Hey cratima, welcome to the forums! 
Now, let's see if we can help:
I've read that blogs are seen better by search engines, because of their continuous update.
The draw to blogs is basically that they get updated frequently, so the spiders see fresh content and keep coming back frequently. At their very essence, a blog is actually the same as any other type of website (displaying content on the Internet). The difference is in how it organizes that data - it uses a Content management System (CMS) into which you input the data/content, then it pops out on the Internet in the template you've selected to show it in.
We've tried this thing before but we've got little results.
We want to create a new blog. My main interest is to bring traffic for cratima website and new business for the company.
There's lots to consider, and no small amount of work needs to go into having a successful blog. Success being defined as it reaches your goals.
Before we'll decide to transform this thought into reality I have some questions.
1. Should we put the blog on Cratima 's domain name, on should I make a blog on blogspot, myspace...etc.
I personally recommend to folks that if the blog is for business, either put it on it's own domain, or as a folder on the current domain. Unless it's going to be maintained as a stand alone website, drop it into a folder on your site. If you can justify it, or happen to have a keyword-rich domain name hanging around, drop it onto it's own domain and manage it as it's own entity. It's still easy enough to funnel potential clients from one site to the other, and a stand alone site may well outrank a blog set inside a folder on your site - not for any reason other than it'll be easier for folks to recall one domain and drop links to it, than to recall the domain and subfolder where the blog resides. In the end, this point comes down to factors such as resources on your end and accessibility to a good domain.
2. Regarding the content. We want the blog to be about new internet solution that can help new businesses. a) We can search the web, find out news, filtered them and then put the most interesting in our blog.
Be careful doing this. if your blog is stocked full of content that appears on other sites, it'll get caught in duplicate content filters and never reach your goals. Like any useful website, a blog lives and die son it's content. Building a readership needs to balance with organic search efforts (in my opinion), so bringing all the industry news to one point is useful for readers, but not so good in terms of building unique content for organic ranking efforts. Adding snippets from articles and your own take on each story, though, can work for both aims...and make sure you link to the original story. 
b) We can add value to different news on the net, value from our knowledge and business.
Sounds like your view is to add commentary on each story you publish form another source - this is good, just be careful to make sure add a good amount of unique content on each post/page/article to avoid getting snagged as dupe content.
c) Use both articles with added value and some funny stories related to the businesses.
If I understand it, this is a viable combo to follow - reference industry news stories, offer your own views on them, and offer dedicated, unique content of your own.
3. How many blog administrators are necessary to make it interesting (with quality and enough information)
I maintain all my own blogs myself. One Admin should be able to manage the blog itself (using something like Wordpress makes the managing bit easy), but adding multiple authors can help spread the workload around. keep in mind that you'd like to post unique content on the blog 3 - 5 times (at least) per week, more if you can. Remember, fresh content keeps the spiders coming back and shows value to readers, keeping them coming back.
HTH
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