The state government of west Bengal has decided to allocate 750 acres of land in Raghunathpur, Purulia to Jai Balaji Group of the city. Jai Balaji Group would use the land for integrated steel, power and cement projects worth Rs 16,000-crore. It would start the first phase of project within a few weeks. The company has also decided to offer jobs to one member of each family whose land has been acquired to set up the projects.

Rolta Ltd has decided to acquire a template-based solution company, Piocon Technologies of Chicago. Piocon Technologies provide various operational solutions to the oil and gas refineries.  

Piocon Technologies design the tools to deliver the operational excellence, reliable matrices and efficient solutions for data base management. The solutions are capable of handling equipment and operations from various sources of large refineries. It would help to achieve downtime reduction, inventory rationalization, optimization of crude selection and improved refinery planning.

ONGC is likely to secure the minimum threshold of shareholder acceptances to acquire the UK-listed Imperial Energy. Final decision by the shareholders would be taken on Tuesday. ONGC can acquire Imperial Energy only after getting nod form 90% shareholders of Imperial Energy. Imperial maintains huge gas and oil reserves in the Russian field and Indian government recently allowed ONGC to go for the acquisition for energy security of the country.

In a significant move, Research In Motion (RIM), last week, has filed a lawsuit claiming Motorola improperly blocked the Blackberry maker from hiring employees Motorola has already fired or plans to terminate.

Earlier in February this year, both RIM and Motorola decided not to plead for each other's employees.

Hyundai Motors India Limited (HMIL) has announced the introduction of Hyundai i20 in the Indian market.

Priced between Rs 4.8 lakh to Rs 5.82 lakh, the newly launched ‘Uber cool i20’ is an improved version of ‘'i10’ with large interior cabin and stylish exterior.

This fantastic five door car is available in three variants including the Magna, Sportz and the Asta.

It will come as a relief to those, who have to travel regularly by air and were frustrated by paying high fares time and time again, since it was announced by Kingfisher Airlines chairman Vijay Mallya that his airlines would cut fares by 1st January. Though he did not quantify the cut, sources confirm that it would be between 10% and 15%. So overall, the fares could further drop between Rs 500 and Rs 1,000. There had been reduction of fuel surcharge by Rs 400 during the last month.