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  • RIO DE JANEIRO, March 27- Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank as a founding member. The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China's global influence. The United States had warned against the new institution but its European...

  • The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, institutions Washington helped found and over which it exerts considerable influence. Despite Washington's misgivings, U.S. allies Britain, France, Germany and Italy have said they would join the bank, while Australia, Japan and South Korea are considering doing so.

  • IMF, World Bank throw weight behind China-led bank Monday, 23 Mar 2015 | 11:27 AM ET

    Global institutions, including the IMF and the World Bank, have endorsed a China-led international bank, despite opposition from the U.S.

  • Why is China pushing for the AIIB   Sunday, 22 Mar 2015 | 11:16 PM ET
    Why is China pushing for the AIIB

    Jim McCaughan, CEO of Principal Global Investors, says the Asian Infrastructure Investment Bank (AIIB) is part of a bigger plan to endorse the yuan as a global reserve currency.

  • WASHINGTON, March 22- President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, The Wall Street Journal reported on Sunday. The United States, worried about China's growing diplomatic clout, has been...

  • WASHINGTON, March 22- President Barack Obama's administration is proposing that a new Chinese-led development bank over which Washington has voiced concerns work collaboratively with Western development groups like the World Bank, the Wall Street Journal reported on Sunday. The United States, worried about China's growing diplomatic clout, has been...

  • World Bank: We welcome China-led AIIB   Sunday, 22 Mar 2015 | 7:32 PM ET
    World Bank: We welcome China-led AIIB

    Sri Mulyani Indrawati, managing director of the World Bank, says the need for infrastructure development in Asia is "very big" and institutions like the Asian Development Bank won't be able to able to fill the gap alone.

  • Why energy investors are looking at the Caribbean Friday, 20 Mar 2015 | 3:48 PM ET
    Tourists look at posters for sale in Havana, Cuba, on December 18, 2014.

    Declining oil prices, the U.S. energy revolution and changing relations with Cuba have created new opportunities for energy investment in the Caribbean.

  • CARACAS, March 18- Venezuela asked a World Bank tribunal on Wednesday to toss out an order that it pay Swiss airport operator Flughafen Zurich AG and a Chilean partner around $36 million for the government takeover of airport facilities they operated in the country a decade ago. He said the request was filed with the World Bank's International Center for...

  • CARACAS, March 18- Venezuela asked a World Bank tribunal on Wednesday to toss out an order that it pay Swiss airport operator Flughafen Zurich AG and a Chilean partner nearly $36 million for the government takeover of airport facilities they operated in the country a decade ago. He said the request was filed with the World Bank's International Center for...

  • BERLIN, March 18- Chinese deputy finance minister Shi Yaobin has told a German newspaper his country would welcome the United States joining a new China- led Asian development bank. The United States has urged countries to think twice before signing up to the AIIB, which it sees as a rival to the World Bank, after Germany, France and Italy followed Britain in saying...

  • BERLIN/ WASHINGTON, March 17 (Reuters)- The United States urged countries on Tuesday to think twice about signing up to a new China- led Asian development bank that Washington sees as a rival to the World Bank after Germany, France and Italy followed Britain in saying they would join. The concerted move by U.S. allies to participate in Beijing's flagship economic...

  • PARIS/ BEIJING, March 17- Germany, France and Italy said on Tuesday they had agreed to join a new China- led Asian investment bank after close ally Britain defied U.S. pressure to become a founder member of a venture seen in Washington as a rival to the World Bank. It comes amid prickly trade negotiations between Brussels and Washington, and at a time when EU and Asian...

  • TOKYO, March 13- The president of the World Bank said on Friday he welcomed the setting up of the China-backed Asian Infrastructure Investment Bank, a day after Britain became the first Western nation to embrace the institution. The AIIB was launched in Beijing last year and was seen as a rival to the Western-dominated World and Asian Development Bank.

  • TOKYO, March 13- The president of the World Bank said on Friday he welcomed the setting up of the China-backed Asian Infrastructure Investment Bank, a day after Britain became the first Western nation to embrace the institution. The AIIB was launched in Beijing last year and was seen as a rival to the Western-dominated World and Asian Development Bank.

  • LONDON, March 13- Britain said it has sought to become a founding member of the Asian Infrastructure Investment Bank, making it the first Western nation to embrace the China- backed institution, but the United States reacted frostily to the development. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank.

  • UPDATE 1-UK to join China-backed Asian development bank Thursday, 12 Mar 2015 | 10:30 PM ET

    LONDON, March 12- Britain said it will seek to become a founding member of the Asian Infrastructure Investment Bank, a new regional body backed by China that has raised concerns in the United States about governance standards. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank in the region.

  • UK to join China-backed Asian development bank Thursday, 12 Mar 2015 | 6:27 PM ET

    LONDON, March 12- Britain said it will seek to become a founding member of the Asian Infrastructure Investment Bank, a new regional body backed by China that has raised concerns in the United States about governance standards. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank in the region.

  • World Bank admits botched resettlement policy Wednesday, 4 Mar 2015 | 12:24 PM ET

    World Bank President Jim Yong Kim pledged that "we must and will do better," on a call with reporters, and launched an action plan to address shortcomings. In a recent case, indigenous Anuak people in Ethiopia's Gambella region said the World Bank contributed to the Ethiopian government's "villagization" program that forced about 70,000 people off their land.

  • CARACAS, Feb 25- Venezuela has requested the annulment of a World Bank tribunal award that orders it pay Exxon Mobil Corp $1.6 billion in compensation for nationalizations, both sides said on Wednesday. The move contrasts with October, when Venezuela deemed the award a victory for its sovereignty and oil workers were shown on TV celebrating.