Arindam Majumder &Amp; Ishita Ayan Dutt

Stories by Arindam Majumder &Amp; Ishita Ayan Dutt

Why the British operations remain a drag on Tata Steel's performance

Why the British operations remain a drag on Tata Steel's performance

Rediff.com   22 Feb 2023

Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.

What Employees Can Expect In 2023

What Employees Can Expect In 2023

Rediff.com   5 Jan 2023

'Enterprises have become more demanding in terms of their productivity expectation from their employees.'

Finally, a shimmer of hope for the 'golden fibre'

Finally, a shimmer of hope for the 'golden fibre'

Rediff.com   25 Sep 2022

In the early part of 1800, a 30-acre plot next to Fort Gloster on the banks of river Hooghly in Howrah district of Bengal was the nerve centre of industrial activity; it housed India's first steam-powered cotton mill, Bowreah Mills, which was set up by a British merchant and went on to become a hub of factories - a rum distillery, foundry, cotton yarn factory, an oil mill and a paper mill, et al. Spearheaded by Dwarkanath Tagore, the industrialist grandfather of Rabindranath Tagore, the commercial complex was possibly the first of its kind in the country. Close to 200 years later, after much ebb and flow of history, the hub is set for a resurgence of sorts.

Stakes rise for bauxite blocks in Odisha on Adani Group's entry

Stakes rise for bauxite blocks in Odisha on Adani Group's entry

Rediff.com   25 Aug 2022

The next auction for bauxite blocks in Odisha may see heightened interest with Adani Group charting an entry into alumina refining and existing players looking to boost capacity. Hemant Sharma, principal secretary, Odisha industries department, said that three bauxite blocks have been scheduled for auctions this year. Adani Group - which will be setting up a 4-MMTPA alumina refinery and may enter aluminium production - is expected to bid for mines, though raw material linkages shall be available from Odisha Mining Corporation (OMC).

'There is space for a brand like Vistara'

'There is space for a brand like Vistara'

Rediff.com   17 Aug 2022

'I am seven months into the job, but it feels like seven years.'

Will Partha's arrest in SSC scam impact Mamata?

Will Partha's arrest in SSC scam impact Mamata?

Rediff.com   10 Aug 2022

After the Trinamool's overwhelming majority in the West Bengal assembly elections last year, the SSC scam has given fresh ammunition to the Bharatiya Janata Party and the Communist Party of India-Marxist. Ishita Ayan Dutt reports.

Consumer product companies likely to pause price hikes

Consumer product companies likely to pause price hikes

Rediff.com   8 Aug 2022

Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.

SpiceJet told to operate only half its flights for 8 weeks

SpiceJet told to operate only half its flights for 8 weeks

Rediff.com   28 Jul 2022

In an unprecedented action, Indian aviation regulator DGCA has directed low-cost airline Spicejet to operate only 50 per cent of its flights for eight weeks. This follows an unusually high number of incidents involving the airline, raising safety concerns. The curtailment of capacity is unlikely to have any commercial impact on the airline owned by entrepreneur Ajay Singh. SpiceJet already operates less than 50 per cent of the flights it had filed for the summer schedule.

UDAN international plan under cloud as AirAsia India fails to get permit

UDAN international plan under cloud as AirAsia India fails to get permit

Rediff.com   26 Jul 2022

Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.

Labour pain for pvt domestic airlines as staff threaten mass leave over pay

Labour pain for pvt domestic airlines as staff threaten mass leave over pay

Rediff.com   21 Jul 2022

Failure to reinstate salary even two years after the drastic cuts has landed the airline industry in a massive industrial relation crisis. While employees of Air India had organised a strike back in 2011, it is for the first time that private airlines are facing serious stress related to workers. IndiGo witnessed two of them, back to back. In the first instance, around 50 per cent of the IndiGo flights were delayed as a large number of crew members went on mass sick leave, apparently to participate in a rival airline's walk-in job interview.

How Ukraine war may give wings to Jet's international plans

How Ukraine war may give wings to Jet's international plans

Rediff.com   6 Jul 2022

Jet Airways is looking to lease around 20 Airbus A320 aircraft from lessors by 2024 as it aims to restart operations and fly international routes in the next one-and-a-half years. Jet's A320 aircraft fleet, according to sources, will be a mix of the Ceo and the more fuel-efficient Neo variants. These planes were originally intended for Russian airlines but could not be delivered following western sanctions on Russia over its Ukraine invasion.

