Swiss Franc Climbs to Two-Year High Versus Dollar as Carry Trades Unwound

(Bloomberg) -- The Swiss franc rose to its highest in
more than two years against the dollar as investors sold riskier
assets, such as equities, and repaid loans taken out in the Swiss
currency.

The franc advanced against 14 of the 16 most-traded
currencies as stocks in Europe and Asia fell, following a drop in
benchmark U.S. equity markets last week. Traders unwound so-
called carry trades, where they borrowed the franc to buy higher-
yielding assets, on concern U.S. subprime mortgage losses will
erode economic growth.


Read more at Bloomberg Currencies News

Saudi Aramco Raises Heavy Variety Crude Prices for Asia to 26-Month High

(Bloomberg) -- Saudi Aramco, the world's largest
state oil company, raised September prices of its heavy crude
oil varieties for Asian customers to a 26-month high as
refining profit from making fuel oil gained.

Arab Medium grade's discount to benchmark varieties was
narrowed by 50 cents to $1.35 a barrel and Arab Heavy's
differential was reduced by 70 cents to $3.60 a barrel, said
three Asian officials who asked not to be identified, citing
confidentiality. The two grades yield more fuel oil.


Read more at Bloomberg Energy News

Asian Fish, Tainted With Drugs, Slip Past U.S. Inspectors, States Discover

(Bloomberg) -- Joseph Basile, an Alabama state
scientist, drops a frozen catfish filet into an industrial food
processor and pulverizes it into a fluffy white powder.

The grinding in a laboratory in Montgomery is part of a test
of imported seafood for drugs that U.S. regulators say can cause
cancer or increase resistance to antibiotics. Alabama officials
have reported finding banned medicines missed by the U.S. Food
and Drug Administration in seafood from China, Vietnam and other
Asian countries.


Read more at Bloomberg Exclusive News

Asian Shares Advance, Posting Longest Monthly Winning Streak in 20 Years

(Bloomberg) -- Asian stocks rose as higher earnings
from Olympus Corp. and Hang Seng Bank Ltd. helped the region's
benchmark post its longest monthly winning streak in 20 years.

BHP Billiton Ltd. led gains by mining companies on
speculation profits will climb along with metals prices.
Disappointing earnings from Kyocera Corp. and Kookmin Bank
limited today's advance.


Read more at Bloomberg Stocks News

European, Asian Stocks Rise on Speculation Credit Worries Were Overdone

(Bloomberg) -- European stocks rebounded from a
five-day slide, while Asian shares climbed for a second day as
investors speculated declines have left global equities cheap
relative to prospects for earnings growth.

Aviva Plc, HSBC Holdings Plc and UBS AG led gains by
financial stocks in Europe. GlaxoSmithKline Plc, the region's
second-largest drugmaker, jumped after a panel of medical
specialists said its Avandia drug should remain on the U.S.
market. Olympus Corp. and Hang Seng Bank Ltd. paced gains in Asia
after the companies reported higher earnings.


Read more at Bloomberg Stocks News

Indonesia's July Crude Oil Production Falls 0.4 Percent From Month Earlier

(Bloomberg) -- Crude oil output in Indonesia,
Southeast Asia's biggest oil producer, fell 0.4 percent in July
from June, regulator BPMigas said.

Crude production declined to an average of 825,614 barrels a
day from 828,941 barrels a day a month earlier, BPMigas said
today. Output of condensate, a type of light oil produced in
association with natural gas, climbed 2.3 percent to 118,072
barrels a day in July.


Read more at Bloomberg Energy News

Asian Stocks Rebound From 1-Month Low; JFE, Nippon Steel Rise, Canon Falls

(Bloomberg) -- Asian stocks rebounded from a one-
month low after higher profits at JFE Holdings Inc. and Nippon
Steel Corp. offset concerns of a drop in U.S. housing investment.

Canon Inc., the world's largest digital-camera maker, and
Macquarie Bank Ltd., Australia's biggest investment bank, led
declines on speculation the housing slump will slow U.S. consumer
spending and end a global boom in takeovers.


Read more at Bloomberg Stocks News

Tunisia Central Bank, Kingboard, Hong Long, Sri Lanka: Asia Bond Alert

(Bloomberg) -- PT Mobile-8 Telecom, an Indonesian
mobile-phone operator that counts Qualcomm Inc. as an investor,
and Hong Long Holdings Ltd., a Chinese developer, are among
borrowers seeking to sell at least $5.6 billion of bonds in Asia,
according to data compiled by Bloomberg.

Governments and companies in Asia sold $43.8 billion of
debt denominated in dollars, euros and yen this year, up from
$38.2 billion a year earlier, Bloomberg data show. Sales of
Samurai bonds, yen debt sold by foreign entities in Japan, rose
to 1.4 trillion yen ($11.8 billion), from 741 billion yen in the
whole of 2006.


Read more at Bloomberg Bonds News

Bank Rakyat, Bharat Heavy, China Life, Hana: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or
fall today in Asian markets, excluding Japan. This preview
includes news that broke after markets closed on July 27. Prices
are from the local market's last close. Stock symbols are in
parentheses after company names.

