ECONOMY & MARKETS

China's economy recorded a 10.3 percent growth in 2010, coming back strongly from the global crisis, data released by the National Bureau of Statistics on Thursday showed.

The companies which are expected to see active trade on Thursday are Google, Morgan Stanley, eBay, Seagate Technology, Advanced Micro Devices, UnitedHealth Group, Southwest Airlines and Rockwell Collins.

Amazon.com said it agreed to acquire the remaining shares in DVD rental firm Lovefilm International Limited. Terms of the deal were not disclosed.

Futures on major U.S. indices point to a lower opening on Thursday ahead of economic data, including weekly jobless claims and existing home sales.

The top after-market NASDAQ stock market gainers are: Orthovita, Allos Therapeutics, ICAgen, Biodel, and eBay. The top after-market NASDAQ stock market losers are: MannKind, F5 Networks, Westell Technologies, Internap Network Services, and Riverbed Technology.

The top after-market NYSE gainers on Wednesday are: Dillard's, Geo Group, Tetra Technologies, Lee Enterprises, Moneygram International, Equal Energy, Horizon Lines, Main Street Capital, Strategic Hotels & Resorts and American Oriental Bioengineering.

Private-sector lender Yes Bank posted a 51.6 percent rise in quarterly net profit in Oct-Dec, as both advances and deposits rose.

Japanese Economics Minister said on Thursday China probably has sailed past Japan to emerge as the second biggest economy in the world after the United States, according to a Reuters report.

SKS Microfinance shares rose 13 percent on Thursday, a day after a panel appointed by the Reserve Bank submitted guidelines for the microfinance sector, providing clarity for the country's embattled industry.

Food inflation eased for the second straight week in January, tracking lower fruit and vegetable prices, but accelerating headline inflation in December is likely to put pressure on the Reserve Bank to raise rates at policy review on Jan. 25

China's PICC Group, the country's top non-life insurer, plans to list within five years and double the group's revenue in that period with total assets exceeding 1.5 trillion yuan, a newspaper reported on Thursday.

China will auction eight shale gas exploration blocks in the first quarter of this year, an expanded plan for China's first such auction, which was originally expected in November, a ministry official said on Thursday.

General Electric Co chief executive Jeffrey Immelt said on Wednesday he wants the United States and China to open their borders for truly free trade between the world's top two economies, rather than hiding behind protectionist walls.

Stocks sold off as disappointing results from Goldman Sachs (NYSE: GS) dragged down the financial services sector, as the indices endured their worst one-day price drop since November.

“Whether you’re very bullish or bearish, you should own some oil or energy equities,” said Marc Faber, publisher of the Gloom, Boom, and Doom report.

The equity markets of mature economies will outperform those of the emerging markets this year, said Marc Faber, publisher of the Gloom, Boom, and Doom report.

Barclays Bank of Kenya, majority-owned by British lender Barclays, is cutting 200 management-level staff, or about 5 percent of its workforce, to cut costs by an unspecified amount.

South Africa's retail sales growth expanded more than expected in November as consumer demand improved, further reducing lingering hopes that the central bank might cut its key repo rate on Thursday.

Cash-rich EFG-Hermes, Egypt's biggest investment bank, said it was seeking more acquisitions after buying a 65 percent stake in Lebanon's Credit Libanais late last year.

South Africa's rand fell more than 1.2 percent to a six week low against the dollar on Wednesday and government bonds touched a six month low ahead of a central bank's policy decision next day, expected to see rates unchanged.

Morocco's cereal-planted areas were 62 percent above their level a year earlier in mid-December, while the amount of rainfall surged by almost as much, the central bank said.

Gold rallied for a third consecutive session on Wednesday, boosted by broad weakness in the dollar and robust Asian consumer demand, while anticipation of more resilient global growth took platinum to 30-month highs.

The Federal Open Market Committee (FOMC) of the Federal Reserve, which meets next week, is unlikely to curtail its plan to buy $600 billion of Treasury securities by June despite the stronger tone of the incoming economic data, research firm Capital Economics said in a note on Wednesday.

US stocks traded mixed in early trade on Wednesday, following mixed earnings from financial heavyweights Goldman Sachs and Wells Fargo and a government report showed that U.S. housing starts fell more than expected in December.

Construction of new homes in the U.S. fell during December but building permits rose surprisingly, indicating the continued weakness in the housing industry, the Commerce Department said on Wednesday.

Russia's gross domestic product (GDP) is projected to expand 5.4 percent in 2011 and 5.7 percent in the following year, Nordea Bank said on Wednesday.

Futures on major U.S. indices point to a lower opening on Wednesday after Goldman Sachs reported a decline in quarterly profit and a government report showed that U.S. housing starts fell more than expected in December.

The Singapore Exchange (SGX), Singapore’s stock market, said it will do away with its lunch break and launch continuous all-day trading from March.

The companies that reported earnings before the markets open on Wednesday are: Goldman Sachs, Wells Fargo, U.S. Bancorp, State Street, Northern Trust, Bank of New York Mellon and Hudson City Bancorp.