Category: News

Vedanta Resources to delist from London Stock Exchange

Vedanta Resources is set to delist from London after the family trust of Anil Agarwal agreed to buy the remaining 33.47% minority stake in the company in a deal that values the company at £2.325 billion. While the company sought to portray the development as a “natural progression,” the move will inevitably be seen amid pressure on the company following the events in Thoothukudi and calls from campaigners and Britain’s Labour Party for the company to be delisted.

In a statement on Monday morning the independent committee of Vedanta’s board — set up to evaluate the proposal — and Volcan, the holding company wholly-owned by Anil Agarwal’s discretionary trust, said they had agreed in principle on the key terms of a possible cash offer for the remaining share capital of Vedanta. The independent committee is set to recommend the offer to independent shareholders, and if accepted, the firm’s delisting could follow within 20 business days of that time. Read more

Courtesy: The Hindu

…तो एंटी क्लॉक चलने वाली घड़ियों से दूर होंगी दुनिया की समस्याएं!

आदिवासियों के मुताबिक जब तक दुनिया उनकी एंटी क्लॉक चलने वाली घड़ी नहीं अपनाएगी, दुनिया की समस्याएं दूर नहीं होंगी.

आपके घर या दफ्तर में जो घड़ी टंगी है, वो गलत है. आप की कलाई पर जो घड़ी बंधी है, वो गलत है. अब तक आप जिन घड़ियों को सही मानकर वक्त देखा करते थे, वो सब गलत हैं. ये दावा उस आदिवासी समुदाय ने किया है, जिन्होंने सालों पहले हमारी घड़ी को देखना बंद कर दिया है. उन्होंने घड़ी को उल्टा देखना शुरू कर दिया है, और उनकी माने तो उल्टी घड़ी से ही दुनिया का मंगल हो सकता है. Read more

Courtesy: News18 Hindi

China-led, India-supported AIIB funding hyper-inflated infra projects, promoting crony capitalism: Mumbai meet

A civil society-sponsored convention, concluded ahead of the high-profile AIIB (Asian Infrastructure and Investment Bank) board meet, to take place on June 25-26 in Mumbai, has sharply criticized the “China-led” international financial institution (IFI), insisting, it “rejects” AIIB claim that it “serves as a healthy and essential alternative to undemocratic IFIs such as the World Bank, Asian Development Bank and International Finance Corporation which are controlled by western powers.”

Held in Mumbai on June 21-23, a resolution adopted at the end of the convention said, “The design and structure of the $100 billion AIIB functions equally undemocratically. What is worse, it invests in projects without in any manner complying with necessary environmental and social safeguards. In the process, AIIB is doling out billions of dollars of loans to critical sectors such as energy, road building and urbanization causing extensive negative environmental and social impacts.” Read more

Courtesy: Counterview

Unresolved conflicts characterize environmental nod to 70 of 75 projects involving 7.28 lakh ha land: Study

A recent research study has said that of the “75 cases of conflict over land use change” involving 7,28,673 hectares (ha) “officially transferred through environmental clearance process”, in as many of 70 conflicts have remained unresolved even today. The projects have been chosen out of a list of environmental clearances granted to 14,498 projects, uploaded on the Union environment ministry’s website as of October 2017.

Most of the land use changes carried out for satisfying the demand for “developmental” needs relate to infrastructure expansion and industrial acceleration, and urbanisation. Read more

Courtesy: Counterview

NALCO revives bauxite mining proposal

Public sector National Aluminium Company (NALCO), which has bauxite mines and alumina refinery and smelter in neighbouring Odisha, has revived its proposal for bauxite mining and investment on aluminium complex in Visakhapatnam district generating a lot of interest among various circles. Read more

Courtesy: The Hindu

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