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Financial News

Asian Stocks, Currencies Rise on Optimism Dubai World Losses Won't Spread Asia stocks and currencies rose as the United Arab Emirates pledged support for its banks, easing concerns that losses from Dubai World will spread. Treasuries and the cost of protecting corporate debt fell.

First Chinese Consumer-Linked ETF Set to Debut in New York, Global X Says The first exchange-traded fund linked to Chinese consumer companies will begin trading in New York tomorrow as the world’s third-biggest economy boosts domestic demand, said Global X Management Company LLC.

Australian Central Bank May Raise Key Rate for Record Third Month to 3.75% Australia’s central bank will raise its benchmark interest rate by a quarter percentage point today for a record third straight month as evidence mounts that the nation’s economy is strengthening, economists say.

Hatoyama May Press Bank of Japan to Increase Money Supply After Yen Surge The yen’s surge to a 14-year high and renewed deflation may prompt Japanese Prime Minister Yukio Hatoyama to press the central bank to take further steps to support growth.

Thailand's Central Bank Said to Seek $1 Billion Selling Stake in Siam City Thailand’s central bank plans to approach potential buyers including Standard Chartered Plc and Australia & New Zealand Banking Group Ltd. this week for a stake in Siam City Bank Pcl and is seeking about $1 billion, said two people with knowledge of the matter.

Shirakawa Pledges Action Against Deflation as Output Slows, Wages Decline Bank of Japan Governor Masaaki Shirakawa said he agrees with the government that the nation is in deflation, pledging to take action if needed to ensure economic stability.

Wuhan Steel Plans to Pay $400 Million for Stake in Brazil's MMX Mineracao Wuhan Iron & Steel Group, China’s third-biggest steelmaker, agreed to pay $400 million for a stake in Brazil’s MMX Mineracao e Metalicos SA to broaden its supply of iron ore.

Lyxor Says It May Invest More in Japan Hedge Funds, Sees Stocks Rebounding Lyxor Asset Management, an investment arm of Societe Generale SA, said it may start investing more in Japanese hedge-fund managers next year as it expects a rebound after the recent sell-off in the country’s stock market.

New Zealand's Economy Will Recover as Spending, Trade Rise, Institute Says New Zealand’s economy is likely to grow in 2010, buoyed by consumer spending and global demand for exports, according to the New Zealand Institute of Economic Research Inc.

China Stocks to Rebound as Economy Strengthens, Mirae Asset, Citigroup Say Chinese stocks will rebound from their worst week in three months and keep rising next year as the strengthening economy lures more funds from overseas, Citigroup Inc. and Mirae Asset Global Investments Co. said.

General News

Obama's Afghanistan Speech Will Discuss Costs, Limits of U.S. Involvement President Barack Obama will tell the public tomorrow how the U.S. will pay for his new strategy to stabilize Afghanistan and that there are limits to American involvement there, said his spokesman, Robert Gibbs.

Pakistan Rejects U.K. Call to Do More to `Break' Al-Qaeda, Find Bin Laden Pakistan rejected U.K. demands that it must do more to “break” the al-Qaeda terrorist network and said Britain should share intelligence if it knows the whereabouts of Osama bin Laden.

Rudd's Climate-Change Bill May Fail, Leaving Him Empty Handed for Obama Australian Prime Minister Kevin Rudd’s climate-change legislation faces a test this week as the Senate resumes debate and a rift in the Liberal Party leadership threatens to push a vote into next year.


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