Slower global growth means new risks - World Bank

(Reuters) - Slower global economic growth has increased risks for developing countries, especially if the record levels of private capital that has flowed into these markets is reversed, the World Bank said on Tuesday.

In its annual Global Development Finance report, the bank said higher interest rates and emerging capacity constraints would slow the rapid growth of developing countries, with global growth falling to around 3.5 percent in 2009 from 4 percent in 2006.


Read more at Reuters Africa

Brazil, Colombia and Peru: Latin American Local-Currency Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American local bonds
today. Bond yields are from the previous session.

Brazil: Brazilian economists lowered their 12-month
inflation forecast as a rally in the currency brought down the
cost of imported goods.


Read more at Bloomberg Bonds News

Korea Gas, Oman Form Venture to Jointly Trade, Store Liquefied Natural Gas

(Bloomberg) -- Korea Gas Corp., the world's largest
buyer of liquefied natural gas, said it will form a joint venture
with the Sultanate of Oman to trade and store LNG.

The two partners will hold equal stakes in the venture,
which will have a share capital of $10 million, the Seongnam,
South Korea-based company said in an e-mailed statement today. It
didn't say where the storage facility will be built.


Read more at Bloomberg Energy News

European Confidence in Economy Probably Stayed Close to 6-Year High in May

(Bloomberg) -- Europeans' confidence in the economy
probably remained close to a six-year high in May and
manufacturing growth accelerated as companies invested and hired
workers to meet orders, surveys of economists show.

An index of sentiment among executives and consumers in the
euro region probably stayed at 111 after reaching a six-year high
of 111.1 in March, the median of 21 forecasts in a Bloomberg News
survey showed. The European Commission will publish the report on
May 31. A gauge of manufacturing expansion, to be published on
June 1, may have risen to 55.5 from 55.4, another survey showed.


Read more at Bloomberg Bonds News

Embraer, Falabella, Movilaccess, Sanluis: Latin America Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile 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

European Confidence Probably Stayed Close to a Six-Year High on Investment

(Bloomberg) -- Europeans' confidence in the economy
probably remained close to a six-year high in May and
manufacturing growth accelerated as companies invested and hired
workers to meet orders, surveys of economists show.

An index of sentiment among executives and consumers in the
euro region probably stayed at 111 after reaching a six-year high
of 111.1 in March, the median of 21 forecasts in a Bloomberg News
survey showed. The European Commission will publish the report on
May 31. A gauge of manufacturing expansion, to be published on
June 1, may have risen to 55.5 from 55.4, another survey showed.


Read more at Bloomberg Currencies News

Thailand Current Account Surplus Probably Narrowed From Record on Imports

(Bloomberg) -- Thailand's current account surplus
probably narrowed from a record in April as imports of machinery
and raw materials recovered from the slowest growth in almost a
year, countering an increase in exports.

The surplus narrowed to $137 million from a $2.26 billion
excess in March, according to the median estimate of 10
economists surveyed by Bloomberg. That would be the smallest
excess since a deficit in July. The current account data is
scheduled for release by the Bank of Thailand on May 30 at 2:30
p.m. in Bangkok.


Read more at Bloomberg Emerging Markets News

Indofood Sukses Raises Instant Noodle Prices for First Time in Three Years

(Bloomberg) -- PT Indofood Sukses Makmur, the world's
biggest instant-noodle maker, raised prices of the staple for the
first time in more than three years after wheat and palm oil
costs rose.

The Indonesian company raised the price by 50 rupiah (1 U.S.
cent) a pack on all its noodles packs yesterday, said Weryanti
Setiawan, head of investor relations at the company. That raised
the price of the best-selling Indomie Rasa Kari Ayam by 5 percent
to 1,050 rupiah, while Indomie Mi Goreng rose 5.5 percent to 950
rupiah.


Read more at Bloomberg Commodities News

MDS, Mallinckrodt Uranium Use Might Mean a Nuclear Nightmare, Schumer Says

(Bloomberg) -- Fifteen al-Qaeda commandos surround a
Canadian nuclear facility that makes isotopes for use in
pharmaceuticals, laying down a barrage of fire with AK-47
assault rifles and rocket-propelled grenades.

