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Paris, <keyword id="20030395" type="General" weightage="20" keywordseo="ArcelorMittal" source="keywords" meta.keywordsubtype="org" meta.entityname="ArcelorMittal" meta.hostid="261" meta.entityid="ArcelorMittal">ArcelorMittal</keyword>, the steel major owned by Indian entrepreneur <keyword id="20195734" type="General" weightage="20" keywordseo="Lakshmi-Mittal" source="keywords">Lakshmi Mittal</keyword>, is showcasing the various facets of its <keyword id="22405378" type="General" weightage="20" keywordseo="low-carbon-steel" source="keywords">low-carbon steel</keyword> partnership with the Olympics and Paralympics, kicking off in Paris later this month. The Luxembourg-headquartered company revealed this week that its recycled and renewably-produced <keyword id="22405379" type="General" weightage="20" keywordseo="XCarb" source="keywords">XCarb</keyword> is behind the Torches that have been touring the world, the <keyword id="21892224" type="General" weightage="20" keywordseo="Olympic-Rings" source="keywords">Olympic Rings</keyword> that now adorn the French capital's iconic Eiffel Tower landmark and the Agitos symbol of the Paralympics atop the city's Arc de Triomphe. The <keyword id="20260077" type="General" weightage="100" keywordseo="Paris-Olympics-2024" source="keywords" meta.keywordsubtype="org" meta.entityname="Paris Olympics 2024" meta.hostid="261" meta.entityid="Paris Olympics 2024">Paris Olympics 2024</keyword> is also setting a new milestone by reusing the Torches for the first time, with a significantly reduced carbon footprint with the production of just 2,000 required as opposed to 12,000 in the past. "We think the Games are about sport, but they transcend sport," Ian Louden, the Head of Brand for ArcelorMittal, told reporters in Paris. "They go over and above sport itself, trying at least to bring together the world on a platform of equality and peace and shared belief. For example, for the very first time in Paris 2024, there are equal numbers of male and female athletes. As a leading global industrial company, we think this is exactly the kind of event in society that we should support," he said. The company previously tied up with the London 2012 Olympic Games, resulting in the ArcelorMittal Orbit designed by celebrated British Indian artist Anish Kapoor. The Paris Games, opening on July 26 and running until August 11, involves the firm providing the steel and manufacturing knowhow for the Torch, designed by French artist Mathieu Lehanneur, and what is collectively referred to as the "Spectaculars" - the Olympic Rings and the Agitos - a project masterminded by engineer Professor Pierre Engel. "This is the work of a big team, from the production of the steel in Chateauneuf in Burgundy to the lifting of the rings involving about 200 people," said Professor Engel. "We had to face several challenges and the first one was to decide the position, then imagine innovative lighting and, of course, the safety of a project involving such iconic landmarks of Paris," he said. Engel and his team worked at pace over the course of 18 months with a retired Army man in charge of keeping the timelines to military precision. "We could not risk any drifting timelines associated with the construction industry with this project, with the date of the Games a definitive finishing line," noted Engel. Measuring 29 metres wide by 15 metres high, and positioned approximately 84 metres off the ground, in between the first and second floors of the Eiffel Tower, the Rings appear in their coloured form of red, blue, green, yellow and black - depicting the five continents of the world. At night, they are lit up in white "because you cannot light black", explains Engel. The Agitos, meanwhile, depicted in red, blue and green, are lit up in colour 24/7. "Being an official partner of the Paris 2024 Olympic and Paralympic Games and supplier of the Torch gives ArcelorMittal an incredible opportunity to showcase the beauty, flexibility and potential of steel," said CEO Aditya Mittal. The company's XCarb products are made via the electric arc furnace route, using high levels of scrap steel and 100 per cent renewable energy. This means the carbon footprint of such products can be as low as approximately 300kg of CO2 per tonne of finished steel. The 2024 Olympic project was executed entirely in France and involved giving new life to scrap steel from end-of-life cars and washing machines. The "Spectaculars" are expected to carry on their life well beyond the Olympic Games, with the city's Mayor wanting to keep them atop the landmarks at least till the end of the year and a second life expected for the next set of Games in France. Meanwhile, Paris is busy getting spruced up for a grand opening ceremony on July 26, when the Torch will make its way down the River Seine to the Olympic Cauldron at a closely guarded secret location in the French capital. "This global event, the most famous and engaging sports event in the world, resonates with the values that drive our group and all our employees around the world: the desire to constantly raise the bar; inclusion and diversity; and the quest for net zero, illustrated by the Paris 2024 ambition to limit its CO2 footprint," added ArcelorMittal Chairman Lakshmi Mittal.

