Business notebook

Mainland plans: Boston buyout firm Bain Capital LLC plans to open an office in Shanghai before raising an Asia fund, prompted by the growing size of deals in the region.

R&D with P&G: Curis Inc. of Cambridge signed a research and development agreement worth at least $500,000 with Procter & Gamble's pharmaceutical subsidiary to develop products using Curis's hair-growth technology.

Storm damage: Canadian insurer Manulife Financial estimates it will book an after-tax charge of $165 million in the third quarter for losses related to Hurricane Katrina.

Energy pact: Norsk Hydro, a Norwegian petroleum and aluminum producer, said it agreed to buy US-based oil and gas company Spinnaker Exploration for $2.45 billion. Hydro said it will pay $65.50 per share in cash for all outstanding common shares and options, a 34 percent premium to the Friday closing price.

Permission granted: Two Indian drug makers and Roxane Laboratories of Columbus, Ohio, won US approval to sell the first generic versions of GlaxoSmithKline's Retrovir pediatric medicine to treat the virus that causes AIDS, regulators said.

Concessions: ATA Airlines, which is seeking a $100 million investment to help it exit bankruptcy, reached agreement with its pilots on 18 percent pay cuts that the union said will save the company more than $84.5 million.

(Globe wire services)