Japan's Nikkei Stock Average, Topix Index Rise; Toyota, Honda Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 165.99, or 0.9 percent, to 18,137.48 at 9:02 a.m. in Tokyo.
The broader Topix index added 14.64, or 0.8 percent, to
1787.58.

Toyota Motor Corp. and Honda Motor Co. led the advances.


Read more at Bloomberg Stocks News

New Zealand Dollar Drops on Speculation Central Bank Is Selling Currency

(Bloomberg) -- The New Zealand dollar, the best-
performing major currency in the past 12 months, dropped on
speculation the nation's central bank intervened to drive it
lower for the second time this month.

Traders and strategists at Bank of New Zealand Ltd. and ANZ
National Bank Ltd. said the central bank probably sold New
Zealand dollars today. The central bank has ``no comment to
make,'' spokeswoman Anthea Black said by telephone from
Wellington.


Read more at Bloomberg Currencies News

Lehman Brothers rising as banking power: Barron's

(Reuters) - This offers investors who are comfortable with going against the crowd or moving ahead of it the chance to buy the weak stock of a firm with a stable franchise that is on the rise, Barron's said.




One complaint about Lehman, however, is that at $600 billion, its balance sheet is not big enough to do many big deals, the paper reported. Goldman's balance sheet is $912 billion, while Morgan Stanley's is more than $1.2 trillion, Barron's said. Citigroup's is about $2 trillion and JPMorgan's is about $1.4 trillion, it said.


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Mauritius May Sell Stakes in Telephone, Insurance Companies to Retire Debt

(Bloomberg) -- Mauritius may sell stakes in several
state-owned companies, including Mauritius Telecom and the State
Insurance Company Ltd., and use the proceeds to retire debt or
build new infrastructure, Finance Minister Rama Sithanen said.

``As part of its policy to develop the equity market and to
widen and democratize share ownership, government will encourage
Mauritius Telecom and Sicom Ltd. to be listed on the Stock
Exchange of Mauritius,'' Sithanen said in his June 15 budget
speech, which was published on his ministry's Internet site. ``In
the same vein, government will sell some of its shares in other
state-owned companies.''


Read more at Bloomberg Emerging Markets News

Niger plans audit of foreign, local mining firms

(Reuters) - Niger's government is planning its first ever audit of mining and energy firms as foreign explorers flock to its expanses of mineral-rich desert, the West African country's government said.

The world's third largest uranium producer last year changed its mining law to allow the government to audit foreign firms, in line with the Extractive Industries Transparency Initiative (EITI) championed by British Prime Minister Tony Blair.


Read more at Reuters Africa

Yen Slides Against Dollar, Euro as Fukui Signals Rates Won't Rise Quickly

(Bloomberg) -- The yen slumped the most against the
dollar since January as Bank of Japan Governor Toshihiko Fukui
said the central bank needed to be ``more confident'' about
price increases before raising rates.

Japan's currency reached an all-time low against the euro
as the yield advantage of 10-year German bunds and comparable
Japanese notes expanded to the widest in three years. Treasury
yields pulled back from five-year highs reached this week as a
government report showed core consumer inflation abated.


Read more at Bloomberg Currencies News

Iran president rejects economic policy criticism

(Reuters) - "Some are against the ... government's success and they want
to make us tired and retreat, but be sure that they won't
succeed," President Mahmoud Ahmadinejad said during a provincial
tour, according to the daily Donya-Ye Eqtesad.




The economists' letter, published in newspapers on Tuesday,
also said government foreign policy "had not been constructive",
drawing U.N. sanctions in a row with the West over Iran's atomic
plans.


Read more at Reuters.com Economic News