Telenor issued a statement stating, “Telenor Group wants to be clear that the Uninor operations are continuing. Our intention is to fight to protect our lawful investments in the country. We are looking to the Government to arrive at a fair solution. We expect that the intention remains of bringing new competition to India.”

Telenor further added, “The Norwegian Government has announced that they are monitoring the situation and will actively contribute to find solutions to secure Telenor’s investments and presence in India.”

After United Kingdom’s Vodafone, Telenor is the second biggest overseas investor in India’s telecom market.

In a statement, Amazon told that this new site will have over twelve million products and over 14,000 global and Indian brands.

Online shopping is growing rapidly in India and it has over hundred million internet users. According some experts, this nation may turn into one of the world’s top ten e-commerce centers by the year 2015.

Amazon is really excited to give customers in India a single online starting point where they can shop a wide variety of items sold by global as well as local retailers, and make informed buying decisions. The company is focused on improving the customer experience and growing selection every day, making it convenient for buyers to get anything online.

The option on the site includes over 9 million books and around 3 million other products. It offers cameras, mobile phones, baby products, toys and games, clothing, jewellery and Kindle e-book reader. This site is sure to give a tough competition to Flipkart that sells ten products a minute and expecting revenue of $ 1 billion by 2015.

During April-December 2011, railways transported 704.81 million tonnes of freight, as compared to 673.31 million tonnes during the corresponding period, last year, registering a gain of 4.68%.

During December 2011, Railways earned Rs 6102.45 crores from freight traffic, out of which Rs 2548.54 crore came by transporting 41.01 million tonnes coal and Rs 543.64 crores came from 8.94 million tonnes iron ore.

In December, railways earned Rs 403.71 crore by transporting 3.94 million tonnes food grains, Rs 328.89 crore from 3.52 million tonnes petroleum oil and lubricant and Rs 562.73 crore from 9.37 million tonnes of cement.

Reportedly, this car maker company is seriously working on the new models to fulfill the customers’ requirements. The company also has the plan to provide alternate models in regions like Latin America, North Africa and Asia. This replacement will cost around Rs. 500 crore on them.

The report says the economic growth of emerging market will continue to be a vital part of global growth in both long and short term.

The report says China will score for more than 40% of global growth, while United States and India will score for about 15% each. In 2012, the most substantial risk stays to be the financial breakdown in Europe.

BMW stated that last year the sales of BMW, MINI and Rolls-Royce rose 14.2%. Ian Robertson, a board member told in a statement that the company is expecting they will hold the top position in 2012 with balanced sales across all continents. They are expecting a momentum increase in the latter half of the year since their brand new 3 Series will be launched next month worldwide.

Norbert Reithofer, in an interview with The Wall Street Journal, published on Monday, said, “We’re starting 2012 with a very good order book and very young model range … this should provide some momentum.”

Honda openly declares war against their former partner Hero, who is currently holding the top spot in India’s motorcycle market. They are now targeting to sell ten million motorbikes by the end of 2020.

Honda Motorcycle & Scooter India’s president & CEO Keita Muramatsu told, “Our dream is to become the number one motorcycle company in India,” he further added that India contributes around 13 percent of their global sale, but they are targeting to take it up to 30 percent.

Honda is now showcasing the 110cc motorcycle at the Auto Expo. Honda will be launching new models in this commuter segment every year.

At the end of July, the number of landline subscribers stood at 34.18 million with BSNL and MTNL having a combined market share of over 82%. But with the booming cell phone market, the landline market is on a decline for quite some time now. BSNL is also eyeing on enterprise business and also plans to offer voluntary retirement to about 100,000 of its employees. BSNL has been suffering loss for quite some time now with declining revenues and low tariffs.

The Federation of Indian Export Organisations (FIEO) has expressed its concerns over congestion at JNPT and has asked the government in to intervene in this regard and solve the problem. The congestion is because of the decision taken to replace old cranes with new ones. In a statement FIEO said in order to avoid congestion, additional charges are being levied onto shippers for discharge of cargo.

According to Ramu S Deora, president of FIEO said that if the problem is not solved soon then it may soon turn into a crisis. He further added the surcharges levied by shipping companies vary and each of them has taken independent action to recover the additional costs from shippers. He further added that the surcharges at the Mumbai port are unwarranted as the shipping lines were informed in advance about the crane replacement work.

Borrowers must brace up for some tough times as the country’s largest lender State Bank Of India (SBI) has hiked its benchmark rates by 50 basis points. The hike in rates is a response to the increase in key rates by the Reserve Bank Of India (RBI) to control inflation. The bank said that it will hike interest rate on fixed deposits of 6 to 9 months by 50 bps to 7%.

ICICI bank too has increased the rates by 50 bps. It is to be noted that with RBI increasing key rates, banks were left with no option but to hike key rates and pass some of the pressure to consumers. Last week, HDFC too had hiked rates by 50 bps.