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Losing business as Mukesh Ambani backed JioMart pushes tie-ups and offers deep discounts has left traditional distributors and salespeople threatened. Reuters reports that All India Consumer Products Distributors Federation - which has 400,000 members - has written to consumer companies demanding a level playing field, saying they must get products at same prices like other big corporate distributors such as Reliance.
More and more stores were now using the JioMart Partner app to stock up their outlet and availing big discount vs using the traditional route of visiting distributors who was unable to match Jio's discounts. Calling for a 'Non-cooperation' movement the union of sales people has threatened to stop distribution of products to mom-and-pop stores, and will also hold out on newly launched consumer goods if such partnerships continue beyond Jan 1.
The group has sent the letter of demands of equal pricing to Reckitt, Hindustan Unilever, Colgate and 20 other consumer goods companies reports Reuters. 

Why are 4 lakh salesmen are upset with Mukesh Ambani's Reliance?

4 lakh salesmen threaten to strike from January 1, demanding to be treated equally to Asia's richest man - Mukesh Ambani. 

Why the salesmen to your Kirana store may strike because of Jio

<ul>
<li>Deep discounts offered by Jio's&nbsp;retail arm hurting local salesman</li>
<li>Business for local salesman down 20-25% as they are unable to match Jio&nbsp;discount</li>
<li>All India Consumer Products Distributors Federation demand equal pricing as Reliance&nbsp;</li>
<li>Salesmen demand same discounts as big corporate distributors such as Reliance.
&nbsp;
</li>
<li>4 lakh&nbsp;salesman threaten to strike from January 1 on pricing disparity&nbsp;</li>
<li>Salesmen send discount demand letter to&nbsp;Reckitt, Hindustan Unilever, Colgate and 20 others</li>
</ul>

If pricing-parity demand is not met, the group said in its letter, its salesmen will stop distribution of products to mom-and-pop stores

Losing business as <a href="https://www.editorji.com/business-news/mukesh-ambani-talks-succession-for-the-first-time-for-his-200-billion-reliance-empire-1640749921718" target="_blank">Mukesh&nbsp;Ambani</a>&nbsp;backed JioMart&nbsp;pushes tie-ups and offers deep discounts has left traditional distributors and&nbsp;salespeople threatened.&nbsp; Reuters reports that&nbsp;All India Consumer Products Distributors Federation - which has 400,000 members - has written to consumer companies demanding a level playing field, saying they must get products at same prices like other big corporate distributors such as Reliance.
Also watch |&nbsp;<a title="Bitcoin's wild weekend, down 30% from recent high as investors lose $10,000 in one hour" href="https://www.editorji.com/business-news/cryptocurrency/bitcoin-s-wild-weekend-down-30-from-recent-high-as-investors-lose-10-000-in-one-hour-1638756908945">Bitcoin's wild weekend, down 30% from recent high as investors lose $10,000 in one hour</a>
More and more stores were now using the&nbsp;JioMart Partner app to stock up their outlet and availing big discount vs using the traditional route of visiting distributors who was unable to match Jio's discounts.&nbsp; Calling for a&nbsp;'Non-cooperation' movement the union of sales people has threatened to&nbsp;stop distribution of products to mom-and-pop stores, and will also hold out on newly launched consumer goods if such partnerships continue beyond Jan 1.
The group has sent the letter of demands of equal pricing to&nbsp;Reckitt, Hindustan Unilever, Colgate and 20 other consumer goods companies reports Reuters.&nbsp;

Shareholders of&nbsp;Mukesh&nbsp;Ambani backed Reliance Industries had a terrific Thursday with the largecap&nbsp;surging over 5% in intraday trade as the company announced restructuring&nbsp;and repurposing of their gasification&nbsp;assets.
As per a statement released by the company&nbsp;Jamnagar gasification unit will now become a wholly-owned subsidiary.&nbsp;The transfer will help &ldquo;unlock the value of syngas" and will help the company&rsquo;s transition to renewables as its primary source of energy, said the company in a press release.&nbsp;

Stock Alert! RIL soars in trade as company announces restructuring 

Green on the screen for RIL as stock soars on restructuring.

Reliance to transfer Jamnagar asset to subsidiary for syngas production

Shareholders of&nbsp;Mukesh&nbsp;Ambani backed Reliance Industries had a terrific Thursday with the largecap&nbsp;surging over 5% in intraday trade as the company announced restructuring&nbsp;and repurposing of their gasification&nbsp;assets.
As per a statement released by the company&nbsp;Jamnagar gasification unit will now become a wholly-owned subsidiary.&nbsp;The transfer will help &ldquo;unlock the value of syngas" and will help the company&rsquo;s transition to renewables as its primary source of energy, said the company in a press release. &nbsp;

Mukesh Ambani backed RIL has made a U-turn in it's decision to hive off their oil-to-chemical (O2C) business and thus also cancelling it's plan to sell 20% to Saudi Arabia's Aramco in the company. “RIL and Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,” RIL said in a statement late night on FridayWhat is the changed context? 
India's largest private sector company by market capitalisation is making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. This new focus is taking the investment context away from the traditional biz of oil-to-chemical.So is the chapter with RIL-Aramco shut?No, Reliance stated that the two will make "future disclosures as appropriate,” on partnerships. The negotiation between RIL and Saudi Aramco may now include the new clean initiatives announced by the Mukesh Ambani led-company.
 

Reliance stock cracks 3% as $15 billion deal with Aramco stands cancelled

The $15 billiion deal between India's largest company by marketcap, RIL and the world's largest Oil company, Aramco stand cancelled. 

