INSEAD Day 4 - 728x90

Economy

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Ukraine to receive $1.5bn in aid from World Bank

The World Bank said ESG, volatility and risk and inflation were the main challenges facing central banks in 2022. (AFP)
By TRENDS Desk AFP
June 8, 2022 11:44 am
  • The new financing from World Bank to Ukraine will be used to pay wages for government and social workers
  • According to Zelensky, Ukraine's government needs a total of $7 billion aid in a month to continue to function
The World Bank on Tuesday approves an additional $1.5 billion in aid for Ukraine, bringing the total planned support package to more than $4 billion.
The Russian invasion of Ukraine in late February has created a humanitarian crisis and devastated the country’s economy, destroying infrastructure and blocking key grain exports, as well as draining the government’s ability to pay its bills.
The new financing will be used to pay wages for government and social workers, the development lender said in a statement, noting that with the new funds nearly $2 billion has been disbursed so far. The World Bank “is providing continuing support for Ukraine and its people in the face of the ongoing war,” bank President David Malpass said in a statement. “We are working with donor countries to mobilize financial support and leveraging the flexibility of our various financing instruments to help provide Ukrainians with access to health services, education and social protection.”However, Ukraine President Volodymyr Zelensky has said his government needs a total of $7 billion a month in aid to continue to function.

[adinserter block="5"]

Most Read

Future of Humanity – TRENDS’ yearly Special Issue now online

Dubai, UAE — TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts and brings together expert insights on old and new forces…

10,000 deaths raise specter of genocide in Gaza

Some world leaders like Turkey's President Erdogan use the term genocide to describe Israeli actions in Gaza. Israel has also been accused of war crimes by rights organizations.

NYU Abu Dhabi team develops wireless pill to control gut neurons

Abu Dhabi, UAE — Researchers at NYU Abu Dhabi (NYUAD) have developed an ingestible device that uses light to activate neurons in the gut. This new technology, called ICOPS (Ingestible…

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

35.6% rise in Saudi women’s economic participation makes TOP CEO Conference’s May predictions true

The confirmation of an increased participation of women in workplace comes months after the TOP CEO Conference held in May 2022 had highlighted its economic justifications.

INSEAD Day 4- 300x600
INSEAD Day 4- 300x600
[adinserter block="4"]