News

News Snippets:
A nine company consortium including Bharti Airtel and VSNL, will build a high capacity fibre optic submarine cable from India to France via Egypt and Italy. (FE)
IOC may seek board approval for its Rs50bn Haldia paraxylene plant. (BL)
L&T plans to invest US$5bn on power generation business; targets 5,000MW capacity in next five years. (DNA)
SCI may invest US$800mn in its shipbuilding foray. (BS)
Tata Motors subsidiary, TAL Manufacturing Solutions, to make floor beam for Boeing’s 787 Dreamliner aircraft. (Mint)
Ispat Group has acquired two coal blocks in Mozambique. (BS)
Arvind Mills may demerge its brands and apparel retailing businesses in to separate companies. (DNA)
Mundra Port to invest Rs100bn to raise cargo capacity. (FE)
Ranbaxy Laboratories gets US FDA approval to manufacture and market a paediatric drug. (BS)
Vedanta plans Rs60bn plant in Bengal. (TOI)
Tata Group plans to foray into retail broking business. (BL)
Mercator Lines to acquire three dredgers for US$100mn in the next six months. (BS)
Central Bank of India may reduce retail loan rates by 50bps. (BL)Sintex Industries raises Rs6bn through a QIP issue. (FE)
Vijaya Bank may acquire a bank in northern or western India. (BL)
Bhushan Steel to invest Rs260bn to build a 12mn tons capacity in West Bengal, Jharkhand and Orissa. (BS)
ICICI Bank is not likely to cut interest rates in near term (BL)
Maruti Suzuki India to export 250,000 cars from Mundra port. (TOI) Economic Front Page:
3G licenses could raise US$5bn for the government in the first year itself. (Mint)
The Union Cabinet is unlikely to hike fuel prices this week. (BL)
According to the Director General of Hydrocarbons (DGH), India has 2,000 tons of cubic ft gas hydrates pool. (FE)
The Government may cut excise duty on power equipments and other inputs from 16% to 8% in the upcoming Budget. (ET)
India’s domestic Information Communication Technology market may reach US$24bn by 2011, according to Gartner Inc. (Mint)
The Government seeks $500mn ADB loans for Indian Railways expansion plans. (BL)
The Government may consider a profit reserve plan to offset losses incurred by exporters due to rupee appreciation. (FE)
Airport hotels in Delhi may miss the November 2010 target. (Mint)
Stationery goods, electrical appliances and 46 other products may be removed from small scale industries list. (ET)
TRAI likely to recommend more FDI in FM radio segment. (FE)