* Zimbabwe election: Mugabe heads for landslide victory
* Brazil backs IMF aid for Greece and recalls representative
* Indonesia: slowing, stuck or just fine?
* Libyan oil exports tumble on port closures
* Most Emerging Stocks Rise as Philippine, Thai Equities Slump
* Asian mobile chat apps challenge western dominance
* Thai tourists: luxury’s new big spenders
* Dubai Group offloads Bank Islam stake
* Indian commodity exchange investigated
* Chinese officials visit Sanofi offices amid wider probes
Markets: mainly up
Zimbabwe election: Mugabe heads for landslide victory
African Union observers on Friday said they were reserving judgment on allegations of electoral fraud in Zimbabwe, as early poll results put President Robert Mugabe on course for a sweeping victory.
Brazil backs IMF aid for Greece and recalls representative
Brazil reversed its hardline stance on Greece’s bailout on Thursday, saying it had not authorised its representative to the International Monetary Fund to withhold support for the latest aid to Athens.
Indonesia: slowing, stuck or just fine?
Indonesian growth has slowed, according to the GDP data out on Friday. Growth for the second quarter of 2013 was 5.8 per cent, the first sub-6 reading since Q3 2010.
Libyan oil exports tumble on port closures
Libyan oil exports have declined after protests and strikes shut down several of the country’s export terminals, though it was unclear exactly how many of the country’s terminals had been affected.
Most Emerging Stocks Rise as Philippine, Thai Equities Slump
Most emerging-market stocks advanced as weaker Asian currencies and signs of an improving global economy boosted exporters, overshadowing declines in the Philippines and Thailand.
Asian mobile chat apps challenge western dominance
Nguyen Tung Lam, a 16-year-old high school student in Hanoi, uses Japanese mobile messaging service Line to chat with his girlfriend because she “likes the cute icons such as the teddy bear and bunny”. Doan Nguyen Trang, another Vietnamese teenager, prefers South Korea’s KakaoTalk app because it is promoted by a wildly popular Korean boy band.
Thai tourists: luxury’s new big spenders
When guessing the nationalities of which wealthy shoppers currently fuel the ongoing boom in global luxury sales, there can be little question as to which countries are leaders of the pack. But beyond the predictable spending power of Chinese, Russian and Japanese travellers – it seems that some rather unexpected contenders are snapping at their heels.
Dubai Group offloads Bank Islam stake
Dubai Group’s financial unit has sold its stake in Bank Islam of Malaysia to BIMB Holdings for $550m as the troubled investment arm owned by the emirate’s ruler picks up the pace of asset sales. Dubai Financial Group acquired a 40 per cent stake in Southeast Asia’s largest standalone sharia-compliant lender by assets in 2006 for $224m, but its shareholding was reduced to 30.5 per cent in 2009 when it did not participate in a capital increase.
Indian commodity exchange investigated
Shares in Financial Technologies, an Indian bourse operator, dropped by more than 60 per cent after its National Spot Exchange Limited commodity exchange suspended trading on most contracts following a government investigation.
Chinese officials visit Sanofi offices amid wider probes
Chinese officials this week visited a regional office of Sanofi, the French pharmaceutical company, in the latest expansion of probes against western drugmakers.
MSCI Emerging Market Index down -0.18% at 952.41
FTSE up -0.22% at 6,667
RTS down -0.57% at 1,324
Warsaw Wig up +1.66% at 48,157
FTSE 300 Eurotop up +0.31% at 1,225
DJIA up +0.83% at 15,628
S&P 500 up +1.25% at 1,707
Bovespa up +1.88% at 49,141
Nikkei 225 up +3.29% at 14,466
Topix up +2.82% at 1,196
Hang Seng up +0.46% at 22,191
Shanghai Composite up +0.02% at 2,029
MSCI Asia ex-Japan up +0.05% at 441.11
CNX Nifty down -0.87% at 5,678
€/$ 1.32 (1.32)
$/¥ 99.84 (99.53)
Brent Crude (ICE) down -0.24 at 109.30
Light Crude (Nymex) down -0.18 at 107.71
100 Oz Gold (Comex) down -22.20 at 1,289