Dollar Trades Near Six-Week High; Reports May Keep Federal Reserve on Hold

(Bloomberg) -- The dollar traded near a six-week
high against the euro on speculation housing and job reports
this week will ease pressure on the Federal Reserve to reduce
interest rates this year.

The U.S. currency last week reached the strongest in three
months versus the yen as traders cut bets the Fed will lower
borrowing costs from 5.25 percent. U.S. reports this week may
show consumer confidence increased, employment growth
accelerated and home sales gained.


Read more at Bloomberg Currencies News

Japan Shares Rally, Led by Nintendo, on Weak Yen, Higher Commodity Prices

(Bloomberg) -- Japanese stocks rebounded from their
biggest loss in a month, led by exporters after the yen weakened
against the dollar and euro, boosting the value of their
overseas sales. Trading companies gained after commodities
prices rose at the end of last week.

Nintendo Co., Japan's second-largest video-game maker,
climbed for the first time in three days. Mitsubishi Corp., the
nation's biggest trading company, jumped 2 percent.


Read more at Bloomberg Stocks News

Tata Tea Shares Rise to 15-Month High on $1.2 Billion Glaceau Stake Sake

(Bloomberg) -- Shares of Tata Tea Ltd., a unit of
India's biggest business group, rose to a 15-month high after it
agreed to sell its stake in Energy Brands Inc. to Coca-Cola Co.
for $1.2 billion.

Tata Tea made a profit of $523 million from the sale of its
30 percent stake in Energy Brands, Vice Chairman R.K. Krishna
Kumar said on May 25. The Kolkata-based company paid $677
million for its stake in Energy Brands, known as Glaceau, in
August.


Read more at Bloomberg Commodities News

Datasul, Coca-Cola Femsa, Grupo Mexico, Marcopolo: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

India's Rupee May Decline on Central Bank Sales of Currency, Survey Shows

(Bloomberg) -- The Indian rupee, the best performing
Asian currency this year, will decline as the central bank sells
it to protect the nation's exporters, a survey of traders shows.

A slowdown in the pace of inflation to an eight-month low
may give the Reserve Bank of India room to increase rupee sales,
after scaling back dollar purchases in March and April. The
currency gained 9 percent this year to a nine-year high, helping
reduce the cost of imports and pressure for price increases.


Read more at Bloomberg Currencies News

Islamic Nations to Boost Investment, Trade to Safeguard Economic Growth

(Bloomberg) -- Muslim countries will this week call
for greater foreign investment and trade between Asia-Pacific
and the Middle East to help safeguard economic growth and jobs.

Malaysian Prime Minister Abdullah Ahmad Badawi and his
counterparts from Indonesia and Kuwait, Susilo Bambang Yudhoyono
and Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, will join
investors at the three-day World Islamic Economic Forum in Kuala
Lumpur to discuss projects and investments to facilitate that.


Read more at Bloomberg Emerging Markets News

Stockland to raise US$300 mln min in U.S. bonds

(Reuters) - Typical buyers of U.S. traditional private placements are
U.S. insurance companies keen on long-dated paper to match
their assets.




They require a rating from the National Association of
Insurance Commissioners which has its own grid ranging
from NAIC-1 for the best credit to NAIC-6, the lowest.


Read more at Reuters.com Bonds News

Asian Stocks Advance on Metals Prices, Weaker Yen; BHP Billiton, Sony Rise

(Bloomberg) -- Asian stocks rose for the first time
in three days after metals prices gained and the yen weakened
against the dollar and euro.

Materials producers including BHP Billiton Ltd., the
world's biggest mining company, posted the biggest gains among
the Morgan Stanley Capital International Asia-Pacific Index's 10
industry groups. Sony Corp. advanced on speculation a weaker yen
will boost the value of overseas sales at Japanese exporters.


Read more at Bloomberg Stocks News

Japan's Nikkei Average, Topix Index Rise; Sony, Mitsui & Co. Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 63.48, or 0.4 percent, to 17,544.69 at 9:02 a.m. in Tokyo.
The broader Topix index added 8.70, or 0.5 percent, to
1724.24.

Sony Corp. and Mitsui & Co. led the advances.


Read more at Bloomberg Stocks News

Japan Airlines Placed on Watch Negative by Standard & Poor's on Debt Swap

(Bloomberg) -- Standard & Poor's, the international
ratings company, said yesterday it placed the long-term corporate
credit ratings of Japan Airlines Corp. on credit watch with
negative implications, after a report that the carrier asked its
banks to convert some debt into equity.

S&P's B+ rating on the airline, four levels below investment
grade, was reaffirmed.


Read more at Bloomberg Bonds News

Xstrata extends expiry time on offer for Lionore

(Reuters) - LionOre Mining said on Thursday that Russian Norilsk
Nickel's takeover bid
for the company was superior to a rival, C$6.2 billion offer by
Xstrata.




Read more at Reuters.com Mergers News

AMO recalls Complete MoisturePlus lens solution

(Reuters) - The CDC estimated that risk of infection was at least seven
times greater among users of the Complete MoisturePlus solution
compared with those who did not, the company said.




"As patient safety is paramount to AMO, the company is
taking decisive action to stop shipments, recall product from
the marketplace, and encourage consumers to discontinue the use
of AMO Complete MoisturePlus until further information is
available," the company said in a statement.


Read more at Reuters.com Business News

UPDATE 1-Dubai's DIFC to sell $1 bln of Islamic bonds-source

(Reuters) - MANAMA, May 27 - Dubai's financial centre, which
said this month it bought a 2.2 percent stake in Deutsche Bank
AG bond sale.


Read more at Reuters.com Bonds News

China finds 240 bcm gas reserves in south

(Reuters) - China has found gas deposits with "verified exploitable" reserves of about 240 billion cubic metres (bcm) around four years of current production, near Sinopec's massive Puguang field, the official Xinhua agency reported.

The already announced Puguang field accounted for over half of 600 bcm of reserves Xinhua said were discovered in a basin that could hold up to 3.8 trillion cubic metres of natural gas.


Read more at Reuters Africa