TOKYO - THE world's biggest automaker Toyota Motor Corp will cut production by 20 per cent this year as it tries to cope with falling worldwide demand, a report said on Sunday.

The company plans to build 6.5 million vehicles this year, compared with an estimated 8.21 million units built during 2008, the Tokyo Shimbun said.

RIYADH - NISSAN chief executive Carlos Ghosn said on Sunday that the global car market could shrink almost another 14 per cent in 2009, after a nine-percent fall last year, due to the global financial crisis.

Mr Ghosn said at a Global Competitiveness Forum in Riyadh that he expected more consolidation in the automotive industry in the months ahead and that recovery would not take place before 2011.

MUMBAI - INDIA'S software sector, reeling from a huge accounting fraud in one of its flagship companies, faces further problems as US firms scale back in a troubled global business environment, analysts said.

Two of India's top IT companies - Infosys Technologies and Wipro - have acknowledged that their revenues are under pressure.