‘Simply false’: IMF’s Georgieva pushes back on World Bank investigation | Banks News

The report puts IMF director Kristalina Georgieva at risk of undermining her authority just weeks before an annual meeting of global financial leaders. IMF director Kristalina Georgieva this week gave the lender’s board a more detailed defense against allegations that she improperly influenced a report in favor of China in her previous job at the … Read more

UNDP’s Steiner on the Climate Statistics Keeping Him Up at Night | Business and economic news

New York City, United States – The world must use trillions of dollars in coronavirus recovery and stimulus to ensure countries have green economies, Achim Steiner, administrator of the United Nations Development Program (UNDP), told Al Jazeera. Steiner, Friday’s co-chairman High-level dialogue on energy (HLDE) at the UN, says the event is an opportunity for … Read more

Turkey: Student housing protests mark rising prices | Business and economic news

Istanbul, Turkey – Hasan Dogan says he is not bothered by the cold and rain as he prepares to spend another night in a park in Istanbul. The fourth-year graphic design student and dozens of other students have been sleeping on the streets for four nights, part of a national protest movement against what they … Read more

Drive to end energy poverty gets off to a flying start at United Nations | Antonio Guterres News

New York City, United States – The COVID-19 pandemic has held back decades of progress on poverty and development, including the goal of eradicating energy poverty for good by the end of the decade. World leaders meeting Friday for the United Nations General Assembly are expected to recommit to commitments to end energy poverty — … Read more

Evergrande Debt Troubles: EV Unit Stops Paying Employees, Suppliers | Automotive industry news

China’s electric vehicle manufacturer Evegrande Group has failed to pay a number of employees and is behind in paying factory equipment suppliers, sources tell Bloomberg News. The China Evergrande Group’s electric car unit has missed salary payments to some of its employees and has fallen behind in paying a number of factory equipment suppliers. its … Read more

American space giant Boeing says it will build drones in Australia | Aviation News

Boeing has unveiled plans to build a new type of military drone aircraft in Australia. Chicago-based aerospace giant Boeing has announced plans to build a new type of military drone aircraft in Australia. Boeing said on Wednesday it has chosen the city of Toowoomba in the state of Queensland as the final staging area for … Read more

Turkey: Surprising rate cut sends lira to new record low | Business and economic news

Turkey’s central bank cut interest rates by a full percentage point to 18 percent, surprising markets and pushing the lira to a new record low. The Turkish lira fell to a record low after the central bank cut its benchmark rate on Thursday, unleashing another wave of market turbulence and reflecting President Recep Tayyip Erdogan’s … Read more

China tells Evergrande to avoid short-term dollar bond defaults | Business and economic news

Chinese regulators told real estate developer Evergrande, who is in financial distress, to focus on completing unfinished properties and paying back individual investors while avoiding a short-term default on their dollar bonds, sources tell Bloomberg. Financial regulators in Beijing issued a wide range of instructions to the China Evergrande Group, telling the embattled developer to … Read more

US economy: Fed says phasing out bond buying ‘may soon be justified’ | Business and economic news

On Wednesday, the US central bank prepared the ground to potentially reverse some of the extraordinary support it gave the economy during the pandemic. One of the biggest questions currently looming over the United States economy is when the Federal Reserve will begin to curb its policy of cheap money. On Wednesday, the Fed prepared … Read more

UAE, India aim to double trade to at least $100 billion in five years | Business and economic news

The United Arab Emirates is trying to polish its credentials as a global hub for business and finance in the face of growing regional competition from Saudi Arabia. Through Sylvia Westall and Shruti SrivastavaBloomberg The United Arab Emirates and India aim to more than double non-oil trade to at least $100 billion in five years, … Read more