Sept. 7 - Japanese automaker, Suzuki Motors, has announced plans to invest US$215 million for a new car factory in India by 2011 with a yearly capacity of 250,000 cars.
Suzuki wants to maintain its 50 percent market share in the face of rising competition from other automakers reports Reuters. The new Suzuki plant will be based on the current Manesar facility in the Haryana state located 50 kilometers from New Delhi.
Aug. 6 - Employees of India’s private, overseas and state banks numbering more than 900,000 will begin their two-day strike today.
An estimated 26 state-run banks, 10 private banks and eight foreign banks will be affected when its workers join the strike organized by the United Forum of Bank Unions (UFBU). “We seek expedition of wage revisions,” C H Venkatachalam, convener of the UFBU,was quoted by Bloomberg. “There is no question of calling off the strike now.”
The banking workers are demanding at least a 17.5 percent salary hike, pension benefits and that family members of those who die in service be employed.
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