Leading soft drink manufacturer, PepsiCo launched its non-carbonated packaged nimbu paani 'Nimbooz', under its brand 7Up in India on Monday and announced to add more products in its cart within couple of months. 'Nimbooz' will be available in 200 ml bottle and 350 ml bottle for Rs 10 and Rs 15 respectively.

The ongoing global slowdown has started to erode salaries of top executives of India's top IT services provider, Infosys Technologies. The company has decided to pay minimum discretionary pay to staff in a bid to control costs and mitigate the impact of global slowdown on Friday.

The chief executive of IT firm, Kris Gopalakrishnan, said, "This is going to be a prolonged downturn. Slow performance, the increment to its employees will be minimal this time around. "

Showing recovery for the two successive months, Maruti Suzuki has reported a 24.08% growth in its total sales during the last month (February 2009).

India’s biggest car manufacturer sold 79,190 units during Feb 2009, as against 63,822 units in the corresponding period of the last year (Feb 2008).

After September 2008, the company’s saw drastic fall in its sales for the next three months by 7.1%, 27.4% and 10% respectively.

But, the company's sales grew 5.39% in January 2009.

ITT Corporation, a Fortune 500 company, has established its base in India by inaugurating its facility at Savli near Vadodara on Friday. It has been set up with an investment of Rs40 crore and in the second phase, the company plans to expand the facility with a further investment of Rs60 crore.

"India, China and the rest of Asia are key markets for our future growth plans," said president of ITT's China and India operations, Mike Kuchenbrod, adding that having a local presence and dedicated engineering staff here in India gives us an excellent platform to serve our local customers in a best way possible and grow along with the Indian economy.

Warren Buffett showers praise on Ajit Jain, his likely successor

Legendary investor Warren Buffett has blamed himself for making certain "dumb" investment decisions last year, which cost his company Berkshire Hathaway billions of dollars.

In his annual letter to shareholders, which is considered a gospel on investing by millions, Buffett once again lavished praise on Ajit Jain, head of his reinsurance business empire.

Buffett has been praising Jain for the last couple of years in his annual letters, spurring speculation that he must be the first among equals to succeed him.

Warning that the downturn could continue for long, Buffett said the economy would be in a shambles this year.

Japanese Automobile major, Toyota Kirloskar Motor (TKM) expanded its range of alternate fuel vehicles by including the Innova CNG in its fold in India.

From now onwards the country’s most popular multipurpose vehicle, Innova will be available in CNG variant as well.