Headlines : 3 June 2009

Corporate News Headline
•	HDIL has entered into a joint venture with Mumbai Metropolitan Region Development Authority for the development of 525 acre of land under rental housing scheme at Virar. (BS)
•	Infosys Technologies has incurred a capital expenditure of Rs. 630 mn in its three loss-making subsidiaries in China, Mexico, and the US. (BS)
•	SBI is planning to raise Rs. 280 bn from bonds to meet regulatory capital requirement and to fund business growth during the current fiscal. (BS)
Economic and Political Headline
•	The Minister for Micro, Small and Medium Enterprises Dinsha Patel said that the government will address the credit needs of the tiny and small firms, while a separate fund for enterprises in the unorganised sector is proposed. (BS)
•	The number of Americans signing contracts to buy previously owned homes climbed 6.7% in April, more than forecast and the fourth increase in five months, as lower prices attracted buyers. (Bloomberg)
•	The UK mortgage approvals rose 43,201 in April, compared with 40,038 in March, the highest level in a year, underpinning demand for homes as the property-market slump shows signs of easing. (Bloomberg)