Even major Asian markets were quite supportive; Shanghai was up 0.14%, Hang Seng was up 0.56% and Taiwan gained 0.2%. However, Nikkei was down 0.3% and Straits Times declined 0.6%.
However, the sell-off in Reliance Industries, ONGC, TCS, Infosys, Kotak Mahindra, Ambuja Cements, SBI and PNB capped the gains to some extent.
Bussan Auto aims to finance Rs 100 cr this fiscal MUMBAI: Bussan Auto Finance India, which is financing the customers and dealers of India Yamaha Motor, has targeted to finance Rs 100 crore this fiscal.
?We have already financed Rs 100 crore in the last two fiscals. We will finance another Rs 100-crore of Yamaha customers this fiscal,? the company Chairman and Managing Director, Mr Kota Odagiri, told PTI here on Friday.
?Our aim is to provide better service to Yamaha customers. We are growing the way Yamaha is growing,? he said, adding ?more rural people have started accepting our schemes.? BAF India, a joint venture of Bussan Automotive Singapore Pte, Axis Bank and Yamaha Motor Asia Pte, is a non-banking finance company.
1 hour ago CHICAGO — The United States will guarantee loans to Ford to help export more than 200,000 cars to Canada and Mexico, President Barack Obama said Thursday as he hailed the comeback of the US auto industry.
Recalling his stated intention in January to double US exports within five years, Obama told Ford workers that the 250-million-dollar loan guarantee "means more production and more manufacturing jobs right here in the United States." Ahead of Obama's visit to the Ford plant in his hometown of Chicago, the White House said the Export-Import Bank loans "will finance 3.1 billion dollars of export sales." The announcement comes a week after the president made similar trips to plants of the two other "big three" auto manufacturers, General Motors and Chrysler, where he hailed the industry's steady recovery despite economic hardship and high unemployment.
"The auto industry has gone through a difficult time. And it's not back to where it needs to be... It's going to take more time to heal from all the damage that was done. But we?re beginning to see our efforts pay off," Obama said Thursday.
’s emissary to stricken auto towns,awarded Fenton, Missouri, $2.1 million in federal money to helpfind a tenant for a vacant Chrysler plant.
The factory, which in 2006 was the area’s biggest employerwith a payroll of about 6,000 making minvans and Dodge Rams,remains empty, and Mayor Dennis Hancock still has the $2.1million.
“We’re really struggling with what exactly we’re going touse that money for,” Hancock said in an interview.
Car sales rose again in the US in July, according to manufacturers' figures released August 3, but only just.
Overall sales rose by 5 percent across the industry compared to the same period in 2009, with 1.05 million vehicles sold during the month, far less than some had predicted.
General Motors sold the most cars, posting a six percent rise on July 2009 with 199,432 vehicles sold.
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