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  • Philippines cuts interest rates by quarter point Thursday, 25 Oct 2012 | 5:48 AM ET

    MANILA, Philippines-- The Philippine central bank Thursday cut interest rates by a quarter percentage point to record lows to boost the economy amid a global slump. Amando Tetangco said the bank's fourth rate cut this year brings the cumulative reduction to one percentage point.

  • PepsiCo builds Thai factory as bottler quits Thursday, 25 Oct 2012 | 5:46 AM ET

    BANGKOK-- PepsiCo Inc. has invested $170 million in a new factory in Thailand to stay ahead in one of the few markets where it outsells Coca-Cola after ending a longstanding bottling agreement with a local company.

  • SHANGHAI, Oct 25- China's yuan hit the strong-side limit of its daily trading band on Thursday morning. Spot yuan hit 6.2417 versus the dollar at around 1:40 p.m., putting the dollar/yuan rate one percent below the central bank's midpoint of 6.3047.

  • SINGAPORE, Oct 25- Brent futures rose above $108 on Thursday as positive economic data out of the world's top oil consumer the United States revived hopes of a recovery in demand growth, although a worsening outlook for Europe capped gains.

  • *Yuan hits all time record high in morning trade. SHANGHAI, Oct 25- China's yuan touched its strongest ever level on Thursday and crept within a whisker of its strong-side limit, as dealers said short covering added to strong corporate demand for yuan. The People's Bank of China set its midpoint at 6.3047 on Thursday, moderately stronger than Wednesday's fix.

  • TOKYO, Oct 25- Asian shares inched up Thursday as signs of recovery in China and the United States eased fears of deteriorating global growth, though generally weak corporate earnings continued to make investors wary. The MSCI index of Asia-Pacific shares outside Japan, which fell the past four days, was up 0.1 percent.

  • *$139 billion in dry powder in Asia, $130 bln new funds being raised-Preqin. HONG KONG, Oct 25- The public appearance of Henry Kravis at KKR's new Singapore office underscores the private equity industry's growing interest in Southeast Asia, at a time when regional funds are growing and deal volumes are falling.

  • World stocks rise on continued optimism over China Thursday, 25 Oct 2012 | 5:18 AM ET

    BANGKOK-- World stock markets mostly rose Thursday as investors kept their sights on a possible improvement in China's economy. Britain's FTSE rose 0.5 percent to 5,836.92. Wall Street appeared headed for a day of gains, with Dow Jones industrial futures rising 0.4 percent to 13,078 and S&P 500 futures adding 0.6 percent to 1,413.20.

  • *Hyundai shares up 3.2 pct in Seoul; down 13 pct this month. SEOUL, Oct 25- South Korea's Hyundai Motor Co reported July-September net profit of $1.97 billion, up 13 percent on last year and in line with market forecasts, with growth held back by labour strikes in South Korea even as overseas sales rose.

  • Hong Kong shares hover at 2012 highs, China slips Thursday, 25 Oct 2012 | 5:12 AM ET

    *CNOOC up 1.4 pct after positive Q3 earnings. *Citic Bank slides 3.2 pct after proposed $235 million stake sale.

  • Hyundai Motor Q3 profit up 13 pct, meets forecasts Thursday, 25 Oct 2012 | 5:05 AM ET

    SEOUL, Oct 25- South Korea's Hyundai Motor Co reported July-September net profit of 2.17 trillion won, an increase of 13 percent and in line with market forecasts, with growth held back by labour strikes in South Korea even as overseas sales rose.

  • *Low rates cut interest income by $400 billion since 2008. WASHINGTON, Oct 25- The Federal Reserve's strategy of holding interest rates near zero to spur the U.S. economy is creating a level of uncertainty for American savers that may be softening the policy's punch.

  • *$139 billion in dry powder in Asia, $130 bln new funds being raised-Preqin. HONG KONG, Oct 25- The public appearance of Henry Kravis at KKR's new Singapore office underscores the private equity industry's growing interest in Southeast Asia, at a time when regional funds are growing and deal volumes are falling.

  • *Yuan hits all time record high in morning trade. Oct 25- China's yuan touched its strongest ever level on Thursday and crept within a whisker of its strong-side limit, as dealers said short covering added to strong corporate demand for yuan. The People's Bank of China set its midpoint at 6.3047 on Thursday, moderately stronger than Wednesday's fix.

  • Passengers bump up Q3 profits for Norwegian Thursday, 25 Oct 2012 | 4:46 AM ET

    OSLO, Norway-- Norwegian Air Shuttle, one of Europe's fastest-growing airlines, has posted a 27 percent increase in third-quarter net profits on the back of a significant increase of passengers. Thursday's report showed the company made a net profit of 628 million kroner, up sharply from the 495 million kroner recorded in the same three months a year ago.

  • ECB: Lending still weak in slack eurozone economy Thursday, 25 Oct 2012 | 4:43 AM ET

    FRANKFURT, German-- Another drop in lending to companies in the 17- country eurozone showed the economic downturn is deepening, as a brighter mood on financial markets fails to catch on with businesses.

  • UK recession over as economy grows 1 pct in Q3 Thursday, 25 Oct 2012 | 4:43 AM ET

    LONDON-- Britain's economy emerged from its nine-month recession in the July to September quarter, when spending on the Olympics helped it grow by a bigger than expected 1 percent, according to official figures released Thursday.

  • Novartis defends flu drugs, posts flat Q3 profits Thursday, 25 Oct 2012 | 4:34 AM ET

    GENEVA-- Swiss pharmaceutical giant Novartis AG defended a range of flu drugs that have been banned in Italy, while posting virtually flat third quarter profits as new drugs offset patent expirations. On Wednesday, Italy's health ministry banned the sale of four Novartis flu drugs for possible side-effects.

  • WPP: Ads income from Olympics, US elex disappoints Thursday, 25 Oct 2012 | 4:29 AM ET

    LONDON-- WPP PLC, the world's largest advertising group, has lowered its full-year outlook after not doing as well as expected from the Olympics, the U.S. presidential campaign and the European soccer championships.