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Tuesday, June 10, 2008

BPCL to invest $200 mn in upstream ventures
Bharat Petroleum Corp, Country's second-largest state oil refiner, will invest about $200 million, in overseas upstream ventures in the current fiscal year, its chief said on Tuesday.

Ashok Sinha, chairman and managing director, told Reuters that the investment represented the value of its 10-30 per cent share in its joint-venture partners overseas.

"Taken altogether in the current year, we are looking at the order of $200 million," Sinha said.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
11:30 Public Sector Net Borrowing 1 £17.686B £20.052B Revised from £20.155B
11:30 Retail Sales (YoY) 2 -1.3% 1.7% 5.0%
11:30 Retail Sales (MoM) 3 -2.7% -0.5% 1.3% Revised from 1.2%
11:30 Retail Sales ex-Fuel (YoY) 2 -1.3% 1.8% 5.2% Revised from 5.3%
11:30 Retail Sales ex-Fuel (MoM) 2 -2.8% -0.5% 1.4% Revised from 1.3%
18:00 Philadelphia Fed Manufacturing Survey 2 -1 -4
18:00 Industrial Product Price (MoM) 1 0.0% -0.8%
18:00 Raw Material Price Index 1 -0.8% -3.0%
18:00 New Housing Price Index (YoY) 1 -0.6%
18:00 New Housing Price Index (MoM) 1 -0.2% -0.4%
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