Business News

Mukesh Ambani-led Reliance Industries will start selling natural gas in the country at $25.20 per barrel equivalent of oil - an 80 percent discount to global prices of over $135 - helping the country reduce imports at record prices.

The stock market lost further ground tracking negative global cues and as investors were unwilling to buy shares given the uncertainty on the economic front in India. Technology and banking shares were hit hardest in the slide.

At 1:30 pm, the Sensex was down 291 points or 1.93 percent at 14,774.62. The index touched a low of 14,743.08 after briefly scaling 15,088.03.

Today, The much awaited Tata's One Lakh Rupees car 'Nano' was launched by Ratan Tata, Chairman Tata Motors Limited at 9th Auto Expo in New Delhi. (TATA Nano Pics)

India’s largest car maker Maruti Suzuki India Ltd. is showcasing three concept cars at the Auto Expo 2008 in New Delhi.

These include Concept A-Star, Concept Splash and Concept Kizashi. Production models, based on Concept A-Star and Concept Splash, will be launched in India in the near future, and will contribute to the company’s goal of achieving one million unit sales by 2010.

Bajaj Auto Ltd. on Tuesday formally announced its plan to launch a low-cost small car in two to four years.

Bajaj's announcement comes two days before Tata Motors unveiling of its one lakh rupee car at an auto show.

India's external debt for the quarter ending September stood at 190.5 billion dollars (Rs.757, 967 crore), which is 9.9 billion dollars (5.5 per cent) more than over the previous quarter.

The Union Finance Ministry stated that out of the increased amount, 5 billion dollars alone has been due to valuation change arising out of weakening of US dollar against major international currencies and Indian Rupees.

Minister of State for Industrial Policy and Promotion, Ashwini Kumar, has said that Commonwealth Business Forum would help in disseminating more information.

The forum is being held on the sidelines of the 53-nation Commonwealth Summit being held in Uganda.

"As the shift of economic power in the world is taking place I have no doubt that fora such as the Commonwealth Business Forum will help in disseminating more information about the possibilities of business in the commonwealth countries," said Kumar.

Tata Motors will roll out in the next three years its Rs 1-lakh car ($2200) involving a low-cost assembly operation, according to Tata Group Chairman Ratan Tata. (TATA Nano Pics)

Hindalco Industries Limited, the flagship company of the Aditya Birla Group, today announced its unaudited financial results for the quarter ended 30 September 2007.

NIIT, Asia's largest trainer and leading global talent development corporation, and Adobe Systems Incorporated have entered into a global alliance to create talent pool for design, web, mobile and interactive media.

Through this strategic partnership, NIIT will offer training programs on Adobe's software tools and technologies used in business, entertainment and personal communication, across its network of 32 countries.