Gujarat government has announced a new solar power policy for state to promote solar power generation as an alternative source of energy. The government would extend financial help to set up solar power units in the state and offer solar power generators (SPGs) at subsidized prices.

The indefinite strike called by transports has entered the third day. The Union Government has asked all states to ensure supply of essential goods across the country. The states are advised to use the Essential Services Maintenance Act (ESMA) and the National Security Act (NSA) to get transporters back on work. ESMA allows government to arrest the truckers who are disrupting the flow of essential services. The center has also asked states to cancel permits of trucks to deal with situation.

After a long wait, Mahindra and Mahindra along with BAE Systems has finally secured the approval from the Government of India's Foreign Investment Promotions Board, for the setup of Joint Venture (JV) in India, focused on land systems for the Indian market.

This is a key step in setting up the JV, and in accordance with current Foreign Direct Investment regulations, the equity split will be 74% with Mahindra & Mahindra and 26% BAE Systems.

Oriental Bank of Commerce (OBC), one of the leading PSU banks in India, has signed a memorandum of understanding (MOU) with India's leading car manufacturer Maruti Suzuki India Ltd. to publicize the loan scheme offered by Oriental Bank of Commerce.

As per MOU, the exclusive car dealers of Maruti Suzuki will publicize the loan scheme among the prospective car buyers and link them to the Bank for credit support for hassle-free process.

Maytas Infra Limited, one of

TATA group owned TATA Steel reported 14 per cent decline in sales in the third quarter of current financial year as compared to sales during same period last year. It indicates the impact of global slowdown on the steel sector. Almost all economic segments are facing the heat of global financial crisis and gearing up for strict measures to deal with the situation.