Monday, 27 June, 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

Free power & no new taxes in AAP govt’s Punjab Budget, but fiscal consolidation roadmap missing

Finance Minister Harpal Singh Cheema emphasised improving ‘fiscal health’ and augmenting tax revenues in AAP govt's maiden Budget Monday, but outstanding debt expected to rise by 8.4%.

Defence

The Indian Air Force logo | Commons

Almost 4,000 enrol for IAF’s Agnipath recruitment scheme on day 1 of online registrations

These registrations pertain to the Indian Air Force's Agniveer Vayu programme. The online portal for the first phase was opened at 10 am Friday, and will close on 5 July.

With Agnipath, Modi govt’s shock & awe doctrine may have misfired a vital reform, yet again

Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.
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