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Indian Market Ends Firm

Indian Market Ends Firm

After last week's flat close, the Indian market rose sharply on Monday notwithstanding mixed Asian cues and the differences of opinion on key issues at the G20 summit in Toronto. A pullback in European stocks following a four-day retreat and higher U.S index futures obviously helped lift sentiment. Closer home, the government's path-breaking [...]

POSCO to lower stainless steel prices for July

POSCO to lower stainless steel prices for July

South Korea's POSCO (005490.KS: Quote), the world's No.4 steelmaker, said in a statement on Monday that it would lower prices of major stainless steel products by 300,000 won ($246.9) per tonne for July to narrow the price gap with imports. From next month, POSCO's hot-rolled stainless steel products would be priced to 3.35 million won per [...]

Eight injured in clash with police at Tata Steel

Eight injured in clash with police at Tata Steel

RANCHI: Eight labourers were injured in a clash with the police at the main entrance of the Tata Steel plant at Jamshedpur near Ranchi on Monday, police said. According to a company official, the clash occurred after the security guards of the steel plant sought gate pass from a group of labourers. "An altercation between contract workers [...]

Tata Steel appoints Kohler as MD, CEO for European biz

Tata Steel appoints Kohler as MD, CEO for European biz

Tata Steel on Sunday announced the appointment of Karl-Ulrich Kohler as the managing director and chief executive officer of its European arm with effect from October 1, 2010. "Kohler would replace Kirby Adams, who has decided to step down from his executive roles and return to Australia after successfully restructuring and restoring the [...]

Activist faces brunt of steel magnate’s fury

Activist faces brunt of steel magnate’s fury

Till Wednesday morning, Ramesh Agrawal was deluged by congratulatory messages. By noon, he started getting calls of concern. As the calls accelerated in the afternoon, the environmentalist did what comes naturally to him: he filed an RTI application asking for details of the FIR the Jindal group had lodged against him. Jindal Steel and Power [...]

POSCO project remains grounded on betel vs steel fight

POSCO project remains grounded on betel vs steel fight

It is now the betel leaf farmers of a cluster of villages around Paradip in Orissa who now stand in the way of the Indian footprint of a global steel behemoth. Five years back when South Korean chaebol POSCO signed an MoU with Orissa government to set up a Rs 51,000 crore mega project near Paradip, scarcely did it anticipate the trouble it [...]

Oil price-hike may have push inflation higher: JSW Steel

Oil price-hike may have push inflation higher: JSW Steel

Higher fuel prices, means higher transportation costs and maybe even higher interest rates. How's corporate India reacting to that? Seshagiri Rao, Joint MD and Group CEO of JSW Steel said in an interview to CNBC-TV18 that oil price-hike will have a cascading impact pushing the inflation further. Here is the verbatim transcript of his comments [...]

Krakatau gets more shares in venture with Posco

Krakatau gets more shares in venture with Posco

After prolonged negotiations, state-owned steel maker PT Krakatau Steel has finally secured a bigger portion of ownership in a joint venture with Korea’s PT Pohang Steel Iron Corporation (Posco). State-Owned Enterprises Minister Mustafa Abubakar said Krakatau would control 45 percent of the planned steel plant in Tangerang, Banten, with the [...]

Posco finds new friend, Swain lends his party’s support to steel project

Posco finds new friend, Swain lends his party’s support to steel project

BHUBANESWAR: Newly formed political outfit Utkal Bharat on Friday accused the Bharatiya Janata Party of practicing “double standard” with regard to establishment of Posco steel project in Orissa. Former BJP MP and Utkal Bharat president Kharavel Swain said the BJP was creating confusion about the Posco’s Rs 52,000-crore foreign direct [...]

China to invest in Mozambique coal

China to invest in Mozambique coal

China has deepened its interest in Mozambique's natural resources, agreeing to invest $1bn in a coal project. Wuhan Iron and Steel, one of China's biggest steel producers, will spend $200m (€163m, £134m) on an 8 per cent share of Riversdale, a listed Australian company developing coalfields in Mozambique's Tete province. Wuhan will commit an [...]

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