Modi's 'Make in India' to Manufacture Growth -- Barron's Asia

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Radhika Rao The government is keen to expand manufacturing and raise its contribution to GDP. Here we discuss three questions: What does this entail? How will government succeed? Why the need? What does manufacturing entail? The service sector's share ...

Brazil Central Bank Raises Selic Rate to 11.25% From 11%

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Paulo Trevisani BRASÍLIA--Citing a less favorable outlook for inflation, Brazil's central bank on Wednesday raised its benchmark interest rate, in a move that wasn't expected by markets. The central bank increased the Selic short-term lending rate to 11.25% from ...

China 3Q International Payments Largely in Balance

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

BEIJING--China's international payments were largely balanced in the third quarter with a surplus in the current account offsetting a deficit in the capital account, official data showed on Thursday. China's current-account surplus in the three months ended September rose to ...

Russian Ruble Continues Decline to Record Lows Against Dollar, Euro

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

MOSCOW--The Russian ruble continued dropping to fresh record lows against the dollar and the euro Thursday, raising expectations that the central bank would need to take extra measures to contain the depreciation. The ruble eased nearly 0.4% in the first ...

U.S. Jobless Claims Rise By 3,000

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

WASHINGTON--The number of new claims for jobless benefits rose last week but remained at historically low levels, supporting other signals of an improving labor market. Initial claims for unemployment benefits, a proxy for layoffs, increased by 3,000 to a seasonally ...

Italy Sees Market Solutions for Banks' Capital Shortfall

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Liam Moloney and Giovanni Legorano ROME--Italy's Economy Minister Pier Carlo Padoan said Thursday he expects local lenders to find market solutions for their need to lift capital after a European Central Bank health check found two of them with ...

Crude Price Falls on Stronger Dollar, Still-High Supply

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Cassie Werber Crude oil prices fell Thursday as a stronger U.S. currency and still-high supply took the bounce of the last two days out of the market. "It is a firmer U.S. dollar in particular that is putting pressure ...

China Resources Power: Jan-Sep Net Profit CNY5.31 Billion, Down 2.6%

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Chester Yung State-owned conglomerate China Resources Power Holdings Co. (0836.HK) reported a 2.6% drop in net profit for the January-September period, dragged by the weaker revenue. China Resources Power said Thursday its net profit for the nine months ended ...

Vodafone Says Hungary Should Revoke Plan To Tax Internet Use

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Margit Feher BUDAPEST--Hungary should revoke its plan to tax Internet traffic from Jan. 1 as the proposed levy would reduce the country's competitiveness, head of the U.K. mobile company Vodafone Group PLC's (VOD) Hungarian arm said on Thursday. "A ...

Statoil to Invest $1.5 Billion in Gulf of Mexico Development

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Dominic Chopping Norwegian oil major Statoil ASA (STO) said Thursday that together with co-owners of the Stampede development in the Gulf of Mexico they have sanctioned the project. Statoil will invest $1.5 billion in the development, which is expected ...

Consumer Sentiment Seen Holding at 86.4 -- Data Week Ahead

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

The following are forecasts for this week's remaining data from a survey compiled Friday and Monday. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS (ET) Friday 0830 Personal Income Sep +0.3% (30) +0.3% 0830 Consumer Spending Sep +0.1% (30) +0.5% 0830 Core ...

Fiji Attracts Old Friends as China's Clout Grows

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Lucy Craymer SUVA, Fiji--Western nations are moving to rebuild relations with Fiji as another regional power has claimed a bigger role in the picturesque island nation: China. The U.S. told The Wall Street Journal Thursday that it was lifting ...

Brazilian Markets Rally After Surprise Rate Increase -- Update

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Paulo Trevisani BRASÍLIA--Brazilian markets rallied on Thursday after a surprising interest-rate increase showed the central bank's resolve to tame inflation, but the move stoked fears among some business people that economic growth won't resume soon. The Brazilian real was ...

Argentina Central Bank Borrows $814 Million Under China Currency Swap

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Ken Parks BUENOS AIRES--Argentina's central bank tapped a currency swap line with its Chinese counterpart for the first time Thursday, requesting the equivalent of about $814 million at a time when its hard currency reserves are under pressure. Argentina ...

Canada Unveils Family-Focused Tax Breaks

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Paul Vieira OTTAWA--Canada's Conservative government unveiled a series of family-focused tax breaks Thursday, signaling its plans to follow through on a pledge to share some of next year's expected federal budget surplus. Canada will offer tax-relief measures totaling 26.76 ...

Canada's Top Banker Warns Low Oil Prices to Hit Growth

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

Canada's top central banker said lower oil prices may shave about a quarter point from the country's economic growth in 2015, a magnitude that is enough to make him concerned. Canada is a net exporter of oil, and the price ...

Dollar Rises on Upbeat Fed

TODAY: Oct. 31, 2014 PUB DATE: Oct. 30, 2014

By Josie Cox The U.S. dollar rose in early European trade Thursday, after the Federal Reserve met expectations by calling an end to quantitative easing, but caught the market off guard as it adopted a more optimistic tone on the ...