Xinhua world economic news summary at 0430 GMT, March 19
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Mar. 19, 2011 (Xinhua News Agency) -- Xinhua world economic news summary at 0430 GMT, March 19

WASHINGTON -- Some banks can increase dividends and take other capital actions if they pass "stress tests," said Friday the U.S. Federal Reserve in a statement.

The U.S. Fed said that it had finished those tests for the 19 largest banks, including Citigroup Inc. (NYSE:C) , Bank of America Corp. (NYSE:BAC) , JPMorgan Chase (NYSE:JPM) & Co. and Wells Fargo & Co. (NYSE:WFC) As a result of the tests, some firms are expected to increase or restart dividend payments, buy back shares, or repay government capital, added the Fed. (U.S.-Fed-Banks)

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CHICAGO -- Honda Motor Co. (NYSE:HMC) is recalling more than 33,000 2011 Odyssey minivans to fix faulty windshield wipers, according to a Friday report on the website of National Highway Traffic Safety Administration (NHTSA).

According to the recall notice, Honda is recalling 33,341 units of Odyssey minivans, all from the 2011 model year, in order to fix faulty windshield wiper rods, which may fail in cold weather. (Honda-Recall)

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JOHANNESBURG -- Johannesburg's economy is set to grow by 4 percent year after year for the next three years, resulting in 12 percent growth by 2014, the city report has reveled.

The predicted growth comes despite global economic crisis which reduced the city's growth to 1.3 percent in 2009. (Johnnesburg-Growth Target)

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CHICAGO -- Chicago grain prices continued to post strong gains on Friday, as outside market recovered and investors turned their attention once again to fundamentals of the grain market.

The most active corn contract for May delivery climbed 37 cents, or 5.7 percent, to close at 6.835 U.S. dollars per bushel. May wheat added 12.75 cents, or 1.8 percent, to 7.23 dollars per bushel. May soybean rose 27.25 cents, or 2 percent, to 13.625 dollars per bushel. (U.S.-Grain Futures)

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(Source: Quotemedia)


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