Mumbai: JSW Steel, India's No 3 producer, said CBI visited its key plant in Karnataka on Monday morning to seek information regarding iron ore purchases, further hurting sentiment in the beleaguered company. JSW's shares, which have lost more than half their value this year, fell to a more than two-year low on Monday on concerns regarding the police enquiry and a rating downgrade by a US investment bank. "Till the...
05:12 PM, Oct 03, 2011
Bellary: The Central Bureau of Investigation (CBI) on Monday searched offices of two companies, including one owned by the wife of arrested mining baron and former minister G Janardhana Reddy, and also the residence of his close associate B Nagendra. According to sources, the 25-member CBI team, led by its Karnataka wing Superintendent of Police Subramanya Rao, conducted searches at the office of Associated Mining Company (AMC) owned by Aruna...
12:49 PM, Oct 03, 2011
Paradip: Fresh efforts by officials to persuade villagers to allow resumption of work at the proposed Posco plant site near here failed, paralysing project related activities for the seventh day on Monday. Discussions were held with residents of Nuagaon in a bid to persuade them to give up their protest against tree felling, ground levelling and other works, Additional District Magistrate (Paradip), Surjit Das said. Three officials of Jagatsinghpur district...
07:04 PM, Aug 22, 2011
New York: American author and entertainment mogul James Patterson has topped a Forbes magazine list of the world's highest paid authors, earning more than twice that of No 2 Danielle Steel. Patterson, 64, the dominant mass market fiction author who has published more than 80 books at a prolific rate with the help of collaborators, earned $84 million for the past year, according to the survey based on sales from...
01:53 PM, Aug 18, 2011
The slow pace of capacity addition ails the Indian steel industry and PK Misra, the top bureaucrat at the countr's steel ministry, is trying hard to find a solution. For the past few weeks, Misra's team is weighing the pros and cons of what could be a one-shot solution, ultra mega steel projects or UMSPs. On paper, these mega steel plants look promising. Each of these steel plants will have...
01:21 PM, Aug 16, 2011
Mumbai: Tata Steel on Friday said its fiscal first-quarter net profit tripled, mainly due to one-time gains, but the steelmaker flagged high raw material costs and economic uncertainty as a cause for concern. In a presentation to analysts, Tata Steel said uncertainty about the economy had risen following the downgrade of US debt and the European sovereign debt issue. The world's No 7 steelmaker also said growth sentiment in key...
04:41 PM, Aug 12, 2011
New Delhi: The first look of Henry Cavill as Superman in 'Man of Steel' was released on Thursday by Warner Bros. The film is directed by Zack Snyder and slated to be released on June 14, 2013. It stars Amy Adams as Lois Lane and Kevin Costner as Clark Kent's parents Martha and Jonathan Kent. Superman's Kryptonian parents are played by Russell Crowe and Julia Ormond. ...
04:02 PM, Aug 05, 2011
New Delhi: Steelmaker JSW Steel on Thursday denied the conclusions drawn in a report by the Lokayukta - Karnataka's anti-graft watchdog - against the company on procurement and transportation of iron ore in the state. The steelmaker is not looking at legal recourse on the issue for now but may do so in the future, Seshagiri Rao, joint managing director and group CFO, told a press conference in New Delhi....
03:52 PM, Aug 04, 2011
Mumabi: Overseas investments by Indian companies in July was $2.69 billion, with Tata Steel, Crompton Greaves and Glenmark, among the leader players committing investments abroad. The FDI outflows last month is almost half of $5.47 billion outflow in June. According to an RBI data released on Tuesday, as many as 289 overseas investment transactions were carried out by various companies last month, with Sanmar Group International leading the pack. It...
10:37 PM, Aug 02, 2011
New Delhi: The Lokayukta report indicts not just politicians but also corporate houses and the mining mafia. The report names Jindal Steel among the corporates that should be investigated for giving bribes. The Bellary mining mafia is exposed and it cost BS Yeddyurappa the job of the chief minister. The mighty Reddy brothers might find it tough to recover from here all because of the meticulous probe by Lokayukta Justice...
