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BW Businessworld

News In Pictures: 15 April 2009

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DILLY DALLY: ArcelorMittal, the world's biggest steel group, may delay its planned $20 billion to $25 billion investment in India by at least two years from an earlier schedule. "What I can say is production is not coming up before 2014," Vijay Bhatnagar, the chief executive of ArcelorMittal India, said in New Delhi. ArcelorMittal had plans to build two steel plants in Orissa and Jharkhand to produce about 25 million tonnes of steel in total, but Chairman Lakshmi Mittal said last September the cost could rise by about a half due to delays in getting government approvals. (Reuters)


NEW CREDIT: Credit Suisse plans to set up its second back office in India by September and hire 350 staff by 2010 as it aims to reduce costs, the Swiss bank said on Wednesday. The new office in Mumbai will focus on investment analysis, risk and analytics modelling, it said in a statement. (Reuters)


SMART PHONE: Marketing Director of Nokia India, Vineet Taneja with models display the new Nokia E75 during its launch, in New Delhi on Wednesday. Just as the E71 broke new ground, the Nokia E75 is set to follow suit, cementing its unique place on the email and messaging scene as an ultra compact communicator. (PTI)