Gerhard Schroeder - A + A FRANKFURT (May 26): Gerhard Schroeder has backed off from taking a top role at Russian energy giant Gazprom, dealing a setback to Germany's gas lobby as it seeks to keep the energy lifeline from Russia open. The former German chancellor played a critical role in establishing the energy bond between the countries and defending it over two decades. Earlier this month, following a barrage of criticism, Russia's state-owned oil company Rosneft said Schroeder was stepping down from its board. On Tuesday, shortly after the European Parliament had urged his blacklisting, Schroeder said he would not take a nomination to Gazprom's supervisory board. Germany had also closed Schroeder's taxpayer-funded office amid a public outcry over Russia ties. It marks the end of a controversial career that had seen him forge a friendship with Russian President Vladimir Putin. Putin underscored Schroeder's importance as a guarantor for a cheap and steady … [Read more...] about Schroeder throws in towel as German industry clings on to Russian gas
Executive assistant to chairman
Narotam Sekhsaria: “I was determined to get ACC back on the rails in as short a period as possible”
Gujarat Ambuja Cements entered into a strategic alliance with Swiss cement giant Holcim in 2005. From the welcome he didn't get from the then Uttar Pradesh government to set up a cement plant, to 25 years of "steering Ambuja" and beyond, Narotam Sekhsaria's new book - The Ambuja Story - also offers a glimpse into the history of doing business in India. Sekhsaria is the principal founder and chairman of the board of directors of Ambuja Cement. Excerpted here is a section on how he and his team set ACC back on the course of recovery, after acquiring a stake in the company from the Tatas at the turn of the century. I had no time to rest and reflect. I was determined to get ACC back on the rails in as short a period as possible. We had to wrap up the rest of the ACC deal with the Tatas. Our agreement with the Tatas required that we complete our purchase of the remainder 7.2 per cent shares within one year. The bridge loan that we took for the first tranche of shares … [Read more...] about Narotam Sekhsaria: “I was determined to get ACC back on the rails in as short a period as possible”
Saudi deal to inject ‘billions’ into Thai economy
Thailand is to welcome a delegation from oil-rich Saudi Arabia in July which could potentially inject “billions” into the nation’s economy. Board of Trade of Thailand Chairman Sanan Angubolkul yesterday revealed delegations from both the private and public sector of Saudi Arabia are scheduled to visit the kingdom from July 4-7 to discuss trade and investment between the two countries. “This is a good opportunity to build mutual confidence in trade and investment. Thailand has the potential to become a hub in ASEAN for Saudi Arabian trade and investment. The Board of Trade is confident that Thailand is well prepared to serve as ASEAN’s hub after recent roadshows.” In January, Thailand and Saudi Arabia agreed to renew diplomatic relations after three decades when Thai PM Prayut Chan-o-cha paid an official visit to the Arabic nation and met with Crown Prince Mohammad bin Salman Al Saud. Sanan followed that trip in mid-May by leading a business delegation to Saudi Arabia for the … [Read more...] about Saudi deal to inject ‘billions’ into Thai economy