Utah-based, drilling services provider Boart Longyear, which is listed in Australia, has been forced to cut more than 1000 jobs worldwide since the beginning of the year due to lower demand for its services.

The Indian unit of automotive giant, Ford Motors is planning a innovative strategy to reduce the cost of ownership of its vehicle in the Indian Market by using Child Parts.

Child parts are much smaller parts of components of an assembly that would enhance reparability of its models. The company has been able to reduce costs by replacing just the Child Parts in any case of breakdown instead of replacing the entire assembly in the vehicle. Replacing smaller parts allows customers to incur much lesser costs on repairs.

Indian automotive giant, Tata Motors has announced the launch of tis Tata Indica Vista D90 model in the Nepalese market.

The model, which is a very successful model in the Indian market, was launched on May 20, 2013 in Kathmandu by Gurinder Singh, Country Manager for the Nepal and Bhutan Passenger Vehicles Business Unit, Tata Motors.

Indian two wheeler giants, Bajaj Auto has planning a host of new launches in the Indian two wheeler industry during the coming 12 months to take on rivals like Honda Motorcycle and Scooter India.

Bajaj recently lost its number two position in the Indian market to Honda and thus the company is aiming to launch 2 new Pulsar, and 6 new Discover variants during the next 12 months to increase the competition and regain their No 2 position in the country. The company is planning to expand its presence both in the Indian market as well as in foreign markets with the 8 new models planned.

Birla Corporation has recorded an increase of 26.40 per cent in net profits to Rs. 72.63 crore during the fourth quarter of the financial year 2012-2013.

The company had recorded a net profit of Rs. 57.46 crore during the fourth quarter of the financial year 2011-2012. The company said that its sales rose 2.42 per cent to Rs. 665.75 crore during the quarter from January to March, 2013 compared to Rs. 650.02 crore during the fourth quarter of the previous financial year 2011-2012.

Chennai-based, India Cements has said that its net profit has fallen by a disappointing 60 per cent during the fourth quarter of the financial year 2012-2013 mainly due to rising input costs.

Apollo Hospitals Enterprise has said that its net profit has risen 27.30 per cent to Rs. 75.52 crore during the fourth quarter of the financial year till March, 2013.

The company recorded the impressive growth due to strong performance for in the healthcare services and pharmacy segments of the company. The company had recorded a net profit of Rs. 59.32 crore for during the same quarter of the previous financial year, the company said in a statement.

India's Essar Oil Ltd is on the verge of signing a $1 billion financing co-operation deal with China Development Bank Corp (CDBC) and PetroChina International, people with direct knowledge of the matter said.

Sources said that the $1 billion financing agreement could be signed between the two sides on Tuesday during China's Prime Minister Li Keqiang's first official visit to Mumbai.

Coal India Ltd (CIL) on Monday reported an impressive increase of nearly 90 per cent in standalone net profit for the three months ended March 31.

CIL, the world's largest coal producer, announced that its standalone net profit jumped to Rs 2,320.61 crore in the January-March quarter of 2012-13, from Rs 1,223.52 crore in the corresponding quarter of the previous fiscal.

In a bid to revive Karnataka's manufacturing sector, the Bangalore Chamber of Industry & Commerce (BCIC) has submitted a twelve-point action plan to Chief Minister Siddaramaiah.

On Monday, the BCIC released its document titled `Driving Economic Prosperity & Inclusive Growth - Economic Agenda for the government of Karnataka, 2013-18'. It wants the government to implement the 12-point strategy in the state to boost manufacturing.

Some telecom service providers are not using the spectrum allocated to them efficiently, a fresh audit by the Department of Telecommunications (DoT) has found.

