23 Aug: Morning News (click on link to read article) : IFCI Financial Services Limited

Morning News (click on link to read article)

Economic Times		Business Standard
Ø  HP posts $8.85 bn loss on reorganization Ø  Recession in US likely without budget accord: Analysts Ø  Tata Steel unveils brand to tap Rs 3000cr silico manganese market Ø  Bank credit rises by Rs 22,000 cr in fortnight ending Aug 10 Ø  RBI notifies decision allowing FDI from Pakistan Ø  India Inc's biz sentiment falls on gloomy economy		Ø  Transfer pricing norms out, to ease tax woes Ø  Rupee gains in thin trade, foreign banks sell dollars Ø  DIIs net sell Rs 230cr, FIIs net buy Rs 97cr Ø  Seven foreign banks get nod to open branches in 2012 Ø  Ranbaxy withdraws 27 drugs from US market Ø  S&P eyes China stimulus risks
Business Line		Mint
Ø  Fitch turns spotlight on Tulip’s foreign currency bond dues Ø  CMM mining: Not possible under current laws, says Coal India Ø  PSU consortium bids for one copper asset in Afghanistan Ø  No VAT on diesel used for captive power generation in AP Ø  MSat, Tech Mahindra open Oracle centre at Kolkata		Ø  Network18 offloads a minority stake in Bigtree to Accel Ø  Cairn India to invest $2 billion over next two years Ø  Coal imports seen rising as global prices fall Ø  RBS probed over possible Iran sanctions violations Ø  NTPC to fund coal transport infrastructure
Financial Express		Financial Chronicle
Ø  Home finance cos allowed to tap ECBs for low-cost units Ø  India Inc biz sentiment falls eco gloom Ø  Bharti to sell Centum Learning to Everonn Ø  'Jaypee unit stake sale at Rs 4,200 cr' Ø  'Food hit household spending by 65%' Ø  Citi to invest $138 mn in Cox & Kings		Ø  Vedanta may offer 25% higher price for HZL, Balco stake Ø  L&T seeks shareholders' nod to raise up to Rs 3,200 cr Ø  Transglobal sells Kingfisher Airlines shares worth Rs 7.43 cr Ø  Sebi gets Tribunal rap for 'inordinate' delay in inquiry Ø  Rolls-Royce gets £8million contract for buoy tender vessel Ø  Stocks excluded from F&O drop in cash market

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