1) Air India has decided to slash fares on 48 domestic routes by 3-23% effective September 1st to increase market share in the price sensitive Indian market. 2) Google will allow free calls from Gmail to US and Canadian phones and numbers for the rest of the year, charging international calls to online accounts. 3) Mahindra & Mahindra plans to bring SUVs from acquired Korean automaker Ssangyong to India within 4 months at a cost of $500 million. 4) India's new direct tax codes raise income tax exemption limit and set tax rates from 10-30% for various income brackets above Rs. 2 lakh.

1. Fares Reduced By Air India Air India has decided to slash fares to shore up market share Fare reduction on 48 domestic routes by 3-23% effective from September 1 India price sensitive market; lower fares can result in higher traffic & garner more market share Discounts in up coming winter season

2. Make Calls From Google Google Inc said users of Gmail will be able to call home phones and cell directly from email Google promised free calls to US & Canadian phones from Gmail for rest of this year Calls that charge money will be charged from an online account that users can top with a credit card

3. Mahindra- Ssangyong Deal M&M plans to bring Ssangyong vehicles to India after deal SUV- Korando, Kyron and Actyon Mahindra & Mahindra to complete Ssongyong buy in 4 months The takeover cost could be $500 Mn.

4. Direct Tax Codes Income tax exemption limit raised from 1.6 lakh to 2.0 lakh Income from 2 to 5 lakh will have 10% tax 5 to 10 lakh will have 20 % More than 10 lakh will have 30%

5. BlackBerry Banned India may extend August 31 deadline in its standoff with Research in Motion over access to BlackBerry in India BlackBerry security is based on a system where the customers create their own key and the company neither has a master key nor any back door to allow RIM or any kind third party to gain access to crucial corporate data

6. GPS based services on Board Trains The satellite imaging for rail navigation Reduction in accidents at unmanned level crossing Global Positioning System works installed in a train which identifies its latitudinal and longitudinal values and speed by receiving information through GPS

7. Tata motors Tie up With IndusInd Bank Automaker Tata motors has entered into an understanding with IndusInd Bank for financing its range of passenger vehicles IndusInd ranks in top retail financiers for Tata motors commercial vehicle segment

8. Vedanta - Cairn Vedanta Group to acquire 51 to 60% of Cairn India Limited for an aggregate consideration of around $ 9.6 billion Post completion it is expected that Vedanta resources PLC will hold 31 to 40% of Cairn India directly and Sesa will hold 20% Shares acquired from Cairn energy PLC to be acquired at a price of Rs 355 per share ; Vedanta will also pay a non compete fee of Rs 50 per share.