Canada: CN and CPR both claimed 1997 to be their best year to date. CN’s performance included a profit of C$421m, while CPR made a profit contribution of C$469m to CP group’s overall record C$1·26bn.

Europe: GEC Alsthom has appointed Credit Suisse First Boston and Goldmann Sachs to manage its flotation this year, which is expected to raise £4bn.

Eurofima’s 1997 results reveal a profit increase of 11% to SFr57·4m; assets increased by 2·9% to SFr33·2bn.

Hungary: MAV has agreed a DM112m loan from Kreditanstalt für Wiederaufbau to fund its new data network (RG 1.98 p54).

Sri Lanka: Pakistan has provided US$5m credit for SLR to buy 40 passenger coaches from PR.

USA: Pennsylvania’s general assembly has released $150m to buy four ’high speed’ DMU trainsets for the Harrisburg - Philadelphia Keystone service.

Chicago Transit Authority is to sell its recently renovated Green line to an investment syndicate and lease it back, raising $40m to finance urgent capital improvements.

First American Railways Inc has completed the first stage of a private placement of common stock to provide working capital.