Daily News Roundup - Nov 26 2008

Reliance Power to swap ECB into a Rupee loan. (FE)
ONGC strikes oil at a block in KG Basin. (BS)
BHEL lines up Rs30bn for solar energy foray. (DNA)
Siemens plans a capex of Rs2bn for the year ending September 2009. (DNA)
Bhushan Steel is likely to resume its normal production of steel by December. (BS)
Great Offshore has chartered two of its vessels to Egypt for US$22mn. (BS)
Bosch India is likely to shut 2 off its facility for 3 days. (BS)
Sun Pharma, fully owned US subsidiary, buys Chattem Chem from Elcat. (BS)
Air-India and Kingfisher to cut air fare by Rs350-500 on domestic routes with immediate effect. (ET)
Tata Chemicals has agreed to invest US$25mn for 35% stake in Singapore based company. (ET)
Emami plans to set-up a plant in Africa with a total investment of Rs900mn. (ET)
TVS Motors ties up with IndusInd Bank for providing financial support to its dealers. (ET)
Adlabs plans to spend Rs2bn for film services and exhibition business. (ET)
RIL and Essar Oil are beginning to re open petroleum stations that were shut over the past year. (FE)
Sega Corp is in talks with DLF for a possible entry in India, talks are focused on developing indoor gaming complexes. (ET)
BHEL wants finance ministry to impose a 15% duty on imported power generating equipment. (ET)
Educomp is planning to enter the higher education space by setting up a private university in New Delhi. (BS)
Peninsula has delayed its new project launches in Nashik, Pune and Hyderdabad by 6-12 months. (DNA)
Bajaj Auto has scaled down its production targets for the next few months. (DNA)
Jindal Steel aims to add hydro electric, nuclear, wind and solar projects to its steel business. (DNA)
Dabur plans to launch ayurvedic skin care range may be delayed. (BL)

Banks may soon be able to open new branches and set-up ATM’s without a license from RBI. (ET)
Government may scrap the condition that new telecom operators should cover 10% of districts in a circle in the 1st year itself. (ET)
Government to discuss relief measures for power project developers soon. (ET)
Government has imposed import restrictions on specific steel products used by construction, automobile and oil sector. (ET)
Government plans to cut retail prices of petrol, diesel and cooking gas after state elections. (BS)
Banks wants easier NPA norms, special window for lending to SMEs. (BS)
3G and WiMAX spectrum to be auctioned in two phases says Telecom minister. (BL)
IT minister to approach PM for seeking an extension of tax exemptions available under the STPI scheme for three more years beyond March 2010. (BL)