October 11, 2018

World Bank Group President Jim Yong Kim Opening Remarks at the 2018 Annual Meetings

Welcome to the 2018 IMF/World Bank Group Annual Meetings. It’s an honor to be here. I’d like to start by thanking the government of Indonesia for […]
October 11, 2018

Indonesia arrests four for ‘selling babies on Instagram’

Indonesia arrests four for 'selling babies on Instagram' Image copyright Instagram Image caption The account features pictures of babies, pregnant woman and ultrasound scans, amongst others Four Indonesians have been arrested over an alleged baby-selling operation using Instagram. An account which claimed to be a family welfare agency posted images of pregnant women, ultrasound scans and babies. A telephone number was provided so potential buyers could make contact via WhatsApp, said police in Surabaya. They said they managed to intercept one transaction but were still searching for at least one baby that was sold. "People who want to adopt children use that account and the transaction is completed through WhatsApp," Col Sudamiran, Surabaya's chief detective, was quoted by Detik as saying. According to news website Detik, the account was posing as a consultation service, offering to solve family problems. The Instagram account, with more than 700 followers, features ..
October 11, 2018

The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities

BALI, Indonesia, October 11, 2018(CABNC-TV)–The International Monetary Fund and the World Bank Group today launched the Bali Fintech Agenda, a set of 12 policy elements aimed […]
October 11, 2018

IFC, Other DFIs Leveraged Blended Finance to Unlock Nearly $9 Billion for Developing Countries

Bali, Indonesia, October 11, 2018 (CABNC-TV)—IFC, a member of the World Bank Group, and other development finance institutions (DFIs) last year used about $1.2 billion in […]
October 11, 2018

Yasukuni Shrine: Chief priest to quit after criticising Japan’s emperor

Yasukuni Shrine: Chief priest to quit after criticising Japan's emperor Image copyright Reuters Image caption Members of a right-wing group bow their heads to honour the war dead at the shrine The chief priest at Japan's controversial Yasukuni Shrine is to resign after making remarks highly critical of Emperor Akihito. In comments leaked to a magazine, Kunio Kohori said he believed Emperor Akihito was trying to destroy the shrine by not visiting it. The shrine in Tokyo honours Japan's 2.5 million war dead but also enshrines convicted criminals of World War Two. It remains a high source of tension with neighbours, particularly China. Emperor Akihito, who will abdicate next year, has never visited the shrine. He has instead sought reconciliation with Japan's wartime enemies. He has expressed regret over Japan's military actions in both China and the Korean peninsula, and has also visited several Pacific battlefields to honour the dead, actions that have brought ..
October 11, 2018

Astronauts escape malfunctioning Soyuz rocket

Astronauts escape malfunctioning Soyuz rocket Image copyright EPA Image caption The crew were on their way to the International Space Station A capsule carrying the two crew members of a Russian Soyuz rocket that malfunctioned on lift-off has landed safely in Kazakhstan. Russian Cosmonaut Alexey Ovchinin and US astronaut Nick Hague are reported to be "in good condition", both Nasa and Russian media said. Search and rescue teams are now en route to the landing site. The rocket had taken off for the International Space Station (ISS) when it suffered a problem with its booster. The crew had to return in "ballistic descent mode", Nasa tweeted, which it explained was "a sharper angle of landing compared to normal". The Soyuz rocket had taken off at 04:40 Eastern time for a four-orbit, six-hour journey to the ISS. Mr Hague and Mr Ovchinin were due to spend six months on the station working on a number of scientific experiments. Skip Twitter post by @NASA Thursday, @AstroHague is preparing ..
October 11, 2018

BMW to spend $4.1bn to take control of its China venture

BMW to spend $4.1bn to take control of its China venture Image copyright Reuters Carmaking giant BMW wants to take control of its joint venture in China and is set to pump billions more into its production capacity in the country. The German firm will spend 3.6bn euro ($4.16bn; £3.14bn) to up its stake in Brilliance Automotive from 50% to 75%. The Mini maker will also invest more than 3bn euros to expand its existing production capacity in China. The move comes amid China's plans to relax rules for foreign car companies operating in its enormous market. Currently, foreign firms that want to make cars in China must have a joint venture with a local firm, but they are not permitted to own more than a 50% stake in that firm. This rule has been in place since 1994 and has left many foreign firms frustrated. It has also restricted big global brands from gaining full access to the world's biggest car market. BMW said the deal with Brilliance Automotive, which is subject to re..
October 11, 2018

Nauru refugees: Doctors urge evacuations amid ‘complete despair’

Nauru refugees: Doctors urge evacuations amid 'complete despair' Image copyright AFP Image caption Australia's policies have been criticised by the UN and human rights groups Medical charity Médecins Sans Frontières (MSF) has called for the immediate evacuation of all asylum seekers on Pacific nation Nauru, amid a "devastating" mental health crisis. MSF provided 11 months of care to those housed in an Australian-run detention centre on the tiny island, but was recently ordered by Nauru to leave. It treated 78 people who had attempted suicide or self-harm during that time. Authorities in Nauru and Australia have not responded to MSF's call. The Nauru detention centre was set up by Australia in 2013 in a controversial deal to house asylum seekers intercepted while trying to reach Australian shores by boat. Canberra maintains its policy prevents deaths at sea and discourages people smugglers but the tough stance has been widely criticised. MSF Australia executive dire..
October 10, 2018

Asian markets fall sharply after US losses

Asian markets fall sharply after US losses Image copyright Getty Images Asian stocks slumped in early trade as concerns about higher US interest rates and a global trade war prompted investors to sell risk globally. Markets in Asia took their cue from US stocks, which suffered their sharpest one-day falls in months. on Wednesday. Japan's benchmark Nikkei 225 is down 3.6%. In China, Hong Kong's Hang Seng slumped 3% and the Shanghai Composite shed 2.6%. The US Federal Reserve raised rates in September as the economy grows solidly. Higher interest rates makes borrowing more expensive, slowing economic activity and hurting investor appetite for risk. A US-led trade war against China has also made investors worried about the outlook for global growth. Elsewhere in Asia, South Korea's benchmark Kospi index fell 2.8% and Australia's S&P/ASX 200 index fell 1.9%.
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