The World Bank Wednesday slashed its 2012 growth forecasts for both emerging and developing economies from its estimates of only six months ago, and warned the world is on the cusp of a new global recession that could be as bad as the crisis four years ago.
China can expect 7.2% growth in 2009, according to the World Bank, which says the country's fiscal policies in the face of a global financial slowdown have kept the Chinese economy "growing respectably."
A group of nearly two dozen world leaders on Saturday reached agreement on a wide-ranging set of proposals to better regulate financial markets. Their goal is over the next several months to put rules and early-detection systems in place to head off another financial crisis like the one currently damaging economies worldwide.
Cutting down trees is pretty much one of the worst things you can do when it comes to climate change. Deforestation, by varying accounts, contributes anywhere from 20 percent to 30 percent of all carbon dioxide (C02) emissions -- around 1.6 billion tons.
With over 200 public figures attending this year's World Economic Forum in Davos, the Swiss town is set to be a real-life who's who of international statesmen and politicians. Below we've profile a few of this year's big hitters.
The next time you fall sick and someone suggests it's because of something in the water, they could be right. According to the World Bank, 88 percent of all diseases are caused by unsafe drinking water, inadequate sanitation and poor hygiene.
A siege mentality prevails at a World Bank unit that investigates allegations of misconduct and corruption in bank-financed projects, an independent panel says. It recommends the group reach out to other departments and outside advisers to deal with its problems.
Robert Zoellick, a seasoned player in international financial and diplomatic circles, won the unanimous approval of the World Bank's board on Monday to become the poverty-fighting institution's next president
Embattled World Bank President Paul Wolfowitz and the White House were in talks Wednesday afternoon with World Bank officials to work out details of his resignation, senior administration officials told CNN.
Leading governments of Europe are willing to let the United States again choose the next World Bank president if embattled current President Paul Wolfowitz agrees to step down soon, according to a published report.
The world's second largest rainforest -- a haven of biodiversity and one of the planet's vital safeguards against runaway global warming -- is being devastated by illegal logging, environmentalists have warned.