• GE Shipping set to demerge
• TCS, Infosys win large ABN IT deal
• GAIL and China Gas may join hands on petrochemical project
• Domestic cellular services revenue to touch US$24bn by 2008-09
• Rs.one lakh car from Tata to be gearless
• Tata Ryerson seeking opportunities abroad - expanding base at home
• Posco Indian subsidiary incorporated
• Next generation Indica and Indigo models to be vastly superior
• Ashok Leyland to roll out new range of luxury buses and heavy duty trucks

GENERAL

• Ernst & Young appointed advisor to Iran pipeline project
• ADB chief: Despite oil price worries India to sustain seven per cent growth rate
• Council prepares draft plan for manufacturing sector
• Delhi govt. to share rollback burden along with Tata Power and BSES

• Rupee slides to 8-month low
• RBI: T-bills auction fully subscribed
• LIC offers largest ever term cover of Rs.6,000 crore to Infosys staff
• IOB asks RBI to exempt it from diluting Bharat Overseas stake

MARKETS

• Finance ministry issues revised guidelines for companies issuing GDRs
• SEBI clears corporatisation of the Hyderabad Stock Exchange
• Titan announces rights issue of Rs.127 crore

• Oil prices slide on US offer to draw from strategic reserves
• US poverty rate goes up as 1.1 million more join the ranks