Headlines for the day
News 30-May-08
Corporate News Headline
Infosys is planning to invest Rs. 5 bn in Orissa for setting up an SEZ in IT and ITeS sectors. (ET)
Reliance Communications and South African telecom firm MTN has started to work out a deal involving swapping of equity between them. (ET)
SBI has borrowed Rs. 130 bn from the RBI amidst tight liquidity conditions and spiralling oil prices. (ET)
Economic and Political Headline
The government is planning to raise petrol and diesel prices by Rs. 3-4 a litre and Rs. 2 a litre, respectively to curtail losses of state-owned oil firms. (BS)
The government allowed infrastructure companies to raise up to USD 100 mn through ECBs for rupee expenditure under the approval route. (BS)
The US GDP rose at a seasonally adjusted 0.9% annual rate during January through March because of a better trade balance and stronger business spending. (WSJ)
Friday, May 30, 2008
News 30-May-08
Posted by Sachin Shahane at 9:49 AM
Labels: Heard On The Street
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