Daily News Roundup - Aug 1 2011

Bharat Heavy Electricals technology-sharing arrangement with Alstom for manufacturing supercritical boilers in India will continue unaffected by the French engineering major's recent global pact with Chinese equipment firm Shanghai Electric. (BL)

At least five projects of the DB realty linked to the government sector have been scrapped, put on hold or are struggling for approvals, while 10 of their own 13 projects are behind schedule. (FE)

Petronet LNG has evinced interest in setting up an LNG (Liquified Natural Gas) terminal along the Orissa coast with a cost of Rs.40-50bn. (BS)



ACC Limited, expects to register 20 % additional sales on the back of its new cement product launched under the brand ‘Concrete +’. (BS)

City Union Bank has said it would require Rs30bn by 2014, to support its target of achieving a three-fold increase in its business. (BS)

Jack Palmer, the Infosys employee who has accused the company of large scale visa fraud in the US, will not go for an out-of-court settlement. (ET)

ITC education and stationery products division of non-tobacco FMCG portfolio has been making profits in the last three years. (ET)

LG, Videocon, Onida and Samsung are rolling out exclusive models for big retailers, initiating a strategy to differentiate products sold in large chains from those sold in small shops. (ET)

Godrej Agrovet plans to enter themicro-irrigation business. (ET)

GVK Power and Infrastructure may finalise a deal to buycoal mines operated by Australia'sHancock Prospecting in two months. (ET)

Maxx Mobile plans to foray into the tablet space and is working on features for the proposed products. (FE)

Viceroy Hotels is in the process of restructuring its business operations, including ‘slump sale' of its Bangalore arm and outright sale of its Chennai special purpose vehicle. (BL)
Economy Snippets

FICCI has reiterated its demand to set up an exclusive banking institution on the lines ofNational Housing Bank (NHB)) andPower Finance Corporation (PFC)) for catering to financing needs of infrastructure sector. (ET)

India Infrastructure Finance Company Ltd (IIFCL) will raise Rs35bn through tax-free infrastructure bonds in the present financial year. (BL)

The Commerce Ministry is mulling over a "relook" at the area ceiling for multi-purpose Special Economic Zones (SEZs), presently at 5,000 hectares, since land is emerging as ‘a binding constraint' for huge industrial projects. (BL)

After threatening to snap oil supplies, Iran said a payment row over crude exports to India has been resolved after Indian refiners began paying for the oil they buy through a Turkish bank. (FE)

Food inflation fell to its lowest level in 20 months at 7.33 % for the week ended July 16 on the back of cheaper pulses, even as other items grew more expensive. (FE)