Finally the time has come to drive Tata Motors much awaited and the world's cheapest family car ‘Nano’.

Today, the company announced that it will roll out ‘Nano’ on March 23 in the Mumbai market.

The launch would happen at a function to be held in Mumbai.

The company also said that the bookings for the car will start from April 2009.

In a major declaration, the company said, “The cars will be on display at Tata Motors dealerships from the first week of April 2009. Bookings will commence from the second week of April 2009.”

Significant increase in acreage and good rainfall led to higher production

Gujarat is set to increase it share in castor production in the country. With a significant increase in area under cultivation, state's share is expected to be around 75% during 2008-09 against 71.5% in the previous year.

As per castor crop survey-2008-09, conducted by Solvent Extractors Association (SEA), Banaskantha district is the largest producer of the commodity and total output in the district this year is estimated to be around 2.05 lakh tonnes.

NRI entrepreneur's holding firm is on an expansion drive

While the economic downturn may have brought liquidity problems for most of corporate India, NRI entrepreneur C Sivasankaran does not seem to be short of cash.

Indeed, going by the latest action by Siva Ventures, his holding company, is on the verge of a major expansion into the relatively undervalued corporate economy. Sivasankaran is known for buying companies on the cheap and selling them off for much higher valuations after a few years.

Unitech, the country's second largest realtor by market capitalisation, has finally sold its 200-key Gurgaon Marriott Courtyard hotel property to Roop Madan, a high net worth individual (HNI) based in Delhi.

Roop Madan is the managing director of Sanya Motors, the official dealer of Tata Motors in New Delhi with three car showrooms. Sources said that Madan also owns a small realty venture, Sanya Hospitality, and is one of the investors in the Logix group.

New York - Telephone equipment giant Nortel Networks Corp on Wednesday announced plans to cut 3,200 jobs worldwide as it struggles to emerge from bankruptcy protection.

The 114-year-old Canadian company filed for bankruptcy protection in January, and received an extension of that until May 1.

Nortel said the job cuts would take place over several months and are in addition to 1,800 workforce reductions already announced. The company also won't pay any bonuses under its incentive plan for last year.

Stockholm  - Troubled Swedish car maker Saab was hit by another blow Wednesday as the Swedish Customs agency halted the flow of imported parts for its assembly over unpaid customs duties, Swedish radio news reported.

Last week Saab filed for bankruptcy protection and launched a reorganization process after its US owner General Motors said it planned to shed the loss-making brand.

Saab cannot import parts for its cars or export assembled cars from Sweden until it can show it can pay the customs duties, the report said.