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(MENAFN - AFP) The China-backed Asian Infrastructure Investment Bank (AIIB) said Thursday it has approved 13 new prospective members including Canada, in a coup for Beijing after Washington failed to dissuade US allies from signing up.

The Beijing-headquartered multilateral lender, which began operations earlier last year, has been seen by some as a rival to the World Bank ...

(MENAFN - AFP) South Korea offered troubled Daewoo Shipbuilding & Marine Co. a new $6 billion bailout on Thursday, as the giant firm's financial crisis worsens.

Daewoo is the world's largest shipyard in terms of its order book and was previously given a 4.2 trillion won ($3.8 billion) aid package in 2015.

It is majority-owned by state-owned banks. Previously it ...

(MENAFN - AFP) For years headquartered in dull but convenient shopping malls, Tokyo Fashion Week has always been a poor cousin to the artistry of Paris or the commercial dynamism of New York.

But this season a growing number of designers are branching out in search of new pastures, consciously or sub-consciously taking tips from the more seasoned fashion weeks where location ...

(MENAFN - AFP) Huang Xiaoshuai and his wife last year splashed out $70,000 for a large painting of fish by Oscar-winning actor Adrien Brody -- part of a growing clique of young, affluent Chinese art enthusiasts building their own high-end collections.

The picture now hangs in their Shanghai home and the couple, along with other mainland collectors, have flown in to attend ...

(MENAFN - AFP) American Airlines is in advanced talks to buy a $200 million stake in Asia's biggest airline China Southern, reports said Thursday, as it looks to get a shoo-in to the country's huge aviation market.

The Texas-based company plans to take the stake in the Chinese firm's Hong Kong-listed shares through a private placement, Bloomberg News reported, quoting people ...

(MENAFN - AFP) Bent over the machines for hours with headphones to block out the whirring noise, textile workers in Bulgaria, which holds elections Sunday, earn a pittance even after 10 years of EU membership.

"We sew more cheaply here than in China," industry association chief Radina Bankova shrugged in her factory in the northern town of Lovech as her employees cut, stitched ...

(MENAFN - AFP) The House of Representatives votes Thursday on long-awaited legislation endorsed by US President Donald Trump that replaces his predecessor's health care reforms.

Supporters hail the plan as a more free-market, patient-centered system.

But how would it work

Here are key points about the current health care system -- which is credited with helping ...

(MENAFN - AFP) A new vaccine that is cheap to make and does not require refrigeration has shown promise in preventing rotavirus, a contagious and fatal disease that disproportionately strikes children in Africa, researchers said Wednesday.

A trial in Niger found that the new vaccine was almost 67 percent effective in preventing gastroenteritis caused by rotavirus, which is ...

(MENAFN - AFP) AT&T and Verizon on Wednesday joined global firms pulling ads from Google, saying they did not want their brands associated with inappropriate content on the internet giant.

The moves by the two US telecom giants came despite a pledge by Google this week to offer new tools for companies to avoid placing ads alongside undesirable websites or videos.

"We ...

(MENAFN - AFP) Cheerleader outfits can be protected by copyright, the US Supreme Court ruled Wednesday in a verdict criticized by some as curbing creative freedom in the world of fashion and costumes.

The vote among the eight judges was 6-2, a rare instance in which conservatives and liberals on the nation's highest court agreed on something.

The case may seem minor ...

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