Daily News Roundup - May 27 2011

Coal India in talks to buy 40% in Indonesian miner for US$1bn. (ET)

DE Shaw and Reliance JV to offer 360 degree financial services. (ET)

Dr Reddy’s polypill for cardiovascular disease has shown positive results in clinical trials. (BL)

NMDC to acquire 50% stake in Australian mining company Legacy Iron Ore. (BL)



Reliance has submitted interest to buy Australia’s Premier Coal. (ET)

Star India and Zee Entertainment have formed a 50:50 distribution company in India to market a bouquet of 68 channels. (ET)

Siemens get RBI nod for NBFC foray. (ET)

Kotak Bank raises deposit rates across some maturities. (BL)

SAIL to set up eight joint venture processing units. (BL)

Mundra Port SEZ has not been able to bid for at least four major ports projects due to the Centre withholding security clearance. (BL)

Pantaloon plans to roll out 50-60 new stores nationally in the next three years. (BL)

Tech Mahindra says that 2G scam may impact its US$400mn IT outsourcing deal with Etisalat DB. (BL)

Lanco consortium bags Rs8.85bn solar project from Mahagenco (ET)

Fortis Healthcare scouting for buys in Mumbai. (BL)

ABG Shipyard gets license to build war ships. (ET)

Persistent to acquire Agilent Technologies’ France unit. (BL)

Tata International on verge of acquiring Crew B.O.S. (BL)
Economy Snippets

Food inflation rises to 8.55% for the week ended May 14. (ET)

The government plans to stop subsidizing cooking gas and kerosene next year and give direct cash to the poor. (ET)

Government looking at two routes for infra debt facility. (BL)

Government may re-introduce interest subsidy for small exporters. (BL)

Government set to make diesel and LPG more expensive. (BL)

RBI has asked banks to furnish details on the kind of portfolio management services offered by them.