Mustardseed yesterday traded with the negative node and settled -0.4% down at 3505 as on supply pressure from the new season crop. As per the market data, the total arrivals of mustard seed have reduced to 2.50-2.60 lakh bags in the last week , down almost 0.50-0.60 lakh bags from the earlier. This was on the account of restricted supplies by farmers at lower levels. The market data suggested that farmers are currently having the stocks of around 41 lakh tonnes , while almost 8 lakh tonnes are lying in the miller's warehouses.

Wheat yesterday traded with the positive node and settled 0.78% up at 1552 due to weak arrivals of wheat in local mandies along with strong demand of private millers at higher levels. As per the latest release from the Food Corporation of India (FCI) , the agency has procured around 24 million tonnes of wheat from all the producing states, down almost 17 % from the corresponding period last year the. This is mainly due to receding supplies in major producing areas. The total daily arrivals of wheat in major states such as Haryana and Punjab have reduced to 8000-10000 bags.

Crude Palm oil settled flat as gains were eventually capped by data showing a drop in exports. The palm oil gains were trimmed after cargo surveyor Intertek Testing Services reported a 9.4 percent decline in Malaysian palm shipments to 799,405 tonnes for the first 20 days of the month from the same period in April. Investors were hoping for palm oil exports to eat further into stocks, which fell below the 2-million tonne psychological mark in April to 1.83 million tonnes.

Ref soyaoil ended with small gains as gains were limited as sluggish demand outweighed gains in overseas markets. Weak soymeal exports are weighing on sentiments. India's soymeal exports in April sank 67 percent from a month earlier to 99,451 tonnes, dropping for a third straight month as farmers held back stocks in a move that tightened supply and boosted prices of the animal feed. As per the latest monsoon report, the date of monsoon onset is 3rd of June which means that it is likely to be delayed by 2 days.

Aluminium yesterday traded with the positive node and settled 0.25% up at 101.4 as US dollar index lost support at 84 overnight following seven straight days of gains, supporting prices to rebound. Total world aluminum production in April fell by 111,000 metric tons from the previous month to total 3.745 million tons, according to figures released Monday by the International Aluminum Institute. Charles Evans, president of the Federal Reserve Bank of Chicago, hinted last night his support for asset buying program, sending the US dollar index down sharply.

Natural gas yesterday traded with the positive node and settled 0.26% up at 226.6 boosted by a warmer-than-normal weather outlook that was expected to increase demand for the fuel. Updated weather forecasting models pointed to a wider swath of above-normal temperatures in the central U. S. in the next two weeks, boosting near-term cooling demand expectations.  Demand for natural gas tends to rise in the summer months as warmer temperatures increase the need for gas-fired electricity to power air conditioning. U. S. supply levels also remained in focus. The U. S.

Jeera June contract dropped Rs 47.5 and settled at Rs 13077.5 per quintal due to estimates of higher output though export demand and a drop in local supplies limited the downside. Export demand is expected to improve in the coming weeks because of a lack of supplies from Syria and Turkey. Exports are yet to pick up strongly though traders are expecting that to happen in coming weeks. Traders are expecting that the total production of Jeera in the current year is expected to be around 34 -35 lakh bags, up 1 lakh bags from the last year.

Turmeric yesterday we have seen that market has moved -0.5% on weak stock position and weak production. However, prices dipped on weak demand amid arrivals from harvested crop. As per market sources, turmeric production in 2012-13 is expected around 50-60% lower compared to last year's historical high of 90 lakh bags. This is mainly due to fragile sowing in major producing states such as Andhra Pradesh and Maharashtra. Low demand prevailed in the mandis as Monsoon report remains critical for the near term trend.

Chana edged up due to improvement in demand in the physical market, although rising supplies from the new crop kept a lid on gains. The wedding season, when demand for chick peas goes up, has started and will last until July.  Chana output is expected to be 8.49 million tonnes in 2012/13 as per the agriculture ministry's third advance estimate as against 7.70 million tonnes a year earlier. Chana arrivals have edged up towards their seasonal highs in Delhi. This has come as a welcome relief after a choppy trend in supplies during last week.