Japanese Prime Minister Shinzo Abe urged companies to increase wages faster than gains in the cost of living to break the legacy of 15 years of deflation, and praised Toyota Motor Corp. and Hitachi Ltd. for pledging to help.
Chinese banks’ funding constraints are set to ease after policy makers authorized the sale of certificate of deposits in a move toward loosening control over interest rates in the world’s second-largest economy.
Turkey’s first global fund dedicated to Islamic investors will beat returns from Shariah-compliant bank deposits and will lure inflows of $1 billion during the next three years, its chief executive officer said.
Brazilian President Dilma Rousseff is mobilizing her cabinet to persuade the nation’s highest court to delay ruling on a case that could cost banks $65 billion and shrink credit, according to two government officials briefed on the matter.
Banco do Brasil SA fell to an 11- week low, leading a decline among Brazilian lenders before the Supreme Court starts ruling on depositor lawsuits that could cost the country’s banks 149 billion reais ($65 billion).
Brazil’s economy would be shaken and credit might contract by as much as 1 trillion reais ($437 billion) if the nation’s high court rules against banks this week on depositor lawsuits, former Finance Minister Marcilio Marques Moreira said.
Egypt paid the lowest yield on record to raise $1.8 billion in an auction of dollar-denominated treasury bills as additional aid pledges from the Persian Gulf overshadowed low demand for the securities.