Euro zone faces deepest downturn since early 2009, show PMIs

LONDON: The euro zone economy is on course for its weakest quarter since the dark days of early 2009, according to business surveys that showed companies toiling against shrinking order books in November.

Russian Funds Flee as Anti-Putin Demonstrators Dig In

Investors are fleeing Russia as demonstrators against President Vladimir Putin dig in, exacerbating the impact of Europe’s debt crisis on the country’s markets, money managers from Frankfurt to Moscow said.

Sovereign wealth funds to keep MENA M&A ticking, says HSBC chief

Increased appetite from sovereign funds and restructuring-driven asset sales will help drive a modest recovery in mergers and acquisitions (M&A) in the Middle East and North Africa (MENA), the head of HSBC’s regional advisory business said.

While global markets are teetering under the impact of a sovereign debt crisis in the euro zone and a slowdown in the U.S. economy, a sharp fall in asset values may present an opportunity for these cash-rich funds with a mandate to invest their state’s hydrocarbon revenues, Omar Mehanna told Reuters.

Euro Weakens Amid Sovereign Debt Concerns; Kiwi Climbs to Record

The euro fell against the dollar amid concern European governments will struggle to resolve the sovereign debt crisis, damping demand for the region's assets.

The single currency weakened versus 14 of its 16 major counterparts after Greek Prime Minister George Papandreou said he'll press ahead with new austerity measures even as he failed to win backing from opposition parties. New Zealand's dollar climbed to the strongest since exchange-rate controls ended in 1985 after a report showed the nation's trade surplus widened by almost twice economists' estimates to a record in April.