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India inflation surges to three-year high of 7.6pc
NEW DELHI: Indian annual inflation rose to a three-year high of 7.61 per cent late last month, prompting Finance Minister Palaniappan Chidambaram to pledge that the government would take more action to tame prices if needed.However, Chidambaram said the

Mystery Indian analyst spooks world economy
Arjun 'Spike' Murti has forecast that a barrel of oil could even touch $ 200 (Reuters Photo) WASHINGTON: They are calling him Arjun 'Spike' Murti, but his real middle name is Narayana, the supreme manifestation of the Hindu God Vishnu. Supreme he is, in

Indian inflation hits 4-year peak
NEW DELHI, May 9: India's annual inflation rate rose marginally to a near four-year high at 7.61 per cent on the back of rising food prices, official data released on Friday showed. The government immediately announced prices were stabilising and would

Nokia looks to emerging markets to...
Nokia is in discussions to open another design base, possibly in the Far East, in a bid to tap into the growth potential of the mobile communications market in emerging nations. Nokia chief designer Alastair Curtis says he is looking to bolster the

China B-shares close lower led by property stocks on inflation fears
250 words BEIJING (XFN-ASIA) - China B-shares closed lower led by property stocks ahead of April inflation data due Monday, dealers said. A Shanghai-based analyst said property shares were under pressure because China may move to raise interest rates to

Hong Kong shares close lower on China inflation worries, oil price spike [XFNA]
HONG KONG (Thomson Financial) - Hong Kong shares closed sharply lower on Friday, in line with the Shanghai market's decline, as investors worried that a likely worsening of inflation in April may prompt Beijing to raise interest rates again and implement

Hong Kong shares close lower on China inflation worries, oil price spike -UPDATE [XFNA]
HONG KONG (Thomson Financial) - Hong Kong shares closed sharply lower on Friday in line with the Shanghai market's decline on fears Beijing may raise interest rates again and implement other tightening measures due to rising inflation. Bejing will

IMF approves 3.65 billion dollar loan to Turkey
WASHINGTON (AFP) The International Monetary Fund on Friday approved a 3.65-billion-dollar loan to Turkey, the final segment of a three-year stand-by credit worth nearly 10 billion dollars. 'The Turkish economy has continued to perform reasonably well

World Bank Group provides fund to off-grid lighting in Africa
WASHINGTON, May 9 (Xinhua) -- The World Bank Group awarded millions of dollars to 16 organizations winning out in an 'innovative lighting projects for off-grid Africa' competition, according to a news release published on the World Bank website Friday.

China bracing for slower economic growth
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India's inflation hits new high of 7.61% on prices
NEW DELHI -- India's inflation rate has touched a three-and-a-half-year high of 7.61 percent due to rising prices of food and some manufactured products, officials said Friday. The increase in the wholesale price-based inflation was recorded for the week

The jigsaw puzzles of China's economy
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Sensex ends at 3 week low at 16,737 points
Mumbai, May 9: The key benchmark Sensitive index of the Bombay Stock Exchange (BSE) today closed at a nearly three week low at 16,737.07 with a big loss of 343.58 points on heavy panic selling pressure by mutual funds on concerns about the rising

Sensex plummets by over 400 points (Roundup)
Mumbai, March 9: Indian equities markets plummeted sharply Friday, with heavy selling in key sector scrips, mirroring international market trends. The markets opened in the red following international cues and failed to really pick up anytime during the

China's inflation likely to drop in Q2
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ADRs in Focus: Emerging markets oil and gas
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Emerging markets oil and gas ADRs mostly fall despite record crude prices; Petrobras shares up
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Inflation rises again in India
New Delhi: India's annual inflation rate rose marginally to a near four-year high at 7.61 percent on the back of rising food prices, official data released Friday showed. The government immediately announced prices were stabilising and would soon come

International Leaders: Brazil Latest To Ring Alarm On Rising Inflation
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EBRD looks at expansion to Turkey
The European Bank for Reconstruction and Development is considering extending its activities to Turkey in a move that would see the development institution operate outside the former communist countries for the first time. The bank's board agreed on

Kazkommertsbank buys out 35% of Kazkommerts-Polis from EBRD
Almaty. May 7. Interfax-Kazakhstan - Kazkommertsbank (KKB) has bought 35% of Kazkommerts-Polis, insurance company, from the European Bank for Reconstruction and Development (EBRD). The full version is available for subscribers only. To subscribe please

IMF sees 9% growth for China
The International Monetary Fund (IMF) said Thursday it has adjusted its forecasts for the global economic growth in 2008 downward to below 4 percent, with a growth of just above 9 percent for the Chinese economy. The recovery in the global economy will

Sensex ends below 17K
below 17K level as bears continued to rule on the Dalal Street for the straight fifth sessions on Friday. They had everything in their stride through which they dominated the trading ring - high inflation, weak Asian markets and high crude oil. PNS \

South Asia news, business and economy from India and Pakistan
As if a crippling medical manpower crunch - with just one doctor currently available for every 10,000 Indians - wasn't bad enough, India is also poised to hold a whopping 60% of the world's heart disease patients by 2010, according to a recent study by

IMF completes Turkey review, freeing up $3.65 billion loan
WASHINGTON: The International Monetary Fund completed its final review Friday of Turkey's $10 billion (?6.4 billion) stand-by loan facility that is now drawing to a close after three years. Officials in Ankara have said there will be no new program and

Brazil president finds 'risk free' US economy laughable
BRASILIA, Brazil: President Luiz Inacio Lula da Silva marveled at America's 'zero risk' financial rating on Friday, raising some laughs as he wondered how ratings agencies could call the troubled U.S. economy perfectly safe. 'I'm amazed to see that the

India: A Political Move Against Inflation
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Sensex ends down 344pts; Reliance drops 5%
Sensex ends down 344pts; Reliance drops 5%BS Reporter / Mumbai May 09, 2008 The Sensex opened 60 points lower at 17,021, and soon slipped below the 17,000-mark to 16,975. Selective buying in morning trades saw the index rebound into positive zone and

India's inflation rate moves up to new high
New Delhi, May 9: India's annual rate of inflation rose to a new high of 7.61 percent for the week ended April 26 from 7.57 percent for the week before amid assurances from Finance Minister P. Chidambaram that more steps will be taken to rein in prices.

Sensex down 259 points
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