Monday, 23 May, 2022
TopicReliance

Topic: Reliance

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.

Amazon alleges $1.5 billion diverted from Future Retail, battle with Reliance rages on

A probe would risk delaying the planned takeover of Future Retail by Reliance, making it harder for Mukesh Ambani to increase his retail footprint.

On Camera

YourTurn

Inflation made luxury cars even more expensive but sales remain in fast lane. See Mercedes

For years, the luxury car market in India was biased towards the entry-level. But today, cars below Rs 40 lakh account for the smallest fraction of sales.

World’s $300 trillion in debt. Here’s what it means for services like health, education

To meet debt payments, at least 100 countries will have to reduce spending on essential services, the IMF estimates.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
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