Business news for Mon, 31 Dec 2007 & with word projects. 3 news.

LONDON (MarketWatch) -- Kirk Kerkorian's Tracinda is going to buy 35% of Delta Petroleum for $684 million, or $19 a share, the companies said Monday. The investment is at 23% premium to Friday's close. This transaction will allow Delta Petroleum to accelerate development drilling activities in its core areas, including the Piceance and Paradox Basins. "Under (CEO) Roger (Parker's) leadership, Delta Petroleum has become a very important company in the industry, with valuable resource plays, a strong asset base and well-positioned exploration projects that we believe hold significant growth potential," Tracinda said.

Real estate booms in Egypt, including major suburban projects being built on scrubland. A quick glance at the advertisements crowding the pages of many Egyptian newspapers is enough to reveal that real estate is one of the most active sectors of the economy.

Western chemical firms are looking into coal-to-chemical projects in China, fighting to keep their competitive edge.