Corporate News Headline
•NALCO has added 120 MW capacities at its captive power plant under its ongoing second phase of expansion. (Reuters)
•Indian Oil Corporation's refinery project at Paradip in Orissa would be operational from November 2012 after its completion in August that year. (BS)
•IRB Infrastructure Developers has emerged as the lowest bidder for the Rs. 12 bn project of National Highway Authority of India. (BS)
Economic and Political Headline
•The Governor Duvvuri Subbarao said that the Reserve Bank of India should look at eventually reversing the expansionary policy pursued in the wake of the global economic crisis. (Reuters)
•Seeking to mollify the fears of banks that high government borrowing would not allow interest rate to come down, the Planning Commission said that the fiscal deficit will be high but not in "double digits". (BS)
•The European Central Bank President Jean-Claude Trichet dismissed concerns over a possible threat of deflation and said that the ECB would guarantee price stability over the medium term. (Reuters)
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