Saudi Aramco Raises Crude Oil Prices for Europe to Highest in Three Years

(Bloomberg) -- Saudi Aramco, the world's largest
state oil company, increased prices of most crude oil grades for
export to Europe to a three-year high as maintenance at North Sea
fields increased demand for Middle Eastern and Russian supplies.

The Dhahran, Saudi Arabia-based company raised prices for
shipments to Europe in August by between 40 cents and 70 cents a
barrel, Aramco said in an e-mailed statement late yesterday. The
oil producer also increased prices of Arab Medium and Arab Heavy
prices for shipment to Asia, and cut prices of all grades it
sells to the U.S. by 35 cents to 50 cents a barrel.


Read more at Bloomberg Energy News

Euro Rises to All-Time High Against Yen Before ECB Interest-Rate Meeting

(Bloomberg) -- The euro rose to an all-time high
against the yen and traded near a record versus the dollar on
prospects the European Central Bank will signal plans to raise
its benchmark interest rate at least once more this year.

The euro has gained 3.2 percent versus the dollar in 2007 as
the spread between German and U.S. two-year notes declined to the
narrowest in 2 1/2 years. ECB President Jean-Claude Trichet today
may keep borrowing costs at a six-year high and suggest further
increases. The pound was near a 26-year high against the dollar
on speculation the Bank of England will raise rates today.


Read more at Bloomberg Currencies News

ervice Industries in U.S. Probably Expanded Near Fastest Pace in a Year

(Bloomberg) -- Growth in U.S. service industries
probably held close to the fastest pace in more than a year last
month, signaling continued strength in the economy, economists
said before a report today.

The Institute for Supply Management's index of non-
manufacturing businesses including banks, builders and retailers
slipped to 58 in June from 59.7 the prior month, according to
the median forecast of 73 economists in a Bloomberg News survey.
Readings above 50 signal growth.


Read more at Bloomberg Bonds News

SystemsNet eyes Getronics takeover: paper

(Reuters) - Getronics could not be immediately be reached for comment.




On Tuesday, the company said it has received a formal expression of interest from a U.S.-based firm to acquire all of its shares. It did not name the company.


Read more at Reuters.com Mergers News

India steel glut to trim S.Africa coal demand

(Reuters) - Indian demand for South African coal is set to drop, threatening sharply lower prices, as iron makers there cut back, hit by falling prices in the steel market they supply and rising costs for imported coal.

India's sponge iron makers, who use coal as part of a process to make iron from ore, have relied increasingly on imported South African coal in recent years.


Read more at Reuters Africa

Japan Shares Climb for Sixth Day; Sony Leads Gains on Yen, Retailers Rise

(Bloomberg) -- Japanese shares rose for a sixth day,
matching the longest winning streak of the year. Sony Corp. led
gains on speculation the yen's slump against the dollar and euro
boosted profits in the three months ended June.

Retailers climbed, led by Seven & I Holdings Co., after
companies including Aeon Mall Co. reported higher income in the
first quarter.


Read more at Bloomberg Stocks News

Bank of England May Raise Benchmark Rate a Fifth Time to Quell Inflation

(Bloomberg) -- The Bank of England may raise its
benchmark interest rate for the fifth time in a year today to
bring inflation under control, a survey of economists shows.

The nine-member Monetary Policy Committee, led by Governor
Mervyn King, will increase the Bank Rate a quarter-point to 5.75
percent, the highest since April 2001, according to 53 out of 60
economists surveyed by Bloomberg News. The remainder forecast no
change. The bank will announce the decision at noon in London.


Read more at Bloomberg Currencies News