UK needs more ambitious deficit-cutting plan - Fitch
"Both the size of the deficit currently projected for 2011 and the failure to reduce the deficit to 3 percent of GDP within five years are striking," Fitch said.
China Sovereign Fund Wants More to Invest After May, June Loss
China’s $300 billion sovereign wealth fund is asking the government for more funds after a 10 percent mark-to-market loss in May and June amid the European debt crisis, said Executive Vice President Jesse Wang.
India, China to lead Asian recovery: Moody's
The report underlined the need for Asia's policymakers for maintaining balance between inflation and growth.
Prolonged Euro crisis could impact capital flows: Mukherjee
The Finance Minister also highlighted the robust Indian banking sector which stayed immune inspite of deregulation and the global turmoil.
Govt approves 6 new SEZ proposals
The inter-ministerial board of approval, the nodal body for SEZ-related matters, also allowed developers to withdraw four of their SEZ proposals.
Anil Ambani withdraws defamation suit against Mukesh
The withdrawal of the suit comes weeks after the brothers decided to scrap a non-compete agreement between their group companies and pledged to expeditiously renegotiate a gas supply agreement on the lines of the Supreme Court verdict of May 7.
Tata Steel Arm Ups Stake In Canadian Mining Co To 27.4%
Tata Steel currently has a capacity to produce over 28 million tonnes of crude steel per annum. It currently has operations across 26 countries, and commercial presence in over 50 countries globally. The company posted a turnover of $22.8 billion in FY 2010.
Hindalco to spend Rs 10k cr in FY11; scouts for mines
Hindalco operates copper mines in Australia under its unit, Aditya Birla Minerals. The company currently requires about 4 lakh tonne of copper, for which it has about 1 lakh tonne of copper concentrate.
HCC in pact with Egypt's Orascom Construction
The two companies will also explore a scope of partnership with the intent of jointly creating a portfolio of infrastructure assets across different sectors in India, HCC said in statement.
Bharti buys Zain's Africa biz for $10.7 bn
The Zain acquisition, the second largest by an Indian entity after Tatas' Corus deal, would take the revenue of the combined entity to an estimated $13 billion.
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