Daily News Roundup - Jan 15 2009

Price Waterhouse has said its audit report for Satyam should not be relied upon. (BS)

Fitch has downgraded Unitech’s Rs44bn long-term debt to ‘B’ from ‘BBB’ earlier, and Rs12bn short-term debt and bank loans to ‘F4’ from ‘F3’. (BS)

Omaxe is in talks with five banks for rescheduling about Rs2bn debt which is to be repaid by March 2009. (BS)

Reliance Industries told that the company had not signed an MoU with RNRL for gas supply but with Reliance Energy and for the Dadri power project. (BS)

Unitech is in talks with banks to raise an estimated Rs9bn loan over the next few days. (FE)

Qatar will consider picking up 10% stake in Petronet LNG. (BS)

HDFC to cut rate on new deposits by around 0.5 percentage points. (ET)

DS Kulkarni Developers Ltd's proposed multi-service SEZ at Phursungi has received approval from the Board of Approvals of the Ministry of Commerce and Industry. (BS)

Reliance Capital has got the regulatory approval to set up a housing finance company and a non-banking finance company. (BS)

TCS, Wipro, Infosys, Sasken may feel the heat as Nortel files for bankruptcy protection. (BS)

Maytas Infra may sell assets to raise funds. (ET)

Siemens has announced that its wholly-owned subsidiary, Siemens Information Systems will be transferred to the parent, Siemens AG in a deal worth Rs4.49bn. (ET)

Domestic steel majors Ispat, Essar and JSW Steel have resumed full-scale production to meet rising demand. (ET)

FMP’s have invested a mammoth Rs15bn in Unitech. (ET)

Pantaloon Retail sales dropped by 4% in December, its first fall in four years. (BS)

JSW Group not to cancel Rs1bn order given to Maytas Infra. (FE)

Raiffeisen selects Infosys banking software Finacle for standardizing and consolidating the technology platform of Raiffeisen International. (FE)

Coal India Limited expects to open tenders for development of its underground mines by early February. (BS)

Raymond set to open 100 outlets under its new chain Neckties & More. (ET)


The government has allowed 100% FDI in facsimile editions of foreign newspapers. (BS)

Planning Commission is likely to unveil new incentivised schemes for the real estate sector to provide affordable housing. (ET)

Trai says that companies offering VAS can continue to operate without license. (ET)

Uttar Pradesh is planning to privatize or completely sell off 33 state-owned sugar mills. (FE)