23-June-09 News Headlines

Corporate News Headline

•Jindal Saw has secured orders worth Rs. 10 bn for supplying pipes in both domestic as well as international markets. (BS)
•BHEL has bagged a Rs. 1.05 bn order from IOC for setting up a captive power plant at the latter's Barauni Refinery Complex. (BS)
•ABB India bagged orders worth Rs. 550 mn to provide electrical infrastructure for modernisation of Kolkata airport. (BS)


Economic and Political Headline

•The government is planning to hike the price of natural gas produced by ONGC and Oil India by over 17% and index it to inflation rate to help the two firms cut losses on selling fuel below cost. (BS)
•The UK home sellers lowered asking prices in June for the first time in five months as banks scaled back lending and required buyers to stump up bigger deposits. (Bloomberg)
•European Central Bank President Jean-Claude Trichet said that there's still a risk that renewed financial turmoil could hamper an economic recovery. (Bloomberg)
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