Amazon.com has asked the country’s market regulator to investigate Future Retail for insider trading, it showed a letter seen by Reuters, as it seeks to prevent its business partner from becoming part of rival empire Reliance. The firm has been lobbying the Securities and Exchange Board of India (Sebi) to …
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As India hits the peak of its biggest shopping season, the Diwali festival this week, the mogul’s retail websites, including JioMart, elbow their way into a space long dominated by Amazon.com Inc. and the local Walmart Inc. unit Flipkart Online Services Pvt. Increasing competition, Ambani portals offer discounts of up …
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Facebook Inc., which has been struggling for years to get a permit to operate its WhatsApp payments service in India, finally got approval for the rollout, marking a breakthrough year for the tech giant that also saw it partner with billionaire Mukesh. Ambani to expand into the world’s largest open …
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Reliance Industries (RIL) announced Thursday that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), will invest 9,555 crore, or $ 1.3 billion, to buy a 2.04% stake in its retail arm. . This investment values Reliance Retail Ventures Limited (RRVL) at a pre-money capital value of Rs 4,587 …
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Amazon believes Future Group violated the contract by signing a deal with rival Reliance. New Delhi: Amazon.com Inc won an interim award on Sunday against its partner Future Group that sold retail business to Reliance Industries Ltd for Rs 24,713 crore after a Singapore-based single-judge arbitration panel suspended the deal. …
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Speaking at a retail convention, Kishore Biyani said the worst is yet to come for retailers. Future Group founder Kishore Biyani said on Wednesday that the local retail company lost nearly 7 billion rupees in revenue in the first three to four months of the COVID-19 pandemic due to store …
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Reliance Jio added more than 35 lakh of wireless subscribers to its mobile network in July 2020, while Vi, which renamed the old Vodafone-Idea, lost 37 lakh of subscribers, the monthly report from the Telecommunications Regulatory Authority noted. from India. With this, Jio continues its leadership in the wireless subscriber …
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Bengaluru / Mumbai: Amazon Inc. has approached the Singapore International Arbitration Center (SIAC), claiming that Future Group has breached the contract under which the U.S.-based e-commerce major took a stake in its subsidiary and requests the deal with Reliance Industries Ltd to purchase the retail assets of the Indian company …
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Abu Dhabi-based sovereign wealth fund Mubadala acquired a 1.4% stake in Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries Limited, for ₹6,247.5 million rupees, the company said in a statement. The investment values Reliance Retail at a pre-money equity value of ₹ 4,285 million lakh rupees. “Mubadala’s investment will …
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By: Bloomberg | Updated: September 26, 2020 7:41:05 pm Ambani testified via video link for the first time from Mumbai, in an English-language lawsuit over a dispute stemming from a delinquent loan. (Bloomberg) Former billionaire Anil Ambani rebuffed a judge’s comment that he lived a “lavish lifestyle” when faced with …
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