The World financial leaders will negotiate this week on how to give more voting rights in the World Bank to developing economies such as China. The talks are a prelude to a crucial battle for the International Monetary Fund, writes Reuters. World Bank President Robert Zoellick said in an interview with the agency that has plans for a capital increase of the international financial institution with 3.5 billion dollars, which will be the first of more than 20 years. The funds will come from rich countries and developing countries like China. This will help the World Bank to restore its capacity after large loans granted during the standoff. Discuss and question the change of the voting rights in the bank, which will generate additional $ 1 billion in fresh capital, which is quite a complex political issue because it means some countries, particularly in Europe, partly to give up rights their vote. Britain, one of the biggest sponsors in the bank, probably will not take a position before leaving the results of parliamentary elections on 6 May. Scandinavian countries, which are usually generous in terms of aid to developing countries are now reluctant to give up their voting rights. At its meeting in Pittsburgh last year by leaders of the G-20 agreed to transfer 3% of total voting rights at the World Bank and at least 5 percent in the International Monetary Fund.
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The British bank Barclays lay a pleasant surprise with its report for 2009, which was released today. He showed that the financial institution has made a profit of 11.6 billion liras in the year after the 2008 year was registered a positive result of 6,1 billion pounds. With a major contribution to the strong performance has Investment Banking division where he will be awarded significant bonuses. Employees in this unit will receive an average of 191 thousand pounds last year, transmit CNBC. Nearly half of the profit – 6,3 billion liras – accounted for the sale of the division of asset management Barclays Global Investors (BGI), it is clear from the report. Preliminary expectations of analysts polled by Reuters were for a profit of 11.2 billion pounds. Profit from operating activities, which does not include the sale of BGI, the impressive amount of 5.6 billion pounds. For comparison, in 2008 it amounted to 1,6 billion pounds. In the investment banking division Barclays Capital e achieved profit growth of 89 percent to 2,5 billion pounds. With a strong commitment to it’s acquisition of the investment business of Lehman Brothers in the United States, and the growth of positions in Europe and the United States.
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