World Bank

The Asian Infrastructure Investment Bank "serves China's interest" and Beijing wields "undue" influence over what is supposed to be a multilateral organisation, a former executive told AFP yesterday after resigning.

In the wake of his resignation, Canada's Finance Minister Chrystia Freeland announced Ottawa would "immediately halt all government-led activity at the Bank".

Some $450 million in financing will be provided to small and medium-sized enterprises (SMEs) and industrial firms under the Türkiye Green Industry Project, Industry and Technology Minister Fatih Kacır has said.

The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia's invasion of Ukraine and the lingering effects of the coronavirus pandemic.

Music superstars Lenny Kravitz, Billie Eilish and H.E.R. will team with advocacy nonprofit Global Citizen for a free concert in front of the Eiffel Tower designed to convince world leaders to take further action against climate change.

BELGRADE - Serbian PM Ana Brnabic met with World Bank representatives for the Western Balkans on Wednesday.

The parties noted that Serbia was seeing major economic success and that it had registered GDP growth of 9 pct over the past four years - three times the GDP growth in the EU and above the level of economic growth in the region, the Serbian government said in a statement.

BELGRADE - Serbian Minister of Internal and External Trade Tomislav Momirovic said on Tuesday regional economic integration was one of his government's main goals and added that CEFTA states were Serbia's top external trade partners behind the EU.

Inflation has been a problem across the world but Argentina is second in a World Bank ranking of countries with the highest food inflation, at 107 percent over the last year.

It's topped only by Lebanon, with a whopping 352 percent.

The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group said Saturday following finance talks in Japan ahead of a major summit next week.    

The ministers did not directly mention efforts to reduce reliance on trade with China or Russia as motivation for the new framework, which focuses on clean energy technology.   

Former Turkish economy minister Kemal Dervis, August 21, 2002, in Ankara. Photo: EPA PHOTO EPA/TARIK TINAZAY

Kemal Derviş, Türkiye's former economy minister, has died at the age of 74 in the hospital in Washington where he received treatment.

The former minister had been receiving Parkinson's treatment in the U.S. for a while.

Derviş served as the Economy Minister during an economic crisis in 2000 and 2001, and then was elected as a deputy of the Republican People's Party (CHP).