India's Jaiprakash Hires Barclays for $400 Million Convertible Bond Sale

(Bloomberg) -- Jaiprakash Associates Ltd., India's
biggest builder of dams, hired Barclays Capital to sell as much
as $400 million of convertible bonds, according to an e-mail sent
to investors.

The company plans to allow investors to convert the five-
year zero-coupon bonds into its shares at a premium of 45 percent
to 50 percent to the volume-weighted average price today, the e-
mail shows. Barclays Capital will offer $300 million of the
securities and can increase the sale by $100 million.


Read more at Bloomberg Bonds News

Asian Currencies: Thai Baht Advances to Decade High; Taiwan Dollar Drops

(Bloomberg) -- Thailand's baht gained, heading for
the highest close in almost a decade in onshore and offshore
markets, as global funds bought more of the nation's equities.

The currency also gained as companies convert overseas
earnings to take advantage of its appreciation. Prime Minister
Surayud Chulanont today said the government is trying to
stabilize the baht to help exporters. It has stopped short of
tightening curbs on foreign investment, which created the dual
exchange rate system when they were introduced in December.


Read more at Bloomberg Currencies News

Singapore Dollar May Be Next Carry Trade Funding Currency, Citigroup Says

(Bloomberg) -- Singapore's dollar may be an
``attractive'' currency to fund carry trades as interest rates
fell below those of the Taiwan dollar, previously widely borrowed
to pay for higher-yielding assets, Citigroup Inc. said.

Singapore's benchmark interest rate for lending fell to 2.5
percent from 3.4 percent at the start of this year. That's lower
than Taiwan's 3.125 percent, making it cheaper for investors to
borrow Singapore dollars to take advantage of other currencies
with higher yields.


Read more at Bloomberg Currencies News

Atlas Copco, ABN Amro, Royal Philips Electronics: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 added 0.4 percent to 399.02. The Dow
Jones Stoxx 50 Index increased 0.4 percent to 3991.91. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
advanced 0.6 percent to 4542.57.


Read more at Bloomberg Stocks News

Pakistan Stocks May Open Lower After Militants Carry Out Suicide Attacks

(Bloomberg) -- Pakistan's stocks, which have risen
since the army raided the Red Mosque on July 10, may open lower
today after militants carried out two suicide bomb attacks over
the weekend.

Forty-two people died and 110 were injured in the attacks in
Pakistan's North West Frontier Province yesterday, one day after
24 paramilitary soldiers were killed in an explosion in a region
near the Afghan border.


Read more at Bloomberg Emerging Markets News

China Refined-Copper Imports Drop Less Than Expected in June, Traders Say

(Bloomberg) -- China's copper imports, the biggest
in the world, fell 6.1 percent in June, declining less than
expected amid speculation the nation's stockpiling agency might
have bought the metal.

Refined copper and alloy imports were 121,991 metric tons
last month, the Beijing-based office said in a statement today,
citing preliminary data. This compares with 129,949 tons in May
and 69,715 tons in June 2006, according to Bloomberg data.


Read more at Bloomberg Commodities News

Singapore Stocks Rise for Third Day; Keppel, Oversea-Chinese Banking Gain

(Bloomberg) -- Singapore's stocks rose for a third
day, helping the Straits Times Index extend a record. Keppel Corp.
led gains among suppliers to the oil industry after crude prices
jumped to the highest in 11 months.

Oversea-Chinese Banking Corp. gained after the lender said
it received final approval to set up a local unit in China. DBS
Group Holdings Ltd. advanced after the Economic Daily News said
it may buy a stake in the Taiwan's Far Eastern International Bank.


Read more at Bloomberg Stocks News

New Zealand Dollar Rises to 22-Year High on Faster-Than-Expected Inflation

(Bloomberg) -- The New Zealand dollar rose to the
highest in 22 years after a government report showed prices
gained more than the central bank expected, adding to
speculation policy makers will increase interest rates.

The currency gained for a fourth day and bonds fell as the
inflation figures also beat economists' forecasts, prompting
traders to raise bets the Reserve Bank of New Zealand will
increase the cost of borrowing on July 26. New Zealand's dollar
has advanced the most among the 16 most-traded currencies in the
past 12 months as the central bank boosted rates to 8 percent.


Read more at Bloomberg Currencies News

Kia Motors, Rio Tinto, Shanghai Industrial: 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. Prices are from
the local market's last close. Stock symbols are in parentheses
after company names.

Fosun International Ltd. (656 HK): The Chinese company,
which has businesses ranging from pharmaceuticals to steel,
raised HK$11.5 billion ($1.5 billion) in an initial public
offering by selling 1.25 billion shares at HK$9.23 apiece. The
stock will start trading July 16.


Read more at Bloomberg Stocks News

New Zealand Dollar May Advance; Inflation Report Could Sway Central Bank

(Bloomberg) -- New Zealand's dollar may rise on a
report today that could show inflation isn't abating quickly,
increasing the chance the central bank will raise interest rates
and boosting demand for the currency.

Non-tradable inflation, a core measure of prices of goods
that aren't influenced by currency fluctuations and fuel costs,
probably rose 4 percent in the year ended June 30, according to
the median estimate of nine economists surveyed by Bloomberg
News. Reserve Bank Governor Alan Bollard may respond by raising
interest rates for the fourth time this year at his next review
on July 26.


Read more at Bloomberg Currencies News

Booming Tax Receipts Pare U.S. Treasury Sales as International Buyers Flee

(Bloomberg) -- Just as international investors are
reducing purchases of Treasuries, the U.S. government will be
selling fewer of them thanks to no let-up in tax receipts.

The projected 7 percent increase in tax revenue will help
the U.S. budget deficit shrink by 17 percent to about $205
billion for the fiscal year ending Sept. 30, the Bush
administration said last week. As a result, the Treasury
Department sold less securities from January through June than
matured, the first time that has happened since 2000.


Read more at Bloomberg Bonds News

Stocks to ride robust earnings wave

(Reuters) - Rising energy and food prices coupled with uneven retail sales are not likely to slow down investors as they test the market's limits. At the same time, the financial sector is expected to avoid major losses from the subprime sector.




After a week when the Dow Jones industrial average and Standard & Poor's 500 index reached record highs on mergers and acquisitions activity and multibillion-dollar blue-chip buyback plans, investors will eye profits, inflation data and the Federal Reserve for more signs of good news.


Read more at Reuters.com Hot Stocks News

Israel's ECI Telecom had further approach-paper

(Reuters) - ECI's consultant in the acquisition, Goldman Sachs,
approached various international funds to find out whether there
were other prospective buyers, and one of the funds expressed an
interest in submitting a proposal, the daily said.




The paper did not give any additional information on the
prospective buyer.


Read more at Reuters.com Mergers News