The Economic Times
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| 03 December, 2020, 07:30 AM IST | E-Paper

    India to pursue twin goals of becoming economic and energy superpower: Mukesh Ambani

    Ambani, who is also the President of the Board of Governors of Gandhinagar-based Pandit Deendayal Upadhyay University (PDPU), said in his convocation address that he foresees an "explosive and exponential growth" in the Indian economy in the post-COVID era. The country will find a place in the top three economies of the world within a couple of decades, he said.

    India will be among top 3 economies in the world in coming decades: Mukesh Ambani

    "India has entered a crucial phase in the fight against COVID-19 pandemic. We cannot afford to let our guard down at this juncture," Ambani, who is also the president of the Pandit Deendayal Petroleum University (PDPU), said at the institute's eighth convocation. Ambani further said he sees "explosive and exponential growth" in the post-COVID era and asked the graduating students to venture out with hope and confidence without being anxious. Growth will create unprecedented opportunities and in the next two decades, India will be among the top-three economies of the world, he said.India will be among top 3 economies in the world in coming decades: Mukesh Ambani

    Why Amazon is feuding with a partner and billionaire Mukesh Ambani

    While Amazon, Future and Reliance await a verdict, the legal wrangling is threatening to unravel India’s biggest retail acquisition. But why is the world’s largest e-commerce company seeking to derail a deal that’s essentially bailing out a beleaguered retailer, whose market valuation is barely 2% of its own? Here’s what we know so far.

    Mukesh Ambani takes on Amazon in India's $200 billion market

    Reliance group’s JioMart – which only started this year and is still in the beta phase – has had delivery snafus and refund delays, and some users haven’t been shy about venting on Twitter. All that means winning big against Walmart and Amazon could take years.

    Mukesh Ambani versus Jeff Bezos: A fight or a waiting game?

    Amazon’s letter to Sebi makes a reference to India’s “ease of doing business,” which has been a sore point with foreign investors from Vodafone Group Plc to Cairn Energy Plc.

    ‘Big Brother’ Amazon targeted in fight with Mukesh Ambani over Kishore Biyani's Future

    If Future is allowed to renege on its contract with Amazon, it may signal to global investors that investments in India are risky, the U.S. company alleges.

    India enters crucial phase in fight against Covid; can't let guard down at this juncture: Mukesh Ambani

    The remarks come amid growing number of COVID-19 cases in certain pockets of the country, which has led authorities to re-introduce restrictions on movements like in the case of Ahmedabad and also mull restricting travel to cities like the national capital.

    Amazon set for face-off with Mukesh Ambani's RIL for India retail dominance

    Amazon drew the battle lines earlier this month when it accused Future of violating a contract between the two sides by agreeing to a buyout by Reliance. The deal would have been a bailout for Future, which faces another potential cash crunch as competition in the Indian retail space intensifies and the economy slows amid the coronavirus pandemic.

    Jeff Bezos vs Mukesh Ambani: Battle royale for India's retail crown

    Former Attorney General of Singapore, V.K. Rajah concluded the arbitration hearing on Friday, October 16, and will deliver his ruling on or before Monday, October 26, sources said.

    Working hard to transform India into a digital society: Mukesh Ambani

    He also went down the memory path and said how a push from his late father, Dhirubhai Ambani, towards new technologies, beyond a textile-led business house, led to the birth of Reliance Jio Infocomm (Jio).

    Azim Premji tops EdelGive Hurun India Philanthropy List 2020, Shiv Nadar & Mukesh Ambani follow

    The 4th spot was earned by Kumar Mangalam Birla, Chairman of Aditya Birla Group.

    Mukesh Ambani ranks as India's richest for 13th year in Forbes list

    Despite the coronavirus crisis, the 100 richest Indians got richer by 14 per cent at $517.5 billion, according to Forbes.

