The Cabinet Committee on Economic Affairs last evening gave OVL, the overseas arm of the state-run explorer, approval to invest its share of $204 million in the oilfield. Over and above these, the two have committed a minimum exploration investment of $165 million and an additional optional exploration expenditure of $235 million.
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
The Orissa government on Thursday pulled up ArcelorMittal, for "not making any investment" so far in its proposed 12mtpa greenfield steel plant at Keonjhar, questioned its "actual intentions".
In Mumbai, ONGC Chairman R S Sharma confirmed Mittal's pullout. OVL had anticipated such a move and had a few months back sought Cabinet approval to invest all of the $400 million in the Satpayev on its own in case Mittal walked out.
Amid a row over irregularities in competitive exams National Eligibility cum Entrance Test (NEET) and National Eligibility Test (NET), the education ministry on Saturday notified a seven-member panel headed by former Indian Space Research Organisation (ISRO) chief K Radhakrishnan to ensure transparent, smooth and fair conduct of examinations through the National Testing Agency (NTA).
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
Erigaisi Arjun was held to a draw by Alexey Sarana of Serbia
Billionaire Lakshmi Mittal will trust none other than his better half Usha when none of the directors are there to run the world's largest steel company.
Lakshmi Mittal-led Mittal Steel reported on Wednesday a 43.7 per cent increase in its first quarter net profit, while beating its own forecast due to accelerated synergy generation from its $38 billion takeover of Arcelor last year.
World's largest steel maker Mittal Steel on Saturday signed an MoU with the Jharkhand government, committing to invest approximately Rs 40,000 crore (Rs 400 billion) to enter mining and steel making operations in the state.
What started in 2009 as a five-location service has seen a steep expansion.
Mittal's wealth dropped with the Arcelor Mittal share price falling
Non-Resident Indian industrialist and chairman of Mittal Steel, Lakshmi N Mittal plans to buy Rising Sun, the biggest private yacht in the world.
Are you struggling with dating? rediffGURU Ravi Mittal, CEO, Quack Quack, the online dating platform, will answer your queries.
Sunil Bharti Mittal, chairman and managing director of Bharti Tele-Ventures, sold 3,13,005 shares on March 9 and 24,36,995 shares on March 10 of his holding in the company.
Special CBI Judge O P Saini adjourned Monday's proceedings in the wake of stay granted by the Supreme Court on separate pleas filed by Mittal and Ruia challenging the March 19 order of the trial court summoning them as accused in the case.
Supreme Court had on October 24 upheld government contention that non-core revenue in telecoms groups should be included in adjusted gross revenue. According to DoT's calculations, Bharti Airtel faces a liability of around Rs 42,000 crore after including licence fees and spectrum usage charges while Vodafone-Idea may have to pay about Rs 40,000 crore.
NRI steel magnate Lakshmi Mittal earns a pay packet of over $3.6 million in cash as Arcelor Mittal's chief executive officer - a figure which is over 33 times of the average annual compensation of a CEO in India.
Mittal confirmed ArcelorMittal's partnership with ONGC not over, even as there are few projects they are discussing.
Serum Institute of India chief Adar Poonawalla will pay 138 million (about Rs 1,444 crore) for a Mayfair mansion in London in one of the city's most expensive home sales of the year
In its annual ranking of the world's richest people released last month, Forbes had named Mittal at the eighth place with a net worth of $19.3 billion.
At a time when the Indian startup space is going through a funding winter, marked by investors tightening their purse strings, angel investments in fledgling firms have maintained their momentum. While overall deal volumes among startups have fallen, investment activity among the country's most-active angel investors have been relatively steady. We Founder Circle (WFC), a Mumbai-based network of angel investors, emerged as the most-active angel investment platform for the second consecutive year in 2023 with 82 investments.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
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.
NRI steel tycoon Lakshmi Mittal has suffered a $50 billion decline in the value of shares he holds in the ArcelorMittal following the global financial meltdown, a leading economic daily has claimed.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
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.
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.
Bharti Airtel is the country's largest telecom operator.
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.
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.
ONGC and Mittal had in July 2005 come together to form two joint ventures -- ONGC Mittal Energy Ltd and ONGC Mittal Energy Services Ltd.
