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News Headlines
Dec WPI seen rising to 8.35 pct (Reuters)
India's wholesale price index in Dec. probably rose 8.35% from a year earlier,
accelerating from from Nov.'s 12-month low of 7.4%, med. Forecasts.
Inflation, uncertain global environment main concerns: Pranab (ET)
Finance Minister said high inflation and uncertain global environment are main
concerns faced by the Indian econ., but exuded confidence that the gov’t would
tackle them.
India gold festival buying retreats amid lack of supplies (Reuters)
India gold buying retreated as prices recovered partly from their lowest level in nearly
a week, as supply situation is expected to remain tight until next week, dealers said.
Telecoms ministry allows video phone calls (Reuters)
The telecoms ministry said on Thursday it has allowed mobile carriers to offer video
calls on their third-generation networks, on condition that they would provide
interception capabilities by July 31.
Continued rise of crude oil price a growing worry (BS)
As policymakers struggle to combat rising food inflation, the country is faced with
another big concern, of crude oil touching a 27-month high of $95.26 per barrel.
Deposit growth jumps 16.4% at Dec quarter end (BS)
Aggressive deposit rate hikes and bulk deposits towards the end of the third quarter
helped the banking system push up deposit growth.
RIL to foray into cement sector (ET)
Mukesh Ambani-led Reliance Industries will foray into cement sector. The company
signed an agreement to invest in a 5-million-tonne cement project that would come
up in Kutch district of Gujarat.
PNB restructures insurance, MF joint ventures (ET)
Punjab National Bank restructured its insurance and mutual fund joint ventures by
buying out its partners' stake from the insurance venture and selling its entire stake in
the mutual fund joint venture, the bank said in a release on Thursday.
GVK Power to develop 7kcr LNG terminal at Jamnagar (ET)
GVK Power and Infra. has inked an agreement with the state gov’t for developing a
new terminal for importing gas at Okhamadhi in Jamnagar district of the state.
Andhra Pragathi bank posts Rs 121.88 cr net in Q3 (BL)
Andhra Pragathi Grameena Bank recorded a net profit of Rs 121.88 crore in the 3Q
this fiscal, which is highest among all the regional rural banks in the country.
Abhijeet Power to file for $333 mln IPO by early-Feb (Reuters)
Nagpur-based Abhijeet Power is in advanced stages of seeking regulatory approval
for an initial public offering of up to 15 billion rupees and expects to file papers by
early February, a senior official told Reuters.
BPCL to process 22 pct more oil in 2011/12 as new plant starts (Reuters)
State-run Bharat Petroleum Corp (BPCL) will process 22 percent more crude oil in the
fiscal year beginning April 1 as it starts commercial production at a new refinery to
feed the nation's growing energy demand.
TTL to invest Rs 500 cr for expansion of 3G roll out in Gujarat (ET)
Tata Teleservices Limited(TTL) has signed an agreement with the Gujarat government
to invest Rs 500 crore for expanding its 3G roll out in the state.
Govt to set up panel to decide on coal mining area (Reuters)
The government has decided to set up a panel of ministers to identify the areas for
coal mining, Coal Minister Sriprakash Jaiswal told reporters on Thursday.
Govt to ban exports of wheat products (Reuters)
The government may ban wheat product exports in a series of measures to tame
spiralling food prices that have fuelled rapid inflation and increased pressure on an
embattled ruling Congress party, local media said.
Trade Deficit in U.S. Unexpectedly Narrows to 10-Month Low (Bloomberg
Finance LP)
The U.S. trade deficit unexpectedly shrank in November as growing global demand
and a weaker dollar help boost overseas sales of everything from aircraft to cotton.
China's Rising Inflation May Ease U.S. Pressure on Yuan at Hu-Obama Summit
(Bloomberg Finance LP)
Rising inflation in China that is causing headaches for President Hu Jintao at home
may help relieve tensions with the U.S. over the yuan as he prepares to meet
President Barack Obama in Washington next week.
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