Daily News Roundup - Dec 3 2009

ONGC along with partners will invest US$10bn into Iran gas fields. (FE)

ABG Shipyard exits Great Offshore race, yet to withdraw open offer. (ET)

Tata Teleservices launches Photon TV – mobile TV on high speed broadband wireless services. (BS)

Over a tenth of Tata Motors’ Nano’s initial bookings are being cancelled mainly because of delivery delays. (BS)

Tata Steel owned Corus is preparing for major re-branding initiative resulting into replacement of the eleven year old Corus badge with the Tata brand. (BS)

DLF plans to list DLF Assets Ltd (DAL) in Singapore in June 201 to raise about US$1.2bn. (FE)

L&T looks to outsource power equipment manufacturing. (BL)

IOC may offload bonds worth Rs10-15bn. (BL)

Maruti exports 0.1mn A-Star in less than a year. (BS)

Gammon India bags orders worth Rs4.6bn. (FE)

Tata Teleservices added 3.9mn subscribers for November 2009. (BS)

BSNL not to join consortium to buy 46% stake in Kuwait’s Zain Telecom as of now. (ET)

REC to launch follow on issue in January 2010. (BS)

CIL pitches for 15% disinvestment in the company. (BS)

HCL BPO eyes buyouts UK and US in media and entertainment sector. (BS)

Pantaloon Retail is planning to invest Rs3.6bn this year to add up 2.4mn sq ft. (ET)

Wipro to hire 5,000 employees in next couple of months. (ET)

Solicitor General has withdrawn from an arbitration case between Sterlite and Government of India over valuation of 49% stake in BALCO. (ET)

Government eyes Rs140bn from stake sale in three PSUs – NTPC, Satluj Vidyut Nigam and REC. (ET)

PNB to cover 100,000 villages by 2013. (BL)

Credit growth back in double digits, growing at 10.8% yoy for the fortnight ended November 23, 2009. (BS)

Sugar mills in Uttar Pradesh have raised the prices of sugarcane per quintal to Rs200-205. (BS)

Cabinet is expected to clear pension fund reforms bill today. (ET)

Government likely to set carbon intensity reduction target in Parliament today. (ET)

Fertilizer sector needs Rs350bn investments to augment capacity and meet demand, according to The Fertilizer Association of India. (BL)

Mandatory PF for salary up to Rs15,000 on cards. (FE)