World Bank
Philippine growth over 5pc impossible without urgent reforms, says World Bank
The World Bank said on Monday the Philippines needs to accelerate reforms to allow for sustained economic growth above 5 percent a year to improve the lives of the poor and catch up with its Southeast Asian neighbours. The central bank is awash with US dollars while inflation is low, and government finances manageable, the World Bank said in a report, calling the present "an opportune time for the country to move up to the next level."
Singapore growth model sparks debate
A debate over Singapore's economic growth strategy erupted at a World Bank event on Sunday, held to mark the launch of a book holding the city-state up as a model in this area. The book, Some Small Countries Do It Better, grouped Singapore, Finland and Ireland together as “Sifire” countries that have propelled themselves into the company of high-income nations, despite a lack of natural advantages.
China must move towards market economy, says World Bank
China must relax its grip on industry and move towards a free-market economy, the World Bank said on Monday in a report that forecast the country would become the world's largest economy before 2030.
Judging China to be near an inflection point in its economic growth, the World Bank called on Beijing and its incoming leaders to overhaul the structure of the world's number two economy to keep income and productivity rising in years ahead.
The world's most business-friendly countries
The global economic downturn may have temporarily slowed business activity around the world, but many countries are playing their part to improve domestic regulations aimed at helping facilitate business.
According to the World Bank's global economy standings – which ranks 183 countries on the basis of how easy it is to conduct business – Singapore tops the rankings, followed by Hong Kong and New Zealand.
Global economy has reached new danger zone, says World Bank chief
The head of the World Bank said on Wednesday that the world had entered a new economic danger zone and that Europe, Japan and the United States all need to make hard decisions to avoid dragging down the global economy.
Food prices "threaten millions"
The World Bank has warned that rising food prices, driven partly by rising fuel costs, are pushing millions of people into extreme poverty.
World food prices are 36 percent above levels of a year ago, driven by problems in the Middle East and North Africa, and remain volatile, the bank said. That has pushed 44 million people into poverty since last June.
Low wages will force Malaysia's debt default crisis, say lawmakers
Malaysia’s sluggish increase in wages is threatening a consumer debt default crisis as the working and middle classes increase their borrowings to deal with surging inflation, Pakatan Rakyat (PR) lawmakers said yesterday.
Citing a World Bank report from last year, Charles Santiago (DAP-Klang) said real wages have only increased at an average annual rate of 2.6 percent over the past decade, failing to keep pace with overall economic growth of nearly 5 percent.
Global economic growth to slow in 2011, says World Bank
The global economy will slow this year, with developing countries such as India and China providing a greater share of growth, the World Bank has predicted.
The bank estimates that global GDP growth will be 3.3 percent this year against 3.9 percent in 2010, with emerging markets growing by 6 percent.
Singapore "best country in which to run a business"
Singapore remains the best country in which to run a business, according to an annual report by the World Bank.
The Asian nation has come top of the World Bank's Doing Business 2011 study, which rates 183 countries on the ease in which they allow firms to operate.
World Bank urges China to cool growth
The World Bank on 17 March urged China's government to take more measures to cool its economy and head off inflation, as the bank expects the country's economic growth to accelerate to 9.5 percent this year.
In its quarterly report on China's economy, the World Bank raised its forecast for China's growth this year from the 8.7 percent increase the bank projected in November 2009 and suggested Beijing use interest rate rises and a stronger yuan to avoid inflation and the formation of asset bubbles in the domestic property market.
