Observing that steel prices will continue to rise in view of its demand, London-based steel magnate Lakshmi Mittal said his company will make an investment of over $5 billion in the next five years in the sector.
According to the Rich List, Mittal remains at the top of the list despite the value of his stake in Arcelor Mittal SA having come down to more than half in the past year.
Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
Bharti Airtel is the country's largest telecom operator.
Standard Chartered, the UK-based emerging markets bank, and ArcelorMittal, the world's largest steel company, are considering listing in India using a domestic depositary receipt programme. The proposed listings are still at an exploratory stage.
Though the preparatory work has been under way for two years, the financial effect of abandoning the plants would be 'negligible' since no land had so far been acquired and no building work has been done.
The court, after going through the apex court's order on separate petitions filed by Mittal and Ruia, listed the matter on April 16 for further proceedings. The apex court will hear their pleas on April 15.
Noting its role in reviving the US economy and creating jobs, President Barack Obama will visit a steel plant owned by NRI tycoon Lakshmi Mittal whose company is the largest supplier of steel to the US auto manufacturing sector.
ONGC and Mittal had in July 2005 come together to form two joint ventures -- ONGC Mittal Energy Ltd and ONGC Mittal Energy Services Ltd.
The Supreme Court-appointed Justice Gita Mittal committee, set up to oversee relief and rehabilitation of the victims of ethnic violence in Manipur, on Monday submitted three reports highlighting the need for reconstruction of identity documents, upgradation of compensation and appointment of domain experts to facilitate its functioning.
American business magazine Forbes said on Monday that India-born steel tycoon Lakshmi Mittal is being conferred the third Forbes Lifetime Achievement Award, which honours heroes of entrepreneurial capitalism and free enterprise.
Lakshmi Mittal-led ArcelorMittal made an offer to buy an additional 29.4 per cent stake in domestic steel firm Uttam Galva Steel at Rs 120 a share.
Steel tycoon Lakshmi N Mittal's move to revive and take over the sick steel plant of his brother, Pramod Mittal, in Bulgaria is facing hurdles after a major trade union representing over 2,000 workers raised its opposition.
The steel magnate, however, said that with the measures that the Indian government has announced in last couple of months, the confidence is starting to build up.
Exercise. Check e-mails. Wake up to a cup of tea.
NRI steel baron Lakshmi Niwas Mittal's LNM Foundation announced on Wednesday the launch of Rs 36 crore (Rs 360 million) IT institute near Jaipur in association with the Rajasthan government.
On receiving the award at a glittering function, Mittal said: "This is a tremendous honour and I would like to thank the GSM Association for considering me worthy of this award."
The Centre on Saturday night announced that the probe into alleged irregularities in the medical entrance exam NEET will be handed over to the CBI for a comprehensive investigation.
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He feels that the reserve price set by the government for the 2G spectrum auction was very high.
"Their (Arcelor Mittal) management board member Malay Mukherjee was here in Ranchi. He said the company is satisfied with the development of the proposed steel project in Jharkhand," Chief Minister Madhu Koda told reporters in Ranchi. He was reacting to a query that steel tycoon L N Mittal reportedly expressed disappointment with his projects, both in Jharkhand and Orissa, last week.
The world's largest steel maker, Mittal Steel Company, has made a long-term commitment to China by setting up a research institute for metals in central Hunan province.
Steel Minister Ram Vilas said in a meeting that the prime minister could intervene, if need be, to provide iron ore blocks to Lakshmi Mittal, CEO of ArcelorMittal, for his two proposed 12 mn tonne steel plants in India. The world's biggest steelmaker has signed MoUs with Jharkhand and Orissa governments to set up greenfield steel plants wherein it will invest a total of Rs 80000 cr. ArcelorMittal has already been allotted two coal blocks, one each, in Orissa and Jharkhand.
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
India's Ankur Mittal won silver medal in the men's double trap event at the ongoing ISSF World Shotgun Championship, in Moscow, on Tuesday.
The two-year-old Mittal Champions Trust, set up by the world's richest Indian Lakshmi Niwas Mittal, is not satisfied with the results at the Beijing Olympics that yielded just one medal from the 56-strong Indian squad.
Lakshmi Mittal and Arun Sarin, two India-born entrepreneurs, have figured out in UK's Power 100 list.
Singapore based telecom firm SingTel, which holds over 30 per cent stake in Bharti Airtel, on Wednesday said it has full faith in the company's corporate governance standards under the leadership of company's chairman Sunil Bharti Mittal.
Queen's Park Rangers, the Championship football club co-owned by two of the billionaires behind F1, on Thursday welcomed one of the world's richest men into its fold when Lakshmi Mittal bought a 20 per cent stake, writes Roger Blitz.
IOA plans to hold WFI elections on July 4, appoints Retd. Justice Mahesh Mittal as returning officer
Says spending $3 billion every year on networks alone
When greats Sachin Tendulkar, Muttiah Muralitharan, Sanath Jayasuriya came together!
Airtel has pitched for a hike in mobile and data tariffs.
While Airtel's financial performance started improving from third quarter of 2013-14, the the drop in the total remuneration of Mittal has been mainly because of Rs 75 lakh (Rs 7.5 million) reduction in performance-linked incentive, as per the latest Annual Report of the company.
On Tuesday, ArcelorMittal Group Management Board Member Sudhir Maheshwari had said during a conference call that they have made 'a proposal to SAIL and are in discussion with SAIL (to set up a steel plant through joint venture).'
The transaction, subject to antitrust authorities approval, is expected to be completed by the end of this year, said Gonzalo Urquijo, member of the Group Management Board of ArcelorMittal.
Mittal Steel on Friday announced that it had bought a 37.17 stake in Hunan Valin Steel Tube Wire, a subsidiary of Hunan Valin Iron & Steel of China for $314 million.
In an interview to the Financial Times in Tokyo, Mittal has said that his new strategy was to have a number of smaller steelmaking hubs in different parts of the country each capable of making a few million tonnes of steel a year.
Striking a different chord with Prime Minister Manmohan Singh, who prescribed a social charter for the industry, Confederation of Indian Industry's new president Sunil Mittal on Friday
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