Emerging-market stocks advanced for the first time in four days as technology companies surged to a record after better-than-estimated earnings at Apple Inc. Turkey’s lira led gains among the world’s major currencies.
South American countries should consider creating fiscal stabilization funds to buffer their economies against a decline in commodity prices expected to damp growth in the coming years, the International Monetary Fund said today.
OAO Gazprombank executives are readying Russia’s third-largest lender for possible U.S. sanctions as the Obama administration prepares its response to escalating tensions in Ukraine, according to two people with knowledge of the deliberations.
Babson Capital Management LLC hired Natig Mustafayev from Credit Suisse Group AG, adding to a team of newly hired emerging-market debt managers as the $198 billion investment firm pushes into developing countries.
Novartis AG’s first-quarter profit was little changed as weaker currencies in Japan and emerging markets weighed on sales, offsetting gains from newer products such as the Gilenya treatment for multiple sclerosis.