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Corporate Front Page:
- Strong differences have emerged between NMDC and MMTC over long-term supply pact of iron ore to Japanese mills, with the former opposing the idea fearing lower realizations and the latter pitching for it. (BS)
- ONGC and GAIL reached an understanding for mutual business growth covering natural gas and petro-chemicals. (BL)
- NTPC has put on fast track the process of procuring equipment for the first unit of the 4,000 MW supercritical coal-based thermal power station at Kudgi in Bijapur district. (BS)
- Kraft sues Britannia Industries for trademark and copyright violations of its popular Oreo cookies. (ET)
- Reliance Power Ltd plans to take its renewable energy capacity to 1,000 MW in next two-three years. (BL)
- Reliance MediaWorks through Reliance Capital acquired 31.92% stake in Fame India through its open offer. (BL)
- Jindal SAW Ltd has executed a mining lease agreement for 30 years with Rajasthan for iron ore mines in the State. (BL)
- Lanco Infratech plans to borrow from Chinese banks, joining rivals in seeking cheaper funds for equipment contracts for plants. (ET)
- Suzlon Energy is in talks with Gamesa Corporacion Tecnologica of Spain for a strategic alliance. (BS)
- Natco Pharma has sought a voluntary license from Pfizer to make and sell copies of the US company’s HIV drug in India. (ET)
- Ashok Leyland has hired top expat executives from global automobile companies. (ET)
- Lakshmi Vilas Bank eyes QIP in February-March to improve its capital adequacy ratio and raise capital to fund growth. (BS)
- BPCL has granted Kingfisher Airlines a three-month reprieve to pay jet fuel dues. (BS)
- Great Eastern Shipping expects to raise Rs1bn via issue of 12-year bonds later this week. (ET)
- Diamond Power Infrastructure has bagged orders from Power Grid Corporation of India and SMO-SPIC for supply of 400 KV D/C line conductors. (ET)
- UTV Software Communications said its founder has sold his 1.09% stake in the company for Rs251mn through an open market transaction. (FE)
Economy Front Page:
- FDI Inflows slip 7% to US$1.6bn in November. (ET)
- The Union Ministry of Mines has asked its counterparts at the state level to set a timeframe for mining lease holders to complete exploration activities in blocks awarded to them. (ET)
- Fertilizer companies could get Rs9bn every year for next three years as a part of a package to improve efficiency in the sector. (ET)
- Strong domestic demand will enable the Indian economy to register an average annual growth of 8.4% during next five fiscals, ratings agency Crisil said. (FE)
- Truck rentals during calendar year 2010 rose by 24-40% on trunk routes, with robust manufacturing growth and high consumer spending. (BS)
- The Cabinet Committee on Economic Affairs has revised the project cost of the 60 MW Tuirial Hydro Electric Project to Rs9.14bn due to delay in resumption of work. (BS)
- Trade between India and Iran is set to undergo a paradigm shift, even as the RBI is determined to stop making payments through dollars or euros under the Iran-based payment system or the Asian Clearing Union. (BS)
- Banks’ borrowing under the liquidity adjustment facility fell to a month’s low of Rs681.5bn. (BS)
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