World Bank

IMF review recommends delaying currency basket adoption of yuan

The International Monetary Fund should put off any move to add the yuan to its Special Drawing Rights currency basket until September 2016, an IMF staff report said, a move that would effectively end the Chinese currency's chances of an early inclusion.

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China stocks slide despite calming efforts

China's stock markets closed sharply lower on Monday after a frantically volatile day of trading, despite surprise monetary easing moves by the central bank at the weekend.

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China-backed multilateral bank to take concrete shape this week

One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.

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U.S. to press China on currency, eye on AIIB: official

U.S. officials will press their Chinese counterparts on currency policy at high-level talks next week, and have not taken off the table the possibility that the United States may one day join a China-led infrastructure bank, a senior U.S. Treasury official said.

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A year after the crash, oil markets risk more trouble ahead

A year on from the start of one of the biggest oil price crashes in history, the driving force behind the slide remains intact: there is still too much crude.

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In China's Pearl River Delta, HSBC faces a risky voyage

Every day hundreds of garment traders alight at the newly-built Humen station to ply their wares in the southern Chinese city of Dongguan, arriving on high speed trains that whoosh through the terminal every ten minutes.

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World Bank sees slower global growth, urges Fed to wait on rates

The World Bank on Wednesday cut its global growth outlook for this year and urged countries to "fasten their seat belts" as they adjust to lower commodity prices and a looming rise in U.S. interest rates.

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China-backed AIIB founding members to meet in Singapore this week

Founding members of the China-backed Asian Infrastructure Investment Bank (AIIB) will hold a three-day meeting in Singapore this week to discuss operational policies for the establishment of the institution.

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World Bank plans help for regions in Iraq recaptured from Islamic State

The World Bank is seeking to finance development projects in areas in Iraq that the government has recaptured from Islamic State militants, its regional vice president said.

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Asian, African nations challenge 'obsolete' world order

Leaders of Asian and African nations called on Wednesday for a new global order that is open to emerging economic powers and leaves the "obsolete ideas" of Bretton Woods institutions in the past.

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Kuroda says markets could be caught unready if BOJ succeeds on inflation

Bank of Japan Governor Haruhiko Kuroda said on Sunday that financial markets "could be surprised" if the central bank hits its 2-percent inflation target in 2016 and interest rates in Japan start to rise as a result.

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IMF nations point to exchange rate, geopolitical risks

The International Monetary Fund's member nations on Saturday warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of "moderate" global growth and "uneven prospects."

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World Bank cuts East Asia growth forecast, warns of risks to outlook

The World Bank cut its 2015 growth forecasts for developing East Asia and China, and warned of "significant" risks from global uncertainties including the potential impact from a strengthening dollar and higher U.S. interest rates.

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Weak China trade data hammers Aussie, weighs on Europe shares

A shock fall in Chinese exports hammered the Australian dollar on Monday, though expectations of fresh economic stimulus from Beijing helped Asian stocks higher

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China-led AIIB will be lean, clean and green - official

The China-led Asian Infrastructure Investment Bank (AIIB) will be lean, clean and green, its interim chief said, playing down concerns over transparency and standards governing the institution.

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