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India bankruptcy court had approved ArcelorMittal’s USD 6 billion bid for debt-ridden Essar on March 8. ArcelorMittal did not have any immediate comment. India’s bankruptcy court had approved ArcelorMittal’s USD 6 billion bid for debt-ridden Essar on March 8, potentially ending months of court battles and opening the sector to outsiders.On Friday, the Supreme Court halted ArcelorMittal’s payment while a bankruptcy appeals court - the National Company Law Appellate Tribunal - rules on various appeals in the case.“(The court) asked the parties to maintain status quo with respect to the March 8 order,” said a lawyer working on the case, referring to an order by India’s bankruptcy court, the National Company metric nut Suppliers Law Tribunal.

The lawyer, who was at the court when the ruling was made, did not wish to be named as he is not authorised to speak to the media.ArcelorMittal did not have any immediate comment. Essar Steel declined to comment.The rupee weakened by 0.3 per cent to 69.32 to the dollar following Friday’s ruling, on concerns of subdued dollar inflows.Essar Steel, with debts of 50.78 billion rupees (USD 725.38 million), was among the so called dirty dozen - twelve large steel and other infrastructure companies which defaulted and were referred to India’s bankruptcy court in 2017.The company became synonymous with the tardy pace of debt resolution by Indian banks saddled with billions of dollars of bad loans.When a new bankruptcy law was introduced in 2016 by Prime Minister Narendra Modi, it was seen by investors as a bold move which would ease lending pressure on banks and boost private investment.Local steel company JSW Steel Ltd, metals conglomerate Vedanta Ltd, Russian bank VTB and the erstwhile owners of Essar Steel had all tried to win the 10-million-tonne steel asset over the last two years.

In squeezing Nawaz, the court may anger the N-League base and that anger may carry the party to an electoral victory. Just small men fighting over a big prize. So if the legal vice can be applied by implausible judgements the legal vice can also be reversed by implausible judgements. But the PML(N) base is 15 million voters; the country is 200. It’s all politics, after all.That Nawaz can be chased off.The legal vice Nawaz is in may not reverse itself even if Nawaz wins his war with the boys. But just because Nawaz can’t walk away, doesn’t mean he knows what he’s doing. Why would Zardari preside over the collapse of the PPP outside its base in Sindh? What the hell is wrong with Imran?How the heck does Nawaz think he’s going to win this fight? Why is the court imperilling its credibility? Why didn’t the boys figure out how to get rid of Nawaz before trying to get rid of him?It’s nuts.Start with the boys. That all politicians are dilettantes or interlopers. But what the heck is up with Imran? He almost seems to want to make things more difficult for himself.That would be messy enough.It’s really three individuals, Nawaz, Imran and Zardari, and two actors, the boys and the court.Can Nawaz afford to walk away from it all? If you believe this is your life’s work, that the political empire you’ve built is your legacy, that becoming the greatest political leader in generations from Punjab is your identity, then how do you walk away from it all?It’s not a noble thing, it’s a possession thing. Not only does he not appear to have a winning political strategy, it’s not clear he’s interested in one.

That there is no hill they’re willing to die on.Crazy, corrupt or incompetent to you and me, to himself Zardari is the master survivor who understands the system and the percentages. Or, if you’re Imran, it’s belief. Or it could be both; a national malaise, the Pakistani condition.Keep scratching away though and you’ll start to find that each of the five are doing things based on their misperceptions of the others and perceptions of themselves.Finally, the court. It’s a seemingly sensible strategy, except for a foundational assumption. If you’re Imran, why would you change now?The PPP implosion under Zardari? Corrupt, incompetent, stubborn — or maybe, in his mind, crazy like a fox.Steer Nawaz towards the exit, take him to the threshold and, once it becomes obvious he has no other option, let him take the final step himself, turning his back on politics for good.By arrangement with Dawn. Because the boys can’t be disabused of their belief of what all politicians are ultimately all about, they couldn’t flip the question around. Fear of the gavel means it’s the hardest — harder than the boys even — to talk about it openly.Belief that the prime ministership is his destiny. Just a few sensible moves, a bit of application and he’d be the favourite by now. That they’re in it for the money or the lifestyle.The legal vice Nawaz is in may not reverse itself even if Nawaz wins his war with the boys. Former Prime Minister Nawaz Sharif (Photo: AP)

