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FIIs head back as macro headwinds ease (BS)
Foreign institutional investors (FIIs) have returned with a bang. Over the last seven trading sessions, they have pumped in close to $2 billion into Indian equities. Most market players expect this to continue as they see macro headwinds easing.
RBI caps banks' investment in up to 1-yr liquid scheme (Reuters)
The Reserve Bank of India (RBI) on Tuesday said banks' investments in liquid debt schemes of mutual funds with weighted average maturity of not more than one year will be capped at 10 percent of banks' net worth.
Banks asked to up credit flow to SMEs (BS)
While bank advances were growing above 20 per cent yearly, lending to small and micro enterprises should also grow at a decent pace, the Reserve Bank of India told banks in the annual review meeting of its standing advisory committee on SMEs.
India Inc raises 29% more through ECBs, FCCBs in May (BS)
Indian companies raised $2.65 billion through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) in May — a rise of $590 million, or 28.6 per cent, over $2.06 billion in April.
Govt will stick to fiscal deficit target: Pranab (BS)
Finance Minister Tuesday stuck to Budget targets of reining in fiscal deficit at 4.6 per cent of GDP during 2011-12, despite the gap between government expenditure and income widening to one-third of the target in just two months.
CPI a better indicator of inflation than WPI: RBI (ET)
Reserve Bank Governor said consumer price index works better than wholesale price index in capturing market dynamics and arriving at a more realistic inflation forecast.
Centre seeks views of states on FDI (BS)
The draft note prepared by the Department of Industrial Policy & Promotion (DIPP), has clearly stated while FDI in multi-brand retail should be allowed up to 51 per cent, only states have the right to give the final permission to set up such stores.
June services PMI rises on spurt in new business (Reuters)
India's services sector picked up steam in June, with activity rebounding from a 20-month-low in May as new orders rose sharply and costs climbed at a slower pace, a survey showed on Tuesday.
Petroleum ministry to cap LPG cylinder sale (BS)
The government is planning to cap sale of subsidised cooking gas (liquefied petroleum gas) cylinders to each household in a phased manner, while putting in a mechanism for direct transfer of subsidy to the intended beneficiaries.
India trying to ensure constant crude supply from Iran (Reuters)
India is trying to ensure uninterrupted supplies of crude from Iran, Indian oil minister S. Jaipal Reddy told reporters on Tuesday.
Mines ministry wants miners to share 26% of royalty with locals (ET)
In a reversal of its earlier stance, the mines ministry has now suggested that the miners share 26% of royalty instead of profits with local residents.
RIL agrees to drill 3 more wells at D6 (BS)
Reliance Industries, which has been under attack from the Directorate General of Hydrocarbons for not meeting drilling commitments for its flagship D6 block in the KG basin, has written to DGH committing it will immediately start drilling three wells.
Ashok Leyland June sales down 4.6 per cent year/year (ET)
Ashok Leyland, country's second-largest commercial vehicle maker,, said it sold 8,009 vehicles in June, down 4.6 per cent from a year ago.
JSPL gets 5% in Rocklands via open offer (BS)
After extending the open offer deadline twice, Jindal Steel and Power has managed to grab 4.66 per cent share of the Australian coal miner Rocklands Richfields.
U.S. Factory Orders Rose 0.8% in May (Bloomberg Finance LP)
Orders placed with U.S. factories increased in May, indicating manufacturing may rebound from a slowdown in economic growth in the first half of 2011.
Greek Banks Ready for Rollover, Investors Meet (Bloomberg Finance LP)
Greek banks are willing to roll over their government bonds as part of a European Union aid plan, Finance Minister Evangelos Venizelos said, as debt-holders meet in Paris to discuss their role in rescuing the country.
Cameron Presses On With Budget Squeeze (Bloomberg Finance LP)
UK Prime Minister’s refusal to compromise on the most ambitious fiscal squeeze since World War II is testing recovery as consumers lose faith in the economy.
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