Phoenix Mills, engaged in the business of developing real estate has announced that MPC Synergy, a German based company will be investing around EUR 200 million at the SPV level of the Phoenix Mills Group as well as the EWDPL Group.

Phoenix Mills holds around 42 percent equity stake in Entertainment World Developers, India, which is involved in the building as well as operation of mixed-use retail centers and townships.

Industry associations and businessmen, who presently are quite concerned with the current political situation in West Bengal, feel that the process of industrialization would be affected in the state if there is any negative development with regard to the upcoming Tata Motors’ Nano plant in Singur. The state government and the opposition party leaders have been requested by the chambers to hold a meeting and come out with a perfect solution for smooth implementation of Tata’s project.

The starting of 2009 will see all of DreamWorks Animation SKG Inc’s films in next generation 3-D.

The chief executive of DreamWorks Animation, Jeffery Katzenberg, informed in an interview, “This is the next innovation for the movie industry. It impacts how we make our movies, how movie theaters present our films and how audiences experience our films.”

On Wednesday, at Intel’s Developer Forum in San Francisco, a 3-D movie image brand named InTru 3D was announced by Katzenberg's DreamWorks Animation and No. 1 chipmaker Intel Corp.

TATA is planning to become complete food and Beverage Company. The company chairman Ratan Tata said in the annual meeting that company would expand its business through acquisitions and mergers in the near future. It would strengthen its position in the global market.

Tata Tea Vice-Chairman R K Krishna Kumar said that the company is interested in the markets of the United States and Russia and it is exploring possibilities of merger and acquisitions in these countries. The company’s tea brand is already available in many countries under 45 brands. TATA tea has already turned in to a global beverage company. The total turnover from tata tea was recorded Rs 4,432 crore. The company is happy from the turnover from its coffee and tea business.

Bajaj Allianz general insurance has launched a new insurance policy on Friday. The new policy is branded as 'Insta Insure'. Bajaj Allianz is a joint venture between the Bajaj Group and German insurer Allianz SE. The new products will cover health segment firstly. It will be expanded under other segment on the later stages.

The new policy will work like a SIM card. The price is fixed different for different for different categories. A special code number would be provided for each new product. The policy will be activated y calling or sending SMS with the code number.

The London-listed oil company, Imperial Energy, which operates in Russia, is progressing in its talks with India’s Oil and Natural Gas Company. It is being thought that soon it will agree for the takeover deal valuing Imperial at about $2.8bn.

The sources have revealed that negotiation between the state owned ONGC and Imperial are ongoing with succession and soon a bid could be announced before Imperial’s next results. The bid has been submitted by ONGC to buy Imperial, the sale of which most probably will be announced next week.