MUMBAI, Dec 28 - Indian newspapers carried the following stories in their print or Web editions on Friday.
ECONOMIC TIMES (www.economictimes.com)
* The finance ministry is considering a proposal from the civil aviation ministry to withdraw service tax on first and business class international air tickets and halve the excise and customs duty on jet fuel.
* ONGC Videsh, the overseas arm of state-run explorer Oil and Natural Gas Corp , has struck oil in a block off Qatar. ONGC Videsh has full ownership of the well and is the sole operator. The exact size of the discovery could not be immediately determined. 
(
ONGC.BO | Add to Watchlist )
* State-run Indian Railways may cut freight rates for commodities such as steel, cement and petroleum products by five percent, in the forthcoming rail budget.
* Supplies to non-processing areas in special economic zones will attract the unified goods and services tax, once the tax regime is in place from April 2010.
* Co-founder and managing director of logistics firm Gateway Distriparks Ltd , Prem Kishan Gupta, is raising his stake, from the present 18 percent, to take management control. He may later sell some stake to a strategic player. The other founders -- a group of Singapore-based investors and Temasek -- own about 30 percent of the firm ( GATE.BO | Add to Watchlist )
* Real estate firm DLF plans to raise $5 billion over the next three years by listing five units. ( DLF.BO | Add to Watchlist )
FINANCIAL EXPRESS (www.financialexpress.com)
* Larsen & Toubro Ltd has decided to hive off its 10-billion-rupees ready-mix concrete business into a new entity. ( LART.BO | Add to Watchlist )
BUSINESS LINE (www.businessline.in)
* State-run Union Bank of Inida has has short listed Spain's BBVA and Belgium's KBC as potential partners for its mutual fund business. ( UNBK.BO | Add to Watchlist )( BBVA.MC | Add to Watchlist )( KBC.BR | Add to Watchlist )
* State-run Air India [AI.UL] is seeking compensation from Boeing for the five-month delay in delivery of aircraft. ( BA.N | Add to Watchlist )
Daily News & Analysis (www.dnaindia.com)
* Japan's Yamaha Motor Co may team up with India's second biggest motorcycle maker Bajaj Auto Ltd as part of a restructuring plan for its Indian unit. The two may either form a joint venture or Bajaj may contract manufacture for Yamaha. ( 7272.T | Add to Watchlist )( BJAT.BO | Add to Watchlist )
* Gujarat State Petronet Ltd plans to invest 25 billion rupees on new pipelines. ( GSPT.BO | Add to Watchlist )
HINDUSTAN TIMES (www.hindustantimes.com)
* The Government of Singapore Investment Corp has bought 8.5 percent of real estate firm Anant Raj Industries for 4 billion rupees or 1,220 rupees a share. ( ANRA.BO | Add to Watchlist )
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