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Shares, dollar rise on positive data

Tokyo: Asian shares advanced to their highest in nearly two weeks with risk appetite returning on signs that a trend of global recovery is stabilising, particularly in the United States and China.

Positive US private sector employment and consumer confidence reports drove the dollar higher, while the yen retreated as demand for


Nasdaq woos traders to back new European futures market

London: Nasdaq OMX is offering incentives to European trading firms in a bid to win support for its nascent futures exchange and ensure a strong start for a market aiming to boost competition in European futures trading.

The New York-based exchange is talking with banks and other trading houses, encouraging them to use NLX, a London-based futures


To free market, with the yuan

Something unique is happening in China. Market forces are being allowed to prevail in the functioning of the yuan and there is a distinct likelihood that the Chinese currency may become more free and flexible in the near future.

The exchange rate of the yuan, or renminbi as it is known, hit a record high on October 26, going up to 6.24 yuan against


US money markets back to normal

New York: US money markets showed signs of returning to normal after a devastating storm disrupted major markets earlier this week and caused Wall Street firms, US banks and companies to scramble for cash.

Money markets are a vital cash source for financial markets, where Wall Street finances trading positions and loans and Corporate America raise


Japan automakers China slump accelerates on islands row

Beijing/ Shanghai: Honda Motor Co Ltd’s China car sales plunged 54 per cent in October from a year earlier, with the pace of decline accelerating from the previous month as Japanese automakers suffer the backlash from a territorial dispute between Beijing and Tokyo.

Smaller rival Nissan Motor Co. Ltd also reported a steepening slump in its China


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Abatera Tours is an expert destination management company that covers all aspects of inbound tourism business including FIT Travel, Leisure groups and Meetings, Incentives, Conferences & Events (MICE)...

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