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  Russian forces on Thursday are grinding closer to taking a key Ukrainian city after days of intense fighting, tightening their slow squeeze on the eastern Donbas region. "Street fighting continues," said Luhansk regional governor Sergiy Gaiday on Telegram, pledging Ukrainian forces "will fight for Severodonetsk until the end". Russian forces engaged in Ukraine have dropped to a little over half of their pre-war strength as the war moves to a more attritional struggle, western officials said on Wednesday. “We started perhaps with a narrative from the Russians of sort of lightning war and we've now moved to a grinding, more attritional, struggle,” a western official said. “I think people's ideas of the amount of time for this [conflict] have changed."

 DAVOS, Switzerland: The president of the World Economic Forum has said the Geneva-based organization is sending a strong signal to Moscow by not inviting Russian officials and businesses to this year’s Davos summit while issuing an invitation to the Ukrainian leader to address the gathering. “When it comes to Russia, we chose not to invite Russian business or Russian officials because there are limits,” Borge Brende told Katie Jensen, the host of Frankly Speaking, the Arab News talk show which features interviews with leading policymakers and business leaders. Know More : https://www.arabnews.com/node/2087341/world

  ​ ArcelorMittal Nippon  Steel  India (AM/NS India), a joint venture between ArcelorMittal and Nippon Steel, reported a 16.62 per cent year-on-year (YoY) increase in EBITDA at $470 million in the March quarter, backed by sale of pellets from the newly commissioned pellet plant. The YoY EBITDA was higher even as crude   steel   production decreased by 5.2 per cent to 1.7 million tonne (mt) compared to 1.8 million tonne mt in the year-ago period. The company said that the contribution from external sale of pellets from the newly commissioned Odisha plant offset in part a negative price cost impact. The AM/NS figures were disclosed as part of ArcelorMittal’s Q12022 financial results; the global steel major follows a January-December fiscal year. In AM/NS India, ArcelorMittal has a 60 per cent equity interest. ArcelorMittal mentioned that plans to debottleneck AM/NS India’s existing operations (steel shop & rolling parts) and achieve 8.8 mt capacity by end 2023...

 Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, relying on organic growth at its existing sites Tata Steel Ltd will look to grow organically, and the steel giant is under no pressure to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said. Narendran said that the Jamshedpur-based behemoth will fuel its growth ambitions to more than double its output, relying on organic growth at its existing sites. Most of our growth in the last few years has been through the inorganic route (acquisitions). Currently, we are in a position where all our growth ambitions can be met through organic growth in our existing sites. We don't really need to acquire any new assets to grow (output) to 40-50 MTPA (million tonnes per annum) from the present level of 20 MTPA We will rely more on organic growth during this decade, Narendran told PTI in an interview.  Tata Steel had rep...