RPT-UPDATE 4-More countries say to join China-backed AIIB 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...
The other biggest loser in oil's slide: Angola Plunging oil has been a windfall for U.S. consumers, but in energy-reliant countries like Angola, however, the effect has been far less beneficial.
| By: Will Duke, special to CNBC.com
China's Xi: Trade between China and Silk Road nations to exceed $2.5 trln BEIJING, March 29- China's President Xi Jinping said he hoped its annual trade with the countries involved in Beijing's plan to create a modern Silk Road would surpass $2.5 trillion in a decade. Projects under the plan include a network of railways, highways, oil and gas pipelines, power grids, Internet networks, maritime and other infrastructure links across...
| By: Sui-Lee Wee
ANALYSIS-Once-bullish fund managers start to capitulate on oil prices NEW YORK, March 29- Last fall, when the price of oil started dropping, fund manager Craig Hodges figured crude would rebound in 2015 and began buying shares of companies he thought would be unfairly hit, including construction company Primoris Services Corp and Eagle Materials Inc, which produces sand used in fracked wells. While his fund is top-loaded with...
| By: David Randall
US to submit plans to fight global warming; most others delay OSLO/ WASHINGTON, March 29- The United States will submit plans for slowing global warming to the United Nations early this week but most governments will miss an informal March 31 deadline, complicating work on a global climate deal due in December. The U.S. submission, on Monday or Tuesday according to a White House official, adds to national strategies beyond...
| By: Alister Doyle and Valerie Volcovici
UPDATE 1-Denmark applies to join China-backed AIIB investment bank BEIJING, March 29- Denmark has applied to join the Beijing-led Asian Infrastructure Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings of the United States. The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the...
Russia's rich forego some luxuries but still back Putin *President wants rich to keep money in Russia. The former Mrs Russia and Mrs Globe beauty pageant winner is among Russia's super rich but even she and many of her wealthy friends are feeling the pinch from the economic crisis. But the enforced modesty has not yet driven the super wealthy out of Russia or against President Vladimir Putin, who has fanned patriotism...
| By: Elizabeth Piper
Beijing says Denmark applies to join China-backed AIIB investment bank BEIJING, March 29- Denmark has applied to join the Beijing-led Asian Infrastructure Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings in the United States. The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the...
UPDATE 1-ChemChina chairman says hopes to re-list Pirelli in Italy BEIJING, March 29- The chairman of China National Chemical Corp said on Sunday he hopes to re-list Italy's Pirelli on the Italian stock exchange after his firm agreed earlier this month to acquire the world's fifth-largest tyre maker. Ren Jianxin also warned that a counterbid for Pirelli would hurt the Italian firm's investors and long-term strategy.
| By: Chen Aizhu and Matthew Miller
India's diamond polishers lose their sparkle A tough market and weaker demand mean have slowed growth in India's diamond market where 14 of every 15 diamonds set in jewelry around the world are processed.
Source: Financial Times
| By: Avantika Chilkoti