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Corporate News
Larsen & Toubro is gearing up to enter the general insurance
business with no plans of a foray into the life insurance - BL
Maruti Suzuki will now look for opportunities to export the
small car Ritz to South East Asia and the Middle East.The
company has sold over 51,000 units of Ritz since its
introduction in the domestic market in May, 2009. - BL
NHPC Ltd and Satluj Jal Vidyut Nigam Ltd (SJVN) and the
government of Manipur to develop the Rs 8,138-crore
Tipaimukh power project in the north-eastern state is likely
to be signed by the end of the current financial year - BS
Shree Renuka Sugars will put in the final bid for Brazil’s
Equipav Acucar E Alcool next week - ET
Indiabulls Group will develop a Special Economic Zone
(SEZ) at Sinnar near Nashik in association with the
Maharashtra Industrial Development Corporation. - BS
Eveready Industries India (EIIL) is on the prowl once again.
This time it’s looking to acquire a Rs 200-crore company in
the domestic FMCG space. - ET
Macro Economic News
Foreign investment promotion Board will soon have the
authority to approve proposals involving foreign equity
investment of up to Rs 1,200 crore, facilitating faster
processing of overseas investment proposals. - ET
Global Cues
China’s government netted 1.6 trillion yuan ($234 billion)
from land sales last year, or 40 percent of the cost of the
nation’s two-year stimulus package.China sold or allocated
319,000 hectares (788,266 acres) of land in 2009, 44
percent more than a year earlier - Bloomberg
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R`MONEY
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