3-July News

News
3-July-08

Headlines for the day

Corporate News Headline
Satyam Computer is planning to boost European sales to USD 1 bn in three years to help reduce its dependence on the US customers. (Bloomberg)
Hindustan Construction bagged a Rs. 3.4 bn order from the National Highways Authority of India for constructing the 4.4 km elevated six lane highway at Badarpur, Delhi. (BS)
OnMobile Global acquired the entire stake in speech technology and language processing software provider Telisma of France. (BS)

Economic and Political Headline
The IMF said that the impact of surging food and fuel prices being felt globally is "not so big" in India but it needs to tighten its monetary policy. (ET)
The Finance Ministry officials said some service tax relief may be given to transporters by easing procedural matters and possibly by raising the abatement rate. (BS)
The US auto sales tumbled 18% in June, as sales of trucks and sports-utility vehicles continued to fall and auto makers ran short of the fuel-efficient vehicle. (WSJ)