Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
Unlike Israeli company NSO, whose sale of Pegasus cyber tech grabbed worldwide attention, and other manufacturers of offensive-cyber products, Cellebrite operates in a grey area between security exports and civilian ones.
Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
Reliance Industries invested Rs 30,000 crore (around $3.76 billion) in its retail business and added 2,500 stores, taking the total store count to 15,196 in FY22. Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22. In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh.
Traditionally thukpa is made with buckwheat noodles and flavoured with yak meat or dried fish.
Seema Ghulam Haider and Sachin Meena got in touch while playing PUBG in 2019 as a dramatic love story unfolded between the two living more than 1,300 km apart, in countries not too friendly to each other.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
During a sale, many store windows invite the shopper with impossible-to-miss visuals announcing '50% Discount'. Only upon entering does the shopper realises that the one rack which fulfils this promise sells items she'd never purchase.
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
...or just a Covid-era practice, asks Ajit Balakrishnan.
Avoid microwaving food or beverages in plastic containers, as heat can accelerate chemical leaching, suggests Dr Sudha Desai.
This is the Mukesh Ambani-led company's second entry into the dairy segment and it will directly compete with Amul and Mother Dairy.
In the fifth of a six-part series, Business Standard visits Coimbatore, often referred to as the Manchester of South India for its promising textile industry, to assess the impact of the note ban.
Reliance Retail's digital commerce platform JioMart will morph into an e-marketplace offering multiple brands - from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery - as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. India's largest retailer was in the process of onboarding third-party sellers these past few months, further increasing its selection across categories multifold. Its website and application offers general merchandise as well.
'Banning a game is not the solution, rather, there should be laws that restrict the number of hours spent a week playing a game.'
Drink enough water, focus on your portion sizes, cut out junk food, start a walking routine, and stay consistent.
Proper exercise, good routine, optimal nutrition and supplementation can help maintain healthy muscle and bone mass, explains Maitri Trivedi.
Kerala is likely to witness all-time high liquor sales this Onam, the harvest festival, with the season already reporting a 30 per cent hike. According to the Kerala State Beverages Corporation (BevCo), the first few days of this Onam season have set the tone for record sales. "During last year's Onam season, our sales were around Rs 561 crore. This year, we expect it to be over Rs 700 crore," said Yogesh Gupta, chairman and managing director, BevCo.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
Keep this checklist handy, and drive stress away!
By posing with folks at the baby store, the soon-to-be-daddy and the just-become-daddy inadvertently breached Cricket Australia's biosecurity norms, an official told the Sydney Morning Herald and The Age newspapers.
The chemist, Umesh Prahladrao Kolhe (54), was killed on June 21, and Maharashtra police have arrested five persons in connection with the incident.
'Their conduct is as if they have come to arrest some dacoit.' 'They behave with everyone in this manner, whether it's Manish Sisodia, Anil Deshmukh or anybody else.' 'It is as if they are ambassadors of god and we are satans.' 'This is solely due to the sections in some laws like the Prevention of Money Laundering Act, 2002.' 'This is a cruel law. In fact, the death penalty is better.'
Entrepreneur and podcaster Raj Shamani identifies four most sought after job profiles.
Sumit Bhosle sent us these pictures of fruits from his farm in Sawantwadi.
On Saturday night, the fire broke out at BM Container Depot in the Kadamrasul area in Sitakunda Upazila in Chittagong.
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
With easy access to processed meals and an unhealthy lifestyle, gaining weight is simpler than ever, warns Pune-based celebrity fitness coach Gaurav Pawar.
The possibility that the data storage unit of the cockpit voice recorder was damaged cannot be ruled out at present.
Reliance Retail has entered the Indian fast-moving consumer goods space as it takes its private label brands, sold at its supermarkets and hypermarkets, Reliance Fresh and Reliance Smart, to general trade. The company had internally set a target of Rs 50,000 crore turnover from the FMCG business, which will fall under Reliance Retail's consumer brand division. Business Standard accessed a presentation which includes the brands it has taken to the general trade.
'People are trying to save money because of uncertainty and insecurity.'
A 54-year-old chemist was stabbed to death in Amravati city of Maharashtra, with the police suspecting that the accused committed the offence as the victim had allegedly shared a post on a social messaging platform in support of Nupur Sharma, whose remarks on Prophet Mohammed led to nationwide protests and global condemnation.
Apart from the 1.1 crore doses of Covishield being procured from the Serum Institute of India, 55 lakh doses of indigenously developed Covaxin were being obtained from Bharat Biotech, Union Health Secretary Rajesh Bhushan said at a press conference.
International model. Beauty entrepreneur. Investment analyst. Columbia University alumnus. Say hello to Pritika Swarup.
Tucked away at a lane in Arehalli Guddadahalli, a small village in Bengaluru Rural district is a nondescript factory of LaundryMate, one of India's first organised technology-led online laundry services firms. The company has built the country's largest laundry facility, which is spread across 53,000 square feet - the size of a football field. Inside the hangar-like building, one can hear the whooshing and humming sound of big hi-tech washing machines being operated by the newly-recruited staff of LaundryMate.
The war between Russia and Ukraine appears to be entering a new phase after Kyiv dealt a big blow to Moscow's grip on parts of the east with a fast-moving offensive that saw Ukrainian troops enter the strategic city of Izium after six months of occupation.
It is the season of cooking and baking, but with Amul Butter in short supply, consumers aren't like the cat that got the cream. A shortage only means market shelves without butter on them. "There is a supply-side deficit. "We are now able to procure only two packs of butter a day, as opposed to three packs (each containing 30 packets of butter) in a day," says a salesman at Modern Bazaar, a departmental store in New Delhi's Greater Kailash.
SoftBank-backed internet commerce firm Meesho has downsized its grocery vertical Meesho SuperStore (formerly Farmiso) in an attempt to drive efficiency. The Bengaluru-based firm did not reveal the number of laid-off employees. However, the company officials said that about 150 employees have been laid off.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
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