The richest Asian Mukesh Ambani is flying to Doha to meet US President Donald Trump, his second meeting since Trump returned to presidency in January this year.
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
'India has tremendous potential for digital ventures,' says Ratan Tata.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Engineering giant Larsen & Toubro (L&T) is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending 2025-26 (FY26). The base year for the plan is 2020-21 (FY21). The blueprint, called Lakshya 2026, is intended to help the company exit sub-scale businesses, concentrate on high-technology (tech) manufacturing, construction and green energy projects, and increase its share from information technology (IT) and digital services. The lending operations of the financial services business, meanwhile, will be reorganised, with focus on retail lending.
After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
As many as 3.2 lakh shareholders attended the meeting on the newly-minted JioMeet platform from 550 cities in 48 countries.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Separate entity for publishing business of Kasturi & Sons Ltd to increase focus on publishing business; no plan to bring in external investors, says firm.
Companies like Amazon Prime Video are also temporarily lowering bit rates -- a measure of how much data is being transferred -- to ease pressure on telecom network infrastructure.
The former Team India captain, who has invested in entertainment company Flickstree, in conversation with Romita Majumdar & Urvi Malvania.
Netflix and Amazon Prime are raising their stakes in the game, commissioning original shows and going all out to acquire regional films for their libraries.
OTT players like Netflix, Hotstar, and Voot are keen to find a common currency to measure viewership numbers and improve advertising options as well as content. Urvi Malvania reports.
Doting father Vinoth Chandar made an animation character based on his little girl to amuse her. Today, it has grown into a YouTube channel with 14 million subscribers from 75 countries.
According to industry experts, television has lost the young urban viewer for English or Hindi shows. Urvi Malvania finds out what is making more and more of them turn to digital platforms like Voot and Hotstar.
Aditya Bhushan Dwivedi profiles Amitava Ghosh the chief technology officer at TaxiForSure.
Think organic food, affordable homes, artificial intelligence, suggests Prof Manmeet Barve.
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