A roundup of news in finance, economics and business from around the world:

INTERNATIONAL NEWS

ATHENS - Greece and the IMF say negotiations for landmark debt deals will be concluded in a "matter of days", raising hopes that the country will dodge a disastrous default.

HONG KONG - Hong Kong's economic growth fell further in the final quarter of 2011 as global trade weakened, and the government has forecast an anaemic expansion this year.

JAKARTA - Indonesian exports surged 29 per cent last year and January inflation eased, as South-East Asia's largest economy targeted emerging countries amid weakness in US and European markets, new data has shown.

RANGOON - Burma owes $US11 billion ($A10.4 billion) in sometimes-decades-old foreign debt and is negotiating with Japan and Italy to repay the outstanding sums, the finance minister says, disclosing the country's external debt for the first time in recent years.

GABORONE - Botswana's diamond sales plunged by more than 70 per cent in the second half of 2011, to $US160.3 million ($A151.45 million), Finance Minister Kenneth Matambo said.

NEW YORK - American Airlines said it needed to cut costs by 20 per cent to stay afloat, as it met with union representatives to detail a plan for layoffs that reports said would total 13,000 workers.

LONDON - Global mining giant BHP Billiton says it has agreed to sell its stake in South African mineral sands venture Richards Bay Minerals to partner Rio Tinto, signalling its exit from titanium.

WELLINGTON - Rio Tinto's 40-year-old aluminium smelter at Tiwai Point, near Bluff, had its biggest production year ever in 2011.

KUALA LUMPUR - Malaysia has granted approval to Australian miner Lynas Corp to operate its 700 million ringgit ($A217 million) rare earth plant despite public protests over fears of radioactive contamination.

CHICAGO - Less than three years after emerging from a government-backed bankruptcy, iconic US automaker Chrysler on Wednesday posted its first annual profit and vowed to keep the money pouring at an even faster pace.

ROME - The family holding company that controls Italian fashion label Benetton has set a price of 4.6 ($A5.69) per share in a public offer that aims to remove the company from the Milan stock exchange.

WELLINGTON - Briscoe Group, the home-ware and sporting goods retailer, posted a 4.7 per cent gain in fourth-quarter sales and said a strong finish to the year drove annual profit up at least 25 per cent.

WELLINGTON - Prices of dairy products sold on Fonterra's GlobalDairyTrade platform fell for the third time in four sales.

NEW YORK - US stocks have bolted higher as an expected Facebook debut on the market fired up sentiment.

LONDON - European stock markets closed sharply higher on Wednesday as positive Chinese manufacturing helped to offset concerns over dragging talks on a crucial Greek debt write-down deal.

WELLINGTON - The New Zealand dollar has extended its rally against the greenback and euro, as upbeat manufacturing data across the United States, Europe and China indicated the global economy is recovering.

LOCAL NEWS

SYDNEY - The Australian dollar rose to a three-month high as the cost of borrowing for European governments falls and after the release of good manufacturing data from Europe and China.

SYDNEY - The Australian market looks set to open higher following a strong positive lead from both the US and Europe overnight.