Larsen & Toubro, India’s leading Technology, Engineering & Construction Company along with its Malaysian partner Scomi Engineering Bhd has secured an order worth Rs 2460 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) to implement the country’s first Monorail System in Mumbai. 
 
The consortium bagged the said contract by beating Reliance-Hitachi Consortium’s bid.  

A study conducted by OSI Pharmaceuticals Inc. of Melville and its partners in an anti-lung cancer drug, Tarceva indicates that the medication slows the advance of lung cancer when it is administered after chemotherapy.

On the other hand, another study has found that a combination of Avastin and Tarceva were ineffective in prolonging the life of cancer patients. 

The results of the study by OSI executives will be submitted at an upcoming medical conference. Thereafter they would be submitted to the US FDA for approval of Tarveca.

The U.S. District Court for Southern New York asked Mark Papermaster to stop working with IBM till further orders. Mark Papermaster is a former employee of IBM who recently served as a vice president of IBM's blade development unit. IBM filed a case against him in the US court following apprehension of disclosure of important trade secrets of IBM.

IBM said in the filing that Papermaster possess sensitive company information and secrets regarding business strategy and long-term opportunities. He would surely disclose secrets to Apple which would cause huge losses to IBM. Meanwhile, Apple said that it has hired Papermaster for his general skill as an engineer and his strong management skills.

The ongoing global financial crisis is badly impacting steel companies across the country. They are taking various cost cutting measures to cover their losses. Major steel companies such as JSW, Essar and Ispat Industries have already cut down their production due to steep decline in demand across various sectors.

CFO of JSW Steel, Sheshagiri Rao said that steel industry is dealing with low demand by announcing production cuts. He however said that that the situation would soon become normal.

German luxury car manufacturer, Audi launched a super sports model 'Audi R8' in India. The mid-engine sports car is available at Rs 1.17 crore including central sales tax, transportation and other charges.

The sports car is equipped with an engine displacement of 4,163 cc and a power output of 420 hp. It can attain a maximum speed of 301 km. R8 comes with six-speed R-tronic gearbox and an all-aluminium space frame body. It's highly sophisticated interior and exterior design offers luxurious feel to driver with a number of interior options. The company is committed to make it as the most successful premium brand by 2015.

National Thermal Power Corporation (NTPC) has announced that it is planning to diversify into cement manufacturing and considering a joint venture associate to build four units in different parts of the country.

NTPC produces around 95 million tons of fly ash from its various units annually.

Fly ash is an important raw material for cement business.

According to the sources, NTPC intends to become a 50,000 megawatt capacity conglomerate by fiscal 2012, with an investment of US$ 36 billion.