Daily News Roundup - Dec 28 2011

SBI’s proposed JV with Bharti Airtel has fallen through after RBI expressed apprehensions over letting a telecom player into banking space through equity participation. (BS)

L&T, Mitsubishi to sign a licensing and technological collaboration agreement. (BS)

Infosys BPO to expand in China. (BS)

Tata Power to buy BP’s 51% stake in Tata BP Solar India. (ET)

Petroleum Ministry to refund $120mn to Cairn and Ravva Oil. (ET)



PFC plans to raise Rs10bn via tax-free bonds. (BL)

LIC Housing Finance to raise Rs80bn in fourth quarter. (BS)

Adani Power stalls 6500mw project due to issues related to fuel supply. (BL)

Varun Group to sell 51% in Madagascar block to china company. (ET)
Economy Snippets

Banks to pull out Rs300bn from MFs in one month to pay advance tax, meet capital adequacy requirement and fall in line with RBI directive to lower investment in debt fund. (ET)

PSU banks credit panel can now approve loan upto Rs4bn. (ET)

Power companies with assured fuel may have to cap rates. (ET)

Coal import likely to increase to 194mt by 2017. (ET)

India, Mauritius start talks on double taxation pact. (ET)

CAG finds loss of Rs12bn in pulses import. (BL)

RBI to buy Rs120bn of government securities through open market operations. (BS)