Bharti Global is planning to put up more satellites and has set a stiff deadline to launch commercial Internet services by October in the UK, Alaska, northern Russia and northern Europe.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding for stressed assets.
'The size of the investments is important, but equally crucial is the number of jobs that these proposals create.'
Contra-dating is all about pushing boundaries. rediffGURU Ravi Mittal, CEO of online dating app Quack Quack, lists 10 reasons why everyone should try it at least once.
Lakshmi N Mittal would become president of the new steel giant Arcelor-Mittal, while Arcelor's current Chairman Joseph Kinsch would continue to be in the position till his retirement.
Several exit polls have given the BJP an edge over the AAP, which has been ruling in Delhi since 2015.
In effect, he became the first former president to get the nomination for the top office after being convicted of a felony.
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
The government must also look at rationalising the levies on the sector and close long standing legal disputes that are a big drag on performance of operators, he said.
There have been many films made on rape and sexual violence. Most of them hope that depiction of violence will help to titillate the audience. Mittal Vs Mittal also sets out with this objective but the audience is more likely to get repulsed than titillated.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
'We have to be prepared for the larger disruption that is likely to take place.'
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
Business tycoons at the Ambani's pre-wedding celebrations at Jamnagar, Gujarat.
Parathas made from buckwheat, water chestnut flour and alu have a different texture, and an altogether unusual taste.
It is not your job to help her move on from a relationship that she chose to break. You don't owe your ex-partner your unconditional support, counsels rediffGURU Ravi Mittal.
Diwali Recipe: Shilpi's Makhane Ki Kheer
The International Olympic Committee (IOC), on Friday, cleared Narinder Batra of indulging in any wrongdoing during his election as the IOA president, rejecting the complaint of irregularity filed by the Indian body's vice-President Sudhanshu Mittal.
The first-ever Kho Kho World Cup will be held at the Thyagraj Stadium in New Delhi from January 13 to 19 next year, the tournament organisers said on Wednesday.
'You can either sulk and blame your destiny or you can choose to handle the situation with positivity.'
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
Former Delhi chief minister Arvind Kejriwal on Friday vacated the 6, Flagstaff Road residence to move to his new address in the Lutyens' Zone.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
The aircraft, reported to be a Cessna 152 owned by flying school Alchemist Aviation, took off from the Sonari aerodrome in Jamshedpur around 11 am with a pilot and trainee on board, they said.
Ankur Mittal added to the Indian shooting contingent's medal rush by winning a bronze in the men's double trap event of the 21st Commonwealth Games, in Brisbane, on Wednesday.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
The important thing to remember here is that his action reflects on him and what kind of a person he is; it does not highlight your worth, counsels rediffGURU Ravi Mittal.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
French government is up in arms against Lakshmi Mittal after 629 workers lost their jobs on closure of two furnaces of ArcelorMittal. Things have got so bad that President Holland has threatened to temporary nationalise ArcelorMittal. In France, people consider him as a big-bad mega-rich Indian who came to lay off workers and drive French steel industry to ruin.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
The Committee of Creditors have issued ArcelorMittal and its partner Japan's Nippon Steel & Sumitomo Metal Corp a Letter of Intent declaring them as the "successful applicant".
Mittal's salary in 2019-20 was Rs 26.97 crore, unchanged from the previous fiscal year. However the value of perquisites was Rs 99.8 lakh, down from Rs 1.87 crore a year back. His retirement benefits were unchanged at Rs 2.15 crore.
