Business news for Mon, 24 Dec 2007 & with word firms. 12 news.

ASIAN stocks rose for a second day, led by electronics makers, after consumer spending increased more than forecast in the United States, the region's biggest export market. Hon Hai Precision Industry Co, maker of iPods for Apple Inc, and Samsung Electronics Co climbed to the highest in more than a week. The Standard & Poor's 500 Index advanced the most in three weeks last Friday after the report on November spending eased concern about recession in the world's biggest economy. "US shares showed firm gains, and we're seeing the influence in shares today (yesterday)," said Kim Jae Dong, who oversees the equivalent of US$8.6 billion at Korea Investment Trust Management Co in Seoul. BHP Billiton Ltd led an increase among miners after metals prices climbed, and a UK regulator set a deadline for a formal takeover bid for Rio Tinto Group. The MSCI Asia Pacific, excluding Japan Index, rose two percent to 524.1 as of 3:38pm in Hong Kong, with all 10 industry groups climbing.

SHARES in Shanghai closed higher yesterday for the fourth consecutive session as transactions grew, boosted by investors building up positions in this year's last week of trading in hopes of a bullish 2008. Shares of PetroChina and brokers led the gain in the key index. The Shanghai Composite Index, tracking yuan-denominated A shares and hard currency B chips, jumped 132.48 points, or 2.6 percent, to end at 5,234.26. It was the index's longest winning streak in nearly two months during which the market underwent correction on concerns of overvaluation. The A share barometer rose 2.6 percent while the B share gauge gained 1.32 percent. Transactions soared nearly 40 percent yesterday from last Friday to more than 140 billion yuan (US$19 billion). Gainers outpaced decliners by 641 to 116 with another 116 shares unchanged. "The market is still bullish as the fundamentals haven't changed. The listed firms' growth might be slowing a little but the momentum is still there,"

THE management of a second batch of power generating assets owned by State Grid Corp of China has been transferred to electricity producers, paving way for an eventual sale and making the firm a pure distributor as part of an industry reform. As of Sunday, the power-producing companies are responsible for safety operations and management of eight power plants in which State Grid owned a combined equity generating capacity of 6.47 gigawatts. The State Electricity Regulatory Commission said yesterday this marks the completion of the "main work" in the asset disposal. Other areas still to be done include deal signing, transaction and registration. State Grid, China's dominant power distributor, retained certain generating assets in 2002 during the breakup of the former State Power Corp into five national power producers and two grid operators. It had completed the sale of combined 10.8GW in the first phase of the sale in May to 31 companies, raising 18.7 billion yuan

Stocks closed higher Monday afternoon at the end of a half-day of trading on the eve of a Christmas pause, as investors flocked to financial services firms after yet another Wall Street firm announced a big foreign cash investment.

(AP) -- CME Group Inc.'s stock slipped Monday after a group of banks and trading firms said they plan to launch their own futures exchange to try to garner cheaper commissions. Late Friday, 12 financial institutions including Merrill Lynch & Co., Citigroup Inc., and Bank of America Corp. ...

Harrah's said the National Indian Gaming Commission approved the proposed acquisition of the nation's largest casino company by private-equity firms Apollo Management and Texas Pacific Group.

The Rajasthan State Industrial Development & Investment Corporation (RIICO) is going all out to woo textile firms to set up shop at its proposed garment zone in Bhilwara.

Semiconductor firms see navigation component makers as another bridge to new customers.

TEL AVIV (MarketWatch) - ArcelorMittal, the world's No. 1 steelmaker, announced on Monday two deals, including one in Europe and at least its third in South America this month.

With all manner of electronics being gift wrapped this season, responsible givers might already be wondering what to do with surplus computers, television sets and other gizmos that can harm the environment - and violate privacy - if not disposed of properly....

Firms see the Russian route as an alternative for shipping goods from Asia to Europe. Crisscrossing the vast terrain of Russia's heartland lies 5,600 miles of railway directly linking the booming Chinese market with producers and consumers in Europe eight to 10 time zones away.

The U.S. government disregarded numerous warnings over the past two years about the risks of using Blackwater Worldwide and other private security firms in Iraq, expanding their presence even after a series of shooting incidents showed that the firms were operating with little regulation or...