07:24 AM, Jul 29, 2011
New Delhi: Justice Santosh Hegde on Thursday said he had nothing personal against Karnataka Chief Minister BS Yeddyurappa and that he had only done his job by investigating the illegal mining case. "I have nothing personal aganist Yeddyurappa. I have only done my job," Hegde said in an exclusive interview to CNN-IBN. He said that the report carries information about the accounts of top corporate and mining companies and that...
12:42 PM, Jul 28, 2011
San Diego: Freida Pinto is the envy of women at the Comic-Con fan convention. She gets to sex up the star of the new Superman movie in her upcoming action tale "Immortals." Pinto and Henry Cavill, who plays Superman in "Man of Steel," wound up getting acquainted quickly when "Immortals" went into production. Director Tarsem Singh told a Comic-Con audience Saturday that the sex scene was the first thing shot...
03:05 PM, Jul 25, 2011
New Delhi: After the one-lakh-rupee car, the Tata Group is now planning to launch affordable Nano houses that will cost just Rs 32000. This plan is aimed at the rural market and said to be ready by the end of 2012. "It's a quick fit pilot built in 7 days. Essence is you should have a land. Pricing is based on a 20 sq mtr area with a flat root...
08:50 AM, Jul 16, 2011
Paradip: Work at the proposed site for Posco's controversial Rs 52,000 crore steel project in Orissa's Jagatsinghpur district resumed on Tuesday after remaining stalled since June 26. "Work in Gadakujanga and Nuagaon areas is going on today," Jagatsinghpur district collector N C Jena said. Felling of trees and clearing of forest area and acquired betel-vine farms were continuing in Gadakujanga and Nuagaon areas, official sources said, adding steps were also...
03:18 PM, Jul 05, 2011
Bhubaneswar: Orissa government on Monday declared "use of kids" in anti-Posco agitation as "illegal" after redeploying force close to the dharna site at Gobindpur village, the entry point to Dhinkia area. Armed police force which had been withdrawn from near the dharna site last week, was again deployed as the state government decided to resume the land acquisition work for the Rs 52,000 crore project soon, they said. "We have...
04:49 PM, Jun 27, 2011
Paradip: Agitators stalled work for the second day on Monday at Posco's mega steel plant project near Paradip in Orissa's Jagatsinghpur district as prohibitory orders were clamped. Slogan-shouting youths, women and children marched to Noliasahi-Polang area in the Nuagaon panchayat where the boundary wall and rehabilitation colonies were being built and demanded that work be halted immediately, officials said. Land acquisition has been 'temporarily halted' since June 21, while work...
02:43 PM, Jun 27, 2011
Kolkata: Maoists on Saturday threatened the Tatas to withdraw the Singur case from the Calcutta High Court or else they would go for an indefinite economic blockade in all their installations including Tata Steel Plant at Jamshedpur. "If the Tatas try to grab land and paralyse the economic life of the people of Singur, then we will also think of indefinite economic blockade in all the factories of the Tatas,...
09:56 PM, Jun 25, 2011
Bhubaneswar: Rejecting allegations of forcible land acquisition and violation of Forest Rights Acts at Posco's proposed plant site villages in Orissa, the state government on Thursday claimed that it was making progress at the ground level. "There is no violation of any law for the Posco project," Chief Secretary B K Patnaik told reporters in the face of allegations made by political parties and social activists. Stating that the ground...
07:57 PM, Jun 23, 2011
Mumbai: Exactly six years after Korean steel giant Posco signed an MoU with the Orissa government for its Rs 52,000-crore 12-MTPA project, the mega venture remains mired in uncertainty. As the anti-steel plant agitation gains momentum, both Posco and Orissa government have vowed to push ahead with the project in Jagathsinghpur district. The country's biggest single FDI project till date has been beset by stiff protests from local communities against...
12:14 PM, Jun 21, 2011