Reliance-Aramco to rework deal. O2C deal cancelled

<ul>
<li>Reliace-Aramco&nbsp;stake sale deal stand cancelled, RIL&nbsp;not to rejig&nbsp;business</li>
<li>RIL:&nbsp;Aramco have mutually determined to re-evaluate the investment</li>
<li>RIL&nbsp;likely to focus partnerships with Aramco&nbsp;in new energy business</li>
<li>Mukesh&nbsp;Ambani&nbsp;has committed $10 billion to new energy ventures of RIL</li>
<li>RIL: Aramco&nbsp;and Reliance to make future&nbsp;disclosures when appropriate</li>
</ul>

Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business.&nbsp;

Mukesh&nbsp;Ambani&nbsp;backed RIL&nbsp;has made a U-turn in it's decision to hive off their oil-to-chemical&nbsp;(O2C) business and thus also cancelling it's plan to sell 20% to Saudi Arabia's Aramco&nbsp;in the company.&nbsp; &ldquo;RIL and Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,&rdquo; RIL said in a statement late night on Friday What is the changed context?&nbsp;
India's largest private sector company by market capitalisation is making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. This new focus is taking the investment context away from the traditional biz of oil-to-chemical. So is the chapter with RIL-Aramco shut? No, Reliance stated that the two&nbsp;will make "future disclosures as appropriate,&rdquo; on partnerships.&nbsp;The negotiation between RIL and Saudi Aramco may now include the new clean initiatives announced by the Mukesh Ambani led-company.
&nbsp;

Bringing movie magic back to fans, Reliance had a special Diwali gift for Mumbaikars!
Reliance announced the launch of 'Jio Drive-In', India's first permanent rooftop drive-in theatre, at Jio World Drive in BKC, Mumbai, which will be operated and managed by PVR.
The 290 car, open-air rooftop cinema opened on November 5 and screened Rohit Shetty's cop drama 'Sooryavanshi' as its first film.
The drive-in theatre has been built on the same location as Mumbai's first iconic drive-in theatre in 1977, and it is sure to provide the charm and nostalgia of the past with a technological upgrade that is in sync with current times. 
The tickets are priced at Rs 1,400 onwards for each car with up to 4 people per car. The booking system offers various flexible options, including the maximum capacity of viewers per car. Jio Drive-In will run two shows every evening. 
The entire customer journey will be contactless, starting from booking tickets to availing food and beverages. Guests can pre-book tickets and F&amp;B on the PVR app and BookMyShow. 

India's first rooftop, open-air drive-in theatre in Mumbai opens with 'Sooryavanshi'

Bringing movie magic back to fans, Reliance had a special Diwali gift for Mumbaikars! India's first open air drive in cinema opens in Mumbai

SUPER: Jio&nbsp;Drive-In brings back nostalgia for Mumbaikars&nbsp;this Diwali
Bringing movie magic back to fans, Reliance had a special Diwali gift for Mumbaikars!
SUPER: Jio&nbsp;Drive-In in Mumbai India's first open air drive-in theatre
Reliance announced the launch of 'Jio Drive-In', India's first permanent rooftop drive-in theatre, at Jio World Drive in BKC, Mumbai, which will be operated and managed by PVR.
SUPER: Open-air rooftop cinema can accommodate&nbsp;up to 290 cars
SUPER: Jio&nbsp;Drive-In screens 'Sooryavanshi' as its first film
The 290 car, open-air rooftop cinema opened on November 5 and screened Rohit Shetty's cop drama 'Sooryavanshi' as its first film.
SUPER: Tickets at Jio&nbsp;Drive-in priced at Rs 1400 for each car
The tickets are priced at Rs 1,400 onwards for each car with up to 4 people per car. Jio Drive-In will run two shows every evening.

The 290 car, open-air rooftop cinema opened on November 5 at Jio World Drive in Mumbai.

Bringing movie magic back to fans, Reliance had a special Diwali gift for Mumbaikars!
Reliance announced the launch of 'Jio Drive-In', India's first permanent rooftop drive-in theatre, at Jio World Drive in BKC, Mumbai, which will be operated and managed by PVR.
The 290 car, open-air rooftop cinema opened on November 5 and screened Rohit Shetty's cop drama '<a href="https://www.editorji.com/entertainment-news/bollywood/akshay-kumar-s-next-film-sooryavanshi-to-light-up-theatres-this-diwali-1632635652758" target="_blank">Sooryavanshi'</a> as its first film.
The drive-in theatre has been built on the same location as Mumbai's first iconic drive-in theatre in 1977, and it is sure to provide the charm and nostalgia of the past with a technological upgrade that is in sync with current times.
The tickets are priced at Rs 1,400 onwards for each car with up to 4 people per car. The booking system offers various flexible options, including the maximum capacity of viewers per car. Jio Drive-In will run two shows every evening.
The entire customer journey will be contactless, starting from booking tickets to availing food and beverages. Guests can pre-book tickets and F&amp;B on the PVR app and BookMyShow.
Also Watch |&nbsp;<a href="https://www.editorji.com/entertainment-news/bollywood/sooryavanshi-new-song-akshay-katrina-are-grooving-to-najaa-so-will-you-1635927991324" target="_blank">'Sooryavanshi' new song: Akshay &amp; Katrina are grooving to 'Najaa', so will you</a>

Gujarat based Sintex Industries could be next on the shopping list of billionaire Mukesh Ambani.

Mukesh Ambani goes Sintex shopping and no it's not for water storage! 

Sowing up a new acquisition plan Mukesh Ambani sets his eyes on the fabric supplier for Armani, Versace and Tommy Hilfiger. 

Mukesh Ambani to buy Sintex Industries next?

Sintex supplies fabrics to reputed international and domestic brands like Armani, Pepe Jeans, Nike, Zara, H&amp;M, Versace and Tommy Hilfiger.

