Finance & Economics | WPN World People News

The World Bank Group’s Board of Directors Tuesday discussed the Joint Country Partnership Strategy (CPS) for Senegal for the period 2013 -2017 focused on economic growth, job creation and poverty reduction for an emerging Senegal.

IFC, a member of the World Bank Group, is providing a loan of 900 million Russian rubles (around $29 million) to Center-Invest Bank to help it expand access to finance for small and medium enterprises in the Russia Federation’s southern regions.

Silk manufacturing in China.

The Eurosystem – comprising the European Central Bank (ECB) and the 17 national central banks of the euro area – and the Bank of Russia met in Moscow for their seventh high-level seminar. The seminar, hosted by the Bank of Russia, was attended by governors and senior officials from the Eurosystem and the Bank of Russia. Seminar participants also included high-level representatives from the European Commission and the Administration of the President, as well as from the Federal Assembly and ministries of the Russian Federation.

Global solutions are needed to ensure that tax systems do not unduly favour multinational enterprises, leaving citizens and small businesses with bigger tax bills.

Britain, France and Germany have launched a new drive to force big business to pay its fair share of tax and stop efforts of top companies to keep payments to a minimum.

World Bank Group President Jim Yong Kim today wrapped up a three-day visit to the Russian Federation that focused on building on the country’s two-decade partnership, improving the country’s business climate, and diversifying the economy. In addition, he attended the Group of 20 (G20) meetings, which were hosted for the first time by Russia.

In Spain, new details keep emerging in a corruption scandal that reaches to the top ranks of the ruling party. Some analysts believe the Bárcenas affair and the numerous other cases of political dishonesty coming to light could spell trouble for the country's economic recovery. There was some evidence last week recent revelations were shaking investor confidence when Spain's debt costs rose after months of relative stability. Any setback for Spain could send shockwaves throughout the eurozone.