Daily Newes of main daily newes-papers

Economic Times

1. Ranbaxy board approves de-merger of its R&D unit. The swap ratio has been fixed at 4:1.

2. Reliance Capital gets RBI approval for ARC business.
   

3. M&M is targeting revenues worth US$3bn over the next ten years from deals in the defense space involving supply of land equipment systems to the armed forces.
   

4. Stand-alone tower companies such as Essar Telecoms Tower, GTL Infra, Quipo, Xcel Telecom and TowerVision are planning to consolidate their businesses to compete with existing big three tower companies.

5. Parsvnath Hotels, a subsidiary of Parsvnath Developers, has formed a JV with Royal Orchid Hotels which will develop ten hotels at an investment of Rs5bn.

6. Government may cut excise and custom duties on petroleum products.

7. Rupee hits a 5-month low of Rs39.95 against the US Dollar.

8. Large power projects including UMPPs may soon get a total duty waiver for purchasing equipments without going through international competitive biding.

9. Railway freight earnings up 12.3% to Rs383bn in April’07-January’08.

10. Biocon acquires majority 70% stake in Germany-based AxiCorp Pharmaceuticals for Euro 30mn.

11. Patel Engineering in a JV with KNR Constructions has bagged a Rs2.1bn NHAI contract.

    Business standard

12. British Gas (BG) picks up stake in ONGC’s two deep water exploration blocks.

13. BEML signs agreements with different companies to manufacture defense equipment in India.

14. Bharat Electronics signs Mo U with Israel’s defense equipment maker for making missile electronics and missile guiding systems for Indian military.

    DNA

15. NTPC selects three foreign companies for a 40% stake in its renewable energy JV with ADB. (DNA)

16. Reliance Communications likely to place an order for 5mn set top boxes for its proposed DTH broadcasting venture. (DNA)

17. BEML order book to increase by 25% this fiscal. (DNA)

18. Bajaj Auto gets High Court approval for the proposed de-merger. (DNA)

    Financial express

19. Bhel and Alstom bids for 740MW gas power project by ONGC Tripura Power Corporation. (FE)

20. Tata Group invests an undisclosed sum in Singapore-based private jet operator, BJETS. (FE)

21. UB Group to expand its product basket by launching about 80 wine brands including imported brands this year. (FE)

22. Sun TV to launch FM Radio stations in Kerala and Karnataka on February 20^th and 21^st respectively. (FE)
    
    Hindu business line

23. Satyam Computers sets up a 350-seater delivery center in Hyderabad.

24. JSW Steel to increase its galvalume steel capacity to 0.6mtpa by October 2008.

25. Bhushan Steel sings an agreement with MP Government for setting-up coke and cement plants with an investment of Rs30bn.

26. Coal India and IL&FS to form a JV to undertake project development for mine, power and other coal-based projects.

27. 3i Infotech plans a JV with Chinese company for servicing its domestic clients.

28. Finance Ministry extends the service tax refund scheme for exporters to include three more services -

29. couriers, goods transport agencies and container transportation by rail.