South Korean major Samsung Engineering in consortium with Linde (Germany) has pocketed $1.5 billion contract from ONGC Petro addition (OPaL) for the construction of a dual feed ethylene cracker unit and associated unit plant.

Speaking on this, Samsung Engineering spokesperson Charlotte J Lee said, “The engineering, procurement, construction & commissioning contract is for a dual feed ethylene cracker unit and associated units plant of OPaL.”

Fortis Healthcare has announced that it will raise Rs 1,000 crore through rights issue for funding its debt repayment and business expansion.

The company said that the proceeds of the right issue would be used primarily for funding projects including the upcoming Medi-City project in Gurgaon, redemption of preference shares, repayment of short-term debt, upgradation of existing facilities and tapping future investment opportunities.

Country’s largest car maker company, Maruti Suzuki India Ltd, has said that it expects to commence the shipping of its A-star small car to Nissan from February-March for sale in Europe.

However, Maruti Suzuki India Managing Director, Shinzo Nakanishi said that the company was yet to agree on the exact number of cars it would supply to Nissan.

Nakanishi also indicated that if the market condition does not improve then the company may consider production cut.

The World Bank has decided to ban, India's top computer software services provider Satyam Computer, for eight years, starting from September this year. The company has been charged with the data theft and paying bribes to its staff for its vested interests. The bank has decided to snap all business ties with the computer giant, following a flood of complaints.

On Monday, Kingfisher Airlines said that there is no case for decreasing its air fares in the immediate term.

Kingfisher Airlines spokesperson informed, “Once the Government brought aviation turbine fuel (ATF) under the Declared Goods category, it would immediately and significantly reduces fares.”

He further said, “The sharp and immediate spike in ATF prices earlier in the year has left a lasting impact on the bottom lines of the companies, leading to an accumulation of huge outstandings and liabilities with the oil companies and the likes.”

A new font has been developed by a Dutch company, which had been long looking for ways to reduce the environmental costs of printing.

According to the company, the new font cuts ink usage by about 15 percent. Basically the new font, dubbed as "Ecofont" has little holes in the letters.

The font was designed by Spranq, the Utrecht-based marketing and communication company, which struck on a Swiss-cheese design after failures with the earlier experiments using thin letters and partial letters - like the stripes of a zebra.

Company co-founder Gerjon Zomer said, "It turns out that it's necessary to preserve the size and outline of the letters to keep them readable."