Economic Regions BRICS

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  • SHANGHAI Aug 31- China's yuan firmed on Monday after the central bank set a stronger guidance rate while it also appeared to continue using state-owned banks to support the Chinese currency, traders said. Most of the losses came after the People's Bank of China surprised markets by devaluing the yuan by nearly 2 percent on Aug. 11. After the abrupt devaluation on...

  • BEIJING, Aug 31- China's slowing economy has taken its toll on the first-half earnings of major construction machinery makers Zoomlion Heavy Industry Science and Technology Co Ltd and Sany Heavy Industry Co Ltd.. Even China's pledge to support the Silk Road infrastructure initiative with $40 billion worth of investments may not be enough to revive the heavy...

  • Indian economy offers hope as China struggles Sunday, 30 Aug 2015 | 5:00 PM ET

    NEW DELHI, Aug 31- For investors worried about the health of emerging economies, India's gross domestic product data for April-June should supply some cheer on Monday- the country is expected to remain the fastest growing major economy for a second straight quarter. But doubts persist over India's new way of calculating GDP, introduced early this year, even...

  • BEIJING, Aug 30- China's economy is growing at a "reasonable" pace and, despite growing pressure, the government can handle well the risks the country faces, Chinese Premier Li Keqiang said. Li said international market instability "has increased the uncertainties around the global economic recovery, and the impact on China's financial market and imports and...

  • SAO PAULO, Aug 28- Brazil's economy shrank 1.9 percent in the second quarter, sinking into a recession that has hammered the popularity of President Dilma Rousseff as she struggles to save the country's investment-grade credit rating amid a vast corruption scandal. "The drop in consumption shows the crisis of confidence the economy is facing," said Newton Rosa,...

  • SAO PAULO, Aug 28- Brazil's economy shrank 1.9 percent in the second quarter, sinking the country into a recession that has decimated the popularity of President Dilma Rousseff as she struggles to save the country's investment-grade credit rating amid a vast corruption scandal. The quarterly contraction, reported by government statistics agency IBGE on...

  • Aug 28- China's central bank is highly likely to ease monetary policy again by the end of this year, according to economists surveyed by Reuters, as it seeks to support a rapidly cooling economy and calm financial markets. While prospects of further easing will calm investors who are jittery over the effects a China slowdown could have on global growth, some...

  • SHANGHAI, Aug 28- China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot trading to support the yuan," said a dealer at a major European bank in Shanghai.

  • SHANGHAI, Aug 27- China's yuan closed firmer against the dollar on Thursday as traders cited large transactions by state-owned banks possibly on behalf of the central bank, which supported the Chinese currency in both spot and derivative markets. "Major state banks did some large deals, supporting the yuan's value," said a dealer at a European bank in Shanghai.

  • *China, El Nino pose risks to outlook. MANILA, Aug 27- The Philippine economy rebounded with growth of 5.6 percent in the second quarter, defying a regional slowdown thanks to robust government spending, but faltering exports and deepening economic woes in China tempered the outlook. While annual growth was the third-fastest in the region after China and Vietnam,...

  • Nikkei rises as Wall Street gains soothe sentiment Wednesday, 26 Aug 2015 | 10:19 PM ET

    TOKYO, Aug 27- Japan's Nikkei share average rose on Thursday after a strong rebound on Wall Street eased investors' fears of a prolonged global market rout. In a sign that the faltering Chinese economy and slumping oil prices could affect U.S. monetary policy, New York Fed President William Dudley said the prospect of a September rate hike seemed "less compelling"...

  • BERLIN, Aug 26- Germany's export exposure to China, for years a source of economic strength, is fast turning into a risk that raises questions about the health of other sources of growth in Europe's largest economy. For years, its EU peers tried- and failed- to match Germany's export prowess in China, where German companies profited from the infrastructure and...

  • Indian construction slowdown hits Modi's jobs promise Wednesday, 26 Aug 2015 | 9:00 AM ET

    He joins more than half a million workers let go from sites around India's capital in the last 18 months, in a stark sign that the ground reality in Asia's third-largest economy is far from as rosy as official data suggests. The deepening downturn in India's crucial building sector makes it easily understandable why Prime Minister Narendra Modi's image as the...

  • *Paddy Power surges on Betfair merger plan. *Europe bourses in 2015: http://link.reuters.com/pap87v. LONDON, Aug 26- The pan-European FTSEurofirst 300 index pared losses of nearly 3 percent on Wednesday, despite persistent concerns about China's economy, on hopes of further monetary support from the European Central Bank.

  • *PBOC says "still downward pressure" on China growth. HONG KONG/ SHANGHAI, Aug 26- China's turbulent stock markets slipped again on Wednesday, as a double-barrelled blast of central bank stimulus failed to convince investors of Beijing's ability to jolt the world's second biggest economy out of its slowdown. The response from China's two main stock indexes- never...

  • *Euro, yen seen benefiting from risk aversion longer term. LONDON, Aug 26- The dollar cut gains against the safe-haven yen and euro on Wednesday, as Chinese and European stock markets lost ground despite China's easing measures, with most investors fretting over the outlook for the global economy. The euro briefly turned higher on the day, rising to $1.1515 in...

  • HONG KONG/ SHANGHAI, Aug 26- China's turbulent stock markets turned sharply higher at midday on Wednesday, following Tuesday's strong dose of central bank stimulus, though confidence in Beijing's ability to jolt the economy out of its slowdown remained fragile. China's two main stock markets, never a reliable barometer of the domestic economy, struggled to...

  • SHANGHAI, Aug 26- China's yuan fell against the dollar on Wednesday after the central bank cut the one-year benchmark bank lending rate by 25 basis points and reserve requirements by 50 basis points for most big banks. The People's Bank of China set the midpoint rate at 6.4043 per dollar prior to market open, 0.09 percent weaker than the previous fix of 6.3987 and...

  • NEW YORK, Aug 26- Swiss commodities merchant Trafigura is ending a five-year foray into the lucrative base metals storage business just as warehousing firms are bracing for sheds to fill up amid concerns a China- led slowdown could stall the global economy. On Tuesday, its logistics and warehouse unit Impala Terminals scrapped plans for a metals warehousing...

  • SHANGHAI, Aug 26- China's major stock indexes opened up on Wednesday after aggressive monetary easings announced by the central bank on Tuesday evening following a massive market slide. China's Financial Futures Exchanges announced Wednesday morning that they will raise transaction fees and margin requirements for index futures to curb speculation.