Rand steady, eyes stocks, GDP data

(Reuters) - South Africa's rand was steady on Tuesday and could test firmer levels as the market looks to domestic economic growth data and the return of major U.S. and European trade after Monday's holiday.

The local currency traded at 7.0975 to the dollar at 0630 GMT, little changed from the previous close of 7.10, and at around 9.53 against the euro.


Read more at Reuters Africa

Indian Rupee Near Nine-Year High as Pace of Growth May Boost Capital Flows

(Bloomberg) -- India's rupee traded near the highest
in nine years on speculation the size of capital inflows will
outweigh the central bank's efforts to stem the currency's rise.

The Reserve Bank of India has allowed the rupee to rise 7.5
percent this quarter to fight inflation. Traders yesterday said
the central bank was buying dollars to slow the currency's gains
as it makes exported goods more expensive overseas. India's
economic growth was the fastest in almost two decades in the
fiscal year ended March 31, drawing in a flood of foreign funds.


Read more at Bloomberg Currencies News

North Sea Sullom Voe Oil Terminal Resumes Loading as Strong Winds Subside

(Bloomberg) -- The North Sea Sullom Voe terminal,
one of Europe's largest oil and gas facilities, resumed loading
operations after strong winds subsided, according to the
Shetland Islands Council.

The resumption, posted on the Shetland Islands Council Web
site at 9 p.m. local time yesterday, followed what was at least
the 22nd disruption this year.


Read more at Bloomberg Energy News

European Government Bonds May Drop on Economic Growth, ECB Rate Prospects

(Bloomberg) -- European government bonds may extend
declines on speculation strength in the 13-nation economy will
prompt the European Central Bank to raise interest rates further.

Benchmark two-year yields last week held near a five-year
high, falling for a third week, as investors added to bets the
European Central Bank will lift interest rates at least twice
more this year. The ECB earlier this month signaled it will raise
rates in June. Executive Board member Lorenzo Bini Smaghi said
May 24 low inflation is the ``best contribution'' central banks
can make to the economy.


Read more at Bloomberg Bonds News

Brazilian Breast Implant, `Butt-Lift' Bargains Entice Americans, Europeans

(Bloomberg) -- Brazil's Ivo Pitanguy is one of plastic
surgery's founding fathers. The surgeon, 80, has performed face-
lifts, breast enhancements and other operations on thousands of
patients. He has taught more than 600 cosmetic surgeons, who are
practicing in at least 43 countries, and is the inventor of
procedures reproduced around the globe, including techniques for
minimizing scarring, and the ``Brazilian butt-lift,'' in which
flesh is added to a patient's behind to make it rounder.

``Ivo Pitanguy created plastic surgery as we know it today,''
says Bryan Mendelson, president of the International Society of Aesthetic
Plastic Surgery, or ISAPS, a Hanover, New Hampshire-based organization
with 1,600 members in 90 countries. ``He removed some of the
taboos, popularized the practice, and his legacy will live on
through his students.''


Read more at Bloomberg Currencies News

Indofood, World's Top Noodle Maker, Raises Prices as Wheat, Palmoil Surge

(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 company raised the prices by 50 rupiah (1 U.S. cent) on
all its noodle packs yesterday, Weryanti Setiawan, head of
investor relations at the company, said today. 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

South Korea's Factory Production Probably Accelerated, Stoked by Exports

(Bloomberg) -- South Korea's industrial output
probably expanded at the fastest pace in three months in April,
stoked by increased overseas shipments.

Manufacturing production advanced 1 percent from March,
when it fell 0.4 percent, according to the median estimate in a
Bloomberg News survey of 11 economists. The National Statistical
Office will release the report tomorrow at 1:30 p.m. in Seoul.


Read more at Bloomberg Emerging Markets News

Panama economy grew 8 pct in Q1 - govt

(Reuters) - January-March growth was at the top end of a recent
government forecast.




