Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Reigning champions City are also involved in a separate independent hearing into the club's alleged breaches of Premier League financial regulations which began in September, with a verdict expected some time before the end of the current season.
The bulk of Indian carriers flying to Dubai are low-cost carriers, which include IndiGo, Air India Express, and SpiceJet.
The decision follows a legal challenge by Manchester City against the league's Associated Party Transaction (APT) rules, which regulate commercial deals between clubs and companies linked to their owners if considered above fair market value.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
NRI businessman and Lulu group chairman M A Yusuff Ali, who had a miraculous escape on April 11 after his helicopter crash-landed on marshy land in Kochi, has undergone a spinal surgery at a hospital in Abu Dhabi, the company said.
Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
'Although one-in-five women in the UK will experience stalking at some point in their lives, there are no scientific studies around the stalking of athletes.'
Richest Indian Gautam Adani's conglomerate has cited an improved net debt to operating profit ratio and more than halving of loans from public sector banks to allay concerns about it being overleveraged. In a 15-page note in response to CreditSights report calling the group overleveraged, it said companies in the group have consistently de-levered, with the net debt to Ebitda ratio declining to 3.2 times from 7.6 times in the last nine years. "The businesses operate on a simple yet robust and repeatable business model focused on development and origination, operations and management and capital management plan," the note, reviewed by PTI, said.
The 2025 Sony World Photography Awards has announced its National and Regional Award winners, celebrating talent from 56 countries.
Byju's is planning to raise $500-600 million from Abu Dhabi's sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. "There is no change in Byju's valuation. The new fundraising process is still going on," said a person familiar with the matter. "Any new valuation would be determined in the futureByju's is planning to raise $500-600 million from Abu Dhabi's sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. "There is no change in Byju's valuation. The new fundraising process is still going on," said a person familiar with the matter. "Any new valuation would be determined in the future as it is very tough for investors to do that in this environment." as it is very tough for investors to do that in this environment."
The eight-member SAARC region includes Bangladesh, Bhutan, Maldives, Nepal, Pakistan, India, Sri Lanka and Afghanistan. Gupta also hoped that the 3G auction would take place on time.
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
Defending champions Australia are clubbed alongside India, New Zealand, Pakistan and Sri Lanka in Group A.
Matthew Wade has revealed that his team's defeat to India in the T20 World Cup earlier this year was probably the moment that ended his career as it was the first time that the thought of retirement crossed his mind.
'You don't need massive industry or huge energy resources.' 'You could start with just 3 or 4 people in a coffee shop and invent the world.'
Livingstone, who made his IPL debut in 2019 with Rajasthan Royals, spent the last three seasons with Punjab Kings where the middle-order batter scored 827 runs in the world's richest Twenty20 league.
Barcelona were drawn in Group E with Bayern Munich, Benfica and Dynamo Kyiv.
A controversy broke out after a video purportedly showing a group of people offering namaaz in Lulu Mall in Lucknow surfaced on social media, leading to a protest by a right-wing Hindu group that also filed a police complaint.
Modi is the first foreign leader to be invited to the palace by the Crown Prince, who appreciated the role played by Indian workers in the development of UAE as a modern nation, ministry of external affairs spokesperson Raveesh Kumar tweeted.
Govt gave 36,000 seats per week more than inter-ministerial group's recommendations.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
Already with a presence in Kenya's telecom sector through a brand called 'Yu', Essar is looking to strengthening its foothold in the rapidly growing African market.
Janata Party chief Subramanian Swamy on Thursday sought suspension of the new bilateral air services agreement between India and Abu Dhabi, saying prima facie it appeared to be linked with Jet-Etihad deal.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
The Caterham Formula One team will race in next week's Abu Dhabi season-ender despite still falling short of a targeted 2.35 million pounds ($3.7 million) to get them there, an administrator said.
Young Indian golfer Aditi Ashok made a triumphant return to the Ladies European Tour by clinching the Fatima Bin Mubarak Ladies Open after surviving a few anxious moments in the closing stages.
'It is the first technology in history which is not just a tool, it is an agent.' Yuval Noah Harari on the dangers on AI.
Amid intense scrutiny from short-sellers and regulators, Adani group stocks have seen a significant shift in their shareholder base: Relatively opaque foreign portfolio investors (FPIs) have given way to more recognisable investors and broad-based funds. The list of large public shareholders - those directly holding at least 1 per cent - is now dominated by entities, such as the state-owned Life Insurance Corporation (LIC), US-based GQG Partners, Abu Dhabi-based International Holding Company, and Qatar Investment Authority's INQ Holding.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
UAE's promise of $50-bn investment in Indian infra won't be included.
Manchester City's Abu Dhabi-controlled owner has agreed to sell a $500 million stake to US private equity firm Silver Lake, making it the world's most valuable soccer group with a $4.8 billion price tag.
'The World Cup squad will fly to the Caribbean on May 31 ahead of England's opening group match against Scotland at the Kensington Oval, Barbados, on Wednesday, June 4.'
'When I started to step into the West in 2006, I believed India was not going to be the back end.' 'I understood that no film-maker wants to believe that they are outsourcing their creativity to a low-end place.' 'The application of technology in the hands of our Indian artistes is identical to any of our artists in the West.' 'Nobody in the world can say this shot was done in India and that in London.'
Adani Green Energy Ltd, the renewable energy arm of billionaire Gautam Adani's conglomerate, plans to raise $409 million through US dollar-denominated bonds to repay a debt obligation falling this year. In a regulatory filing, the company said the bond will have a door-to-door tenor of 18 years. The proceeds will be used to redeem the $500 million 6.25 per cent senior secured notes due 2024, it said adding these notes were issued on June 10, 2019.
Ireland claimed their first Test victory when they beat fellow minnows Afghanistan by six wickets on Friday in a one-off match in Abu Dhabi.
A 'hybrid model' to host next year's Champions Trophy in Pakistan remains an option as India's participation cannot be decided by the ICC if there is a government policy against it, a source in the governing body's all-powerful executive board told PTI on Friday.
