A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
DALIAN, China, July 1 (Reuters) - The Asian Infrastructure Investment Bank (AIIB) aims to finance infrastructure projects worth $10-12 billion annually over the coming years, and will maintain a prudent approach in investing in such deals, the bank's vice president of policy and strategy said.
The AIIB has 97 members and was launched in January 2016 to help meet Asia's infrastructure needs. Since starting its operations, it has financed some $8 billion in projects, mostly in Asia.
"We are gradually growing our investment, and that's very little compared to the infrastructure finance needs," Joachim von Amsberg told reporters on the sidelines of the World Economic Forum in the northeastern port city of Dalian.
"It's more important that we start with very high quality projects that really meet environmental and social standards and avoid corruption, rather than building up our investment as quickly as possible. So quality comes before quantity.
The AIIB aims to finance projects worth about $4 billion this year, about 20 percent more than the $3.3 billion it financed in 2018, the bank has said.
Von Amsberg said that the AIIB has been trying to avoid exacerbating debt risks in countries where it invests but still sees great potentials in Asia.
"We are very careful about investing in countries that face possible risks of debt distress. We are well aware how hurtful that distress can be for countries," he said.
China's Belt and Road programme has stoked foreign criticism that its opaque financing could lead to unsustainable debt and that it aims more to promote Chinese influence than development.
The China-U.S. trade war is having little impact on the AIIB, which still welcomes the United States to join the bank as one of its new members, von Amsberg added. (Reporting by Kevin Yao; Editing by Kim Coghill)