    Mukesh Ambani at Artificial Intelligence summit: Sound data regulation needed

    “We are confident that the government will introduce a sound new data regulation framework to ensure data privacy,” Ambani said at a global Artificial Intelligence (AI) summit, RAISE 2020, on Monday evening.

    Mukesh Ambani virtually joins Harish Salve's wedding celebrations, raises a toast to the newlyweds

    The RIL Chairman, in his toast, said that he looked forward to celebrating with Salve in-person soon.

    Mukesh Ambani earned Rs 90 crore every hour since lockdown

    Mukesh Ambani’s personal wealth rose by Rs 2,77,700 crore to Rs 6,58,400 crore, according to the IIFL Wealth Hurun India Rich List 2020.

    Jio-invested gaming company Krikey launches mobile game YAATRA

    "Krikey will inspire a generation of Indians to embrace Augmented Reality. Our vision is to bring the best experiences from across the world to India and the introduction of Yaatra is a step in that direction," said Akash Ambani, director, Jio. in a statement. "Augmented Reality gaming takes the user into a world of its own, and we invite every Jio and non-Jio user to experience AR through Yaatra," he added.

    Ambanis are now twice as rich as the second wealthiest family in Asia

    The pandemic had gutted the global economy and Mumbai-where the family lives in a 27-story skyscraper named Antilia-was in the midst of a surge in infections. But in the preceding weeks Ambani, 63, had struck deals with some of the world's leading tech giants to sell stakes in Reliance's digital unit. The next blizzard of fundraising announcements in his retail arm was just days away.

    Mukesh Ambani’s latest disruptor is a Rs 4,000 phone

    With over $20 billion dollars worth of investment in his kitty, Reliance head honcho, Mukesh Ambani is taking his Jio plans to the next level and developing the complete package including hardware.

    A $50 phone is Mukesh Ambani's weapon to dominate India's telecom market

    Reliance Chairman Mukesh Ambani is aiming to remake the country’s smartphone industry much like he did in wireless services, where his aggressive prices and simple plans quickly made him the dominant force.

    Jio's home broadband push only a limited threat to Airtel: Motilal Oswal

    “Jio’s aggressive push toward home broadband may pose only a limited threat to Bharti, given the segment’s single-digit contribution to the latter’s consolidated numbers,” Motilal Oswal said in a note.

    Mukesh Ambani has big ambitions for e-retail

    After making major deals during the lockdown - selling a 33% stake in Jio for just over $20 billion - Mukesh Ambani is making big plans for his e-retail business.

    Vistra ITCL invokes Future Retail shares

    The arbitrator had barred FRL from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.

    Abu Dhabi CEO Roundtable: Mukesh Ambani, IOC's Vaidya among world leaders to discuss post-COVID-19 economic recovery

    ​​World leaders will on November 11 "discuss critical issues facing the industry including how oil and gas companies are building resilience in response to COVID-19 and the role of the industry in the energy transition," Abu Dhabi National Oil Company (ADNOC) - the event organiser - said in a statement.

    Mukesh Ambani goes on a shopping spree

    It seems that nothing can hold back the fifth richest man of the world, Mukesh Ambani and his company Reliance Industries. After investing in startups like Haptik, Asteria Aerospace and NowFloats Technologies, this billionaire wants to invest in more startups. Here's a look at the startups Mukesh Ambani's company plans to invest in.

    Mukesh Ambani, the most hardworking businessman in the lockdown

    While the economy grapples with the fallout of Covid-19 and the harshest lockdown in the world, the Ambani raised more than $20 billion of investment for Jio Platforms — signing deals with blockbuster investors, including Facebook, Google, private equity firms like Silver Lake, and Abu Dhabi’s two largest sovereign investment arms, Abu Dhabi Investment Authority and Mubadala.

    Mukesh Ambani has been making Rs 90 crore an hour since the lockdown began

    Ambani's recent $20 billion fund-raising spree has already fulfilled his target of making RIL net-debt-free. This gives the tycoon unrivalled clout at a time when most other companies' balance sheets have been decimated by the pandemic. And if the number of companies seeking to hitch a ride with him is any indication, this clout is only set to rise.

