US Trade Representative Sue Schwab has announced that the United States is filing a complaint with the WTO against China's alleged subsidies to national firms. Japan is also considering supporting the action.
India’s growth is expected to be 9.2% in this financial year, up from the central bank’s own projection in March of 8.5-9%. The central bank will auction 90 billion rupees of bonds -- 60 billion of a 7-year bond and 30 billion of a 29-year bond - on Feb. 9, with analysts expecting full subscription.
Bank Indonesia cut interest rates to 9.25%. Indonesia’s annual inflation has moderated from 17.11% at the end of 2005 to 6.6% at the end of 2006 and to 6.26% in January.
The Philippine government offered to swap nearly a trillion pesos worth of local currency denominated debt with new benchmark bonds with three- and seven-year maturities, consolidating its debt management portfolio.
The World Bank announced a new partnership strategy with Vietnam, providing US$4 billion in long-term interest free loans supporting the country till 2011.
- Information provided by Euromoney group sources.