ICICI Hires 10 Arrangers for Yen Loan in Biggest Borrowing by Indian Bank

(Bloomberg) -- ICICI Bank Ltd. hired Goldman Sachs
Group Inc. and Calyon among 10 firms to arrange the biggest
borrowing by an Indian bank.

ICICI, India's largest lender to consumers, is seeking a
yen-denominated loan equivalent to $1.5 billion, said Calyon, the
investment-banking unit of Credit Agricole SA, in an e-mailed
statement today. HSBC Holdings Plc and Natexis Banques Populaires
are also among the arrangers that will invite other banks to join
the financing, according to the statement.


Read more at Bloomberg Bonds News

Indian Oil Buys Crude From Chevron, Mitsui, Petronas for September Loading

(Bloomberg) -- Indian Oil Corp., the country's
biggest refiner, bought crude oil for loading in September from
Chevron Corp., Mitsui & Co. and Petroliam Nasional Bhd., said
three traders who submitted offers.

Details of the refiner's purchases are as follows:


Read more at Bloomberg Energy News

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

Alcan agrees to sell Utkal alumina venture stake

(Reuters) - Alcan did not disclose terms of the transaction, which it expects to close in the third quarter of 2007. Hindalco owns the other 55 percent of Utkal, which was established in 1992 to develop a new bauxite mine and alumina refinery in the Indian state of Orissa.







Read more at Reuters.com Mergers News

Oil Falls on Report BP Is Starting Unit at Refinery in Whiting, Indiana

(Bloomberg) -- Crude oil and gasoline fell in New
York on a report BP Plc will begin startup today of a unit at
its Whiting, Indiana, refinery, the biggest in the Midwest.

The 235,000 barrel-a-day crude unit, which was shut July 9
for unplanned maintenance, is expected to be at full rates by
next week, a person familiar with the plant's status said. The
refinery can normally process more than 400,000 barrels of oil a
day. The unit had been expected to start up this weekend.


Read more at Bloomberg Energy News

Oil Trades Near 10-Month High After Gaining on Higher U.S. Gasoline Price

(Bloomberg) -- Crude oil was little changed in New
York, after rising yesterday as gasoline prices climbed on
speculation U.S. output of the fuel may slow due to unplanned
refinery shutdowns.

BP Plc closed the largest of three crude units at its
refinery in Whiting, Indiana, a person familiar with the plant
said July 9. The refinery, the biggest in the Midwest, supplies
consumers in the Chicago area. Refineries in Texas and Kansas
shut units last week. Refinery operating rates rose to 90 percent
of capacity in the week ended June 29 to meet demand.


Read more at Bloomberg Energy News

Oil Rises in New York Expectations of Decline in U.S. Gasoline Production

(Bloomberg) -- Crude oil rose, pulled higher by
gasoline on speculation that U.S. output of the fuel will slow
because of unexpected refinery shutdowns.

BP Plc closed the largest of three crude units at its
refinery in Whiting, Indiana, a person familiar with the plant
said yesterday. The refinery, the biggest in the Midwest,
supplies consumers in the Chicago area. Refineries in Texas and
Kansas shut units last week. The crude-oil market often follows
gasoline during the summer months, when motor-fuel demand peaks.


Read more at Bloomberg Energy News

BP Shuts Largest Crude Unit at Whiting Refinery in Indiana, Person Says

(Bloomberg) -- BP Plc is shutting down the largest
of three crude units at its Whiting, Indiana, refinery, the
biggest refinery in the U.S. Midwest, a person familiar with the
plant's status said.

The unit, which can process 250,000 barrels of oil a day,
is being shut for unplanned maintenance, the person said. A date
for the restart of the unit has not been determined.


Read more at Bloomberg Energy News

India steel glut to trim S.Africa coal demand

(Reuters) - Indian demand for South African coal is set to drop, threatening sharply lower prices, as iron makers there cut back, hit by falling prices in the steel market they supply and rising costs for imported coal.

India's sponge iron makers, who use coal as part of a process to make iron from ore, have relied increasingly on imported South African coal in recent years.


Read more at Reuters Africa

DLF Rises on Debut in Mumbai After Record Initial Share Sale Last Month

(Bloomberg) -- Shares of DLF Ltd., the Indian
property developer controlled by billionaire Kushal Pal Singh,
rose 8 percent on listing, lifted by demand from investors who
missed out on the country's biggest initial stock sale.

The stock debuted today at 568.80 rupees on the Bombay
Stock Exchange at 9:55 a.m., 43.80 rupees more than the IPO
price. DLF traded at 546.5 rupees, up 4.1 percent, at 11:33 a.m.,
valuing the New Delhi-based developer at 923 billion rupees ($23
billion).


Read more at Bloomberg Emerging Markets News

DLF Shares May Rise on Debut After Record India Initial Sale Last Month

(Bloomberg) -- Shares of DLF Ltd., the Indian
property developer that raised $2.3 billion last month, may rise
on demand from investors who missed out on the country's biggest
initial stock sale.

The company controlled by billionaire Kushal Pal Singh may
debut today at 555 rupees ($13.72), 30 rupees higher than its IPO
price, according to the median estimate from five analysts and
investors surveyed by Bloomberg. The New Delhi-based developer
received orders for more than three times the shares offered.


Read more at Bloomberg Emerging Markets News

UPDATE 1-GM selling Allison Transmission for $5.6 billion

(Reuters) - GM said the sale would include almost all of the Allison
Transmission unit's assets, including seven manufacturing
plants in Indianapolis and the unit's worldwide distribution
network.




GM had said in January that it was looking to sell Allison,
which makes transmissions for commercial trucks, buses and
military vehicles.


Read more at Reuters.com Mergers News

Corn Declines on Speculation Midwest Rains to Boost U.S. Crop Production

(Bloomberg) -- Corn fell to the lowest in more than
two weeks in Chicago on speculation that Midwest rains in the
past week revived plants and will boost production.

As much as 2 inches (5.1 centimeters) of rain fell in parts
of Iowa and Illinois in the past three days with most areas from
South Dakota to Indiana getting at least 0.5 inch, the National
Weather Service said. An additional inch may fall from Missouri
to Ohio in the next five days, the government forecaster said.
Corn, the biggest U.S. crop, tumbled 8.9 percent last week.


Read more at Bloomberg Commodities News

India would welcome Airbus assembly plant

(Reuters) - Airbus agreed last year to set up an assembly line for the
A320 family in China from 2009 to meet strong demand. India's
aviation market is also witnessing rapid expansion.




"I would be very happy to see that," Indian Civil Aviation
Minister Praful Patel told reporters, asked whether Airbus
should consider opening an assembly line in India.


Read more at Reuters.com Mergers News