News 11-July-08

11-July-08
News

Headlines for the day

Corporate News Headline
ICICI Bank is looking at possibilities of acquisitions in Britain, Canada or Germany to expand its overseas business. (ET)
DLF is planning to buy a maximum of 22 mn equity shares at a maximum of Rs. 600 per share. (BS)
Era Infra Engineering is planning to establish a thermal power plant of 1,200 MW in Madhya Pradesh. (BS)

Economic and Political Headline
Several banks have run out of headroom to borrow from the RBI after collectively raising Rs. 300 bn from the central bank. (ET)
As part of its efforts to contain inflation, the government may consider imposing export curbs or duties on petrochemical products like polymers, a crucial raw material for plastic manufacturing, among other items. (BS)
The UK house prices fell 6.1% in June as rising interest rates and reduced mortgage lending exacerbated the worst property slump since the last recession in 1991. (Bloomberg)