Business News Tablet Mar 22, 2013

[Rajesh Desai]

Morning News (click on link to read article)

Economic Times		Business Standard
Ø  S&P cuts Cyprus credit rating one notch to 'CCC' Ø  Sri Lanka to seize part of IOC's oil depot after UN vote Ø  UNHRC adopts resolution against Sri Lanka Ø  Telcos need to invest Rs 2.5 lakh cr to meet policy goals Ø  ONGC to invest Rs 4,051 cr in Mumbai High field infra revamp Ø  Govt may liberalise FDI norms for single-brand retail for big bucks		Ø  ECB gives Cyprus bailout ultimatum, banks face cutoff Ø  SAIL crosses offer-for-sale hurdle, valuations attractive Ø  Karnataka HC approves Wipro's demerger plan Ø  Quadria Capital acquires Milestone Religare PE Ø  Mutual fund self regulators: Sebi invites applications Ø  RBI says no systemic issue in Cobrapost expose
Business Line		Mint
Ø  ONGC notifies three oil and gas discoveries Ø  JSW Steel to import iron ore to run its plants Ø  Private sector leads power capacity addition in 2012-13 Ø  Hit by poor response, NCDEX reworks South-focused gold contract Ø  SSTL may have to pay Rs 463 crore as charges: Sources Ø  Textile Ministry wants compensationfor Cotton Corpn to release stock		Ø  Power loan recast hits roadblock Ø  Power, fertilizer ministries may oppose increase in gas price Ø  30 banks to switch to risk-based supervision from 1 April Ø  IL&FS opposes Satyam merger in AP high court Ø  Tata Motors’ cash flows may get hit further Ø  Chrome, Android operating systems to stay separate: Eric Schmidt
Financial Express		Financial Chronicle
Ø  SC relief for Jaypee Group firm Jaiprakash Associates Ø  Appetite for stocks remains high, says BofA Merril Lynch survey Ø  Morgan Stanley upgrades India's Titan shares Ø  Vijay Mallya has not given any revival plan so far: Ajit Singh Ø  Jaya govt goes for tax-free budget ahead of next LS poll		Ø  6 banks may merge to create two big players Ø  Sebi asks firms to pay investors via ECS to track cash Ø  CCI clears five oil and gas blocks Ø  Rupee up 14 paise Vs USD in early trade Ø  NCDEX hopeful of relaunch of guar futures in one month Ø  Reconsider decision to drag India to WTO on solar energy

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CA. Rajesh Desai