Emerging Markets News
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Updated 16 minutes ago
Former Citigroup Inc. Chief Executive Officer Vikram Pandit is buying a stake in India’s JM Financial Ltd. and taking a leadership role as it seeks to set up a bank, the Mumbai-based company said.
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Updated 17 minutes ago
Russia’s economy grew at the weakest pace since 2009 in the first quarter as investment at companies including OAO Gazprom cooled and the euro area’s longest recession hurt demand for commodity exports.
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Updated 32 minutes ago
Emerging-market stocks headed for the first weekly loss in a month as the longest slump in gold in four years dragged producers lower. Turkish bonds rallied after Moody’s Investors Service raised the nation to investment grade.
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Updated 1 hour, 2 minutes ago
Overseas investors are stepping up purchases of Indian shares, buying the most since February on May 15, amid speculation slowing inflation will give the central bank more scope to cut interest rates to stoke economic growth.
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Updated 18 minutes ago
The Dollar Index rose to the highest level since July while South African and Australian currencies fell on speculation the Federal Reserve will scale back stimulus measures. U.S. stock-index futures gained while gold dropped.
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Updated 2 hours, 5 minutes ago
GlaxoSmithKline Plc, the U.K.’s biggest drugmaker, said price cuts will accelerate volume sales of its medicines in emerging markets led by China as the company extends its reach to less well-off patients.
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Updated 2 hours, 16 minutes ago
Investors seeking higher yields are buying structured notes tied for the first time to the debt of emerging-market nations from the Bahamas to Lithuania and Honduras.
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Updated 1 hour, 9 minutes ago
Michelin & Cie, Europe’s largest tiremaker, stuck to its forecast to keep 2013 profit “stable” as growing demand for high-margin tires for mining vehicles help offset declining demand in Europe.
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Updated 3 hours ago
Philippine peso forwards had a second weekly decline on speculation the Federal Reserve will scale back its monetary easing, reducing the flow of funds to emerging markets.
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Updated 1 hour, 32 minutes ago
Philippine stocks fell the most among Asian emerging markets, extending a decline from a record, after valuations surged and on speculation first-quarter economic growth will weaken.
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