Gujarat based&nbsp;Sintex Industries&nbsp;could be next on the shopping list of billionaire Mukesh&nbsp;Ambani. Unlike what the name suggests it is not the water storage company but the bankrupt&nbsp;textile division that has caught the eye of India's richest man.&nbsp;
Sintex supplies fabrics to reputed international and domestic brands like Armani, Pepe Jeans, Nike, Zara, H&amp;M, Versace and Tommy Hilfiger.
Also Read:<a href="https://www.editorji.com/business-news/reliance-brands-to-acquire-40-stake-in-manish-malhotra-s-designer-label-1634360328710" target="_blank">&nbsp;Reliance brands to acquire 40% stake in Manish Malhotra's designer label</a> The Gujarat-based textile company was admitted into the bankruptcy process&nbsp;in April this year after&nbsp;Invesco Asset Management (India) Pvt Ltd raised solvency issues post a Rs 15.4 crore default .
As per a report, Reliance&nbsp;Industries, along with Assets Care &amp; Reconstruction Enterprise Ltd (ACRE), Varde Capital-backed Aditya Birla Asset Reconstruction Company,&nbsp;and foreign fund CarVal Investors, among others, have submitted expressions of interest (EoI) for bankrupt Sintex Industries.
This is just the second instance of Reliance has bid for a bankrupt entity. Previously it had bid and acquired insolvent Alok Industries.&nbsp;
Also Read |&nbsp;<a href="https://www.editorji.com/business-news/mukesh-ambani-now-richer-than-warren-buffet-in-the-top-10-richest-of-the-world-1634263810842">Mukesh Ambani now richer than Warren Buffet, in the top 10 richest of the world</a>

Paytm&nbsp;starts its Diwali&nbsp;celebrations early, the digital payment platform finally received a nod from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO), through which it plans to raise Rs 16,600 crore.
The Securities and Exchange Board of India (SEBI)&nbsp;bars investment advisors from advising on crypto, digital gold. This effectively bans SEBI-Registered Investment Advisors or RIAs can't offer advice or platform to trade unregulated products, said the regulator.
Billionaire Mukesh Ambani-led RIL reported consolidated net profit of Rs 13,680 crore in the September quarter (Q2), up 43 per cent from the same period last year
RIL share has gained 24.8% in one year and risen 32.5% since the beginning of this year.
ICICI Bank has given significant return in the current financial year FY22, rising more than 30 percent, outperforming Nifty Bank index by a strong margin which gained 21 percent in the same period.
While petrol has already hit the Rs 100-a-litre mark or more in all major cities of the country,&nbsp;Oil held above $85 a barrel after Saudi Arabia said that the OPEC+ alliance should maintain its cautious approach to managing global crude supplies given the threat to demand still posed by the pandemic.&nbsp;
&nbsp;

Top 5 business & market news you need to know

Start your Monday with top 5 biz bytes you need to have this morning

Top 5 Biz Bytes you need to have this morning

Earnings to IPOs, a lot of stocks and companies to watch in the news today.&nbsp;

Blockbuster earnings from Reliance and ICICI&nbsp;to a clearance (finally) for the mega Paytm&nbsp;IPO, a lot for traders to keep an eye. Here are the top stories you need to track-:
<ul>
<li>Paytm&nbsp;IPO&nbsp;Dhamaka:&nbsp;Paytm&nbsp;starts its Diwali&nbsp;celebrations early, the digital payment platform finally received a nod from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO), through which it plans to raise Rs 16,600 crore.</li>
<li>ICICI Firecracker Earnings: Country&rsquo;s second-largest private lender reported record high earnings in the quarter gone by with net income up about 30%. Brokerages such as Kotak say -&gt;&nbsp;Time to thump tables.. bank is scripting one of the best comebacks in financials in past decade.&nbsp;</li>
<li>RIL's&nbsp;Festive Results:&nbsp;Mukesh Ambani-led&nbsp;Reliance Industries&nbsp;Ltd (RIL) reported consolidated net profit of Rs 13,680 crore in the September quarter (Q2), up 43 per cent from the same period last year, on improved performance across key businesses even as finance cost fell 37% on a year-on-year basis</li>
<li>SEBI&nbsp;Sounds Alarm: The market regulator has barred&nbsp; investment advisors from advising on crypto, digital gold reiterating that these products are unregulated products.The SEBI statement assumes significance as the recent past has seen an exponential rise in the number of Indians trading in products like Bitcoins and other cryptocurrencies along with NFTs and digital gold.</li>
<li>Petrol Packs a Punch: Brace yourself for higher prices as crude continues to trade over $85/bbl and OPEC&nbsp;tells members to be cautious while managing supplies.&nbsp;</li>
</ul>

Mukesh&nbsp;Ambani&nbsp;is dressing up Reliance's acquisition&nbsp;portfolio&nbsp;this festive season.&nbsp;Reliance Brands Limited (RBL) will acquire a 40 per cent stake in Manish Malhotra's&nbsp;deign brand&nbsp;in MM Styles Pvt. Ltd.&nbsp;This is the most prominent buy by the&nbsp;Reliance Brands in the luxury ethnic wear market though the company did not disclose the deal size. Mukesh&nbsp;Ambani's Reliance already has&nbsp;Satya Paul&nbsp; part of its portfolio and also has invested in Indian menswear designer Raghavendra Rathore&rsquo;s eponymous label.For the popular designer&nbsp;Manish Malhotra, this is the first&nbsp;external investment for &nbsp;brand, which has been privately held by the creator&nbsp;himself.&nbsp;
The brand will continue to be led by Malhotra as the managing and creative director.&nbsp;Malhotra, a self-taught designer, found his calling designing costumes for blockbuster Bollywood films.


Reliance brands to acquire 40% stake in Manish Malhotra's designer label

Mukesh Ambani is dressing up Reliance's acquisition portfolio this festive season with Manish Malhotra's brand investment

Reliance acquires stake in Manish Malhotra's brand

Currently, Malhotra runs four flagship stores in the country, apart from two shop-in-shops.

