Kamath in MF alert

New Delhi, Nov. 2: Warning that mutual funds and non-banking financial institutions could crumble under high interest costs, Confederation of Indian Industry president K. V. Kamath has asked the government to save the crucial financial sector. “I think there is an urgent need to look at how these institutions are funded and address this critical point. We also need to see how we provide them soft lending,” Kamath said.

Hyundai worry

New Delhi, Nov. 2: Hyundai Motor India has put up to 25 per cent of its export orders on hold as a result of the economic slowdown. The company, which planned to enter the US market with its hatchback i10, has also shelved it because of homologation issues, even as it explores new markets such as Australia and New Zealand.

Drug price

Mumbai, Nov. 2: Prices of bulk drugs have increased 25-30 per cent over the past few months as the declining rupee has hit business margins of the pharmaceutical industry, a top industry official said.

Chrysler sale

Washington, Nov. 2: Chrysler is no longer in talks with Renault- Nissan, leaving General Motors the apparent lead candidate to acquire the US auto maker, the Wall Street Journal said.

LIC cards

Mumbai, Nov. 2: The Life Insurance Corporation of India (LIC), which manages funds worth Rs 6,00,000 crore, will soon launch credit cards and introduce electronic data management system that would enable the corporation to switch over to paperless policies.