| Efes Bondholders Crying Into Their Beer on Turkish Ad Ban Posted: 27 May 2013 02:43 AM PDT The Middle East's biggest beermaker is getting hammered in the credit markets as Turkish Prime Minister Recep Tayyip Erdogan cracks down on alcohol sales and advertising. The yield on Anadolu Efes Biracilik Malt Sanayi AS's (AEFES) dollar bonds due November 2022 surged 52 basis points since May 9 to a record 3.99 percent at the end of last week as lawmakers approved legislation restricting  |
| Gold Bets Reach Five-Year Low With Prices Whipsawed: Commodities Posted: 27 May 2013 02:41 AM PDT Hedge funds are the least bullish on gold in more than five years as speculation about the pace of money printing by central banks whipsawed prices, driving volatility to a 17-month high. Money managers cut their net-long position by 9 percent to 35,686 futures and options as of May 21, the lowest since July 2007, U.S. Commodity Futures Trading Commission data show. Holdings of short contracts  |
| Qatar Telecom Raises $12 Billion to Buy Maroc Telecom, CEO Says Posted: 27 May 2013 02:40 AM PDT Qatar Telecom QSC raised $12 billion to finance its bid for a majority stake in Maroc Telecom SA as it seeks to expand through acquisitions, its chief executive officer said in an interview. Qatar Telecom, which recently changed its name to Ooredoo, plans to focus on buying telecommunication operators abroad after expanding holdings in companies in Kuwait, Iraq and Tunisia last year, Nasser  |
| China’s Li Relying on Merkel to Resolve Crisis Posted: 27 May 2013 02:39 AM PDT Chinese Premier Li Keqiang said his country will rely on Germany to lead the euro out of its crisis and boost the global economy as European leaders begin to tackle soaring unemployment after three years of budget cuts. Li, on the final stop of his first trip as Chinese leader, said the government in Beijing will continue to stand by the European Union. He said the fact that Germany was the  |
| U.K. House Prices Rise Most in Six Years on London Demand Surge Posted: 27 May 2013 02:38 AM PDT U.K. house prices rose the most in six years this month as a shortage of properties boosted values in London, according to Hometrack Ltd. Average values in England and Wales increased 0.4 percent, the biggest monthly increase since May 2007, the London-based property researcher said in a report today. London prices jumped 0.9 percent. Demand in the capital has surged 15 percent in the past  |
| Kuroda Backs Japan Bulls as Stock Slump Jolts Abenomics: Economy Posted: 27 May 2013 02:37 AM PDT Bank of Japan Governor Haruhiko Kuroda backed "bullish" views on asset markets and said the nation could cope with rising interest rates, failing to ease volatility in stocks as the Topix Index tumbled. There are no signs investors have "excessively bullish expectations," the 68-year-old Kuroda said in Tokyo yesterday. He cited an April BOJ report indicating rates could rise by between one  |
| Sweden Riots Put Faces to Statistics as Stockholm Burns Posted: 27 May 2013 02:34 AM PDT A week of riots in Stockholm has torn a hole in Sweden's image as a beacon of social harmony. In Husby, a suburb north of the capital where 60 percent of residents were born outside Sweden and unemployment is twice the national average, youths torched cars, schools and other buildings in a show of anger that has unsettled one of Europe's richest nations. The riots spread to more than 10  |
| Yen Strengthens as European Stocks Rise; Silver Gains, Oil Falls Posted: 27 May 2013 02:33 AM PDT The yen strengthened and Japanese stocks slumped as the nation's top central banker signaled higher interest rates. European shares rose for the first time in three days, while silver advanced and oil retreated. The yen climbed 0.3 percent to 101.03 per dollar at 8:17 a.m. in London. Japan's Topix Index (TPX) declined 3.4 percent, paring its advance this year to 34 percent. The Stoxx Europe 600  |
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