PT Bank Rakyat Indonesia (BBRI IJ): Indonesia's biggest
lender by market value said profit in the first half rose 17
percent as it expanded lending to companies and consumers in an
accelerating economy. Net income increased to 2.36 trillion
rupiah ($255 million) in the six months ended June 30, from 2.01
trillion rupiah a year earlier. The shares fell 200 rupiah, or
3.2 percent, to 6,100.


Read more at Bloomberg Stocks News

Madagascar, China sign deals worth $78 million

(Reuters) - China and Madagascar have signed four deals worth roughly $78 million for hotel construction and debt alleviation among other things, Malagasy officials said.

The deals confirmed agreements made at the China-Africa summit in Beijing last November between the Asian powerhouse and the enormous, mineral-rich island.


Read more at Reuters Africa

Asian Stocks Have Worst Week in a Year on Housing Concern; Samsung Drops

(Bloomberg) -- Asian stocks had the biggest weekly
drop in a year as U.S. reports heightened concern that a housing
slump is spreading in the world's biggest economy. BHP Billiton
and Samsung Electronics Co. led the slide.

``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages
the equivalent of $11.4 billion. ``If the U.S. is under question,
there might be a broader contagion.''


Read more at Bloomberg Stocks News

KfW Sells First Bonds Denominated in Thai Baht to Attract Asian Investors

(Bloomberg) -- KfW Group, the German government-
owned finance agency, sold its first bonds in Thai baht to
attract new investors in Asia.

Deutsche Bank AG arranged the sale of 3 billion baht ($100.8
million) of the three-year bonds to Thai pension funds, insurance
companies and banks, according to a press statement from KfW in
Frankfurt.


Read more at Bloomberg Bonds News

LS Cable, SK Telecom, Taiwan Semiconductor: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news that
broke after markets closed. Prices are from the local market's last
close. Stock symbols are in parentheses after company names.

AU Optronics Corp. (2409 TT): AU said after the market closed
that second-quarter profit surged to NT$5.99 billion from NT$182
million a year earlier. The company was expected to report profit
of NT$2.47 billion, according to a Bloomberg survey. AU, the
world's third-largest maker of liquid-crystal displays, advanced
NT$1.20, or 2.3 percent, to NT$54.


Read more at Bloomberg Stocks News

Japanese Yen, Malaysia's Ringgit, Thailand's Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Newcastle Coal Price Falls a Third Week as Demand From Asian Buyers Eases

(Bloomberg) -- The price of power-station coal at
Newcastle, the world's largest export harbor for the fuel, fell
for a third week after Asian customers bought sufficient
inventories to meet demand for the peak summer season.

Coal for immediate delivery dropped 70 cents to $66.30 a
metric ton in the week ended July 20 from the previous week,
according to the globalCOAL NEWC Index. Prices reached a record
$70.88 a ton for the week ended June 28 after storms along
Australia's east coast disrupted shipments.


Read more at Bloomberg Energy News

Asian Stocks Fall From a Record; Honda, Exporters Decline on U.S. Concern

(Bloomberg) -- Asian stocks fell, with a key
regional index dropping from a record. Honda Motor Co. paced a
decline among exporters as disappointing earnings from
Caterpillar Inc. dented confidence in the U.S. economy.

``Caterpillar's result suggested some earnings estimates
were too optimistic,'' said Norihiro Fujito, strategist at
Mitsubishi UFJ Securities Co. in Tokyo.


Read more at Bloomberg Stocks News

Japanese Yen, China Yuan, Indian Rupee, Thai Baht: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

European Government Bonds Fall on Speculation Growth Will Remain Resilient

(Bloomberg) -- European government bonds fell as
waning concern that defaults on U.S. subprime mortgages will hurt
the wider economy prompted investors to seek higher yields on
riskier assets such as stocks and emerging market debt.

Benchmark 10-year debt dropped, pushing yields up from a
week low, as shares in Asia rallied after a Chinese report that
showed the economy grew at the fastest pace in 12 years and as
European equities rose. Federal Reserve Chairman Ben S. Bernanke
yesterday predicted growth will pick up ``a bit'' next year.


Read more at Bloomberg Bonds News

China, India, Indonesia, South Korea, Sri Lanka: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The Agricultural Development Bank of China on July
17 sold 10 billion yuan ($1.32 billion) of five-year floating
rate notes. The interest rate was based on the current one-year
deposit rate of 3.06 percent plus an auctioned spread of 73
basis points. The bank will auction another 10 billion yuan of
one-year fixed rate notes next week. Major economic data in June,
including the consumer prices index, will be released today,
according to the Bureau of Statistics.


Read more at Bloomberg Bonds News

Dow Jones director Li probed on insider trade -WSJ

(Reuters) - Li is chairman and chief executive officer of Bank of East Asia , a mid-tier Hong Kong lender. He is also a member of Hong Kong's Legislative Council.




Dow Jones's board on Tuesday endorsed a $5 billion buyout offer from Rupert Murdoch's News Corp., sending the deal to Dow Jones' controlling Bancroft family for final approval. Dow Jones representatives were not immediately available for comment on Li.


Read more at Reuters.com Government Filings News