Kuwait Says Currency Peg Gives It `Flexibility' in Setting Exchange Rate

(Bloomberg) -- Kuwait's decision to peg the dinar to
a basket of currencies gives it flexibility in setting its
exchange rate, Kuwait News Agency reported, citing central bank
governor Sheikh Salem Abdul Aziz al-Sabah.

Markets needed time to adequately absorb the new currency
arrangement that was adopted on May 20, KUNA reported, citing the
governor. The central bank has sufficient expertise in managing a
currency basket to boost monetary stability and confidence in the
dinar, he said, the state news agency reported.


Read more at Bloomberg Currencies News

Europe Bonds Fall on Concern Recent Gains Aren't Justified By Rising Rates

(Bloomberg) -- European bonds fell on speculation
the longest run of weekly gains in five months isn't justified
by expectations for higher interest rates in the euro region.

The yield on the German 10-year bund, Europe's benchmark,
rose 2 basis points to 4.33 percent as of 7:21 a.m. in London,
after reaching 4.30 percent last week, its lowest since mid-May.
The price of the 4.25 percent security due July 2017 fell 0.16,
or 1.6 euros per 1,000-euro ($1,364) face amount, to 99.34.


Read more at Bloomberg Bonds News

Atos, Cap Gemini, France Telecom, NicOx and Steria: French Equity Preview

(Bloomberg) -- The following stocks may rise or
fall on the Paris stock exchange. Symbols are in parentheses
after company names. Prices are from the last close.

August futures on the benchmark CAC 40 Index slipped 10 to
5641 at 8:13 a.m. in Paris.


Read more at Bloomberg Stocks News

South Africa eyes import tariff cuts to aid manufacturing

(Reuters) - South African President Thabo Mbeki said on Sunday his government may cut tariffs on some imported equipment and goods in a bid to boost the manufacturing sector and make it more competitive internationally.

In a briefing to discuss the outcome of a mid-year meeting of his cabinet and other senior officials, Mbeki said a healthier manufacturing sector was critical to the government's efforts to narrow the country's trade deficit.


Read more at Reuters Africa

MegaFon stake dispute may be near end - Vedomosti

(Reuters) - Vedomosti said representatives of Alfa and IPOC were nearing an agreement under which both sides would withdraw their claims against one another, an unidentified source close to MegaFon told the paper.



Sources close to IPOC and Alfa confirmed the intention to sign an agreement, but the paper said some details remained to be worked out.


Read more at Reuters.com Mergers News

KPN to bid for Getronics, reports Q2 results

(Reuters) - KPN's second-quarter earnings before interest, tax,
depreciation and amortisation were flat at 1.28 billion
euros and compared with an average forecast of 1.23 billion in a
Reuters poll of 12 analysts.




Read more at Reuters.com Mergers News

Asian Stocks Rebound From 1-Month Low; JFE, Nippon Steel Rise, Sony Falls

(Bloomberg) -- Asian stocks rebounded from a one-
month low after higher profits at JFE Holdings Inc. and Nippon
Steel Corp. helped offset concerns of a slump in U.S. housing.

Sony Corp., the maker of Cyber-shot cameras and PlayStation 3
consoles, and James Hardie Industries NV, the biggest supplier of
home siding in the U.S., led declines after a report showed a
decline in U.S. housing investment.


Read more at Bloomberg Stocks News