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Dubai World outlines debt plan to leading creditors—report DUBAI—The debt-ridden Dubai World conglomerate is outlining proposals to restructure $22 billion of its debt to leading creditors, The National daily reported Tuesday.


Ford unveils new small car for booming India NEW DELHI—Auto giant Ford launched its bid to enter India's lucrative small car market on Tuesday, unveiling a brand new model to compete with international rivals from General Motors, Volkswagen and Hyundai.


Philips sells shares in Hong Kong's TPV THE HAGUE—Dutch electronics giant Philips said Tuesday it had finalised the sale of 200 million shares in Hong Kong-based flat screen producer TPV Technology for a net $130 million (95 million euros).


Bank lending up 5% January—BSP Lending by the country's commercial and universal banks continued to grow in January, but the pace of expansion slowed down substantially in what industry players said was a reflection of projections that the economic recovery this year would be gradual.


Honda to build second motorcycle plant in India Japan's Honda Motor Co. said Tuesday it would build a second motorcycle factory in India, employing about 2,000 people, to meet surging demand in the fast-growing market there.


Toyota Prius in runaway drama on California freeway A Toyota Prius accelerated out of control on a busy California freeway on Monday before police intervened to bring the vehicle to a standstill, police said.


RP stocks up 0.4% despite listless Wall Street trading (UPDATE) Local stocks advanced modestly on Tuesday to breach the 3,100 mark for the first time since mid -January, bucking the listless trading in Wall Street, even as investors turn more cautious now that the market is nearing recent highs.


Oil lower in Asian trade Oil declined in Asian trade Tuesday amid fading euphoria over better-than-expected US jobs data, analysts said.


Phoenix Petroleum posts 27% growth in sales revenue Publicly listed Phoenix Petroleum Philippines Inc. posted a 27-percent jump in sales revenue to P5.883 billion in 2009 from the previous year's P4.615 billion due to the growth of its retail network, commercial accounts, and lubricants business.


Oil prices struggle higher as optimism fades NEW YORK—Oil prices struggled Monday to extend last week's rally as the euphoria of better-than-expected US jobs data faded.