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Fortescue Metals Group Ltd., the third largest iron ore producer in Australia, revealed today that it has put two of its three expansion projects on hold as it decided to review the potential impact of the proposed Super Profits Tax. This step of Fortescue is supposed to put some pressure on the Government to back down over its proposed new mining tax.

Stockland Ltd., a property developer in Australia, said today that it is on track to deliver record residential sales in fiscal 2010. The residential sales in the year to April had remained strong. The company also reaffirmed its full year earnings guidance. Residential Communities margins of the company are expected to increase in the second half of the year.

AWB Ltd., an agribusiness group in Australia, announced today that it has reported a net loss of $A64.8 million in the first six months of the fiscal. AWB said that the first half results were impacted by one time charges for the sale of its financial services business and a class action settlement. AWB said that the net loss was reported at $A64.8 million in the first half ended March 31, while the company had reported net profit at $A8.5 million in the same period last year.

The domestic market leader that sells almost every second car being sold in the country, Maruti Suzuki is pushing its vendors hard to speed up their capex plans in the domestic marketplace with which it will be able to meet the future demands of the Indian consumer.

The small wonder from the auto major Tata motors, Tata Nano apart from being the world's cheapest car has now started to lure even the global critics and experts within a short span of time after its launch in the Indian market. Notably, the product has won the Gold prize under the Best New Product segment within the Transportation category at the prestigious 2010 Edison Awards.

While the testing for the product will begin by the year-end, Land Rover recently said that its first diesel hybrid sports utility vehicle will hit the roads by 2013. Code name 'range_e' the Tata-owned Land Rover said in a statement that the use of hybrid technology will play a significant role in the coming times and the Land Rover Diesel with the hybrid technology will be available by 2012 and will be seen on the roads by the year 2013.