More countries say to join China-backed AIIB investment bank

SHANGHAI/RIO DE JANEIRO - 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 (AIIB), adding clout to an institution seen as enhancing China's regional and global influence.


Philippines dismisses China concerns over South China Sea military repairs 8:45am GMT

MANILA - The Philippines dismissed concerns by China over its plan to repair military facilities in South China Sea, a foreign ministry spokesman said on Saturday, insisting Manila has sovereign rights over territories in the disputed areas.


U.K. and Switzerland follow Brazil to China-backed Asia investment bank 5:43am GMT

SHANGHAI/RIO DE JANEIRO - 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 (AIIB), a day after Brazil accepted China's invitation to join the AIIB.


China's Xi preaches peace in key note address 4:20am GMT

BOAO, China - Chinese President Xi Jinping said on Saturday that turmoil at home or abroad were not in the country's interests as its bitter past has shown, pledging that Beijing will never stray from its proclaimed path of peaceful development.

Thailand keeps suspected Uighurs in custody amid Turkey-China tug-of-war 27 Mar 2015

BANGKOK - A family of 17 suspected Uighur Muslims at the centre of a diplomatic tug-of-war between Turkey and China will remain in custody after a Thai court on Friday rejected their argument that their prolonged detention was illegal.


China 'seriously concerned' by Philippine's building in South China Sea 27 Mar 2015

BEIJING - China's Foreign Ministry expressed serious concern on Friday after the Philippines said it would resume repair and reconstruction works on disputed islands in the South China Sea, saying Manila was infringing on Chinese sovereignty.


China January-February industrial profits down 4.2 percent year-on-year, worst drop since 2012 27 Mar 2015

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.


Iron ore slump set to shrink China's mining capacity 27 Mar 2015

SHIJIAZHUANG, China - A slide in iron ore prices is turning the screw on China's fragmented mining sector, paving the way for closures and consolidation with three-quarters of the country's mining capacity operating at a loss, industry officials said on Friday.

South Korea sees gains for its infrastructure firms from joining AIIB 27 Mar 2015

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.


Australia ready to join China-led bank, seeks clarity on governance 27 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.

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