| * China and US stage delicate rebalancing act * Beijing returns to global metals market * Argentines hope Lula will pull off miracle on Vale potash mine * Indian cricket chief 'steps aside' amid match-fixing scandal * China blocks MasterCard processing renminbi transactions * Infosys recalls co-founder in attempt to revive fortunes * Guest post: marketing for Ramadan Markets: mostly down China and US stage delicate rebalancing act It has almost become a ritual. Every year in early June, a Chinese general sits down on stage at the Shangri-La Hotel in Singapore and tells a ballroom packed with defence ministers and military brass from all over the world that China aspires to peace and will not pose a threat to anyone. http://on.ft.com/18J2Dfq Beijing returns to global metals market China's powerful stockpiling agency has purchased base metals on the international market for the first time since prices crashed during the global financial crisis, as Beijing takes advantage of the recent price slide. http://on.ft.com/18HC3Rw Argentines hope Lula will pull off miracle on Vale potash mine It was an unnerving sight for Vale's investors. Dressed in a traditional Andean poncho, Brazil's former president Luiz Inácio Lula da Silva was pictured in Argentina in May discussing the future of the miner's suspended potash project. http://on.ft.com/13dE5ql Indian cricket chief 'steps aside' amid match-fixing scandal The embattled head of India's cricket authority on Sunday resisted calls for his resignation over illegal betting allegations involving his son-in-law and a wider match-fixing scandal. http://on.ft.com/15vFHww China blocks MasterCard processing renminbi transactions China has blocked MasterCard from processing credit card transactions in renminbi, raising concerns about Beijing's willingness to fully open up the sector after the World Trade Organisation found that it unfairly restricted foreign card companies. http://on.ft.com/15tLbHW Infosys recalls co-founder in attempt to revive fortunes Infosys has recalled co-founder Narayana Murthy as executive chairman in a surprise attempt to revive the fortunes of the outsourcing and software group that helped launch India's IT revolution. http://on.ft.com/10R2q27 Guest post: marketing for Ramadan It's less than six weeks until Ramadan, the Islamic month of fasting, and the busiest marketing time in the Muslim world. So any brand worth its salt should be paying attention to their relationship with Muslim consumers. http://on.ft.com/15iDGDI Emerging Markets MSCI Emerging Market Index down -0.16% at 1,007 Americas DJIA down -1.36% at 15,116 S&P 500 down -1.43% at 1,631 Bovespa down -2.07% at 53,506 Asia Nikkei 225 down -2.73% at 13,398 Topix down -2.33% at 1,109 Hang Seng up +0.46% at 22,495 Shanghai Composite up +0.28% at 2,307 MSCI Asia ex-Japan down -0.03% at 543.11 CNX Nifty down -0.24% at 5,972 Currencies €/$ 1.30 (1.29) $/¥ 100.55 (100.35) Commodities Brent Crude (ICE) down -0.10 at 100.29 Light Crude (Nymex) down -0.07 at 91.90 100 Oz Gold (Comex) up +1.70 at 1,394 |