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S.Africa rand recovers, euro zone worries a threat
22 May 2012 at 1:02am
JOHANNESBURG (Reuters) - South Africa's rand was steady against the dollar in early Tuesday trade but remained vulnerable to uncertainty over the economic fate of some euro zone countries, which has tended to dampen risk appetite in recent months. The rand traded at 8.2305 by 0643 GMT, little moved from Monday's closing level of 8.2350. The rand has recovered about 2.6 percent of its value against the greenback since hitting a five-month low of 8.4475 last Friday, and could come under renewed pressure if a long- term solution to liquidity problems in some European countries remains elusive. ...
New Zealand to ban foreign-flagged fishing boats
21 May 2012 at 11:45pm
WELLINGTON (Reuters) - New Zealand is to ban the use of foreign-flagged fishing boats in its waters to improve working conditions for crews and monitoring of catches, the government said on Tuesday. New Zealand has the fifth-largest exclusive economic zone in the world, extending from 12 to 200 nautical miles offshore, and the fishing industry relies heavily on foreign vessels. The zone produced NZ$1.5 billion ($1.1 billion) in exports last year. ...
Asia stocks up amid hopes China to boost growth
21 May 2012 at 11:25pm
Hopes China will announce new measures to boost economic growth helped push Asian stock markets higher Tuesday.
Oil hangs below $93 as stock rebound buoys crude
21 May 2012 at 11:12pm
Oil prices hung below $93 a barrel Tuesday in Asia, holding gains from the previous day as crude followed global stock markets higher.

Casinos bet on Macau growth but China a wildcard
21 May 2012 at 10:23pm

MACAU (Reuters) - Gaming executives and industry players gathering for a convention in Macau on Tuesday may have to finally confront what they have been predicting for the past two years -- a sharp slowing of growth in the world's hottest gambling market. As China's economic expansion slows and high rollers from the mainland become more cautious, growth in Macau's gambling revenue could ease to around 11 percent year-on-year in May, analysts say. That is a healthy number, but a far cry from the up to 70 percent monthly growth rates seen in 2010 and even the 22 percent growth in April. ...

SHANGHAI (Reuters) - China will fast track approvals for infrastructure investment to combat a slowdown in the economy, a state-backed newspaper reported on Tuesday, underlining a call by Premier Wen Jiabao for policies to maintain growth. Dismal economic data for April last week suggested the world's second-biggest economy was heading for a sixth straight quarter of slowing growth, which raised alarm bells in financial markets already worried about a slump in the euro zone. ...

Youth joblessness is almost back at its peak following the outbreak of the global economic crisis and is unlikely to ease until at least 2016, the International Labour Organization warned Tuesday.

Lowe's Cos.' first-quarter profit climbed 14 percent as warmer weather helped boost sales earlier in the quarter. But the world's second-biggest home-improvement company lowered its full-year earnings forecast on Monday, saying it's still cautious because of the weak housing market and other economic conditions.