09282016Wed
Last update: Wed, 28 Sep 2016 03am

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World Bank unanimously reappoints President Jim Yong Kim WASHINGTON: The board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced Tuesday.Kim had been the only candidate in a process criticized by World Bank staff and campaigners as lacking in transparency and dominated by the United States.In a statement announcing the decision, the Bank's board offered a strong endorsement of Kim's record, including setting the goal of eliminating extreme global poverty by 2030 and an internal reorganization to promote better coordination which provoked staff dissent.The board also said an effort under Kim to cut bank spending had reduced administrative costs by $400 million, money then reinvested to support the bank's goals."Chairs expressed satisfaction that this Expenditure Review is on track, allowing the organization to increase its support for countries and focus on delivering results more quickly," the statement said.Following an unwritten rule, the United States, the ...

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Pak-China friendship transcends into strategic partnership: Ayaz ISLAMABAD: National Assembly Speaker Sardar Ayaz Sadiq Tuesday said that Pakistan-China relations had transcended into a strategic partnership. Relations with China were the bedrock of Pakistan's foreign policy as both the countries were committed to an all-encompassing and enduring partnership to support each other at international andregional forums, he added.The NA Speaker was speaking as the chief guest at a reception held here to observe the 67th National Day of People's Republic of China.Ayaz Sadiq ...

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Iran's Ahmadinejad says will not make presidential comeback bid DUBAI: Mahmoud Ahmadinejad will not run for president in next year's Iranian election, he said on Tuesday, bowing to the wishes of supreme leader Ayatollah Ali Khamenei who warned his candidacy would increase divisions in Iran. "In carrying out the intentions of the leader of the revolution, I have no plans to take part in the elections next year," Ahmadinejad said in a letter to Khamenei, published on his website.Ahmadinejad, a hardliner who increased Iran's ...

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India should hold int'l probe into Uri incident: Sartaj ISLAMABAD: Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz Tuesday said that an international probe should be conducted into the Uri incident.He said if India had evidences, it should be shared with Pakistan instead hurling baseless allegations.Responding to queries in a private tv talk show programme, Sartaj categorically rejected Indian External Minister Sushma Swaraj's statement over the Occupied Kashmir.He said her statement was a travesty of facts. Even the voices inside India were ...

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Pakistan, Azerbaijan agree to expand ties in defence production ISLAMABAD: Pakistan and Azerbaijan Tuesday agreed to expand their bilateral ties in diverse fields especially in defence production.The understanding of increased collaboration reached between the two countries during a meeting held between Minister for Defence Production Rana Tanveer Hussain and President of Azerbaijan Ilham Aliyev in Baku, said a press release issued here.The minister who is on an official visit to Baku to attend the ADEX-2016, a defence exhibition, along with Chairman Pakistan Ordnance Factory ...