News 6-Aug-08

6-Aug-08
Headlines for the day

Corporate News Headline

BHEL won contract worth Rs. 25 bn for supplying 800 MW supercritical boilers. (ET)
NTPC would enter into renewable power generation through a joint venture with foreign power and financial firms. (ET)
Nagarjuna Construction bagged new contracts aggregating Rs. 4.43 bn. (BS)

Economic and Political Headline

The finance ministry said that any further relaxation in the external commercial borrowings norms is very unlike in the near future. (ET)
As many as 19 more FIIs like Merrill Lynch Mortgage Lending, Citigroup Global Markets Mauritius, and Kotak India Focus Fund have been allowed by the SEBI to invest in Indian debt market with overall cap of over USD 1900 mn. (ET)
The US Federal Reserve, grappling with a yearlong crisis in credit markets, held interest rates unchanged at 2% while indicating continued worries about weaker economic growth ahead. (WSJ)