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China-backed AIIB approves first loans

BEIJING: The China-backed Asian Infrastructure Investment Bank (AIIB) approved its first four loans totalling over half a billion dollars, it announced Friday, as it joined forces with putative rivals to finance projects across Asia.

AIIB will boost investment in region: Xi

BEIJING: The new Asian Infrastructure Investment Bank will boost investment in the region while contributing to "fairer" global economic governance, Chinese President Xi Jinping said Saturday at the formal opening ceremony in Beijing.

IDB puts Islamic finance on AIIB drawing board

SARAJEVO: The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told…