| * Brazil raises benchmark rate to double digits * Emerging markets: Wealth dips in Brazil and China * Oil traders join forces with Nigerians * Biden to press China on airspace dispute * Thailand cuts rates amid flagging growth * China set to unravel cotton stockpile * Russia abolishes highest commercial court * Greece gains from demotion to EM status * Vale to pay $9.6bn to end tax dispute * Markets: up! Brazil raises benchmark rate to double digits
The central bank hiked the Selic rate late on Wednesday for the sixth time in a row, extending what has become the world's biggest tightening cycle
http://on.ft.com/1a6Ucq0 Emerging markets: Wealth dips in Brazil and China
Managers predict growth in ultra rich despite hiccup
http://on.ft.com/1a6Ueyd Oil traders join forces with Nigerians
Commodity traders are key to the success of a sale between a Shell-led consortium and Nigerian oil companies, which in the past have struggled to wrap up deals
http://on.ft.com/1a6Ueyi Biden to press China on airspace dispute
The vice-president's trip to China signals the return of Asia to the top of US foreign policy priorities
http://on.ft.com/18G7QUU Thailand cuts rates amid flagging growth
The so-far peaceful protests have stoked international fears the country is weakening economically as investments and consumer spending are put on hold
http://on.ft.com/1a6Ucq4 China set to unravel cotton stockpile
China is to start selling down its huge cotton stockpile, comprising half the world total, in an anticipated move that has already dented prices
http://on.ft.com/IoaLIc Russia abolishes highest commercial court
Vladimir Putin is given more power over prosecutors in a move seen by many legal experts and businesses as further undermining Russia's legal system
http://on.ft.com/1a6Ucq6 Greece gains from demotion to EM status
Greek companies will enjoy bigger weightings in MSCI's emerging market indices than they had in the bigger developed market gauges
http://on.ft.com/1a6UeOD Vale to pay $9.6bn to end tax dispute
Vale has agreed to pay Brazilian authorities R$22.3bn ($9.6bn) to settle a decade-long dispute over back taxes, bringing an end to an issue that has scared away investors from the world's largest iron ore miner.
http://on.ft.com/1bXAKxk Emerging Markets
MSCI Emerging Market Index up +0.29% at 1,012 Americas
DJIA up +0.15% at 16,097
S&P 500 up +0.25% at 1,807
Bovespa up +0.81% at 51,861 Asia
Nikkei 225 up +1.20% at 15,635
Topix up +0.69% at 1,256
Hang Seng up +0.67% at 23,967
Shanghai Composite up +1.29% at 2,229
MSCI Asia ex-Japan up +0.63% at 556.85
CNX Nifty up +0.78% at 6,105 Currencies
€/$ 1.36 (1.36)
$/¥ 102.05 (102.15) Commodities
Brent Crude (ICE) up +0.55 at 111.59
Light Crude (Nymex) down -0.11 at 92.19
100 Oz Gold (Comex) down -5.80 at 1,237 | 
