What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
Sebastian Vettel announced on Thursday his retirement from Formula One at the end of the 2022 season.
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
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.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
'One investor told us one leader in Gujarat had sent him to Konkan to buy land.' 'How did these people come to know about this project in advance when locals didn't know?' 'It means those who are running the country are somewhere interested in selling the country's resources to private businessmen.'
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Consolidated revenue rose to a record Rs 163,854 crore.
This is the highest any Indian company has been ranked on the Fortune Global 500 list.
The companies' underrecoveries stood at a whopping Rs 1,39,869 crore last financial year. Of that, Rs 62,837 crore was accounted for by diesel alone.
The Orwellian surveillance State is here. And here to stay, asserts Virendra Kapoor.
As fuel prices surged in September, the government's decision to ask companies to cut price by Rs1 each on a litre of petrol and diesel came as a dampner for private players.
Telecom operators, including Reliance Jio, have been demanding "same service same rules" regime which means that mobile applications providing calls and messaging services should also be made to comply with set of rules that are mandatory for mobile service providers.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
'India needs offensive and defensive security measures to protect itself.'
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
The deal was signed between Embraer and the DRDO for three aircraft equipped with indigenous radars for airborne early warning and control systems.
The Middle East's power house is about to get a new ruler who is only 31 and he may lead Saudi Arabia for decades, says Ambassador M K Bhadrakumar.
The oil cartel's decision to maintain the production ceiling at its 2016 level, despite the recovery of the world economy, will ensure shortfalls in supply and high oil prices in the foreseeable future, warns Ambassador D P Srivastava.
Summary of sports events and persons who made news on Thursday
India-Israel relations are at a crossroads. Simply chanting old hackneyed mantras on terrorism, secularism, democracy, et al, won't suffice. There is danger of stagnation setting in, says Ambassador M K Bhadrakumar.
The IAF chief also said Pakistan has become a pawn of Chinese policy and its dependence on China would increase further in future. He said India needs to understand the interplay of some major events in its vicinity that would impact the security scenario of the region.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
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