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Jindal's power project faces another roadblock
Jindal India Limited"s 1200 MW thermal power plant proposed to come up at Kaniha near here at an investment of Rs 6,000 crore has faced yet another roadblock.

Economy will clock 6% plus growth rate this fiscal: FM
Finance Minister Pranab Mukherjee today expressed optimism that it would be possible to clock over six per cent growth rate in the current fiscal and said there is no scope for anxiety in pursuing reforms in financial sector and disinvestment.

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Twitter buys location tracking entity Mixer Labs
Famed micro-blogging site Twitter has acquired location tracking firm Mixer Labs for an undisclosed amount.
International Business

BMW launches 3 luxury brands in India

German luxury car maker BMW today launched BMW Gran Turismo, BMW X6M and BMW 760Li and plans to ramp up capacity of its manufacturing plant at Chennai. - BMW to enter auto financing, insurance by mid-2010 - BMW beats Mercedes in luxury stakes - Mercedes India sales decline over 10% - Putting style - Out at sea - BS Motoring Jury Award 2010: Tata Nano "BMW Group will further increase its commitments in India by bringing in more investments in the country through further capital investment in BMW plant in Chennai and BMW Financial Services India," BMW India President Peter Kronschnabl told reporters at the 10th Auto Expo here. Besides, there would be further expansion of the production capacity at Chennai, he said. At present, the BMW 3 Series and BMW 5 series are rolled out from the plant, he said, adding, MMW X1 would be launched towards the end of 2010, which would also be manufactured at the Chennai facility. Talking about the new launches Kronschnabl said, the limited edition BMW Gran Turismo is priced at Rs 63 lakh and only 100 units would be available for sale. The other brands Sports Utility Activity Coupe BMW X6 M and BMW 760 Li is priced over Rs 1 crore a piece. The X6 M would come at Rs 1.30 crore while BMW 760 Li sticker price is Rs 1.29 crore. Asked about maintaining its leadership position, Kronschnabl said: "We sold 3,619 cars last year (2009) and is the number one in the luxury car segment. We have a market share of 40 per cent and we want to keep the same figure." The company is also planning to enhance its dealership network by opening ten more outlets during 2010. At present, the company has 16 dealers spread across the country. On foraying into financial services, Kronschnabl said it will invest $50 million (about Rs 230 crore) for setting up a financial services subsidiary for auto finance and car insurance. "By mid 2010 BMW Group will introduce BMW Financial Services India as a 100 per cent subsidiary, which will be headquartered in Gurgaon," he said.


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