Collectors' items: Some of these exotic pets cost Rs 150,000!

Collectors' items: Some of these exotic pets cost Rs 150,000!

Rediff.com   3 Jul 2022

White-lipped tamarin is a type of monkey that lives in the Amazon area of Brazil and Bolivia. Prevost's squirrel is a colourful species from the forests in the Thai-Malay Peninsula and nearby islands. Sugar gliders are tiny marsupials - 6.3 to 8.3 inches in length - native to Australia.

Cabin crew, guards among 1,600 Air India employees opting for VRS

Cabin crew, guards among 1,600 Air India employees opting for VRS

Rediff.com   1 Jul 2022

More than 1,600 employees of Air India, the former state-run carrier now owned by the Tata group, have opted for voluntary retirement under a scheme announced on June 1. These employees comprise 22 per cent of permanent staff (around 7,000). The airline has a total employee strength of around 10,800, including those on contract.

Sri Lankan crisis: Indian orthodox tea gets a boost

Sri Lankan crisis: Indian orthodox tea gets a boost

Rediff.com   30 Jun 2022

It's a busy season for Indian producers of orthodox tea. As Sri Lanka, the world's largest supplier of orthodox tea, struggles with its worst economic crisis, a window of opportunity has opened up in neighbouring India. Calls to Indian planters and exporters from foreign buyers of Sri Lankan orthodox tea are pouring in and the buoyant sentiment is reflecting in prices at auction centres. Orthodox tea refers to loose-leaf tea which is produced using traditional or orthodox methods such as plucking, withering, rolling, oxidation and drying.

ITC's luxury project in Colombo hit as Sri Lanka economy sinks

ITC's luxury project in Colombo hit as Sri Lanka economy sinks

Rediff.com   30 Jun 2022

ITC's first foreign venture in the hotel space - a premium and luxury mixed-use development - has been "adversely impacted" by Sri Lanka's economic crisis, the firm said. The $300-million project under WelcomHotels Lanka (Private) Limited (WLPL), a wholly-owned subsidiary of ITC, comprises a luxury hotel and a super-premium residential apartment complex on 5.86 acres of prime sea-facing land in Colombo. In its latest annual report for financial year 2021-22 (FY22), ITC mentioned that the project's construction was running on schedule till the third quarter (Q3) of FY19, but was adversely impacted due to disruptions in the aftermath of the terror incidents in 2019 and thereafter by recurrent waves of the Covid-19 pandemic.

Agnipath: Veterans fail to find govt jobs after retirement

Agnipath: Veterans fail to find govt jobs after retirement

Rediff.com   21 Jun 2022

Even as Union ministers allay misgivings over Agnipath, figures show a meagre 2.4 per cent of the ex-servicemen who applied for a government job could get one as the Centre and the states have been unable to recruit against the reserved quotas. Public sector undertakings (PSUs), ministries, and officials of Sainik Boards have blamed it on the lack of skill among ex-servicemen. They say veterans' inability to qualify in selection exams is one of reasons for this. Also, non-recognition of qualifications obtained from the military are reasons why their recruitment has remained significantly low, pushing them towards low-skill jobs.

What makes Essar steel sector's comeback kid

What makes Essar steel sector's comeback kid

Rediff.com   21 Jun 2022

Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.

'Ranchi incident is a learning experience'

'Ranchi incident is a learning experience'

Rediff.com   16 Jun 2022

'We should have calmed down the child. We will do an internal analysis on that.'

Drone start-ups: Adani to Ambani, billionaire Indians race for supremacy

Drone start-ups: Adani to Ambani, billionaire Indians race for supremacy

Rediff.com   13 Jun 2022

An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).

Air India offers VRS in first move to prune headcount

Air India offers VRS in first move to prune headcount

Rediff.com   2 Jun 2022

Tata-owned Air India has launched a Voluntary Retirement Scheme (VRS) for its employees- in the airline's first drive to reduce headcount. The salt-to-steel conglomerate acquired the carrier last year. As of November 2019, the airline had 9,426 permanent employees.