Today : Tuesday - Sep 16, 2014, 05:01pm (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Gulf News
::| Latest News
News in Pictures

Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

France threatens to expel Arcelor Mittal for 'lying, disrespecting' country

Tuesday - Nov 27, 2012, 02:42pm (GMT+5.5)
[+] Text [-]

London - French authorities have threatened to expel steel giant Arcelor Mittal from the country, accusing the firm of 'lying and disrespecting' the country.

The firm, which is owned by India based Mittal Steel, angered workers and the French government when it announced a plan in October to close two furnaces at its steel plant in Florange.

It gave the government a grace period of 60 days to look for a new owner, the BBC reports.

The minister, who previously opposed the closure of a Peugeot factory, accused the company of 'overwhelming lies' and said the Florange closure breaks a promise made by chief executive Lakshmi Mittal during Mittal Steel's 26.9bn-euro takeover of Arcelor in 2006, which was strongly opposed by French ministers.

The problem "isn't the furnaces in Florange, it's Mittal", Arnaud Montebourg, the Minister of Industrial Renewal, told French business daily Les Echos..

According to the report, ArcelorMittal Chairman Lakshmi Mittal is expected to meet with President Francois Hollande on Tuesday to discuss the group's operations in France.

The talks come ahead of a deadline on Saturday, which Mittal gave the state to find a buyer for the two idled blast furnaces in Florange, a traditional steel town in north-eastern France.


Rating (Votes: )   

blog comments powered by Disqus

Other Articles:
Samsung announced sold over five million Galaxy Note II (27th Nov, 2012)
Microsoft's new tablet disappoints experts (27th Nov, 2012)
Sensex up 244 points; bank, capital goods stocks rally (27th Nov, 2012)
US retailers pull in nearly $60 bn over holiday weekend (27th Nov, 2012)
Brazilian firm to produce cigarettes in Cuba (27th Nov, 2012)
Kamal Nath, London mayor discuss urban issues (27th Nov, 2012)
Jharkhand requests PM not to cancel state firm's coal blocks (27th Nov, 2012)
Chopper used by village poll contestant (27th Nov, 2012)
Ford India to expand distribution, service network (27th Nov, 2012)
SAP woos students to promote entrepreneurship (27th Nov, 2012)
BSP demands president's rule in UP (27th Nov, 2012)
Tata Elxsi unveils incubation centre for start-ups (27th Nov, 2012)
Indian team in Nigeria for tie-ups in electronics,IT sectors (27th Nov, 2012)
ONGC to tie up with ConocoPhillips for shale gas in India (27th Nov, 2012)
Ethiopian delegation visits Kerala's Technopark (27th Nov, 2012)
India, China hold economic dialogue, ink 11 pacts (27th Nov, 2012)
Thinksoft felicitates its cadre of specialists (27th Nov, 2012)
Patel agreeable to import duty cuts on luxury cars from EU (27th Nov, 2012)
West Bengal’s orange producers find lucrative market in Bangladesh despite hindrances (26th Nov, 2012)
SpiceJet to start three new international services (26th Nov, 2012)
Sensex up 30 points; metals, consumer durables stocks gain (26th Nov, 2012)
New Zealand to help Himachal in apple cultivation (26th Nov, 2012)
Google conducting workshops for educators for first time ever in India (26th Nov, 2012)
Lanco Infratech to raise $2 billion from Chinese banks (26th Nov, 2012)
Lab in Hyderabad to test and grade diamonds and jewellery (26th Nov, 2012)

Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use