Mukesh&nbsp;Ambani&nbsp;is dressing up Reliance's acquisition&nbsp;portfolio&nbsp;this festive season.&nbsp;Reliance Brands Limited (RBL) will acquire a 40 per cent stake in Manish Malhotra's&nbsp;design brand&nbsp;in MM Styles Pvt. Ltd. This is the first external investment by Manish&nbsp;Malhotra&nbsp;who has been designing for bollywood&nbsp;for over 3 decades.&nbsp;From designing looks for actors including Sridevi,&nbsp;Kajol, Raveena Tandon, Aishwarya Rai Bachchan to the generation of Kareena Kapoor Khan,&nbsp;Alia Bhatt, Janhvi Kapoor, and many others, Manish has been telling stories through all his creations for years.&nbsp; This is the most prominent buy by the&nbsp;Reliance Brands in the luxury ethnic wear market though the company did not disclose the deal size. Mukesh&nbsp;Ambani's Reliance already has&nbsp;Satya Paul part of its portfolio and also has invested in Indian menswear designer Raghavendra Rathore&rsquo;s eponymous label.&nbsp;

Enter Reliance! The Zee&nbsp;story just got a blockbuster twist to it with it's largest shareholder Invesco disclosing that a merger with&nbsp;Mukesh&nbsp;Ambani&nbsp;backed Reliance was proposed to Zee&nbsp;management in February. The disclosure comes as Punit&nbsp;Goenka, MD &amp; CEO of Zee&nbsp;Ent&nbsp;in a 6-page letter to the exchanges claimed that Invesco&nbsp;wanting to push a merger with a 'large Indian group' was acting against him as he rejected the said proposal.&nbsp;Invesco&nbsp;spokesperson stated "We wish to make clear that the potential transaction proposed by Reliance (the &ldquo;Strategic Group" referenced but not disclosed in the 12 October 2021 communication by Zee) was negotiated by and between Reliance and Mr. Goenka and others associated with Zee&rsquo;s promoter family. The role of Invesco, as Zee&rsquo;s single largest shareholder, was to help facilitate that potential transaction and nothing more."Disputing&nbsp;Goenka's claim that the merger was rejected as it was a loss for Zee&nbsp;shareholders the US based investment firm said,&nbsp; "The implication that we as a shareholder would seek out a transaction for Zee that is dilutive to the long-term interests of ordinary shareholders, including ourselves, simply defies logic."Zee's&nbsp;disclosure&nbsp;comes less than a day after Justin Leverenz, chief investment officer of Invesco Developing Markets Equities, wrote an open letter to shareholders of Zee, raising concerns over the proposed $1.6 billion takeover by Sony.

Kahani mein twist! Reliance eyed merger with Zee, Disclosures galore from Inveso & Goenka

Zee, Reliance, Sony, Invesco! The star cast of the blockbuster saga Zee is scripting on Dalal Street, shareholders await the climax. 

Zee, Reliance, Sony, Invesco! The star cast of the blockbuster Zee saga 

Invesco rejects Zee&rsquo;s claim that proposed deal was dilutive for shareholder

Enter Reliance! The Zee&nbsp;story just got a blockbuster twist to it with it's largest shareholder Invesco disclosing that a merger with&nbsp;Mukesh&nbsp;Ambani&nbsp;backed Reliance was proposed to Zee&nbsp;management in February. The disclosure comes as Punit&nbsp;Goenka, MD &amp; CEO of Zee&nbsp;Ent&nbsp;in a 6-page letter to the exchanges claimed that Invesco&nbsp;wanting to push a merger with a 'large Indian group' was acting against him as he rejected the said proposal.&nbsp; Invesco&nbsp;spokesperson stated "We wish to make clear that the potential transaction proposed by Reliance (the &ldquo;Strategic Group" referenced but not disclosed in the 12 October 2021 communication by Zee) was negotiated by and between Reliance and Mr. Goenka and others associated with Zee&rsquo;s promoter family. The role of Invesco, as Zee&rsquo;s single largest shareholder, was to help facilitate that potential transaction and nothing more." Disputing&nbsp;Goenka's claim that the merger was rejected as it was a loss for Zee&nbsp;shareholders the US based investment firm said,&nbsp; "The implication that we as a shareholder would seek out a transaction for Zee that is dilutive to the long-term interests of ordinary shareholders, including ourselves, simply defies logic." Zee's&nbsp;disclosure&nbsp;comes less than a day after Justin Leverenz, chief investment officer of Invesco Developing Markets Equities, wrote an open letter to shareholders of Zee, raising concerns over the proposed $1.6 billion takeover by Sony.

Mukesh&nbsp;Ambani&nbsp;backed Reliance Industries&nbsp;defended&nbsp; the appointment of&nbsp;Saudi Aramco&nbsp;Chairman, Yasir Al-Rumayyan as an independent director on its board reiterating that his appointment has no connection with Saudi Aramco's plans to buy a stake in its oil-to-chemicals business.
Shareholders are in the process of voting to confirm the appointment of the&nbsp;Saudi Aramco's&nbsp;chief onto RIL's&nbsp;board for 3 years.&nbsp; Reliance&nbsp;had appointed Aramco's&nbsp;Yasir Al-Rumayyan&nbsp;as an independent director on July 19 . Meanwhile a&nbsp;
As per reports&nbsp;U.S. proxy advisory research firm Glass Lewis' has advised shareholders to vote against the appointment as the Aramco&nbsp;representative as per Lewis is not truly 'independent' as the two companies are in the process of a stake sale in the oil-to-chemical business.&nbsp;
In a statement filed with the stock exchanges,&nbsp;RIL&nbsp;said its O2C (oil-to-chemicals) business is being hived off into a subsidiary, and as per the terms of the proposed transaction,&nbsp;Saudi Aramco&nbsp;will participate in the equity of the O2C subsidiary. The O2C subsidiary board may have nominees of&nbsp;Saudi Aramco&nbsp;to protect its interest,&nbsp;RIL&nbsp;said.

Reliance backs Saudi Aramco chairman appointment as independent director

Is the Aramco Chairman really an 'independent' director for Reliance board. Shareholders set to vote as Ambani backed RIL defends its position. 

