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Wednesday, November 26, 2008

Tata Steel - VolkerWessels increases investment in UK rail

Tata Steel Ltd has informed that on November 26, 2008, Corus UK sold its 50% stake held in GrantRail Group Ltd to VolkerWessels, its joint venture partner. GrantRail Group is providing rail infrastructure services and is not a part of Corus' core business i.e. steel production activities.

In this connection, Corus and VolkerWessels jointly issued the Press Release titled "VolkerWessels increases investment in UK rail".

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 03
07:00 Trade Balance (MoM) 3 2,238M 5,091M 4,859M Revised from 5,413M
07:00 Exports (MoM) 2 -2.7% -1.7% Revised from -2.4%
07:00 Imports (MoM) 2 3.8% 1.6% Revised from 1.1%
12:00 Consumer Price Index (MoM) 2 0.2% 0.0% 0.1%
12:00 Consumer Price Index (YoY) 3 0.1% -0.1% -0.1%
14:00 BoE Credit Conditions Survey 1
14:00 S&P Global Services PMI 1 51.3 51.3
14:00 S&P Global Composite PMI 1 50.7 50.7
18:00 Nonfarm Payrolls 3 110K 139K
18:00 Average Hourly Earnings (YoY) 3 3.9% 3.9%
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