Daily News Roundup - Feb 17 2011

RIL plans to invest up to US$30bn in next 5 years in various businesses including energy and telecom. (ET)

RIL gets new partner for its marcellus shale gas in US. (BS)

Tata Power and Tata Motors plan perpetual bonds to raise US$1.5bn. (ET)



SAIL to set up a 3mtpa plant in Mongolia at an investment of ~Rs150bn. (BS)

Kotak Bank and Allahabad Bank raises deposit rates by up to 25bps. (ET)

Government to infuse Rs12.48bn into UCO Bank and Union Bank of India as a part of recapitalization package. (BS)

Petronet LNG to set up 5mt import capacity terminal at Kochi at estimated cost of US$650mn. (ET)

Wipro opens new office in Ontario as a part of expansion plan for its Canadian operation. (BL)

ADAG group chairman, Anil Ambani appears before CBI to clarify his group company’s position in alleged involvement in 2G spectrum scam. (BL)

Sicom sells 10% stake in Shree Asthavinayak (ET)

Jet Airways has sought nod to fly directly to USA from next winter. (BS)

EIH Hotels to raise Rs11.79bn via rights issue. (BS)

Techno Electric is in talks with IFC, Standard Chartered Bank and DBS to raise Rs7.5bn of debt to part finance its 200-MW wind power project in Tamil Nadu. (ET)
Economy Snippets

CMIE says that economy is likely to grow by 9.2% for FY11. (BS)

PC sales jump 26% during last quarter of 2010. (ET)

Inflation to be down by 7% by fiscal end says PM. (BL)