    RIL's Jio Platforms receives Rs 33,737 crore from Google

    "We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, today received the subscription amount of Rs 33,737 crore from Google International LLC (a wholly owned subsidiary of Google LLC)," RIL informed BSE on Tuesday.

    Mukesh Ambani now wants to do a Jio with Reliance Retail

    Reportedly, Mukesh Ambani's RIL is planning to sell a 15 per cent stake in Reliance Retail Ventures for Rs 60,000-63,000 cr. As per an ET report, fresh shares will be issued to the investors and the company expects to complete the fundraise by October end.

    India set to double oil refining capacity in five years, says Modi

    Earlier, the energy minister was quoted as saying India's oil refining capacity could jump to 450-500 million tonnes in 10 years.

    PM Modi e-inaugurates 45 MW production plant of Monocrystalline Solar Photo Voltaic Panel

    Prime Minister Narendra Modi e-inaugurated 45 MW production plant of Monocrystalline Solar Photo Voltaic Panel at Pandit Deendayal Petroleum University on November 21. “Today, you are entering the industry at a time when due to the pandemic, major changes are taking place in the energy sector of the world. At this time, there are many opportunities for growth of entrepreneurship and employment,” said PM Modi at 8th convocation day of Pandit Deendayal Petroleum University. PM Modi further said, “Today, we are moving forward with the goal of reducing the country's carbon footprint by 30-35%. The efforts are on to increase the use of natural gas for energy needs by four times in this decade. In next five years, we’ll increase oil refinery production by two times.”PM Modi e-inaugurates 45 MW production plant of Monocrystalline Solar Photo Voltaic Panel

    From Mukesh Ambani to Gautam Adani, the top five on the 2020 Forbes India Rich List

    According to a report by IANS, amid the Covid-19 pandemic which hit India hard and led to a sharp economic contraction, half of the nation's 100 richest on the 2020 Forbes India Rich List saw gains. Their collective net worth rose 14 per cent to $517.5 billion from a year earlier, even as the benchmark BSE Sensex stock index remained flat from a year ago.

    It took older telcos 25 years to build 2G, and Jio just 3 years for 4G: Mukesh Ambani

    Ambani also emphasised the changes Jio brought in connectivity and data consumption. " India’s monthly data consumption went up from 0.2 billion GB to 1.2 billion GB… a growth of 600%... and data consumption has been multiplying ever since. Today, India consumes over 6 exabytes of data every month… more than 30 times pre-Jio levels, just four years ago," he said.

    BPCL cracks over 3% as RIL, other majors give bidding a skip

    Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the strategic sale, tweeted that the transaction advisors for the sale of government’s 52.98 per cent stake in Bharat Petroleum Corp Ltd (BPCL) have reported receiving “multiple expressions of interest.”

    Nation ready to promote AI for a Strong, Sustainable and Equitable New India: Mukesh Ambani at RAISE 2020 virtual summit

    Speaking at RAISE 2020 Virtual Summit, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani said if 1.3 billion Indians are digitally empowered then they will unleash a proliferation of new digital enterprises that will create faster economic growth, greater prosperity, high-quality employment opportunities and better standards of living across all sections of society. Watch!Nation ready to promote AI for a Strong, Sustainable and Equitable New India: Mukesh Ambani at RAISE 2020 virtual summit

    Mukesh Ambani is coming for India’s phones and wallets

    The oil-and-petrochemicals tycoon’s digital services startup requires him to dominate the use of mobile devices, while his retail chain, India’s largest, needs maximum grip on customers’ moneybags.

    With Jio in mind, Mukesh Ambani's RIL calls off merger of Viacom18, Sony

    Digital media and entertainment are now essential pillars of Jio’s business and it has consequently decided to retain a majority stake and management control, according to people familiar with the matter, who said Reliance would invest and grow its digital media business.

