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☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ Google takes another bite out of Apple, offering Find My Device for Android phones even if they're offline
▼ + stars: | 2024-04-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

Google on Monday announced its enhanced Find My Device feature for Android phones is now available. Using a crowdsourced network of Androids, the feature can find your device even if it's offline. AdvertisementAfter missing its original summer 2023 release target, Google announced Monday that its enhanced Find My Device feature is now available for Android phones and tablets. The feature leverages Bluetooth technology across a network of over a billion Android devices to help users find their misplaced devices — even if they're offline. A representative for Apple declined to comment on the new Android feature when reached for comment by Business Insider.

Persons: —, they've Organizations: Google, Monday, Service, Motorola, Apple, Business

☆ How can foreign investors cash in on India’s growth? Here are the ETFs and stocks to buy
▼ + stars: | 2024-03-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

India's economic prospects are shining bright, attracting global investors eager to capitalize on the country's immense growth potential. The International Monetary Fund expects India's real gross domestic product (GDP) to expand by 6.5% in 2024. However, tapping into these opportunities as a foreign investor is not as straightforward as buying shares listed on the Indian stock exchanges. This allows investors outside India to buy shares more easily. ADRs are a way for investors to own shares in a foreign company, with the shares themselves held by a U.S. bank.

Persons: Malcolm Dorson, Alex Watts, GDRs, Dorson Organizations: Monetary Fund, India Active, Franklin FTSE, Interactive, London Stock Exchange, Major, Nokia, Airtel Locations: India, Franklin FTSE India, U.S, Canada, Germany, France, Finnish, China, Europe

☆ Meet the Ambanis, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars
▼ + stars: | 2024-03-01 | by ( Katie Warren | Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Mukesh Ambani is worth $111 billion, according to the Bloomberg Billionaires Index. The Ambanis live in a 27-story skyscraper in Mumbai thought to have cost $1 billion to construct. The Ambanis made headlines in 2018 for throwing one of the most lavish wedding celebrations ever for Isha Ambani and Anand Piramal. This week the family is staging an extravagant 3-day pre-wedding celebration for Anant, Mukesh Ambani's youngest son. The Ambani family home in Mumbai is a 27-story skyscraper that cost an estimated $1 billion to build.

Persons: Mukesh Ambani, —, Anant, Isha Ambani, Anand Piramal, Priyanka Chopra, Nick Jonas, Hillary Clinton, Arianna Huffington, Mukesh Ambani's, Bill Gates, Mark Zuckerberg, Rihanna, Sundar Pichai, Jay Y, Lee, Ambani Organizations: Bloomberg, Reliance Industries, Service, Tech, Guardian, Reuters, Samsung Electronics, The Locations: Mumbai, India, Gujarat, The Times

☆ Why Zuck, Ivanka Trump and the world's rich and famous are flocking to a lavish party in India
▼ + stars: | 2024-03-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Mark Zuckerberg, Bill Gates and other CEOs and celebs are at a wedding pre-party in India this weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The centibillionaire's grip on domestic commerce makes him a powerful partner for Western companies trying to break into the Indian market. Vital growth frontierUS executives are eager to cozy up to Ambani and Reliance because they see dollar signs when they look at India.

Persons: Mark Zuckerberg, Bill Gates, Mukesh, —, Sundar Pichai, Ivanka Trump, Mukesh Ambani's, Ambani, Larry Page, Sergey Brin, Anant, Radhika Merchant, Mukesh Ambani, Nita, Prodip Guha, Tim Cook, Cook, Apple's, Ted Sarandos, Meta Organizations: Apple, Microsoft, Netflix, Service, Reliance Industries, Bloomberg, Qualcomm, Intel, Hindustan Times, Amazon, Indian Locations: India, China, New Delhi

☆ Disney's $8.5 billion Reliance merger is a streaming wars win in sports-obsessed India
▼ + stars: | 2024-02-29 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Disney announced Wednesday that the companies will be merging their respective Star India and Viacom18 units into a newly created Star India joint venture, valued at roughly $8.5 billion on a post-money basis, excluding synergies. The merger is expected to have more than 750 million viewers in the rapidly growing Indian market. Cricket feverDisney acquired Indian streaming service Hotstar and Star TV channels in 2019 and had exclusive streaming rights to cricket's lucrative Indian Premier League (IPL), which it had turned into a paid service by 2020. Disney lost 4.6 million customers for its streaming service, Disney+ Hotstar, in India during the first three months of last year. "I think I said six months ago that they're [Disney] going to see profitability in streaming by the end of 2024.

