Latest Development banking News

At Dubai summit, Pakistan premier warns of 'painful' reforms

Feb. 10, 2019 10:17 AM EST

DUBAI, United Arab Emirates (AP) — Pakistan's Prime Minister Imran Khan said Sunday his nation needed "painful" economic reforms to cut back on its massive debt, just after meeting the head of the International Monetary Fund, signaling the former cricketer may be willing to slash government spending for a...

The Latest: Puerto Rico says aid en route to Venezuela

Feb. 7, 2019 7:07 PM EST

CARACAS, Venezuela (AP) — The latest on Venezuela's political crisis (all times local): 8:05 p.m. Puerto Rico's government says 3,600 pounds (1,633 kilograms) worth of donated supplies are en route to Venezuela as part of a humanitarian aid mission. Officials said earlier Thursday that they had sent the...

Trump introduces World Bank critic David Malpass to lead it

Feb. 6, 2019 9:29 PM EST

WASHINGTON (AP) — President Donald Trump on Wednesday introduced David Malpass, a Treasury official he has nominated to lead the World Bank, as the "right person to take on this incredibly important job." Malpass, who is now Trump's undersecretary for international affairs at the Treasury Department, has...

Trump introduces World Bank critic David Malpass to lead it

Feb. 6, 2019 3:38 PM EST

WASHINGTON (AP) — President Donald Trump on Wednesday introduced David Malpass, a Treasury official he has nominated to lead the World Bank, as the "right person to take on this incredibly important job." Malpass, who is now Trump's undersecretary for international affairs at the Treasury Department, has...

IMF approves $2 billion loan payment for Egypt

Feb. 6, 2019 10:35 AM EST

CAIRO (AP) — The International Monetary Fund has lauded Egypt's robust growth and acknowledged progress in stabilizing its economy, instilling market confidence and cutting debt. The IMF said late Tuesday it approved a $2 billion loan payment to Egypt, the latest in the country's three-year aid program....

Trump to tap David Malpass, critic of World Bank, to lead it

Feb. 5, 2019 1:40 PM EST

WASHINGTON (AP) — The World Bank may be poised for a shake-up with President Donald Trump planning to nominate David Malpass, who has been a critic of the bank, to lead the institution focused on global poverty. Malpass' selection was confirmed by a senior administration official who spoke on condition of...

AP source: Trump to tap critic of agency to lead World Bank

Feb. 5, 2019 11:32 AM EST

WASHINGTON (AP) — President Donald Trump plans to nominate David Malpass, a Trump administration critic of the World Bank, to lead the institution. That is according to a senior administration official who spoke on condition of anonymity because the official wasn't authorized to comment publicly on...

The Latest: OAS body asks that Venezuela protect Guaido

Jan. 25, 2019 11:26 PM EST

CARACAS, Venezuela (AP) — The Latest on the political crisis in Venezuela (all times local): 12:10 a.m. The Inter-American Commission on Human Rights is granting precautionary measures to protect Venezuelan opposition leader Juan Guaido and his family. The human rights body of the Organization of American...

IMF sees Greek economy accelerating in 2019

Jan. 25, 2019 12:53 PM EST

ATHENS, Greece (AP) — The International Monetary Fund said Friday it is optimistic on Greece's growth and employment prospects for this year, but urged the government to stick to reforms to maintain the momentum. In a report published following five-day talks with officials in Athens, IMF officials said...

Asian shares meander on worries over US-China trade talks

Jan. 22, 2019 11:17 PM EST

SINGAPORE (AP) — Asian markets were flat in subdued trading Wednesday as Japan reported weak export data and news surfaced of possible hiccups in China-U.S. trade talks. KEEPING SCORE: Japan's Nikkei 225 index was less than 0.1 percent higher at 20,631.54 and South Korea's Kospi rose 0.3 percent to...