    Seven cheques and counting: GIC, TPG to invest about $1 billion in Mukesh Ambani's Reliance Retail

    Two more global funds Singapore’s GIC and US-based TPG together will invest Rs 7,350 crore into Reliance Retail Ventures Ltd (RRVL) to acquire around 1.6% stake in the company, Reliance Industries Ltd (RIL) said on Saturday. GIC will invest Rs 5,512 crore to purchase 1.22% in the holding company of Reliance Retail while TPG Capital Asia fund will pick 0.41% of stake for Rs 1,837 crore, valuing RRVL before the investment at Rs 4.28 lakh crore.Seven cheques and counting: GIC, TPG to invest about $1 billion in Mukesh Ambani's Reliance Retail

    Mukesh Ambani's Reliance Industries says GIC, TPG to invest about $1 billion in retail arm

    With these investments, Reliance Retail has collected a combined Rs 31,894 crore in the past few weeks from investors including US buyout firm KKR & Co, private equity giant General Atlantic, technology investment firm Silver Lake and sovereign wealth fund Mubadala.

    Private equity firm General Atlantic to invest Rs 3,675 crore in Mukesh Ambani's Reliance Retail

    This is General Atlantic's second investment in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.

    Mukesh Ambani keeps rising on the rich people rankings

    With a recent surge in his wealth, Asia’s richest man - Mukesh Ambani - has overtaken Warren Buffet in the global money rankings; he’s valued at roughly $75 billion.

    Mukesh Ambani tops Hurun India Rich list 2020; earned Rs 90 crore every hour since lockdown

    India’s richest man, Mukesh Ambani, has earned Rs 90 crore every hour since the March lockdown, suggests the IIFL Wealth Hurun India Rich List 2020. As per the yearly report, Ambani’s personal wealth rose by Rs 2,77,700 crore to Rs 6,58,400 crore, as he retained the richest Indian title for the ninth year running. Ambani’s wealth is now bigger than the combined wealth of the next five in the list.Mukesh Ambani tops Hurun India Rich list 2020; earned Rs 90 crore every hour since lockdown

    Mukesh Ambani tops Hurun India Rich list 2020, Radhakishan Damani debuts in top 10

    Radhakishan Damani, the founder of Avenue Supermarts, debuted in the top 10 wealthiest individuals ranking in the Hurun India Rich List 2020, at the seventh position.

    Amazon tells Delhi court that Singapore stay on sale of Future Group's assets binding in India

    Future Group’s lawyers said Amazon’s move to write to Competition Commission of India and SEBI were designed to put a spanner and to derail the purchase of the Indian group’s assets by Reliance Retail.

    Amazon asks Sebi to probe Future Retail for insider trading

    Future Group in August announced that it would merge five listed entities, including Future Retail, into Future Enterprises Ltd, which currently houses the group’s retail back-end infrastructure. The retail business would then be transferred to Reliance in a slump sale for nearly Rs 25,000 crore.

    Azim Premji is the most generous Indian as he donated about Rs 22 crore a day in FY20

    According to a report by PTI, IT major Wipro's Azim Premji donated Rs 22 crore a day or Rs 7,904 crore in a year to emerge as the most generous Indian in FY20 and top a list of philanthropy.

    Amazon and Mukesh Ambani’s Jio are spoiling for an epic India battle

    Jeff Bezos regards India as a key frontier for Amazon, particularly after failing to break into China. Now he faces a homegrown champion backed by some of his fiercest US rivals.

    Azim Premji donated Rs 7,904 cr in FY 2020, that's almost Rs 22 cr a day!

    With a donation of Rs 7,904 crore, Wipro founder-chairman Azim Premji and family topped the EdelGive Hurun India Philanthropy List 2020, followed by Shiv Nadar, founder chairman of HCL Technologies, and Mukesh Ambani, chairman, Reliance Industries.

