Singapore Dollar to Rise 10 Percent to Record $1.38, BNP Paribas Predicts

(Bloomberg) -- The Singapore dollar may rise 10
percent to a record in a year as an influx of tourists and
bankers supports economic growth, BNP Paribas SA said.

The currency may reach S$1.38 per dollar by June 30, passing
the record of S$1.3835 reached in 1995, as the Monetary Authority
of Singapore seeks gains to curb inflation, said Thio Chin Loo,
senior foreign-exchange strategist in Singapore at France's
largest bank by market value.


Read more at Bloomberg Currencies News

Asian Aframax Rates May Extend Decline Before August Vessel-Bookings Start

(Bloomberg) -- The rate for shipping fuel on
tankers that can carry between 80,000 metric tons and 120,000
tons on Asian routes may extend a decline until refiners and
traders increase vessel bookings for August.

The cost of shipping 80,000 tons of crude oil on so-called
aframax tankers to Singapore from Kuwait dropped 0.6 percent to
Worldscale 135.58 on July 13, according to the London-based
Baltic Exchange. It fell for a third week, losing 5.2 percent in
the week ended July 13.


Read more at Bloomberg Energy News

Oversea-Chinese, Singapore Airport, Ascott: Singapore's Equity Preview

(Bloomberg) -- The following shares may rise or fall
in Singapore. Stock symbols are in parentheses and prices are
from the previous market close.

The Straits Times Index gained 0.8 percent to 3654.61. The
July futures contract rose 0.6 percent to 449.1.


Read more at Bloomberg Stocks News

U.S. Treasuries Fall After European Bonds Decline on Interest Rate Concern

(Bloomberg) -- U.S. 10-year Treasury notes dropped
after Europe's government bonds slid for a second day yesterday
on speculation the European Central Bank will keep increasing
interest rates from a six-year high.

The yield on the benchmark 10-year note rose 2 basis points
to 5.06 percent as of 7:56 a.m. in Singapore, according to bond
broker Cantor Fitzgerald LP. The price of the 4 1/2 percent
security due in May 2017 fell 5/32, or $1.56 per $1,000 face
amount, to 95 21/32. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

U.S. Treasury Notes Decline as Gains in U.S. Stocks Ease Demand for Safety

(Bloomberg) -- Ten-year Treasury notes fell,
snapping two days of gains, after an advance in U.S. stocks
eased demand for the relative safety of government securities.

The yield on the benchmark 10-year note rose 2 basis points
to 5.01 percent as of 9:14 a.m. in Singapore, according to bond
broker Cantor Fitzgerald LP. The price of the 4 1/2 percent
security due in May 2017 fell 1/8, or $1.25 per $1,000 face
amount, to 96 3/32. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Oil Extends Gains as Drop in U.S. Gasoline Stocks Prompts Supply Concerns

(Bloomberg) -- Crude oil rose in New York, extending
yesterday's $1-a-barrel gain, on concern that U.S. gasoline
supplies during the peak demand season may not be adequate after
a government report showed an unexpected decline in inventories.

Crude oil for August delivery rose as much as 36 cents, or
0.5 percent, to $69.33 a barrel in after-hours electronic trading
on the New York Mercantile Exchange. It was at $69.26 at 11:30
a.m. in Singapore.


Read more at Bloomberg Energy News

Beijing, Shanghai Property Prices Are Too High, Cheung Kong, Far East Say

(Bloomberg) -- Property prices in Shanghai, Beijing
and Guangzhou are too high and developers should focus on the
smaller Chinese cities as consumers there grow richer, real
estate executives said.

``First-tier cities are getting too expensive,'' Justin Chiu,
executive director at Cheung Kong (Holdings) Ltd., Hong Kong's
biggest developer, said in an interview in Singapore today.
``Anywhere in the world people who support the property market
are from the middle class, but in these first-tier cities, prices
are getting too high for middle class people to absorb.''


Read more at Bloomberg Emerging Markets News

Euro-Swedish Krona Technical Chart Shows Drop to 9.10 Is Likely, UBS Says

(Bloomberg) -- The euro may drop to a four-month low
of 9.10 Swedish krona in three weeks, according to price charts,
said Tow Keong Su, technical analyst at UBS AG in Singapore.

The currency pair is likely to fall further after breaking
below a trend line connecting the Nov. 17, 2005, high of 9.6565
and the April 3 high of 9.3827. Momentum indicators such as moving
average convergence/divergence, the relative strength index and
stochastics also suggest declines. The stokie, as Sweden's
currency is known, surged the most in five years yesterday after
the Riksbank said it will raise interest rates more than it
previously predicted this year.


Read more at Bloomberg Currencies News

Sakhalin Energy Offers 730,000 Barrels of Vityaz Crude for August Loading

(Bloomberg) -- Sakhalin Energy Investment Co. is
offering to sell one 730,000 barrel cargo of Vityaz crude for
loading in August, said traders who received offer documents.

---------------------------------------------------------------
Crude:         Vityaz from Russia's Sakhalin Island
Quantity:      730,000 barrels
Loading:       August
Offer closes:  June 26
Validity:      June 27
---------------------------------------------------------------

To contact the reporter on this story:
Christian Schmollinger in Singapore at
christian.s@bloomberg.net .


Read more at Bloomberg Energy News

Asian Aframax Tanker Rates Fall as Refiners Hold Back on Booking Vessels

(Bloomberg) -- The cost of shipping 80,000 metric
tons of oil on Asian routes fell 1.2 percent yesterday as
refiners held back on booking ships to transport their July oil
purchases, leaving a glut of vessels competing for business.

The rate of shipping crude or fuel oil on so-called Aframax
tankers to Singapore from Kuwait dropped to Worldscale 144.42
yesterday, according to the London-based Baltic Exchange.


Read more at Bloomberg Energy News

Hynix picks banks for $500 million bond-source

(Reuters) - Fitch Ratings on Tuesday assigned a "BB" rating to Hynix's
proposed $500 million senior unsecured note offering due 2017.




The deal's roadshow will kick off in Hong Kong and Los
Angeles on June 15 and move to Singapore and Boston on June 18,
followed by London and New York on June 19, the source said.


Read more at Reuters.com Bonds News

Singapore's Stocks Drop a Third Day, Longest Losing Streak in Three Months

(Bloomberg) -- Singapore's stocks fell for a third
day, the longest losing streak in three months, after a bigger-
than-expected increase in U.S. labor costs heightened concern
interest rates will be raised in the world's largest economy.

Keppel Corp. and Singapore Exchange Ltd. led a retreat by
the city-state's largest companies on concern higher rates will
erode the attraction of stocks for global investors.


Read more at Bloomberg Stocks News

U.S. recruitment firm Kelly Services taps China mkt

(Reuters) - It would not disclose how much it had paid for the Singapore
company but said the acquisition would enable it to do executive
search, middle-management placement and temporary and contract
staffing in China.




"We've got a number of multinational clients worldwide who
are finding it difficult to find talent in China and want to use
a recruitment company that has integrity," Dhiren Shantilal,
Kelly Services' senior vice president for the Asia-Pacific, said
by telephone.


Read more at Reuters.com Mergers News