Mittal to be awarded 2007 Eisenhower Global Award
Lakshmi Mittal, chairman and chief executive officer of the Mittal Steel Company, will receive the 2007 Dwight D. Eisenhower Global Leadership Award by the New York-based Business Council for International Understanding.

Since its inception in 2003, the award has been given to business executives who make outstanding contributions to global commerce.

According to the Council, "Mittal has transformed the fragmented steel industry, turning it once again into a global force for good in communities worldwide. His sound business practices and resounding commitment to the communities in which Mittal Steel operates necessitates recognition."
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Orascom places Indian on HEL board
New Delhi: Egyptian telecom company Orascom, which has acquired a 19.3 per cent stake in Hutch Telecom International (HTIL), will have one resident Indian on the board of Hutch Essar (HEL) as part of the agreement between Orascom and HTIL, said Asim Ghosh, managing director of HEL.

The department of telecommunications (DoT) is taking a fresh look at the equity structure of HEL in view of the letter from national security advisor (NSA) MK Narayanan. The NSA letter said that Orascom's acquisition of equity in HTIL is a threat to national security as it is a dominant player in Pakistan and Bangladesh.

The new foreign direct investment (FDI) guidelines make it mandatory for telecom operators to take the government's approval for foreign equity participation in their ventures. The government will vet all the projects in the light of national security concerns. According to a government notification, all the operators have to meet the new FDI guidelines by July.
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