Accomplices inside the plant trigger explosions as a
diversion while the terrorists blow up the fence surrounding the
facility. Within minutes, they're inside, loading up U.S.-
supplied, highly enriched uranium. And the world suddenly has a
new nuclear power.


Read more at Bloomberg Exclusive News

G Steel, EXIM Bank, ICICI Bank, Nissan Motor Plan Sales: Asia Bond Alert

(Bloomberg) -- The following is a list of bond sales
in Asia expected in the coming days and weeks.

Investment Grade


Read more at Bloomberg Bonds News

Australian Mining Stocks Rise, Led by BHP Billiton, Rio Tinto; Coles Drops

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, fell 0.06 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange fell 4.00 to 6,247.40. Among the stocks in the index, 47
rose, 69 fell and 85 were unchanged.


Read more at Bloomberg Stocks News

Crude Oil Trades Little Changed After Falling on End of Strike in Nigeria

(Bloomberg) -- Crude oil was little changed in New
York after falling yesterday as the end of a two-day strike by
Nigerian oil workers reduced the risk of further supply cuts and
as holidays in the U.S. and Europe lowered trading volumes.

More than 6,000 workers of the state-owned Nigerian
National Petroleum Co. went back to work May 26, ending a strike
that threatened to slow exports from Africa's biggest oil
producer. Brent crude oil, the benchmark for Nigeria's exports,
dropped 1.4 percent yesterday to close below $70 a barrel for
the first time in four days.


Read more at Bloomberg Commodities News

Dollar May Advance Against Yen on Strengthening U.S. Consumer Confidence

(Bloomberg) -- The dollar may gain against the yen on
a report that's forecast to show consumer confidence in the
world's biggest economy is improving, making a Federal Reserve
interest-rate cut less likely.

The yen traded near a three-month low before government
figures that will probably show retail sales fell for a second
month in April, making it more difficult for the Bank of Japan to
raise borrowing costs. The dollar has gained 1.9 percent this
month versus the yen as traders pared bets the rate spread with
Japan will narrow.


Read more at Bloomberg Currencies News

New Zealand Dollar May Rise on Prospect of Interest-Rate Boost Next Week

(Bloomberg) -- New Zealand's dollar may rise on
speculation Reserve Bank Governor Alan Bollard could raise
interest rates as soon as next week.

The chance of a quarter-point rise in the benchmark interest
rate at the June 7 review rose to 22 percent yesterday from 18
percent last week, according to an index calculated by Credit
Suisse. Yesterday, economists at Westpac Banking Corp. said they
expect a rate increase because of inflation pressures.


Read more at Bloomberg Currencies News

UPDATE 1-Quebec seeks to end budget impasse, avoid election

(Reuters) - MONTREAL, May 28 - Quebec's Finance Minister
said on Monday she will do everything possible to resolve a
budget impasse that risks bringing down the minority Liberal
government and forcing a provincial election in July.




"I will do everything to avoid such an election," Monique
Jerome-Forget said during a luncheon speech.


Read more at Reuters.com Bonds News

Mexican 10-Year Bond Yields Drop to Four-Week Lows on Slowing Inflation

(Bloomberg) -- Mexican 10-year bond yields fell to
four-week lows on expectations slowing inflation will boost the
allure of peso-denominated assets.

Investors ``are expecting that we are going to see a second
straight month of falling consumer prices,'' said Octavio
Gutierrez, a fixed-income analyst in Mexico City at Banco Bilbao
Vizcaya Argentaria's Bancomer unit. ``The worst part of the
inflation surge is probably behind us.''


Read more at Bloomberg Bonds News

Rand softer vs dollar, data to give direction

(Reuters) - South Africa's rand eased slightly versus the dollar on Monday in muted trade due to holidays in London and New York, while local players paused for an array of data to give the market fresh direction.

The rand was at 7.10 to the dollar at around 1730 GMT, down 0.23 percent from its previous New York close of 7.0840.


Read more at Reuters Africa

African economies grow, but prosperity elusive - UN

(Reuters) - Economic growth in Africa continues to accelerate at a faster pace than in the developed world but the world's poorest continent is still struggling to improve the lives of its people, a United Nations report found.

The United Nations 2007 mid-year World Economic Situation and Prospect report found that growth in Africa is likely to average six percent in 2007, compared with world gross domestic product growth of 3.4 percent this year.


