PRESS DIGEST - Indian Business News - Sept 10

MUMBAI, Sept 10 (Reuters) - Indian newspapers carried the following stories in their print or Web editions on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

ECONOMIC TIMES (www.economictimes.com)

* Mutual funds planning to launch schemes that invest abroad are likely to get a lot more freedom in terms of investment options and limits.

* Jet Airways (JET.BO: Quote, Profile, Research), which is just about finding its feet in foreign sectors, may be in for some turbulence. The federal government has decided to protect state carrier Air India by reserving the lucrative routes in the Gulf exclusively for it.

* The Department of Telecommunications is taking a closer look at new applicants for licenses to start telecom services.

* Aerospace and defence firm Boeing Co (BA.N: Quote, Profile, Research) is evaluating a captive centre and defence sub-assembly line in India.

* Nicholas Piramal NICH.BO has decided to invest 2.5-3 billion rupees in the next two years in its recently spun-off innovative research and development unit. * The Aditya Birla group plans to invest $550-600 million in ramping up its carbon black capacities in India and abroad over the next four years.

* Component maker Federal-Mogul Corp FDMLQ.OB is looking at setting up a greenfield facility in Chennai for manufacturing friction seals for brakes and clutches.

BUSINESS STANDARD (www.business-standard.com)