News from Around the World

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Liang Cia / GPE / CC BY-NC-ND

GPE to stay under World Bank but with more independence and 'new capabilities'


LONDON — The board of the Global Partnership for Education has decided to remain a World Bank trust fund until at least 2021, despite offers from France and Switzerland to host the organization.

The announcement, which came Friday at the end of a two-day board meeting in Dublin, Ireland, follows months of speculation about whether GPE should continue to be administered as a trust fund within the World Bank or set up independently. The decision is set to be reviewed in 2021.

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Brazil’s Inflation Rate Slows More Than Forecast in November


Brazil’s inflation rate slowed in November, according to new data which sharpen market expectations that the central bank will hold rates steady at next week’s meeting.

Annual consumer price inflation in Brazil — as measured by the IPCA index — eased to 4.05 per cent in the 12 months through November, according to figures released on Friday by the IBGE, the country’s statistics agency.

Number10 / CC BY-NC-ND

Post-Brexit Trade: A Missed Opportunity for Development?


BERLIN — During a visit to South Africa in August, British Prime Minister Theresa May announced that her government had secured its first post-Brexit trade deal: an agreement between the United Kingdom and six southern African countries, which she said would “build a closer trade and investment partnership in the future that brings even greater benefits for both sides.”

But the deal is actually a replication of an existing European Union arrangement with those six countries, known as an Economic Partnership Agreement, or EPA.

STR/EPA-EFE/REX/SHUTTERSTOCK

Second Jobs and Tightened Belts: The Arab Middle Class Cuts Back


CAIRO—A wave of economic austerity is squeezing the Arab world’s middle class, pushing a segment of society that is key to growth and stability into making painful cutbacks and fueling discontent.

Egyptians say they are taking second jobs and dining out less often. Jordanians trying to make ends meet are pulling children from private schools. In Tunisia, hundreds of thousands of civil servants staged a one-day strike last month to demand a pay increase.

Jaap Arriens/NurPhoto via Getty Images

U.N. Climate Summit Kicks Off With $200 Billion Pledge From World Bank


Katowice, Poland, has coal in its blood. Situated in the industrial region of Silesia, it transformed from a village to a bustling city 150 years ago when vast coal reserves were found in the area. Today it still supplies most of Poland’s coal – on which the country is 80% dependent for its electricity.

PABLO MARTINEZ MONSIVAIS/ASSOCIATED PRESS

U.S., China Face Thorny Obstacles to Lasting Trade Peace


BUENOS AIRES—The trade truce between the U.S. and China calms their economic battle and opens a brief window for the two nations to explore whether they can bridge deep divides on a range of difficult disputes.

After a weekend dinner between President Trump and Chinese President Xi Jinping at a Group of 20 summit here, the U.S. postponed its threat to increase tariffs on $200 billion in Chinese goods to 25% from 10%. But it set a timeline of only about three months for the two sides to negotiate several issues that have proved largely intractable in the past.

REUTERS/Kevin Lamarque

World Leaders Set to Convene Argentina Summit Clouded by Disputes


BUENOS AIRES (Reuters) - A summit of the world’s top economies will open on Friday with leaders struggling over fallout from a U.S.-China trade war that has roiled global markets and bracing for the kind of divisive geopolitical drama that President Donald Trump often brings to the international stage.

Peter Biro / European Union / CC BY-NC-ND

'No country is untouched': Global Nutrition Report highlights compounding malnutrition


WASHINGTON — Every country in the world experiences the burden of malnutrition and many nations now see a compounding of different forms including stunting, wasting, anemia, and obesity, according to the “2018 Global Nutrition Report.”

Child stunting, anemia in women of reproductive age, and overweight in women were examined in 141 countries that had consistent data on those malnutrition indicators. Findings show 88 percent (124 countries) have high levels of at least two different types of malnutrition, while 29 percent have high levels of all three.

The Wednesday report is the Fed’s latest efforts to spotlight financial stability monitoring and follows years of more intense in-house research. PHOTO: CHRIS WATTIE/REUTERS

Fed Identifies Top Vulnerabilities Facing U.S. Financial System


WASHINGTON—The Federal Reserve identified elevated asset prices, historically high debt owed by U.S. businesses and rising issuances of risky debt as top vulnerabilities facing the U.S. financial system, according to an inaugural financial stability report released Wednesday.

Xinhua/Yao Dawei

Donald Trump and Xi Jinping Face Trade Showdown at G20 Summit


The G20 summit in Argentina — which starts on Friday in the Costa Salguero convention centre along the Rio de la Plata in Buenos Aires, Argentina — was always going to be a key moment on this year’s global political calendar. But its significance has grown sharply in recent weeks for a variety of reasons.

US president Donald Trump and Xi Jinping, the Chinese leader, have arranged to hash out their trade disputes on the sidelines of the meeting. Traditional US allies will be looking for their own reassurances from Mr Trump on both trade and tariffs.