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First ever Indian-American to head World Bank

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Former Mastercard boss Ajay Banga has been elected to lead the World Bank as it strives to help low-income countries overcome debt and combat climate change.

Mr Banga, nominated by President Joe Biden for the post, is the first-ever Indian American to head the bank.

He will replace David Malpass, who had sparked outcry by appearing to question the role of humans in climate change.

He begins his five-year term on 2 June.

Now a US citizen, Mr Banga started his career in his native India, where his father was an officer in the army. He worked at Nestle and Citigroup before joining Mastercard where he stayed for more than a decade.

US President Joe Biden called him “a transformative leader” who had the experience to run the World Bank.

“He will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction — including climate change,” Mr Biden said.

In announcing Mr Banga’s confirmation, the bank’s executive directors said in a statement that they looked forward to working with him “on all the World Bank Group’s ambitions and efforts aimed at tackling the toughest development challenges facing developing countries.”

The US, the World Bank’s biggest shareholder, has traditionally been in charge of selecting the person to lead the institution, which lends billions of dollars to countries each year.

Developing countries have in the past complained about this, but Mr Banga was the only candidate for president.

“Ajay was elected with resounding approval from the executive directors, and will start his mandate with incredibly strong support from the membership of the World Bank,” a senior US official said about the vote.

Mr Banga’s appointment comes at a consequential moment for the development organisation.

The US and other wealthy nations have been pushing the bank to increase its lending to fight climate change. The bank’s $100bn (£80bn) per year or so of loans to help developing countries cope with climate change falls far short of the $1tn they say is needed.

Many developing nations are worried the focus on climate change will divert attention away from its anti-poverty efforts.

Developing countries have been hard hit by the pandemic, rises in food and in energy prices, and unsustainable levels of debt.

As president of the World Bank, Mr Banga will have to address these issues – all without any clear additional money on the table.

In an interview with the BBC in in March, when Mr Banga was on a listening tour in Africa, he said he wanted the bank to be a “catalyst” and “thought leader” for action,

“We also need to bring in the private sector to be able to reach these ambitious targets that we all have,” he said.

(BBC News)

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Chongqing gears up for 25th Lijia International Intelligent Equipment expo

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The international internet celebrity city of Chongqing in China will host a grand equipment manufacturing industry event – the 25th Lijia International Intelligent Equipment Exhibition 2025 next month.

The Expo will be held at the Chongqing International Expo Center from May 13th to 16th, 2025, attracting exhibitors and professional visitors from all over the world to discuss and showcase the latest technologies and products in the equipment manufacturing industry.

This exhibition, spanning across 100,000 sq. meters will bring together 1,400 globally renowned enterprises which will showcase their intelligent manufacturing equipment and technology, particularly the latest achievements, cutting-edge technologies, and high-end products in the fields of machine tools, industrial automation and robots, tool holders and measuring tools, sheet metal, die-casting casting, molds, rubber and plastic.

The 2025 Lijia Exhibition will also create multiple themed exhibition islands showcasing manufacturing powerhouses of China, which will comprehensively showcase solutions to industry pain points through on-site demonstrations, technical explanations, and physical displays.

In addition, the exhibition will also hold over 100 industry conferences and events. The main forum, “FIM-Future Intelligent Manufacturing Conference,” focuses on future factories, with the theme of AI+manufacturing. Industry experts are expected to provide suggestions and recommendations for manufacturing transformation.

Organizers point out that for global manufacturing enterprises, the expo is not only an excellent opportunity to learn about the latest technologies and products in China’s equipment manufacturing industry, but also also an important platform for gaining a deeper understanding of the Chinese market and expanding international cooperation. It will also open up opportunities to engage in in-depth exchanges and cooperation with Chinese counterparts, and to jointly promote the development and prosperity of the global equipment manufacturing industry.

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India bans 16 Pakistani YouTube channels

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On the recommendations of the Ministry of Home Affairs, Government of India has banned 16 Pakistani YouTube channels for disseminating provocative and communally sensitive content, false and misleading narratives and misinformation against India, its Army and security agencies in the backdrop of the tragic Pahalgam terror incident in Jammu and Kashmir.

The ban on YouTube channels includes Dawn News, Ary News and Geo News.

The Centre also conveyed its strong sentiments to Jackie Martin, India head of BBC, regarding their reporting on the Pahalgam terror attack, says a government official. It also sent a letter to BBC for terming ‘terrorists’ as ‘militants’ and Indian government is closely monitoring the reporting of BBC on Pahalgam terror attack.

The Union Ministry of Information and Broadcasting (I&B) on Saturday (April 26, 2025) also issued an advisory asking all media channels within India to refrain from live coverage of defence operations, and the movement of security forces.

The advisory, which came amid reports of the government’s plans to carry out major anti-terrorist operations in the wake of the Pahalgam terror attack in Jammu & Kashmir, cautioned specifically against real-time coverage, dissemination of visuals, or reporting from “sources-based” information related to defence operations or movement.

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N Korea confirms it sent troops to fight for Russia in Ukraine war

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North Korea has for the first time confirmed that it sent troops to fight for Russia against Ukraine.

In a report on state news agency KCNA, Pyongyang’s military claimed its soldiers helped Russian forces “completely liberate” the Kursk border region, according to an order given by leader Kim Jong Un.

Pyongyang’s announcement comes just days after Russian Chief of Staff Valery Gerasimov praised the “heroism” of North Korean troops, the first time Moscow has publicly acknowledged their involvement.

Western officials had earlier told the BBC they believed at least 1,000 of the 11,000 troops sent from North Korea had been killed over three months.

Gerasimov also claims Moscow regained full control of the country’s western Kursk region – a claim denied by Ukraine.

Responding to the statement, the US said North Korea must now bear responsibility for perpetuating the war.

South Korean and Western intelligence have long reported that Pyongyang dispatched thousands of troops to Kursk last year.

The decision to deploy troops was in accordance with a mutual defense treaty between Pyongyang and Moscow, KCNA said.

“They who fought for justice are all heroes and representatives of the honour of the motherland,” Kim said according to KCNA.

North Korea and Russia demonstrated their “alliance and brotherhood” in Kursk, adding that a “friendship proven by blood” will greatly contribute to expanding the relationship “in every way”.

It added that North Korea would support the Russian army again.

KCNA did not say what would happen to the North Korean troops after their mission in Kursk ended and whether they would be able to return home.

Reports that North Korean soldiers had been deployed to fight for Russia first emerged in October, following the deepening of bilateral ties between Kim and Putin.

This included the signing of an accord where both Russian leader Vladimir Putin and Kim agreed to support each other if either country was dealing with “aggression”.

Military experts have said that the North Korean troops, reportedly from an “elite” unit called the Storm Corps, are unprepared for the realities of modern warfare.

“These are barely trained troops led by Russian officers who they don’t understand,” former British Army tank commander, Col Hamish de Bretton-Gordon had said earlier this year.

Despite this, Ukraine’s top military commander Gen Oleksandr Syrskyi had earlier also warned that North Korean soldiers were posing a significant problem for Ukrainian fighters on the front line.

“They are numerous. An additional 11,000-12,000 highly motivated and well-prepared soldiers who are conducting offensive actions. They operate based on Soviet tactics. They rely on their numbers,” the general told Ukraine’s TSN Tyzhden news programme.

(BBC News)

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