Wienerberger confirms to buy Canada's Arriscraft

(Reuters) - Arriscraft International Income Fund, which owns Arriscraft
International, had already announced the deal on Monday.




Wienerberger said in its statement it was still awaiting
permission from the competition authorities for the deal.


Read more at Reuters.com Mergers News

Thailand Government Bonds Fall as Yields Rise at Auction of 17-Year Debt

(Bloomberg) -- Thailand's bonds fell after yields
rose at a government auction of 5 billion baht ($152.4 million)
of 17-year debt.

The government today sold securities maturing in April 2024
at a weighted average yield of 4.5551 percent, more than the
4.1693 percent at a previous auction on May 23.


Read more at Bloomberg Bonds News

Japanese Shipping Company Shares Advance After UBS AG Raises Target Price

(Bloomberg) -- Shares of Nippon Yusen K.K., Mitsui
O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd., Japan's three
largest shipping companies, rose after UBS AG said it's
``bullish'' on the companies and raised their target price.

Shares of Mitsui O.S.K. rose as much as 3.3 percent to
1,632 yen and traded at 1,620 yen as of 9:32 a.m. in Tokyo.
Nippon Yusen's stocks surged as much as 2.9 percent to 1,109 yen
and Kawasaki Kisen shares rose 3.9 percent to 1,454 yen.


Read more at Bloomberg Commodities News

UPDATE 1-Red faces at Japan's NEC over illegal trades

(Reuters) - NEC said in a statement on Tuesday that an investigation by
the Tokyo Regional Taxation Bureau had found 10 employees from
five divisions within the company had been involved in placing
fake orders to subcontractors and receiving kickbacks from them.




The fake orders were worth some 2.2 billion yen and the kickbacks amounted to around 500 million yen, it
said.


Read more at Reuters.com Government Filings News

Asian Stocks Rise After Japan's Jobless Rate Drops; Mizuho Financial Jumps

(Bloomberg) -- Asian stocks advanced for a second day
after reports in Japan, the region's largest economy, showed an
unexpected drop in unemployment and household spending increased
for a fourth month.

Mizuho Financial Group Inc. rose to a three-month high,
helping lenders extend their lead as Japan's best performers this
month, on speculation consumers will help sustain economic growth.


Read more at Bloomberg Stocks News

China Gas to Build $157 Million Natural Gas Plant to Tap Clean-Fuel Demand

(Bloomberg) -- China Gas Holdings Ltd., operator of
61 natural gas projects on the mainland, will build a 1.2 billion
yuan ($157 million) liquefied natural gas plant in southwestern
China to gain from increased demand for cleaner burning fuels.

The plant, in the southwestern city of Dazhou, will have
annual capacity of 500,000 metric tons, or about 700 million
cubic meters of gas, the company said in an e-mailed statement
late yesterday. Its shares rose as much as 11 percent in Hong
Kong on resuming trade today, headed for a record close.


Read more at Bloomberg Emerging Markets News

Yuan Declines Most in Two Weeks on Signs China Is Reining in Its Advance

(Bloomberg) -- The yuan dropped the most in two weeks
on signs China is seeking to deter speculators betting on faster
gains since the central bank widened the trading band.

The currency fell as the central bank set a weaker daily
reference rate for yuan trading, after stronger fixings for the
previous six trading days. The central bank on May 18 widened the
daily limit on yuan fluctuations to 0.5 percent from 0.3 percent.


Read more at Bloomberg Currencies News

Asian Equities Rise on Japan's Economic Outlook; Mizuho Financial Advances

(Bloomberg) -- Asian stocks advanced for a second
day after reports in Japan, the region's largest economy, showed
an unexpected drop in unemployment and household spending
increased for a fourth month.

Mizuho Financial Group Inc. rose to a three-month high,
helping lenders extend their lead as Japan's best performers
this month, on speculation consumers will help sustain economic
expansion.


Read more at Bloomberg Stocks News

Dollar Trades Near Three-Month High as U.S. Consumer Confidence to Rebound

(Bloomberg) -- The dollar traded near a three-month
high against the yen on speculation a U.S. report today will show
consumer confidence rebounded from an eight-month low.

