World Briefing
Alcatel sells Cegelec for $1.8 billion -- Engineering group Alcatel Alsthom said on Friday it had completed the sale of its Cegelec unit to GEC-Alsthom, its joint venture with Britain's GEC Plc, for 10.6 billion francs ($1.8 billion). The sale of Cegelec, a 22-billion franc global engineeering business, had been on the cards since March.

Uno diesel version unveiled
Fiat India Automobiles has unveiled the Uno's diesel version in the domestic market. The Managing director G Ravina said the version, weighing 70 kg more than petrol version, had a fuel efficiency of 16-17 km a litre. It was fitted with a modern, noise-free diesel engine, considered more environment-friendly than a petrol engine.

Jobless rise a part of Japan's economy cure
Japan's jobless rate looks set to hit new records and exceed US levels as the economy struggles to reallocate resources to more productive sectors. The process is a necessary step towards resucitating the moribund economy -- but right now it feels as if the cure is killing the patient. The figure which was 4.3% in April topped most forecasts.