ArcelorMittal showcases low-carbon steel tie-up with Paris Olympics 2024

If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

Strife At The Top: These
11 C-Suite Execs From India
Were ‘Let Go’ In 2013

New Delhi, Feb 5 () JSW Steel, which has plans to expand its capacity to 45 million tonnes per annum (MTPA), has bagged another iron mine in Odisha in the ongoing mine auctions with 118 million tonnes of reserves. JSW Steel won the largest iron ore block, the Nuagaon mine, in Odisha with estimated reserve of around 790 million tonnes (MT) on Friday followed by winning Narayanposhi iron block with 190 MT reserve on Sunday beating players like ArcelorMittal, Vedanta, Adani etc. "JSW Steel today (Wednesday) has won another mine Ganua. This is the third consecutive mine it has won with 118 MT at 132 per cent premium," an industry source said. Another plus point for the company is that all these mines are operational, the source said. Securing iron ore linkages in Odisha was very important for JSW Steel as the company is planning a green field steel project of 12 MTPA in the state at an investment amount of over Rs 53,000 crore. With bagging of Ganua mine, the Sajjan Jindal-led steel company firm now has an assured linkage of over 1,100 MT iron ore reserves in Odisha to met its future needs in the state and elsewhere. "All the three wins will give JSW Steel around 25 MTPA of captive iron ore for its plants. Also, it has won 6 category C- Mines in last year in Karnataka which are now fully operational providing another 7-8 MTPA of iron ore," according to an expert. After the annulment of three notices inviting tender (NIT) in October 2019 for auction of iron ore and manganese blocks because of conflicts between participating bidders, the Odisha government released an NIT for 20 iron ore and manganese blocks on December 6, 2019. While 15 of the 20 mines to be auctioned predominantly have iron ore, three have both iron ore and manganese, while the remaining are primarily manganese reserves. The 18 mines containing iron ore reserves together hold 1,600 million tonne of which 33 per cent (five mines) are reserved for specified end-use (captive usage). These are old mines where leases are set to expire in March 2020. ABI MKJ

JSW Steel bags third iron ore mine in Odisha

New Delhi, Feb 2 () JSW Steel has bagged two iron ore mines with a total reserves of 980 million tonnes in the auction in Odisha, a source said.
The company won Narayanposhi iron block with 190 MT reserve on Sunday, according to the industry source.
Others in the fray for this iron ore mine include Arcelormittal Mittal India Pvt Ltd, Vedanta, Tata Steel and JSPL.
On Friday, JSW Steel bagged the Nuagaon mine, which is the largest iron ore block in the auction in Odisha. It has a total estimated reserve of around 790 million tonne.
Both the mines are operational and its leases were expiring in March.
JSW Steel at present has a capacity of 18 million tonnes per annum (MTPA).
"Both wins will give Jsw Steel around 22 mtpa of captive iron ore for its plants. Also, it has won 6 category C- Mines in last year in Karnataka which are not fully operational providing another 7-8 mtpa of iron ore," according to an expert.
Securing iron ore linkages in Odisha was also important for JSW Steel as the company is planning a green field steel project of 12 MTPA in the state at an investment amount of over Rs 53,000 crore.
After the annulment of three notices inviting tender (NIT) in October 2019 for auction of iron ore and manganese blocks because of conflicts between participating bidders, the Odisha government released an NIT for 20 iron ore and manganese blocks on December 6, 2019.
While 15 of the 20 mines to be auctioned predominantly have iron ore, three have both iron ore and manganese, while the remaining are primarily manganese reserves.
The 18 mines containing iron ore reserves together hold 1,600 million tonne of which 33 per cent (five mines) are reserved for specified end-use (captive usage). These are old mines where leases are set to expire in March 2020. ABI BAL

