World bank

Lebanon faces estimated economic losses of $5.1 billion over 12 months, driven primarily by heavy impacts on commerce, tourism, and agriculture.

President Xi Jinping witnessed the signing of the memorandum of understanding on a Tanzania-Zambia railway project with the Tanzanian and Zambian presidents.

Increasing trade restrictions driven by geopolitical rivalries also could hamper the recovery of global trade volume growth, which was barely perceptible last year at about 0.1%.

The World Bank warned that the fiscal situation of the PA has "dramatically worsened in the last three months, significantly raising the risk of a fiscal collapse."

"We're all just very much taken aback by the magnitude of the casualties on both sides," Anna Bjerde, the World Bank's managing director of operations said.

The World Bank last month cut its 2024 forecast for global economic growth to 2.4% from 2.7% earlier, citing global monetary tightening.

The funds will be provided with guarantees from the Japanese government and channeled to support social security and economic development.

The report attributed the slowing Palestinian economy in part to restrictions on mobility, imports, and trade imposed by Israel.

Ajay Banga, an Indian-born American former business executive, is gaining momentum to head the World Bank.

Scientists in Israel are creating a gene bank from the seeds of local wild crops, some which have survived for thousands of years since the birth of agriculture.

Russia's attacks on civilian infrastructure in Ukrainian cities away from the front lines will complicate the dire economic situation facing the country.