Reliance to invest in NexWafe as strategic lead investor
NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries has invested EUR 25 million in German solar wafer maker NexWafe GmbH to use the firm’s technology to set up giga-scale wafer manufacturing facilities in India. “NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (Reliance) […]
Reliance, Saudi Aramco discuss cash and share stake deal: Report
NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries is reported to have held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm. Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the […]
False claims in Reliance’s affidavit in Punjab and Haryana High Court: Farmers’ body
NEW DELHI: Hours after Reliance approched the Punjab and Haryana HC against the damage to its cellular infrastructure and forcible closure of its stores, a pan-India farmers’ body said the affidavit filed by the firm in the court is full of “false” claims. The All-India Kisan Sangharsh Coordination Committee (AIKSCC), representing 250 farmers’ organisations in […]
Reliance, BP commit to pay for any shortfall in KG-D6 production to buyers
NEW DELHI: Reliance Industries Ltd (RIL) and its partner BP Plc of UK have committed to pay in cash for any natural gas volumes they are unable to deliver to customers from the next wave of discoveries in the eastern offshore KG-D6 block. According to draft gas sales and purchase agreement (GSPA) Reliance and BP […]
Reliance, BP announce first gas from Asia’s deepest project
NEW DELHI: Reliance Industries Limited (RIL) and BP have announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India. RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are […]
BPCL privatisation: Initial bids to close on Monday, all eyes on Reliance
NEW DELHI: Initial bids for privatisation of Bharat Petroleum Corp Ltd (BPCL) will close on Monday amid indications of supermajors UK’s BP Plc, Total of France and Saudi Aramco unlikely to bid. The government, which is selling its entire 52.98 per cent stake in India’s second largest oil refining and marketing company, had on four […]
Amazon flexes muscles but Reliance holds deep war chest
NEW DELHI: The face-off between Mukesh Ambani-led Reliance Industries Ltd (RIL) and Jeff Bezos-run behemoth Amazon over the retail assets of Future Group in India has once again exposed the ambition of the so-called “gatekeeper for e-commerce” to keep the reins of a growing retail market in the country in its hands. The legal battle […]
Reliance raises Rs 7,350 crore from GIC, TPG through retail unit stake sale
NEW DELHI:Reliance Industries Limited (RIL) on Saturday announced Rs 7,350 crore investments by Singapore sovereign wealth fund GIC and global private equity firm TPG Capital in its retail unit, taking the total fundraising in the last one month to Rs 32,197.50 crore. While GIC invested Rs 5,512.5 crore in Reliance Retail Ventures Ltd (RRVL) for […]
Google to invest Rs 33,737 crore in Jio Platforms
NEW DELHI: Reliance Industries Limited, Jio Platforms Limited (Jio Platforms) and Google LLC (Google) today announced the signing of binding agreements for an investment of Rs 33,737 crore by Google into Jio Platforms. This investment by Google values Jio Platforms at an equity value of Rs 4.36 lakh crore. Google’s investment will translate into a […]
Reliance rejig of media business makes Sony merger less likely: Experts
NEW DELHI: Reliance Industries’ move to consolidate its media and distribution businesses under one entity Network18 Media & Investments will create a cleaner structure and make the merger of entertainment channels with Sony less likely, experts said. Earlier this week, the company said it will merge its TV18 Broadcast business with Network18, and maintain the […]
Government must reduce reliance on bond markets, undertake divestment: Ex RBI Dy Gov
NEW DELHI: The Indian government needs to reduce its reliance on bond markets and undertake a heavy disinvestment programme along with urgently implementing land, labour and agricultural reforms, former RBI Deputy Governor Viral Acharya said. Speaking at a panel discussion at Columbia University here on Friday on the ‘Indian Economy: The Next Five Years’, Acharya […]
Reliance launches JioFiber
NEW DELHI: Jio, the world’s largest mobile data network, has today announced the commencement of JioFiber, its Fiber to the Home service, across 1,600 cities in India. With JioFiber, Jio continues to deliver on its promise of connecting the unconnected while bringing about transformational changes to Indian homes, that it started with its mobility service […]
Reliance, BP announce new joint venture to set up 5,500 petrol pumps
NEW DELHI: Reliance Industries Limited (RIL) and UK’s BP plc have agreed to form a new joint venture to set up 5,500 petrol pumps and retail aviation turbine fuel to airlines in India, said the two companies said on Tuesday. The companies ” have agreed to form a new joint venture that will include a […]
Reliance says its main gas fields in KG-D6 block in late life stage
NEW DELHI: Reliance Industries Limited (RIL) has said its flagship natural gas fields in the KG-D6 block in the Bay of Bengal are in “a late life stage” with output plummeting to an all-time low. The company, beginning mid-2020, will bring to production three sets of new discoveries in the block that will reverse the […]
Brookfield to invest Rs 25,215 crore in Reliance’s telecom tower arm
NEW DELHI: Canadian investment firm Brookfield Asset Management will invest Rs 25,215 crore in a trust that controls Reliance Industries’ telecom tower infrastructure assets, said the two companies on Friday. This is the second investment this year that Brookfield is making in a venture controlled by Reliance chairman Mukesh Ambani. In March, it had agreed […]
Anil Ambani to withdraw defamation suits against Congress, Herald
NEW DELHI: Anil Ambani’s Reliance Group has decided to withdraw the Rs 5,000-crore civil defamation suits filed in an Ahmedabad court against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal. The suits were being heard in the court of city civil and sessions judge […]