9-June-09 News Headlines

Corporate News Headline

•Areva T&D India has bagged four contracts worth Rs. 3.5 bn from power transmission utility Power Grid Corporation of India for developing four substations in the country. (BS)
•Wire & Wireless is planning to raise Rs. 1.92 bn on a private placement basis from institutional investors. (BS)
•Power Trading Corp is planning to acquire coal properties overseas and has identified mines in Australia and Indonesia for the purpose. (BS)


Economic and Political Headline

•With economic condition turning better compared to that three months ago, the Planning Commission said economy should record at least 6.7% growth rate this fiscal, the same as was witnessed in 2008-09. (BS)
•The Bank of England is proposing an extension to its Asset Purchase Facility to buy secured commercial paper as part of its plan to restore liquidity to credit markets. (Bloomberg)
•Japan's corporate bankruptcies dropped 6.7% in May, for the first time in 12 months and merchant sentiment climbed to a one-year high, signs that the economy is starting to recover from its deepest postwar recession. (Bloomberg)
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