Archive for the ‘Business and finance’ Category

China launches World Bank rival

China and India are backing a 21 country $100 billion Asian Infrastructure Investment Bank (AIIB) to challenge to the World Bank and Asian Development Bank.

Memorandum of understanding were signed with 21 Asian countries in Beijing Friday. Australia, Indonesia and … Read the rest

Russia opens Europe’s largest natural gas exchange

Russia launched a new and independent natural gas exchange that will reside in St. Petersburg, and will make the facility the largest market for natural gas trading in all of Europe.

Known as the St. Petersburg International Mercantile Exchange (SPIMEX), … Read the rest