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Asia Economy

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  • *India digs in heels as WTO trade deal deadline looms. NEW DELHI/ SYDNEY, July 31- The United States raised the issue of a stalled trade agreement during talks with India's finance minister on Thursday, a source at the meeting said, hours before a deadline passes for New Delhi to sign a deal backers say would boost the global economy.

  • BANGKOK, July 31- Thailand's central bank on Thursday insisted that economic activity "likely" picked up in the second quarter, one day after weak data fuelled concerns the country may have slipped into a recession after months of political turmoil.

  • Dow plunges as multiple worries vex investors Thursday, 31 Jul 2014 | 4:45 AM ET

    NEW YORK— For stock investors, the red flags were everywhere on Thursday. Whole Foods Market and Exxon Mobil sparked the selling after their quarterly results late Wednesday disappointed investors. Yum Brands, the owner of KFC and Pizza Hut, slumped after it said that its earnings would be crimped by a food safety scandal in China that involved repacked meat.

  • BEIJING, July 31- China should set an economic growth target of 6.5-7 percent for 2015 and refrain from stimulus measures unless the economy threatens to slow sharply from that level, the International Monetary Fund said on Thursday.

  • China should lower 2014 GDP target to 6.5-7%: IMF Wednesday, 30 Jul 2014 | 11:41 PM ET

    China should set a GDP target of 6.5-7 percent for 2015, below its 2014 goal, and refrain from stimulus measures, the IMF said.

  • *Nonfarm payrolls, PMI reports for China& euro zone next focus. SYDNEY/ TOKYO, July 31- The dollar held below a 10- month peak against a basket of major currencies on Thursday after soaring on upbeat U.S. growth data, with mixed views from the Federal Reserve tempering the rally.

  • BEIJING, July 31- China should set an economic growth target of 6.5-7 percent for 2015, below its goal for 2014, and refrain from stimulus measures unless activity threatens to slow sharply from that level, the International Monetary Fund said on Thursday.

  • METALS-Lead falls as investors book profits after rally Wednesday, 30 Jul 2014 | 12:11 PM ET

    *Manufacturing growth in China expands. LONDON, July 30- Lead prices fell on Wednesday as investors took profits after a rally this month, but a brighter global economic outlook is seen providing support to industrial metals. Part of that is driven by improving macro sentiment, "said commodity analyst Ivan Szpakowski of Citi in Shanghai.

  • Yemen nearly doubles fuel prices to narrow deficit Wednesday, 30 Jul 2014 | 10:14 AM ET

    SANAA, Yemen— Fuel prices in Yemen nearly doubled Wednesday as the government ended a fuel subsidy program costing billions of dollars, sparking scattered demonstrations that saw one person killed as authorities quickly dispersed protesters, security officials said.

  • IMF says Cyprus will need more spending cuts Wednesday, 30 Jul 2014 | 10:08 AM ET

    NICOSIA, Cyprus— Cyprus' president on Wednesday rebuffed an International Monetary Fund assessment that Cyprus will need to make additional spending cuts to meet a key target of its financial rescue program.

  • Thai junta sets plan for fast rail links to China Wednesday, 30 Jul 2014 | 6:21 AM ET

    BANGKOK— Thailand's military government approved a massive budget to upgrade the country's railways including high-speed rail that would eventually link with China as part of an eight-year plan to improve infrastructure, officials said Wednesday.

  • *Manufacturing growth in China expands. LONDON/ SYDNEY, July 30- Lead and zinc fell on Wednesday as investors took profits after a rally by both metals this month, but a brighter global economic outlook could see industrial metals resuming their rise. Part of that is driven by improving macro sentiment, "said commodity analyst Ivan Szpakowski of Citi in Shanghai.

  • *Finance Ministry cuts 2014 GDP growth f'cast to 2 pct from 2.6 pct. The poor output figures increases worries that Southeast Asia's second-largest economy may have slipped into recession in the second quarter, though the Finance Ministry said there was a little growth in April-June.

  • Europe shares drift ahead of US data; Asia gains Wednesday, 30 Jul 2014 | 4:33 AM ET

    TOKYO— World markets were mostly higher Wednesday ahead of U.S. economic data while cheery earnings from major Japanese companies such as Honda Motor Co. boosted Asian stocks. KEEPING SCORE: In morning trade in Europe, France's CAC 40 dipped 0.1 percent to 4,359.30 and Britain's FTSE 100 was flat at 6,807.75.

  • FOREX-Euro slides below $1.34, eyes on Fed and U.S. GDP Wednesday, 30 Jul 2014 | 4:32 AM ET

    LONDON, July 30- The euro fell below $1.34 on Wednesday for the first time since last November before German inflation data that was likely to add to the case for the European Central Bank pumping more money into a moribund economy.

  • SYDNEY/ SINGAPORE, July 30- The dollar touched a six-month high against a basket of major currencies on Wednesday, holding firm ahead of a Federal Reserve policy decision and U.S. gross domestic product data due later in the day.

  • SYDNEY/ SINGAPORE, July 30- The dollar hovered near a six-month high against a basket of currencies on Wednesday as investors awaited a Federal Reserve policy decision and U.S. gross domestic product data due later in the day.

  • Japan's output falls its fastest since 2011 quake Tuesday, 29 Jul 2014 | 10:35 PM ET
    A factory worker assembles Nissan's VQ engine on the line at the Iwaki engine plant in Iwaki, Fukushima prefecture, Japan.

    Japan's June industrial output fell its fastest since the quake in March 2011 as companies slowed production to offset a build-up in inventories.

  • SINGAPORE, July 30- Gold was trading in a tight range below $1,300 an ounce on Wednesday, as investors nervously awaited the end of a Federal Reserve policy meeting to gauge the U.S. central bank's view on the economy and monetary policy.

  • US bars Kurdish oil from entering Texas port Tuesday, 29 Jul 2014 | 2:44 PM ET

    FORT WORTH, Texas— The U.S. has barred a shipment of Kurdish crude oil from reaching the Texas coast amid concerns independent oil sales from Kurdistan could further weaken Iraq's fragile central government as it struggles to contain a Sunni military offensive.

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