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ArcelorMittal's Essar bid delays planned JV with SAIL: Minister

Thursday, January 24, 2019, 7:53 AM

ArcelorMittal's prolonged bid to buy debt-ridden Essar Steel is delaying world's biggest steelmaker's joint venture with state-owned Steel Authority of India Ltd (SAIL), India's steel minister and SAIL's chairman said. India's biggest state-owned steel company SAIL and billionaire Lakshmi Mittal-controlled ArcelorMittal signed a deal in May 2015 to set-up a steel-plant to produce automotive grade steel. However, no timetable has ever been set out.
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RCoM says will not be paying Rs 375 cr to NCD holders

Thursday, January 24, 2019, 7:17 AM

Debt-ridden telecom firm Reliance Communications on Wednesday said it will not be paying the fourth installment of Rs 375 crore principal amount on non-convertible debenture, which is due on February 7. In a regulatory filing, the company said it is working expeditiously to complete the process of asset sale, which is likely to be completed by end-March 2019.
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Govt wants drone makers to install safety hardware to avoid accidents

Saturday, January 19, 2019, 12:11 PM

The government has reportedly asked drone manufacturers to install safety chips for switching off drones remotely to avoid mishaps. This was reportedly suggested in a meeting with the MoS Civil Aviation Jayant Sinha at the Global Aviation Summit. The suggestion was followed by discussions on events involving drones, like the closure of London's Gatwick and Heathrow airports over drone sightings.

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