U.S. 3Q GDP increases 3.5%, most in two years

U.S. 3Q consumer spending up 3.4% annualized

U.S. 3Q final domestic sales up 3% annualized

Jobless claims above expectation of 524,000

Mahindra launches compact truck `Gio`

Auto maker Mahindra & Mahindra launched a compact truck - Gio - meant for intra-city operations.

The utility vehicle, priced at Rs 1,650 billion, is aimed particularly at rural and semi-urban consumers

Avoid Astec Lifesciences IPO

The initial public offering (IPO) of Astec Lifesciences has opened for subscription. The price band of the issue has been fixed at Rs 77-82 for each equity share, aggregating Rs 577.50-615 millio

Inflation rises to 1.51% vs 0.21%

Inflation continued to rise at 1.51% for the week ended Oct. 17, 2009 as against 1.21% in the week ago.

Reserve Bank of India (RBI) in its monetary policy second quarter review had increased the inflation target to 6.5% from 5%.

Aurobindo Pharma receives 2 new registration from MCC, South Africa

Aurobindo Pharma announced that Medicines Control Council (MCC) South Africa has granted approval to manufacture and market 2 more products in South Africa, namely, `Auro-Amplicillin` 500 mg and 100 mg in an injection form with an active ingredient `Ampicillin Sodium` in the anti-infective category and `Auropidone` 0.5 mg in a tablet form with an active ingredient `Risperidone` in the CNS category.

Aurobindo now has a total of 37 products approved by MCC.

PNB to buy 63.6% stake in Kazakhstan`s Dana Bank

Punjab National Bank (PNB) today announced that its board of directors has approved taking of 63.64% stake in Dana Bank, Kazakhstan subject to regulatory approvals.

PNB provides various banking products and services in India and internationally.

NTPC-BHEL`s Rs 60 bn plant to come up in AP

The power equipment manufacturing plant of the NTPC-BHEL joint venture, NBPPL, will be set up at Mannavaram in Andhra Pradesh (AP) and entail an investment of Rs 60 billion, reports Business Standard.

The plant, which is slated to be fully operational by 2014, will have an annual capacity to manufacture up to 5,000 Mega Watt of equipment.

It is billed as the country`s first integrated plant making turbines, generators and boilers at one place.

The Andhra Pradesh government had allotted 750 acres last month for the project.