Encouraged by significant increase in net profit for Q3, the Andhra Bank is now eying of business growth of 23 per cent in the eastern region for the current financial year. The bank did total business worth Rs 95,770 crore till December 2008 and now sets a target to increase its business to Rs 100 thousand crore by the end of this financial year.

Ramakrishnan K S, Zonal manager, Andhra Bank said that bank expects business worth Rs 150000 crore by September 2010. The bank has initiated various measures to increase current account and saving accounts (CASA) deposits.

RPG Enterprises owned CEAT tyres laid the foundation stone of a radial tyre plant worth Rs 700 crore at Halol, near Baroda in Gujarat. The company has signed a Memorandum of Understanding in this regard at the Vibrant Gujarat Global Investors Summit (VGGIS) in Ahmedabad on January 13.

The chairman of RPG Enterprises Group, Harsha Goenka said that the first phase of plant would be operational by May 2010. The state of Gujarat is also celebrating its foundation day on the same day.

In a bid to cut costs and ensure adequate growth rate, internet giant, Yahoo Inc. has decided to freeze salary hikes of its employees for the financial year 2009.

The company, visibly upset over low revenue and falling profit, would also employ some other cost cutting measures to keep costs in line with revenues and to mitigate the impact of global slowdown on its business.

The Congress party denied any impact on alliance between Congress and Samajwadi Party in Uttar Pradesh following the joining of SP by former Bharatiya Janata Party
(BJP) leader and two time state chief minister, Kalyan Singh. However, some Congress leaders expressed reservation on Kalyan Singh factor due to his involvement in demolition of Babri Masjid in Ayodhya in 1992.

The Congress in-charge of Uttar Pradesh affairs and party's general secretary Digvijay Singh said, "If Mr. Kalyan Singh now feels sorry for the Babri demolition and repents, and if this alignment leads to weakening the BJP, we won't have concerns."

Tata Group owned and Europe's second largest steel manufacturer, Corus may start retrenchment drive in the days to come, clearly, to cut costs and ensure adequate growth amid recessionary waves prevailing across the world.

The workers, whose future is hanging in dark, following the reports of large scale lay offs by company, are seeking appointment with authority concerned to resolve all matters related to wages and production cut.