Daily News Roundup - Dec 15 2011

Larsen & Toubro has commissioned a 384-MW gas-based unit at GMR's 1,200 MW gas-based power plant at Vemagiri, Andhra Pradesh. (BL)

The CBEC has lifted the freeze on the bank accounts of Kingfisher and Air India. (BL)

MindTree has been selected by UK-based Millennium & Copthorne Hotel's to manage its e-business initiative. (BL)

Punjab National Bank has launched its ‘customer contact week'. (BL)

Reliance Industries Ltd has alleged that the petroleum ministry is violating coal bed methane contract by restricting price discovery which could lead to revenue loss for the central and state exchequers. (BS)



DLF set to ink Rs9bn Pune SEZ deal with Blackstone. (BS)

Bharti Airtel has said once the licence lease of a telecom operator expires, the company should have the first right of refusal on the radio waves it holds before the airwaves are put up for an auction. (FE)

Reliance Infrastructure will auction its power transmission company — Reliance Power Transmission (ET)

JSW Steel is set to lose over Rs5bn paid as an initial deposit for preferential warrants. (ET)

Emcure Pharmaceutical has appealed against the admission of a winding-up petition against the company filed by ICICI Bank before a single-judge bench of the Bombay High Court. (ET)

Indian Overseas Bank may look at borrowing US$500mn in the overseas market next year to meet dollar demand from Indian companies. (ET)
Economy Snippets

TRAI has initiated legal action against cellular operators for not implementing Mobile Number Portability (MNP) properly. (BL)

Fall in food prices eases inflation to 9.11% (BL)

In the fortnight ended December 2, banks disbursed loans aggregating Rs463.77bn, against Rs85.70bn in the preceding fortnight. (BL)

Investor-friendly Companies Bill introduced in Lok Sabha. (BL)

Finance Minister Pranab Mukherjee said in the Lok Sabha the government would bring a White Paper giving all the details on black money.(BS)

Hong Kong became the world’s most developed financial market, overtaking the US and the UK for the first time. (FE)

FICCI has asked the government to announce a one-time amnesty scheme in the coming Budget for encouraging Indians to bring their overseas wealth into the country. (FE)

The Lok Sabha passed the Cable Television Networks (Regulation) Amendment Bill, 2011, making it mandatory for all cable operators in the country to convert from analog to digital transmission in a phased manner by December 2014. (ET)