Belgrade - Serbia and the Italian carmaker Fiat on Monday signed a joint-venture deal expected to bring almost 1 billion euros (1.3 billion dollars) in investment and revive the moribund Serbian car industry. 

Fiat would pour 700 million euros and Serbia another 200 million euros into the Zastava factory in Kragujevac, which once made the infamous Yugo car. 

Washington - The troubled automakers General Motors, Ford and Chrysler got a lift Saturday from the US Congress, which gave the final green-light for 25 billion dollars in loans to the auto industry to help develop fuel-efficient cars.

Congress also lifted an offshore oil-drilling ban and approved 602 billion dollars for the departments of defence, homeland security and veterans affairs.

The final approval came from the Senate after the House of Representatives gave approval earlier this week.

India's leading car manufacturer Maruti Suzuki plans to launch its all new compact sedan, A-Star, by mid November in the domestic market.

With the launch, India will become the first country to drive this car designed and developed by the company as a global strategic model. Swift, Sx4 and Grand Vitara were among the other world strategic models that the company had launched in India earlier.

The latest car will be Maruti Suzuki's seventh model in the A2 segment, which will compete with rival car models like Hyundai i10, Tata Indigo CS, Swift among others.

Two-wheeler maker Kinetic Motor has informed that it will invest up to Rs 30 crore in Mahindra Two Wheelers Pvt. Ltd to acquire 2.95 crore equity shares of the latter.

Behind this, the members of the company, have approved to increase its authorized share capital to Rs 93.56 crore by creation of new five lakh redeemable cumulative preference share of Rs 100 each.

During company's extraordinary general meeting, the board has passed the Ordinary Resolution by way of postal ballot under Section

TATA Motors have almost decided to leave Singur. But the controversy does not seemed to end. The cadre of both CPI and Trinamool Congress are mobilizing their supporters near the controversial project site at Singur. 

The probability of clash between two cadres can not be ruled out. The CPM activists held a huge rally near Chandanpur, which is a strong base of Trinamool Congress. 

Honda Seil Cars India (HSCI) launched a new third generation Honda city car in the market on Thursday. The company is expecting good business as festival season is approaching. The price of new Honda city is fixed between Rs. 7.70 lakh to Rs. 8.90 lakh. The president and CMO of Honda, M. Takedagawa said that company’s ‘Honda City’ brand is one of the most popular brands of the country and India is a largest market for Honda city. The company has already launched the new model of Honda City in Thailand before launching it in the Indian market.