Argentina, Brazil, Colombia, Venezuela: Latin American Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American local bonds
today. Bond yields are from the previous session.

Argentina: The country's refusal to settle its $6 billion
debt with Paris Club creditors is hurting Argentina's chances of
achieving credit ratings increases, said Mauro Leos, an analyst
at Moody's Investors Service. Argentina hasn't paid its debt
with the Paris Club since 2001, when it also defaulted on $95
billion of bonds. The country has posted budget surpluses amid
economic growth of more than 8 percent in each of the past four
years.


Read more at Bloomberg Bonds News

South Korean Shares Climb for Third Day; Kookmin, Samsung Electronics Gain

(Bloomberg) -- South Korea's stocks rose for a third
day after North Korean leader Kim Jong Il signaled in a news
report that the Communist state is ready to dismantle its nuclear
program. Samsung Electronics Co. and Kookmin Bank gained.

``The direct beneficiary will be the Korean market, as
foreign investors may turn more positive,'' said Jo Dong Hyuk,
who oversees $1.9 billion in global equities at Korea Investment
Trust Management Co. in Seoul. ``The geopolitical risk was the
biggest reason for the `Korea Discount.'''


Read more at Bloomberg Stocks News

India's Oil & Natural Gas Scraps CEO Search After Pay Deters Applicants

(Bloomberg) -- Oil & Natural Gas Corp. may confirm
acting Chairman R.S. Sharma to lead India's most profitable
company after a 14-month recruitment drive failed to attract a
single applicant from the private sector due to low pay.

Sharma, 56, may get approval from the Prime Minister's
Office as early as today, replacing Subir Raha who stepped down
in May, 2006, company spokeswoman Narayani Mahil said yesterday.
The state owns 74.14 percent of Oil & Natural Gas's shares. All
71 applicants for the post were from the government or public
sector, Raha said. Sharma wouldn't comment.


Read more at Bloomberg Emerging Markets News

European Government Bonds May Drop as Economic, Rate Outlook Deters Buyers

(Bloomberg) -- European government bonds may fall as
stronger-then-anticipated economic growth in the euro region
underpins views the European Central Bank needs to raise interest
rates further from a six-year high.

Yields on 10-year German bunds, Europe's benchmark, may
climb for a second day after concerns spurred by terrorist plots
in the U.K. sent them to the lowest in three weeks. ECB President
Jean-Claude Trichet may repeat his view borrowing costs are still
low enough to fuel expansion in the $10.4 trillion economy when
the bank's policy makers meet tomorrow to set rates.


Read more at Bloomberg Bonds News

UPDATE 1-Shangri-La raises $662 mln for China hotel expansion

(Reuters) - HONG KONG, July 4 - Shangri-La Asia Ltd. ,
the hotel arm of Malaysia's Kuok Group, plans to raise at least
HK$5.17 billion via a rights issue to pay back
debt and fund expansion plans in China's booming hotel arena.




The move by the hotel chain -- named after the mythical
utopia made famous by British author James Hilton -- comes as
deal action in major hotel chains heats up.


Read more at Reuters.com Mergers News

BMW, DaimlerChrysler, Deutsche Telekom, Porsche: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets.

Germany's X-DAX Index rose 1.49 to 8044.15. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. The DAX
climbed 1.2 percent to 8050.68 on the Xetra electronic-trading
system.


Read more at Bloomberg Stocks News

Malaysia's Lee Offers Quarter-Acre Estate Plots to Lure Oil Palm Investors

(Bloomberg) -- Malaysian millionaire Lee Kim Yew
plans to sell investors thousands of 1/4-acre plots of oil palm
plantation offering guaranteed returns for three years, the
first venture of its kind in the Southeast Asian country.

Lee is offering half of a 10,000 acre estate in Kelantan at
5,000 ringgit ($1,450) a plot, potentially raising 100 million
ringgit. For three years, as trees mature, investors will
receive a fixed return of 8 percent, Lee said in an interview.
After that, income depends on the commodity's price.


Read more at Bloomberg Emerging Markets News