Daily News Roundup - July 22 2011

Vedanta Aluminum Ltd is open to make a fresh proposal to obtain environmental clearance for the expansion plans at its aluminum unit in Lanjigarh, Orissa.(BS)

Reliance Industries is occupying centre stage in diplomatic relations between India and Saudi Arabia as the oil-rich kingdom is mounting intense pressure on New Delhi to withdraw anti-dumping duty on the plastics raw material.(ET)

JSW Energy plan to expand its Ratnagiri power plant by 3,200 Mw would be postponed till issues regarding imported coal were sorted.(BS)

Nalco's plans Rs.100bn project to set up a 310,000-tonne aluminium smelter and a 750-Mw power plant in Iran continues to languish due to paucity of funds.(BS)

NHPC Ltd and the Orissa government owned Orissa Hydro Power Corporation will jointly implement three hydel projects in the state at an estimated cost of Rs 26bn.(BS)

Kirloskar Oil Engines Ltd. has entered into a license agreement with Daihatsu Diesel company, Japan for manufacturing and supply of diesel engines of Daihatsu design in India.(BS)

JSW Energy’s all further power generation expansion will be on domestic coal availability and the Ratnagiri expansion project based on imported coal has been put on hold, Mr Sajjan Jindal, Chairman(BL)

Some shareholders of Dr Reddy's Laboratories Ltd have asked its management to split equity shares.(BL)
Economy Snippets

The government’s plan to remove sectoral FDI caps below 49% would come with a set of riders as it wants to closely scrutinise sensitive sectors like insurance, news media and defence once the liberal regime is in place.(FE)

The Department of Telecom is considering opening up the Internet telephony segment and allowing unrestricted calls by consumers using their Internet connections.(BL)

Food inflation eased to 7.58 per cent for the week ended July 9, with even dairy products and protein-based items witnessing a decline in the rate of price rise.(BS)

More and more infrastructure companies are bidding on low margins for road projects, thanks to the slower pace of construction projects in other sectors which is impacting the bottom line of the infrastructure companies(BS)

The government would not increase its borrowing in the first half (April-September) of the current financial year. It said it would meet its temporary cash requirements through short-term borrowings, if needed.(BS)