Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18's media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore. The new entity will be guided by three chief executive officers (CEOs), "who will lead the company into a new era of ambition and disruption", according to a joint statement. Kevin Vaz will lead the entertainment division across all platforms, Kiran Mani will head the combined digital division, and Sanjog Gupta will oversee the sports operations.
A day after the RBI raised the benchmark lending rate by 35 basis points, Kotak Mahindra Bank Managing Director Uday Kotak on Thursday said the central bank may go for one more rate hike to bring inflation below its upper tolerance level of 6 per cent. Yesterday, the RBI indicated that it wants inflation to be within the band first and then move towards the target of 4 per cent, Kotak said at the CII Global Economic Policy Summit 2022. "My sense is that there could be one more rate hike and that may be the time for thinking about a pivot, but we got to watch very closely the data, and maybe around 6.5 per cent as it looks today, subject to what happens to the world, subject to what happens to oil, subject to what happens to many other things," he said.
Shiv Sena's Dadaji Bhuse is the new school education minister while Uday Samant continues to be the industries minister.
'We have to be prepared for the larger disruption that is likely to take place.'
'More than Eknath Shinde's wish, we want him (Shinde) to lead us in the government.'
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
Shinde was reportedly not happy as he had to cede the top post to the ally BJP, and was reluctant to take the deputy CM post.
Amid intense discussions among Mahayuti allies over the distribution of portfolios and Eknath Shinde-led Shiv Sena's insistence on the home ministry, the clarity on the composition of the council of ministers is expected by Sunday, sources said.
The power ministry is planning to start a second version of UDAY, aimed only at reducing the losses of discoms and improving the quality of power supply.
Industry leaders including Google's India-born chief executive Sundar Pichai on Wednesday mourned the death of Ratan Tata, saying the veteran industrialist cared about making India better. "He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Pichai said in a post on X. Pichai recalled that his last meeting with Tata was at Google's office where they spoke about the progress of self-driving car Waymo.
Ajit Pawar's NCP, a constituent of Mahayuti, was winning or leading in 41 of the 59 seats it contested as per the latest figures released by the Election Commission.
The employees called off the strike following government's assurance of a salary hike
Shinde had retained most of the sitting MLAs, who chose to be with him when he led the rebellion two years ago. They delivered for him on Saturday when votes for the state polls were counted.
The BJP-led Mahayuti alliance, which secured a landslide victory in the recent Maharashtra assembly elections, is set to form the new government in the state. Outgoing Chief Minister Eknath Shinde, his deputies Devendra Fadnavis and Ajit Pawar met Union Home Minister Amit Shah to finalize a power-sharing agreement. The alliance partners, BJP, Shiv Sena and NCP, will decide on ministerial berths at the meeting with Shah. Political circles are abuzz about the social equations in Maharashtra influencing the choice of the next Chief Minister.
'Just being recognised for all my efforts towards the game feels good.'
He did not divulge any further information on what is going to be an intricate issue and hard bargaining.
The poll aspirants who feel threatened are seeking to garner sympathy from their voters by meeting influential leaders like Jarange in the Marathwada region
Congress leader Jairam Ramesh on Monday hit out at the Election Commission for the 'tone and tenor' of its recent letter to his party while also urging the poll body to act against 'communal and incendiary rhetoric' allegedly used by Assam Chief Minister Himanta Biswa Sarma during poll campaigns.
Allocation to bank deposits -- fixed deposits, savings account deposits, and current account deposits -- came down.
The Congress on Friday hit out at the Election Commission after it rejected allegations over irregularities in the Haryana assembly polls, saying if the poll panel's goal is to 'strip itself of the last vestiges of neutrality', then it is doing a 'remarkable job' at creating that impression.
Billionaire banker Uday Kotak founded bank as well as brokerage created and oversaw an offshore fund used by an unnamed investor to profit from a plunge in Adani shares that followed a damning Hindenburg report, the US short seller said on Tuesday. Hindenburg Research, which had in a January 2023 report alleged stock market manipulations and accounting fraud at the Adani group, said it has received a show cause notice from the Indian markets regulator Sebi over gains made from betting on the conglomerate's shares.
Their lists show that a significant number of contenders are closely related to the current ministers, legislators or MPs, including their sons or daughters, wives and brothers or sisters.
With the RBI capping top managements' tenure at lenders, Kotak Mahindra Bank's head Uday Kotak on Monday said his current term as the managing director and chief executive is till December 2023 and the board will take a call on succession in due course. Kotak also stressed that the commitment to institution building has been a core value for the entity over the last 36 years of its existence. The RBI last week capped MD and CEOs' terms at private sector lenders at 15 years, from October 1 onwards, but has allowed the serving bank heads to complete their current appointments. Uday Kotak, who is also among the promoters of the lender, has been at the helm for over 17 years already.
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
Here's what your favourite Bollywood celebrities are tweeting.
India captain Uday Saharan, bowler Saumy Pandey and all-rounder Musheer Khan have been named in the ICC Under 19 World Cup Player of the Tournament as the International Cricket Council (ICC) announced shortlist on Friday.
Sourav Ganguly, Gautam Gambhir, and Irfan Pathan took to social media to shower their congratulatory messages
Keep an eye on these five players during the tournament.
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
India are the most successful team in the U19 Asia Cup having won the title eight times.
The actor and now a Hollywood producer is clearly excited about his Cannes sojourn!
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
The employees are demanding salary parity with state government employees, seeking a pay scale adjustment to match that of their counterparts in the state sector.
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