Reliance backs Aramco chief's post as independent

Mukesh&nbsp;Ambani&nbsp;backed Reliance Industries&nbsp;defended&nbsp; the appointment of&nbsp;Saudi Aramco&nbsp;Chairman, Yasir Al-Rumayyan as an independent director on its board reiterating that his appointment has no connection with Saudi Aramco's plans to buy a stake in its oil-to-chemicals business. Shareholders are in the process of voting to confirm the appointment of the&nbsp;Saudi Aramco's&nbsp;chief onto RIL's&nbsp;board for 3 years.&nbsp; Reliance&nbsp;had appointed Aramco's&nbsp;Yasir Al-Rumayyan&nbsp;as an independent director on July 19 . Meanwhile a&nbsp;
As per reports&nbsp;U.S. proxy advisory research firm Glass Lewis' has advised shareholders to vote against the appointment as the Aramco&nbsp;representative as per Lewis is not truly 'independent' as the two companies are in the process of a stake sale in the oil-to-chemical business.&nbsp; In a statement filed with the stock exchanges,&nbsp;RIL&nbsp;said its O2C (oil-to-chemicals) business is being hived off into a subsidiary, and as per the terms of the proposed transaction,&nbsp;Saudi Aramco&nbsp;will participate in the equity of the O2C subsidiary. The O2C subsidiary board may have nominees of&nbsp;Saudi Aramco&nbsp;to protect its interest,&nbsp;RIL&nbsp;said.

The appointment of Yasir Al-Rumayya has taken effect from July 19, 2021 for a term of 3 years, RIL said in a statement

Mukesh&nbsp;Ambani&nbsp;backed Reliance Industries&nbsp;defended&nbsp; the appointment of&nbsp;Saudi Aramco&nbsp;Chairman, Yasir Al-Rumayyan as an independent director on its board reiterating that his appointment has no connection with Saudi Aramco's plans to buy a stake in its oil-to-chemicals business.
Shareholders are in the process of voting to confirm the appointment of the&nbsp;Saudi Aramco's&nbsp;chief onto RIL's&nbsp;board for 3 years.&nbsp; Reliance&nbsp;had appointed Aramco's&nbsp;Yasir Al-Rumayyan&nbsp;as an independent director on July 19 . Meanwhile a&nbsp;
As per reports&nbsp;U.S. proxy advisory research firm Glass Lewis' has advised shareholders to vote against the appointment as the Aramco&nbsp;representative as per Lewis is not truly 'independent' as the two companies are in the process of a stake sale in the oil-to-chemical business.&nbsp;
In a statement filed with the stock exchanges,&nbsp;RIL&nbsp;said its O2C (oil-to-chemicals) business is being hived off into a subsidiary, and as per the terms of the proposed transaction,&nbsp;Saudi Aramco&nbsp;will participate in the equity of the O2C subsidiary. The O2C subsidiary board may have nominees of&nbsp;Saudi Aramco&nbsp;to protect its interest,&nbsp;RIL&nbsp;said.

Mukesh&nbsp;Ambani&nbsp;backed Reliance seems to be setting its eyes on investing in mobile content app Glance InMobi as per reports. Bloomberg&nbsp;reports Reliance may invest upto&nbsp;$300 million for a stake in the company.&nbsp;Who is&nbsp;Glance InMobi?
Glance InMobi pushes curated news and entertainment content onto phone lock screens and also runs a short-video app. The platform leverages&nbsp;AI to personalise content&nbsp;in several Indian languages on the lock screen of Android smartphones. The startup&nbsp;turned unicorn in December 2020 when it got funding of $145 million&nbsp;from Google and existing investor Mithril Capital.What would Reliance gain?Glance claims to have more than&nbsp;115 million daily active users&nbsp;who spend an average of&nbsp;25 minutes&nbsp;on the platform per day. The reported deal would give Reliance access to valuable lock-screen real estate on the affordable mobile phones especially valuable ahead of the JioNext&nbsp;launch in collaboration with Google this festive season.&nbsp;

Reliance sets sights on buying stake in Glance InMobi: Reports

Locked Screen real estate at play as Reliance sets sights on buying stake in Glance InMobi

Reliance sets sights on buying Glance InMobi: Reports

The platform leverages AI to personalise content in several Indian languages on the lock screen of Android smartphones

Mukesh&nbsp;Ambani&nbsp;backed Reliance seems to be setting its eyes on investing in mobile content app Glance InMobi as per reports. Bloomberg&nbsp;reports Reliance may invest upto&nbsp;$300 million for a stake in the company.&nbsp; Who is&nbsp;Glance InMobi?
Glance InMobi pushes curated news and entertainment content onto phone lock screens and also runs a short-video app. The platform leverages&nbsp;AI to personalise content&nbsp;in several Indian languages on the lock screen of Android smartphones. The startup&nbsp;turned unicorn in December 2020 when it got funding of $145 million&nbsp;from Google and existing investor Mithril Capital. What would Reliance gain? Glance claims to have more than&nbsp;115 million daily active users&nbsp;who spend an average of&nbsp;25 minutes&nbsp;on the platform per day. The reported deal would give Reliance access to valuable lock-screen real estate on the affordable mobile phones especially valuable ahead of the JioNext&nbsp;launch in collaboration with Google this festive season.&nbsp;

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award that it says it needs to repay lenders.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of&nbsp;Anil Ambani&rsquo;s unit. The arbitration tribunal award is worth over Rs 4,600 crore&nbsp;including interest, according to Reliance Infrastructure&rsquo;s annual report.
Reliance Infrastructure&rsquo;s unit had in 2008 entered into a contract with Delhi Metro for running the country&rsquo;s&nbsp;first private city rail&nbsp;project till 2038. Following disputes over fee and operations in 2012, Ambani&rsquo;s firm stopped operating the capital&rsquo;s airport metro project and initiated an arbitration case against&nbsp;Delhi Metro.

Anil Ambani's Reliance Infra wins Rs 4,600 cr arbitration award against Delhi Metro

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award that it says it needs to repay lenders.
&nbsp;

Arbitration award of Rs 4,600 cr to b used to repay lender

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award worth over Rs 4,600 crore.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of&nbsp;Anil Ambani&rsquo;s unit. The arbitration tribunal award is worth over Rs 4,600 crore&nbsp;including interest, according to Reliance Infrastructure&rsquo;s annual report.
Reliance Infrastructure&rsquo;s unit had in 2008 entered into a contract with Delhi Metro for running the country&rsquo;s&nbsp;first private city rail&nbsp;project till 2038. Following disputes over fee and operations in 2012, Ambani&rsquo;s firm stopped operating the capital&rsquo;s airport metro project and initiated an arbitration case against&nbsp;Delhi Metro.

