Daily News Roundup - May 14 2010

Aban Offshore loses one of its biggest money-spinning rigs, earning Rs15mn a day. (ET)

RIL may join ONGC consortium in Venezuela, which could bag a hydrocarbon block. (ET)

Standard Chartered is likely to raise around US$600mn through an India listing. (ET)

Huawei offers to share source code for its telecommunication systems in a move to establish that its telecom gear does not pose security threat. (ET)

RJ Corp will dilute 10-12% in one of its subsidiaries to fund expansion plans. (ER)

Kingfisher to restructure around Rs7bn of debt. (ET)

Coal India about US$555mn in employee cost over the next 10years as it increases the use of machines. (ET)

REC plans to borrow Rs21bn as a part of its resource mobilization plans. (ET)
UK’s National Grid has shortlisted Infosys, Mahindra Satyam, Cognizant ifor US$250mn outsourcing contract. (ET)
The Government plans to raise US$11bn for the nations infrastructure, 40% of the corpus cold be raised from foreign pension, insurance and sovereign investors. (ET)

Food inflation rises to 16.44% in the week ending May 14, 2010. (ET)

RBI to give priority sector status to loans for projects that emit lower carbon. (ET)

SEBI may close equity options route for mutual funds. (ET)

In a move to bring greater transparency, banks may now have to list securitized debt. (ET)

via BL