The World Bank

World Bank to stop financing oil, gas projects from 2019

Paris - Muslimchronicle

The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to clean energy. "The World Bank Group will no longer finance upstream oil and gas, after 2019," it said in a statement in Paris, where world leaders sought to unlock more moneyRead more

World Bank to stop financing oil, gas projects from 2019

Paris - Muslimchronicle

The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to cleaner energy. "The World Bank Group will no longer finance upstream oil and gas, after 2019," it said in a statement in Paris, where world leaders sought to unlock more moneyRead more

MENA Solar Power Leaders Share Knowledge in Ouarzazate

Rabat - Arab Today

Over 100 energy officials united at the world’s largest solar power plant in Ouarzazate for the World Bank’s launching of the “Middle East and North Africa Concentrated Solar Power Knowledge & Innovation Program” (MENA CSP KIP), designed to support MENA officials exploring the potential of concentrated solar power (CSP) as a sustainable source for their countries’ energy demands. The WorldRead more

World Bank's New support for Morocco

Rabat - Arab Today

The World Bank prepares to provide new financial support for the development of industrial agriculture in Morocco, and give it a leading position within the Moroccan industrial exports in the coming years, through the improvement of the quality of production and access to global markets, and to increase the volume of investments and support for small and medium enterprises andRead more

China to avoid bank shock, reach high income

Hong Kong - Arab Today

China will likely avoid a financial crisis and is on track to reach high income status by 2027, according to a new Morgan Stanley report on the nation’s longer-term prospects titled "Why we are bullish on China." The sweeping outlook comes amid growing concern over China’s surging debt levels, slow pace of reforms and the impact of a potential tradeRead more

Rio Tinto annual profit surges on spiking commodity prices

Sydney - AFP

Rio Tinto Wednesday reported a surge in annual net profit on the back of improving commodity prices in a strong turnaround from last year's loss, and rewarded shareholders with a buyback. The world's second-largest miner reported an annual net profit of US$4.62 billion for the year to December 31, compared to a US$866 million net loss in the previous financialRead more

World Bank expects oil, industrial commodities surging in 2017

New York - Arab Today

Energy and industrial commodities outlook is looking more bullish as stronger demand and supply constraints are boosting prices from oil to zinc, the World Bank said. Average prices for fuels such as crude, natural gas and coal will rise 26 per cent this year from 2016, while those for metals including lead and zinc will climb about 11 per centRead more

Prime Minster of Nepal meets with Nepali Business Council in Dubai

Dubai - ArabToday

The Prime Minister of Nepal, Shri Pushpa Kamal Dahal, discussed the importance of building bilateral trade and cooperation between his country and the UAE on Sunday in Dubai. Dahal, who took office for the second time as Prime Minister in August 2016, spoke to Gulf News of his government’s emphasis on “creating an atmosphere that encourages exports [with the UAE].” Dahal, whoRead more