India's Rupee Pares Gain of as Much as 0.8 Percent on Central Bank Sales

(Bloomberg) -- India's rupee pared gains of as much
as 0.8 percent on speculation the central bank sold the currency
after it rose to a nine-year high.

The currency traded at 40.57 a dollar as of 12:04 p.m. in
Mumbai, after reaching 40.285, the highest since May 1998. It
closed at 40.5925 on May 25, according to data compiled by
Bloomberg.


Read more at Bloomberg Currencies News

Venezuela Takes Over Most-Watched TV Network as Police, Protesters Clash

(Bloomberg) -- Venezuela's new state television
channel TVes took control of the country's most-watched network
as protesters accused President Hugo Chavez of seeking to stamp
out voices of opposition to his government.

The new channel began transmitting at 12:00 a.m. local time
(12:00 a.m. New York time), prompting celebrations by Chavez
supporters gathered in Caracas's Morelos Square. Workers at
Radio Caracas Television, shut after Chavez refused to renew its
license, left the channel's Quinta Crespo facilities amid tears
and pledges to fight the decision peacefully and in the courts.


Read more at Bloomberg Currencies News

Palm Oil Rises to Record in Malaysia on Concern Supply Won't Meet Demand

(Bloomberg) -- Palm oil futures in Malaysia rose to
a record on optimism supply won't keep up with increasing demand
from China, the world's biggest importer.

China's imports of the vegetable oil rose 27 percent to 1.6
million metric tons in the first four months of the year, May 25
data from the Beijing-based customs office showed. Shipments
from Malaysia are set for a fourth monthly rise, according to
data released on the same day by independent cargo surveyor
Societe Generale de Surveillance.


Read more at Bloomberg Commodities News

Fortis, Befimmo, Payton Planar, Retail Estates: Benelux Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Benelux markets. Stock symbols are in parentheses after
company names and prices are from the last close.

The Amsterdam Exchanges Index lost 0.51, or 0.1 percent, to
535.48. Belgium's Bel20 Index fell 32.84, or 0.7 percent, to
4671.71. Luxembourg's LuxX Index declined 1.2 percent to 2495.72.


Read more at Bloomberg Stocks News

South Korean Won Declines on North's Missile Test; Taiwan Dollar Rises

(Bloomberg) -- South Korea's won led losses in the
Asia-Pacific region after North Korea test-fired missiles late on
May 25, raising the prospect of sanctions on the communist nation.

The short-range missiles were launched after the close of
won trading in South Korea on May 25. Japanese Prime Minister
Shinzo Abe said his country's patience ``isn't limitless'' and
retains the option of further sanctions. The won slid 1.5 percent
on Oct. 9 after the North tested its first nuclear bomb.


Read more at Bloomberg Currencies News

Indofood Agri Shares Rise After $1 Billion Bid for Rival Palm Oil Grower

(Bloomberg) -- Shares of PT Indofood Agri Resources,
the palm oil unit of the world's top instant noodle maker, rose
after the company agreed to buy rival PT Perusahaan Perkebunan
London Sumatra Indonesia for 9.1 trillion rupiah ($1 billion).

Stock in the Singapore-listed group gained as much as 4.7
percent, to $1.33, and traded at S$1.29 at 10:13 a.m. Indofood
will buy 64.4 percent of London Sumatra from First Durango
Singapore Pte. and other shareholders at 6,500 rupiah a share,
and offer 6,900 rupiah for the rest of the stock, it said May 26.


Read more at Bloomberg Emerging Markets News

US-STANCHART-INDIA

(Reuters) - News of the deal was first reported by India's Economic
Times two weeks ago.




The deal, designed to complement Standard Chartered's
wealth management business in India, was expected to be sealed
within the next few months.


Read more at Reuters.com Business News

Australian Stocks Climb, Led by BHP, Rio Tinto on Metals Prices Increases

(Bloomberg) -- Australian stocks rose, led by BHP
Billiton Ltd. and Rio Tinto Group after prices of metals including
copper and zinc gained, and amid speculation of mergers and
acquisitions in the mining industry.

The S&P/ASX 200 Index climbed 36.20, or 0.6 percent, to
6289.0 as of 10:11 a.m. in Sydney. About 13 stocks gained for
every five that fell.


Read more at Bloomberg Stocks News

Australian Stocks Advance, Led by BHP Billiton on Higher Commodity Prices

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, rose 0.34 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 21.50 to 6,274.30. Among the stocks in the index,
115 rose, 59 fell and 27 were unchanged.


Read more at Bloomberg Stocks News

Japanese Yen, Malaysian Ringgit, Taiwan Dollar: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

Barron's says Progressive shares modestly valued

(Reuters) - The report also said Progressive was becoming more aggressive on pricing and premium growth.




"The Street is focused on the genuine near-term challenges. But over a multi-year horizon, Progressive's strong industry position and disciplined management should reward investors nicely," Barron's said.


Read more at Reuters.com Business News

Congo needs new budget to start recovery

(Reuters) - Congo's parliament must approve a long-delayed 2007 budget quickly if the central African nation is to get back on its feet after decades of mismanagement and war, budget minister Alphonse Muzito said on Saturday.

Expectations are high in Democratic Republic of Congo since polls last year elected Joseph Kabila as the country's first democratically-chosen president in more than 40 years, ending a three-year transition following a 1998-2003 war.


Read more at Reuters Africa

FACTBOX-Debate over global warming link to hurricanes

(Reuters) - Recent climate studies suggest that the warming of the tropical Atlantic and Caribbean is due to the increase in greenhouse gas emissions, and that these warmer waters fuel development and intensification of hurricanes, NOAA says.




Warmer sea surface temperatures and moister air provide more energy for showers and thunderstorms that feed hurricanes, pushing more of them into the extreme category, according to computer models cited by the nongovernmental National Center for Atmospheric Research.


Read more at Reuters.com Bonds News