Oil climbed toward $97 a barrel yesterday as renewed violence in oil exporter Nigeria and expectations of further declines in US crude stocks revived worries of tightening supplies.
The dollar fell against the euro, extending last year's 10 percent decline, on concern evidence of a US manufacturing slowdown will give the Federal Reserve more reason to lower interest rates.
India's Reliance Power Ltd is set to launch an initial public offering to raise up to $2.97 billion in the country's biggest IPO, three investment banking sources close to the deal said yesterday.
The dollar may extend a two-year decline against the euro on speculation a slowing economy will make US assets less attractive to investors.
Islamic bond sales jumped 70 percent last year as borrowers led by Gulf Arab companies sidestepped the credit market slump triggered by record defaults on US home loans.
Citigroup Inc and Merrill Lynch & Co were the world's top underwriters of stocks and bonds in 2007, measured by volume and reported fees, despite being at the epicenter of the global credit crisis.
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