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World Bank Forecasts Global Growth to Slow for Third Consecutive Year in 2024
The report reflects a downward trend from the 6.2 percent growth in 2021, attributed to the pandemic's low base impact, to 3 percent in 2022, and then 2.6 percent in 2023.
World Bank executives meet Sitharaman; appreciate India's growth story
As many as 11 executive directors of World Bank representing 95 countries, met the finance minister. Official sources said that they shared their key takeaways with Sitharaman after having visited Mumbai, Ahmedabad and Lucknow.
AMD to invest $400mn to expand research, development operations in India
The planned investment includes a new AMD campus in Bangalore that will serve as the company's largest design centre, as well as the addition of approximately 3,000 new engineering roles by the end of 2028.
Ranked among top global ports by World Bank, Mumbai's JNPA celebrates 34th anniversary
The latest World Bank's Logistics Performance Index (LPI) Report, 2023 observed that the JNPA 'turns around' box ships in mere 22 hours (or just 0.9 day), which is considered among the best in the world. This distinction came after another superlative performance by the port this year - hitting a record high cargo volume of 6.05 Million TEUs till March 2023.
Cisco eyes over $1 bn in exports, domestic production with India manufacturing
The company will start manufacturing routers and network switches in India to begin with, to create an even more diverse and resilient global supply chain and support India's vision of becoming a global manufacturing hub. The manufacturing move is aligned with the government's 'Make in India' initiative. We are bullish on the India market.
World Bank's Barjor Mehta appointed President of CEPT University
Sanjay Lalbhai, Chairperson of the Governing Body, welcomed Barjor Mehta, stating: "As a successful professional with global experience in urban planning and development, I am confident that he will carry forward the legacy and lead the institute to newer horizons."
Indian-origin Ajay Banga becomes 14th President of World Bank
Banga was the nominee of President Joe Biden of the US, which has chosen every World Bank President in an unwritten agreement with Europe since 1944, according to which Europe gets to select the President of the International Monetary Fund (IMF), leaving the World Bank top job for the US.
India jumps six places to rank 38 out of 139 in Logistics Performance Index 2023
On four out of six LPI indicators, India has seen remarkable improvement on the back of various initiatives being implemented over the past few years, official sources said. The World Bank has acknowledged India's efforts towards increasing logistics efficiency, they added. The LPI index is a perception-based survey conducted across select stakeholders dealing with respective countries.
World Bank projects massive decline in Pakistan's GDP growth
While the Asian Development Bank (ADB), in a separate report, projects a significantly lower GDP growth rate of 0.6 per cent, ballooning inflation of up to 27.5 per cent and an ongoing foreign exchange crisis in Pakistan, The News reported.
World Bank President concerned about China's loans to Africa
David Malpass says the terms and conditions need to be "more transparent", BBC reported. It comes amid worries that countries including Ghana and Zambia are struggling to repay their debts to Beijing, BBC reported. China says that any such lending is done within international rules.
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