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Porsche to temporarily halt production because of slump

Porsche to temporarily halt production because of slump Stuttgart - Porsche joined other German carmakers Saturday in announcing a temporary halt to production because of dwindling sales triggered by the global economic crisis.

A spokesman for the sports carmaker in Stuttgart said the company was extending the Christmas holiday period for workers by three days.

He said the company's main plant at Zuffenhausen would remained closed from December 22 until January 9, 2009.

Brazilian foreign minister in Tehran to prepare Iran-Brazil summit

Brazilian foreign minister in Tehran to prepare Iran-Brazil summit Tehran - Brazilian Foreign Minister Celso Amorim arrived in Tehran on Saturday to prepare for the upcoming Iran-Brazil summit, the official news agency IRNA reported.

Amorim conveyed Iranian President Mahmoud Ahmadinejad the written approval of President Luiz Inacio Lula de Silva for attending the summit in Tehran in the near future, without however setting a specific date.

Three dead in helicopter crash in Britain

Three dead in helicopter crash in Britain London - Three people died today when a helicopter crashed in a field in Gloucestershire, the Air Accident Investigation Board said Saturday.

The private Gazelle helicopter came down and burst into flames near Langley Hill Farm in Winchcombe near Cheltenham, some 150 kilometres west of London, at about midday.

Witnesses said there was heavy fog at the time of the crash, but no cause for the crash could be determined as yet.

Adlabs gets board’s nod to demerge radio business into Reliance Unicom

Adlabs gets board’s nod to demerge radio business into Reliance UnicomAdlabs Films, a member of the Reliance Anil Dhirubhai Ambani Group and the leading entertainment conglomerate in the country, has notified that the board of directors of the company has approved a scheme of arrangement envisaging demerger of its radio business into Reliance Unicom Ltd.

ABG Shipyard wins order worth Rs 2377 crore

ABG Shipyard wins order worth Rs 2377 croreABG Shipyard, the largest private yard in India, has secured an order worth Rs 2,377.41 crore (480 million US dollar) from Essar Oilfields Services Ltd, Mauritius for building two rigs.

These Rigs will have the operating capacity of up to 350 ft. Water Depth and a drilling depth capacity of 30,000 ft. In addition, these rigs are designed for year - round Gulf of Mexico and 50-year return period North Sea environment in accordance with American Bureau of Shipping (ABS) assessment criteria.

Midvalley files DRHP with SEBI to enter capital market

SEBIChennai based Midvalley Entertainment, has filed a draft red herring prospectus (DRHP) with SEBI, to enter into the capital market with a public issue of 1.71 crore equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue also comprises a reservation of 3 lakh equity shares for permanent employees, thus bringing the net issue to 1.68 crore equity shares of Rs 10 each. The net issue will constitute 39.30% of the fully diluted post issue paid-up capital of the company.

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