JioPhone Next that is the big buzzword in business and consumer circles as Reliance gears to launch the much awaited phone on September 10. 

JioPhone Next: Mukesh Ambani set to deliver cheapest smartphone, all the details here

Get ready to dial in your order for&nbsp;JioPhone Next, Reliance set to launch India's most affordable smartphone.

JioPhone Next

JioPhone Next Launch:&nbsp;At its AGM in June &rsquo;21, Reliance Industries announced it's&nbsp;JioPhone Next. The phone, made in collaboration with Google, is set to launch on September 10.

JioPhone Next that is the big buzzword in business and consumer circles as Reliance gears to launch the much awaited phone on September 10.&nbsp; The affordable&nbsp;smartphone made in collaboration with Google is Mukesh&nbsp;Ambani's big step in making India '2G Mukt' has he promised shareholders at the June AGM. The&nbsp;rumour mill suggests&nbsp;that the handset could cost Rs 3,499. This means&nbsp;<a href="https://www.editorji.com/story/report-jiophone-next-pre-bookings-could-go-live-from-next-week-check-price-and-specs-1630229549101" target="_blank">JioPhone Next</a> reportedly may become India&rsquo;s cheapest smartphone even as it comes with specs similar to current entry-level smartphones priced at Rs 5000-7500. Google chief Sundar&nbsp;Pichai said the device will run on a customised version of Android OS. The buzz in the tech circles&nbsp;suggest that the new JioPhone would ship with&nbsp;Android&nbsp;11 (Go edition), and offer a compact 5.5-inch HD display Affordability but smartphone&nbsp;feature&nbsp;rich, that's the promise Reliance is striving to keep. The device reportedly supports a digital assistant, so users will also be able to ask Google Assistant for the latest cricket scores or play music on Jio Saavn.
Also Read:&nbsp;<a href="https://www.editorji.com/story/google-jio-to-collaborate-on-made-for-india-jiophone-next-smartphone-1624538282354" target="_blank">Google, Jio to collaborate on made-for-India JioPhone Next smartphone</a> Media reports indicate that subscribers may be required to pay only 10% of the device cost upfront which could be sub Rs 3500; Reliance has roped in banks as well as NBFCs to help with subscriber financing.

Asia's richest Mukesh&nbsp;Ambani&nbsp;is only a&nbsp;few billion away from entering the elite $100-billion club.
As per the&nbsp;Bloomberg&nbsp;Billionaires Index, Ambani's net worth stood at $92.6 billion as he was the 12th richest person on the earth.
Ambani's net worth&nbsp;surged $3.7 billion as shares of Reliance&nbsp;Industries&nbsp;skyrocketed more than 4% on Friday's trade session. The surge in RIL's stock has been witnessed as the company targets a bigger green energy manufacturing plan.
Asia's richest man&nbsp;announced an ambitious plan to invest $10 billion this year in clean energy, marking a new pivot for India&rsquo;s most valuable company. The plan is in sync with Indian PM Narendra Modi&rsquo;s ambitions to combat climate change and curtail imports into the world&rsquo;s third-biggest oil consumer.

Mukesh Ambani close to enter $100 billion club

Asia's richest Mukesh&nbsp;Ambani&nbsp;is only a&nbsp;few billion away from entering the elite $100-billion club.

Ambani's net worth stood at $92.6 billion as he was the 12th richest person on the earth.

Asia's richest Mukesh&nbsp;Ambani&nbsp;is only a&nbsp;few billion away from entering the elite $100-billion club. As per Bloomberg's&nbsp;Billionaires Index, Ambani's net worth stood at $92.6 billion as he was the 12th richest person on the earth.
Ambani's net worth&nbsp;surged $3.7 billion as shares of Reliance&nbsp;Industries&nbsp;skyrocketed to a record high. The surge in RIL's stock has been witnessed as the company targets a bigger green energy manufacturing plan.
Asia's richest man&nbsp;announced an ambitious plan to invest $10 billion this year in clean energy, marking a new pivot for India&rsquo;s most valuable company. The plan is in sync with Indian PM Narendra Modi&rsquo;s ambitions to combat climate change and curtail imports into the world&rsquo;s third-biggest oil consumer.

Reliance is looking to acquire Netherlands' largest telecom&nbsp;operator T-Mobile.
As per some reports, the Indian telecom&nbsp;giant is set to make a $5.7 billion offer to acquire a controlling stake in T-Mobile.
Akash Ambani, who leads Reliance Jio, is personally managing the transaction.
The deal is being evaluated for three months now and Reliance is expected to make the offer within a month. It has also begun shortlisting&nbsp;lenders to fund the acquisition.
With the T-Mobile deal, RIL&nbsp;is aiming to get a foothold in the European telecom&nbsp;market and further diversify its business into other markets.
Asia&rsquo;s richest&nbsp;Mukesh&nbsp;Ambani has been trying to build a global technology company that will rival Google and Amazon Inc., diversifying away from an oil and refining business.
T-Mobile Netherlands is 75% owned by Deutsche Telekom, with Tele2 owning the rest. It has 5.7 million customers.

Reliance looking to acquire Netherlands' largest telco T-Mobile

Akash&nbsp;Ambani&nbsp;set to ring in his first big acquisition as&nbsp;Reliance looking to acquire Netherlands' largest telco T-Mobile.&nbsp;

Akash Ambani, who leads Reliance Jio, is personally managing the transaction.

Reliance is looking to acquire Netherlands' largest telecom&nbsp;operator T-Mobile.&nbsp;As per reports, the Indian telecom&nbsp;giant is set to make a $5.7 billion offer to acquire a controlling stake in T-Mobile.
Ringing in the acquisition as per the market the market buzz is the next-gen&nbsp;of the company,&nbsp;Akash Ambani, who leads Reliance Jio. Akash&nbsp;Ambani&nbsp;is personally managing the transaction as per unnamed sources.&nbsp;
The deal is being evaluated for three months now and Reliance is expected to make the offer within a month. It has also begun shortlisting&nbsp;lenders to fund the acquisition.
With the T-Mobile deal, RIL&nbsp;is aiming to get a foothold in the European telecom&nbsp;market and further diversify its business into other markets.
T-Mobile Netherlands is 75% owned by Deutsche Telekom, with Tele2 owning the rest. It has 5.7 million customers.
Asia&rsquo;s richest&nbsp;Mukesh&nbsp;Ambani has been trying to build a global technology company that will rival Google and Amazon Inc., diversifying away from an oil and refining business.

