Japanese Prime Minister Shinzo Abe will offer Myanmar 40 billion yen ($395 million) of new funds and exempt about 200 billion yen of delinquent debt when he meets President Thein Sein today, Jiji Press reported without citing anyone.
The global sugar surplus in the 2013-14 season will be 12 percent smaller than initially estimated as leading producer Brazil, Russia and the European Union have smaller-than-forecast crops, said Kingsman SA.
Prime Minister Shinzo Abe today becomes the first Japanese leader to visit Myanmar in 36 years as his nation’s companies seek to invest in the former dictatorship, which has some of the cheapest labor in Asia.
Asian stocks declined, extending losses from the biggest decline in a year and a half, as Australian banks fell. Japan shares rose on a volatile day of trading after the biggest rout since the March 2011 earthquake.
It’s been a challenging year for emerging markets. The hugely popular Vanguard FTSE Emerging Markets ETF (VWO) is down about 1 percent so far in 2013; the iShares MSCI Emerging Markets Index (EEM) has fallen 2.1 percent. Bucking the trend is the PowerShares DWA Emerging Markets Technical Leaders Portfolio (PIE). That ETF is up 14.6 percent during the same period. How is that possible?