Hindustan Dorr bags Rs 240 mn order from HPCL

Hindustan Dorr Oliver has bagged an order worth Rs 240 million from HPCL-Mittal Energy for detailed engineering, shop & site fabrication, transportations and supply of process pressure vessels weighing from 50 MT to 250 MT each.

Execution of the said project shall be completed within a period of 12 to 14 months.

McNally Bharat bags Rs 1.16 bn order from SAIL

McNally Bharat Engineering Company, engaged in providing turnkey engineering solutions announced that Steel Authority of India (SAIL), IISCO Steel Plant, Burnpur, West Bengal has accepted the company`s offer for water supply system for CCP and BOF for a total price of up to Rs 1.16 billion inclusive of tax and duties.

Sadbhav Engg`s consortium bags Rs 15.71 bn order

Sadbhav Engineering has announced that the consortium led by the company has been awarded a Rs 15.71 billion project in the name of joint venture known as `SADBHAV - SREI - SREI SAHAJ Consortium` in the ratio of 51:39:10 respectively by the Maharashtra State Road Development Corporation.

Infotech Enterprises arm signs pact with Dutch telco

Infotech Enterprises has announced that its subsidiary, Infotech Enterprises Benelux BV, has signed an agreement with the Dutch telecommunications engineering and technology company Volker Wessels Telecom to provide a new service offering in Telecommunications engineering to telecommunications industry world wide.

MCX - SX launches Kannada, Telugu websites

India`s new stock exchange MCX, has launched regional website in Kannada and Telugu on February 27 and February 28 respectively on the benefits of currency derivatives market.

The Kannada website was launched in Bangalore. MCX – SX has already launched regional websites in Hindi, Gujarati, Marathi, Tamil and Malayalam. Four more regional websites will be launched by the end of March 2009.

Tata Comm, Etisalat launch advanced services in UAE

Tata Communications along with UAE based Etisalat has announced the launch of enterprise network services, enabling to offer a range of dedicated ethernet services to the customers seeking connectivity in the United Arab Emirates (UAE) and globally.

The partnership enables Etisalat to extend its reach by offering Layer-2 Global Ethernet services into and out of the UAE. It will also allow Tata Communications to extend its global coverage in the UAE.

New Lok Sabha to form before June 2: EC

The Election Commission (EC) announced the poll dates today. The General Elections would be held between April 16 to June 1.

The new Lok Sabha (LS) will be formed before June 2. The fourteenth Lok Sabha`s term is ending on June 1.

UK economic data on mar-2-2009

Mortgage Approvals (Jan) 31K vs 33K

Net Lending to Individuals (Jan) £1.1B vs £2.1

Purchasing Manager Index Manufacturing (Feb) 34.7 vs 35.0

Consumer Price Index (YoY) (Feb) Preliminary Release 1.2% vs 1.0%

UK

Mortgage Approvals (Jan)

Euro-zone Feb. annual inflation rises to 1.2%

The annual consumer price inflation rate in the euro zone rose to 1.2% in February, up from 1.1% the previous month, the statistical agency Eurostat reported Monday in a preliminary estimate. CPI was forecast to match the 1.1% pace seen in January

U.S. takes further moves to shore up AIG

American International Group Inc. is in line to receive additional federal assistance of up to $30 billion as part of a revamped bailout of the government-owned insurance and financial-services giant, the Treasury Department and the Federal Reserve Board announced Monday.

AIG reports fourth-quarter loss of over $61 billion

American International Group the New York insurer which separately received a new rescue package from the U.S. government on Monday, said its fourth-quarter loss widened to $61.66 billion, or $22.95 a share, from the $5.29 billion loss in the year-earlier period.

AIG said it would have lost $37.9 billion, or $14.17 a share. Insurance premiums and other considerations declined by 1.9% for the fourth quarter

HSBC to shutter U.S. operations, raise $17.7 billion Profit drops 70% after goodwill charge; 6,100 jobs will be lost

Banking giant HSBC Holdings said Monday that it will shutter much of its U.S. consumer lending business and raise 12.5 billion pounds ($17.7 billion) from shareholders after reporting a 70% drop in profit for 2008
.

The bank said it will shut down the branch network of its HSBC Finance arm in the U.S. leaving only the credit card business to continue operating. The closures will result in 6,100 job losses.

Net profit for 2008 dropped 70% to $5.73 billion from $19.13 billion.