Portugal: 2010 Budget deficit was revised to 9.1% of GDP from 8.6% after the government added three highways onto its accounts, the National Statistics Agency said in an emailed statement. The government in March reported an 8.6% deficit for 2010, missing its target of 7.3%. Accounting changes ordered by Eurostat, the European Unions statistics agency, forced the state to add more than EUR2b (USD2.9b) to the 2010 deficit for impairment costs stemming from the 2008 seizure of Banco Portugues de Negocios SA and also for charges linked to the public-transportation system. (Source: Bloomberg)
China: Yuan forwards traded at the biggest premium to the spot rate in more than five months, reflecting speculation the central bank will allow faster currency gains to help tame inflation. More rapid appreciation may be a tool for curbing prices, Wang Yong, a professor at the People's Bank of China's training center, wrote in a commentary published in Securities Times newspaper. The central bank set the yuan's reference rate 0.11% stronger at 6.5156 per USD, the highest level since a dollar peg was scrapped in July 2005. (Source: Bloomberg)
Taiwan: Unemployment rate declined to a 29-month low in March as economic expansion encouraged companies including Chang Hwa Commercial Bank to hire. The seasonally adjusted rate fell to 4.42% from 4.59% in February, data released by the statistics bureau in Taipei showed. That's the lowest level since October 2008. (Source: Bloomberg)
Vietnam: Inflation accelerated to the fastest pace since 2008, putting pressure on the government to tighten policy further after almost doubling a key interest rate in less than six months. Consumer prices climbed 17.51% in April from a year earlier, according to figures released by the General Statistics Office in Hanoi. The rate is the highest since December 2008 and compares with the 13.89% pace last month. Prices rose 3.32% in April from March. (Source: Bloomberg)
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