 | Qatari fund bullish on
commodity prices QATAR´S purchase of stakes in
engineering group Siemens and
oil giant Shell follow a pattern of
the Gulf Arab state investing to
accelerate its domestic development
and, in the case of Shell,
underlines its long-term faith in
commodity prices.
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| | Rupee skids to 56 versus dollar; more falls seen |  THE rupee slumped to a record
low against the dollar on
Wednesday, ratcheting up pressure
on policymakers to restore
confidence in the currency at a
time when appetite for risky
assets is ebbing around the world.
The rupee fell beyond the symbolically
significant level of 56 to
the dollar, and traders said it
could fall further to 57. The currency
has already dropped more
than 13 percent from its 2012
peak in February.
Global risk aversion, brought on
by the debt crisis in the euro zone,
has exposed India´s vulnerabilities,
most prominently a current
account deficit that reached 4.3
percent of GDP in the December
quarter. The economy depends on
capital flows... | | | Battle for Cove Energy heats
up as PTT trumps Shell |  THE takeover battle for Cove
Energy looks set to run after
Thailand´s PTT Exploration
and Production trumped
Royal Dutch Shell with a $1.9
billion offer, underscoring
interest in new east African
gas finds.
Shares in Mozambiquefocused
Cove jumped as
much as 12 percent to 250.5
pence on Wednesday, above
PTT´s offer of 240 pence a
share and signaling investors
expect Shell to come back
with a higher bid.
Shell could counterbid as
much as 300 pence a share,
and still stay within the range
of prices others have paid for
international oil and gas
assets in recent years, said
Stuart Joyner, oil analyst at
Investec.
"Clearly the game is not yet
over," analysts at Singer. | | | China promises to boost economy |
 CHINA´S Cabinet promised
on Wednesday to step up
efforts to reverse a steep slowdown
in the world´s secondlargest
economy and said it
would encourage private
investment in energy and
other state-dominated
industries.
Chinese leaders have gradually
eased controls imposed
over the past two years to cool
an overheated economy and
inflation. But some analysts
warn they need to move faster
as global demand and
Chinese consumer spending
weaken.
Economic growth fell to a
nearly three-year low of 8.1
percent in the first quarter
and factory output in April
grew at its slowest pace since
the 2008 crisis, raising the
threat of job losses and possible
political tensions ... | |
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