News from Around the World

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Chinese President Xi Jinping at this week’s annual session of the National People’s Congress, which is expected Friday to pass a foreign-investment law newly amended to answer U.S. complaints. PHOTO: MARK SCHIEFELBEIN/ASSOCIATED PRESS

China Aims to Placate U.S. With Law Banning Theft of Foreign Trade Secrets


BEIJING—China made last-minute changes to a proposed foreign-investment law, trying to address U.S. complaints about forced technology transfer and bolster a compromise seen as crucial to striking a trade deal with Washington.

David Malpass, President Trump’s nominee to head the World Bank, has previously criticized multilateral institutions for overstepping their authority. Credit Doug Mills/The New York Times

Trump’s World Bank Nominee Tries to Distance Himself From the President


WASHINGTON — When President Trump selected David Malpass to lead the World Bank last month, he showered his nominee with gratitude for years of loyal support, praised his intelligence and made one thing abundantly clear: The World Bank under his watch must put America first.

REUTERS

Theresa May loses control of Brexit


LONDON — No one has a clue what happens now.

REUTERS/Alkis Konstantinidis

Finish what you started on reforms, IMF tells Greece


Under the terms of Greece’s exit seven months ago the Washington-based Fund, which took part in the first two bailouts, and its euro zone lenders are continuing to monitor its compliance with economic targets they set.

The IMF expects Greece’s economy to grow 2.4 percent this year and 2.2 percent in 2020 before slowing in subsequent years, it said, reiterating projections it made two months ago.

Susanna Moorehead, new head of the OECD Development Assistance Committee. Photo by: OECD

New OECD DAC chair vows to promote gender equality


LONDON — The new chair of the OECD’s Development Assistance Committee, Susanna Moorehead, has vowed to make gender equality a major focus under her watch and revealed plans for a new recommendation around ending sexual exploitation, abuse, and harassment in the aid sector.

CreditCreditDaniel Roland/Agence France-Presse — Getty Images

Global Economy Slows, Pushing Europe’s Central Bank to Make a Surprise Move


FRANKFURT — Just a few months ago, the European Central Bank put the brakes on a vast economic stimulus program devised during the financial crisis. On Thursday, it unexpectedly reversed course and revived some of the measures, signaling the rising threat of a recession.

Photograph: Mark Kerrison/Alamy

UK pledges £2m to help end stigma and shame of period poverty


The UK government has announced £2m to support organisations around the world to end period poverty by 2030.

Pablo Martinez Monsivais/AP

India Becomes Trump's Latest Trade Target


In his latest salvo against unfair trade practices in a major Asian market, President Trump says he plans to end preferential trade treatment for India, which sought to downplay the significance of the move.

Ziad Hayek, an expert on public-private partnerships and former investment banker. Photo by: Lebanon’s High Council for Privatization and PPP

Lebanon withdraws World Bank nominee under pressure


WASHINGTON — Lebanon has withdrawn its nomination of Ziad Hayek to be the next World Bank president. Hayek told Devex the Lebanese government made its decision because of “pressure” from other governments.

DEVEX

Calls for stronger accountability after IFC Supreme Court ruling


LONDON — The U.S. Supreme Court decision that the World Bank does not have absolute immunity from prosecution is unlikely to trigger a flood of lawsuits but it could bolster calls for the institution to strengthen its internal accountability mechanisms, international lawyers said.