Italian carmaker Fiat is setting up a joint
venture with U.S. peer Chrysler.
It is to make top-of-the-range SUV cars at its
Mirafiori plant in Turin
Italy's largest industrial group, which owns 20
percent of U.S.-based Chrysler, said the plan
would require an investment of over 1 billion
euros ($1.3 billion).
The Mirafiori plant employs around 5,500 staff
for car-making and it is one of Italy's biggest
plants, along with Melfi in southern Italy.
Vivek Kulkarni, an ex-IAS officer, has stepped
down from the Board of the Bombay Stock
It is believed to have cited lack of corporate
governance as a reason for his resignation.
Kulkarni is believed to have objected to the
exchange's proposal to buy Computer Age
Management Services, a mutual funds registrar
and transfer agent.
He had also raised objections to the HR policy
pursued by the bourse, among other things,
South Korean electronics major Samsung,
which has announced Rs 350 crore fresh
Planning to make India its production hub
for Middle East and other neighbouring
markets in five years.
Samsung's Indian subsidiary, Samsung India
Electronics has signed a memorandum of
understanding (MoU) with the Tamil Nadu
government to expand its facility
Some of the leading technology
companies such as Google are raising the
compensation for its employees.
Firms are lifting pay rates apart from taking
other measures to retain employees.
Intel also has given message to employees
"that bonuses early in 2011 would be the
highest in a decade".
The Supreme Court issued a notice to the
Karnataka state government asking why it
must not admit an appeal by mining firm.
MSPL Ltd that challenged a ban on iron ore
exports from the state.
The Karnataka government banned exports
of iron ore from 10 ports in the state.
It was a drive against illegal mining and the
need to preserve the resource for local