Ecuador Default May Hit `True Monsters' Harder Than Argentina, Bonds Show Ecuador may saddle investors with the biggest losses in a government bond restructuring since at least World War II after President Rafael Correa fulfilled a two-year pledge to default on debt he calls “illegitimate.”

China's Industrial Output Grows at Weakest Pace Since 1999 on Export Slump China’s industrial production grew at the weakest pace in almost a decade as export growth collapsed, increasing pressure on the government to do more to revive the slumping economy.

Polish Currency Options Trigger $169 Million in Losses as Zloty Plunges Polish companies reported losses of about 500 million zloty ($169 million) on options contracts after the currency plunged 20 percent in the past five months.

Macquarie Group Said to Be Forming China Venture With Hengtai Securities Macquarie Group Ltd., Australia’s biggest investment bank, plans a venture with Hengtai Securities Co. to gain access to China’s $70 billion equity and bond underwriting market, two people familiar with the matter said.

Ruble Is Devalued for Second Time in Three Days as Russia Weakens Defense Russia’s central bank devalued the ruble for the second time in a week after policy makers spent $161 billion of reserves trying to defend the currency and oil revenue slumped.

Pakistani Shares Mostly Untraded After Regulator Eases Stock Trading Curbs Pakistan stocks were mostly untraded as the removal of some trading curbs failed to persuade investors to reenter a market shuttered for almost four months following the ouster of the president and a slump in global equities.