Top news for today

Uco bank to raise Rs 625 cr
State run uco bank today approved raising of funds by issuing perpectual non cumilative preference shares. This may come in tranches through public issue or private placement to individuals, companies, state govt, central govt, institutional buyers, financial instutuions and banks.
IMF willing to discuss rising food prices
The International Monetary Fund is willing to be a part of a framework that will address the issue of rising global food prices, a top official of the multilateral lending institution has said. He said the issue of rising global food prices has indeed a negative impact on trade balances and current account. The problem in trade balance means problems in current account and problems in the current account means problems for the IMF. We are going to talk about this tomorrow ... and see what decision can be made... The IMF is totally prepared to be a part of this," Strauss- Kahn said.
RIL in talks with foreign firms to dilute 10% stake in KG Basin D6block
Ril is considering bringing in a strategic partner for deep water exploration in its KG basin D6 Block. The partners could be energy gaints likeExxonMobil, Shell, BP, Total and Petrobras, as these are the companies with required expertise. Goldman Sachs is the key consultant to the deal. RIL is believed to have reached up to 1,500-2,000 meters of drilling so far and there is scope for 7,000 to 8,000 meters, for which it would need some foreign partners with expertise in this area.
Germany's Drescher bank to be in india in 2009
Germany's Drescher bank said that it would be opening branches in India after obtaining the necessary licence in 2009. India being a booming market and high potential for growth cannot be ignored said the chairman Herbert Walter in a statement posted on the web site. The banks parent company allianze has already made its presence in india through Bajaj Allianz Life and Bajaj Allianz General Insurance.
Haryana to strengthen transmission lines
TheUttar Haryana Bijli Vitran Nigam (UHBVN) has drawn a comprehensive investment plan of Rs. 722.74 crore during the current financial year to strengthen the trasmittion and distribution network. The work would be carried out in Panchkula, Ambala, Yamuna Nagar, Kurukshetra, Kaithal, Karnal, Panipat, Sonipat, Rohtak, Jhajjar and Jind and the project cost would include plan expenditure of Rs. 112.85 crore and non-plan expenditure of Rs. 609.89 crore. 33 New 33KV substations would be set up and 290km of new 33KV lines would be laid apart for agumentation of 20 33Kv sub stations.