A new engine plant will soon start with its process of construction in Talegaon, in the western state of Maharashtra, as General Motors today signed an agreement regarding building it. The agreement was signed in presence of the Honorable Chief Minister of Maharashtra, Mr. Vilasrao Deshmukh and host of other dignitaries, between GM India President and Managing Director Mr. Karl Slym and Mr. A.M. Khan, Principal Secretary (Industries).

Beijing - US-based soft-drinks giant Coca-Cola Co said Wednesday that it had offered 2.4 billion dollars to buy China's Huiyuan Juice Group Ltd.

Coca-Cola said in a statement that it offered 12.20 Hong Kong dollars (1.56 US dollars) per share for Hong Kong-listed Huiyuan, or triple Huiyuan's last closing price of 4.14 Hong Kong dollars.

The takeover is subject to approval by Chinese regulators.

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) has plunged to its lowest level since early April, according to OPEC data released on Wednesday.

One barrel (159 litres) of OPEC-produced crude stood at 103.40 dollars Tuesday, 6.62 dollars less than 110.02 dollars on the previous day.

Markets were affected by the fact that Hurricane Gustav had mostly spared oil facilities, as well as by the stronger US dollar against the euro, Vienna-based energy analysts JBC said.

India’s top utility vehicle manufacturer Mahindra & Mahindra is aiming for double-digit sales growth in the existing fiscal 2008-09.

Mr. Pawan Goenka, president of the firm's automotive sector, said, “We certainly expect a growth, not a de-growth. We are trying for double digits.”

Mahindra & Mahindra (M&M), a part of the USD 6.7 billion Mahindra Group, is said to be in talks with Swaraj Mazda (SML) to sell its 14.04% stake to Japan’s Sumitomo Corporation.

Aston Martin, the well known UK classic sports car maker, is planning to unveil second brand with an exclusive design, and has named it ‘Lagonda’ to attract more and more customers in the emerging and competitive market.

On Monday, Ulrich Bez, Chief Executive, informed in a statement, “We remain limited in our market penetration by the pure character of our cars.” He also said that after 16 months in private ownership, it was time for Aston Martin to think about a longer-term future.