~
Corporate News
NTPC plans to invest a massive Rs 2,25,000 crore in the
next seven years in capacity expansion to become a 75,000-
Mw entity. NTPC, which has a production capacity of a little
over 30,000 Mw annually, constitutes 19 per cent of the
country's total installed capacity of 1,55,000 Mw. - BS
Ranbaxy Laboratories will acquire Bangalore-based Biovel
Lifesciences for an undisclosed amount.The proposed
transaction will give Ranbaxy access to all of Biovel’s
products, pipeline, intellectual property know-how and
manufacturing facility. The products that are part of the
transaction are Typhoid Vi antigen and Hib conjugate
vaccines for which Ranbaxy also has the regulatory
approvals in India. - BS
Siemens along with its Germany-based parent company
Siemens AG - has bagged a contract worth Rs 2,956 crore
from Qatar General Electricity & Water Corporation
(QGEWC).BL
Dhanlaxmi Bank has partnered with Bank of New York to
facilitate online remittance services from the US to India. ET
BGR Energy Systems's environmental engineering division
has bagged a contract worth Rs 15.6 crore from Adhunik
Power & Natural Resources for a water treatment plant at
its thermal plant in Jharkhand. - ET
McNally Bharat Engineering has signed an exclusive
technical partnership agreement with Hiflux, Singapore for
constructing sea water desalination, water and waste water
plant in industrial, municipal and agricultural Sector in
India.BS
Macro Economic News
The Finance Ministry will give Rs 12,000 crore in cash to
Indian Oil, Hindustan Petroleum and Bharat Petroleum to
cover for less than half of the losses they incurred on selling
LPG and kerosene this fiscal.- ET
Global Cues
China property sales jumped 75.5 percent to 4.4 trillion yuan
($644 billion) last year, led by the eastern cities of Zhejiang
and Shanghai, as record new loans boosted buying.The
sales data follows last week’s announcement that
December property prices rose 7.8 percent, the fastest pace
in 18 months, adding urgency to government efforts to rein
in speculation. - Bloomberg
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R`MONEY
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