'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Saudi Aramco had right from the beginning resisted the price tag Reliance had put for the 20 per cent stake in O2C business, which comprises the company's twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion. Adani is now just behind business magnate Elon Musk, according to Forbes' data.
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
Hotstar on Friday said it will offer the Asia Cup and ICC Men's Cricket World Cup tournaments at no cost to users.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
MAMI will showcase over 250 films spread across 10 days from October 27 to November 5.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
The IPO boom in 2023 added four new promoters to the billionaires' list.
India and China recently held a fresh round of high-level military talks to resolve the border row that witnessed both sides agreeing to maintain "peace and tranquillity" on the ground but there was no indication of any breakthrough.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
This year will be the one when GenAI becomes a part of the daily lives of people around the world.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
'We are calling companies to set up assembly plants for mobile phones while all the components are imported.' 'Only the last turn of the screwdriver is done here. And you call it self-reliance, Atmanirbharta, etc.' 'Unless you invest in research, you will not climb up the ladder. But this government is happy getting sub-contract work.'
How much do you know about the Vibrant Gujarat Global Summit 2024?
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
Amazon Prime Video has announced 69 assorted Web series and movies, and the slate sure looks interesting.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Why should Reliance Digital position itself as an alternative to Chadhaji's store? It simply doesn't make good business sense, says Sudhir Bisht.
Steph Curry had a disappointing season with the NBA's Golden State Warriors but he still managed to add another piece of silverware to his trophy cabinet.
'Namaste behno aur bhaiyo, main aapka dost Ameen Sayani bol raha hoon'
Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.
'It is difficult to put a number right now as the value of dollar to rupee has also changed from the exchange rate last time. But don't be surprised if digital rights earns way more than TV.'
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
The 78-year-old Naveen is on the cusp of creating history. He must win the forthcoming Assembly polls to become India's longest-serving chief minister, a record held by Sikkim's Pawan Kumar Chamling.
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
The government on Tuesday increased the windfall profit tax on crude oil produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according to an official notification. SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
If you are overweight, try and lose a few kilos. Watch the calories in your diet as excess weight can contribute to insulin resistance, warns Dr David Chandy.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
Abhik Sen, who tried out the new service, finds out it is good for data and apps, but calls are still sketchy
All the 700-odd employees of RMWL will get new cards and stationary with a new signature logo which will have RMWL as the umbrella brand and the business divisions alongside -- BIG FM, BIG Live, BIG Street, BIG Digital.
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