1. Japanese funds (from Japan Bank for International Cooperation) to speed up four proposed Metro lines in Mumbai.
2. The Bombay Stock Exchange sensex fails to hang on to the initial gains and closed at 14,995. The benchmark 30-share index shot up by 600 points after US Federal Reserve announced a 0.75 percentage cut in interest rates, but succumbs to profit-booking to close at 14,995 with a gain of only 161 points. IT stock were in demand.
3. There is s steep fall in the growth in almost all the core areas of infrastructure sectors (cement, oil, power, coal), almost by 50% as compared to the growth reported for the same month last year.
4. Understanding the health insurance will become easier after June 1, 2008. It will be made more customer-friendly and transparent.
5. Time Warner promoted AOL (America Online) is selling its call centre business in India to Aegis Communications (the BPO arm of Essar Group) in an all cash deal of around $100 million.
6. The Department of Telecommunications (DoT) is considering stiff network obligations for 3G mobile services.
7. The economic impact of Arctic melt: Sea routes for transportation are likely to be reduced by 20 to 40%, thus reducing the shipping freight rates.
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