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RBI tightens ECB norms
With improvement in the global credit markets and narrowing of spreads, the Reserve Bank of India (RBI) decided today to reintroduce the ceiling on interest rates that Indian companies pay for external commercial borrowing.

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Won't revisit cases handled by arrested CLB member: Govt
The government today said it will not relook into the investigations handled by arrested CLB member R Vasudevan, when he was heading the inspection department of the ministry of corporate affairs.

News of the day

West Coast records PAT of Rs 20.58 cr
The West Coast Paper Mills has recorded a net profit after tax of Rs 20.58 crore for the first quarter of the present financial year, against Rs 20.34 crore in the same period last financial year, an increase of 1.18 per cent. An expan-sion programme with outlay of Rs 1300 crores is in advanced stage of implementation, accor-ding to a press release from the company. Fibre Line will be commissioned in August and the Paper Machine is expected to be commiss-ioned in January 2010.
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Mixed cues across Asia

The Hang Seng is trading at 21,394, lower by 283 points, while the Nikkei is at 10,776, higher by 11 points. - Asian markets end flat; Hang Seng up 1% - Citi hires Morrison as Senior Adviser of Asia biz - CIL lowers production target as late clearances delay projects - Asian markets off day"s lows - A V Rajwade: US-China flashpoints">A V Rajwade: US-China flashpoints - Soft power and hard currency Straits Times is at 2,908, lower by four points, Taiwan Weighted is at 8,225, down 23 points, and Shanghai Composite is at 3,213, weaker by 33 points. Seoul Composite is at 1,716, up five points. -------------------------------------------------------------------------------------(Updated at 0823am) It is a mixed bag, as far as the Asian markets are concerned. The Hang Seng is trading at 21,420, lower by 257 points or 1.1%, while the Nikkei is at 10,818, higher by 53 points or 0.5%. Straits Times is firmer by 2 points at 2,915 and Seoul Composite is at 1,714, up four points or 0.2%. Taiwan Weighted has opened at 8,211, down 37 points or 0.4%, and Shanghai Composite is at 3,200, weaker by 46 points or 1.4%.


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