Daily News Roundup - Aug 9 2011

The price benchmarks set by Indonesia for export of coal may create hurdles for the power sector, including group outfit Adani Power Ltd, in the "immediate future".(BL)

With the Supreme Court permitting NMDC to mine iron ore from its two sites at Bellary, Karnataka, JSW Steel said that it will run its plants at Vijayanagar and Salem, Tamil Nadu at 80% capacity(BS)

Rating agency Moody’s on Monday said recurring payment defaults by the ailing carrier Air India can adversely impact the asset quality and capital base of Indian banks.(FE)



Hindustan Motors is planning to launch a slew of commercial vehicles this fiscal to improve its top line.

Emami Biotech Ltd is planning to triple its edible oil refining capacity with an investment of around Rs 5.50bn (BS)

NMDC Ltd is ramping up its production to ensure adequate supplies of the raw materials to steel plants and other allied industries.(BL)

SAIL will raise long-term debt worth 30bn in tranches through private placement.(ET)

Larsen and Toubro said it was looking at more orders from international markets, including West Asia and East Asian countries, where it already has a presence.(BS)

Cadila Pharmaceuticals said its Ethiopian joint venture has become the first pharmaceutical company to bag the current Good Manufacturing Practises certificate. (BS)

Everonn Education Limited plans to invest around Rs 1.50bn in the present fiscal.(BS)

Chinese telecoms equipment maker ZTE Corp entered into a strategic partnership with BSNL to step up broadband services across the country. (ET)
Economy Snippets

The government assured investors it would expeditiously work on pending reforms. It said the India story had not been hampered in any way by the developments across global markets (BS)

India's foreign direct investment continues to gather momentum with the inflow registering a 310% increase in June to $5.65 billion. This is the highest monthly inflow in the past 11 years.(BL)

The commerce ministry is setting up a monitoring committee with officials drawn from various bodies, including the Drug Controller General of India and Indian Pharmacopeia , to ensure the quality of pharmaceutical exports.(BS)