Skip to content
Search

Latest Stories

Vedanta's Sterlite Copper appoints new chief executive

VEDANTA Ltd today (15) named metals industry veteran Pankaj Kumar as Sterlite Copper chief executive, amid struggles to reopen its smelter in southern India that was shut after police killed 13 demonstrators protesting against the plant.

Kumar replaces P Ramnath, who led Sterlite for eight years. Under Ramnath, the smelter was ordered shut at least twice, including for an alleged gas leak in 2013.


"My tenure as the CEO has been an eventful journey, and as is the case with any journey, there have been numerous ups and downs," Ramnath, who will continue as an advisor to the company, said in a statement.

Kumar, who will also oversee operations at Vedanta's Malco Energy Limited and Fujairah Gold, has worked at Hindustan Zinc , Tata Steel and Adani Ports, in a career stretching over 29 years.

Kumar was also chief operating officer at Sterlite Copper in the past, the company said.

Sterlite Copper, which operates a 400,000-tonne-per-year smelter in the South India port city of Thoothukudi in Tamil Nadu state, was forced to shut its plant by Tamil Nadu state in May on alleged environment pollution grounds, and is estimated to have lost more than £150.86 million ($200m) since.

The chief executive replacement comes amid a drawn-out legal battle over the smelter that could be complicated further by federal elections that start on April 11.

The two main political parties in Tamil Nadu state are against reopening the smelter, increasing the likelihood that the shutdown will continue.

(Reuters)

More For You

Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Asda tech overhaul

Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)

AFP via Getty Images

Asda boss hails tech overhaul as key to revival despite sales slump

THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.

Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.

Keep ReadingShow less
JLR-Getty

A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)

Getty Images

UK car exports to US rebound after trade deal

UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.

According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.

Keep ReadingShow less
Relatives of jailed Briton appeal to UK minister in AgustaWestland row

Christian Michel

Relatives of jailed Briton appeal to UK minister in AgustaWestland row

THE family of Christian Michel, the British businessman accused of acting as a middleman in the AgustaWestland VVIP helicopter deal, has appealed to the UK government to push for his release from Delhi’s Tihar Jail.

Michel’s relatives met Foreign Office minister Catherine West in London on Tuesday (26). The Foreign, Commonwealth and Development Office (FCDO) said the minister listened to their concerns and updated them on ongoing steps being taken.

Keep ReadingShow less
Blackburn loses Issa empire as brothers move EG Group to US

Zuber and Mohsin Issa (Photo: LDRS)

Blackburn loses Issa empire as brothers move EG Group to US

ASIAN entrepreneurs Mohsin and Zuber Issa are moving the headquarters of their global forecourt company, EG Group, from Blackburn to the US in preparation for a major stock market listing in New York.

The firm confirmed that its main office will relocate to Charlotte, North Carolina, while a new base in Bolton, Greater Manchester, will handle its remaining UK operations, the Telegraph reported. The change brings an end to almost 25 years of the company being run from Blackburn.

Keep ReadingShow less