Asian markets were mixed on Friday, as Japanese shares edged lower following a soft reading on inflation, while Chinese stocks were a touch higher as the market moderated at the end of a wild week of trading in Shanghai.
RIYADH (Reuters) - Saudi Arabia's finance minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil wealth, rebuffing suggestions by prominent officials and businessmen.
What came as a surprise wasn't that banks now have an enlarged regulatory deposit base to loan against, but that the banks won't have to hold a portion of those additional deposits with the central bank.
SEOUL�South Korea, the U.S. and Japan will sign a trilateral intelligence-sharing pact next week to better cope with North Korea's increasing nuclear and missile threats, officials in Seoul said Friday.
Russia said on Thursday its currency crisis was over even though its forex reserves have plunged and annual inflation has climbed above 10 percent, adding to the problems facing the government as it fights its worst economic crisis since 1998.