The apex bank and central government are worried about slowdown in industrial growth following international financial crisis. More monetary steps are expected by RBI in coming days including revision of key interest rates. 

Global consultancy firm Dun and Bradstreet expects that Reserve Bank may cut CRR and Repo rate by 50 basis points to ensure proper money supply in country’s financial system. The central bank had already slashed Repo rate and CRR in its previous policy revision causing some stability in the monetary system.

Maputo - South Africa has partnered up with energy-rich Mozambique to build a new power station aimed at relieving energy shortages in Africa's largest economy before the 2010 football World Cup, Mozambique's Noticias newspaper reported Friday.

Washington - Brazil expects that the G20 summit in Washington on Saturday will end with an agreement on "greater regulation" in financial systems, Brazilian Foreign Minister Celso Amorim and Finance Minister Guido Mantega said Friday.

Mantega said the summit's goal, will be to establish "workgroups" with deadlines to "present results on, for example, how to regulate financial markets." They also expect a decision to hold such meetings more regularly.

At Sardar Patel Stadium, Lahore Badshahs defeated Hyderabad Heroes in the first final of the Indian Cricket League’s 20s tournament. Chasing a target of 171, Badshahs survived a middle-order collapse before reaching the target in 19.1 overs in the best-of-three finals. 

Imran Nazir started beautifully with two sixes and three fours in 10 balls to amass 28 runs in two overs before getting out at the hands of Justin Kemp at mid-on on Abdul Razzaq delivery in the next over. 

New York - UN Secretary General Ban Ki-moon said Friday the flare-up in fighting that violated the ceasefire in Gaza Strip has the potential to inflict more suffering and violence to the civilian population.

Rockets fired into Israel by Palestinian militants and Israeli retaliation have threatened the truce agreed upon since June between the two sides, Ban said, calling on both sides to respect international humanitarian and human rights law.

Mexico City - Mexican President Felipe Calderon said Friday that he was going to the G20 financial summit in Washington with "moderate expectations," because he expects it to be just a "starting point" to tackle the global crisis.

"It would be desirable to have, towards the end of the meeting, mechanisms, working teams, with concrete tasks assigned that allow us to prepare and work in later G20 meetings," Calderon said as his goal, just before he left for the United States.