Obama New World Bank President

World Bank Group President Jim Yong Kims surprise resignation comes amid differences with the Trump administration over climate change and the need for more development resources. Just last month, the World Bank announced it would double its investments to fight climate change to around $200 billion over the next five years.

The United States reimposes oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East. The move will restore U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by t...

US President Barack Obama's choice for US Attorney General, Loretta Lynch, was sworn in at her new job today, becoming the first African-American woman to hold the post.

Afghan President Ashraf Ghani today expressed deep gratitude to US troops for their sacrifices in a visit that Washington hopes will mark a new chapter in relations with Kabul after years of friction.

US President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, The Wall Street Journal reported on Sunday.

Citing Russia's stalled growth rate and a flow of foreign capital out of Moscow, US and European officials hope a new round of sanctions targeting energy and defense entities, as well as major banks, will deepen Russia's economic pain even further and force President Vladimir Putin to end provocations in Ukraine.

US President Barack Obama told German Chancellor Angela Merkel on Thursday that the United States and its allies should prepare new sanctions against Russia if it escalates the crisis over Ukraine.

US President Barack Obama has exuded confidence that the new World Bank president Jim Young Kim will prove to be an inclusive leader with a commitment to sustained economic growth. Kim, Obama's personal nominee, was selected by the World Bank Executive Board as the next president. He will take over at the beginning of July, after the current pres...

China took a milestone step in turning the yuan into a global currency on Saturday by doubling the size of its trading band against the dollar.

A major contributor to President Barack Obama's re-election effort is accused of defrauding a businessman and impersonating a bank official. Donor Mr Abake Assongba gave more than USD 50,000 to Obama this election season. But her past legal troubles, which include unpaid debts, are creating a new headache for Obama's campaign.

Passing over better-known candidates, President Barack Obama on Friday nominated global health expert and Dartmouth College President Jim Yong Kim to lead the World Bank. It was a surprise pick aimed in part at fending off challenges from developing nations eager to end the U.S. monopoly of the top job at the international institution.

World Bank Group President Jim Yong Kims surprise resignation comes amid differences with the Trump administration over climate change and the need for more development resources. Just last month, the World Bank announced it would double its investments to fight climate change to around $200 billion over the next five years.

The United States reimposes oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East. The move will restore U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by t...

US President Barack Obama's choice for US Attorney General, Loretta Lynch, was sworn in at her new job today, becoming the first African-American woman to hold the post.

Afghan President Ashraf Ghani today expressed deep gratitude to US troops for their sacrifices in a visit that Washington hopes will mark a new chapter in relations with Kabul after years of friction.

US President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, The Wall Street Journal reported on Sunday.

Citing Russia's stalled growth rate and a flow of foreign capital out of Moscow, US and European officials hope a new round of sanctions targeting energy and defense entities, as well as major banks, will deepen Russia's economic pain even further and force President Vladimir Putin to end provocations in Ukraine.

US President Barack Obama told German Chancellor Angela Merkel on Thursday that the United States and its allies should prepare new sanctions against Russia if it escalates the crisis over Ukraine.

US President Barack Obama has exuded confidence that the new World Bank president Jim Young Kim will prove to be an inclusive leader with a commitment to sustained economic growth. Kim, Obama's personal nominee, was selected by the World Bank Executive Board as the next president. He will take over at the beginning of July, after the current pres...

China took a milestone step in turning the yuan into a global currency on Saturday by doubling the size of its trading band against the dollar.

A major contributor to President Barack Obama's re-election effort is accused of defrauding a businessman and impersonating a bank official. Donor Mr Abake Assongba gave more than USD 50,000 to Obama this election season. But her past legal troubles, which include unpaid debts, are creating a new headache for Obama's campaign.

Passing over better-known candidates, President Barack Obama on Friday nominated global health expert and Dartmouth College President Jim Yong Kim to lead the World Bank. It was a surprise pick aimed in part at fending off challenges from developing nations eager to end the U.S. monopoly of the top job at the international institution.