International Monetary Fund Managing Director Christine Lagarde said China isn’t intentionally weakening its currency and the government’s decision last month to widen the yuan’s trading band reflects an “internationalization” of the currency.
Citigroup Inc. cut Costa Rica’s growth forecast after Bank of America Corp. and Intel Corp. said they would fire 3,000 workers in the Central American nation following the opposition's victory in a presidential runoff.
Economic growth in sub-Saharan Africa is forecast to accelerate to 5.2 percent this year, driven by increasing investment to exploit the region’s natural resources and develop infrastructure, the World Bank said.
Maintaining local ownership of South African companies is the best way to boost economic growth, said Elias Masilela, who heads a fund manager that holds shares worth 11 percent of the market value of stocks traded in Johannesburg.
Australian Prime Minister Tony Abbott, having called Japan his country’s closest friend in Asia, will seek this week to overcome Chinese unease about his loyalties in a region beset by territorial tensions.