| * China's new president in corruption battle * Hungary PM defends constitutional changes * Mexican peso hits 19 month high * IMF official to kick-start Egypt talks * Chávez unlikely to be embalmed after all * Israel says Iran setting up army in Syria * Asian markets rise on US optimism * International banks keen on new offshore RMB investment programme Markets: up China's new president in corruption battle
The sales director for a supplier to Beijing Foton Daimler Automotive is close to despair. She has been selling parts for 20 years but now, she said, more people than ever needed to be bribed to guarantee orders.
http://on.ft.com/Ye34VM Hungary PM defends constitutional changes
Hungary's prime minister, under fire for amending his constitution in ways Brussels claims may curb the rule of law, said on Thursday he was forced to overhaul the legal system after the country's financial collapse five years ago.
http://on.ft.com/XAcPU0 Mexican peso hits 19 month high
Signs that the US is emerging from the financial turmoil in better shape than Europe, a strong move by President Enrique Peña Nieto this week to plow through structural reforms, and the prospects of a ratings upgrade from Standard & Poor's all combined to help push the peso to its highest level against the US dollar since September 2011 on Thursday.
http://on.ft.com/Z7DuUG IMF official to kick-start Egypt talks
The Middle East director of the International Monetary Fund will travel to Cairo on Sunday to kick-start talks with the authorities on a revised economic programme and the next steps in the IMF's engagement with Egypt.
http://on.ft.com/15PiOUF Chávez unlikely to be embalmed after all
Hugo Chávez's body is unlikely to be embalmed despite earlier plans to preserve it "for eternity" since preparations started too late, according to Nicolás Maduro, Venezuela's acting president.
http://on.ft.com/ZsFQNe Israel says Iran setting up army in Syria
Israel's military intelligence chief has accused Iran and Hizbollah of establishing a popular army inside Syria in a bid to maintain a strategic foothold in the country after Bashar al-Assad's fall.
http://on.ft.com/Wg8Tpy Asian markets rise on US optimism
Asian shares rebounded after three days of losses as growing optimism over the US economy helped send stocks higher globally.
http://on.ft.com/ZsGfiP International banks keen on new offshore RMB investment programme
International banks are likely to jump at the opportunities offered by China's latest move to liberalise the renminbi – this month's decision to open the Renminbi Qualified Institutional Investor (RQFII) programme to non-Chinese financial companies in Hong Kong.
http://on.ft.com/Z6uYW0 Emerging Markets
MSCI Emerging Market Index up +0.04% at 1,048 Americas
DJIA up +0.58% at 14,539
S&P 500 up +0.56% at 1,563
Bovespa down -0.18% at 57,281 Asia
Nikkei 225 up +1.30% at 12,543
Topix up +1.18% at 1,050
Hang Seng up +0.66% at 22,769
Shanghai Composite up +1.48% at 2,304
MSCI Asia ex-Japan up +0.14% at 548.18
S&P CNX Nifty Index up +0.01% at 5,910 Currencies
€/$ 1.30 (1.30)
$/¥ 96.13 (96.06) Commodities
Brent Crude (ICE) up +0.55 at 109.51
Light Crude (Nymex) up +0.24 at 93.27
100 Oz Gold (Comex) down -0.10 at 1,591 | 
