India's Tata Communications, a leading provider of a communication infrastructure, has revealed its USD 430 million strategic investment plan for Asia Pacific (APAC) region.

The investments include developing the Tata Communications Exchange, a new world-class Internet Data Center (IDC), and the completion of the main segment of its TGN-Intra Asia Cable System.

It may be noted that, these investments are key part of the company's $2 billion expansion plan over three years to enhance its global infrastructure.

Continuing its journey towards making news heights, gold on Thursday made a new record high of Rs 14,900

Wednesday brought gloom to Quebec as its Finance Minister Monique Jerome-Forget warned that the province will be forced to post a deficit in 2009-2010 because of the current global economic crisis.

"The budget has got to reveal the truth," she said in a news conference.

"I have no intention of playing a game here. No intention. I am going to tell the truth and the truth is that we're being affected."

The budget is expected to be listed in March. For the first time in the last decade the province is, in most probability, about to show a deficit.

Last month federal government announced, in its budget, the formation of the Canadian Secured Credit Facility under which Ottawa will purchase up to $12 billion in securities from financial institutions including banks.

The securities would be supported by loans and leases on vehicles and equipment. This would enable the automakers to offer financing to more consumers and dealers.

This news comes as the much needed relief to the automobile industry scorched by recession. But they seem to be getting much too impatient to wait till June.

The ongoing global financial crisis, becoming grimmer day by day, can adversely hit India's foreign direct investment target of USD 35 billion for the FY09. Lowering the earlier estimates, Commerce and Industry Minister Kamal Nath said on Thursday that India can mange to get FDI worth USD 30 billion foreign investment under uncertain conditions of financial world.

Mr. Nath said that government would not change 49 percent cap for foreign direct investment in single-brand retail.

Indian public sector undertaking Bharat Electronics Limited (BEL) and Italian defence company Selex Galileo and Astra Microwave Products, a Hyderabad based company, have signed memorandum of understandings (MoU) for cooperation and sharing their expertise in the fields of electronic warfare and microwave components.