An employee works inside a steel rerolling mill at Chitra industrial area, on the outskirts of Bhavnagar town, in GujaratManufacturing activity surged to a 6-month high in December thanks to a spike in factory output and new orders from domestic and international firms, a survey of purchasing managers showed on Monday.The HSBC Markit India Manufacturing PMI jumped to 54.2 from 51.0 in November, its biggest monthly rise since April 2009.(Pictures by Reuters)

Factory PMI at highest

The new &#39;Ritz&#39; car stands on a display during its launch in New DelhiAuto maker VE Commercial Vehicles today said it has recorded 25.3% jump in total sales for December at 5,051 units.Domestic sales in December increased to 4,512 units from 3,426 units in the year-ago period, a jump of 31.6%, the company added.(Pictures by Reuters)

Car sales jump

A labourer works at a wholesale coal shop in KolkataState-run Coal India (CIL) is likely to set up a subsidiary for buying coal assets in South Africa, as part of efforts to boost its output.The government of Limpopo, the northernmost province of South Africa, approached CIL a couple of months back, requesting the PSU to form a joint venture (JV) with one of its public sector firms for acquiring coal mines there, a top official in CIL said.

CIL eyes S African assets

Reserve Bank of India&#39;s Governor Duvvuri Subbarao speaks during a meeting with bankers before unveiling the monetary policy review at the head office in MumbaiThe RBI is likely to begin easing monetary policy to address concerns about economic growth, Governor Duvvuri Subbarao said in a BBC interview, reiterating comments made by the RBI when it kept rates unchanged on Dec 16."From here on, we could expect reversal of monetary tightening. But it&#39;s difficult to say when that will take place and in what shape it will roll out," Subbarao said in an interview published on the BBC website on Monday.

RBI hints to ease

A worker counts gold bangles at a jewellery-making workshop in JammuGold imports by India, the world&#39;s top consumer, plunged 56% to 125 tonne in the 4th quarter, cutting full-year imports by 8.4% as record high prices and high interest rates hit demand, the head of India&#39;s leading bullion body said.India, whose appetite for gold dates back centuries, imported about 878 tonne of gold in 2011, down from 958 tonne in 2010, Bombay Bullion Association President Prithviraj Kothari said.