reliance industries
Reliance buys Paramount’s stake in Indian media Viacom18 for $517 million
Mukesh Ambani’s Reliance is buying Paramount Global’s 13% stake in Viacom18 for $517 million as Asia’s richest man broadens his entertainment business just weeks after striking a multibillion dollars deal…
Ambani’s Reliance and Disney merge India media assets to form $8.5B joint venture
Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the world’s most populous nation. Reliance, which will control the joint…
Jio Financial says not in talks to acquire Paytm’s wallet business
Reliance Industries spinoff Jio Financial Services said Monday evening that it is not negotiating with Paytm to acquire its wallet business, quashing “speculative” media reports as the Noida-headquartered firm scrambles…
‘Sign from the Lord’: Sony tells Zee it’s terminating the $10B India merger
Sony called off the merger between its India unit and Zee Entertainment on Monday, ending a two-year acquisition deliberation that would have created a $10 billion media powerhouse in the…
Bank of America has pinned a $107 billion valuation tag on Mukesh Ambani’s Jio Platforms, valuing the Indian telecoms and digital conglomerate 64.6% higher than the $65 billion at which…
India’s fast-growing co-branded credit card market may soon see a new entrant: the country’s most valuable firm. Reliance is working with the state-backed lender SBI to launch two co-branded credit…
Ambani’s Jio Financial launches lending and insurance businesses
Jio Financial Services, the Indian conglomerate Reliance Industries-backed financial services firm, has started its lending and insurance businesses and plans to rapidly broaden its offerings as billionaire Mukesh Ambani expands…
Abu Dhabi sovereign-wealth fund invests nearly $600M in Reliance Retail at $100B valuation
Abu Dhabi Investment Authority is investing $597 million in Reliance Retail, valuing the largest Indian retail chain at a whopping $100 billion. The investment follows KKR and Qatar Investment Authority…
Reliance’s financial services unit to offer insurance, merchant lending
Jio Financial Services, the financial services unit of Mukesh Ambani-run Indian conglomerate Reliance Industries, plans to expand to merchant lending and insurance, Ambani said at Reliance’s annual general meeting in…
Reliance appoints Ambani’s children to board in succession plan
Mukesh Ambani will lead Reliance Industries for five more years and groom and mentor his children to take the $200 billion Indian oil-to-telecom giant to greater heights of growth and…
Reliance tests sound box payment system amid financial services push
India’s Paytm introduced the innovative sound box, a pocket-sized speaker designed to instantly validate and announce successful payments to merchants. It has deployed millions of these devices to the market,…
Qatar fund invests $1B in Ambani’s Reliance Retail at $100B valuation
Qatar’s sovereign wealth fund is investing $1 billion in Reliance Retail as India’s largest retail chain looks to expand its operations and enter new categories. The Qatar Investment Authority’s check…
Reliance spin-off Jio Financial Services slides on market debut
For years, the Indian market has been anticipating a public debut of Reliance Retail and Jio Platforms. But in a surprise move late last year, Mukesh Ambani, Asia’s richest man…
The Indian conglomerate Reliance is poised to outpace Amazon and Walmart-backed Flipkart in the race for the country’s $150 billion e-commerce market, analysts at Bernstein projected in a scathing report to…
India’s Jio says it has rolled out 5G to over 100 cities in 100 days
Jio Platforms said on Wednesday it has rolled out 5G to 101 cities in just as many days as the Indian telecom giant looks to court customers aggressively with faster…
Indian court agrees to send Future Retail into bankruptcy in another setback for Amazon
An Indian court on Wednesday ordered the initiation of insolvency process against Amazon’s estranged partner Future Retail in yet another setback for the American e-commerce group in the key overseas…
James Murdoch’s Bodhi Tree invests $1.78 billion in Ambani-backed Viacom18
The Indian conglomerate Reliance and Viacom18 have inked a strategic partnership with Bodhi Tree, an “investment platform” run by James Murdoch’s Lupa Systems and former Disney executive Uday Shankar, in…
Reliance Industries “cannot implement” its $3.4 billion deal to acquire core parts of retail chain Future Group after the latter’s secured creditors rejected the offer earlier this week, India’s most…
Amazon accuses estranged Indian partner Future and Reliance of fraud in newspaper ads
Amazon’s two-year effort to halt a $3.4 billion deal between its estranged partner Future Group and Reliance Retail took a new turn on Tuesday as tens of millions of Indians…
Reliance to invest $221 million for electronics manufacturing with Sanmina in India
Reliance Industries plans to invest up to $221 million in U.S. electronics firm Sanmina to set up a joint venture as the Indian giant looks to expand its electronics manufacturing.…
Future Retail, Amazon’s estranged partner in India, scales down operations
Future Retail, India’s second largest retail chain, is scaling down its operations to reduce losses, it said, the latest casualty in its years-long battle with estranged partner Amazon. The firm,…
Daily Crunch: Hackers leak names, personal details of donors to ‘Freedom Convoy’ protest
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MagniLearn uses AI to help students learn new languages, raises $2.8M
There’s nothing easy about learning a language, and so it’s also maybe no surprise that there are plenty of startups that want to make life easier for students. But while…
Reliance Retail acquires controlling stake in Just Dial for $469 million
Reliance Retail said on Friday it has acquired a controlling stake in 25-year-old Indian search and discovery firm Just Dial for $469 million. The Indian retail giant, which leads the…
Google and India’s Jio Platforms announce budget Android smartphone JioPhone Next
Jio Platforms, run by India’s richest man (Mukesh Ambani), and Google on Thursday unveiled the JioPhone Next, an affordable Android smartphone, as the top Indian telecom operator and the American…
Featured Article
Forget winning, can Amazon survive in India?
During a visit to India in 2014, Amazon chief executive Jeff Bezos made a splashy announcement: His firm was investing $2 billion in the South Asian nation, just a year after beginning operations in the country. Amazon’s announcement underscored how far India had come to open up to foreign firms. The nation, which had largely…
Indian stock exchanges approve $3.4B Reliance and Future deal in setback for Amazon
Indian stock exchanges on Wednesday approved the $3.4 billion deal between retail giants Reliance Retail and Future Group in yet another setback for Amazon, which has invested more than $6.5…
The Public Investment Fund, which has this year invested $1.5 billion in Mukesh Ambani’s telecom venture Jio Platforms and more than half a billion dollars in his fiber-optic business, has…
Reliance’s fiber-optic business raises $1 billion from ADIA and PIF
Reliance Jio Platforms, the telecom venture run by India’s richest man (Mukesh Ambani), had 405.6 million subscribers in the quarter that ended in September, becoming the first operator outside of…
Reliance, Future Group ignore Amazon protest on $3.4B deal
Reliance Retail, India’s largest retail chain, said on Sunday evening that its proposed deal to acquire Future Group’s assets for a whopping $3.4 billion — against which Amazon has filed…