Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
The order, which set aside the August 9 ruling of a single-judge bench, prevented the group entities from publishing the voting results of the last AGM. However, the firms will now be able to execute decisions taken at the AGM last year. People in the know said the Birlas would appeal against the order in a higher court.
It's mostly fun and games at annual general meetings of companies, but sometimes it is also a bit ugly. . .
"I don't think that it is government's view that the present inflation cannot be brought under control without FDI in multi-brand retail. We can bring inflation under control," Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
Skipper Mahendra Singh Dhoni was hurt while batting in the nets at the WACA ahead of India's cricket World Cup league match against the United Arab Emirates on Saturday.
SpiceJet, the low-cost air carrier, on Thursday got its shareholders' approval to issue additional equity shares to promoter Kalanithi Maran, who in turn will infuse Rs 130 crore (Rs 1.3 billion) into the airline. Maran's equity holding would go up from 38 per cent to 43 per cent of the company's shares.
Amid media reports that Sunil Gavaskar is dropped from the Indian Premier League's Governing council, BCCI president Shashank Manohar clarified that a decision on the former India captain being retained is yet to be taken.
Lalit Modi's fall from grace was complete on Wednesday when he was ousted from the Board of Control for Cricket in India, which revealed more financial irregularities by him.
The government was put on the Wall of Shame at the annual general meeting of the International Air Transport Association in Singapore, along with the European Union Parliament and the governments of the UK, Germany and Austria, for imposing high taxes on air travel.
Shashank Manohar and N Srinivasan on Tuesday retained unopposed their posts of Cricket Board president and secretary respectively with the closing of nominations ahead of Wednesday's 81st AGM.
SBI chief Rajnish Kumar said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.
In a smooth transfer of power, N Srinivasan would take over the reins of Board of Control for Cricket in India from incumbent president Shashank Manohar at the Board's 82nd Annual General Meeting in Mumbai on Sunday.
Indian cricket icon Sachin Tendulkar feels BCCI president Sourav Ganguly should initiate a revamp of the Duleep Trophy as players competing in the event seem more focussed on individual performances than their teams.
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
Ratan Tata's comments come after another Indian automotive company, Mahindra & Mahindra, is in the process of taking over South Korean auto maker Ssangyong Motor Company, expected to be done by November.
Tata Sons chairman Ratan Tata on Tuesday said that further investments in West Bengal would be made when there is a "feeling to satisfy that there is no hostility against us".
Globally China, Japan, Russia and South Korea and the US are the top FTTH markets.
Yuvraj represented six different franchises in the lucrative franchise tournament and was part of two IPL winning teams
BCCI has approved 10-team IPL from 2022 edition and are backing ICC's bid for cricket's inclusion in 2028 Olympics after some clarifications from IOC.
In a major setback to Infosys Technologies, the company announced that Mohandas Pai, the member of board of the company has decided to resign. Meanwhile, Infosys -- India's second largest software services exports firm -- posted a net profit rise of 17.1% y-o-y to Rs 1,818 crore (Rs 18.18 billion) in its net profit for the fourth quarter ended March 31, 2011 as compared to Rs 1,600 crore (Rs 16 billion) in the corresponding quarter a year ago.
Jacob Mathew, executive editor of the Malayala Manorama Group of Publications, has been unanimously elected to be the president of WAN-IFRA at its annual general meeting in Dublin, Ireland.
The 2020 international calendar concluded with the three tournaments in the Asia leg which was conducted in Bangkok in successive weeks.
Summary of sports events and persons who made news on Tuesday
Ambani family truce unlocks RIL growth potential.
With a focus on financial literacy for women, Millennium Mams is an 18-year-old initiative started by Kolkata-based industrialist B K Dhanuka.
The market breadth was negative. Out of 2932 stocks traded, 1306 stocks advanced while 1485 stocks declined.
Announcing a bullish stance on the company's financial position, the chairman and managing director said that RIL would become debt-free on a net basis in the current 2011-12 fiscal.
The company's debt is around four times its earnings before interest, taxes, depreciation and amortisation, raising concerns among investors as well as stock analysts.
The Editors Guild of India is 'deeply shocked' and 'seriously concerned' at the increasing number of reports detailing the pernicious practice of publishing 'paid news' by some newspapers and television channels, especially during recent elections.
Barely 17 days before the Board of Control for Cricket in India's annual general meeting, the Bihar Cricket Association (BCA) led by Rashtriya Janata Dal president Lalu Prasad Yadav is embroiled in a controversy with its rebel group unilaterally electing a president and a general secretary on Sunday.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
Abiding by the Delhi High Court's directive, the Sports Ministry today withdrew its observer for the much-awaited Hockey India elections.
The German auto major is also set to double its current production capacity in Chennai to meet the growing demand.
The world's largest independent telecom masts player GTL Infrastructure on Wednesday said its expects to complete the merger of Reliance Infratel's tower operations with itself by the middle of next month.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
In 2009, Reliance Communications' net worth exceeded Rs 37,000 crore (Rs 370 billion) making it one of the top three companies in India.
The Athletics Federation of India on Sunday suspended as many as 15 of its units for not holding state meets and not following the AFI calendar.
The Indian information technology (IT) industry will need to move up the value chain to tackle competition from countries like China, Philippines and Vietnam, said Ratan Tata. The Tata Consultancy Services (TCS) chairman was addressing the 15th annual general meeting (AGM) of the company.
After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' chairman Mukesh Ambani on Friday said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.
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