China dismisses reports of seeking veto power in Asian bank

Last Updated: Wednesday, March 25, 2015, 19:09

China today dismissed reports that it was seeking or willing to forego its veto power in order to lure more European countries to join the AIIB, saying the new multilateral bank would be a "transparent and efficient" organisation.

EU investment bank seeks RBI nod to fund projects in Rupee

Last Updated: Sunday, March 22, 2015, 15:20

European Investment Bank (EIB), the world's largest multilateral borrower and lender, has sought Reserve Bank of India's approval to finance various infrastructure projects in the country in Indian rupee.

AIIB will be compatible with established international lenders: China

Last Updated: Saturday, March 21, 2015, 14:11

China has said that the Asian Infrastructure Investment Bank (AIIB) will be compatible with established international lenders like World Bank and it will not be a competitor to them, as it sought to allay concerns by the US and Japan over the new financial institution.

France, Germany, Italy sign up for China-led AIIB bank

Last Updated: Tuesday, March 17, 2015, 19:18

The three European countries followed suit days after the UK became the first Western nation to join the bank disregarding reservations expressed by the US which raised concerns over its transparency.

Defying US, European allies say they'll join China-led bank

Last Updated: Tuesday, March 17, 2015, 18:23

The concerted move to participate in Beijing`s flagship economic outreach project was a diplomatic blow for the United States, reflecting European eagerness to partner with China`s fast-growing economy, the second largest in the world.

France, Germany, Italy to join China-led infrastructure bank: Paris

Last Updated: Tuesday, March 17, 2015, 18:06

The $50 billion Asian Infrastructure Investment Bank (AIIB) has been feted by Beijing as a way of financing regional development, and is seen as a potential rival to US-based institutions such as the World Bank.

European Investment Bank to set up office in India

Last Updated: Sunday, March 15, 2015, 15:21

Impressed by India's economic reforms and its growth potential, the EU-owned European Investment Bank is planning to open its first office in the country soon to significantly expand its operations.

UK to join China-backed Asian development bank

Last Updated: Friday, March 13, 2015, 14:16

Britain said it has sought to become a founding member of the Asian Infrastructure Investment Bank (AIIB), making it the first Western nation to embrace the China-backed institution, but the United States reacted frostily to the development.

Australia considers joining Asian Infra Investment Bank

Last Updated: Friday, March 13, 2015, 13:58

Australia will consider joining the Asian Infrastructure Investment Bank (AIIB), Treasurer of Australia Joe Hockey said on Friday, a day after Britain applied to join the China-proposed bank as a founding member.

New Credit Suisse CEO dismisses lack of investment bank experience

Last Updated: Wednesday, March 11, 2015, 00:58

Credit Suisse`s incoming chief executive, Tidjane Thiam, brushed aside criticism that his track record in investment banking may not be strong enough to lead a company where investment banking ties up most of the bank`s capital.

JPMorgan to cut nearly USD 5 bn in expenses through 2017

Last Updated: Tuesday, February 24, 2015, 22:44

JPMorgan Chase today unveiled plans to eliminate hundreds of retail branches and some USD 100 billion in deposits as it announced nearly USD 5 billion in cost cuts in the next three years.

EU investment bank sees no new projects in Greece

Last Updated: Monday, February 23, 2015, 19:43

The EU`s investment bank said Monday it sees no need for new projects in Greece, focusing its efforts elsewhere to get the European economy back on track.