Bharti Retail, the retail venture between Bharti Group and Wal-Mart, the world's largest retailer, has entered into strategic partnership with IBM India. This collaboration is a progression of an existing four-year relationship between the Bharti Group and IBM.

Under the ten-year deal, IBM will provide best technology and services that will enable Bharti Retail to scale up operations in the long term.

The latest alliance is in line with Bharti Retail's efforts to be a customer-centric and trusted retailer.

Bucharest  - Ford Motor Co's Romanian plant saw profits drop by more than 26 per cent in the first half of 2008 on weaker sales, news reports said Tuesday.

Net income at the Craiova plant, which is being upgraded to start vehicle production next year, fell to 1.08 million lei (454,000 dollars), the Mediafax news agency said. Sales fell by 4 per cent, the report said.

Ford last year agreed to pay Romania's government 57 million euros (79 million dollars) for a 72-per-cent stake in the plant, which was originally taken over by South Korean automaker Daewoo in the 1990s.

The move confirmed Romania as a rising auto industry hub after Renault's Dacia unit racked up strong sales with budget-priced cars.

According to the most recent network congestion report published by TRAI for the April-June quarter, India’s largest telecom services provider Bharti Airtel topped the list of most congested network followed by close competitor RCom.

Bharti Airtel was on top with 56 Point of Interconnection (PoIs) having congestion. It was followed by Reliance Communications (22 PoIs), Dishnet Wireless (21 PoIs as of March), Vodafone (19 PoIs of March) and Idea (19 PoIs).

Nitin Fire Protection Industries, a leading player in the fire security and protection systems, has informed that its 100% subsidiary Nitin Cylinders, has finally received Bureau of Indian Standard approval for Industrial and CNG Cylinders.

With the latest approval, the company can now sell its cylinders in domestic Indian market where the demand for CNG Cylinders is registering rapid growth.

The Punjab government is planning to woo TATA project for the state. It has decided to invite TATA group chairman to consider Punjab for the proposed TATA car project.

It is pertinent to note that TATA is facing many problems in West Bangal. It is planning to shift the Nano car project to the alternate place in the country. TATA is also facing political problems from Chief Mamata Banergee and regional parties.

Punjab Industry Minister Manoranjan Kalia said that the state has written a letter to TATA to invite it for small car project in the state. The state has assured all sorts of help for successful completion of this project. The government has invited a special delegation from TATA group to further discuss the project.

It is in news that Oil and Natural Gas Corp Ltd (ONGC), is planning to buy Imperial Energy Corp, a Russia based firm. This fact was even more strengthened when a source from the Indian government confirmed it.  

The official who didn’t want his identity to be revealed reported, “We are waiting for it. We have submitted the bid. Our bid is very competitive ... it will take 2-3 days, maybe next week you will hear something.”

Though the source did not reveal the amount of the bid, yet it was reported in one of the business newspapers, that ONGC has submitted an initial bid of 12.90 pounds per share, which comes around $2.96 bn.