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Business Briefs

May car sales in slow lane

New Delhi, June 11: Car sales in India grew at the slowest pace in seven months during May at 2.78 per cent as high interest rates and petrol prices continued to hit the market. Domestic car sales in May stood at 1,63,229 units against 1,58,809 units in the same month last year. “This is the slowest growth since October last year when car sales witnessed a decline of 23.77 per cent,” Siam director-general Vishnu Mathur said.

Methane hunt

New Delhi, June 11: Coal India has invited expressions of interest from companies for carrying out studies to assess methane reserves of coalfields as part of its effort to increase energy supply.

RINL venture

New Delhi, June 11: Rashtriya Ispat Nigam Ltd is looking to set up a 3-million-tonne steel plant in Saudi Arabia in a joint venture with local major Rajhi Steel at an investment of Rs 20,000 crore.

Microsoft

Calcutta, June 11: Microsoft is keen to develop local content driven applications for its Windows phone and will work with developers to build applications on education and healthcare.

Reebok case

New Delhi, June 11: The government today said it would be up to corporate fraud probe body SFIO to investigate the role played by audit firm KPMG in the alleged Rs 870-crore fraud in Reebok India.


 
 
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