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ONGC-Mittal gives up oil block in Nigeria

Last Updated: Sunday, August 17, 2014, 21:06

ONGC-Mittal Energy Ltd, the famed joint venture of ONGC and steel czar Lakshmi Mittal, has relinquished an oil block in Nigeria after the African nation refused to relieve it of a USD 6 billion downstream investment commitment.

Top 5 richest Indians have half of nation's billionaire wealth

Last Updated: Wednesday, August 13, 2014, 14:37

Mukesh Ambani remains the richest man in the country with an estimated net worth of USD 24.4 billion (about Rs 1,49,474 crore).

Lakshmi Mittal’s bid to buy mountain sparks protests in UK

Last Updated: Monday, August 04, 2014, 13:53

Indian steel tycoon Lakshmi Mittal has bid for an iconic mountain range in Britain, sparking protests from local people who believe the move could make the area a playground for the super-rich.

ArcelorMittal lowers forecast for global steel demand

Last Updated: Friday, May 09, 2014, 12:56

ArcelorMittal, the world`s largest steelmaker, trimmed its forecast for global steel use on Friday due to a more pronounced slowdown in China and a decline in Russia, though it retained optimism about its core European and U.S. markets.

Anand Mahindra, Lakshmi Mittal only Indians in Fortune's greatest leaders list

Last Updated: Tuesday, March 25, 2014, 17:20

Industrialists Anand Mahindra, who chairs Mahindra and Mahindra, and Lakshmi Mittal, CEO Arcelor Mittal have been named amongst the top 50 leaders in the world at positions 40 and 48 respectively.

ArcelorMittal to invest $15 mn in Brazil for special steel

Last Updated: Thursday, March 13, 2014, 19:28

The world's largest steel-maker ArcelorMittal is investing USD 15 million at its Brazil facility to produce specialised high strength steel for automotive industry by next year.

Lakshmi Mittal's salary,perks in 2013 declines 38% at $2.29 mn

Last Updated: Sunday, March 02, 2014, 12:23

Lakshmi Mittal, Chairman and CEO of world's largest steel-maker ArcelorMittal and one of the richest Indians, took a 38 percent cut in his salary and perks last year amid his firm reporting second consecutive loss in two years.

ArcelorMittal posts $1.23 bn net loss for Oct-Dec quarter

Last Updated: Friday, February 07, 2014, 16:38

It said the results could have been better had the company not incurred USD 1.3 billion on exceptional items.

ArcelorMittal rejigs top management, no change in India

Last Updated: Thursday, December 12, 2013, 18:09

The restructuring, however, leaves India operations untouched with Sudhir Maheshwari's responsibilities remaining the same as CEO of India and China and Head of M&A, Finance and Risk Management.

Lakshmi Mittal's home street among world's most expensive area

Last Updated: Wednesday, November 20, 2013, 18:02

The average price per sq mt in Pollock's Path, The Peak is USD 120,000, followed by Kensington Palace Gardens, London (USD 107,000).

ArcelorMittal says beyond trough after earnings boost

Last Updated: Thursday, November 07, 2013, 12:58

ArcelorMittal, the world`s largest steelmaker, reported higher profit than expected in the third quarter, boosted by increasing iron ore shipments and cost savings, and declared it was through the bottom of the cycle.

ArcelorMittal says 'very saddened' by death of Alain Vigneron

Last Updated: Tuesday, October 15, 2013, 23:47

World's largest steel maker ArcelorMittal Tuesday said it is "very saddened to learn of the death of Alain Vigneron" and would extend all possible support to the bereaved family.