Daily News Roundup - July 29 2010

RIL and Essar Oil join race to buy BP’s Africa assets. (ET)

HDFC Bank, Lakshmi Vilas Bank and Central Bank set off a round of deposit rate hikes. (ET)

EGoM cancels KG gas allocation for ONGC. (DNA)



NTPC’s merchant power business plans to get government nod. (BL)

Adani Enterprise to invest Rs65bn in coal mining. (BL)

Yes Bank to raise Rs4.5-5bn in Q2 to fund its business growth. (BL)

Patch of Maruti Suzuki’s largest selling car Alto produced in April this year is facing a potential engine oil leakage problem. (ET)

Reinsures have settled Aban’s US$235mn claims for its semi-submersible rig. (ET)

Unitech plans to buy AIM-listed group company for over Rs7.5bn. (ET)

ABB acquires 75% stake in Indian arm. (BS)

Wipro has filed an application with FIPB to enter the IT defence sector. (BS)

Wockhardt fails to reach a settlement with FCCB holders. (ET)

Cholamandalam Investment plans to raise Rs2.5bn via QIP or preferential share issue. (BS)

Hindustan Aeronautics has signed contract worth 700mn pounds with BAE system and Rolls Royce. (ET)

Infrastructure growth slips to 3.4% in June. (ET)

Finance Ministry has proposed dedicated debt funds to channelise foreign savings into the infrastructure sector. (ET)

RBI to assess reality lending curbs in November. (DNA)

Bombay High Court has granted an interim stay on service tax levied by union government on buildings under construction. (ET)

EGoM fails to decide on KG-D6 gas allocation. (BS)

Personal computer sales grow 18% in FY10. (BL)

Union Ministry for New and Renewable Energy to hold talks with banks on funding solar projects. (BL)