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.
The proposed policy is increasingly becoming an item of negotiation, as the US pushes hard to change India's stance.
IMAGES from Day 5 of the US Open, at the USTA Billie Jean King National Tennis Center, Flushing Meadows, New York, on Friday.
Delhi Capitals advisor Sourav Ganguly described Shikhar Dhawan as one of the best opening batsmen in the world while revealing that his franchise was "desperate" to rope in the left-hander after he left Sunrisers Hyderabad.
Asserting that it is for the first time that BRICS has taken a collective position on strengthening and reforming multilateral systems, Prime Minister Narendra Modi said, "We have to ensure that BRICS is more productive in the next 15 years".
A criminal probe into four specific areas including hijacking and sabotage has cleared all 227 passengers aboard the ill-fated Flight MH370, Malaysian police chief said on Wednesday.
The war in Ukraine has made its presence felt at the World Economic Forum's annual meeting in Davos. As political and business leaders' debate, they remain fearful of Europe's economic future. There is a sense of gloom among many business leaders as energy shortage and economic recession rear their heads. Global investors are keenly assessing the presence of Indian delegation at Davos.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
India has asked the developed countries to implement their part of obligations under the World Trade Organisation, reduce agriculture subsidy and make their market accessible to developing countries.
India is back on the diplomatic table pushing oil producing countries to raise production in a bid to cool down runaway oil prices. Brent crude oil prices traded above $90 a barrel, on Thursday, for the first time since 2014. Brent is the most popular marker for crude oil trade. It is used as a benchmark for two-thirds of the world's internationally traded crude oil.
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R&D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India's G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
The Chinese government on Saturday ordered the release of people detained over a host of coronavirus-related incidents, a day ahead of Beijing's plan to scrap its three-year-old stringently implemented zero-Covid policy.
The proposed exchange is likely to be almost as big as Mumbai's Bharat Diamond Bourse, now said to be fully occupied.
With corruption rankings, the White-Anglo-Saxon-White Caucasian countries have succeeded in discovering a replacement for the old form of imperialistically deracinating the rest of the world, argues Sudarshan Madabushi.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Kerala has sought patents for 966 medicinal plants in accordance with the provisions in the Geographical Indicator Act, Chief Minister Oommen Chandy, told the assembly on Monday.
IMAGES from Day 1 of all the action from the Wimbledon Championships played at the All England Lawn Tennis and Croquet Club, London, on Monday.
Hailing Uttarakhand high court's verdict which set aside President's rule in the state, the Congress and AAP took potshots at the Modi govt.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
Novak Djokovic advanced to a record-extending 10th Australian Open final with an emphatic win over American Tommy Paul.
What is noticeable in both movies is the willingness with which both the ageing stars -- Kamal is 68 and Rajini, four years older at 72 with a kidney transplant that he has not shied away from acknowledging -- have learnt to respect their age and bodies, notes N Sathiya Moorthy.
Sitharaman also highlighted the steps taken by the government to achieve ease of doing business by digitisation of approvals and making more stable policies to make India a favourable destination for investors.
Exposure to higher air pollution levels for several hours a day can increase insulin resistance in the body and further affect those with diabetes, says diabetologist Dr Manoj Chawla.
Images from Day 5 of the 2023 Wimbledon Championships on Friday.
Trump said he wants to move US immigration to a "merit- based system" and not allow immigrants to bring their extended families.
The government has permitted foreign banks to open a maximum of 18 branches in the country, which are situated mostly in urban and metropolitan centres, the Lok Sabha was informed on Friday.
Here's your weekly digest of photographs that prove that it's a odd, crazy world out there!
Centre would announce a special package for the small scale industries before the 2004-05 budget to enable them to face competition in the emerging World Trade Organisation regime.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
India can become one of the world's automotive export hubs of the 21st century.
The 'Holi celebrations' event was organised by the Governor in the honour of the visiting dignitary and his delegation.
It would be a huge achievement if the new administration manages a successful transition to some sense of domestic and international normalcy in these frantic times marked by the pandemic and rise of illiberal regimes across the world, observes Shreekant Sambrani.
Opposition leaders urged Modi to use the opportunity for the country's benefit.
Congress general secretary (communications) Jairam Ramesh said they will pose three questions a day to Prime Minister Narendra Modi over the issue.
The US side had pushed for removal of price caps on medical equipment such as coronary stents and a commitment by India to reduce trade imbalance
The suspect, a 29-year-old man identified as Saifullo Saipov, of Uzbek descent, was shot in the stomach before being arrested.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
While the US-Iran conflict leading to a spike in global oil prices and trade war between the US and the EU topped the chart with 25 per cent, other major risks to the global economy include coronavirus, debt burdens causing a recess across emerging markets and Hong Kong protests causing an exodus from Asia's biggest financial centre.
Sharma was the president of the conference, the first since the Paris Agreement of COP21 that expected parties to make enhanced commitments towards mitigating climate change.