Those who propose travelling less are heading for a darker place. Airbus is also looking at hybrid-electric technology for future passenger aircraft generations.FLYING BATTERYThe aircraft, with a flattened profile and propellers at its wing tips, was designed as an electric plane from the ground up, said Omer Bar-Yohay, Eviation’s founder and CEO.Israeli startup Eviation has wheeled out Alice, a battery-powered nine-seater due for its maiden flight later this year.”Airbus is also looking at hybrid-electric technology for future passenger aircraft generations, but few would bet on its readiness to power the 200-seaters expected to replace the workhorse A320 jet family in the 2030s.On a single charge, Alice can fly 650 miles (1,046 kilometres) at 10,000 feet with a cruising speed of 276 miles per hour.“The impact of battery weight is an order of magnitude more severe for us,” said Stephane Cueille, Safran’s head of research, technology and innovation.But aerospace leaders are adamant that the answer cannot be fewer flights.Among signs of growing interest from traditional players, engine maker Rolls-Royce said on Tuesday it had bought the electric aerospace division of Germany’s Siemens - which is also one of the suppliers of motors to Alice.

Then you’re starting to get to the kind of economics and sustainability that’s closer to a bus than it is to aviation historically,” United Technologies Chief Technology Officer Paul Eremenko said during a panel discussion.5 per cent of the global total but are set to expand in step with emerging middle classes, especially in Asia. The additional thrusters or e-propellers also help stability, allowing a more streamlined airframe to reduce drag and consumption further.“We’ve got to make aviation grow and be sustainable,” Rolls-Royce CTO Paul Stein said during the same panel.But campaigners like Greenpeace transport specialist Sarah Fayolle say taxation and other regulation is warranted by the urgent need to slash emissions.Unlike cars, however, electric planes must heft their power packs aloft - a reality that limits them to small aircraft on the shortest routes, as even their proponents concede.UBS predicts demand for USD 178 billion in green aviation technologies by 2040 as they become more mainstream.

Like forests and oceans, soils also capture carbon, through the vegetable matter that decomposes in them.Nicolas Denieul plants his spade in the ground and turns over a clod of soil to reveal a mass of earthworms seething around plant roots — fat ones and thin ones, delicate translucent violet and dark b French farmer Nicolas Denieul shows earthworms in a wheat field in Piace, France. (Photo:AFP) Nicolas Denieul plants his spade in the ground and turns over a clod of soil to reveal a mass of earthworms seething around plant roots — fat ones wholesale carbon steel nut and thin ones, delicate translucent violet and dark brown. Ten years ago, I never thought I’d see anything like that!” said Denieul, a cheerful French farmer, his hands full of earth in the biting wind.. Instead of being released in the form of gases that contribute to global warming, carbon stocked in soil nourishes plants.

For 10 years ago, there were no worms roaming about his land, near the western city of Le Mans, where he grows wheat, corn and rapeseed to feed the 350 pigs he and his brothers keep. Back then his spade met smooth earth, empty of worms, insects and the other small organisms that signify a healthy soil.France’s agriculture ministry launched an international research programme on the subject this year, which 40 countries signed up to at the ongoing UN climate talks in Paris.“That is magnificent.4 percent a year in the level of carbon in soils would make it possible to stop the current growth of carbon dioxide — a major greenhouse gas — in the atmosphere, according to the French National Institute for Agricultural Research (Inra).End of ploughing On top of urbanisation and deforestation, soils around the world have suffered as a result of the intensification of farming since World War II. “We have massacred the soil” with bigger combine harvesters, deeper ploughing and chemical fertilisers and pesticides,” Mr Denieul said.An increase of 0