Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
Investors must be prepared to believe that things will get better eventually, no matter how bad the current situation may look. If you don't possess this optimism, you will not possess the courage to invest and if you don't invest, you don't give yourself any chance to get wealthy, says Devangshu Datta.
ArcelorMittal, Tata Steel and three other companies are in the race to get control over the iron ore mines in Kawardha, about 120 km from Raipur. The company winning the bid to mine 100 million tonnes of iron ore in Kawardha will have to set up a steel plant. "We have kept the matter pending and any decision on the allotment of the iron ore mines in Kawardha is likely to be taken after the state assembly elections," CMDC Chairman Gourishankar Agrawal said.
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.
Feedback Ventures, an infrastructure consulting company, Arcelor-Mittal, and Reliance Retail are among the 25-30 companies that went to the Indian Institute of Management, Ahmedabad (IIM-A) this time.
Lakshmi Mittal and Arun Sarin, two India-born entrepreneurs, have figured out in UK's Power 100 list.
Tata Steel has a technical tie-up with Nippon Corporation for automotive steel production. Nippon is also helping plan the layout of its proposed steel plant at Kalinga Nagar.
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.
In Jharkhand, the company is hopeful of starting work as soon as the mines issue is resolved, while in Orissa, consultants for the detailed project report (DPR) and the socio-economic survey have been appointed.
The 'Iron Man of India' has emerged a contender to buy English Premiership football club Birmingham City after making an initial inquiry, The Daily Telegraph reported on Wednesday.
The stake was bought for Rs 447 crore (Rs 4.47 billion).
Corus, which was acquired by Tata Steel for 6.2 billion in the beginning of this year, is eyeing global network alliances in automotive steel, as it aims to build a strong position in the international market.
Corus, which was acquired by Tata Steel for 6.2 billion pounds in the beginning of this year, is eyeing global network alliances in automotive steel, as it aims to build a strong position in the international market.
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
Calling his a friend, Sarkozy said he has asked steel magnate L N Mittal to justify shutting down of his steel plant and compensation for the job losses.
Mittal, who holds 623.62 million shares of the firm, would get $233.85 million at each payout. Mittal family is the promoter of the company with a 43.04 per cent stake, valued at about $39.1 billion, while other public shareholders hold 56.96 per cent.
Esmark Inc. has entered into a joint venture with Brazilian iron-ore producer Companhia Vale do Rio Doce and Ukrainian steelmeker Industrial Union of Donbass Corp to purchase the plant.
Arcelor-Mittal proposed two plants in Orissa and Jharkhand of 12-million tonne capacity each. These are the first greenfield projects anywhere by Mittal.
A key point to understand is that Ford is selling these brands not because they are in their worst trouble ever, but simply because of Ford's overall crisis - it lost more than $12.6 billion in 2006 - is pushing CEO Alan Mulally to raise money to fulfill his declared ambition to restore the mass-market Ford business to health.
Seeks SEZ status for 12 million tonne steel unit.
'We believe that the Clintons have emotional ties and relationship with India and it is time to bring a friend who knows about India and who knows about the Indian-American and that is why we support Hillary for President'
L N Mittal, Mukesh and Anil Ambani, and Azim Premji are among the 8 Indians who figure in the Forbes magazine's list of 100 richest people in the world.
The European Parliament should discuss and debate Lakshmi Mittal's $23 billion bid for Arcelor, Josep Borrel, President of the Parliament has said.
The rosy picture of India Inc's acquisition spree both at home and abroad could dissolve into a nightmare if employee related issues post-M&As are not taken care of strategically.
Sections in France may still be sore about Laxmi N Mittal's takeover of Arcelor but Luxembourg, where the factory is located, is certainly not afraid of the owner of the world's largest steel manufacturer of Indian origin.
This was his first meeting with the Prime Minister since he acquired rival Arcelor.
NRI steel tycoon L N Mittal will arrive in New Delhi on July 7 to review his India plans, just days after reaching an agreement to merge Mittal Steel with it nearest rival Luxembourg-based Arcelor to create the world's largest steel conglomerate.
Vedanta Resources has delayed its offer to buy a further 20% stake in iron-ore mining company Sesa Goa.
The return of private investment now struggles with lack of funds and election-driven uncertainty.
NRI business tycoon Anil Agarwal-led Vedanta Resources will pay $1.37 billion (about Rs 5,700 crore) for acquiring 71 per cent stake in India's biggest iron ore exporter Sesa Goa.
It is no coincidence that most of the willing land sellers are non-tribals who own plots to the south-west of Torpa on the road leading to the town of Simdega, where the highway crosses the Koel and Karo rivers.
Amid the raging controversy over Mittal Steel's takeover bid for rival Arcelor, the European Union on Tuesday said it was against racial discrimination
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Steel baron Lakshmi Mittal, on his first visit to India after acquiring world No.2 steel firm Arcelor, will meet Prime Minister Manmohan Singh on Friday
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.
In the eye of storm over his $22.7 billion takeover bid for Arcelor, NRI steel tycoon Lakshmi Mittal faced fresh charges of "excessive pricing" policy over the sale of steel to the local industry in South Africa.
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