24-June-09 News Headlines

Corporate News Headline

•ONGC has made 28 oil and gas discoveries, including in the prolific Krishna Godavari basin, in the last fiscal but did not put reserve number to the findings. (BS)
•KEC International has bagged three orders totaling to Rs. 1.1 bn. One of the orders is in Peru, in the South American continent, and two in Chhattisgarh. (BS)
•NTPC is planning to sign the gas purchase agreement with RIL for its gas-based power plants other than the projects for expanding the Kawas and Gandhar units, on which litigation is going on with RIL. (BS)


Economic and Political Headline

•In the face of rising global crude oil prices, the Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia has said that domestic prices of petrol, diesel, and cooking gas should be linked to oil prices in the international market. (BS)
•The sales prices of existing homes in the US dropped 17% in May from a year before, spurring a second straight gain in purchases and helping reduce the nation's glut of unsold properties. (Bloomberg)
•The President Barack Obama said that he expects the US unemployment rate will exceed 10% this year, though a second stimulus package is not needed yet. (Bloomberg)
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