HEAD LINES

ECONOMIC TIMES

1. SBI secures full bank license from the Monetary Authority of Singapore to establish up to 25 outlets.
2. SBI to raise Rs62.7bn through foreign currency bond issue.
3. The Government plans to divest 5% stake through follow-on public offers in companies including MMTC, STC, Concor and SCI.
4. GTL promoters increase stake from 34.36% to 37.05%.
5. Aurobindo Pharma looking for strategic overseas buy-outs to double revenues.
6. PFC ties-up with Indian Renewable Energy Development Agency to fund renewable projects.
7. Bombay Dyeing, L&T JV to jointly bid for development projects in Mumbai and other cities.
8. Eicher Motors to mull major capacity expansion plan ahead of JV for trucks with Volvo.
9. Corporation Bank to raise Rs5bn through bonds to meet capital requirements.
10. Religare to acquire UK broking firm Hichens, Harrison & Co for US$100mn.
11. RBI grants license to Singapore banks, DBS and United Overseas Bank.
12. Steel makers agree to stop exports, forego DEPB benefits and supported reducing import duty on the alloy.

MINT

1. L&T wins US$240mn deal for building four ships.
2. Phoenix Mills buys 25 acres land in Bangalore from GKW for Rs3.2bn.
3. IOC expects to save Rs10mn a day on transportation once its proposed 15mtpa refinery and petrochem complex starts operations in 2011.
4. The Government has stayed plan to reduce assured return on equity on negotiated power projects on opposition by NTPC.
5. Strides Arcolab gets first US approval for HIV drug.
6. HSBC Financial's stake in Yes Bank up at 4.88%.
7. Kotak Mahindra Bank plans to lend 30% more in the next 12 months.

HINDU BUSNISS LINE

1. Nortel wins US$100mn GSM deal from BSNL.
2. Voltas not to hike prices of air-conditioners despite rising input costs.
3. ONGC targets 29.04MT crude production in 2008-09.
4. Gail sets gas transmission target of around 81.5mmscmd in 2008-09.
5. Cement, power companies to buy ships to cut costs.
6. Nilkamal to invest Rs1.5bn by 2011 to expand its furniture retail chain.
7. Union Bank likely to post lower credit growth this fiscal at around 20% against projected 23-25%.
8. Federal Bank to open 26 branches across 11 states today.

BUSINESS STANDARD

1. Jet Airways plans to dilute stake by 10%.
2. Reliance Power to spend Rs30bn for mines to fuel Sasan project.
3. Car manufacturers consider price hikes on input cost pressures.
4. FDI cap in DTH to go up to 74%.
5. ECB policy likely to be relaxed; cap for current financial year may go up to US$28-30bn.

FINANCIAL EXPRESS

1. REL buys back 250,000 shares through open market purchases on first day of share buyback programme.
2. Tata Chemicals to raise US$850mn to part fund its US$1bn acquisition of US-based General Chemicals Industries Products.
3. Ministry of Commerce to consider waiving off 26.33% duty levied on coal exported by Coal India.
4. CPI wants to prevent the Government from acquiring lands and enforce trade union laws in SEZs.
5. Indian companies witnessed a slowdown in ECB and FCCB mop-up in November-January, says RBI.
6. I&B Ministry gives approval to hike FDI to 24% from 20% in FM radio operations.