Daily News Roundup - Dec 17 2008

Kingfisher Airlines and Jet Airways are contemplating another round of fare cut. (ET)

ONGC loses over Rs15.7bn during 2007-08 on selling gas below cost. (ET)

United Breweries planning to bid for Cobra Beer. (ET)

Suzlon and Martifer Group have revised the payment schedule for the latter 22.4% stake in REpower. (BS)

Nagarjuna head sent to judicial custody for allegedly defaulting payment to NFL depositors. (BS)

ABG Shipyard faces Rs10bn order cancellation as the prospective Norwegian buyer is facing financial crunch. (BS)

Tata Motors may tap car loan pool to raise fund. (BS)

L&T secures order worth Rs13.7bn from three different steel companies for engineering related works. (FE)

IVRCL Infra has bagged four order worth Rs746bn from different agencies for construction related projects. (FE)

Birla Tyres shut down its OEM unit at Balasore in Orissa. (BL)

Elder Pharma has tied up with Australian Pharma Company Global Energy Medicines to market pain management product in India. (ET)

HDIL plans to enter the sub Rs2mn home category. (ET)

Reliance Infra has bagged project worth Rs1.8bn from Haryana government. (BL)

Bharat Forge and Alstom to set up manufacturing facility with an annual capacity of 5,000mw at Mundra port. (BL)

SBI is planning to raise Rs180bn through bonds by December 2010. (BL)

Union Bank plans to raise Rs5bn via bonds. (BL)

Moser Baer to have an exclusive home video license for UTV’s 25 films for the next five years. (ET)

The empowered committee of state finance minister has opposed the idea of granting declared good status to ATF. (BL)

Jewellery exports down 34% yoy to US$987mn in November.

Finance Ministry backs the plan to limit 3G auction to five players per circle for private companies and state owned telcos. (ET)

Government may scrutinize Satyam deal if there is violation of company law. (ET)

Government plans Rs100bn fund to extend low cost credit for shipping industry for purchasing new vessels. (ET)

Revenue from excise and custom duty decline by 15% and 0.8% in November, respectively. (ET)

FDI inflow declines 26% yoy in October this year. (ET)

Government may take more step to boost growth in economy and protect it from the global downturn, says Chidambaram. (ET)

Planning commission deputy chairman says the fiscal stimulus package announced by the government was adequate. (ET)

Chidambaram hints a cut in fuel prices again. (BS)