In a mailer to over two lakh employees of the oil-to-telecom conglomerate, the country's richest person said he was humbled to witness each one of them displaying extraordinary levels of commitment in battling most formidable adversity in modern history. In an internal note emailed on April 4, he informed of comprehensive COVID-19 tracking and treatment facility for all RIL staff.
Mukesh Ambani said the country has reasons to be more optimistic for the next decade.
The RIL Chairman already built the country's first COVID-19 hospital, and offered fuel to emergency vehicles carrying patients.
Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (Covid-19) outbreak on his employees and business, officials said. The oil-to-telecom conglomerate initiated a work from home protocol for its employees across the country and overseas in response to the evolving Covid-19 situation. This protocol will be effective until March 31.
The country’s richest family becoming the subject of a tax probe is unprecedented and has surprised many.
Mukesh Ambani, who personally held 72.31 lakh shares or 0.11 per cent of RIL, raised his holding to 75 lakh shares or 0.12 per cent.
Net worth of Reliance Industries’ Mukesh Ambani fell 28% to $48 billion in the last 2 months.
Jio had earlier last year signed a long-term alliance with Microsoft for the launch of new cloud data centres. Under the deal, Microsoft will bring in the Azure Cloud on the Jio Network targeting the enterprise and small business users who want to make a shift to a cloud technology infrastructure.
The fundraising would be done in tranches from time to time, on a private placement basis.
The restructuring will create a mega diversified media entity with interests in news, entertainment, internet, ISP and cable businesses that can compete with Zee Group, Bennett Coleman and Co Ltd, the publishers of The Economic Times, Sun Tv Networks, Sony among others. The boards of these companies met on Monday to clear the proposal.
“The discussion was about how Coca-Cola could come on board with Reliance for various sponsorships and furthering their retail association,” one of the officials said. “Typically, such associations drive higher footfalls for the retailer and in-store visibility for the brand.”
Shares of RIL on Friday ended at Rs 1,065.5, 0.86 per cent lower, on the BSE.
Ambani's special tribute to health service providers caught Pai's attention.
India is witnessing the growth of online fantasy sports leagues, quizzing and card games.
While talking to Microsoft's Satya Nadella, Ambani said that gaming could be the next big industry in India.
RIL has disrupted the energy and telecoms industry and could soon do the same to retail, fintech, and media.
The surge in Ambani’s fortunes this year was fueled by a 40% jump in the shares of his conglomerate RIL.
Behuria , who was the chairman of IOC between 2005-10, started his career with Burmah Shell in 1973, which was nationalized in 1976 and renamed as Bharat Petroleum Corporation, where he rose to the position of director (marketing) in November, 1998 and as Chairman & Managing Director, in July, 2002.
The nearly $19 billion fall in net worth for Mukesh Ambani was the fifth worst globally.
"The value of my investments has collapsed. I don't hold assets which can be liquidated,” Ambani said.
Jack Ma is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.
Akshay Kumar, DeepVeer and Big B also participated in #9Baje9Minute.
This stock rout has wiped off Rs 11.52 lakh crore of equity investors’ wealth on Dalal Street.
Washington in the past has put pressure on New Delhi to keep China's Huawei out of the India's 5G deployments. The Indian government, however, has allowed Huawei and ZTE, another Chinese company, to participate in 5G trials. New Delhi will take a separate call on allowing Huawei to participate in the commercial deployments of the next generation technoligy in India.
Mukesh Ambani-led Reliance group’s RIL and a microcap stock performed well.
In total, India got 34 new billionaires to take the count to 138 on the list.
According to the Hurun report, only 3 Indians are ahead of Kotak in the top 100 list.
"Great job you have done. Thank you," Trump told Ambani who briefed him about the RIL investment in the US and India business at the CEO roundtable event organised at the US Embassy here. "We are investors in the United States in the energy sector and have invested $7 billion towards that," Ambani told Trump who immediately replied: "$7 billion, yeah, big one."
Saying that India has transformed tremendously over the past two decades -- from a $300 billion economy in early 1990s to becoming a $3 trillion economy in 2020 -- Ambani stressed that India is on track to become one of the top three economies of the world.
Reliance Industries Chairman Mukesh Ambani on Monday said India is at the cusp of becoming a "premier digital society", and will be among the top three economies of the world.
Ratan Tata, chairman, Tata Trusts, said the Trusts and the Tata group together would contribute Rs 1,500 cr to fight the pandemic. Reliance Industries chairman Mukesh Ambani will contribute Rs 5 cr to the chief minister’s relief fund. Gautam Adani, chairman of Adani Group, said that Adani Foundation will contribute Rs 100 cr to the PM-CARES Fund
The scrip has fallen 28% in the current calendar year, making a $15.2 billion dent for Ambani.
"The current slowdown is temporary," Ambani said at the opening plenary of the third edition of Future Investment Initiative (FII) in Riyadh on Tuesday.
Reliance, controlled by billionaire Mukesh Ambani, has offered various grades of Middle East crude for sale in Asia's spot market, including grades such as Abu Dhabi's Murban crude and Qatar's al-Shaheen crude, four sources said.
