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Aabhas Sharma / New Delhi December 5, 2009, 0:47 IST

Oracle Financial Services Q3 net dips 14% to Rs 227 cr
IT solutions provider Oracle Financial Services Software today reported a 13.68 per cent decline in consolidated net profit at Rs 227 crore for the quarter ended December 31, 2009.

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ONGC inks pact for sourcing LNG from Iran
ONGC and ONGC Videsh (OVL), the overseas investment arm of ONGC, in association with the Hinduja Group and Petronet LNG, have entered into two broad enabling agreements with Iranian authorities for participation in development of gas fields and liquefaction facilities in Iran, in return for assured minimum six million tonnes a year of LNG on long-term basis. ONGC made an announcement on the Bombay Stock Exchange (BSE) today.
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Fiat takes Tatas' help to develop small car for India

Italian auto maker Fiat today said it is taking help from its partner the Tatas in developing the small car, which it plans to launch in India by 2012. - 10,000 units of Linea sold since January: Fiat India "Tatas are our front-end partners in distribution. So we are taking a lot of help from them in taking customer feedback and understanding their needs so that they can be incorporated into the small car," Fiat India Automobiles President and CEO Rajeev Kapoor told PTI. The technical development of the car, however, is being done by Fiat in Italy, he added. In 2006, Fiat and Tata Motors have formed a 50:50 joint venture — Fiat India Automobiles — under which the the Italian firm sells its products through the distribution Network of its Indian partner, while sharing its manufacturing facility at Ranjangaon in Maharashtra. The foreign auto major had yesterday announced that it was developing a small car at its home ground to cater to the Indian market. "The small car is expected to be launched in India by 2012 and it will be manufactured at our Ranjangaon plant," he said. Kapoor said the car could be similar or smaller than its existing hatchback Palio. Asked if the car will be sold only in India, he said it is too early to say but exporting to other similar markets like India cannot be ruled out.


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