EU clears SABIC's buy of GE Plastics

(Reuters) - GE Plastics, headquartered in Pittsfield, Massachusetts,
employs 10,300 people in 60 countries and makes resins used in
products ranging from health care equipment to packaging for
consumer goods.




It has major factories in Indiana, New York, West Virginia
and Alabama. In 2006, the division's profit fell 22 percent to
$674 million on slightly higher revenue of $6.65 billion.


Read more at Reuters.com Government Filings News

Rediff.com shares are overpriced - Barron's

(Reuters) - By some estimates Rediff's market capitalization is more
than 13 times the entire Indian online advertising market, from
which the majority of its revenues are earned, Barron's said.




Barron's also said Rediff's grip on its market seems to be
slipping as Web giants Google Inc. and Yahoo Inc.
get a foothold in India.


Read more at Reuters.com Mergers News

Oil Is Little Changed After Report BP Is Starting Unit at Indiana Refinery

(Bloomberg) -- Crude oil was little changed in New
York after a report that 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

KB Home to exit Indianapolis market

(Reuters) - "It's a very small division," she said. "We're
consolidated. We only had small communities in and around
Indianapolis versus, say, the Atlanta metro has 22."




The company currently has 139 homes under construction in
the Indianapolis area, Shaw said.


Read more at Reuters.com Bonds News

Asian Stocks Fall in U.S. Trading as Infosys Shares Drop; LG.Philips Rises

(Bloomberg) -- Asian stocks trading in the U.S.
slipped, led by Infosys Technologies Ltd., on expectation the
Indian software company will report the slowest profit growth in
more than a year.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, fell 1.1 percent to 171.16,
the biggest drop since June 22.


Read more at Bloomberg Stocks News

Crude Oil Climbs on Signs Gasoline Output to Drop Amid Refinery Mishaps

(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 Commodities News

"Losers club" sought to derail India deal-Vodafone

(Reuters) - Arun Sarin, the chief executive of global wireless operator
Vodafone Group Plc , called for greater transparency in
India's merger approval process to defeat backroom efforts by
vested interests to manipulate India's political bureaucracy.




"I really did not expect people -- the 'good and great' of
India -- to be calling cabinet secretaries, ministers, to say,
'You have to unwind this deal, because we want a piece of it,'"
Sarin told a conference of Indian business and academic leaders
taking place in Silicon Valley this weekend.


Read more at Reuters.com Government Filings News

Sugar Falls in New York on Speculation India May Export More Raw Supplies

(Bloomberg) -- Sugar in New York fell on speculation
India, the world's second-biggest producer, may boost exports of
the sweetener.

India's sugar output will rise to 30.4 million metric tons
this year from 20.9 million last year, Ratzeburg, Germany-based
F.O. Licht said in a report this week. India plans to export at
least 500,000 tons of raw sugar between December and March,
Jayanthilal B. Patel, chairman of industry-funded trading firm
Indian Sugar Exim Corp., said last month.


Read more at Bloomberg Commodities News

U.S. Refiners Increase Output of Gasoline, Work Around Equipment Failures

(Bloomberg) -- Refineries are working around plant
bottlenecks to boost gasoline output as government statistics
show they are running at their lowest rate in 19 years.

They are making more gasoline away from the crude processing
units that usually are key to their production, blending in
ethanol and processing cheaper refined products such as vacuum
gasoil. Crude units at plants including BP Plc's Whiting,
Indiana, facility have been down for months for repair.


Read more at Bloomberg Energy News

Egypt shares rise, OT gains over cash influx news

(Reuters) - Egyptian shares rose on Tuesday as the well-watched CASE30 index hit a closing year high led by gains in Orascom Telecom (OT) after it said it would receive a $793 million cash influx, traders said.

OT shares rose 3.8 percent to 77.75 Egyptian pounds after the firm said on Monday it had received the cash from Hutchison Telecom following Hutchison's sale of its Indian subsidiary Hutchison Eassar in May.


Read more at Reuters Africa

Wheat Falls as Farmers Speed Up Winter Crop Harvest in Illinois, Indiana

(Bloomberg) -- Wheat futures fell in Chicago as U.S.
farmers sped up the harvest of the soft-red winter crop.

The harvest was 73 percent complete in Illinois on June 24,
more than the five-year average of 53 percent, the U.S.
Department of Agriculture said last week. Indiana farmers had cut
36 percent of their crops, more than the five-year average of 26
percent. The USDA will update the harvest figures at 4 p.m. today
in Washington.


Read more at Bloomberg Commodities News

UPDATE 2-GM selling Allison for $5.6 bln; shares rise

(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 Bonds News

Mauritius IBL Q1 profit off 37 pct on lack of tuna

(Reuters) - First-quarter profit for Mauritius-based Ireland Blyth Limited fell 37 percent to 36.28 million Mauritius rupees from 57.28 million in the first quarter of 2006, company figures showed on Wednesday.

IBL, one of the Indian Ocean island's largest conglomerates, said a serious and uncommon shortfall in tuna fishing had hit its production of seafood, but a rebound was expected.


Read more at Reuters Africa

Refined Sugar Heads for Biggest Weekly Gain in Six on Euronext in London

(Bloomberg) -- White sugar headed for its biggest
weekly gain in six as speculators bet that rising ethanol
production in Brazil and plans to boost Indian stockpiles would
lift prices.

Ethanol production in the Center-South region of Brazil,
the world's biggest sugar producer, rose 7.4 percent in the
first five months of the year, Reuters reported yesterday,
citing the region's sugar-mill association, Unica. India, the
world's second-biggest sugar producer, will more than double
stockpiles to arrest a slide in prices amid record output,
Finance Minister Palaniappan Chidambaram said yesterday.


Read more at Bloomberg Commodities News

UPDATE 1-Blackstone to buy India back-office firm Intelenet

(Reuters) - The deal could be valued at $200 million, the Economic
Times newspaper said, quoting unnamed sources.




Mumbai-based Intelenet, with 18 centres in India and abroad
and clients in the United States, UK, Australia and India, is
equally owned by British bank Barclays and Indian
mortgage firm Housing Development Finance Corp.
.


Read more at Reuters.com Mergers News