1. Economy likely to expand by over 8%: CII survey Indian industry expects the economy to grow by over 8% during 2010-11, mainly due to rise in capital investment and capacity utilisation, a CII survey released. "A majority of respondents (59%) expect GDP growth rate to be above 8.0%...," the CII's 74th Business Outlook Survey for October-December quarter based on responses of 150 companies said. The government has projected the economy to grow between 8.5 and 8.75% this fiscal. The GDP recorded 8.8% growth in the first quarter of this fiscal. With GDP clocking high growth, over 60% of the respondents expect an increase in their capacity expansion during the October-December period over the previous quarter.

2. Gold vending ATMs may become a reality in India Indians might soon get a chance to buy gold from ATMs, as Germany's Ex Oriente Lux AG is in talks with Indian entities for setting up gold dispensing automated machines in India. Ex Oriente Lux AG, which also operates an online shop for the yellow metal, is the maker of gold vending machines. A company official said that talks are going on with interested entities in India to set up gold dispensing ATMs in the country.

3. US hopes for more action from China on currency correction The US administration has delayed its report on Yuan to Congress, holding back possible punitive action against China in recognition of steps to accelerate the Chinese currency appreciation, to the advantage of the American economy.

4. Japan pulls out of Iran's biggest onshore oil field project Japanese oil developer Inpex Corp. said Friday it would withdraw from Iran's Azadegan oil field project, a move believed to be aimed at keeping it off a list of firms subject to US sanctions.

5. UK banks to create 1.5 billion-pound business fund Britain's six largest banks will start a 1.5 billion-pound ($2.4 billion) fund to help smaller companies to get financing after the government threatened to curb bonuses unless firms boost lending. HSBC Holdings Plc, Barclays Plc, Royal Bank of Scotland Group Plc, Lloyds Banking Group Plc, Standard Chartered Plc and Banco Santander SA's UK unit will contribute to the fund "over a number of years”.