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FDI cap in defence may be reviewed: Minister (BL)
The 26 per cent cap on foreign investments in the defence sector can be re-considered if found necessary.
Budget may prune excise exemptions (BS)
The finance ministry is looking into the possibility of phasing out some exemptions from the Centre’s excise list in the next Budget.
Finance ministry agrees to pay $2.25 bln oil subsidy (Reuters)
The finance ministry has agreed to pay 100 billion rupees to compensate state oil retailers for selling fuel at below-market prices in the first half of the fiscal year.
Bank credit up Rs 46,707 cr (BL)
Bank credit increased by Rs 46,707.62 crore in the fortnight ended October 8, according to scheduled banks' statement of position released by the RBI.
MFI activities in AP come to a halt (BS)
The activities of microfinance institutions (MFIs) in Andhra Pradesh have come to a grinding halt, following an ordinance issued by the state government.
L&T to tie up Rs 12,000 cr for Hyderabad Metro by March (BL)
Larsen & Toubro plans to achieve financial closure for the Rs 12,132-crore Hyderabad Metro Rail project by March next. Mr R. Shankar Raman, Senior Vice-President (Finance & Legal), said the company was finalising the details.
Power Grid Plans to Raise 15 Billion Rupees Selling Bonds Due in 15 Years (Bloomberg Finance LP)
Power Grid Corp. of India Ltd. sold 15 billion rupees ($338 million) of 15-year, 8.84 percent bonds, according to three people with knowledge of the matter.
Canara Bank Q2 net up 10.7% on interest income growth (BL)
Canara Bank recorded a 10.7% growth in net profit at Rs 1,007.88 crore during the second quarter of this fiscal, achieved on the back of a 52.5% increase in net interest income.
Jet Air's India passenger traffic in Sept up 37 pct (Reuters)
Jet Airways Ltd said its domestic passenger traffic in September grew 37.1 percent over a year ago, while its international traffic rose 36.4 percent.
BHEL bags Rs 34-cr solar power contract from Lakshadweep (BL)
Bharat Heavy Electricals Ltd (BHEL) said on Wednesday it has bagged contracts worth Rs 35 crore to set up grid-interactive solar power plants of 1,100 kW capacity at eight locations in the union territory of Lakshadweep.
ICICI infra fund seeks $750 mln from overseas (Reuters)
ICICI Venture is looking to raise as much as $750 million from overseas investors for its $1 billion infrastructure fund.
State Bank raises base rate 10 bps to 7.60% (BL)
Striking a balance between wanting to attract more borrowers into its fold and the need to pass on the increased cost of mobilising resources, State Bank of India has nudged its base rate up by 10 basis points to 7.60 per cent.
Tata Chemicals to buy South Africa's Grown Energy (Reuters)
Tata Chemicals said on Wednesday it has signed a share purchase agreement to buy 100 percent equity of South Africa-based firm Grown Energy Pty for $1.1 million.
Record sales push Leyland's net up 89% (BS)
Ashok Leyland, reported 89 per cent growth in net profit to Rs 167 crore during the second quarter of this financial year, as compared to Rs 88.6 crore, during the same period last year.
OIL presents dividend cheque (BL)
Oil India Ltd (OIL) has presented a cheque for Rs 301.76 crore to the Union Government, as the final dividend at the rate of 160 per cent for the fiscal 2009-10.
Fed: U.S. Economy Expands at `Modest Pace' in Sept. (Bloomberg Finance LP)
Fed said the U.S. economy expanded at a “modest pace” in September and early October with little sign of accelerating and companies still hesitant to hire.
IMF's Lipsky Says China Could Raise Borrowing Costs Further to Tame Prices (Bloomberg Finance LP)
China could continue its efforts to tame inflation by raising interest rates in tandem with other economic policies.
U.S. Mortgage Applications Fall by the Most in Four Months as Rates Rise (Bloomberg Finance LP)
The number of mortgage applications in the U.S. dropped last week by the most in four months, led by a decrease in refinancing as mortgage rates rose.
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