Morning briefing: ADB raises growth forecast for Asia
A woman walks past a branch of the Anglo Irish Bank in Belfast.
(Photo Credit: Cathal McNaughton/Reuters)
1. The Asian Development Bank raised its forecast for the region's economic growth this year -- to 8.2 percent as compared with a projection of 7.5 percent growth issued in April. The projection covers 44 developing and newly industrialized nations.
2. German consumer confidence jumped in October.
3. Fitch Ratings said it could downgrade Ireland because of the high costs of the troubled nationalized Anglo Irish Bank, Reuters reported.
4. China's yuan inched up against the U.S. dollar for the 11th consecutive session.