According to the newspaper, Lakshmi Mittal said large parts of manufacturing industry would not suffer the same problems as those parts of the world economy more closely linked to banking and finance such as housing and consumer goods. The India-origin billionaire indicated that substantial parts of the broad industrial sector across the world would perform in a satisfactory way in the next one to two years.
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.
They say 'money can't buy you happiness,' but a new study has proved the opposite. Researchers at Wharton Business School have carried out the study and found that inhabitants of richer nations are happier than those of poorer countries, the Financial Times has reported. Their finding contradicts years of wisdom that higher national gross domestic product often did not translate into a greater overall sense of well-being.
Engaging India is an online column analysing the issues, trends and forces behind the business and politics shaping India and its impact on the world. Engaging India appears on Thursday mornings exclusively on FT.com India, a dedicated online section on India, and is written by Jo Johnson, the Financial Times' South Asia bureau chief; Amy Yee, New Delhi correspondent; and Joe Leahy, Mumbai correspondent.
Anil Ambani, whose flagship company Reliance Communications is in talks with South Africa-based MTN, is looking to buy more than 40 per cent stake in the telecom major, a media report said on Tuesday.
Britain's new points-based immigration system may become a 'retrograde step' as it prevents India and other developing countries from exporting information technology systems and personnels to the country, Commerce Minister Kamal Nath has said. "The new regime can make it harder for software and other IT executives to travel back and forth between India and the UK, imperiling their ability to fulfill service contracts," Nath told the Financial Times.
The Financial Times reported that Ambani hopes to be a major shareholder in RCom and MTN after the firms combine in a reverse takeover. Ambani would pay an extra $4 to $5 billion in cash to bring his stake in MTN to his target level of 34.9 per cent, the ceiling beyond which he would be forced to make a general offer for MTN, the newspaper said in an article published in its online edition.
Tibetans are losing faith in the Dalai Lama's conciliatory 'middle way' because of China's refusal to strike a deal with him over the region's future, the exiled spiritual leader said in an interview with the Financial Times.
Dean of ISB, M Rammohan Rao on ISB's new programmes, their unique selling proposition, placement programme, their recently launched pre-doctoral programme and dearth of quality faculty crunch faced by Indian management schools.
Google's comments echo figures released recently by AT&T and O2, which carry the iPhone exclusively in the US and UK respectively.
Union ministers fanned out across the country to highlight the crackdown on black money to mark the first anniversary of demonetisation on Wednesday which the Bharatiya Janata Party celebrated as "Anti Black Money Day" while the Congress-led Opposition observed it as "Black Day" with street protests.
Bharti Airtelis looking to buy assets in emerging markets - the latest sign that India 's biggest mobile phone operator could broaden its base. One would see Bharti, which has a market value of $44bn, make a partial tender offer for a 51 per cent stake in MTN. This would allow MTN to retain its listing in Johannesburg and reduce the debt Bharti would need to take on to finance a deal.
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.
The changes afoot in the capital may herald the beginning of the end of India's long infrastructural nightmare.
The Tata Group had acquired its UK steel operations as part of a 6.7 billion pounds acquisition from Anglo-Dutch steelmaker Corus in 2009.
When Anil Ambani, the billionaire businessman, launched the initial public offering of his company, Reliance Power, this week, he received enough orders to cover the $3bn listing within one minute of its opening.
With the murder of Benazir Bhutto just days before the elections, and with the government coming up with new stories everyday about her death, the report says that Musharaff's position is probably now more insecure and he might not remain in power by the end of the year.
The Mumbai traffic police, in a move that runs against the very culture of driving in this city of 18m, have begun cracking down on noisy motorists.
In an interview with the Financial Times last week, Jos Luis Duran, Carrefour's chief executive, said he was poised to sign a retail joint venture in India.
Bharti Airtel, India 's leading mobile operator, said it could "move pretty quickly" if the board of MTN, the South Africa-based telecoms group, puts itself up for sale on Monday.
What a weaker dollar really does is to encourage American and international investors to invest in non-American markets. The more the dollar drops, the more global equities rise. Many Asian currencies are hitting record highs against the dollar.
He added that Suzuki could not build a car for the same price as the Nano without sacrificing quality and standards.
A World Bank report released last week projected that remittances to developing countries alone will reach $240bn this year compared to $221bn in 2006, with Asia receiving $114bn.
AT&T has applied for a mobile licence in India in partnership with Mahindra Telecommunications, a local telecoms company, and Mr de la Vega said it was hoping to acquire spectrum for its wireless services.
We go down memory lane look at the iconic moments from late Franca Sozzani's career.
Cairn India, which is 69 per cent owned by London-listed Cairn Energy, is very close to securing the vital approval it needs to begin work on the pipeline to transport the oil from its vast Rajasthan oil fields, the Indian government has said.
Tony Blair will be US investment bank JPMorgan's part time political advisor.
David Miliband, new British foreign secretary, told the Financial Times he is keen to improve ties with India.
Even as developing nations gear up for a big boom in carbon market, several projects registered with the UN carbon market regulator have drawn flak from various quarters.
For the past few years the top brass at Pearson did pretty well to grapple with the threat of digital disruption.
Ratan Tata, chairman of the Tata Group, feels that after the successful launch of his dream project -- the Rs 1-lakh car -- will ideally be the nice time for him to retire from active business life, a media report said in London.
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
Tsipras asked to keep a discount on value added tax for Greek islands, stretch out defence spending cuts and delay the phasing out of an income supplement to poorer pensioners
Saudi Arabia, the world's largest oil exporter, is reported to be investing $4-5 billion in the force
The FT report said the existence, size and investments of the highly profitable internal trading fund, which was set up three decades ago, have until now remained largely unknown outside a circle of former and current insiders.
French dairy major Groupe Danone has offered to pay the Wadia Group euro1 million ($1.34 million) as compensation to use its Tiger brand in international markets.
The high-profile bidding war for control of Hutch-Essar could intensify with reports in the British media suggesting that Indian partner Ruias have received funding pledges worth up to $25 billion to buy out foreign stakeholder Hutchison Telecom.
Former US Trade Representative and US Deputy Secretary of State, Robert B Zoellick (53), is said to be the frontrunner for the post of the next World Bank president, according to a report in the Financial Times.
United States technology companies have become the command and control networks of choice for terrorists and criminals, one of Britain's senior-most intelligence chiefs has warned and sought their cooperation in intelligence matters to tackle the menace.
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