Rahul Bajoria News
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India’s economy expanded less than 5 percent for a second straight quarter as Prime Minister Manmohan Singh struggled to revive investment, adding pressure for further government policy changes to spur growth. Stocks slid.
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Malaysia Prime Minister Najib Razak said stocks and the ringgit would plunge if he loses next month’s election, contrasting his government’s pursuit of stable change with the upheaval that has engulfed the Middle East.
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Investors may profit from receiving Thailand’s one-year non-deliverable forward swap starting in 12 months because the rate overestimates the potential increase in local borrowing costs, Barclays Capital Plc said.
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Bank of Thailand Governor Prasarn Trairatvorakul said existing measures to curb volatility in the baht are appropriate, though he didn’t rule out using additional tools if the currency’s appreciation accelerates.
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The biggest rupee rally in 15 months may be coming to an end as a widening current-account deficit erodes the benefits of surging inflows of overseas investment.
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India’s economy expanded at the fastest pace in 2 1/2 years, increasing pressure on the central bank to extend the most aggressive round of monetary-policy tightening in Asia.
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Malaysia held interest rates unchanged for an 11th straight meeting as a strengthening global recovery reduced the need for monetary stimulus.
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Thailand’s inflation rate held above 4 percent for the seventh straight month in October as the worst floods in almost 70 years destroyed crops and stoked food costs.
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Asian currencies rose this week, led by South Korea’s won and the Philippine peso, on speculation central banks will tolerate appreciation and raise borrowing costs to tame inflation.
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Mumbai housewife Sangita Shinde sought work in a shopping mall last year to help pay her children’s soaring school fees. Don’t expect to find that jump in living costs reflected in India’s inflation data.
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