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China-backed multilateral bank to take concrete shape this week
One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.
Airbnb closes in on $1.5 billion fundraising
Online home-rental marketplace Airbnb Inc is closing on a $1.5 billion fundraising that would boost the company's valuation to $24 billion, the Financial Times reported.
Rising interest rates pose new risk for banks: BIS
Rising interest rates after years of loose monetary policy will pose a fresh risk to banks' ability to absorb losses using capital buffers, the Bank for International Settlements said in its annual report on Sunday.
Volkswagen to launch budget car family in 2018: CEO in paper
Germany's Volkswagen (VOWG_p.DE) plans to launch a family of low cost budget cars in China and possibly elsewhere starting in 2018, its chief executive said in a newspaper interview on Sunday.