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Multilateral development banks eye up to $400 billion more lending over 10 years

By Marcela Ayres WASHINGTON (Reuters) -The Inter-American Development Bank on Saturday said leaders of 10 multilateral development banks committed to take action in five critical areas, including additional lending headroom totaling $300-400 billion over the next decade. The effort comes amid growing calls for these institutions to boost financing under favorable conditions to developing countries, …

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Growth is too low but focus must be on price stability – SNB’s Jordan

ZURICH (Reuters) – Monetary policy should remain focused on price stability, Swiss National Bank Chairman Thomas Jordan said in remarks aired on Saturday. Speaking to national broadcaster SRF, he said economic growth and productivity are too low and many countries are running too much debt and excessive deficits. One of the most pressing challenges is …

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IMF, World Bank steering committee stresses accountability as reforms advance

WASHINGTON (Reuters) – The steering committee for both International Monetary Fund and the World Bank on Saturday emphasized the need for broader accountability as the institutions implemented reforms to help countries grapple with climate change and other shocks. “We must hold ourselves accountable more broadly as we become a better and bigger bank,” said Mohammed …

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UAW wins big in historic union vote at Volkswagen Tennessee factory

By Nora Eckert CHATTANOOGA, Tennessee (Reuters) -Workers at Volkswagen’s Tennessee plant have voted to join the United Auto Workers, in a seismic victory for the union as it drives beyond its Detroit base into the U.S. South and West. A majority of eligible workers cast ballots in favor of the union, with the final tally …

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Poland to get $266 million from World Bank for Clean Air program, finance minister says

WARSAW (Reuters) – Poland has signed a 250-million-euro ($266.35 million) agreement with the World Bank to help finance its Clean Air programme, Finance Minister Andrzej Domanski said late on Friday. “With the president of the World Bank, Ajay Banga, we also talked about the challenges facing the global economy and growing inequality in the world,” …

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UAW ahead as first ballots counted in union vote at Volkswagen’s Tennessee factory

By Nora Eckert CHATTANOOGA, Tennessee (Reuters) -An early tally of ballots on a key unionization vote at Volkswagen’s Tennessee plant showed most workers in favor of joining the United Auto Workers union. A win would make the Chattanooga factory the first auto plant in the South to unionize via election since the 1940s and the …

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Bitcoin ‘halving’ has taken place, CoinGecko says

By Elizabeth Howcroft LONDON (Reuters) -Bitcoin, the world’s largest cryptocurrency, on Friday completed its “halving,” a phenomenon that happens roughly every four years, according to according to CoinGecko, a cryptocurrency data and analysis company. Bitcoin was fairly stable immediately afterward, falling 0.47% to $63,747. Bitcoin enthusiasts had eagerly waited for the “halving”- a change to …

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Proceeds from Russian assets could fund bond sales, Ukraine’s central bank says

By Karin Strohecker WASHINGTON (Reuters) – Ukraine and its international partners have discussed bundling future proceeds from frozen Russian assets to back bond sales by the war-ravaged nation, Ukrainian central bank chief Andriy Pyshnyi said on Friday. Ukrainian Prime Minister Denys Shmyhal and Finance Minister Serhiy Marchenko met with U.S. Treasury Secretary Janet Yellen, leaders …

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