Luxembourg on Tuesday said a takeover law that it planned to enact in May was in no way aimed at creating impediments to steel tycoon L N Mittal's bid to takeover Arcelor.
The chairman and group managing director of Bharti Enterprises, Sunil Bharti Mittal, was chosen the best Asian Telecom CEO
Mukesh Ambani has raced ahead of Gautam Adani to become the richest Indian on a list of wealthiest people in the country. The 66-year-old chairman of the diversified Reliance Industries saw his wealth growing by a marginal 2 per cent to Rs 8.08 lakh crore, while Adani's fortune plummeted by 57 per cent to Rs 4.74 lakh crore, as per the 360 ONE Wealth Hurun India Rich List 2023. Anas Rahman Junaid, managing director and chief researcher at Hurun, attributed the decline in Adani's wealth to the Hindenburg report published in January. In January,
Telecom giant Bharti Airtel on Monday proposed an annual pay package of up to Rs 70 crore (Rs 700 million) for its chief Sunil Mittal, besides other benefits, while seeking its shareholders' nod for his remuneration.
The NRI billionaire also asserted that the steel maker is bullish on India plans and committed to the investments there. ArcelorMittal is committed to its proposed Rs 1-lakh crore (Rs 1 trillion) investment in India, to set up two 12-million tonnes per annum steel mills in the state of Jharkhand and Orissa.
Bharti Group chairman Sunil Mittal on Tuesday said the unified licensing regime proposed by the Telecom Regulatory Authority of India could not be pursued in its present form, as it was in contradiction of the TDSAT judgement.
ArcelorMittal announced on Wednesday a new leadership for India, where Vijay Bhatnagar will spearhead the company's operations and proposed steel projects in the country. Bhatnagar will take up the new position of Country CEO, India and will have ultimate responsibility for the company's operations and projects in the country, a statement from ArcelorMittal said.
It's a neat three-in-one for steelmaker extraordinaire Lakshmi Mittal. In one fell swoop he has become the globe's biggest steelmaker -- an Andrew Carnegie for the 21st century.
A bench comprising Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Misra also took note of the affidavit of the Manipur chief secretary that there was no short supply of basic commodities like food and medicines for people facing economic blockade.
The 20 contenders for the title, short-listed by the BusinessWeek magazine, also included Apple Computer CEO Steve Jobs, media baron Rupert Murdoch and Google CEO Eric Schmidt.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
As Ambani plumped for the CDMA technology to carry his data-driven business plan, he found himself going eyeball-to-eyeball with Sunil Mittal, the leader of the GSM pack.
The Supreme Court on Friday directed the Manipur government to apprise the apex court-appointed committee of the steps taken to secure places of public worship in the state where ethnic clashes have claimed more than 170 lives since May.
The Centre has appointed senior IAS officers Vumlunmang Vualnam and Neeraj Mittal as new secretaries in the ministry of civil aviation and the department of telecommunications respectively in a major secretary-level bureaucratic reshuffle, a government order stated.
Steel tycoon Lakshmi Mittal has lost the world record for the most expensive home purchase to an anonymous Russian billionaire, who has forked out $750 million for a French villa, built by a Belgian king and once frequented by the likes of Frank Sinatra and Ronald Reagan.
TATA Group Chairman Ratan Tata and India-born steel tycoon Lakshmi Mittal will be among seven international business leaders to attend the three-day International Investment Council to be hosted by President Thabo Mbeki this weekend in South Africa.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
The dates for the much-awaited WFI elections have been confirmed, with the results also set to be announced on the same day.
The Supreme Court on Friday said the trial in the Manipur violence cases being probed by the Central Bureau of Investigation (CBI) will take place in neighbouring Assam and asked the Chief Justice of the Gauhati high court to nominate one or more judicial officers to deal with the matters.
'Interim Budget has ignited the entrepreneurial spirit.'
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
The second richest Indian said he felt bad about the delays his projects faced in India.
Bharti Enterprises, which has announced join ventures with US giant Wal-Mart for its retail foray, said that the rising real estate prices could hamper the growth of the organised retail industry in the country.
The LN Mittal-owned Arcelor-Mittal, the largest producer of steel in the world, is set to sign a memorandum of understanding with the Orissa government for its proposed 12 million tonne steel plant this week.
The world's largest steel maker ArcelorMittal may cut 10,000 jobs globally next year and plans to reduce costs in order to regain its lost market share particularly in Europe, a media report says.
The mob freed dacoit Hema Meghwal, who was carrying a reward of Rs 32,000, and their two other associates lodged in the lock-up.
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
China's largest steel producer, Shanghai Baosteel, has set its eyes on Baotou Iron & Steel Group after global steel baron, Lakshmi Mittal's bid for a 50 per cent stake in the Chinese company faltered.
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
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.
Sunil Mittal's Bharti, in which British telecom firm Vodafone has 10 per cent stake, said on Thursday it is yet to hear a final word from the UK-based operator on its plans to buyout Hutchison Telecom's stake in Indian joint venture Hutch-Essar.
Barely days after Mittal Steel announced to cut 800 jobs in its South African operations, a leading trade union of that country slammed the move and warned that it could spark off a nationwide outrage.
Made-in-India apps -- the likes of QuackQuack, TrulyMadly, and Aisle -- are wooing Internet users in smaller towns. Indian consumers spent close to $10 million in 2022 on dating and friendship apps.
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