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.


Read more at Reuters Africa

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