China

South Korea sees gains for its infrastructure firms from joining AIIB

SEJONG, South Korea/SEOUL - South Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said on Friday.

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Australia ready to join China-led bank, seeks clarity on governance 3:58am GMT

SYDNEY - Australia is "well and truly" disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said on Wednesday, but wants to know how much power Beijing would hold in the institution before a formal decision.

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China January-February industrial profits down 4.2 percent year-on-year, worst drop since 2012 3:42am GMT

BEIJING - China's industrial profits fell 4.2 percent in January-February from a year earlier as the economy slowed and profit margins deteriorated, moderating from an 8 percent drop in December but still the sharpest decline in the first two months since 2012.

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About 75 percent of China iron ore mining capacity loss-making - industry 3:41am GMT

SHIJIAZHUANG, China - Three-quarters of China's domestic iron ore capacity is incurring losses, an industry official said on Friday, as a sustained slump in the price of the steelmaking commodity batters higher cost producers.

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Japan still cautious on AIIB, to keep in contact with U.S 1:07am GMT

TOKYO - Japan remains cautious about joining the China-led Asian Infrastructure Investment Bank (AIIB), Finance Minister Taro Aso said on Friday, as a March 31 deadline draws near for becoming a founding member.

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Iran's Rouhani intervenes as deadline for nuclear deal approaches 26 Mar 2015

LAUSANNE, Switzerland - Iran's president spoke with the leaders of France, Britain, China and Russia on Thursday in an apparent effort to break an impasse to a nuclear deal between Tehran and major world powers. | Video

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Australia ready to join China-led bank, seeks clarity on governance 26 Mar 2015

SYDNEY - Australia is "well and truly" disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said on Wednesday, but wants to know how much power Beijing would hold in the institution before a formal decision.

Another U.S. ally, South Korea, seeks to join China-backed AIIB 26 Mar 2015

SEOUL - South Korea said on Thursday it has decided to seek to be a founding member of the Asian Infrastructure Investment Bank (AIIB), another key U.S. ally joining the China-led institution despite Washington's misgivings.

Pernod Ricard says sales improved in Chinese New Year 26 Mar 2015

PARIS - French drinks group Pernod Ricard said on Thursday that sales in China, its second-largest market, improved year-on-year during the Chinese New Year celebrations, and kept its target for higher operating profit this financial year.

China quietly drops limit on foreign fund investments 26 Mar 2015

SHANGHAI - China's foreign exchange regulator granted a foreign fund management company a quota of more than $1 billion (668.7 million pounds) on inbound portfolio investment for the first time on Thursday, in a move towards increasing international use of the yuan currency.

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