Reliance Industries Ltd (RIL) is working towards the launch of a Yankee bond, which could well be the bond with the longest maturity by an Indian issuer. According to bankers here, the company, which made its debut in the US bond market last year with a fixed rate bond offering aggregating $150 millions, is now planning to launch a long-dated Yankee bond totalling a similar amount. In an attempt to set a benchmark, the company is working towards launching a bond with a maturity of over 20 years.

Move to take over SWC units by Henkel dropped

The move to take over the consumer products business of Shaw Wallace and Company and two of its arms — Calcutta Chemicals Ltd and Detergents India Ltd — by Henkel KGaA of Germany has been called off, it is learnt. Negotiators on behalf of SWC are believed to have advised Henkel of their disappointment at the way the entire transaction was handled by the German consumer products firm and the lack of concrete evidence of availability of funds, and the seriousness to complete the transaction.

Govt. will speed up reforms for growth: Sharma

The President, Dr. Shankar Dayal Sharma, today said the new BJP-led Government at the Centre would “invigorate the growth impulses in the economy and control inflation by accelerating economic reforms” to put India back on the road to emerging as an economic power. Dr. Sharma, in his joint address to Parliament, said the BJP-Shiv Sena coalition Government's vision of the country's economy comprised transparency in governance, a further acceleration to the process of economic reforms, a fresh impetus to infrastructure development and establishment of a sound framework of fiscal and monetary policies.

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