Reliance and Google co-developed affordable smartphone, Jio Phone Next, could be available for pre-bookings from next week. 

Jio Phone Next pre-bookings to start next week: Reports

The much-awaited and the 'most affordable smartphone' co-developed&nbsp;by Reliance and Google, Jio&nbsp;Phone Next, could be&nbsp;available for pre-booking soon.

Jio Phone Next pre-booking starts next week

Jio&nbsp;Phone Next is expected to be the cheapest smartphone&nbsp;by far in India and around the world.

Reliance and Google co-developed affordable smartphone, Jio&nbsp;Phone Next, could be available for pre-bookings from next week.&nbsp;However, the smartphone&nbsp;was going to be out for sale on September 10.
Some reports quoting&nbsp;sources claim that Reliance is in talks with retail partners and&nbsp;more info around the <a href="https://www.editorji.com/story/jio-5g-phone-expected-to-debut-at-reliance-agm-2021-1624437692863" target="_blank">JioPhone </a>Next will be shared with the retailers in the next few days.
As Reliance Chairman <a href="https://www.editorji.com/story/mukesh-ambani-dials-in-reliance-likely-to-acquire-just-dial-reports-1626316613464" target="_blank">Mukesh&nbsp;Ambani</a>&nbsp;highlighted during the launch, Jio&nbsp;Phone Next is expected to be the cheapest smartphone&nbsp;by far in India and around the world.
Also Watch:&nbsp;<a href="https://www.editorji.com/story/reliance-to-manufacture-covid-19-vaccine-got-drug-regulator-s-approval-1630052196381" target="_blank">Reliance to manufacture Covid-19 vaccine; got drug regulator's approval</a>

Mukesh Ambani's Reliance Industries is in talks to sell 20% stake in oil-to-chemical segment to oil giant Aramco&nbsp;for $ 25 billion dollars as per Bloomberg. Reports indicate that&nbsp;Aramco&nbsp;is said to be in talks for all-stock deal for a stake in&nbsp; Reliance unit stake.As per reports an agreement could be reached in the coming weeks.&nbsp;On the occasion of Reliance&rsquo;s 44th Annual General Meeting (AGM) on June 24, RIL board had approved the appointment of Yasir O. Al-Rumayyan, as an additional director of the company, designated as an independent directorIn 2019, Reliance announced the sale of a 20% stake to Saudi Aramco, the world's top oil exporting company. But the deal could not progress in 2020 after the oil price crash and demand destruction caused by the pandemic, which saw Aramco tighten its belt.&nbsp;

Reliance stock soars on reports of $ 25 billion Aramco Deal

It's finally here! Reliance stock soars on reports of $25 billion Aramco Deal to be announced as early as this month.&nbsp;

Reliance stock soars on reports of $25 billion Aramco Deal

In 2019, Reliance announced the sale of a 20% stake to Saudi Aramco, the world's top oil exporting company

Mukesh Ambani's Reliance Industries is in talks to sell 20% stake in it's oil-to-chemical segment to oil giant Aramco&nbsp;for $ 25 billion as per Bloomberg. Reports indicate that&nbsp;Aramco&nbsp;is said to be in talks for all-stock deal for a stake in Reliance's unit stake.As per reports an agreement could be reached in the coming weeks.&nbsp;
Also watch:&nbsp;<a href="https://www.edtr.ai/9nev" target="_blank">Aramco chief steps into Reliance board</a> On the occasion of Reliance&rsquo;s 44th Annual General Meeting (AGM) on June 24, RIL board had approved the appointment of&nbsp;Saudi Aramco chairman&nbsp;Yasir O. Al-Rumayyan, as an additional director of the company, designated as an independent director In 2019, Reliance announced the sale of a 20% stake to Saudi Aramco, the world's top oil exporting company. But the deal could not progress in 2020 after the oil price crash and demand destruction caused by the pandemic, which saw Aramco tighten its belt.&nbsp;

In a big bet towards a green future&nbsp;Mukesh Ambani&rsquo;s Reliance New Energy Solar Ltd will invest $50 million in Ambri Inc, a renewable energy storage company in the United States.&nbsp;Reliance New Energy Solar will also form an exclusive collaboration with Ambri to set up a largescale battery manufacturing facility in India, which could add scale and further bring down costs for Reliance's green energy initiative.Reliance Industries&nbsp;chairman Mukesh Ambani&nbsp;in June had announced plans to build a Giga Factory in Jamnagar for the storage of intermittent energy, as part of the Dhirubhai Ambani Green Energy Giga Complex project.

Mukesh Ambani's big solar bet, Reliance invests in new energy storage firm to make batteries as well

Moving ahead on the green promise given to shareholders in June,&nbsp;Mukesh Ambani&nbsp;has made a&nbsp;big solar bet as Reliance invests in battery making and solar storage firm.&nbsp;

Reliance Go Green

Mukesh Ambani&rsquo;s Reliance New Energy Solar Ltd will invest $50 million in Ambri Inc, a renewable energy storage company in the United State.

In a big bet towards a green future&nbsp;Mukesh Ambani&rsquo;s Reliance New Energy Solar Ltd will invest $50 million in Ambri Inc, a <a href="https://www.editorji.com/story/facebook-signs-renewable-energy-deal-in-india-1618552386333" target="_blank">renewable energy</a> storage company in the United States.&nbsp; Reliance New Energy Solar will also form an exclusive collaboration with Ambri to set up a largescale battery manufacturing facility in India, which could add scale and further bring down costs for Reliance's green energy initiative. Reliance Industries&nbsp;chairman <a href="https://www.editorji.com/story/mukesh-ambani-dials-in-reliance-likely-to-acquire-just-dial-reports-1626316613464" target="_blank">Mukesh Ambani</a>&nbsp;in June had announced plans to build a Giga Factory in Jamnagar for the storage of intermittent energy, as part of the Dhirubhai Ambani Green Energy Giga Complex project.

