Grand, ATG sign merger deeds: Grand Hotel Group (GHG) and Australian Tourism Group (ATG) said on Wednesday they have signed the merger implementation deed for the proposed merger of the two hotel groups. The companies said the merger, which will take place by way of a scheme of arrangement, is subject to the approval of the Supreme Court of New South Wales. ATG shareholders would vote on the merger at a meeting to beheld on or about July 17, 1998.Commercial negotiations with Touraust Corp, the lessee of the existing ATG hotels, had been completed to reflect the separation of the responsibilities of the lessee and the fund manager, the companies said.

SkyePharma to issue $50m new shares: British drugs group SkyePharma Plc said on Wednesday that it intends to go-ahead with an offering in the United States and plans to issue up to 36 million new shares and raise up to 31 million pounds ($50 million). "The proposed equity offering will enable our company to take advantage of opportunities to expand the depth and breadth of our drug delivery technologies," chairman and chief executive Ian Gowrie-Smith said in a statement. He said that the offering would also raise SkyePharma's profilein the United States.

Over 1,000 killed in Indonesia riots: Indonesia's official Human Rights Body said on Wednesday that 1,188 people were killed in rioting which ravaged the capital Jakarta last month, more than double the death toll given by themilitary.

The National Commission on Human Rights said thousands of shops, offices and vehicles were burned, women were raped and at least 101 people were injured. But it gave no details on the causes of the deaths or injuries.

``The National Human Rights Commission has received quantitative reports of the material losses as a result of the riots that were very shocking, including the burning of 40 shopping centres, 2,479 shop houses and 1,604 houses which were previously looted,'' it said in a report sent to Reuters.