Bank of Israel Reduces Key Interest Rate a Quarter-Point to 3.75 Percent

(Bloomberg) -- The Bank of Israel lowered its benchmark lending rate by a quarter-point and signaled further cuts as five earlier reductions failed to spark a depreciation of the shekel and boost inflation to the government's target range.

The rate the central bank charges commercial lenders was lowered to 3.75 percent as of April 26, the Jerusalem-based bank said in a statement. Ten out of 11 economists surveyed by Bloomberg last week had forecast the 25-basis point reduction, with the one saying the rate would remain unchanged.


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U.S. Congress set to defy Bush on Iraq war

(Reuters) - Bush has promised to veto any bill setting dates for removing U.S. combat soldiers from the Iraq war, now in its fifth year.

But when a Democratic-controlled panel of Senate and House of Representatives members meets on Monday to iron out differences between their respective bills, the product is expected to contain 2008 withdrawal dates.


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Persistent shortages should push nickel higher

(Reuters) - "For nickel, we're likely to see upside price risk for the next two quarters with some of the price pressures alleviated by the end of the year," Jason Schenker, economist at Wachovia Corp. told secondary metal market participants at the Institute of Scrap Recycling Industries' spring conference.

Schenker forecast a 2007 average benchmark London Metal Exchange nickel price of $43,309 a ton, slipping to a $36,000 average in 2008 with the addition of new supply.


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Virginia Tech pays respects to victims, and gunman

(Reuters) - A small tribute to Seung-Hui Cho, who shot his victims then himself on Monday, has been added to a growing memorial of stones in the center of the sprawling university in southwest Virginia.

"I just wanted you to know that I am not mad at you. I don't hate you," read a note among flowers at a stone marker labeled for Cho. "I am so sorry that you could find no help or comfort."


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UPDATE 1-Private equity joins hedge funds on EU risk radar

(Reuters) - BERLIN, April 21 - European Union finance ministers may target private equity funds as well as hedge funds in their drive to tighten regulations to shore up the financial system against financial crises, a document showed on Saturday.

"There is a need for great vigilance in enforcing existing provisions on market abuse in order to sustain market integrity and confidence in private equity business," the document, discussed by ministers at meetings in Berlin, said.


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U.S. Treasuries Post Biggest Gains Since March on Slower Rate of Inflation

(Bloomberg) -- U.S. 10-year Treasuries gained the most since early March as traders raised bets the Federal Reserve may cut interest rates this year amid easing inflation pressures.

Treasuries snapped four weeks of losses as a government report on April 17 showed prices excluding energy and food rose less than economists forecast last month. Separate data showed manufacturing stalled and claims for unemployment benefits were more than analysts predicted, suggesting a softer economy.


Read more at Bloomberg Bonds News

Central African Republic, Paris Club in debt deal

(Reuters) - The Paris Club of creditor countries and the Central African Republic have reached agreement on restructuring $36.1 million in debt, the Paris Club said on Friday.

The group said the sum covered $28.4 million of arrears and late interest and would lead to the cancellation of debt totalling $9.9 million.


Read more at Reuters Africa