Interest rates can stay low for longer, says Bank of England deputy chief

The Bank of England can afford to keep interest rates low for longer than previously thought, deputy governor Jon Cunliffe has said, in comments that will reinforce the market view that rates will remain at 0.5% until at least the middle of next year.

South Korea's president warns of long-term economic stagnation risk

(Reuters) - South Korean President Park Geun-hye warned the economy is at risk of falling into long-term stagnation and urged for speedier handling of economic law bills in parliament.

US official urges Vietnam to improve human rights

HANOI, Vietnam (AP) — A U.S. official said Sunday that while Vietnam has made progress on human rights, it must do more if it is to forge closer economic and security ties with the United States.

Raise UK interest rates now, says Bank of England policymaker

The Bank of England should begin raising interest rates now, because spare capacity in Britain’s fast-recovering economy could be used up by the middle of next year, adding to inflation pressures, a Bank policymaker said in a Sunday newspaper.

India, 20 others set up Asian Infrastructure Investment Bank

India along with 20 other countries on Friday signed an agreement to become founding members of the China-backed Asian Infrastructure Investment Bank (AIIB) to aid the infrastructure development in the Asian region and reduce the dependence on Western-dominated World Bank and IMF.

EU budget: Britain must pay 'and that's that' says MEP

Europe expects the UK to pay an extra £1.7bn towards the EU budget "and that's that", a vice president of the European Parliament has said.

Russia's Sberbank launches legal challenge against EU over Ukraine sanctions

The state-controlled bank confirmed it had filed a legal challenge at the General Court of the European Court of Justice on Thursday, but did not comment on the terms of the challenge.