News Headline Summary

News of note from this weekend...

Asia:

- Head of the Asian Development Bank, Haruhiko Kuroda, is leading the race to become the new BoJ governor with sources saying PM Abe is preparing to nominate Kuroda for the role. (Kyodo) As a reminder, the government is set to decide its nominee this week; however whoever is nominated by PM Abe is not guaranteed the job as the appointment must be approved by both houses of parliament.

- Japan PM Deputy Cabinet Secretary Kato says Abe did not discuss currency valuations with Obama. (Newswires)

- China is to raise diesel prices by 3.4% and gasoline prices by 3.2%, effective Monday according to the National Development and Reform Commission. (Newswires)

Europe:
- German finance minister Schaeuble said he has full confidence in France. In other comments Schaeuble added, it is not clear if Cyprus is systemically relevant and won’t be pressured on Cyprus aid. (Newswires)

UK:
- Osborne on rack as GBP set to tumble (Sunday Times – Front page) Tory backbenchers are questioning if Osborne is the right person to run the economy, as Osborne comments that there will be no ‘plan B’ to kick start the economy. Experts warn GBP could reach parity with EUR for first time since the crash of 2008-2009. David Smith adds that this downgrade matters as it means no spending rise or tax cuts.

Geopolitical:
- Iran has found significant new uranium deposits and its planning to expand its nuclear power programme. (Sunday Times)

24 Feb 2013 - 16:08 - - Source: Newswires/Kyodo/Sunday Times

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