Top foreign and local stories on Wednesday afternoon

China's BYD to boost battery production capacity: Chinese automaker BYD Co Ltd plans to use funds raised in a potential private placement to boost battery production capacity and develop new models. It is reported that the company was planning to raise up to 12 billion yuan (US$1.9bil) in the placement. —Reuters

RBI poised to cut interest rates: The Reserve Bank of India is likely to cut its benchmark interest rate by 25 basis points to 7.25% when it meets on June 2 and make a similar move before December, a poll shows. The RBI has already cut rates twice this year. — Reuters