Monday, June 23, 2008

News 23-Jun

News
23-June-08

Headlines for the day

Corporate News Headline

RIL would invest USD 215 mn and create over 200 new jobs at a newly acquired polyester plant in the US. (BS)
Reliance
Infrastructure is planning to invest Rs. 280 bn in the next three years
to make acquisitions in India and abroad, including coal mines in
Indonesia. (BS)
BHEL bagged a contract worth USD 428 mn for setting up a 500 MW power project in the eastern state of Jharkhand. (ET)

Economic and Political Headline
The
WPI-based inflation rate soared to 11.05% for the week ended 7 June as
compared to 8.75% in the previous week due to increase in the petroleum
product prices. (BS)
The
RBI governor met the Prime Minister to have discussed steps needed to
be taken to control the prices with inflation shooting to 13-year high
at 11.05%. (BS)
The
Chinese government, which controls domestic fuel prices, raised its
base price for gasoline by 17% and diesel by 18%. (WSJ)

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