TATA Group has approached Citigroup for assistance in getting funds for Jaguar and Land Rover acquisition from the British government. The company has requested British Government for about one billion pound funds to bail out JLR and secure the future of its employees.

TATA reported significant decline in Land Rover sales following low demand due to international financial crisis. The American bank Citigroup was also the advisor in the $2.3 billion JLR acquisition case.

Two-wheeler giant Bajaj Auto is planning to launch six bigger engine bikes in the financial year 2009. The move is aimed to maintain adequate market share which is shrinking due to low demand following global financial crisis.

The new bikes are being designed to compete rival Hero Honda's best-selling Splendor/Passion range. Two more products in 125-135 cc engine size may also be launched in April and July this year. The new bikes would be launched from its Pantnagar facility from February.

Industrial production posted 2.4 per cent growth in November 2008. Industrial output recorded negative growth in previous months, first time in 15 years.

Industrial Output growth rate was 4.9 per cent in the same month last year. It reported increase of 3.9 per cent for first eight months of current financial year as compared to 9.2 per cent in the same period of FY 2007-08.

Improvement in growth rate has been registered due to signs of recovery in industrial activity in second half of November and lower base effect in corresponding month last year helped to improve industrial output.

The world's top auto company, Toyota is in touch with South Korean company POSCO to get steel for its operations. Toyota Motor Corp. is suffering losses due to low sales and has been employing various cost cutting methods to mitigate the impact of global slowdown. Entire automobile sector is facing the heat of global slowdown with significant decline in sales.

POSCO is the fourth largest supplier of steel in the world. It is already supplying steel to leading Japanese auto giants. The spokesperson of POSCO, Ko Min-jin said, "We are in talks with Toyota on a similar deal."

The Union Ministry of Communications & Information Technology has provided 4.4 MHz of Spectrum in 1800 MHz GSM band to Unitech Ltd for the West Bengal telecom circle. The company has announced that it would soon start telecom services in the West Bengal Service Area.

The company has already been allotted spectrum in 21 service areas. The telecom arm of real estate major Unitech Ltd, Unitech Wireless is also planning to launch 3G services in near future. State run MTNL has already launched 3G services in national Capital Region.

Shreyas Shipping & Logistics Ltd has sold its vessel `M V OEL Aishwarya` for USD 972,637.20. The company is facing the heat of global financial crisis and posted record losses in the September quarter of this financial year.

The funds from recent sell out would help to overcome liquidity problem being faced by company following global financial crisis.

The company posted loss of Rs 19.46 million in the reporting quarter while recorded profit of Rs 60.31 million in the same quarter last year. Its net sales registered an increase of 30.55% to Rs 539.58 million.