31 March 2011

31 March 2011: News Headlines: Deutsche Bank,

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News Headlines
RBI: NBFCs cannot be partners in partnership firms (Reuters)
The Reserve Bank of India on Wednesday said non-banking financial companies (NBFCs) can no longer become partners in any partnership firms and should seek 'early retirement' in cases where they already are in such a position.
RBI: States should have better cash flow monitoring (Reuters)
State governments need to formulate better mechanisms to estimate their cash flows so that they need to borrow from the market only when required, the Reserve Bank of India (RBI) said in a study on Wednesday.
Trade pacts: India targets deals with Thailand & Indonesia now (ET)
India is looking to wrap up comprehensive trade pacts with Thailand and Indonesia, eyeing the lucrative health, edu. and accountancy sectors in the two Asean nations.
Lower D6 output may choke gas supply to steel firms, refineries (BS)
With gas production from Reliance Industries Ltd’s (RIL’s) prolific D6 field falling, the supply to refinery, petrochemical and steel companies is expected to be cut.
EU countries clear water for Indian pharma firms to anchor (BS)
European countries are trying to woo back the Indian customers they had lost following seizure of drug consignments by Customs authorities of several European Union members.
Government to award small coal blocks to cos of host states (ET)
The government will award small coal blocks to mining utilities of host states to feed the fuel needs of local industries, a senior coal ministry official said.
Govt may allow limited wheat export despite stocks (Reuters)
Possible wheat exports from India, the world's second-biggest producer, may be capped despite huge stocks and tight supplies elsewhere that have pushed up prices, experts said.
IOC to shut kerosene unit from mid-April (Reuters)
Indian Oil Corp (IOC) plans to shut a kerosene unit at its Haldia refinery for maintenance from mid-April, a company source said on Wednesday, prompting the firm to float a rare jet fuel tender.
Russia gets stake in Sistema's India mobile unit (Reuters)
Russian oil-to-telecoms group Sistema's Indian mobile unit said on Wednesday it had completed allotment of shares to a Russian government agency in return for a previously announced about $600 million investment in the company.
Nalco may hike aluminium prices by Rs 2-3,000/tn in April (ET)
Nalco is likely to increase the price of the metal by Rs 2,000-3,000 a tonne with effect from April, in sync with firming global prices.
Apollo Tyres to hike prices by up to 6 % from April (ET)
Apollo Tyres today said it will hike prices of its products by up to 6 per cent from April to offset spiralling raw material costs.
Cairn sees Rs 6,600-cr net in first full year of production (ET)
Cairn India will complete the first full year of producing oil from its Rajasthan block with a net profit of about Rs 6,600 crore on March 31.
Expansion to help Kajaria win with a big margin (ET)
The spectacular earnings growth seen in the past couple of years is set to sustain for India's leading ceramic tile manufacturer Kajaria Ceramics in FY12 as well.
HDFC Bank opens 275 branches this fiscal (ET)
In a bid to increase its footprint, the country's second largest lender HDFC Bank opened 275 branches in the current fiscal taking its total network to 2,000.
Global Economic Recovery Facing `Considerable' Risks, IMF's Shinohara Says (Bloomberg Finance LP)
The global economic recovery faces “considerable downside risks,” deputy managing director of the Washington-based International Monetary Fund.
Consumer Confidence in Euro Region Declines More Than Economists Forecast (Bloomberg Finance LP)
European confidence in the economic outlook orsened in March, after surging energy costs and Japan’s earthquake clouded global growth prospects.
G-20 Criticism of Fed May Be Muted as Japan Crisis, Portugal Slow Economy (Bloomberg Finance LP)
U.S. Treasury Secretary Timothy F. Geithner, French President Nicolas Sarkozy, Chinese Vice Premier Wang Qishan and European Central Bank President Jean-Claude Trichet will gather in Nanjing for a one-day seminar on the international monetary system tomorrow.

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