The U.S. currency was also near the highest in six weeks
versus the euro as housing data prompted traders to reduce bets
on a Federal Reserve interest-rate cut. The yen was supported
briefly after Japan's jobless rate unexpectedly fell to a nine-
year low and households increased spending for a fourth month.


Read more at Bloomberg Currencies News

Formosa Petrochemical, Taishin, Quanta Computer: Taiwan's Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Taiwan trading. Stock symbols are in brackets after the
company names. The preview includes news that broke after
markets shut. Prices are from yesterday's close unless otherwise
stated.

The Taiex index slipped 3.15 points to 8156.82 in Taipei.
Futures due in June added 0.3 percent to 8154.


Read more at Bloomberg Stocks News

Japan's Stocks May Gain After Household Spending, Jobs Data Beat Forecasts

(Bloomberg) -- Japanese stocks may climb after a
measure of household spending beat forecasts and the jobless
rate fell to a nine-year low. Domestic demand-related shares
including Fast Retailing Co. may pace gains.

Nikkei 225 Stock Average futures expiring in June last
traded in Chicago at 17,585, down from the close of 17,600 in
Osaka and 17,605 in Singapore yesterday.


Read more at Bloomberg Stocks News

Japan's Government Bonds May Rise as Investors Match Nomura Index Change

(Bloomberg) -- Japan's government bonds may advance,
halting a four-day decline, on speculation 10-year yields near the
highest since February will lure investors as they match a change
in a benchmark debt index.

Nomura Securities Co., Japan's biggest brokerage, will add
debt including 10- and 20-year bonds sold this month to its Bond
Performance Index for June and remove securities maturing in a
year or less. Money managers such as Japan's Government Pension
Investment Fund, which runs the world's largest pool of retirement
wealth, use the index to decide on holdings.


Read more at Bloomberg Bonds News

Alcan Shares Rise on Possible Takeover Bids From Norsk Hydro, Rio Tinto

(Bloomberg) -- Shares of Alcan Inc. rose after
reports of possible takeover offers from Norsk Hydro ASA and Rio
Tinto Group raised expectations of a bidding war with Alcoa Inc.
for the Canadian aluminum producer.

Norsk Hydro, an Oslo-based energy and metals producer, is
preparing a bid valued at more than $30 billion for Alcan, the
Globe and Mail reported today, citing bankers close to both
companies who weren't named. Rio Tinto, the world's third-largest
miner, hired Deutsche Bank AG to advise it on a possible Alcan
bid, the Age newspaper reported, without citing anyone.


Read more at Bloomberg Stocks News

EU presses China on trade gap, rights

(Reuters) - EU External Relations Commissioner Benita Ferrero-Waldner said after meeting Chinese Foreign Minister Yang Jiechi she had also stressed the need for Beijing to do more on climate change.




"I mentioned the huge trade deficit that is there," she told Reuters. "If you only think, in the year 2006 -- 130 billion euros . That's a huge deficit and therefore we really want to get market access."


Read more at Reuters.com Business News

Colombia Peso Bond Yields Drop to One-Month Low on Slower Inflation View

(Bloomberg) -- Colombia's peso bond yields fell to a
more than one-month low on speculation lower food prices and a
stronger currency will encourage the central bank to end its
recent series of interest rate increases.

The central bank raised its target rate for overnight
lending between banks on May 18 to 8.75 percent, the highest
since November 2001. The bank has raised the key rate 11 times
since April 2006 from a three-year low of 6 percent.


Read more at Bloomberg Bonds News

Canada's Currency Trades Near 30-Year High, Bond Yields Rise on Inflation

(Bloomberg) -- Canada's 10-year bond yield rose to a
10-month high on speculation Bank of Canada policy makers will
express concern tomorrow over accelerating inflation.

The Canadian dollar traded at near a 30-year high as futures
traders increased bets the central bank will raise the benchmark
lending rate at least once this year to slow the growth of
consumer prices. Canadian inflation, excluding volatile
components such as energy, accelerated in April to its highest
level in more than four years.


