China's Belt and Road investments since 2013 total $60 billion: state planner

China is urgently seeking support from global lenders to close a yawning financing gap for projects under its "Belt and Road Initiative", a top official said. "Roads and railways connectivity is important for us and we want investment in this sector", Mahat said. "Anyone can join it". It's all created to deepen economic ties with Asian, European and African countries along old Silk Road routes, an initiative Xi unveiled in 2013 that's part of a broader plan to boost his nation's standing in ...

Some Republicans express concern over Comey firing, call for special prosecutor

I hope you won't either. However, his characterisation was at odds with that of the top Republicans and Democrats on the Senate Intelligence Committee. "I said, 'If it's possible would you let me know, am I under investigation?' He said, 'You are not under investigation'". Comey said that he responded, "Yes, you will have that".

Merrill Lynch Preps Commission-Based IRAs

Merrill Lynch Preps Commission-Based IRAs

Merrill will also allow clients in existing brokerage-based accounts to keep their investments past the DOL rule's scheduled implementation date, but they will not be able to make new purchases past June 9, according to the memo. In Merrill's call to FAs this week, the wirehouse said it would offer a "limited objective brokerage IRA" starting June 12, according to the memo. In addition to IAP, these account would initially be for cash and bank deposits only, but could to expand to include a ...

Chinese rap song warns against THAAD in South Korea

The Chinese military has just successfully test-fired a new kind of missile near the Korean Peninsula. "The test achieved the expected result", it said, without disclosing its exact details. It did not reveal the type of missile. "The test missile might be a new modified DF-26A anti-ship missile launched from a marine weapons testing ground in southern Liaoning", Wong said.

Puerto Rico files for bankruptcy protection

Puerto Rico files for bankruptcy protection

The plight may serve as a lesson and cautionary tale for bondholders, and complicates the USVI's situation, as Puerto Rico and the U.S. Virgin Islands are close in proximity, and have numerous same problems. Nader Tavakoli is the former chief executive of Ambac Financial Group, a large insurer of Puerto Rico debt. Title III incorporates features of chapter 9, the section of the US bankruptcy code covering insolvent municipal entities.

South Korea's Moon to send envoys to Beijing to ease tensions

He told Xi the ultimate goal of sanctions was to persuade North Korea to engage in dialogue about abolishing its nuclear program. But until Thursday, South Korea had not been invited. Tension has been high for months on the Korean peninsula over North Korea's nuclear and missile development and fears it will conduct a sixth nuclear test or test another ballistic missile in defiance of U.N.