11-June-09 News Headlines

Corporate News Headline

•Tata Teleservices announced the launch of its services in GSM platform in partnership with Japanese firm NTT DoCoMo and said it will invest USD 2 bn by this fiscal to roll out operations across the country. (BS)
•SAIL received the nod for acquiring four pending mining leases in Chiria iron ore mines of Jharkhand. (BS)
•RIL has increased LPG supplies to Indian Oil, Bharat Petroleum, and Hindustan Petroleum from its twin refineries at Jamnagar, forcing the state-run firms to sell cooking fuel cargoes that they had contracted from overseas suppliers. (BS)


Economic and Political Headline

•The Finance Minister Pranab Mukherjee said that banks have agreed to consider interest rate cuts, responding to his strong pitch saying measures to ease their burden were not being passed on and that industry needed credit at reasonable rates to push overall growth. (BS)
•The UK manufacturing rose 0.2% for a second month in April, as a rebound in motor vehicle production helped end the yearlong factory slump and temper Britain's recession. (Bloomberg)
•The orders for Japanese machinery fell 5.4% in April and producer prices tumbled as dwindling profits forced companies to cut costs amid the worst postwar recession. (Bloomberg)
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