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THE INDIAN government has postponed the sale of GDRs for Container Corporation of India (Concor) but will press ahead with a sale in the domestic market and will retain Warburg Dillon Read in the lead manager role. Bankers said that the deal could take place rapidly, although they were uncertain over whether an agreement had been reached on pricing. Previous efforts to sell Concor shares have been scuppered by the government's determination to price close to the market level, despite a tiny free float artificially inflating share prices.

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* Julie Roach has returned to London to take up the appointment as head of debt origination at HSBC Markets in London, covering the UK, Europe and emerging markets.

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Asset backed securities: * Dutch MBS 98-1 BV

Argentina * Republic of Argentina

* The new German government has decided to privatise Tak & Rast, a large chain of motorway service stations and restaurants. It will be sold to a consortium led by Allianz, the insurance group, for up to DM1.5bn ($860m), a move that would help plug gaps in the federal budget. This deal is part of a trend by vendors to sell assets either to long term financial investors or strategic partners if they would not attract fair valuations in the unpredictable stockmarket conditions.

By Eugéne Ballara and Toby Fildes

GAZPROM is rumbling back into the market looking for $2bn of new money. The debt is to support the development of a 1,200km pipeline -- called Blue Stream --from Russia's Black Sea region to the Turkish coast transporting gas.

* Caisse Centrale du Crédit Immobilier de France -- 3CIF Rating: A1/AA-/AA-

DID A SMALL tidal wave hit JP Morgan in London this week? As we were going to press we heard that no less that 80 wretched unfortunates had been swept away and drowned. Life boats are still searching but the coast guards are not optimistic. Demand for water-wings among JPM staff has been frantic and the most popular song request on 'Radio Morgan' has been the hymn For Those in Peril on the Sea.

* BGB Finance (Ireland) plc Guarantor: Bankgesellschaft Berlin AG, Berliner Bank AG, Landesbank Berlin Girozentrale