7-April-09 Headlines

Corporate News Headline
•IVRCL Infrastructures and Projects bagged orders worth Rs. 3.59 bn including a project to construct a road flyover on a turnkey basis in Kolkata from the Kolkata Metropolitan Development Authority valued at Rs. 1.64 bn. (BS)
•HCL Technologies has entered into a six-year, multi-regional data centre services and transformation engagement with Xerox Corporation. (BS)
•Power Grid will borrow USD 2 bn from the World Bank and Asian Development Bank to part finance Rs. 550 bn investment plans till 2012. (BS)

Economic and Political Headline
•The Reserve Bank's Governor D Subbarao said that the main policy objective in the global crisis would be to arrest the moderation in economic growth and restore the eroded market confidence. (BS)
•The pace of borrowing by the US consumers fell 3.5% at an annual rate in February as fewer Americans sought credit to make purchases amid what may become the worst recession in seven decades. (Bloomberg)
•The UK manufacturing dropped 6.5% in the three months through February, the most in at least four decades as the global economic slump throttled demand for goods from cars to ceramics. (Bloomberg)

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