14-July-08
News
Headlines for the day
Corporate News Headline
BHEL bagged a contract worth Rs. 217.5 mn to set up a 600 MW thermal power plant in the southern state of Tamil Nadu. (ET)
Tata Steel is planning to acquire an iron ore mine in Western Australia, which has billions of tonnes of reserve of the commodity. (BS)
JSW Steel would explore the possibility of importing iron ore from its mine in Chile and sell it in the local market. (BS)
Economic and Political Headline
The WPI based inflation rate for the week ended 28 June rose to 11.89%, as against 11.63% in the previous week, due to an increase in the prices of primary goods and manufacturing products. (ET)
The growth in the IIP during May, 2008 slipped to 3.8%, as against 10.6% in the same month of 2007. (BS)
The US trade deficit unexpectedly shrank 1.2% to USD 59.8 bn in May from a revised USD 60.5 bn in April as the cheaper dollar spurred gains in exports, helping make up for the soaring cost of imported oil. (Bloomberg)
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