Brait full-year earnings up 10 pct

(Reuters) - South African investment bank and private equity group Brait increased full-year earnings by 10 percent, helped by a solid performance from the firm's specialised funds unit, the company said on Monday.

Brait, one of the biggest private equity players in South Africa, said headline earnings rose 10 percent to $45.7 million. In rand terms, headline earnings increased by 21 percent to 321.9 million rand.


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Newcastle Coal Prices Climb to Two-Year High as China's Demand Increases

(Bloomberg) -- Price of coal at Newcastle, Australia,
the world's largest export terminal for the fuel, rose to the
highest in more than 2 years as demand from China increased.

The price of coal for immediate delivery from the Australian
port rose to $57 a metric ton for the week ended June 1 from
$56.35 ton a week earlier, according to the globalCoal NEWC Index.
China's coal imports in the first four months surged 50 percent
to 19 million tons, while exports slumped 29 percent to 15.87
million tons, according to customs figures released May 25.


Read more at Bloomberg Energy News

China's Stocks Tumble, Extending a $224 Billion Slump; Huadian Power Drops

(Bloomberg) -- China's stocks tumbled after the
government's main securities newspaper signaled that policy
makers won't try to arrest a slump that wiped out $224 billion
of market value in the previous three trading days.

The CSI 300 Index dropped 5.5 percent to 3595.50 as of 1:50
p.m. local time. The measure, which tripled in the past 10
months, has plunged 14 percent from its May 29 peak after the
government tripled the tax on share trades to 0.3 percent. About
70 of the benchmark's members, including Huadian Power
International Corp., slid by the 10 percent daily limit today.


Read more at Bloomberg Stocks News

Imperial Oil Refinery in Alberta Catches Fire, Affecting Some Operations

(Bloomberg) -- An Imperial Oil Ltd. refinery on
the outskirts of Edmonton, Canada, caught fire last night,
affecting some operations at the site.

The blaze, at a crude-oil processing unit, was under
control in about 30 minutes and then allowed to burn out,
and no injuries were reported, Calgary-based Imperial Oil
spokesman Gordon Wong said today.


Read more at Bloomberg Energy News

Thai Bonds Decline as Economic Growth Beats Forecast; Baht Little Changed

(Bloomberg) -- Thailand's bonds fell after a
government report showed the economy grew faster than expected in
the first quarter. The baht was little changed.

Yields on benchmark 10-year notes rose to the highest in more
than six weeks. Gross domestic product rose 4.3 percent in the
first three months from a year earlier, the National Economic and
Social Development Board said in Bangkok today. Economists had
expected a 3.7 percent growth in a Bloomberg survey.


Read more at Bloomberg Bonds News

Gold Declines on Speculation Last Week's Rise is Overdone; Silver Drops

(Bloomberg) -- Gold fell in Asia as some investors
bet last week's rise, its biggest weekly gain in more than three
months, was overdone. Silver also declined.

Gold last week closed above $670 an ounce for the first
time since May 15 after the European Central Bank said it won't
sell any more gold until after Sept. 26. This helped to boost
demand for the precious metal, which rose 2.4 percent in its
biggest weekly gain since the week ending Feb. 9.


Read more at Bloomberg Commodities News

Taiwan's 10-Year Government Bonds Fall Before Debt Sale; Currency Advances

(Bloomberg) -- Taiwan's 10-year government bonds
fell for a fourth day on speculation a central bank debt sale
this week will reduce spare funds in the financial system. The
currency rose.

The Central Bank of the Republic of China (Taiwan) said
today it plans to auction NT$100 billion ($3 billion) of 364-day
certificates of deposit on June 8, the first offering since May
21. Such sales absorb funds from the money market, leaving
investors with less capital to buy longer-term debt.


Read more at Bloomberg Bonds News

UPDATE 1-Japan Q1 capital spending rises to record high

(Reuters) - The survey by the Ministry of Finance also suggests that
gross domestic product figures for the same quarter will
be revised up when the numbers are released on June 11.




The data also underscored market expectations that the Bank
of Japan will raise rates around August to keep on top of
inflation.


Read more at Reuters.com Economic News

Japanese Government Bonds Decline After U.S. Labor Report Shows Growth

(Bloomberg) -- Japanese bonds dropped, sending 10-year
yields to the highest since October, on speculation the U.S.
economy will rebound after a government report showed hiring
accelerated more than economists estimated.

Debt in Japan followed a slump in U.S. Treasuries that pushed
10-year yields to the highest level in more than nine months on
June 1. Signs of a recovery in Japan's biggest export market may
deter investors from buying bonds before a 10-year debt auction in
Tokyo tomorrow.


Read more at Bloomberg Bonds News

Australia Stock Update: S&P/ASX 200 Rises 19.20 to 6,352.70, Led by BHP

(Bloomberg) -- Australia's benchmark stock index, the
S&P/ASX 200 Index, rose 0.30 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 19.20 to 6,352.70. Among the stocks in the index,
143 rose, 40 fell and 18 were unchanged.


Read more at Bloomberg Stocks News

China's Investment in Africa to Boost Shilling, Cedi, Standard Bank Says

(Bloomberg) -- Kenya's shilling and Ghana's cedi
will rise as China increases spending on oil fields, roads and
telephone networks in Africa to secure raw material supplies,
Standard Bank Group Ltd. said.

The shilling may appreciate 3 percent against the dollar by
year-end, said Francis Beddington, the London-based head of
Eastern Europe, Middle East and Africa research at Standard
Bank, Africa's largest by assets. He attended the Tunis-based
African Development Bank's annual meeting, held in China for the
first time last month to help attract funds to the continent.


Read more at Bloomberg Currencies News

Nipponkoa Insurance, Takeda, Daiichi Sankyo: Japanese Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets on June 4. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Cawachi Ltd. (2664 JT): The drugstore chain said same-store
sales in May gained 8.4 percent from the same month a year
earlier. The stock rose 50 yen, or 1.4 percent, to 3,560.


Read more at Bloomberg Stocks News

Hilton Hotels to boost global expansion: WSJ

(Reuters) - The newspaper cited President and Chief Operating Officer Matthew Hart, who will become the hotel group's chief executive on January 1, when current CEO Stephen Bollenbach retires.




A spokeswoman for Hilton was not immediately available to comment on the report.


Read more at Reuters.com Business News

Key Egyptian stock index inches up to 16-month high

(Reuters) - The Case 30 index,, a benchmark for major firms listed in Egypt, hit a 16-month closing high on Sunday, powered by El-Sewedy Cables which raced to an all-time closing high on strong growth and outlook.

Shares in El-Sewedy Cables, one of the biggest cable manufacturers in the Middle East, rose 6.6 percent to last trade at 59.95 Egyptian pounds.


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Egypt o/n interbank rate steady at 8.758 pct

(Reuters) - The median overnight interbank rate on the Egyptian pound was steady at 8.758 percent on Sunday compared with 8.757 percent on Wednesday, in the absence of significant auctions of government paper, dealers said.

"The market is very liquid because there are no auctions. Any movement in a few basis points means nothing," said one dealer. Overnight rates have been hovering just above 8.75 percent for the past three weeks.


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China sets energy efficiency as performance target

(Reuters) - Chinese government leaders and major companies were put on notice on Sunday that energy efficiency and pollutant reduction will be key factors in their performance assessments, Xinhua news agency said.

They should be set as indexes for assessing economic and social development and the performance of government and company leaders, the State Council, or cabinet, warned in a circular.


Read more at Reuters Africa