23 March 2011

23 March 2011 -News Headlines :Deutsche Bank

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News Headlines
RBI says to contain inflation, not hurt growth (Reuters)
The Reserve Bank of India (RBI) will do everything possible to ensure inflation is
contained without hurting growth, Governor Duvvuri Subbarao said on Tuesday.
Govt moves bill to relax voting rights in pvt banks (Reuters)
The government on Tuesday sought parliamentary approval to amend a banking law
for allowing investors in private banks to have voting rights proportional to their
shareholdings, a long-awaited move to help grow the sector.
Government moves GST bill in parliament (Reuters)
The government introduced a nationwide Goods and Services Tax (GST) bill into
parliament on Tuesday, but opposition to the move threatened to derail one what is
one of the UPA’s most ambitious reforms of its second term.
India to finalise FY12 govt borrowing schedule on March 25 (Reuters)
The finance ministry and Reserve Bank officials will meet on March 25 to finalise the
government borrowing schedule for the first half of next fiscal year.
RBI says prefers stable, long-term FDI (Reuters)
The Reserve Bank of India prefers long-term and stable flows through foreign direct
investment into the country over short-term foreign institutional investment, Governor
Duvvuri Subbarao said on Tuesday.
State oil cos' daily sales rev loss at 4.08 bln rupees (Reuters)
India's state-run oil firms were suffering a daily revenue loss of 4.08 billion rupees on
selling fuel at cheaper rates, the finance head of a state-run oil company said on
Tuesday, as local prices have not been revised in line with global oil prices.
Telcos reach consensus only on four of 15 policy changes (ET)
Mobile phone companies have found consensus on only four of the 15 policy
changes that have been proposed by telecom minister Kapil Sibal.
Textile companies: Better prices, demand to benefit yarn producers (ET)
Increasing cotton prices may hamper textile companies' earnings growth. Yarn
producing companies , however, may be able to tackle the rising input costs.
Cairn lifts hopes of Indian nod for Vedanta deal (Reuters)
Cairn Energy Plc raised expectations of Indian approval for the long-delayed sale of a
stake in its Indian business to Vedanta Resources.
HPCL source says sees Iran oil imports in April (Reuters)
There is still no clarity on how India will pay for Iranian oil imports but supplies for
April from the Islamic country is expected to continue, a source at one of India's top
refiners HPCL said on Tuesday.
Tata Power, Sunengy in pact for solar plant in India (Reuters)
Tata Power and Australia's Sunengy have entered into a partnership to build the first
floating solar power plant in India, the companies said in a statement on Tuesday.
Bafna in pact to buy Raricap trademark from Johnson & Johnson (Reuters)
Bafna Pharmaceuticals Ltd said it has signed an agreement with an affiliate of
Johnson & Johnson.
Elder Pharma to raise 1.05 bln rupees via bonds (Reuters)
Indian drugmaker Elder Pharmaceuticals plans to raise 1.05 billion rupees through 7-
year bonds at 11.25 percent.
Jindal Saw to buy logistic firm to ramp up scale (Reuters)
Steel pipemaker Jindal Saw Ltd is in talks to acquire a logistic firm that operates
container trains and owns terminals for about 1-1.5 billion rupees and expects to
close the deal in three months, its managing director said on Tuesday.
Reliance Industries plant unit may start Wednesday (Reuters)
A fluid catalytic cracker (FCC) at India's Reliance Industries' old plant could start
product output from Wednesday, an industry source said.
U.K. Inflation Accelerates More Than Forecast to Fastest Pace in Two Years
(Bloomberg Finance LP)
U.K. inflation accelerated more than economists forecast in February to the fastest
pace in more than two years.
Portugal Says 2011 GDP Will Fall as Investment, Government Spending Drop
(Bloomberg Finance LP)
The Portuguese government forecasts the economy will contract this year as
investment declines and it cuts spending to narrow the budget deficit.
Fed officials see U.S. recovery taking hold (Bloomberg Finance LP)
The U.S. recovery is gaining traction, two top Federal Reserve officials said on
Tuesday, though they differed on the risks of inflation in the U.S. economy.

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