Industrial and automotive battery maker Exide Industries Ltd. plans to spend Rs 300 crore on expansion of its production capacity, besides entering new overseas markets.

The company will invest Rs 300 crore this year, out of which Rs 150 crore would be invested in two of its plants in West Bengal, while the rest would be injected in Maharashtra and Tamil Nadu.

The company will fund the entire investment through internal accruals.

Vienna  - The Vienna Insurance Group reported a profit increase of 29.3 per cent for the first half of 2008 on Thursday, boosted by strong growth in Central and Eastern European countries, where the group is market leader.

Net profits after minorities rose to 207.74 million euros (306.38 million dollars), compared with 160.63 million euros in the first six months of last year.

Second-quarter net profits were up 37.4 per cent, to 116.33 million euros, the company said.

In the first half of this year, revenue in terms of premiums written rose 20.7 per cent to 4.22 billion euros.

Berlin - The European economy shrank during the second quarter, data to be released Thursday is forecast to show, dragged down by a slumping German economy and fuelling worries about a sharp slowdown in the region during the run-up to the end of the year.

While analysts expect the 15-member eurozone to have contracted by 0.2 per cent during the three months to the end of June, Germany is forecast to report that its economy shrank by 0.8 per cent after the currency bloc's biggest economy grew at its fastest pace in 12 years during the first quarter.

Every August, as the European Union's bureaucrats go on holiday, the union itself closes down for a month, leaving the residents of Europe's European cities wondering where all the diplomats have gone.

To mark the August break, the dpa English Service will as of Tuesday run a twice-weekly series of stories entitled "Curious Europe," looking at the inventions, arguments and oddities which make Europe an institution like no other.

What is the connection between Colombian coffee and Scottish lamb? Why does Germany come before Belgium in the alphabet? And why does Europe have at least six hearts?

They may not be the kind of questions which often make the headlines, but they lie at the very heart of the European Union.

Strasbourg, France - All sides in the conflict raging in Georgia should cease firing and open peace talks before it is too late, the head of the Council of Europe urged Friday.

"The human toll of the escalation of the conflict in Georgia continues to rise and the country is now on the edge of a full-scale war which would have devastating consequences for the people in the region," council Secretary General Terry Davis said in a statement.

"The first priority is an immediate and unconditional ceasefire. This should be followed by direct talks in order to find a peaceful and permanent solution," he said.

Brussels - The European Union on Friday brought into force the latest round of UN sanctions on Iran in the dispute over its nuclear programme.

An announcement published in the EU's official journal ordered the bloc's 27 member states not to enter into new commitments for grants, financial assistance and concessional loans to the Iranian government, but to continuously monitor the dealings of their own banks with Iranian institutions, especially Bank Saderat.

It also mandated member states to inspect cargoes carried by Iran Air Cargo and the Islamic Republic of Iran Shipping Line, as long as there are "reasonable grounds" for suspecting that they are carrying nuclear-related cargoes.