    Mukesh Ambani is arming Reliance with monies from Google, Facebook, to take on Amazon

    While the Indian economy grapples with the fallout of Covid-19 and the harshest lockdown in the world, the Reliance boss raised more than $20 billion of investment for Jio Platforms — signing deals with blockbuster investors, including Facebook, Google, private equity firms like Silver Lake, and KKR, and Abu Dhabi’s two largest sovereign investment arms, Abu Dhabi Investment Authority and Mubadala.

    Mukesh Ambani gets Rs 7,500 crore from Silver Lake for 1.75% stake in Reliance Retail

    This is the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the $ 1.35 billion investment in Jio Platforms announced earlier this year.

    Mukesh Ambani slips two ranks, now seventh richest in the world

    Ambani’s net worth is valued at $78.3 billion, while Musk was sixth with a marginally high net worth of $78.6 billion.

    Telcos split over timing of 4G spectrum auction; Mukesh Ambani's Jio pushes for earliest date

    Telcos are split over when 4G spectrum auctions should be held. While Reliance Jio is pushing hard for the bidding to take place at the earliest, Bharti Airtel and Vodafone Idea (Vi) are in no hurry and would like the sale process to take place in 2021.

    Saudi Aramco-Reliance deal talks regain momentum, send RIL stock rising

    Sources told ET NOW that the deal is expected to be at similar valuations and could be adjusted for debt.

    Amazon nod must to recast Future Group's business: Singapore ruling

    While Kishore Biyani and the Jeff Bezos-led Amazon have locked horns in public over this issue, this is also impacting Future Retail’s store networks with many outlets reportedly seeing empty shelve

    Mukesh Ambani has just outdone Warren Buffett

    RIL promoter now world’s 7th richest with $69.9 billion net worth on Forbes real-time billionaires list.

    Mukesh Ambani's Reliance Industries breaks into top 100 global companies

    This is the highest any Indian company has been ranked on the Fortune Global 500 list. Reliance had broken into the top 100 in 2012 ranking when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, according to the ranking.

    RIL climbs nearly 3% as Saudi’s wealth fund buys 2.04% stake in RRVL

    This investment values RRVL at a pre-money equity value of Rs 4.587 lakh crore (approximately $62.4 billion).

    SAT asks RIL to pay Rs 447 crore plus interest

    On March 24, 2017, Sebi had barred RIL and 12 other entities from dealing in equity derivatives in the futures and options segment for a period of one year, directly or indirectly, for allegedly indulging in fraudulent trades in Reliance Petroleum Ltd (RPL) in 2007.

    After stalling Ambani-Biyani deal, transfer of Future Retail stake also stayed by SIAC

    Apart from putting the Reliance-Future Group deal on hold, the Singapore International Arbitration Centre (SIAC) in its interim order has also restrained Future Group from transferring or pledging any shares of Future Retail without Amazon’s permission.

    Mukesh Ambani eclipses richest European to become world’s No. 4

    Mukesh Ambani has already surpassed some of the biggest tycoons in recent weeks -- a list that includes Elon Musk and Alphabet Inc. co-founders Sergey Brin and Larry Page, as well as the so-called Oracle of Omaha himself, Warren Buffett.

    PM Narendra Modi to chair global investor roundtable on Thursday

    "All the major global investors, including sovereign wealth funds and pension funds of the world, would be participating. We have confirmation from such investors who would be participating in this virtual conference," Economic Affairs Secretary Tarun Bajaj said while sharing details of the event.

    Some of India’s biggest post-Covid money spinners hit valuation hurdle

    On an average, Adani group’s six listed entities have surged 76 per cent till date, while BSE benchmark Sensex has retreated 4 per cent.

    Rs 1 lakh crore gone! Ambani slips 3 places on global rich list: What spooked RIL stock?

    After Monday's sharp fall, Reliance is off 20.7 per cent from its record high of Rs 2,368 hit on September 16, but up 116 per cent from its March low.

