Headlines for the day

Corporate News Headline

SAIL has undertaken the work for enhancement of loading facilities at Bolani iron ore mines in Orissa with an investment of Rs. 1.2 bn. (BS)

Idea Cellular is planning to invest around Rs. 8 bn during the current financial year for its operations. (BS)

SBI is all set to enter into general insurance through foreign collaboration and is expected to finalise the terms for joint venture with Insurance Australia Group by next month. (BS)

    Economic and Political Headline
    The government may look into cutting down the existing tax incentives for boosting its revenues and controlling fiscal deficit. (BS)
    The Indian government decided to pay Rs. 540 bn in cash subsidies to fertiliser companies and has cleared the first tranches amounting to Rs. 220 bn. (ET)
    Freddie Mac was forced to offer unusually rich terms to investors in a USD 3 bn auction of its debt, raising a new concerns about the health of the mortgage giant, a vital prop for the US housing market. (WSJ).

Economic and Political Headline

The government may look into cutting down the existing tax incentives for boosting its revenues and controlling fiscal deficit. (BS)

The Indian government decided to pay Rs. 540 bn in cash subsidies to fertiliser companies and has cleared the first tranches amounting to Rs. 220 bn. (ET)

Freddie Mac was forced to offer unusually rich terms to investors in a USD 3 bn auction of its debt, raising a new concerns about the health of the mortgage giant, a vital prop for the US housing market. (WSJ)