Daily News Roundup - June 9 2010

Bharti Airtel announced the completion of its deal to acquire the African assets of Zain, at an enterprise value of US$10.7bn. (BS)
US-based Georgia Institute of Technology (Georgia Tech) and Infosys Technologies announced to partner on potential research and educational opportunities. (ET)
The Inter-connected Stock Exchange of India has selected TCS to install and manage its integrated trading, clearing and surveillance platform. (FE)

Reliance Industries got a year’s extension for its SEZs in Haryana and Navi Mumbai. (BS)
Hindustan Unilever intends to dramatically increase its rural distribution reach. (BL)
Tata Steel said its subsidiary, Tata Steel Global Mineral Holdings, has raised its stake to 27.4% from 19.9% in Canada's iron ore explorer New Millennium Capital Corp. (FE)
Hindalco expects domestic demand to post a double-digit growth in the current financial year. (BS)
Hindalco Industries plans to borrow about Rs140bn in the next couple of years to build two new plants. (ET)
Tata Power plans to add 750MW during 2010-11. (BS)
JSW Steel registered a 23% rise in crude steel production in May to 0.56mt compared to the corresponding period in the previous year. (FE)
The government has allowed DLF to revive its plan for a SEZ in Kolkata. (ET)
Yes Bank plans to open 100 new branches in a year. (ET)
GMR Group is planning to re-design and revive its plans to set up a SEZ in Tamil Nadu from an IT & ITeS based SEZ to a solar energy based manufacturing zone. (BS)
HCC Infrastructure, a 100% subsidiary of HCC, inked a MoU with Orascom Construction Industries for bidding and developing large NHAI projects in India. (BS)
NMDC is forming a 51:49 joint venture with Monnet Ispat & Energy to acquire and develop coal blocks in India. (ET)
Ranbaxy Laboratories launched the generic version of Lipitor in South Africa. (BL)
Glenmark Pharmaceutical has scored in its patent tussle with Sanofi Aventis and Abbott after the New Jersey district court upheld the challenge by the Indian company for a hyper-tension drug. (ET)
Aurobindo Pharma said it has allotted 0.16mn shares worth US$20mn to some of the company's FCCB holders. (FE)
KSK Energy has entered into a power purchase agreement with the Gujarat Urja Vikas Nigam Ltd for supply of 1,010MW of power from its power plant coming up at Nariyara in Chhattisgarh. (BL)
Goldman Sachs Investment Partners Mauritius picked up 6% stake in SpiceJet by converting the 150mn warrants it had purchased from the airline in December 2008 into equity. (ET)
Japan's JR Kyushu Group and Patni Computer Systems announced a 51:49 JV to provide IT and product engineering services to the Japanese enterprise market. (BL)
Neyveli Lignite Corporation (NLC) has swapped a loan taken from REC at 11.1% with borrowings at 9.7% from a consortium of 12 banks, headed by public sector lender Bank of Baroda. (FE)
Andhra Bank has tied up with UAE Exchange Centre WLL, Kuwait for speedy remittance of funds from Kuwait to its customers. (BL)
Dish TV plans to launch Conditional Access Module, a device that allows subscribers to switch over to a new operator using the same set-top box. (BL)
Punj Lloyd won a contract worth Rs1.8bn from the Rajiv Gandhi Institute of Petroleum Technology to construct their technical institute at Jais in Rae Bareli, Uttar Pradesh. (BL)
Consolidated Construction Consortium bagged Rs2bn order from the Airports Authority of India for development works at the Goa Airport. (FE)
Apollo Tyres plans to spend Rs11bn for increasing production capacity at its facilities in India and overseas during the 2010-11. (BL)
South Korean company Doosan Heavy Industries and Construction Co Ltd is planning to set up a power equipment manufacturing facility in India. (BL)
Jindal Infrastructure Limited, a JSW Group Company, which proposed to up Rs22.4bn captive deep sea port at Bichitrapur in Orissa's Balsore district, targets to achieve a cargo throughput of 10mtpa in the first phase. (BS)
A meeting called by the Chief Labour Commissioner failed to resolve the workers' strike which began on Sunday night at Hyundai Motor India Ltd's factory at Sriperumbudur, Chennai. (BS)
Lodha Developers will invest Rs20bn to develop the world’s tallest residential tower in Mumbai. (ET)
The power ministry is likely to change the location of the proposed 4,000MW UMPP at Sarguja in Chhattisgarh. (BS)
The Drugs & Pharmaceuticals Manufacturers Association has received in-principle approval for its proposed SEZ for pharmaceuticals, bulk drugs, active pharmaceutical ingredients and formulations to be located at Nakkapalli mandal in Visakhapatnam district. (BS)
The government has asked CNG retailers in the national capital and Mumbai to defer by a week the increase in CNG prices that had become necessary after doubling of natural gas prices. (BS)
The steel ministry has proposed to introduce stricter norms for iron ore exports by way of a grading system for duties and consider eligibility criteria for exporters or companies engaged in the activity. (BS)
The government is considering radical changes in its policy for appointment of heads of blue-chip PSUs. (BS)
The Board of Approval for Special Economic Zones granted approvals to six new SEZs with a total proposed investment of over Rs80bn. (BL)
The Ministry of Environment and Forests has given permission for continuation of survey and investigations for three mega power projects in North Sikkim that had been put on hold following adverse reports submitted by Centre of Inter-Disciplinary Studies of Mountains and Hill Environment (CISME) last year. (BL)
The Deepak Parekh Committee on India Infrastructure Debt Fund has recommended a slew of regulatory changes to pave the way for foreign insurance and pension funds to invest in the proposed Debt Fund. (BL)
The government’s ambitious UID project will get a big boost, with country’s largest insurer Life Insurance Corporation of India agreeing to share its database of more than 200mn policyholders with the Unique Identification Authority of India. (ET)
The government’s revenue from sale of 3G and broadband wireless airwaves (BWA) crossed Rs 1tn on Monday. (ET)
State governments stuck to their demands of higher threshold for central Goods and Services Tax and keeping local body taxes and electricity duty out of it. (ET)
The government may allow export of 10,000 tons of sugar to the European Union. (ET)