beyondbrics

* Banks borrow €530bn from ECB scheme

* Indian economic growth slips to 6.1%

* StanChart: east Asia drives record gains

* Hong Kong’s Tsang faces corruption probe

* Ireland calls vote on European fiscal pact

* US faces first test of Iran sanctions resolve

* Bank of Georgia takes premium LSE listing

* US ditches contract to buy Brazilian attack aircraft

* Apple says allowing Proview to use iPad brand would harm consumers

* Markets: up

Banks borrow €530bn from ECB scheme
The European Central Bank on Wednesday injected €529.5bn into the eurozone financial system as 800 European banks took advantage of the ECB’s cheap three-year loan programme, the FT reports.

http://www.ft.com/cms/s/0/52ed18e4-6237-11e1-872e-00144feabdc0.html

Indian economic growth slips to 6.1%
India’s weakening economy grew 6.1 per cent in the quarter to the end of December, the slowest in three years, deepening fears about the country’s growth prospects, the FT reports.

http://www.ft.com/intl/cms/s/0/2864b6ea-629b-11e1-9245-00144feabdc0.html

StanChart: east Asia drives record gains
Standard Chartered Bank revealed on Wednesday a 10 per cent rise in income to $17.6bn in its 2011 results, beyondbrics reports. The bank  is coming through the most unstable decade in banking since the 1930s with a remarkable record for stability. That’s because it’s main businesses are in the growth markets of Asia, the Middle East and Africa – and not in the financial morass that is Europe, in contrast to most of its British peers.

http://blogs.ft.com/beyond-brics/2012/02/29/stanchart-east-asia-drives-record-profits/

Hong Kong’s Tsang faces corruption probe
Hong Kong’s anti-corruption watchdog has launched an investigation into Donald Tsang, the territory’s chief executive, following allegations that he received inappropriate favours from local business tycoons such as overseas trips on private jets, staying on luxury yachts and leasing an apartment for below market price, the FT reports.

http://www.ft.com/cms/s/0/f5055f20-628b-11e1-872e-00144feabdc0.html

Ireland calls vote on European fiscal pact
Dublin will hold a referendum on the eurozone fiscal pact, plunging Europe into months of uncertainty and potentially placing a question mark over Ireland’s membership of the euro, the FT reports.

http://www.ft.com/intl/cms/s/0/80dc4c64-6220-11e1-807f-00144feabdc0.html

US faces first test of Iran sanctions resolve
The Obama administration will face its first test of resolve over new sanctions on Iran from Wednesday when it has to decide whether to place penalties on banks involved in Iranian imports that do not include oil, the FT reports.

http://www.ft.com/intl/cms/s/0/42da6856-6261-11e1-820b-00144feabdc0.html

Bank of Georgia takes premium LSE listing
Bank of Georgia on Tuesday became only the second foreign bank to take a premium listing on the London Stock Exchange, marketing itself as a means for investors to gain exposure to the eastern European country’s strong economic growth, the FT reports.

http://www.ft.com/intl/cms/s/0/c1df34a8-621e-11e1-807f-00144feabdc0.html?ftcamp=rss#axzz1nYXozFkd

US ditches contract to buy Brazilian attack aircraft
The US Air Force has abruptly cancelled an order for counterinsurgency aircraft from Brazil in a setback for military relations between the western hemisphere’s two most important powers, the FT reports.

http://www.ft.com/intl/cms/s/0/ebd927c4-625e-11e1-872e-00144feabdc0.html

Apple says allowing Proview to use iPad brand would harm consumers
Apple, battling for ownership of the iPad trademark for its tablet computer in China, said allowing Proview to make products with that brand would hurt consumers,Bloomberg reports.

http://www.bloomberg.com/news/2012-02-29/apple-says-allowing-china-s-proview-to-use-ipad-brand-would-harm-consumers.html

Emerging Markets
MSCI Emerging Market Index up +1.20% at 1,082

Europe
FTSE up -0.12% at 5,921
RTS up +1.27% at 1,730
Warsaw Wig up +0.37% at 41,758
FTSE 300 Eurotop up +0.27% at 1,079

Americas
DJIA up +0.18% at 13,005
S&P 500 up +0.34% at 1,372
Bovespa up +1.10% at 65,959

Asia
Nikkei 225 up +0.01% at 9,723
Topix down -0.30% at 835.96
Hang Seng up +0.52% at 21,680
Shanghai Composite down -0.95% at 2,428
MSCI Asia ex-Japan up +1.44% at 537.71
S&P CNX Nifty Index up +0.18% at 5,385

Currencies
€/$ 1.34 (1.35)
$/¥ 80.46 (80.45)

Commodities
Brent Crude (ICE) up +0.88 at 122.43
Light Crude (Nymex) up +0.25 at 106.80
100 Oz Gold (Comex) down -3.30 at 1,784