    Mukesh Ambani keeps Carlyle Group and SoftBank waiting as RIL juggernaut picks pace

    According to a report by Bloomberg, investor demand for Reliance Industries Ltd.’s retail business is so strong that Carlyle Group Inc. and SoftBank Group Corp. are among those that have been put onto a waiting list, according to people familiar with the matter.

    RIL headed for 42% cut? Macquarie sees major downside post Q2 results

    Edelweiss Securities and Emkay Global Financial Services retained ‘hold’ ratings on the stock with a price targets of Rs 2,105 and Rs 1,970, respectively.

    Reliance Industries slips over 7% post Q2 results

    Revenue from the petrochemicals segment declined 23 per cent to Rs 29,665 crore and pre-tax profit dropped 33 per cent at Rs 5,964 crore.

    Amazon invested in Future Coupons to strengthen business, unlock value

    Amazon has also said the Future-Reliance transaction breaches the right of first refusal and non-compete clauses in its agreement with the Kishore Biyani-owned company.

    It took 25 years for older telcos to create 2G network, and Jio just 3 years for 4G: Mukesh Ambani

    Reliance Industries Chairman Mukesh Ambani said on Thursday that the Fourth Industrial Revolution presents a unique opportunity to create unprecedented value and prosperity for everyone in all spheres of life. "We built a world-class, all-IP, future-proof digital network that delivers the highest speeds and the best coverage across India. While it took 25 years for the Indian telecom industry to build its 2G network, Jio built its 4G network only in three years."It took 25 years for older telcos to create 2G network, and Jio just 3 years for 4G: Mukesh Ambani

    2G technology must be scrapped at the earliest: Mukesh Ambani

    “India still has 300 million mobile subscribers trapped in the 2G era, their feature phones keep them excluded even from the basic users of the internet at a time when both India and the rest of the world are standing at the doorsteps of 5G telephony,” Ambani said in a video message at an industry event marking 25 years of the sector. Jio recently entered into a commercial agreement with Google to jointly develop entry-level affordable 4G and possibly 5G smartphones in the future with an aim to make India 2G-mukt or free of 2G technology.2G technology must be scrapped at the earliest: Mukesh Ambani

    RIL Q2 results: Profit slips 15% as Covid hits sales

    Company cites bounce-back from June quarter, says demand has recovered in oil, retail businesses.

    Big Tech wants a bigger pie in India, but it just can't seem to bypass Mukesh Ambani

    Having seen multiple regulatory roadblocks thrown in their way, a tie-up with a powerful Indian ally has never looked more crucial for the world’s biggest internet companies. And no business person carries more heft in India -- known for its complicated bureaucracy and red tape -- than Ambani.

    RIL Q2 takeaways: Petchem, Jio outperform; but GRM disappoints

    Petrochemical, refining and oil & gas business performed handsomely, but showed some chinks in the armour as gross refining margin shrank, as did margins for many petrochemical products. These businesses, historically, have been the cash cow for the company.

    What does Mukesh Ambani eke out from each of his new investors? Less than $2 a month

    That $20 billion fund-raising spree has already met the refining and petrochemicals czar’s goal of making his flagship Reliance Industries Ltd. net-debt-free, giving it enviable financial strength just as the coronavirus pandemic is taking a toll on most other balance sheets.

    Bombay Stock Exchange to consult regulator on Future-Reliance deal after Amazon objection: Source

    Amazon on Oct. 25 won an injunction from a Singapore arbitrator to halt Future's deal to sell retail assets to Reliance.

    Mukesh Ambani's Reliance Industries to offer Amazon $20 bn stake in retail arm, claims Bloomberg report

    The news follows a $1 billion investment announced Wednesday by Silver Lake Partners in Reliance Retail, which runs more than 10,000 stores selling apparel, groceries and electronics across India.

