Nomura Holdings has tapped Yutaka Nakajima as its new global markets chief for Europe, the Middle East and Africa, succeeding Gary Cottle. And Jonathan Raiff is taking on a similar role for the Americas, succeeding Charles Spero.
A sovereign wealth fund may be in store for the Philippines as economic managers consider how best to use the country's considerable foreign exchange holdings, officials say. "I'm open to anything that helps the country. ... We're watching keenly how other countries are using their sovereign wealth funds," said Finance Secretary Cesar V. Purisima.
India's consumer prices jumped 10.91% in February from a year before, keeping India in the inflation forefront among the BRIC nations. Last month's rate marked a pickup from the 10.79% rate reported for January.
At a time of testing for the new South Korean government's economic plan, analysts expect the Bank of Korea to leave interest rates unchanged at its policy meeting Thursday. However, an April rate cut is considered likely.
Growth of 15.2% in China's monetary supply last month from a year before has sparked fears of an oversupply, with the M2-to-GDP ratio reaching 190%. But Lu Zhengwei, Industrial Bank chief economist, said the ratio has traditionally been high and isn't necessarily a cause for inflation worries. Said E Yongjian, a Bank of Communications researcher, "The real danger for prices is the M2 growth rate."