Stocks of developing nations fell, dragging the MSCI Emerging Markets Index down 10 percent from its 2009 peak on concern the recovery will be weaker than economists forecast. The yen rose for a third day against the dollar. Russian stocks, which entered a bear market yesterday after the Micex index sank more than 20 percent, dropped as much as 6 percent before recouping the loss. Emerging-market shares fell after the World Bank forecast yesterday that the first global recession since World War II will be deeper than it predicted in March. U.S. wealth may take 15 years to rebound, Edmund Phelps, a professor at Columbia University and the winner of the 2006 Nobel Prize for economics, said in a recent interview. “After the World Bank report yesterday we see more concern about the return of negative growth dynamics,” said Michael Ganske, head of emerging-market research at Commerzbank AG in London. “Investors realize that all the discussions of a sharp, V-shaped recovery are not going to materialize.” Airbus SAS, the world’s largest commercial planemaker, rolled out the first aircraft assembled at its China factory as it seeks to win more orders in the world’s second-largest aviation market. The planemaker aims to deliver 10 more A320s this year from its factory at Tianjin, near Beijing, it said in a statement today. Production will be raised to four aircraft a month by the end of 2011 at the plant, Airbus’s first outside Europe. Airbus is competing with Boeing Co. to grab orders in China, counting on sales in emerging markets to help offset slumping demand in the US and Europe.

China will probably need 3,238 passenger planes valued at $391.2 billion from 2007 to 2026, according to the Toulouse, France-based planemaker. Domestic air passenger numbers rose 17 percent to 56.9 million in the first four months, while traffic on international routes fell 17 percent to 5.6 million, according to the Civil Aviation Administration of China. Air passenger numbers rose an average 16 percent in the past 30 years to 190 million through 2008. China aims to boost travel to 700 million trips annually in 2020, Li Jiaxiang, director of the Civil Aviation Administration of China, said on April 8. The Kenyan government has issued an alert on the cholera outbreak following an upsurge of the disease that has killed 81 people countrywide. Last Friday’s alert came as health experts appealed to President Kibaki to declare the outbreak a national disaster. Yet another cholera case was reported at the Malindi District Hospital, with more than 20 other patients admitted with symptoms of the disease. However, the medical officer of health, Dr Ali Hassan, said the patient was responding well to treatment. And speaking in her Dagoretti Constituency in Nairobi, Public Health minister Beth Mugo attributed the outbreak to water shortage, which is causing residents to compromise on sanitation standards. Nairobi is experiencing water rationing expected to last till the end of this year.