    RIL Q2 results preview: Here's what to expect

    Mukesh Ambani-controlled Reliance Industries may report a drop in its performance from a year ago when it unveils its September quarter earnings on Friday. The company may, however, log a sequential improvement even though full-recovery to pre-Covid levels is yet to happen. Analysts will also wait and watch company’s take on the legal tussle between Amazon Inc and Future Group, which has put the RIL-Future Group on hold.RIL Q2 results preview: Here's what to expect

    All eyes on grocery etail as Ambani stares at a rival that can match him rupee for rupee

    With Tatas set to add to the crowd of deep-pocketed players already vying for the vast Indian market, the ground looks set for a no-holds-barred fight of many big players. Ambani's Reliance has already begun a strong push to capture grocery etail via its JioMart. Then there are Flipkart and Amazon who also have big plans for the grocery segment.

    Mukesh Ambani, a man on a mission

    Mukesh Ambani's total wealth climbed to $64.5 billion making him the ninth richest person in the world and the only Asian to get that honour. According to Bloomberg, Ambani overtook Larry Ellison of Oracle Corp. and France’s Francoise Bettencourt Meyers, the wealthiest woman, to reach the No. 9 spot.

    Future won’t legally challenge SIAC ruling on deal with RIL

    SIAC said FRL chains are unique and are of strategic importance and value to Amazon. Future Group has given no good legal reasons for affecting the sale of FRL’s retail assets behind Amazon's back and therefore ‘gravely compromising its interests’, it added.

    Mukesh Ambani is world’s fifth-richest person with $77 billion fortune

    Ambani cracked the group of the 10 richest people just last month. Two weeks ago, he surpassed Warren Buffett, now ranked No. 6. He overtook Elon Musk and Google co-founders Sergey Brin and Larry Page days later.

    Reliance Retail unlisted shares defy gravity, quadruple price in 10 months

    Reliance Retail has surpassed listed blue chips like HUL and HDFC Bank in terms of market cap. That’s when Reliance Industry itself is valuing its retail business at less than half the current price.

    In fight with Amazon, Future Retail sees liquidation if Reliance deal fails

    Over the weekend, Amazon won an injunction from a Singapore arbitrator to halt FRL's deal to sell assets to Reliance. Amazon alleged FRL had breached certain contract provisions it entered into last year in a separate deal with the American firm.

    Will ensure no delay in deal with RIL, says Future Retail

    Amazon indirectly owns a 5% stake in FRL — which houses all food and grocery stores such as Big Bazaar and Easyday — through a 49% stake in promoter holding firm Future Coupons that it bought for ₹1,500 crore last year.

    India retail war: A lot at stake in Amazon-Reliance fight over Future

    For the world’s most valuable retailer Amazon, it is important that it drags Future Group to court for breaching an international contract so that it does not set a precedent which could be used against it in other countries, said two persons aware of the developmen

    Future-RIL deal: Not abiding by SIAC ruling will hurt India as a FDI destination, say Amazon sources

    Future Group in a statement on Monday hinted that it is likely to challenge the order by Singapore-based arbitration forum against the Rs 24,713-crore RRVL-Future deal. Meanwhile, Amazon Sources said,"a fallacy the Singapore arbitration ruling not enforceable in India. It was also the only dispute resolution mechanism in the contract with Future. Not abiding by the Singapore arbitration ruling will hurt India as a FDI destination.” ET NOW's Nayantara Rai with more details! Future-RIL deal: Not abiding by SIAC ruling will hurt India as a FDI destination, say Amazon sources

    NSE-BSE bulk deals: Axis Trustee Services offloads 1.59 crore shares of Reliance Power

    Axis Trustee Services sold 1.59 crore shares of Reliance Power at Rs 3.38 per share.

    Ambani-Bezos tug of war weighs on Sensex; Rs 1.92 lakh crore gone

    Reliance Industries was the biggest drag on bluechip indices as investors dumped shares fearing it may not be able to complete the acquisition of Future Group assets.