JSW Steel bags two iron ore mines in Odisha

New Delhi, Jan 19 () Following are the top business stories at 1840 hours:
 
DCM5 BIZ-DUTYFREE-ALCOHOL-SALE
Commerce min for restricting duty-free alcohol purchase to one bottle
New Delhi: The Commerce Ministry has recommended restricting purchase of tax-free alcohol to one bottle at duty-free shops as part of steps to reduce import of non-essential goods, sources said.
 
DCM32 BIZ-TAX-GARG
India may miss tax collection target for 2019-20 by nearly Rs 2.5 lakh cr: Garg
New Delhi: The government's tax collection is likely to fall short of its estimate by Rs 2.5 lakh crore or 1.2 per cent of GDP in 2019-20, former finance secretary Subhash Chandra Garg said on Sunday while calling for scrapping of dividend distribution tax.
 
DCM11 BIZ-COALAUCTION
Govt to stop substitutable coal import; can go for auction of 100 fully explored new blocks: Joshi
New Delhi: Union minister Pralhad Joshi on Sunday said the Centre will stop the "substitutable import" of coal in the next three to four years and can go for auction of 100 fully explored blocks. 
 
DCM26 BIZ-PULSES
Govt plans to extend urad imports till June on likely domestic shortage: Sources
New Delhi: The government plans to extend urad dal imports of up to 4,00,000 tonnes a fiscal for another three months till June this year in view of likely domestic shortages, according to sources.
 
FGN5 WEF-CURTAIN RAISER
Trump, Merkel and Imran to visit WEF@Davos; Over 100 Indian CEOs too present
Davos: As the rich and powerful from across the globe assemble this week in this Swiss ski resort town to discuss a 'cohesive and sustainable world', over 100 CEOs as also some union ministers and chief ministers from India would also be present alongside filmstar Deepika Padukone and Sadhguru.

DCM10 BIZ-TELECOM-AGR
DoT examining if Jan 23 legal deadline for AGR payment applies to non-telecom PSUs
New Delhi: The telecom department is examining the legal applicability of January 23 deadline for payment of over Rs 2.4 lakh crore statutory dues in the case of non-telecom PSUs which were not originally party to AGR matter in the Supreme Court, according to sources.

DCM15 BIZ-BUDGET-ATF
Govt considering specific excise duty on ATF
New Delhi: With no sight of including jet fuel in Goods and Services Tax (GST) in near future, the government is considering levying specific rate of excise duty on aviation turbine fuel (ATF) in place of current ad valorem rates to insulate its prices from cascading effect in times of volatile prices.
 
DCM19 BIZ-ODISHA-JSW-INVESTMENT
Odisha expects work on JSW steel proj to start soon after successful public hearing 
New Delhi: Odisha expects work on the proposed Rs 53,700-crore integrated steel project at Jagatsinghpur in Paradip by Sajjan Jindal-led JSW Group to start soon following successful conclusion of a public hearing, a state official said on Sunday.

DCM12 BIZ-VEHICLE EXPORTS
Passenger vehicle exports rise 6 pc in April-Dec; Hyundai, Ford lead the pack
New Delhi: Passenger vehicle (PV) exports from India increased by 5.89 per cent in the first nine months of the current fiscal, with Hyundai Motor leading the segment with dispatches of around 1.45 lakh units, as per the latest data by SIAM. RVK

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ArcelorMittal showcases low-carbon steel tie-up with Paris Olympics 2024

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Strife At The Top: These 11 C-Suite Execs From India Were ‘Let Go’ In 2013

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JSW Steel bags third iron ore mine in Odisha

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JSW Steel bags two iron ore mines in Odisha

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