Front Page: SA

8th November 2011

BRICS

 

Toyota Q2 falls 32%, withdraws forecast

Toyota Motor Corp posted a 32 percent drop in quarterly operating profit and withdrew its full-year profit forecasts as Thai floods pose a fresh threat to production while supply shortages from the March earthquake kept output low. Times of India

 

Steel demand to melt down after strong recovery

A strong recovery in consumption and manufacturing has helped the Russian steel sector to grow but the long term growth will depend on global market conditions. Russia Today

 

SA ‘must shift focus to growing entrepreneurs'

The Development Bank of South Africa says focus on employment equity and wealth distribution has to shift to entrepreneurship and value creation if the economy is to grow. Business Day

 

Savings: raising R $ 10.5 billion so far

RIO – Deposits in savings of R $ 105.313 billion, exceeded the withdrawals of R $ 104.239 billion in October, according to the Central Bank, on Monday, Brazil announced by the Agency. O Globo

 

China to boost domestic supply of iron ore

China plans to supply 45 percent of its iron ore use by 2015, a big increase from last year's 32 percent, as the country steps up efforts to protect its steel industry from a foreign monopoly over iron ore. China Daily

 

Developed Markets

 

Japan bought 10% of eurozone fund's latest bonds

Japan bought 10% of 3 billion euros ($4.13 billion) in bonds issued on Monday by the eurozone's rescue fund, a government official said on Tuesday, less than its previous investments. Japan Today

 

EU crisis could hit home, says CBA

Australia is not "immune" from the European sovereign debt crisis, Commonwealth Bank Chairman David Turner said today. The Australian

 

Alcoa to spend US$2.1B on Quebec modernization

Aluminum producer Alcoa Inc. confirmed it will spend US$2.1-billion over five years to modernize its three Quebec smelters after clinching a power contract from the provincial government. Canada

 

Frontier Markets

 

Vietnam bonds fall as banks' demand cools; dong little changed

Vietnam's bond declined on signs bank demand for the securities is weakening. The dong was stable. Thanh Nien

 

The Bank of Mauritius would borrow Rs 1 billion long-term

The Bank of Mauritius is about to raise a loan of Rs 1 billion in the domestic debt. Subscription to this instrument will bond on November 16. L'Express

 

YPF confirms huge shale oil find in Neuquén

Energy company YPF confirmed the finding of its biggest oil discovery in Argentina yet to the Buenos Aires stock exchange. The discovery was made in the Neuquén province and is equivalent to 927 million barrels. Buenos Aires Herald

 

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