8-June-09 News Headlines

Corporate News Headline

•JSW Steel has reported a 33% rise in crude steel production to 4.59 lakh tonnes in May 2009. (BS)
•C&C Constructions has bagged two orders worth Rs. 3.75 bn from Jaiprakash Associates. (BS)
•ONGC approved the revised cost estimates for developing the nation's most prolific on-land oilfield in Rajasthan and agreed to invest around USD 350 mn more in the fields operated by Cairn India. (ET)


Economic and Political Headline

•The government's direct tax collection in May this year recorded a 16.88% jump to Rs. 119.19 bn from Rs. 101.98 bn in the same month last year. (BS)
•Payrolls in the US fell by 345,000, the least in eight months, after a revised 504,000 loss in April, reinforcing signs that the deepest recession in half a century is starting to abate. (Bloomberg)
•Rio Tinto Group, the world's third-largest mining company, scrapped an investment from Aluminum Corp. of China in favor of raising USD 21 bn from a share sale and an iron-ore venture with BHP Billiton Ltd. (Bloomberg)
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