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UPDATE 2-China, India likely to be biggest shareholders in AIIB

SINGAPORE, May 22- China is likely to hold a 25-30 percent stake in the new Asian Infrastructure Investment Bank while India will be the second-biggest shareholder, delegates said on Friday after a three-day meeting of the bank's founding member-nations. No details of the ownership structure were disclosed, but delegates told Reuters that China would likely...
Source: Reuters
COLUMN-As LME looks east, CME throws down challenge in west: Andy Home

SINGAPORE, May 22- The London Metal Exchange Asia festivities have just wrapped up in Hong Kong. The grand old London lady of metals trading is all part of Charles Li's vision of positioning Hong Kong as the renminbi gateway between mainland China and international markets. The stage is being set for a battle for metals market share in the world outside China.
Source: Reuters | By: Andy Home
UPDATE 3-Brent crude oil steadies near $66 before long weekend

*Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...
Source: Reuters | By: Christopher Johnson
GLOBAL MARKETS-Stocks get that Friday feeling as stimulus trumps growth concern

Wall Street's record high on Thursday lifted Asian stocks on Friday, a day that will be packed with key European and U.S. economic data as well as speeches from Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi. European shares struggled to match that, but the leading index of European shares was still poised for its biggest...
Source: Reuters | By: Jamie McGeever
PREVIEW-Japan April core CPI seen subdued even after 2-year BOJ stimulus

*CPI data due 2330 GMT, output due 2350 May 28. TOKYO, May 22- Japan's consumer inflation remained subdued in April on lower energy costs, adding pressure on the Bank of Japan after already two years of massive stimulus aimed at banishing deflation. "The actual condition of the economy lacks momentum," said Takumi Tsunoda, senior economist at Shinkin Central Bank...
Source: Reuters | By: Kaori Kaneko
Shanghai shares on a tear, while Nikkei ekes out 15-year peak

Mainland shares took the limelight on Friday, with the Shanghai Composite clinching a fresh seven-year high, while markets in Japan edged up to finish the week at their highest levels in 15 years.
Source: CNBC.com | By: See Kit Tang
UPDATE 1-China-backed AIIB sets target to be operational by year-end

SINGAPORE/ NEW DELHI, May 22- China-backed Asia Infrastructure Investment Bank on Friday set an ambitious target to become operational by the end of the year after a three-day meeting of prospective founding member nations in Singapore. Delegates told Reuters that China would likely take a 25-30 percent stake in the bank, and India was likely to be the...
Source: Reuters
Banking with the enemy? Doing business in Mosul

ISIS may be gaining ground across Syria and Iraq, but the Chairman of Jordan's Capital Bank, Bassem Al-Salem, says it's business as usual.
Source: CNBC.com | By: Hadley Gamble
Tuk-tuk taxi maker aims to make inroads in US

DENVER- They're ubiquitous in Asia, swarming the bustling streets of Bangkok, New Delhi and Beijing. The Tuk Tuk Factory, based in Amsterdam, has signed a licensing agreement with Denver- based eTuk USA to allow the company to manufacture and sell an electric version of the vehicle. The three partners' other company, eTuk Denver, launched a call-and-demand shuttle...
Source: The Associated Press
China stocks hit 7-year high, Europe muted ahead of Fed

HONG KONG- Chinese stocks hit a seven-year high as investors pinned their hopes on further economic stimulus while most other world markets were subdued Friday ahead of a speech by Federal Reserve chair Janet Yellen. Britain's FTSE 100 gained 0.3 percent to 7,033.44. CHINA RALLY: Investors who weren't allocated shares in recent initial public offerings are...
Source: The Associated Press | By: By KELVIN CHAN, AP Business Writer