In a big setback for Kishore Biyani&rsquo;s Future Retail, Supreme Court on Friday ruled in favour of Amazon which would now block the sale of assets to Mukesh Ambani&rsquo;s Reliance.
Supreme Court held that the Emergency Arbitrator order is enforceable, the order had directed for a stay on Future Retail selling it&rsquo;s assets to Reliance.
In February this year, Amazon had filed a legal case against its partner Future Group challenging the Rs 24,000 cr sale to Mukesh Ambani.
Amazon had invested in Future group via coupons which meant they had the right to buy stake over 3-10 years and the e-commerce giant alleged that Biyani breached contract by entering into a sale agreement with Reliance. Amazon alleged that Future group could not sell retail assets to anyone on the "restricted persons" list, including Reliance.
With the current ruling, the Rs 24,000 cr deal between Reliance &amp; Future will not be allowed to go through.

Setback for Biyani as Supreme Court backs Bezos’ Amazon 

Supreme Court rules in favour of Amazon in case against Future Retail
Court says, Emergency Award passed by Singapore arbitrator is enforceable under Indian law
Supreme&nbsp;Court halts Rs 24,731 crore deal between Future Retail and Reliance

The Rs 24,000 cr deal between Reliance &amp; Future will not be allowed to go through.

In a big setback for Kishore Biyani&rsquo;s Future Retail, Supreme Court on Friday ruled in favour of Amazon which would now block the sale of assets to Mukesh Ambani&rsquo;s Reliance.
Supreme Court held that the Emergency Arbitrator order is enforceable, the order had directed for a stay on Future Retail selling it&rsquo;s assets to Reliance.
In February this year, Amazon had filed a legal case against its partner Future Group challenging the Rs 24,000 cr sale to Mukesh Ambani.
Amazon had invested in Future group via coupons which meant they had the right to buy stake over 3-10 years and the e-commerce giant alleged that Biyani breached contract by entering into a sale agreement with Reliance. Amazon alleged that Future group could not sell retail assets to anyone on the "restricted persons" list, including Reliance.
With the current ruling, the Rs 24,000 cr deal between Reliance &amp; Future will not be allowed to go through.

India's richest man Mukesh&nbsp;Ambani wants a bite out of the world's largest singlebrand&nbsp;restaurant chain, Subway Inc. As per reports Reliance is looking to acquire the Indian Franchise of Subway for close to $250 million.&nbsp;ET reports quoting undisclosed sources that Reliance is in conversation with PE investors to take over the 600+ Subway stores across India and is willing to pay nearly Rs 1500 cr for it.&nbsp;
Ambani&nbsp;will face off market leader Domino's&nbsp;in the&nbsp;quick service restaurant (QSR) segment who maintains the giant lead of 21% market share followed by 11% held by McDonald's in India.&nbsp;

Mukesh Ambani wants a Subway bite! Reliance Retail looking to acquire Indian franchise

Mukesh Ambani wants a Subway bite! Reliance Retail looking to acquire Indian franchise. Set to face-off with Domino's and McDonalds.&nbsp;

Mukesh Ambani has a personalised Subway order ready. 

Reports indicate that Reliance in talks to acquire&nbsp;&nbsp;US-headquartered sandwich maker's Indian franchise.

India's richest man Mukesh&nbsp;Ambani wants a bite out of the world's largest singlebrand&nbsp;restaurant chain, Subway Inc. As per reports Reliance is looking to acquire the Indian Franchise of Subway for close to $250 million.&nbsp; ET reports quoting undisclosed sources that Reliance is in conversation with PE investors to take over the 600+ Subway stores across India and is willing to pay nearly Rs 1500 cr for it.&nbsp;
Ambani&nbsp;will face off market leader Domino's&nbsp;in the&nbsp;quick service restaurant (QSR) segment who maintains the giant lead of 21% market share followed by 11% held by McDonald's in India.&nbsp;

India Inc is gearing to get back to work as large corporations look at completion of vaccination drive. Mukesh Ambani&nbsp;backed Reliance stated that more than 98% of its 2.36 lakh employees have received at least one dose against Covid-19.&nbsp;Tech giant Infosys&nbsp;that is looking for employees to return to work from offices soon has inoculated only 59% of it's workforce while peer TCS&nbsp;has covered over 70% of it's much larger employee base.&nbsp;Read/Watch Also: End of WFH era as tech titans call back employeesIndia's largest company by market value Reliance is looking at beyond just it's own employees.&nbsp;Reliance Foundation and Reliance Foundation Hospital have begun free vaccination for underprivileged communities, wherein additional 10 lakh doses will be administered under the 'We Care Initiative', they said.
Read/Watch Also:&nbsp;

Reliance takes the vaccination lead, 98% employees vaccinated

Dose of good news: Reliance takes the vaccination lead, 98% employees vaccinated

India Inc's Vaccination Drive

Reliance Foundation administers over 10 lakh COVID vaccine doses to RIL employees, family members

India Inc is gearing to get back to work as large corporations look at completion of vaccination drive. Mukesh Ambani&nbsp;backed Reliance stated that more than 98% of its 2.36 lakh employees have received at least one dose against Covid-19.&nbsp; For tech giant Infosys&nbsp;who&nbsp;is looking for employees to return to work has inoculated only 59% of it's workforce while peer TCS&nbsp;has covered over 70% of it's much larger employee base.&nbsp; Read/Watch Also: <a href="https://www.edtr.ai/9xzd">End of WFH era as tech titans call back employees</a> India's largest company by market value Reliance is looking at beyond just it's own employees.&nbsp;Reliance Foundation and Reliance Foundation Hospital have begun free vaccination for underprivileged communities, wherein additional 10 lakh doses will be administered under the 'We Care Initiative', they said.

reliance

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