The timing could not have been more worse for the Audi R8, for the luxurious sports car hits the Indian market at a time when the country’s automobile sector is battling a slowdown in demand and cutting down output.
http://ibnlive.in.com/news/auto-majors-feel-the-credit-crunch-shut-down-plants/77660-7.html
The auto industry has been hit by the slump in the economy. Major car manufactures have reported sharp decline in sales for the month of October. CNN-IBN's Varun Kumar finds out why the decline in the month of October is so significant for the auto industry.
http://ibnlive.in.com/news/auto-industry-sees-first-ever-slump-in-festive-season/77428-7.html
The auto industry has been hit by the slump in the economy. Major car manufactures have reported sharp decline in sales for the month of October. CNN-IBN's Varun Kumar finds out why the decline in the month of October is so significant for the auto industry.
http://ibnlive.in.com/news/auto-industry-sees-first-ever-slump-in-festive-season/77428-25.html
Tourism industry has started to feel the effects of the financial crisis. During good times, the Delhi’s Indira Gandhi International Airport would be flooded with foreign tourists. But in these times of economic downturn, the scene is quite the opposite.
http://ibnlive.in.com/news/travel-industry-financial-crisis-next-victim/77352-7.html
The sinking Airline companies have got a lifeline from the government. Customs duty on aviation turbine fuel (ATF) has been done away with. Adding to this is a 6000 rupee per kilolitre drop in jet fuel prices by oil companies. Taken together, it means 16-17 per cent cut in ATF prices.
http://ibnlive.in.com/news/govt-airlifts-aviation-sector-scraps-atf-duty/77185-7.html
The demand for home loans has also gone down significantly due to the financial crisis, high interest rates and customers’ ability to take home loans. So in these strenuous times, customers might have to wait a little longer for that much awaited Diwali interest rate cut from your bank.
http://ibnlive.in.com/news/good-news-has-to-wait-no-interest-rate-cuts-this-diwali/76726-7.html
It was feared and it is happening. The fallout of the financial slowdown is now eating away jobs. The first to take the hit is the aviation industry. Jet airways has said it has to save the company so its shelving its expansion plans and 1100 of its employees will have to go and Kingfisher announces plans to follow suit.
http://ibnlive.in.com/news/financial-meltdown-hits-indian-aviation-industry/75901-7.html
The Reserve Bank of India is in fire fighting mode. The RBI has taken takes further steps to address the liquidity issue by holding a special 14-day repo. The RBI announced a special 14 day repo to enable banks to meet mutual funds liquidity needs.
http://ibnlive.in.com/news/rbis-firefighting-move-lowers-repo-for-mutual-funds/75823-7.html
As the financial crisis grips world economies, the real estate sector is giving away freebies to lure customers. Unitech is offering a free LCD TV on booking of property while one can get free Solitaire worth Rs 1.25 lakh on booking of property from Tulip. Another real estate giant, Jaypee Greens, is giving away a luxury car on purchase of property. So it is raining discounts in the real estate market this festive season. But that is no the only thing luring customers.
http://ibnlive.in.com/news/real-estate-giants-lure-clients-with-free-cars-lcd-tvs/75769-7.html
The Reserve Bank of India’s cut in the cash reserve ratio has released Rs 20,000 crore into the market—happy news for home loan borrowers because it may stop rise in interest rates.
http://ibnlive.in.com/news/rbi-uses-the-axe-home-loan-rates-may-go-down/75251-7.html
The Karnataka government on Thursday offered a 1000 acres of land to Tata motors to set up a plant in Dharwad. Although it may look like a win win situation for both - Tata Motors as well as the Karnataka govt, there are draw-backs which Tatas would have to face if they decide to open the Tata Nano plant in Dharward.
http://ibnlive.in.com/news/karnataka-may-not-be-best-for-nano--red-carpet/73871-3.html
Twenty-two Customs and Exercise officials together with 11 bar girls were arrested by the Pune Police from a bungalow in Khandala. Police later described the scene as a rave party in progress. Cash worth Rs 55 lakh was also seized from the bungalow.
http://ibnlive.in.com/news/watch-porn-party-busted-in-pune-govt-officials-arrested/72308-3.html
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