Toyota recalls Innovas

New Delhi, Jan. 20: Japanese auto major Toyota is recalling about 20,000 units of its multi-utility vehicle, the Innova, in India to repair a defective part that can lead to oil leakage. “The problem we have found is in the differential carrier mounting nuts, which becomes loose, and on long usage can lead to oil leakage. It has been detected in about 20,000 Innovas,” Toyota Kirloskar Motor deputy managing director K.K. Swamy said. He said the Innovas manufactured between April and October 2007 have been recalled to repair the faulty parts.

Essar SEZ

New Delhi, Jan. 20: An empowered group of ministers (egoM) will consider next month whether Essar Steel’s SEZ project at Hazira has violated a norm which stipulates that such zones shall be set up on vacant lands, an issue that has created inter-ministerial differences. The egoM, headed by external affairs minister Pranab Mukherjee, is likely to meet on February 4.

Bid for Rio

Melbourne, Jan. 20: Rio Tinto chief executive Tom Albanese has left the door open for a sweetened takeover offer from BHP Billiton, but said Rio would be happy to grow on its own if BHP walked away. BHP, must make a formal offer by February 6 or leave Rio alone for at least six months under a deadline imposed by the UK takeover panel.

Bharti deal

New Delhi, Jan. 20: Telecom service provider Bharti Airtel has signed a $150-million six-year agreement with IBM for implementation of IT systems to launch differentiated services in broadband, media, iptv and dth segments.

Parsvnath aim

New Delhi, Jan. 20: Parsvnath Developers has announced an investment of Rs 60,000 crore in the next five years in diversified areas such as sezs, airports, expressways and retail business.

Luxury brands

New Delhi, Jan. 20: High-end French and Italian luxury brands such as Alberta Ferretti and Jean Paul Gaultier will enter the the Indian market by March this year, with their latest collection of designer apparel and accessories.

Cell numbers

Calcutta, Jan. 20: The Telecom Regulatory Authority of India (Trai) will prepare a consultation paper on number portability in February this year, chairman Nripendra Mishra said today.