RPT-MEDIA LINK-Uber's CEO plays with fire -New York Times
* Chinese manufacturing growth accelerates * Brazil cenbank says may provide dlr liquidity at year-end * Brazil real drops 0.16 pct, Mexico peso gains 0.3 pct By Walter Brandimarte RIO DE JANEIRO, Nov 22 Latin American currencies gained on Thursday after encouraging Chinese manufacturing data improved the outlook for the region's commodities exports, although the Brazilian real fell to a 3-1/2-year low. The real initially rose after Brazil's central bank warned it could supply dollars to the market at the end of the year, but later erased all of its gains, under the impact of some dollar outflows in a very thin market. Trading volumes were low across all Latin American countries as U.S. markets were closed for the Thanksgiving holiday. "The Chinese data helped all markets. The euro is rising and stocks are positive," said a trader in Mexico City, referring to data that showed the expansion of China's manufacturing sector accelerated in November for the first time in 13 months. The numbers raised hopes that China will remain a steady consumer of Latin American commodities, supporting the outlook for the region's exports and adding to investor appetite for risk in general. The Mexican peso climbed 0.3 percent to 13.0140 per dollar, while the Chilean peso rose 0.23 percent to 476.70 per greenback. The Brazilian real dropped 0.16 percent to 2.0977 per dollar, its weakest level in 3-1/2 years. TESTING THE CENTRAL BANK Brazil's currency looks set to test the level of 2.1 per dollar - which has been considered the upper limit of an informal trading band imposed by policymakers - despite a warning by central bank president Alexandre Tombini on Thursday. In a congressional hearing in Brasilia, Tombini vowed to protect the real from speculative bouts and said the central bank may provide "temporary liquidity" to the forex market at the end of the year, when dollars traditionally become more scarce in the country. His remarks suggested the central bank is unlikely to allow the currency to move too much, too fast in any direction, just one day after Finance Minister Guido Mantega said the government tries to intervene as little as possible in the market. Earlier in the week, President Dilma Rousseff also made comments about the currency rate, suggesting the real remained overvalued. The series of comments by top Brazilian officials about the currency left investors divided about the future of the de-facto trading range of 2.0-2.1 reais per dollar in which the currency has been stuck since early July. While some analysts believe the government will favor a slightly lower real to boost domestic economic activity, others worry about the inflationary pressures stemming from a weaker currency. Latin American currencies at 1950 GMT Currencies daily % YTD % change change Latest Brazil real 2.0977 -0.16 -11.00 Mexico peso 13.0180 0.30 7.31 Argentina peso* 6.3900 -0.16 -25.98 Chile peso 476.7000 0.23 8.94 Colombia peso market N/A N/A closed Peru sol 2.5870 0.23 4.25 * Argentine peso's rate between brokerages
RIYADH, April 23 Saudi Arabia reinstated financial allowances for civil servants and military personnel on Saturday after better-than-expected budget figures, ending unpopular cuts to a key perk triggered by low oil prices and cheering the stock market.