Norsk Hydro planning bid for Alcan: report

(Reuters) - "There are advantages," one banker close to Alcan told the
paper. "Obviously there are synergies there and there are
certain similarities in terms of potential desires by
governments. It has interesting potential."




Norsk is 43 percent owned by the Norwegian government.


Read more at Reuters.com Mergers News

Oil falls $1 after Nigeria oil strike ends

(Reuters) - London Brent crude fell $1.05 to $69.64 a barrel by 1200 GMT. U.S. crude fell 69 cents to $64.51 a barrel, after surging more than $1.00 on Friday. The market was thin due to holidays in both the UK and the United States.




Nigerian Union leaders said on Saturday workers at the national oil company had suspended the two-day strike after the government agreed to a pay rise and other benefits, although oil traders remained anxious over exports.


Read more at Reuters.com Business News

Vietnam's Government Bonds Gain on Speculation Banks Have Cash to Invest

(Bloomberg) -- Vietnam's bonds gained on speculation
the country's banks have surplus cash to invest in fixed-income
securities.

The yield on the benchmark five-year note fell 1.6 basis
points to 7.14 percent, according to prices by seven banks set
once a day and compiled by Bloomberg. A basis point is 0.01
percentage point. The government today sold 700 billion dong
($44 million) of bonds maturing on May 30, 2012, at a yield of
7.05 percent.


Read more at Bloomberg Bonds News

Wolfowitz says "overheated" row forced him to quit

(Reuters) - The former head of the World Bank Paul Wolfowitz, who resigned in a row about his companion's promotion, said on Monday he had been forced to quit because emotions at the organisation had become "overheated".

In a BBC interview, Wolfowitz defended his record as the bank's president, saying he was proud of what he had achieved during his two years in the job.


Read more at Reuters Africa

India, Pakistan Near Accord on Gas Price for `Peace Pipeline,' Iran Says

(Bloomberg) -- Pakistan and India are close to an
agreement on the price of natural gas that will pass through a
proposed $7.4 billion pipeline linked with Iran, according to one
of the officials involved in the talks.

Hojatollah Ghanimifard, Iran's negotiator, said he hoped
``all problems would be settled'' by June 30, the latest deadline
set by Iran to finalize the contract, Shana, the press agency for
Iran's oil ministry, said in a statement late yesterday.


Read more at Bloomberg Emerging Markets News

European shares edge up in holiday-hit trade

(Reuters) - European shares ticked higher in early trade on Monday, taking their cue from a strong close in U.S. markets and a rise in Asian stocks, but activity will be thin as many major European markets are closed for public holidays.

France Telecom added 0.6 percent after the country's leading telecoms operator kicked off a formal review of bids for part or all of its Orange unit in the Netherlands.


Read more at Reuters Africa

Rand steady, eyes upcoming data

(Reuters) - South Africa's rand steadied against the dollar on Monday and traders expected a dull session due to holidays in Britain and the United States, but said a slew of data from Tuesday will guide the currency.

The rand was trading at 7.080 to the dollar at 0630 GMT, not far off its New York close of 7.0840 on Friday.


Read more at Reuters Africa