Read more at Reuters.com Economic News

Japan Stocks Climb, Led by Banks on Spending, Jobs Data; Shipowners Gain

(Bloomberg) -- Japanese stocks rose after reports
showed the nation's jobless rate unexpectedly fell to a nine-
year low and households increased spending for a fourth month in
April.

Lenders such as Mizuho Financial Group Inc. gained on
speculation the improving economic data will allow the Bank of
Japan to raise borrowing costs and lenders to increase their
profit margins.


Read more at Bloomberg Stocks News

Japan's Topix Index Rises; Mizuho Financial, Mitsui O.S.K. Lines Lead Gain

(Bloomberg) -- Japan's Topix index rose 5.45, or 0.3
percent, to 1729.83 at 9:54 a.m. in Tokyo after falling as much
as 0.3 percent. The Nikkei 225 Stock Average was little changed
at 17,585.70.

Mizuho Financial Group Inc. and Mitsui O.S.K. Lines Ltd.
led the advance.


Read more at Bloomberg Stocks News

South Korea's Kospi Index Rises, Led by LG.Philips and Shinhan Financial

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.14 percent at 9:05 a.m.

The index of 732 companies traded on the Korea Exchange rose
2.34 to 1,660.25. Among the stocks in the index, 396 rose, 145
fell and 190 were unchanged.


Read more at Bloomberg Stocks News

UPDATE 1-Pogo Producing to sell Northrock for $2 billion

(Reuters) - Northrock, which includes properties located largely in
Alberta, Saskatchewan and the Northwest Territories of Canada,
produces about 29,000 barrels of oil equivalent per day. It had
about 706 estimated proven reserves as of December 31.




The deal is expected to close in the third quarter. Pogo
said Goldman Sachs Group and TD Securities Inc. would continue
to serve as its financial advisers as it explores other
strategic options.


Read more at Reuters.com Mergers News

Pogo Producing to sell Northrock for $2 billion

(Reuters) - The deal is expected to close in the third quarter. Pogo said Goldman Sachs Group and TD Securities Inc. would continue to serve as its financial advisers as it explores other strategic options.




Read more at Reuters.com Business News

Venezuela's Bolivar Weakens as TV Network Shutdown Sparks Street Protests

(Bloomberg) -- Venezuela's currency fell from a two-
week high in unregulated markets after President Hugo Chavez's
shutdown of the country's most-watched TV network triggered
street protests.

``Things took a swift turn in the afternoon when street
protests increased,'' said Nelson Corrie, head of trading at
Caracas-based Interacciones Mercado de Capitales.


Read more at Bloomberg Currencies News

Corn, Soybeans May Rise in Chicago as Dry Weather Threatens U.S. Crops

(Bloomberg) -- Corn may rise for a third straight
week in Chicago and soybeans may reach a three-year high on
speculation that hot, dry weather from Illinois to Georgia will
damage the two biggest U.S. crops.

Thirteen of 25 traders, farm advisers and merchants
surveyed on May 25 recommended buying both commodities. The rest
said to sell, noting that some forecasters are calling for more
rain. Corn futures for July delivery rose 1.3 percent last week
to $3.76 a bushel on the Chicago Board of Trade. Soybeans for
July delivery rose 2.5 percent to $8.125 a bushel, the highest
weekly close since June 2004.


Read more at Bloomberg Commodities News

CORRECTED-UPDATE 1-Bush should be open to climate deal - Pelosi

(Reuters) - BERLIN, May 28 - U.S. House of Representatives
Speaker Nancy Pelosi urged President George W. Bush on Monday to
forge a compromise with other G8 countries on plans to fight
climate change at a summit in Germany next week.




The head of the opposition Democrats said she and a
bipartisan delegation of congressional leaders had visited
Greenland and seen how global warming was threatening the
livelihood of people who were not to blame.


Read more at Reuters.com Bonds News

S.African stocks up, boosted by Telkom

(Reuters) - South African stocks closed marginally higher on Monday, with fixed line telecommunications firm Telkom one of the biggest gainers among the blue-chip top 40 stocks.

"Trade has been dull today, with volumes extremely light because of UK and U.S. public holidays, which just shows how involved foreigners are in our market," a Johannesburg-based trader said.


