Latest Development banking News

IMF-World Bank ends meetings with call to brace for risks

Oct. 13, 2018 4:55 AM EDT

NUSA DUA, Indonesia (AP) — Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions. The meetings in Bali, Indonesia, this week were overshadowed by a spate of...

The Latest: IMF's Lagarde planning to attend Saudi meeting

Oct. 13, 2018 3:55 AM EDT

NUSA DUA, Indonesia (AP) — The Latest on the annual meeting of the International Monetary Fund and World Bank in Bali, Indonesia (all times local): 3:55 p.m. The managing director of the International Monetary Fund, Christine Lagarde, has said she still intends to attend an investment conference in Saudi...

UN secretary general visits quake-hit Indonesian city

Oct. 12, 2018 6:05 AM EDT

JAKARTA, Indonesia (AP) — U.N. Secretary-General Antonio Guterres on Friday visited an Indonesian city shattered by an earthquake and tsunami to personally assess the impact of the disasters. Guterres is attending the annual meetings of the International Monetary Fund and World Bank on the island of Bali....

Indonesian president says trade wars too destructive

Oct. 12, 2018 5:18 AM EDT

NUSA DUA, Indonesia (AP) — Indonesian President Joko "Jokowi" Widodo added to a chorus of criticism Friday over trade friction between the U.S. and China, telling financial leaders gathered in Bali, Indonesia, that victory in a trade war would be pointless in a "sinking world." Widodo's comments at the...

IMF team to visit Pakistan after request for bailout loans

Oct. 11, 2018 10:36 AM EDT

ISLAMABAD (AP) — The head of the International Monetary Fund said Thursday that it will send a team to Pakistan in the coming weeks after the government requested emergency bailout loans. IMF Managing Director Christine Lagarde confirmed that Pakistan had requested the loans after meeting with Finance...

The Latest: Southeast Asian leaders affirm free trade goals

Oct. 11, 2018 8:45 AM EDT

NUSA DUA, Indonesia (AP) — The Latest on the IMF-World Bank annual meeting (all times local): 8:40 p.m. Leaders of the Association of Southeast Asian Nations have reaffirmed their commitment to open trading systems that have underpinned their economic growth. The leaders met Thursday in Bali, Indonesia, on...

As markets swoon, finance chiefs urge US, China to cool it

Oct. 11, 2018 8:02 AM EDT

NUSA DUA, Indonesia (AP) — The heads of the World Bank and IMF appealed Thursday to the U.S. and China to cool their dispute over technology policy and play by world trade rules, as tumbling share prices drove home potential perils from a clash between the world's two biggest economies. Global economic...

New Indonesia quake kills 3 in Java village, shakes Bali

Oct. 11, 2018 1:56 AM EDT

PALU, Indonesia (AP) — An earthquake collapsed homes on Indonesia's Java island, killing at least three people, and shook the tourist hotspot of Bali on Thursday, two weeks after a major quake-tsunami disaster in a central region of the archipelago. Indonesia's disaster agency said the nighttime quake was...

The Latest: Quake near Bali, Indonesia, kills at least 3

Oct. 10, 2018 8:25 PM EDT

PALU, Indonesia (AP) — The Latest on earthquakes in Indonesia (all times local): 8:15 a.m. Indonesia authorities say at least three people have been killed and four injured Thursday after a powerful earthquake struck near the popular tourist island of Bali. Sutopo Purwo Nugroho, a spokesman for Indonesia's...

#BringBackOurGirls activist runs for Nigeria's presidency

Oct. 10, 2018 5:18 AM EDT

LAGOS, Nigeria (AP) — The woman who led the global campaign to free Nigerian schoolgirls kidnapped by Boko Haram extremists is now running for president, saying she is fighting for "the soul" of Africa's most populous nation. Oby Ezekwesili is the most prominent woman to seek the presidency in Nigeria,...