Corporate News Headline
•    Avantel bagged a Rs. 68.5 mn order from Defence Ministry for the supply of satellite communication products to Coast Guard. (BS)
•    Aurobindo Pharmaceuticals received temporary approval for Tenofovir Disoproxil Fumarate tablets, 300 mg from the US Food and Drug Administration. (BS)
•    RIL had accepted the Letter of Intent placed on it by NTPC for supplying gas to the power major’s plants but refused to sign the Gas Sales and Purchase Agreement agreed upon. (BS)
Economic and Political Headline
•    The acting finance minister said that India would oppose any move toward protectionism in the US as Asia’s third-biggest economy spends more to stimulate demand to counter a drop in exports and factory output. (BS)
•    The President Barack Obama is planning to cut the US budget deficit to USD 533 bn by the end of his first term by increasing taxes on the wealthy and cutting spending for the war in Iraq. (Bloomberg)
•    The Bank of England published the amount of its first commercial paper purchases through its USD 71 bn program to unblock credit markets. (Bloomberg)