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MUMBAI: The Indian rupee climbed to a 5-month high on Wednesday boosted by rising dollar inflows into equities, and traders said it could further appreciate if the euro extended gains. Data from the market regulator showed foreign funds bought $2.5 billion of shares since the start of March, after being net sellers in January and [...]

June 11 (Reuters) – Kansas City Fed President Thomas Hoenig said he supports a proposal to spin off banks’ derivatives trading desks advocated by Senator Blanche Lincoln. Global Markets | Funds News | ETFs News | Financials Hoenig expressed his support for the so-called Lincoln proposal in a letter to the Senator dated June 10. [...]

JOHANNESBURG, June 10 (Reuters) – Shares in MTN Group (MTNJ.J), Africa’s biggest mobile phone operator, rose over four percent on Thursday after the collapse of talks with Egypt’s Orascom Telecom (ORTE.CA) about a potential acquisition. MTN and Orascom Telecom said in separate statements on Wednesday that talks had been called off, sinking a deal that [...]

(Reuters) – Nelson Mandela, 91-year-old former South African president, firmly intends to make a brief appearance at Friday’s World Cup opening match, organizers and his family said on Thursday. Sports But World Cup chief Danny Jordaan told reporters the decision on whether Mandela will appear at Soccer City for South Africa’s encounter with Mexico would [...]

June 10 (Reuters) – Singapore sovereign wealth fund GIC is looking to launch an initial public offering of its logistics business in China and Japan close to the fourth quarter, which could raise at least S$1 billion ($707 million), sources close to the deal told Reuters on Thursday. JPMorgan (JPM.N) and Citigroup (C.N) are advising [...]

June 10 (Reuters) – India’s federal cabinet on Thursday deferred a decision to sell stake in state-run Coal India and miner Hindustan Copper Ltd (HCPR.BO), Mines Minister B.K. Handique told reporters. India is planning to sell stake in the two firms as part of a plan to offload holdings in 60 state firms in coming [...]

June 10 (Reuters) – The Economy Ministry said on Thursday the bids from non-residents in Spain’s 3-year bond auction accounted for well over 50 percent of the total. “The bids from non-residents were well above 50 percent of total demand,” an Economy Ministry spokesman said. (Reporting by Manuel Ruiz; writing by Judy MacInnes)

JOHANNESBURG, June 10 (Reuters) – South Africa’s No.2 banking group FirstRand (FSRJ.J) forecast a rise in annual profit on Thursday as fewer customers defaulted on home and vehicle loans. FirstRand said it expected headline earnings per share for the year to end-June to be 27-37 percent higher, thanks mainly to a recovery at its Wesbank [...]

Malaysia, June 10 (Reuters) – Malaysia will continue with policies to help the majority ethnic Malays but will not overlook the other races, Cconomic Planning Minister Nor Mohamed Yakcop said on Thursday. “The (bumiputra) agenda will continue, but it’s not that it’s either or; the government will also help other communities,” he told Reuters in [...]

June 10 (Reuters) – Reliance Industries (RELI.BO), India’s biggest listed company, is looking to enter the telecoms market when the opportunity arises, with a focus on selling phone and Internet services to companies, the Economic Times reported on Thursday, citing two unnamed sources. It said the energy-based conglomerate controlled by billionaire Mukesh Ambani may look [...]

June 10 (Reuters) – South African gold output fell 6.2 percent in volume terms and total mineral production rose 2.7 percent in April compared with the same month in the previous year, official data showed on Thursday. Basic Materials Production of non-gold minerals rose 4.0 percent, Statistics South Africa said on its website www.statssa.gov.za South [...]

June 10 (Reuters) – India’s monsoon rains were normal in the week to June 9, the weather office said on Thursday. The monsoon, vital for farm output in India’s trillion-dollar economy, had hit the country’s southern coast on May 31, a day ahead of its usual date. For full monsoon coverage, double click [ID:nSGE6510I2]. (Reporting [...]

West Bank (Reuters) – The prospect of Israel easing its blockade of Gaza has generated new pressure on Fatah and Hamas to end their feud, but the chances of the rival factions restoring Palestinian unity soon appear faint. World Turkey, seeking to build on the kudos it has won among Arabs for challenging the blockade, [...]

RAMLALLAH, West Bank, June 10 (Reuters) – The prospect of Israel easing its blockade of Gaza has generated new pressure on Fatah and Hamas to end their feud, but the chances of the rival factions restoring Palestinian unity soon appear faint. Turkey, seeking to build on the kudos it has won among Arabs for challenging [...]

(Reuters) – Malaysia’s Boustead Holdings (BOUS.KL) * says to sign acquisition with Malaysian builder UEM Group. * says to undertake major material acquisition Industrials * says press conference on acquisition to be held on Friday, 10.00am (0200 GMT) * Boustead shares halted pending the announcement. Boustead last traded up 1.1 percent at 3.58 ringgit. (Reporting [...]

June 10 (Reuters) – A South Korean space rocket carrying a scientific satellite crashed two minutes into the flight on Thursday in the second failure in two tries to put a payload in orbit, YTN television said. Mission control lost signal of the rocket at 137 seconds into the flight, the country’s spy agency chief [...]

June 10 (Reuters) – FirstRand Ltd (FSRJ.J): * Says revenue from banking activities remained under pressure * Says net interest income in particular continued to be subdued as a result of low levels of borrowing * Says corporate lending also remained at relatively low levels * Says bad debts have continued to reduce in line [...]

June 10 (Reuters) – Singapore Telecommunications (STEL.SI) said on Thursday its CEO for international operations Lim Chuan Poh will retire at the end of this year. Telecommuncations Services Lim, who joined SingTel in 1998 and was appointed CEO International in 2006, is in charge of SingTel’s international affiliates, which include large stakes in India’s Bharti [...]

(Reuters) – The Security Council’s approval of a fourth round of U.N. sanctions on Iran on Wednesday is a key victory for the Obama administration but the steps are unlikely to halt Tehran’s nuclear program. World The 15-nation council passed a resolution that was the product of five months of talks between the United States, [...]

(Reuters) – Following are security developments in Iraq at 0915 GMT on Thursday. BAGHDAD – Two civilians were wounded when a bomb exploded outside a liquor store in Baghdad’s northern Shaab district, police said. BAGHDAD – A roadside bomb exploded as an SUV convoy passed in the northern outskirts of Baghdad, wounding two civilians, police [...]