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Thursday, November 15, 2007

News You Can Use for Thursday

Jim Rogers Urges Investors to Sell U.S. Dollar Holdings as Currency Slumps Investor Jim Rogers urged people to get out of the dollar and says he expects to be rid of all his U.S. currency assets by summer next year.

China's Industrial Output Growth Sparks Concern Economy May Be Overheating China's industrial production grew 17.9 percent in October as automobile and electronics output accelerated, underscoring government concern that the world's fastest-growing major economy risks overheating.

Indonesia's Economy Expands 6.5 Percent, Fastest Pace Since 1997 Crisis Indonesia's economy expanded 6.5 percent in the third quarter, the fastest pace since the 1997 Asian financial crisis, spurred by bumper harvests and rising sales of cars, motorcycles and homes.

World Bank Raises East Asia's Economic-Growth Forecast as China Expands East Asia's economies will expand at the fastest pace in more than a decade in 2007 as China's accelerating growth offsets a slowdown in U.S. demand for the region's exports, the World Bank said.

Rupee Gains a Second Day as India's Growth May Keep Luring Overseas Funds India's rupee rose for a second day on speculation economic growth that is the fastest among major economies after China will keep drawing overseas investment.

U.A.E. Considering Ending Dollar Peg for Currency Basket, Suwaidi Says The United Arab Emirates may consider pegging its dirham to a basket of currencies, consisting mostly of dollars, said central bank Governor Sultan Bin Nasser al- Suwaidi.

Murdoch Intends to Drop Fee "Rupert Murdoch, the chairman of the News Corporation, said today that he intended to make access to The Wall Street Journal’s Web site free, trading subscription fees for anticipated ad revenue.

Hunan Nonferrous Metals Corp, China`s biggest zinc and tungsten producer, may spend as much as US$673 million next year buying stakes in mining companies and mines in Australia and Canada

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