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BEIJING – Chinese consumer inflation spurted to a 16-month high in February and a raft of economic data displayed broad-based strength, providing fresh arguments for policy tightening sooner rather than later.

The pace of credit growth halved in February, as expected, but some economists said the central bank would probably not wait long before increasing banks required reserves for a third time this year and perhaps even raising borrowing costs.

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LONDON – World stock markets traded in a narrow range Thursday amid growing concerns of an overheating Chinese economy and as investors awaited more US economic data over the rest of the week for further insights into the state of the US economic recovery.

In Europe, the FTSE 100 index of leading British shares was down 1.19 point at 5,639.38 while the CAC-40 in France was less than a point lower at 3,942.88. Germanys DAX rose 9.09 points, or 0.2 percent, to 5,945.81.

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LONDON – Global oil demand will rise more quickly than expected in 2010, OPEC said on Wednesday, increasing the need for crude from the 12-member group which meets to set policy next week.

OPEC joins the US governments forecaster in raising oil demand estimates this week. Still, OPECs outlook remains conservative and it is widely expected to leave output policy steady when it meets on March 17.

Demand will rise by 880,000 barrels per day (bpd) in 2010 to average 85.24 million bpd, the Organization of the Petroleum Exporting Countries said in a monthly report. The growth rate is up 70,000 bpd from the previous forecast.

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ABU DHABI – News Corp chief Rupert Murdoch hinted on Tuesday that the Gulf emirate of Abu Dhabi could become headquarters of his global media empire in the Middle East.

Addressing some 400 delegates at the opening of the Abu Dhabi Media Summit, Murdoch said his corporation had started out as a small Australian firm to become a US-based international company that employs 64,000 people.

“I have every confidence that Arab companies can do the same and more. I also believe that Abu Dhabi can lead the way.”

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BEIJING – Chinas exports rose in February in a new sign of growing global demand that could help persuade officials to let the Chinese currency rise.

Exports were up 45.7 percent over a year earlier, the Chinese customs agency reported Wednesday, beating analyst forecasts of 35 to 40 percent growth. Imports surged 44.7 percent, the agency said, reflecting growing demand in China as it emerges from the global crisis.

“Chinas trade is extending its recovery,” said Zhu Jianfang, an economist for Citic Securities in Beijing. “Exporters are getting more orders these days.”

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MUMBAI – Ford Motor Co. launched its first made-for-India compact car Tuesday, as the US automaker continues its push into fast-growing Asian markets.

The four-door Figo, Italian for “cool,” is the Dearborn, Michigan-based automakers first car designed – and priced – for the mass Indian market.

“Come heat, come dust, come monsoon rains or Delhi traffic, the Figo was born and bred for India,” said Michael Boneham, president and managing director of Ford India.

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HONG KONG – Most Asian markets rose slightly Tuesday, but trading was subdued as investors awaited more clues about the health of the world economy following big gains the day before. European shares slipped in early trade.

A number of Asian markets fluctuated in line with Wall Streets mixed finish. Oil prices fell to near $81 a barrel, while the dollar weakened against the yen and strengthened against the euro.

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SHANGHAI – Chinas passenger car sales climbed 55 percent from a year earlier in Feburary, despite a long national holiday, on strong demand for smaller cars and sport utility vehicles, an industry group reported Tuesday.

Sales of cars, commercial vehicles and SUVs rose to 942,900 units, while sales of all vehicles including trucks and buses rose 46 percent year-on-year to 1.21 million, according to the government-affiliated China Association of Automobile Manufacturers.

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JEDDAH – The current oil price is helping make renewable energy available to all, Prince Abdulaziz Bin Salman Bin Abdul Aziz, Assistant Minister for Petroleum Affairs, said here Monday.

He was addressing media personnel after the first session of the Gulf Environment Forum (GEF) organized by Presidency of Meteorology and Environment (PME).

Commenting on the demand for Organization of Petrol Exporting Countries (OPEC) to increase the oil quota to lower the existing prices, the Prince said nobody can dictate terms to the oil group. OPEC, he said, decides its course of action according to the needs of the market. “Generally what we are looking forward here is to stabilize the prices because we believe that this is the main factor of the real development,” he said.

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WASHINGTON – The US government, while pushing for tougher sanctions against Tehran, has given $107 billion in the last 10 years to US and foreign companies doing business in Iran, much of it in the energy sector, The New York Times reported Saturday.

Despite the threat of punishment for companies that seek US federal contracts while dealing with Iran, the Times said successive administrations have struggled to exert authority over foreign companies and overseas units of US firms.

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