Emerging Markets 12/24/2006
Emerging Markets
Ecuador Bonds Tumble as Finance Minister Signals Possibility of Default Ecuador's bonds had their biggest- ever decline after the incoming finance minister said the government may restructure its $11 billion debt in a way similar to Argentina, which defaulted on $95 billion in 2001.
Baht Set for Biggest Weekly Loss Since 2002 on New Currency Restrictions The Thai baht this week slumped the most since July 2002 as investors withdrew funds because of central bank rules aimed at weakening the currency.
Lebanon Currency Reserves at Record, Currency Peg Safe, Central Bank Says Lebanon's foreign currency reserves have remained at a record high ensuring that the country can maintain its fixed-exchange rate policy even as Iranian-backed Hezbollah protesters try to topple the government.
South African Rand Heads for Fifth Weekly Gain on Interest Rate Outlook South Africa's rand posted its fifth week of gains amid speculation the yield premium of holding local assets will continue to widen as the central bank raises interest rates.
Magna and AvtoVAZ Agree to Build $1.7 Billion Car-Making Plant in Russia Magna International Inc., Canada's biggest maker of automobile parts, and Russia's OAO AvtoVAZ will build a $1.7 billion car factory in Russia to tap rising demand for budget vehicles in the former Soviet Union.
Iron-Ore Accord With Vale Should Set 2007 Benchmark, Baosteel's Liu Says China's top negotiator for iron-ore supplies Liu Yongshun says he expects to set the global benchmark for the commodity for the first time after reaching an agreement on 2007 prices with Brazil's Cia. Vale do Rio Doce.
Romanian Government Cancels Sale of CEC Bank, Says National Bid is Too Low Romania canceled the planned sale of a controlling stake in Casa de Economii si Consemnatiuni SA, the country's last state-owned bank, saying National Bank of
Ecuador Bonds Tumble as Finance Minister Signals Possibility of Default Ecuador's bonds had their biggest- ever decline after the incoming finance minister said the government may restructure its $11 billion debt in a way similar to Argentina, which defaulted on $95 billion in 2001.
Baht Set for Biggest Weekly Loss Since 2002 on New Currency Restrictions The Thai baht this week slumped the most since July 2002 as investors withdrew funds because of central bank rules aimed at weakening the currency.
Lebanon Currency Reserves at Record, Currency Peg Safe, Central Bank Says Lebanon's foreign currency reserves have remained at a record high ensuring that the country can maintain its fixed-exchange rate policy even as Iranian-backed Hezbollah protesters try to topple the government.
South African Rand Heads for Fifth Weekly Gain on Interest Rate Outlook South Africa's rand posted its fifth week of gains amid speculation the yield premium of holding local assets will continue to widen as the central bank raises interest rates.
Magna and AvtoVAZ Agree to Build $1.7 Billion Car-Making Plant in Russia Magna International Inc., Canada's biggest maker of automobile parts, and Russia's OAO AvtoVAZ will build a $1.7 billion car factory in Russia to tap rising demand for budget vehicles in the former Soviet Union.
Iron-Ore Accord With Vale Should Set 2007 Benchmark, Baosteel's Liu Says China's top negotiator for iron-ore supplies Liu Yongshun says he expects to set the global benchmark for the commodity for the first time after reaching an agreement on 2007 prices with Brazil's Cia. Vale do Rio Doce.
Romanian Government Cancels Sale of CEC Bank, Says National Bid is Too Low Romania canceled the planned sale of a controlling stake in Casa de Economii si Consemnatiuni SA, the country's last state-owned bank, saying National Bank of
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