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25 years of independence in Eritrea : Thousands continue to flee the repressive regime

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Petrol shortages in France and free hugs in Britain

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Petrol shortages in France and #HugABrit

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THE DEBATE

Obama in Vietnam: Just how close can Washington and Hanoi become? (part 1)

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THE DEBATE

Fuel on the fire: French unions block refineries to protest labour reform (part 2)

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Music show: Judith Owen, Eric Clapton and Ariana Grande

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Video: Christian NGO brings Syrian refugees to Italy

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'Near miss' for Austria and the EU

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IN THE PAPERS

#hugabrit

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Ferrari and Indian Tata sign new deal

Latest update : 2008-12-18

2008 F1 team champion Ferrari have signed a new sponsorship with Indian carmaker Tata, extending their existing contract. Ferrari parent company FIAT already has a joint venture with Tata to produce cars in the Indian state of Maharashtra.

REUTERS - Ferrari have bucked the global economic crisis squeezing Formula One by agreeing a sponsorship deal with Indian carmaker Tata.

"For the first time an Indian brand will appear on the Ferrari," president Luca di Montezemolo told Italian media. "It's historic."

A Ferrari spokesman confirmed a deal had been reached and said the details and duration would be announced shortly.

Tata and Ferrari's parent company Fiat have a joint venture in the Indian state of Maharashtra to produce cars.

Formula One approved a package of cost-cutting measures last week to help the sport after the economic crisis led to Honda's withdrawal.

Date created : 2008-12-18

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