Corporate News Headline
•    Maytas Infra has sought extension of time to achieve financial closure for the Rs. 121.32 bn Hyderabad Metro Rail Limited project. (BS)
•    Maytas Infra has sought extension of time to achieve financial closure for the Rs. 121.32 bn Hyderabad Metro Rail Limited project. (BS)
•    Bharat Petroleum sold Rs. 950 mn of bonds to the country’s central bank to fund its purchases of crude oil. (Bloomberg)
Economic and Political Headline
•    The government has collected Rs. 2,962 bn from direct taxes so far this fiscal, prompting the authorities to assert that the target of Rs. 3,450 bn for 2008-09 will be met. (BS)
•    The US housing starts in February unexpectedly snapped the longest streak of declines in 18 years, raising optimism the market may be finally finding a floor. (Bloomberg)
•    The Bank of Japan said that it may provide as much as USD 10 bn of subordinated loans to banks to replenish capital depleted by falling stock prices and revive lending. (Bloomberg)