Mexico City - The pilot of the plane that crashed last week in Mexico City killing Interior Minister Juan Camilo Mourino and 13 others did not keep enough distance from another plane, which may have caused the crash.

Mexican Transport Minister Luis Tellez said Friday that there were indications that the resulting turbulence "may have been a factor that contributed to the fall of the plane," but the investigation is ongoing to prove what he now called a "solid hypothesis."

Hyundai Motor India Ltd is planning to launch a smaller car model than Santro in the Indian market. Senior Vice-President (Marketing and Sales) of Hyundai Motor India (HMIL), Arvind Saxena said that small car would hit the market in 2011. He said that the ongoing slowdown due to international crisis has adversely hit automobile industry across the globe but it has not impacted growth of Hyundai. The company has a huge export base and it is growing despite global financial crisis.

Reliance Industries (RIL) Chief, Mukesh Ambani, has become the richest Indian in the world with net worth of $20.8 billion. He displaced steel giant Lakshmi Mittal, according to the recent data of 40 richest people, compiled by Forbes magazine. India is left with 27 billionaires from 40 last year and its 40 richest people maintain net worth of $139 billion.

Leading railways equipment manufacturer, Bombardier Transportation, has decided to increase its presence in India. It would develop India as a metro car production hub for the Southeast Asian region, in the next 4-5 years. 

The company launched a new railway vehicle-making facility at Savli, Vadodara in Gujarat. It would produce stainless steel car bodies and bogies and carry out final assembly at Savli plant. It would start operation very soon, after orders of Delhi Metro Rail Corporation (DMRC).

The apex bank and central government are worried about slowdown in industrial growth following international financial crisis. More monetary steps are expected by RBI in coming days including revision of key interest rates. 

Global consultancy firm Dun and Bradstreet expects that Reserve Bank may cut CRR and Repo rate by 50 basis points to ensure proper money supply in country’s financial system. The central bank had already slashed Repo rate and CRR in its previous policy revision causing some stability in the monetary system.

Maputo - South Africa has partnered up with energy-rich Mozambique to build a new power station aimed at relieving energy shortages in Africa's largest economy before the 2010 football World Cup, Mozambique's Noticias newspaper reported Friday.