28 June 2011

News This Week Economics &Corporate ::BofA Merrill Lynch,

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News This Week
Economics
„ A 1983 double taxation avoidance treaty, which states companies originating
in Mauritius won't face capital gains tax in India, is being renegotiated by the
Indian government to plug a loophole exploited by businesses without roots
in Mauritius. – Media
„ Cumulative rainfall was excess/normal in 26 and deficient/ scanty in 10 out of
36 meteorological sub-divisions with overall rainfall in country above 11% of
Long Period Average- Media
„ Fuel EGoM meet is expected to review diesel and LPG prices on Friday in a
bid to cut down the rising losses of oil marketing companies. - Media
Corporate
„ SpiceJet has sought the RBI of India's nod to raise $270mn from Canada's
export finance agency EDC for financing fleet expansion. – Media
„ Accenture Plc reported earnings that beat Wall Street estimates and it raised
its annual earnings forecast. –Media
„ Perdaman Ind has dragged Lanco Infra to court in Australia seeking a A$
3.5bn compensation for not complying with coal supply. -Media
„ No. of passengers carried by domestic carriers in Jan-May rose 17.6% to
24.5mn, with Jet Airways continuing to hold the largest market share. - Media
„ L&T had inked Rs26bn concession agreement with the NHAI for widening of
Beawar-Pindwara highway in Rajasthan. . -Media
„ RIL has made a natural gas discovery in the very first well drilled on its D9
block in the Krishna Godavari basin off the east coast of India. – Media
„ Tata Steel received Rs5.8bn as part of an arbitration settlement between its
subsidiary & certain 3
rd
 parties relating to the Teesside business. –Media
„ Lupin has received the USFDA nod to market generic levofloxacin tablets,
used for the treatment of bacterial infections, in the American market. - Media
„ Religare plans to buy two brokerages in Nigeria and South Africa to increase
access to foreign institutional investors. – Media
„ To kick-start power capex and support SEB financials by offering cheap
captive coal based power, Minister for Environment made an exception by
approving ADE's 15mtpa Parsa East and Kante Basan coal mine which was
in 'no go' zone for 18 months.. – Media
„ Lanco Infra has signed a $80mn deal to build a power plant in Iraq as part of
the war-torn country’s plans to cut its energy deficit.  – Media
„ Wind-based power producer Caparo Energy (India) Ltd (Ceil) has raised
$78.5 million (Rs 353.25 crore) to increase capacity.
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated June 19 – 24, 2011.

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