Corporate News Headline
•    Reliance Industries is planning to sell petrol and diesel from its twin refineries at Jamnagar in Gujarat directly to the US. (ET)
•    Ashok Leyland has reduced its investment size and plans to save Rs. 10 bn in the next three years, as part of a conscious effort to trim its capital expenditure. (BS)
•    Dr Reddy’s Laboratories has crossed the figure of USD 150 mn in revenue in the Russia and CIS region for the fiscal year 2009. (ET)
Economic and Political Headline
•    The IMF advised India to initiate more monetary steps to battle the country’s slowing economic growth, which the international multilateral agency expects to moderate to 6.25% in the current fiscal and fall further by one percentage point in 2009-10. (ET)
•    The Federal Reserve has pledged to buy as much as USD 300 bn of Treasuries and stepping up purchases of mortgage bonds. (Bloomberg)
•    The US consumer price index climbed 0.4% in February reducing concern of a deflationary spiral that might push the nation toward a depression. (Bloomberg)