Read more at Bloomberg Currencies News

Brazil central bank strike delays data, again

(Reuters) - Unionized bank workers have been striking over pay since
the beginning of May.




Read more at Reuters.com Bonds News

Middle East Money Managers to Triple Assets to $200 Billion, Algebra Says

(Bloomberg) -- Middle Eastern and North African
money managers' assets will almost triple to $200 billion by
2012 as regional stocks attract investors, Dubai, United Arab
Emirates-based Algebra Capital Ltd. forecast.

``Gulf markets present better value than other emerging
markets, which have been more on the radar screens of
international investors and are trading at higher multiples,''
Ziad Makkawi, chief executive officer of Algebra, the asset
management firm he started in November, said in an interview in
Dubai today.


Read more at Bloomberg Emerging Markets News

Nordic Indexes Climb, Paced by Swedish Match, Volvo; OMX Shares Advance

(Bloomberg) -- Nordic stocks gained, led by Swedish
Match AB, the world's second-largest maker of smokeless tobacco
products, and Volvo AB, Europe's second-biggest truckmaker.

OMX AB jumped to a six-year high after the Sunday Times
reported the Nordic region's biggest stock exchange operator may
receive a counterbid from Dubai.


Read more at Bloomberg Stocks News

China's Stock Index Breaches 4,000 for First Time; World's Biggest Mover

(Bloomberg) -- China's CSI 300 Index rose above 4000
for the first time, driven by a surge in new investors who are
ignoring warnings of a bubble to enter a market that's doubled
this year.

China International Marine Containers Co. and Tsingtao
Brewery Co. were among 11 stocks to rise by the 10 percent daily
limit on the 298 member index. Jiangxi Copper Co. climbed after
the price of the metal gained by the daily cap in Shanghai.


Read more at Bloomberg Stocks News

S.African stainless steel demand up 29 pct in 2006

(Reuters) - Stainless steel demand in South Africa jumped by 29 percent last year, fuelled by the transport sector, and more growth was expected in 2007, an industry group said.

"The growth outlook for the local market remained positive, driven by strong demand and project activity within South Africa and the region," said a statement by the Southern Africa Stainless Steel Development Association.


Read more at Reuters Africa

Sweden Consumer Confidence Slips From Highest Since 2000 on Rate Concern

(Bloomberg) -- Sweden's consumer and manufacturing
confidence indexes fell from the highest levels in more than six
years after the central bank said it will have to raise interest
rates more than anticipated.

The consumer index fell to 19.7 from 23 in April, which was
the highest since November 2000, the National Institute of
Economic Research said in an e-mail. The manufacturing index in
May fell to 9 from 13, which was also a seven-year high. The so-
called economic tendency indicator, a combination of both
indexes, fell to 115.9 from 117.4.


Read more at Bloomberg Bonds News

Russian Stocks Erase Advance; Gazprom, Lukoil and Surgut Shares Decline

(Bloomberg) -- Russian stocks pared earlier gains as
OAO Gazprom, OAO Lukoil and OAO Surgutneftegaz declined.

The ruble-denominated Micex Index sank 0.2 percent to
1578.98 rubles at 11:39 a.m. in Moscow. The dollar-denominated
RTS Index dropped 0.4 percent to 1788.03.


Read more at Bloomberg Stocks News

Crude Oil Falls on U.S. Gasoline Output Increase, End of Nigerian Strike

(Bloomberg) -- Crude oil fell in New York on
speculation U.S. fuel prices may ease as refiners increase
output to meet summer demand and after oil workers in Nigeria
ended a two-day strike.

A U.S. government report showed gasoline production rose to
the highest since December, boosting supplies for a third week.
U.S. crude oil stockpiles are 7.6 percent above their five-year
average, the Energy Department said last week. Nigerian oil
workers ended the strike after the government conceded to their
demand for more pay and benefits, Reuters reported on May 26.


Read more at Bloomberg Commodities News