Maruti Suzuki India Maruti in talks with Fiat

Maruti Suzuki India Maruti in talks with Fiat

Maruti Suzuki India is in talks with the local unit of Italy’s Fiat for diesel engines. “There has been an unprecedented rise in demand for diesel vehicles, mainly because of the pricing of the fuel. Since Fiat has spare capacity, we are evaluating buying engines from them,” R.C. Bhargava, chairman of Maruti Suzuki India, said.

Port plan

New Delhi, Aug. 19: The ministry of shipping is planning special purpose vehicles to execute seven ports. The SPVs may be allowed to raise money from the market. The government plans to set up the ports by 2017 at an investment of Rs 35,000 crore.

Engineering

New Delhi, Aug. 19: Engineering exports grew 187 per cent to $8.2 billion in July on the back of rising demand from new markets such as Latin America and Africa.

Swiss tax pact

New Delhi, Aug. 19: Finance minister Pranab Mukherjee has said the pact signed with Switzerland to share banking information on demand is likely to come into force by September.

Vedanta move

London/New Delhi, Aug. 19: Vedanta Resources has reduced the size of the bridge loan needed to acquire stake in Cairn India to $270 million from $1 billion. The company did not specify the reason for cutting down the loan size.