Chase-JF firm to have new head
Chase Manhattan Bank and Jardine Fleming (JF) have announced that Chase's senior country officer for India and South Asia, Anil Bhalla will be the India country manager for the new company. Jardine Fleming managing director and head of broking business, Robert Gibson will focus on developing the combined group's equity broking business in India.

Bank of Punjab to open new branches
Bank of Punjab has announced its plans to open new branches in Madras, Hyderabad, Mumbai, Calcutta and Bangalore. With this the bank will extend its presence to the eastern and southern parts of the country. The bank also plans to open new branches in Hoshiapur, Pathankot, Khanna and Ludhiana.

SHCIL signs pact with Citibank
Stock Holding Corporation of India (SHCIL) and Citibank have signed an alliance to provide financial products to investors. The tie-up is aimed at developing synergies from the respective core competence areas of SHCIL and Citibank.

Massive Brazilian oil spill contained
A massive oil spill creeping up the scenic Iguazu river has been contained, avoiding contamination of famed waterfalls downstream, according to the state oil company Petrobras. "The oil is contained by a number of barriers and other equipment installed at eight points on the river," the company said in a statement. According to the statement, half of the four million litres of oil was contained within the refinery area, "about 341 thousand liters has been collected by clean-up workers, and 20 to 30 per cent had evaporated." The company said it will take technicians some 10 days to clean the oil from the river. Late Sunday, a Petrobras pipeline burst, sending crude oilinto a tributary of the Iguazu river, sparking Brazil's worst oil spill in 25 years. The massive slick headed towards the spectacular falls of Iguazu some 600 km downstream.

Sugar dips on lack of buying
Sugar mill gate prices turned weak on the primary sugar market in Delhi today due to slackness in demand. However, sugar at whole-sale market maintained overnight closing levels on sporadic demand. According to marketmen, as compared to demand the sugarstocks was sufficient so the prices dipped marginally. Sugar Sakoti, Biznor, Amroha and Kiccha all went down by Rs 5 each to settle at Rs 1460, Rs 1445, Rs 1445 and Rs 1430 a quintal respectively of reduced offtake. However, on the other hand duty paid sugar Samali went up by Rs 20 to close at Rs 1590 a quintal. Following were today"s quotations in Rs per quintal: sugar ready M-30 1575-1600, S-30 1565-1585, Sugar mill delivery M-30 1435-1500, S-30 1425-1455, Sulphor bold 1500-1525, mini medium 1445-1465, dust 1435-1445, cutting 1380-1435 and Khandsari crusher 1435-1445. Sugar mill gate price: Sakoti 1460, Mawana 1500, Bulandshaher 1460, Biznor 1445, Amroha 1445, Kiccha 1430, Mozil pur 1455, Modi Nagar 1500 and duty paid Samali 1590.

-- (Reuters & Agencies)