The FT report said Google had also been talking to Jio separately, citing one of the people above. Microsoft had said last year that it would provide cloud-computing services to businesses along with Jio. India is the biggest market for Facebook with 328 million monthly users and the company’s WhatsApp messaging app has 400 million users in the country, also the most in the world.
PM Modi also urged corporate houses to contribute generously to the government’s coffers. He assured instant approvals for any regulatory permissions required for them to work towards fighting the disease, top officials said.
Facebook Inc is in talks to buy a multi billion dollar stake in Reliance Industries Ltd's telecom unit, the Financial Times reported on Tuesday, citing two people with knowledge of the matter.
Reliance Industries Limited (RIL) has set up India's first COVID-19 dedicated hospital in Mumbai. This first-of-its-kind-in-Indiacentre is fully funded by Reliance Foundation and includes a negative pressure room that helps in preventing cross contamination and helps control infection. All beds are equipped with the required infrastructure, biomedical equipment such as ventilators, pacemakers, dialysis machines, and patient monitoring devices. 101 positive COVID-19 cases have been reported in Maharashtra so far.Coronavirus news: Reliance sets up India's first COVID-19 dedicated hospital in Mumbai
The selloff has hurt everyone from smallest investor to the biggest billionaire equally hard.
We once again strongly deny any suggestion that any member of Mukesh Ambani family had or has any undisclosed foreign income or asset and that they failed to disclose the same: RIL spokesperson.
Azim Premji, who created headlines by announcing a USD 21 billion commitment to charity, is second in the Edelgive Hurun India Philanthropy List 2019.
Mukesh Ambani, who personally held 72.31 lakh shares or 0.11 per cent of RIL, raised his holding to 75 lakh or 0.12 per cent.
SC's directions come at a time when the top court is scheduled to hear the modification appeal filed by Vodafone Idea and other telcos on AGR dues, on Tuesday.
Till now, Jio has been depending upon 4G voice technology supplied by Oracle and Nokia. According to a company exec, Jio has already replaced Orclae and Nokia techs with its own in an effort to cut reliance on foreign third-party suppliers.
Piramal was seen engaged in a riveting fireside chat with Stephen Schwarzman.
The Mukesh Ambani-owned company has replaced Nokia’s and Oracle’s 4G voice technology with its own, a senior company executive said. The move is perhaps a global first, analysts said, where a mobile phone company has developed in-house technology to replace third-party equipment vendors.
SBI Cards IPO could have boundless prospects, or become a victim of arrested development.
SEBI has mandated to separate the roles of chairman and MD of all listed entitled by April 1.
Such a step by Reliance, which operates the world's biggest refining complex, and Nayara - part owned by Russian oil major Rosneft - would severely curtail purchases by one of Venezuela's last big export destinations. India accounted for about a third of Venezuela's oil shipments in January.
Mukesh Ambani has topped the list of richest Indians for the eighth consecutive year.
Talks are at a preliminary stage and may not result in a transaction, according to people familiar with the matter.
Mukesh Ambani-led Jio added a modest 82,308 mobile users, taking its subscriber base past 370 million in December, way below the 9.1 million and 5.6 million customer-adds reported by the company in October and November respectively last year.
The India-born top executive also highlighted that developers should work with diverse teams, so that "unconscious biases" do not creep into the models used for developing AI. According to Microsoft, there are about 4.2 million developers in India and the country is poised to become the numero uno destination for such talent in the coming years.
"We've been working with Reliance across the entire stack - everything from what they are going to be doing with Azure in their own data centres and how they will extend it... It's sort of a great example of a business leader and a company which is in very diverse sectors to take a platform approach, to use technology to create more technology," said India-born Nadella at the event in Mumbai.
Reliance Industries Chairman Mukesh Ambani on Monday said India has an opportunity to become a 'premier digital society', and it will be among the top three economies of the world. In this conversation with Microsoft Chief Executive Satya Nadella at the Future Decoded CEO Summit in Mumbai, Ambani said the big change driving this transformation is the deepening of mobile networks which are working at a much faster pace than before. Watch now. (Text: PTI)India can become premier digital society, Ambani tells Nadella at Microsoft event
Analysts though said it won’t be a cakewalk for either Airtel or Jio as they would need to invest top dollars in fresh spectrum resources to boost their respective network capacities to take on VIL’s customers.
A recluse to the core, Radhakishan Damani does not give media interviews or attend market-related events.
Airtel can easily raise Rs 40,000 crore by selling assets, while Voda Idea has no dearth of funds, he said.
Gautam Adani stormed into the top 5 with a total wealth of Rs 94,500 crore.
“It is clear that Ambani is not a titular chairman and is involved in running the company," a UK Court said.
Family businesses have earned 14% annualised returns between January 2017-2020 on the stock exchanges.
