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UPDATE 2-Egypt to set 2016-17 budget at devalued exchange rate -sources

CAIRO, Feb 8- Egypt is drafting its 2016-2017 budget on the basis of an exchange rate of 8.25 Egyptian pounds to the dollar compared to 7.75 pounds this fiscal year, two government sources said on Monday, indicating the central bank is preparing to devalue. Egypt's central bank has defended the pound against growing pressure to devalue, but with foreign exchange...
Source: Reuters | By: Ehab Farouk
Survivors found two days after Taiwan quake

A woman was pulled alive from a collapsed building and a man has been found trapped inside, more than 48 hours after an earthquake struck, officials said.
Source: Reuters
China seeks male teachers to make boys men

Worried that a shortage of male teachers is feminizing boys, Chinese educators are reinforcing traditional gender roles and values, the NYT reports.
Source: The New York Times | By: Javier Hernandez
China's corruption watchdog finds no major problems with financial agencies

BEIJING, Feb 4- China's central bank will maintain a prudent monetary policy and fend off financial risks, it said in a statement posted on the People's Bank of China website on Thursday. The Central Commission for Discipline Inspection, the ruling Communist Party's anti-corruption watchdog, finished inspections of 31 organisations, 21 financial agencies...
Source: Reuters
Xiaomi didn't authorize phone sales in US

Long-standing rumors that China's biggest smartphone maker would sell its phones in the U.S. were answered earlier this week ... and then not.
Source: CNBC.com | By: Evelyn Cheng
UPDATE 2-Australia cenbank sits tight, gives nod to global risk

SYDNEY, Feb 2- Australia's central bank held interest rates steady on Tuesday even as wild swings in global markets, deepening unease over China's economy and a fresh outbreak of easing abroad suggests risks are for a further cut going forward. The Reserve Bank of Australia did leave the door open to a move after its first policy meeting of the year, saying that a...
Source: Reuters | By: Wayne Cole
UPDATE 2-Egypt to launch agricultural commodities bourse by year-end

CAIRO, Feb 1- Egypt plans to launch an agricultural-focused commodities trading exchange, the first of its kind in the Middle East, by the end of 2016, Supplies Minister Khaled Hanafi said on Monday. "Egypt is the biggest importer of grains, and it will benefit from this, turning this from a point of weakness into a strength as Egypt becomes a point of exchange for the...
Source: Reuters | By: Eric Knecht
China, Hong Kong stocks down after weak factory activity survey

*China official PMI contacts at fastest pace in 3-1/ 2 years. *Margin calls fresh threat for China market. SHANGHAI, Feb 1- China and Hong Kong stocks indexes fell on Monday after the release of worse-than-expected China factory activity survey.
Source: Reuters
UnitedHealth Medicare plan must cover U.S. sex reassignment surgery

Jan 29- A U.S. government panel has ruled that a privately run Medicare plan must cover sex reassignment surgery for a Texas transgender woman, a decision her attorney said was the first of its kind. Until May 2014, Medicare excluded all sex reassignment surgery. Since that ban was lifted, coverage decisions for surgery and other transgender health services under...
Source: Reuters | By: Brendan Pierson
UPDATE 2-RBNZ holds rates, reverses course and flags more easing to come

*China slowdown hits dairy prices, farmers pile up debt. WELLINGTON, Jan 28- The global curse of too-low inflation struck again on Thursday when the Reserve Bank of New Zealand kept its official cash rate on hold and reopened the door to rate cuts just a month after all but slamming it shut. Su-Lin Ong, a senior economist at RBC Capital Markets, expects cuts in both...
Source: Reuters