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Journalism of Courage
ArcelorMittal in JV talks with BHP
NEW DELHI: The worlds largest steel maker ArcelorMittal and mineral giant BHP Billiton are in initial talks to combine their iron ore interests in two African countries Liberia and Guinea into a joint venture. ArcelorMittal announces it has entered into initial discussions with BHP Billiton to potentially combine our respective iron ore mining and infrastructure interests in Liberia and Guinea within a joint venture, ArcelorMittal said.
ComMin wants rate cut on export credit
NEW DELHI: The commerce ministry wants the Reserve Bank to reduce interest rate for dollar credit in its forthcoming monetary policy to help sustain the fledgling recovery in the exports sector. We are expecting that the Reserve Bank will bring down the interest rate for export credit in its quarterly credit policy review, a ministry official said.
Dubais Bollywood theme park delayed
DUBAI: Plans for a multimillion-dollar Bollywood theme park that was to be the hub of Indian cinema in the region,have been put on the back burner for at least two years. The first of its kind Yash Raj entertainment district project,whose exact location was never revealed,has fallen victim to economic conditions,according to reports.
Indian firms see 475 mn VC funding
NEW DELHI: Venture Capital investment in Indian companies slumped 43 per cent to 475 million around Rs 2,200 cr in 2009,but analysts hope that the fund raising would pick up in the coming months. Venture capital VC firms invested 475 million over 92 deals in India in 2009,the data compiled by Venture Intelligence in association with Global-India Venture Capital Association showed.
Indigos additional flights start today
CHENNAI: Low cost airliner IndiGo Airlines,on Tuesday announced it would operate additional flights on the Delhi-Chennai and Mumbai-Chennai sectors from tomorrow. The flight on the Delhi-Chennai route would be the fourth in that sector,while two daily non-stop flights would be operated on the Mumbai-Chennai sector,it said.
Mumbai airport sees highest-ever traffic
MUMBAI: On the back of an upswing in the domestic economy and demand for air travel picking up,Mumbai airport recorded the highest passenger traffic ever in December. Mumbai airport,which had lost its busiest airport tag to Delhi airport for a while,seems to have regained its top position again by carrying 2.53-million passengers in December 2009.
Oberoi setting up project in Mauritius
New Delhi: Oberoi Hotels has said it is setting up a project in Mauritius that will include villas and a hotel and is expected to be completed in the next three to five years. We are developing a cliff top project in Mauritius, it said.