Read more at Reuters Africa

Canada Liberals demand pause in foreign takeovers

(Reuters) - Ottawa should "hold back decisions on major foreign
acquisitions and any changes to foreign ownership rules until
after this process has been completed," Dion said in a
statement.




The proposal comes amid concern that several big Canadian
companies were being taken out of local hands.


Read more at Reuters.com Mergers News

French Stocks Including Michelin Gain; Total and Technip Decline With Oil

(Bloomberg) -- French stocks including Michelin &
Cie. and Cie. de Saint-Gobain advanced after crude oil fell in
New York. Total SA and Technip SA declined.

The CAC 40 Index was little changed at 6057.40 at 3:24 p.m.
in Paris. The SBF 120 Index also was little changed.


Read more at Bloomberg Stocks News

Rupee Rises to Nine-Year High on Speculation Global Funds to Buy Shares

(Bloomberg) -- India's rupee advanced to a nine-year
high on speculation overseas investors will buy stocks of local
companies offering shares in the coming weeks.

The currency rose for a second day, breaching 40.50 for the
first time since May 1998, as global funds bought $3.7 billion
more of Indian stocks than they sold this year as of May 24,
surpassing $2.9 billion of purchases in the same period last year,
according to data compiled by Bloomberg. DLF Ltd., a New Delhi-
based real-estate developer, plans to sell as much as $2.4 billion
of shares through an initial public offering starting June 11.


Read more at Bloomberg Currencies News

French Stocks Including Michelin Gain as Oil Drops; Gaz de France Declines

(Bloomberg) -- French stocks including Michelin &
Cie. and Cie. de Saint-Gobain advanced after crude oil fell in
New York. Gaz de France SA declined.

The CAC 40 Index slipped 3.33, or 0.1 percent, to 6054.16 at
12:19 p.m. in Paris. The SBF 120 Index was little changed.


Read more at Bloomberg Stocks News

Israeli Shahar Bond Advances on Expectations Bank Will Cut Key Rate Today

(Bloomberg) -- Israel's benchmark Shahar bond gained
for a second day on speculation the Bank of Israel will cut
interest rates today in order to lift inflation to the government
target range of between 1 percent to 3 percent.

The central bank has lowered its key lending rate 1.75
percent since the end of October to 3.75 percent as it seeks to
weaken the shekel. The shekel has appreciated 4 percent so far in
the second quarter from the first three months of the year,
spurring higher prices for housing and other dollar-linked items.


Read more at Bloomberg Bonds News

Malaysia oil pipeline project moves toward reality

(Reuters) - The 310 km pipeline aims to cut time and costs
by bypassing the crowded Malacca Strait, but observers have
been skeptical as similar ventures for a Southeast Asian
shipping short-cut over the past few decades have failed to
materialize.




Compounding these doubts is the fact that the pipeline
project is being developed by a small, loss-making company
owned by two little-known Malaysian businessmen.


Read more at Reuters.com Business News

Nordic Shares Climb, Paced by Swedish Match and Volvo; Shares of OMX Rise

(Bloomberg) -- Nordic stocks rose, led by Swedish
Match AB, the world's second-largest maker of smokeless tobacco
products, and Volvo AB, Europe's second-largest truckmaker.

OMX AB gained after the Sunday Times reported the Nordic
region's biggest stock exchange operator may receive a counterbid
from Dubai.


Read more at Bloomberg Stocks News

Oman Oil to Boost Qarn Alam Field Oil, Gas Output Through Steam Injection

(Bloomberg) -- Petroleum Development Oman, a state-
owned company in which Royal Dutch Shell Plc is the largest
foreign investor, signed two agreements to increase output from
the aging Qarn Alam oil and gas field through steam injection.

Dodsal Group, an Indian construction company based in the
United Arab Emirates, will drill 150 wells and build a water
treatment plant at Qarn Alam, Petroleum Development Oman said in
a statement late yesterday.


Read more at Bloomberg Energy News