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
LN Mittal faces high court action over the purchase of a £70-million house in London, after a property consultant accused him of not paying her commission.
The world's largest steel producer ArcelorMittal on Thursday said it will trim its workforce by up to 9,000 by offering a voluntary separation programme.
'These are capex and infrastructure-linked sectors, PSUs or stocks of some corporate houses.'
ArcelorMittal is likely to have to make permanent cuts of up to 10 per cent in its steelmaking capacity as the industry reels from the impact of the worst global recession in decades, industry observers have warned.
Global steel giant Mittal Steel owned by NRI billionaire Laxmi Mittal is to cut consumption of natural gas at its Ukrainian steel plant following steep hike in gas price by Russia.
Indian Grandmaster Arjun Erigaisi was stunned by Nikolas Theodorou of Greece in the second round of Sharjah Masters chess tournament in Sharjah.
Non-Resident Indian steel magnate Lakshmi N Mittal, the richest Asian in the United Kingdom, has bought a central London house for a record price of £70 million, a leading daily reported on Sunday.
NRI steel tycoon Lakshmi Mittal is likely to buy the costliest mansion in London, worth 117 million pounds ($230 million), for his son Aditya.
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.
Vijay Bhatnagar, chief executive officer of ArcelorMittal India, said, "The move is aimed to ensure that these people, who have never handled large sums of money, do not get misguided by unscrupulous elements and end up losing their money. The objective is to figure out ways for these people, who have very little or no education and financial knowledge, to get the highest possible returns through the safest possible investments."
Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel, Vodafone, Idea Cellular and Reliance Communications.
It is Aditya Mittal, son of steel tycoon Lakshmi Mittal and CFO of ArcelorMittal, who persuaded his father to accept a shareholding of below 51 per cent in the company post its takeover of European giant Arcelor. Before Arcelor takeover, Mittal family held an 88 per cent stake in Mittal Steel. Aditya, who visited a steel plant first at the age of eight, joined his father in early 1997, after working for less than a year as an investment banker at CSFB.
In the July-September quarter last year, the company had a net profit of $910 million, ArcelorMittal said.
Mittal, now worth 10 billion pounds, saw the biggest fall in wealth terms.
Billionaire L N Mittal, who runs the steel behemoth, is keen to set up a central office in Rajarhat near the city, for which the company has sought land from the state government, Bhattacharjee said in Kolkata, inaugurating the 36th World Congress on Housing Science.
It had posted $659 million profit during the third quarter last year.
Steel tycoon Lakshmi Niwas Mittal has intensified efforts to acquire his younger brother Pramod Mittal's ailing Kremikovtzi steel plant in Bulgaria, even as workers of the plant continued to protest over delayed wages. "Around 1,000 workers at Kremikovtzi continued their protests on Thursday over delayed salaries and food allowance payments," the Steel Business Briefing reported quoting a spokesman for the trade union Militzi.
Lakshmi Mittal, India-born chairman and chief executive officer of the world's largest steel producer, ArcelorMittal, said despite the expanding steel making capacity in India, the country is set to face a massive shortfall in supply in the coming decades.
The 68-year-old senior lawyer was earlier married to Meenakshi (his first wife) and Caroline Brossard later in 2020.
NRI steel tycoon L N Mittal on Wednesday said valuation of steel companies in India had come down significantly but there were no sellers.
The police had filed charges in December against Bharti Airtel and Vodafone's India unit.
In a list of Britain's costliest streets, the top slot has been grabbed by Kensignton Palace Gardens, popularly known as Billionaire's Row, where Mittal family has purchased three houses and was once home to late Princess of Wales Diana.
Erigaisi Arjun was held to a draw by Alexey Sarana of Serbia
Mittal will purchase 91 million common units of IPIT at the offering price that will be determined through a book building process, but would 'not be obliged to subscribe and pay' for any of the units if the subscription cost exceeds Singapore dollar100.1 million (about $73 million).
"Our Group Management Board has approved the constitution of a 15-member technical team for our steel projects in Orissa and Jharkhand under the supervision of our Chief Technical Officer Pierre Gugliermina," ArcelorMittal Brazil Chief Executive Officer Jose Armando Campos told PTI.
Mittal has been named at the top for third consecutive year with a net worth of 27.3 billion rand ($4 billion) in the latest annual list of 100 richest in South Africa, compiled by that country's weekly The Sunday Times.
Manisha Malhotra, CEO, Mittal Champions Trust, is determined that the Indian athletes her organisation sponsors bring gold for India. She shares her plans with Rediff.com's A Ganesh Nadar.
The Ruias of the Essar group have decided to get into yet another takeover battle. And this time they are taking on none other than Lakshmi Narayan Mittal, the owner of world's largest steel maker, ArcelorMittal, to take over the Bulgarian steel firm, Kremikovtzi AD, an ailing steel mill owned by Mittal's younger brother Pramod Mittal.
Incidentally, ArceloreMittal announced lower than expected net profit of $1.7 billion for the second quarter, while admitting this was the effect of the slowdown in Europe and a demand dip in China.
Appointed as the first female head of the state judiciary on August 3, 2018, she retired on December 8, 2020.
Sunil Mittal is confident that Airtel will retain its numero uno position, inspite of Vodafone's competition.
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).
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Out of the world's 10 wealthiest CEOs, four positions have been grabbed by Indians -- Lakshmi Mittal is ranked at the second place followed by Mukesh Ambani (6th place), Anil Ambani (7th) and Wipro chief Azim Premji (9th). The list has been topped by Warren Buffet, the chief executive of Berkshire Hathaway with a fortune of $52 billion.
ArcelorMittal on Thursday reported a net loss of $728 million for the first quarter ended March 31
Arcelor-Mittal has shortlisted three sites in Jharkhand for setting up a Rs 20,000 crore (Rs 200 billion) 12 million tonne steel project. The three sites are at Galudih, Saraikela and Torpa, said Malay Mukherjee, one of the eight members of the Arcelor-Mittal management team.