Billionaire Mukesh Ambani on Tuesday said the slowdown in the Indian economy is temporary and the recent measures taken by the government will help reverse the trend in the coming quarters. Speaking at Saudi Arabia's annual investment forum, also known as 'Davos in the desert', he said the reforms undertaken by Prime Minister Narendra Modi's government since August will bear fruits in the next few quarters.Slowdown in India temporary, reforms undertaken to reverse trend: Mukesh Ambani
Mukesh Ambani said the reforms undertaken by Modi govt since August would bear fruits in the next few quarters.
Aamir Khan and Siddharth Roy Kapur are also among the 10 Indians on the list.
A Mumbai Indians spokesperson confirmed of signing a three-year deal with Marriott Bonvoy, the loyalty programme for all the 30 hotel brands of Marriott International, while declining to share the financial details.
The lawsuit was filed by Chinese banks which argue that they provided a loan of $925 mn to RCom.
Reliance has invested nearly Rs 5.4 lakh crore over the last five years to generate EBITDA in excess of $1 billion annually for over a decade.
RIL is in talks with state governments and local bodies across the country for offering the technology.
According to Forbes' 'The Real-Time Billionaires List', Ambani's 'real-time net worth' stood at $60.8 billion on Thursday.
The comments from the UK India Business Council, lobby grouping, come after there was a sharp criticism of Goyal for saying Amazon was not doing India a favour by the investment announcement. India's GDP growth is set to slow to a decadal low of 5 per cent for 2019-20 and all eyes are set on the strategy deployed by the government in the upcoming Budget.
Aramco will now supply 500,000 barrels per day of crude on a long-term basis to RIL's Jamnagar refinery.
Ambani has kept salary at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum.
The petition states that telcos have “willfully” “disobeyed” paying their AGR dues by the January 23 deadline.
The move comes shortly after talks with the Tata Group made no headway.
On a year-to-date basis, Mukesh Ambani's wealth increased by $13.70 billion to $58 billion.
New Delhi wants nearly $21 billion in back license fees and spectrum usage charges, including penalties, interest.
US President tells India Inc to invest billions and promises to cut more regulation. Some industry leaders in attendance told Trump their companies are investing in the US. Trump responded to every investment commitment with fulsome praise. He also pegged reduction in regulations to his re-election.
Reliance was clarifying on reports Wednesday that said Ambani’s stake in the company has increased to 48.87% due to a scheme of arrangement.
ARPU is a key performance metric closely linked to the profitability in a capital-intensive sector like telecom where companies need to invest a lot on infrastructure.
Kotak said RIL transferred the treasury shares held by its subsidiaries to Reliance Services and Holdings.
Reliance Services and Holdings on Tuesday said that it has acquired 2.71 per cent stake.
The Indian business leaders discussed sustainable market initiatives with the British royal.
Mukesh Ambani-led Reliance Industries is unlikely to close the deal for 20 per cent stake in its oil to chemicals business to Saudi Aramco by March 31 this year, according to a senior company official.
Reliance Jio's Q3 profit surged 62% YoY to Rs 1,350 crore, while Arpu fell to Rs 128.40.
Total capitalisation of Jio Platforms stood at Rs 1,70,000 crore, Reliance said in a regulatory filing.
Oil-to-telecom major Reliance Industries (RIL) is expected to report a 10-14 per cent yearly rise in profit for the December quarter. Retail and telecom businesses may do well, but petchem business may show some weakness. Refining margins for the quarter are likely to stay in $9.2-9.6 range, analysts said.RIL Q3 results: Here's what to expect and factors to watch out for
Bezos faced opposition during his tour to India intended to underscore its importance as Amazon's growth driver.
The starry affair saw SRK and the Bachchans in attendance.
Addressing the audience and talking about his entrepreneurial journey, he said, “I had this idea and I knew that if I don’t try I would regret it. Last 25 years, what happened is beyond my expectation.”
The Ambanis and Bachchans were dressed in their festive best.
This portfolio management exercise by Mukesh Ambani, 62, is also about baby steps toward succession planning.
Mukesh Ambani's much anticipated fiber-to-the-home (FTTH) service is finally launched. JioFiber plan rentals will start at Rs 699 and will go up to Rs 8,499. The lowest tariff will start with 100 Mbps speed. Most tariff plans come with access to all the services.Launched on August 12, Jio Fiber will see its commercial rollout today. The service, which has the potential to alter the broadband landscape in IndiaReliance JioFibre: Mukesh Ambani unveils broadest range of plans
The growing power of India's middle class will help Ambani take on Amazon and Walmart Inc in the country.
India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under the Generalised System of Preferences, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering.
The meeting, a first after Shiv Sena chief Uddhav Thackeray became the Chief Minister of the state, saw industrialists like Mukesh Ambani, Ratan Tata, Adi Godrej, Anand Mahindra, bankers such as Deepak Parekh and Uday Kotak speaking on the steps required to give a boost to state’s growth.
Reliance Industries Ltd (RIL) on Friday said it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit. The new structure is similar to those adopted by tech titans globally, and will offer a compelling investment proposition to strategic and financial investors, many of whom have evinced strong interest in partnership, the company said in a statement, adding that this will also create the largest digital services platform company in India.Mukesh Ambani wants to make Reliance Jio "virtually net debt free" by March 31, 2020
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