New lending program targets consumers, business TALF program finally going into operation on March 25, Fed says

A new lending program from the Federal Reserve and the Treasury Department could generate up to $1 trillion in loans to small businesses and consumers, the government announced Tuesday.

The Term Asset-Backed Securities Loan Facility, or TALF, will provide its first loans March 25 .Investors who want to participate will apply to the Fed on March 17.

PBA Infra secures contract worth Rs 4.3 bn

PBA Infrastructures announced that the company has received a contract worth Rs 4,303,591,194 from Mumbai Metropolitan Region Development Authority (MMRDA) for concretization of 30 meter internal road in G block of Bandra-Kurla Complex Phase-2.

PBA Infrastructure executes civil construction contracts like highways, dams, runways, bridges and other heavy RCC structures.

Satyam valued at Rs 40 bn

Satyam Computers, the beleaguered computer giant, has been valued at Rs 40 billion. This valuation is based upon market value of asset after netting out the current and long-term liabilities

The company`s main fixed asset is land and property which has been valued at around Rs 50 billion. This includes two prime properties in Hyderabad, valued at around Rs 25 billion. Current liabilities are in the region of Rs 7 to Rs 8 billion that include payments due to vendors and salary outgo as on date

Moser Baer eyes expansion in Europe, US

Moser Baer`s PhotoVoltaic division Moser Baer PhotoVoltaic (MBPV) has plans to enter the US market and expand its presence in Europe by the end of the year

TV Today to commence buy-back from March 16

TV Today, part of the India Today group announced that it will commence its buy-back offer from Mar. 16, 2009. The buyback process will end on July 30, 2009.

The company proposes to buyback up to 4,779,800 equity shares having face value of Rs 5 a share at a price of not exceeding Rs 115 for each equity share.

HCL Tech wins Rs 3.93 bn contract from National Insurance

HCL Technologies (HCL) announced signing an end to end IT Services engagement covering the entire IT lifecycle from transformation to integration and operations management with National Insurance Company (NIC) for a seven year period having a contract value of Rs 3.93 billion.

Suzlon China arm wins contract for 100 MW wind turbine capacity

Suzlon Energy has announced that Suzlon Energy (Tianjin), China, a wholly owned subsidiary of the company has inked an agreement with Inner Mongolia North Longyuan Wind Power Corporation, for 100 MW of wind turbine capacity.

Subhash Projects bags Rs 693.7 mn order

Subhash Projects & Marketing has received order for a value of Rs 693.7 million from Karnataka Urban Water Supply & Drainage Board, Dharwad.

Siemens arm bags EUR 200 mn order from SAIL

Siemens said on Tuesday its industry solutions division- Siemens VAI Metals Technologies received an order from Steel Authority of India (SAIL) for a new LD converter steel mill which will be built at the company`s Bhilai Steel Plant in Bhilai, India.

Jindal Steel and Power wins Rs 420 bn coal-to-liquid project

Jindal Steel and Power (JSPL) today won the prestigious project worth Rs 420 billion to convert coal into liquid petroleum and would produce 80,000 barrels of crude oil a day. The project will come up in Angul district of Orissa.

Integra Hindustan enters into triparty JV pact

Integra Hindustan Control has entered into (three party) joint venture (JV) agreement, with Gorba AG, Switzerland and Gorba Integra Systems, on Jan. 30, 2009.

Canada cuts interest rates by 50 basis points as expected

Canada's central bank reduced its benchmark overnight rate by one-half of a percentage point to 0.5% on Tuesday, meeting market expectations and bringing the cumulative monetary policy easing to 400 basis points since December 2007

USA economic data on mar-2-2009

U.S. Feb. ISM index better than 34.0% expected

U.S. Feb. ISM index 35.8% vs. 35.6% Jan.

U.S. Jan. real consumer spending rises 0.4%

U.S. Jan. real disposable incomes rise 1.5%

U.S. Jan. consumer spending rises 0.6% vs. 0.5% expected

U.S. Jan. incomes rise 0.4%, vs -0.1% expected

U.S. Jan. savings rate rises to 5.0%, 15-year high

Japan taps forex reserve in aid of firms overseas Draw of $5 billion will be used to fund loan program for Japanese exporters

Tokyo will siphon off from its foreign exchange reserve to help a special class of Japanese company in the run up to the fiscal year-end at a time when foreign credit markets remain dysfunctional, according to reports Tuesday which cited comments by the finance minister.

Intel, Taiwan Semiconductor unveil Atom collaboration

Intel Corp. and the Taiwan Semiconductor Manufacturing Corp. on Monday announced a new collaboration based on the chip maker's Atom microprocessor in what some analysts said was a bold bid to expand its market reach.

Toyota reported seeking $2 billion loan from JBIC

The auto-financing unit of Toyota Motor Corp. has asked the Japan Bank for International Cooperation for a loan of $2 billion under a recently-launched program to help Japanese firms operating abroad

Pfizer Inc. aid Tuesday that it has expanded its portfolio of generic medicines in the U.S. and Europe through a licensing agreement with India's Aurobindo Pharma Pfizer said it has acquired the rights to 39 generic solid oral dose products in the U.S. and 20 in Europe, plus an additional 11 in France. It's also acquired the rights to 12 sterile injectable products in the U.S. and Europe. Pfizer said the deal will help expand its established products business unit, which was launched in 2008. Financial terms of the deal were not disclosed.