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Maruti's overall investment till 2013 to go up

Maruti's overall investment till 2013 to go up
New Delhi: Maruti Suzuki India's overall investments will go up to Rs 6,125 crore during the 2010-13 period, with the company Tuesday stating that it will set up a third plant at its Manesar facility at a cost of Rs 1,925 crore.

Addressing shareholders of Maruti Suzuki India (MSI) at the company's Annual General Meeting, Suzuki Motor Corp Chairman Osamu Suzuki said the new plant at
...
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Business News

S Australian WIA signs MoU with CII

CHENNAI: South Australia is establishing a permanent water industry relationship with India after being selected as the International Partner of Choice for the Confederation of Indian Industry (CII) Water Institute, based in Jaipur.
 
This information came to light when South Australia’s Premier Mike Rann witnessed the launch of the partnership and the signing of a memorandum of unders
...
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Business News

Saudi awards $2.44 billion power plant deal

Saudi awards $2.44 billion power plant deal
CAPITALS: Saudi state-owned Saline Water Conversion Corporation (SWCC) has awarded a 2.44 billion US dollar power plant contract to a group led by China's Sepco III Electric Power Construction Corporation, an industry source said on Tuesday. The group, which includes Saudi Arabia's Al-Arrab Contracting Co, will build a 2,400 megawatt (MW) plant that will be integrated with a water desalination facility in Ras Azzour, on Saudi Arabia's Gulf coast. Sepco III and Al-Arrab's bid was the lowest.

"A le...
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Business News

India-based multinationals nominated for U.S. award

India-based multinationals nominated for U.S. award
General Electric Company (India) and PepsiCo (India) are among twelve finalists selected for the United States Secretary of State’s prestigious 2010 Award for Corporate Excellence (ACE).

The companies were chosen from a “record number” of 78 nominations submitted by American ambassadors around the world, a primary qualification for nomination being the requirement that the companies were international business leaders who recognised the role of U.S. businesses abroad as good corporate citizens.
Re...
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Business News

Hitachi unveils new range of hard drives

Hitachi on Tuesday unveiled its new range of external hard drives, promising perfect storage solutions for users. The LifeStudio family of hard drives offers storage capacity ranging from 250GB and 2TB (terabyte) and priced between Rs.4,400 and Rs.10,900. “With the new LifeStudio family, the company is breaking through the long-established confines of the category and is delivering an external drive that combines highly reliable storage and new levels of data protection with content organisation...
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Business News

KEC International to acquire SAE Towers

KEC International has signed a definitive agreement to acquire 100 per cent of SAE Towers Holdings LLC from an entity affiliated with Acon Investments LLC, a Washington-based private equity for $95 million on a cash free, debt free basis.

The transaction is expected to close this month. SAE at present has 750 employees and they will continue with the company. The deal will make KEC the largest player in transmission towers world-wide.

SAE Towers is headquartered in Houston, Texas, and is a leading...
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Business News

UAE retailers ring up smartphone recovery

UAE retailers ring up smartphone recovery
Smartphone sales are booming across the Emirates as electronics retailers benefit from rising consumer appetite for the latest telecommunications technology.

Last Updated ( Tuesday, 07 September 2010 15:10 )

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Business News

Oil falls near $74 as traders look to U.S. economy

Oil falls near $74 as traders look to U.S. economy
Oil prices fell to near $74 a barrel Tuesday in Asia as investors mull the strength of the U.S economy and demand for crude.

Benchmark oil for October delivery was down 57 cents at $74.03 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract last settled on Friday at $74.60, down 42 cents. Markets in the U.S. were closed Monday for the Labor Day holiday.

Analysts are still digesting Friday’s U.S. jobs report for August. Private employers added 67...
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Business News

China vows to boost imports, help world recovery

China vows to boost imports, help world recovery
BEIJING: A Chinese official defended the country's trade record Monday as a top economic adviser to President Barack Obama visited Beijing amid renewed pressure by American lawmakers over Chinese currency controls.

China's deputy trade envoy, Chong Quan, rejected complaints that Beijing intentionally boosts its trade surplus by promoting exports while holding down imports. Speaking at a trade forum, Chong repeated promises to boost imports of resources and high-tech equipment and to ease costs fo...
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