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.
In a television appearance Monday, Putin said Russia had struck military and infrastructure targets across Ukraine following the Crimea bridge blast.
He recalled that the state was home to Vaishali, said to be the oldest republic in the world.
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
The petroleum ministry has told ONGC to give away 60%stake plus operating control in India's largest oil and gas producing fields of Mumbai High and Bassein to foreign companies, according to an October 28 letter to the state-owned company. Amar Nath, additional secretary (exploration) in the Ministry of Petroleum and Natural Gas, wrote a 3-page letter to ONGC chairman and managing director Subhash Kumar, saying productivity of the Mumbai High and Bassein & Satellite (B&S) offshore assets under state-owned firm was low and international partners should be invited and given 60 per cent participating interest (PI) and operatorship. This is the second time since April that Nath, who is part of the ONGC management as the longest-serving government nominee director on its board and often considered a potential candidate to replace Kumar next year, has written an official letter, painting a poor picture of the company's performance.
'We may think that in our border quarrel, the Chinese can give up a bit of territory here or there to satisfy us, but that's not how they see it.' 'Arunachal Pradesh is 90,000 square kilometres and twice the size of Taiwan.' 'The Chinese can't be seen to be asserting their rights to Taiwan and on the other hand, cheaply giving up Arunachal Pradesh.'
Pence, in response to a question from Chambers, who is also the USISPF chairman, said that he truly believes that the relationship between the US and India, because much of the work that the corporate sector have done, and the work of President Donald Trump and Prime Minister Narendra Modi, has never been stronger.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
With $120 billion worth of deals, 2018 was the best year on record. Many also blame frequent policy flip-flops and increasing tax scrutiny as big dampners for business.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
Gulf countries are expected to collectively spend around $70 billion in energy projects in 2009 to accommodate massive energy consumption.
Lateral placement, placement for students with work experience of a year or more, at the Indian Institute of Management, Calcutta, have seen newer entrants from the industry in the race this year.
While a maximum of 21 people died in Puri, four deaths each were reported from Mayurbhanj and Jajpur, and three each in Cuttack and Kendrapara.
At least 34 people were killed during Cyclone Fani, which barrelled through coastal Odisha on Friday last, causing widespread destruction and leaving hundreds grappling with water shortage and power cut.
US foreign direct investment inflows into India will increase to $1 billion annually by 2010, according to Indo-American Chamber of Commerce.
Besides electric vehicles, some start-ups present are working in the area of bike customisation, motorsports, auto gaming arena, autonomous vehicle and so on
The meeting with Xi is being held amid the ongoing trade war between the United States and China.
Faced with mounting losses and unsold inventory, struggling smartphone maker BlackBerry has sold its US office in Texas to Brookfield Property Group as it seeks to rationalise costs.
The storm is India's strongest tropical cyclone to make landfall in 20 years.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
Tirthak Saha is living the American dream, but his work has a typically Indian context.
Prince of Qatar, Hamad Bin Nasser A A Al-Thani, is looking at investing Rs one trillion in India.
The Indian community in Australia and the Pacific will get an opportunity to contribute between India and countries in the region at the 7th Regional Pravasi Bharatiya Divas Convention in Sydney, a top Indian diplomat has said.
Cementing its strategic partnership with Seychelles, India on Wednesday signed four agreements with the Indian Ocean island nation to boost security and maritime partnership.
If elected president, the Republican nominee said he would declare China a currency manipulator, cancel payments to United Nations for combating climate change and renegotiating NAFTA.
Prime Minister Modi will meet President Obama at the White House on September 29 and 30, US officials said.
Arunabha Ghosh on why India will increasingly become an energy great power, but not an energy hegemon.
His view will be shaped by his perception of US world interests and India's economic performance relative to China.
In a veiled reference to Pakistan, India said perpetrators of violence in Afghanistan must not be allowed safe havens in its neighbourhood, as it slammed the United Nations Security Council's sanctions regime for not designating the leader of Taliban as terrorist, calling such an approach a "mystery."
The rupee resumed higher at 61.75 as against the last closing level of 62.05 per dollar at the Interbank Foreign Exchange (Forex) Market and firmed up further to a one-month high of 61.53 before quoting at 61.59 per dollar at 1045 hours.
The two leaders enjoyed the sunshine with a walk in the grounds of Schloss Meseberg, an 18th century Baroque castle in the Brandenburg district of Germany.
He did not mention the issue of Jammu and Kashmir.
India offers $1 billion towards Afghanistan's development during Afghan President Ashraf Ghani's visit.
Prime Minister Narendra Modi will hardshell India as an attractive investment destination during his Germany trip.
Piyush Goyal emphasised that India is committed to pursue a green path to growth.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
Canada will supply uranium to energy-starved India beginning this year over a period of five years, a decision which was termed as a launch of a new era of bilateral cooperation and mutual trust by Prime Minister Narendra Modi.
If money allocations, investment commitments are a sign of better things to come, the state can be optimistic.
The joint statement issued after Prime Minister Narendra Modi and President Barack Obama's first-ever summit is high on intent and ambition. Notably missing from the statement is India's refusal to be America's partner in its war against ISIS.
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