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  • UPDATE 1-World Bank sees protracted recession in Russia Wednesday, 1 Apr 2015 | 6:54 AM ET

    *World Bank sees Russian economy contracting in 2015 and 2016. MOSCOW, April 1- Russia faces a protracted recession as the impact of Western sanctions lingers and oil prices stay low, the World Bank said in a report published on Wednesday. The World Bank's lead economist for Russia, Birgit Hansl, said "adjustment to the new oil price reality and the sanctions...

  • Why the US should work with China-led AIIB Monday, 30 Mar 2015 | 8:34 PM ET
    Why the US should work with China-led AIIB

    Curtis Chin, Asia Fellow at Milken Institute and John Perkins, Author of "Confessions of an Economic Hit Man," explain why the U.S. should be involved with the Asian Infrastructure Investment Bank.

  • LONDON, March 30- The World Bank will hold an auction worth $25 million in June for U.N.-backed carbon credits from projects designed to cut methane emissions, the bank said on Monday. The so-called Pilot Auction Facility will offer tradable put options, giving project owners the right to sell credits to the bank's Methane and Climate Change Fund at a set price,...

  • SHANGHAI/ RIO DE JANEIRO, March 28- Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank, adding clout to an institution seen as enhancing China's regional and global influence. The AIIB, seen as a challenge to existing institutions the World Bank and...

  • More countries to join China-led investment bank Saturday, 28 Mar 2015 | 11:26 PM ET

    Russia, Australia and the Netherlands became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank.

  • SHANGHAI/ RIO DE JANEIRO, March 28- Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank, adding clout to an institution seen as enhancing China's regional and global influence. The AIIB, seen as a challenge to existing institutions the World Bank and...

  • UK, Switzerland accepted by China-led investment bank Saturday, 28 Mar 2015 | 1:52 AM ET

    China's Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank.

  • SHANGHAI/ RIO DE JANEIRO, March 28- China's Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank, a day after Brazil accepted China's invitation to join the AIIB. China's AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a...

  • 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. China's Finance Ministry said that Austria had also applied to join, and has...

  • 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...