Read more at Reuters Africa

U.A.E. Shares Fall, Led by Emaar, National Bank of Abu Dhabi: Gulf Stocks

(Bloomberg) -- Stocks in the United Arab Emirates
declined, paced by Emaar Properties PJSC and National Bank of Abu
Dhabi PJSC.

The Dubai Financial Market General Index fell 1.6 percent to
4408.32. The Abu Dhabi Securities Market Index lost 1 percent to
3597.78, ending a six-day winning streak. Abu Dhabi's index has
jumped 18 percent while Dubai's benchmark has gained 15 percent
this month.


Read more at Bloomberg Stocks News

Metal Stocks Rise in Europe, Asia; BHP, Arcelor Mittal Pace the Advance

(Bloomberg) -- Metal stocks rose in Europe and Asia
after copper rallied by the daily limit in Shanghai. BHP Billiton
Ltd., the world's largest mining company, and Arcelor Mittal, the
biggest steelmaker, paced the advance.

``It's clear that demand remains strong and that certainly
is an influence on the share prices,'' said Eric Taze-Bernard,
who oversees $1.3 billion as chief investment officer at Invesco
Gestion in Paris. ``Earnings will be less cyclical. That means a
re-rating of the industry'' to higher valuations.


Read more at Bloomberg Stocks News

India Government Bonds Gain After Central Bank Refrains From Draining Cash

(Bloomberg) -- India's bonds rose, pushing yields to
the lowest in more than a month, after the central bank
refrained from selling debt for a second week to drain funds
from the banking system.

The Reserve Bank of India probably held back from absorbing
cash after annual inflation slowed to an eight-month low, said
K.P. Suresh Prabhu, head of fixed-income at HDFC Bank Ltd.
Inflation, which reduces the value of returns on fixed-income
securities, had reached a two-year high in the week to Jan. 27,
fuelled by surplus funds in the system.


Read more at Bloomberg Bonds News

Stocks Rise in Europe, Asia on Metal Prices; BHP, Arcelor Mittal Advance

(Bloomberg) -- Stocks rose in Europe and Asia paced
by metal producers after copper rallied by the daily limit in
Shanghai. BHP Billiton Ltd., the world's largest mining company,
and Arcelor Mittal, the biggest steelmaker, paced the advance.

``With China's demand increasing and few prospects for
substantial supply growth, there's not much danger of a worsening
commodities market,'' said Yasuhiro Kunii, who helps manage about
$38 billion at Dai-Ichi Mutual Life Insurance Co. in Tokyo.


Read more at Bloomberg Stocks News

Italian Stocks Rise, Paced by Monte dei Paschi, Generali, Gemina Shares

(Bloomberg) -- Italian stocks advanced, led by Banca
Monte dei Paschi di Siena SpA. The president of the bank's
largest shareholder told Corriere della Sera yesterday that the
company may chose a ``merger partner'' this summer. Assicurazioni
Generali SpA shares also climbed.

The S&P/MIB Index gained 166, or 0.4 percent, to 43,185 at
10:10 a.m. in Milan. Two stocks rose for each one that fell.
Futures expiring in June rose 151, or 0.4 percent, to 43,265.


Read more at Bloomberg Stocks News

Russian Market Rallies Second Day, Led by Mobile TeleSystems, Novolipetsk

(Bloomberg) -- Russian stocks climbed for a second
day, led by OAO Mobile TeleSystems and OAO Novolipetsk Steel.

The ruble-denominated Micex Index added 0.6 percent to
1590.66 at 10:50 a.m. in Moscow. The dollar-denominated RTS Index
rose 0.2 percent to 1797.51.


Read more at Bloomberg Stocks News

Australian Dollar Rebounds After Failing to Drop Below Key Technical Level

(Bloomberg) -- The Australian dollar snapped two days
of losses and may resume this year's appreciation after it failed
to drop below a level on technical charts traders watch to
predict price movements.

The currency was at 81.92 U.S. cents at 4:50 p.m. in Sydney
compared with 81.80 cents late in New York May 25, taking gains
for the year to 3.9 percent. A 0.6 percent decline last week held
above a May 4 low of 81.71, the weakest since April 10.


Read more at Bloomberg Currencies News