LA port clerks submit "last, best and final" offer

(Reuters) - "I'm not optimistic at all about it," said John Fageaux,
president of the 930-member Local 63 of the Marine Clerks
Association of the International Longshore Warehouse Union.




Stephen Berry, lead negotiator for the shipping companies,
said they were considering the clerks' offer and had committed
to getting back to them by Tuesday. He said the shippers also
submitted an offer to the union on Saturday.


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Mauritius to benefit from cheap Chinese loans - PM

(Reuters) - Mauritius is set to benefit from $113 million in cheap Chinese loans and grants to develop roads and communications, the Indian Ocean island's prime minister said on Saturday.

Speaking to Reuters less than a week after visiting China, Navin Ramgoolam said the trip had also yielded the promise of a series of private sector investments.


Read more at Reuters Africa

UPDATE 1-India's ICICI Bank net rise 25 pct, meets f'cast

(Reuters) - The bank, which is also listed in New York , said its
net profit for the April-June quarter was 7.75 billion rupees
, up from 6.20 billion rupees a year ago.




A Reuters poll of 10 brokerages and analysts had forecast a
24.6 percent rise in net profit to 7.7 billion rupees.


Read more at Reuters.com Market News

European Bond Yields Post Biggest Weekly Drop in 3 1/2 Years as Risks Rise

(Bloomberg) -- European government bonds rallied,
with 10-year yields posting their biggest weekly drop in 3 1/2
years, as the risk of owning corporate debt rose to a two-year
high and investors switched into the safest assets.

Bund yields slid to a seven-week low on concern defaults on
U.S. home loans to people with poor credit histories will spread
to the wider economy. Government debt around the world rose this
week after Bear Stearns Cos. told investors they weren't likely
to get their money back from two of its hedge funds that bet on
securities backed by subprime mortgages.


Read more at Bloomberg Bonds News

Nigerian interbank rates ease on cash release

(Reuters) - Nigerian interbank interest rates dropped to 7.0 percent on average at the short-end of the money market due to public sector cash inflows, ending four weeks of liquidity crunch in the market, dealers said on Friday.

The three benchmark rates -- secured Open Buy Back (OBB), call money and overnight placement -- fell to 7.0 percent each, compared with 10.5 percent for OBB and 12 percent for overnight and call last week.


Read more at Reuters Africa