| * Brazil raises benchmark rate to double digits * Ukraine casts shadow over EU summit * Japan and S Korea flout China air rules * Oil traders join forces with Nigerians * Farmers' plight exposes Philippine dilemma * Thailand cuts rates amid flagging growth * The 'Yakult Ladies' of Indonesia * Russia abolishes highest commercial court * Greece gains from demotion to EM status * Vale to pay $9.6bn to end tax dispute * Markets: up mostly 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 Ukraine casts shadow over EU summit
Summit must try to salvage hopes of a future deal with Ukraine and put a brave face on the limited success of the four-year-old programme
http://on.ft.com/1cabV4z Japan and S Korea flout China air rules
Both Japanese and South Korean military aircraft have flown through China's recently declared air defence zone, breaking Beijing restrictions
http://on.ft.com/1cabUOj 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 Farmers' plight exposes Philippine dilemma
Among government's challenges will be to prevent most of the 4.2m people displaced by Typhoon Haiyan from sinking further into poverty
http://on.ft.com/1a6Ueyc 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 The 'Yakult Ladies' of Indonesia
How Yakult, the Japanese maker of probiotic yoghurt drinks, is trying to expand its footprint in emerging markets as sales stagnate at home
http://on.ft.com/1a6UeOB 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 ($9.6bn) to settle a decade-long dispute over back taxes, bringing an end to an issue that has scared away investors from the world's largest iron ore miner.
http://on.ft.com/1bXAKxk Emerging Markets
MSCI Emerging Market Index up +0.24% at 1,011 Europe
FTSE up +0.16% at 6,660
RTS down -0.03% at 1,404
Warsaw Wig down -0.36% at 54,481
FTSE 300 Eurotop up +0.39% at 1,306 Americas
DJIA up +0.15% at 16,097
S&P 500 up +0.25% at 1,807
Bovespa up +0.81% at 51,861 Asia
Nikkei 225 up +1.80% at 15,727
Topix up +1.12% at 1,261
Hang Seng down -0.07% at 23,789
Shanghai Composite up +0.83% at 2,219
MSCI Asia ex-Japan up +0.32% at 471.12
CNX Nifty up +0.57% at 6,092 Currencies
€/$ 1.36 (1.36)
$/¥ 102.21 (102.15) Commodities
Brent Crude (ICE) down -0.29 at 111.02
Light Crude (Nymex) down -0.11 at 92.19
100 Oz Gold (Comex) up +3.50 at 1,241 | 
