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WASHINGTON (Xinhua): The Chinese economy is on track to grow by 8.5 per cent in 2021, up 0.6 percentage point from previous projection, the World Bank Group said in its latest Global Economic Prospects released on Tuesday (June 8).
PETALING JAYA: As governments roll out aid packages to revitalise economies ravaged by Covid-19, accountability mechanisms should also be put in place to ensure that funds are used effectively, says Datuk Seri Azam Baki. the Malaysian Anti-Corruption Commis-sion chief said as public health measures led to a slowdown in economic activities, there was a tendency to place less scrutiny and stringent requirements on aid packages and emergency spending with speed of delivery being vital.
KUALA LUMPUR: Rampant global corruption in the public procurement sector with multiple entry point estimates that 10 per cent to 30 per cent of the cost of capital investment projects had been consumed by corruption, according to the World Bank Group.
The government should consider implementing a windfall tax on industries that benefit greatly from the COVID-19 crisis, according to Khazanah Research Institute senior advisor Professor Dr Jomo Kwame Sundaram.
WASHINGTON (Reuters) - The World Bank Group will have committed $2 billion in financing by the end of April for COVID-19 vaccines in some 40 developing countries, World Bank Managing Director of Operations Axel van Trotsenburg said on Friday.
WASHINGTON (Reuters) - The World Bank on Friday announced a new Climate Change Action Plan aimed at helping developing countries achieve measurable reductions in greenhouse gas emissions and pledging to mobilize large-scale resources to aid the transition out of coal.
VIENTIANE (Vientiane Times/ANN): In a bid to improve logistics infrastructure and help promote cross-border trade in Laos, the International Finance Corporation (IFC) will support Sitthi Logistics Lao Co., Ltd. (Sitthi Logistics) to develop an integrated logistics facility in Vientiane.
KUALA LUMPUR: As Malaysia looks to transform its economy, there is also a need to reorient its practices and policies to attract quality foreign investments that would help the nation achieve its aspirations.