MRTPC orders probe in to Jet Airways-Kingfisher alliance.(BL)
Essar Oil to restart 70% of its fuel outlets by December.(FE)
Satyam Computers trims its hiring plans by a third.(BL)
Coal India says proposed private airport in West Bengal to block coal reserves of about 2.3bn tonnes.(FE)
Daiichi Sankyo acquires 20% of Ranbaxy Laboratories.(BS)
Essar and Gujarat State Petroleum Corp. win an oil and gas exploration block in Indonesia.(BL)
Hindustan Unilever raises prices by 5-10% on select items across soaps, detergents, shampoos and toothpastes.(TOI)
Ashapura Minechem forms a 50:50 JV with Adani group to set up an alumina refinery in Bhuj in Gujarat at an estimated cost of Rs35bn.(DNA)
Nalco to set up Rs100bn smelter project in Indonesia.(FE)
United Phosphorus eyes US$1bn buy in Israel.(BS)
Tata Sons in talks to buy stake in AIG’s Asian arm.(BL)
Parsvanath bags Rs295mn contract from Delhi Metro.(ET)
ONGC said it can fund the entire US$2.8bn for the acquisition of Imperial Energy, even if it was not able to raise the US$1bn bridge loan.(BS)
HCC has been awarded two contracts aggregating to Rs16.9bn from the Government of Andhra Pradesh.(FE)
Hindustan Zinc cuts zinc prices by 5.3%.(BL)
Punjab National Bank says eyeing a bank in Kazakhstan and also exploring options of a subsidiary in Canada.(DNA)
Ansal Housing & Construction to invest Rs1.4bn to develop residential project in Rajasthan.(BL)
NMDC to increase iron ore prices.(FE)
ADAG brings forward its plans to launch PE fund to January 2009 from March, but scales down the size from US$1bn to US$400-500mn.(BS)
Bharti Airtel could be one of the eight finalists in the race for a strategic 25% stake in the roughly US$1bn Omantel, Oman’s sole provider of fixed-line and Internet services.(FE)
Tatas to pick up undersubscribed portion of Tata Motors’ rights issue if the underwriter fails to do so.(ET)
RNRL asks Reliance Industries to pay it the difference between the price at which the latter would sell gas to other buyers and US$2.34 per MMBTU, the rate at which RNRL is seeking supply of gas.(BL)
An European telecom company to buy 43% stake in Unitech’s arm.(BS)
Tata Motors get rent relief for Pantnagar plant.(BS)
Four BHEL planned ventures may be hit due to current liquidity crunch.(Mint)
British Gas operated Panna-Mukta-Tapti JV plans a nine well in-fill drilling programme to enhance recovery from Panna-Mukta oilfield; project estimated to cost US$160mn.(BL)
Singapore fund pick up 8% stake in Mount Everest Mineral Water.(ET)
Reliance Power ties up US$2bn loan for Sasan power project.(ET)
ADAG eyes AIG’s Asian life insurance business.(ET)
Economic Front Page
Forex reserves drop by about US$10bn during the week ended Oct 10 to US$274bn.(BL)
Export curbs on rice, edible oils and cotton could be lifted in November.(FE)
Steel ministry is likely to consider scrapping the 15% export duty on steel, which includes long products, billets and slabs and pig iron.(DNA)
Cement production and dispatches grew 8% and 9% respectively in the month of September on a yoy basis.(ET)
Japan will provide India with US$4.5bn in loans to help build a freight railway between New Delhi and Mumbai, according to a newspaper report.(FE)
DoT is likely to impose higher one-time fee for operators seeking above 6.2MHz spectrum in metros and category A circles.(Mint)
Petroleum and Natural Gas Regulatory Board is working on a policy that will allow companies to use the unutilized capacity in the country's LNG terminals.(BS)
Maharashtra state government okays monorail projects worth Rs24.6bn.(ET)
Oil marketing companies give airlines new deadline to clear their fuel dues within 15 days.(Mint)
NHAI to invite bids for 23 projects worth about Rs300bn.(FE)
Railways may roll back freight hike on iron ore.(ET)
Uttar Pradesh government raises State Advised Price for sugarcane by Rs150/MT to Rs1,400/MT.(BL)
Global financial turmoil to affect FDI inflows according to Commerce and Industry minister.(Mint)
Steel companies may witness 10-40% hike in ore prices.(ET)
Government has allowed captive coal block exploration by private firms.(BS)
DoT admits issue of levying 1% usage charge for 3G services is yet to be finalized; 3G auction process likely to be delayed further.(Mint)
OPEC may decide to cut oil output next week.(BS)
Government may ease rules for more FDI inflow.(ET)