A German bankruptcy court has sold off Reliance Industries' polyester making subsidiary Trevira GmbH to two local entrepreneurs for an undisclosed amount.
For its Singapore trading desk, the company aims to hire a few top level executives in a few weeks. The desks in London and Houston will also recruit more executives for finding opportunities in those markets. The company has another trading desk in Dubai. An RIL spokesperson declined to comment on the expansion of trading desks.
ISB has introduced this concept, christened "Shadow a CEO", to mobilise funds for charity and allow its students to work with the Who's Who of India Inc for a day. Some 16 CEOs have agreed to participate. "We not only want to put the money generated for benefit of the society, but also let our students experience the joy of operating with a CEO for a day," said Ajit Rangnekar, Dean of ISB.
No one is saying the steel industry is out of trouble. The financial crunch continues, and coupled with high cost of input, severely affected the first-quarter profits of steel companies. But most agree with Tata that the signals are encouraging.
European wind turbine makers interested; deal could be $1 billion. The company aims to raise about $1 billion from the sale of a 61.28 per cent stake, said two banking sources.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
The suggestion for this special pay was part of a memorandum that the All India IIT Faculty Federation submitted to the Ministry of Human Resources and Development (MHRD) on August 23, stating that the pay structure proposed is unacceptable and a threat to the IIT system.
A consortium of British Gas, Oil and Natural Gas Corporation and Reliance Industries, which controls the PMT fields off the west coast, is spending about Rs 2,500 crore (Rs 25 billion) for reviving the reserve in this fiscal, while new wells are being drilled at the Cairn-operated Ravva field (off the Andhra coast) for small-sized additional discoveries. The Tapti field has witnessed 'natural decline in the production profile' during the first quarter ended June 2009.
Companies that made expensive overseas acquisitions lead the way in driving cost efficiencies.
To this end, the group is consolidating its global assets under GMR Infrastructure International (registered in the Isle of Man) for a public issue in London, according to an executive who did not wish to be identified, in a move that largely replicates what metals behemoth Vedanta did six years ago.
The US-based aircraft manufacturing giant will expand its manufacturing presence, launch subsidiaries and strengthen research and development (R&D) programmes in the country. Jeppesen, a subsidiary of Boeing, is close to setting up an office in Hyderabad, while another, Aviall, the company's spare parts subsidiary, already has operations from Noida.
Wary of the policing by the All India Council for Technical Education -- the body that regulates technical education in the country -- more and more management schools are going the Indian School of Business way, opting for one-year management programmes and registering themselves as private limited entities under the Companies Act, 1956.
Sterlite Industries, the flagship firm of London-listed Vedanta, may get the support of rival bidder Harbinger Capital Partners in its takeover plan for the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the bankruptcy court that its plan to restructure Asarco should not be considered.
Ore and coking coal to come from Tata mines in Canada, Africa.
McKinsey, RBS postpone placements by three to six months
The company has a debt burden of Rs 14,500 crore.
The group also has plans to spend Rs 50,000 crore (Rs 500 billion) on power generation. The London-listed giant will spend Rs 43,000 crore (Rs 430 billion) to enhance its capacity, in addition to its Rs 50,000-crore (Rs 500-billion) plan in power generation.
Reliance Gas Transportation India Ltd, the pipeline company wholly owned by Reliance Industries promoter Mukesh Ambani, has decided to write to the finance ministry, seeking a restoration of profit-linked tax benefits the Budget has replaced with an investment-linked tax break.
However, the company will go ahead with its plans in Jharkhand, and has secured iron ore mines and coal linkages to the project, company sources told Business Standard. An e-mail reply from the steel major said it was not expecting its projects in India to start before 2014.
Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group's Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit.
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