Wednesday, 28 September, 2022
TopicReliance

Topic: Reliance

Apollo, Reliance make $6.3-billion binding offer to buy UK drugstore chain Boots

Walgreens Boots Alliance’s negotiations with Apollo and Reliance currently have the most momentum, said people in the know. Their proposal values Boots at more than £5 billion ($6.3 billion).

A creditor revolt scuttled Mukesh Ambani’s $3.2 billion deal with Future Retail

Debt-laden Future Retail's offshore bondholders were promised 100% payment in the rescue offer from Ambani but Indian lenders were asked to take a haircut of as much as 66%.

Mukesh Ambani scraps $3.2 billion deal with Future Group that set up clash with Jeff Bezos

Reliance’s decision to back out comes after almost two years of tortuous litigation in various courtrooms across India and Singapore that worsened the financial health of Future Group.

Why Mukesh Ambani is betting big on sodium in the EV battery race

RIL is in the middle of a Rs 6 trillion clean-energy push. So, it makes sense for Ambani to back a technology that’s as cheap as traditional lead-acid batteries.

Reliance’s profit surpasses estimates on back of festive season retail surge, shale sale in US

Launch of affordable 4G JioPhone & hike in mobile tariffs pushed profits during Oct-Dec 2021 quarter. Revenue from refining operations also improved with revived fuel demand.

Reliance buys New York’s premium luxury hotel Mandarin Oriental for $98.15 million

Set up in 2003, the 248-rooms-and-suites hotel towering over Central Park is an iconic luxury landmark located at 80 Columbus Circle.

Delhi HC dismisses Future Group’s pleas seeking termination of Amazon arbitration

In October 2020, Future Group had been dragged by Amazon into a legal battle at the Singapore International Arbitration Centre, over a deal with Mukesh Ambani's Reliance Retail

CCI slaps Rs 202 cr penalty on Amazon, suspends approval for deal with Future Coupons

This comes amid a bitter legal battle between Amazon and Future Group over the latter’s proposed Rs 24,713 crore-deal with Reliance.

Reliance forms $2 bn joint venture with Abu Dhabi firm for petrochemical plant in UAE

Abu Dhabi National Oil Co. and Reliance are looking to turn hydrocarbons into products that will help them tap consumer demand for plastics.

Anil Ambani’s Reliance Capital unraveling shows why RBI hates big business in banking

Reliance Capital joins a long list of Indian shadow banks that have keeled over since the sudden collapse of infrastructure financier IL&FS Group in September 2018.

On Camera

YourTurn

Illustration by Prajna Ghosh | ThePrint

78% of Indian abortions are outside clinics, even with a good law

Women have, and always will, need abortions. Our job as policymakers and programme implementers is to empower them to do so.
The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad | Reuters file photo

From ports to energy transition — Adani Group to invest over $100 billion in next decade

Speaking at Forbes Global CEO Conference in Singapore, Adani said the group intends to do more as a solar player & has earmarked 70% of the investment for the energy transition space.

Defence

Parts of Iranian made 'suicide' drone Shahed-136 after being shot down by the Ukrainian military | Reuters

All about Shahed-136, Iran’s ‘kamikaze’ drone that Russia is using to strike Ukraine

Over the past few days, Russia has hit multiple targets using these Iranian-supplied drones—including civilian structures and amenities—leading to the death of several Ukrainians.
Illustration by Soham Sen | ThePrint

AAP’s filling a big vacuum in Indian politics. Question is how long it can sustain without ideology

If you find admiration for AAP qualified, if not muted among many of the Modi-BJP’s critics, it is because they question it for its lack of ideological clarity. Especially on secularism.
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