    What’s in store for Reliance as Amazon-Future Group legal battle intensifies?

    Senior advocate ​HP Ranina said all the three parties - Reliance Industries, Future Group and Amazon - will try to sort out this issue as soon as possible.

    Kishore Biyani-led Future Group hints it may challenge arbitration award putting Reliance deal on hold

    The Kishore Biyani owned firm said relevant agreements are governed by Indian Law and provisions of Indian Arbitration Act and the matter raises several fundamental jurisdictional issues which go to the root of the matter.

    Amazon gets favourable ruling in Singapore; Future Group told not to proceed with Ambani deal

    The Singapore International Arbitration Centre (SIAC) passed an interim order asking Future Group to hold its sell-out plans to Reliance Group and wait for the final judgment on the plea filed by Amazon. Amazon had filed an arbitration petition with SIAC claiming that Future Group breached the contract under which the US online giant took an indirect stake in their retail business in 2019.Amazon gets favourable ruling in Singapore; Future Group told not to proceed with Ambani deal

    Amazon gets interim relief; arbitration panel says Future cannot sell business to Reliance

    Passing an interim award in favour of Amazon, V K Rajah - the sole arbitrator in the Amazon vs Future vs Reliance arbitration matter - has asked the Future group to put the deal on hold and said that the deal cannot go through until it finally decides the matter.

    RIL rolls back salary cuts, expedites performance bonus

    While the older business saw rough weather, those working in the telecom segment - Reliance Jio - have already received 100% of their variable payouts. However, RIL hasn’t yet decided on the hikes.

    'Imagine Mukesh Ambani going to Gorakhpur, meeting youngsters': Goyal urges business leaders to become mentors

    Commerce and Industry Minister Piyush Goyal on Thursday called upon the senior business leaders to become mentors, not only to their own family or businesses but also to the new-age and young entrepreneurs. He said, "I would appeal to them to allocate quality time, committed time for this. It will really encourage the youngsters... Imagine Mukesh Ambani going to Gorakhpur and meeting youngsters there, imgaine Uday Kotak going to Tiruchirappalli and meeting youngsters there... it can be inspirational".'Imagine Mukesh Ambani going to Gorakhpur, meeting youngsters': Goyal urges business leaders to become mentors

    RIL aims to become carbon zero by 2035, says Mukesh Ambani

    In its 43rd AGM, Chairman Mukesh Ambani outlined his long term vision for RIL’s energy business. WatchRIL aims to become carbon zero by 2035, says Mukesh Ambani

    Jio Platforms, Qualcomm successfully test 5G solutions, clock over 1 Gbps speed in trials

    The announcement follows through from the Reliance AGM 2020, where Chairman Mukesh Ambani announced plans for a 100 percent "homegrown 5G" network in India.

    Verdict on Amazon arbitration plea over Rs 24,713 cr Future-RIL deal expected in few days

    A one-man arbitration panel heard the plea of Amazon and Future Group last week and a verdict is expected in a few days, according to sources.

    Amazon's arbitration ruling expected on or before 26 October in Singapore

    Amazon Vs Future Group: Emergency hearing in Singapore on Friday Oct 16. Arbitration ruling expected on Oct 26; crucial for sale of Kishore Biyani’s Future Retail to Mukesh Ambani’s RIL. Here's Nayantara Rai with the details!Amazon's arbitration ruling expected on or before 26 October in Singapore

    Kishore’s cousin may script retail re-entry of Biyanis

    But the deal has hit a roadblock with Amazon approaching an arbitration body in Singapore, claiming that Future Group has breached contractual obligations by excluding the e-tailer from discussions.

    Mukesh Ambani bags second cheque for Reliance Retail in two weeks. KKR invests Rs 5,500 crore for 1.28% stake

    KKR is making its investment from its Asia private equity funds. The transaction is subject to regulatory and other customary approvals.

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