| * China cuts its growth target … or does it? * Egypt faces moment of reckoning on its economy as protests wane * China accuses GlaxoSmithKline of bribing officials over prices * Infosys Q1 net profit up 3.7 percent, meets estimates * Batista empire hurt by board departures * Austerity threatens to take gloss off China's national games * TeliaSonera attacks Turkcell board move * Kazakhmys vote on ENRC takeover nears Markets: mixed China cuts its growth target … or does it?
Has China just cut its 2013 growth target? That is the question being asked today after Lou Jiwei, the finance minister, said in unscripted comments that China was aiming for a 7 per cent GDP expansion this year, down from the 7.5 per cent goal set during the national parliament in March.
http://on.ft.com/1btplrN Egypt faces moment of reckoning on its economy as protests wane
The initial euphoria of those who backed the military overthrow of Egypt's elected Islamist government is fading and Egyptians must now reckon with an economy that remains in crisis, despite a large injection of financial aid promised by Gulf states supportive of the coup.
http://www.ft.com/cms/s/0/26a13702-ea35-11e2-b2f4-00144feabdc0.html China accuses GlaxoSmithKline of bribing officials over prices
China has accused GlaxoSmithKline of being at the centre of a "huge" scheme to raise drug prices in three of the country's biggest cities and said the UK-based drugmaker's staff had confessed to bribing government officials and doctors.
http://on.ft.com/13CKaRa Infosys Q1 net profit up 3.7 percent, meets estimates
Infosys, India's second-largest software services exporter, posted a 3.7 percent year-on-year increase in its first-quarter net profit, matching estimates, after contract wins and foreign exchange gains boosted earnings.
http://reut.rs/16w953K Batista empire hurt by board departures
Eike Batista's empire showed further signs of unravelling after four board members left the Brazilian billionaire's shipbuilder OSX, including his own father and a former mining and energy minister.
http://on.ft.com/13RHkGU Austerity threatens to take gloss off China's national games
Fireworks are out and frugality is in at China's national games after the organising committee rushed to comply with edicts requiring officials across the country to tighten their belts as the economy slows.
http://on.ft.com/10OATkZ TeliaSonera attacks Turkcell board move
A Turkish government regulator plans to appoint a majority of the board members of Turkcell, the country's leading mobile group, even though Sweden's TeliaSonera, the biggest minority shareholder, has labelled such a move a virtual "nationalisation".
http://on.ft.com/1awH03R Kazakhmys vote on ENRC takeover nears
The largest shareholder in Eurasian Natural Resources Corporation will as early as Friday set in motion plans that will lead the troubled miner's founders to complete their takeover attempt.
http://on.ft.com/11G5CmR Emerging Markets
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