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Corporate Economy Expressions Markets Leisure 10 January 1998   IOC lines up $650m loans to tide over crisis Indian Oil Corporation (IOC) has lined up a total of $ 650 million FCNR(B) loans from major Indian banks to tide over the difficulty of raising dollars from the volatile domestic forex market. The oil major, which is the prime mover of the forex market by its dollar purchases, is yet to draw down on these new loans.   Whirlpool of India goes in for recast, merges two divisions Inundated with unsold refrigerators' pile-up, Whirlpool of India has decided to merge its sales and service divisions into a common operational wing, kicking off its organisational recamp. The company has also announced the resignation of its vice-president sales Sunder Hemranjani. Philip Software plans to set up second unit in Bangalore Philips Software (P) has decided to set up its second software centre in Bangalore alongside its existing facility. The company has envisaged an investment plan of Rs 8 crore for the second unit whose main focus will be on digital technology like creative display. The unit is likely to commence operations by April-May this year. Allahabad Bank hopes to reduce NPA level to 10% Allahabad Bank is expected to bring down its non-performing assets (NPA) from its present level of 14.84% to below 10% within the next two years. The bank has appointed a high-level committee on the job to bring it down to avail of the newly announced autonomy package by the ministry of finance. The NPA is the only barrier in the bank's eligibility to get autonomy.   Boeing Co to keep producing MD-95 as 717-200 models Boeing Co plans to market the 100-seat MD-95 inherited last year in its purchase of McDonnell Douglas Corp as the Boeing 717-200 regional jet. Boeing had left the twin-engine model's fate undetermined when it announced in November that it would phase out production of the MD-80 and MD-90 models while continuing to offer the MD-11 chiefly as a freighter. British Aerospace may reduce Orange stake British Aerospace Plc is likely to reduce its stake to below 20% in Orange Plc, Britain's third biggest mobile telephone company. However, in an attempt to quell market speculation that Orange's shares could face a substantial stock overhang, the company does not plan for any immediate disposals.     "ITC sacrificed Rs 125 crore in merger deal"   Balco proposes capital restructuring before disinvestment   Durgapur Steel Plant achieves 89% rated capacity   Hoffland associate lures investors with high rates   Matsushita Elec set to launch smallest DVD player   Marketplace Briefing   Philips to shift electronics' wing to Pune   AT&T Corp sees $1.5 bn in merger synergies   Corporate Briefing   MTNL gets support from "consumer forum" in cellular service plan   World briefing