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Basel II timeline extended to '08
U.S. regulators added another year to the deadline to meet capital requirements set down by the global accord designed to regulate banking reserves. Opponents continue to argue the int'l agreement puts smaller U.S. banks at a disadvantage.
Indonesia bracing for fuel hikes
Street protests resulted from Friday's decision by President Susilo Bambang Yudhoyono to double the cost of subsidized fuel. Diesel fuel rose 105%, while household kerosene nearly trebled. The hikes are an attempt to ease downward pressure on the badly battered rupiah that's fallen drastically as the government faces paying higher prices for imported oil.
India's growth quickens to 8.1%
In its Q1, surging manufacturing pushed growth to its best gain in five quarters. Wages are rising in the face of interest rates near three-decade lows, spurring middle-class demand for cars, homes and other large consumer goods. India is the world's second-fastest growing economy after China.
Canada gains in oil, mining boom