Persons: Pavlo Gonchar, Walt Disney, Mukesh Ambani, Nita Ambani, Ambani, Jamie Lumley, Lumley, Jason Ware, CNBC's Organizations: Disney, Getty, Walt, Reliance, Star India, Cricket, Star, Indian Premier League, IPL, Indian Premier League cricket, CNBC, Albion Financial Locations: India

A man exercises in a gym near a barcode for Paytm, an Indian cellphone-based digital payment platform, in New Delhi on November 18, 2021. The Indian Finance Ministry, the RBI and Paytm did not immediately respond to CNBC's requests for comment. A Paytm spokesperson has denied any violation of foreign exchange laws, calling them "unfounded and factually incorrect," according to Reuters. The shares saw a massive three-day sell-off following the RBI's order last week which wiped out more than $2.5 billion in value, before a subsequent bounce. Earlier in the week, Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business.

Persons: Paytm, It's, Vijay Shekhar Sharma, Nirmala Sitharaman, Sharma, Mukesh Ambani's Organizations: Reserve Bank of, CNBC, Reuters, Indian Finance Ministry, One97 Communications, India's National Stock Exchange, Financial Services Locations: New Delhi, Reserve Bank of India

☆ India's Paytm shares pop 8% after Ambani's Jio Financial denies deal talks for wallet business
▼ + stars: | 2024-02-06 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A restaurant advertises the use of the Paytm digital payment system in Mumbai, India, on Saturday, July 17, 2021. It comes after Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business. Hindustan Times reported Monday that Jio Financial, owned by Ambani's conglomerate Reliance, would acquire Paytm's wallet business. The report sent shares of Jio Financial up as much as 16.5% on an intraday basis yesterday. Jio Financial issued a statement to the exchange late Monday to confirm it was not in talks to buy Paytm's digital wallet business.

Persons: Mukesh Ambani's, Paytm Organizations: Financial Services, Communications, India's National Stock Exchange, Reserve Bank of India, Paytm Payments Bank, Hindustan Times, Jio Locations: Mumbai, India

The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.

Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat

☆ India is a ‘perfect’ emerging market for investors, ETF expert suggests
▼ + stars: | 2023-12-23 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

India could be the ideal site for emerging market investment, according to one ETF expert. "You've got a government that's a democracy that's supporting technology, and you've got a talent pool that's really unmatched on the planet," he said. Carter, who manages the India Internet & Ecommerce ETF (INQQ), underscored the significance of India's technology investments in particular. Carter's INQQ ETF focuses on Indian e-commerce and internet companies, targeting growth in the country's digital economy. "No other country on the planet has anything like this in terms of a digital foundation for their entire economy," Carter added.

Persons: Kevin Carter, EMQQ, CNBC's, You've, you've, Carter, they've Organizations: India, Ecommerce, Reliance Industries Locations: India

☆ India is a breakout star during a tough year for emerging markets investing
▼ + stars: | 2023-12-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The India SENSEX Index, an index of 30 large companies listed on the Bombay Stock Exchange, is up 18% this year. The iShares MSCI India ETF (INDA) is at a new high. You run several international ETFs focused on the internet and ecommerce, including the India Internet & Ecommerce ETF (INQQ). The internet companies are the fastest growing consumer companies. The India Internet economy may grow 500% by 2030.

Persons: Burton Malkiel, Kevin Carter, Todd Sohn, There's Organizations: Bombay Stock Exchange, Edge, Chemical Bank, Princeton University, EMQQ, India, Ecommerce, Strategas Securities, Microsoft, Apple, India's Tata Group, Bajaj Financial, China ETF, White House Locations: Europe, India, China, United States

☆ Davos in the Desert: Jamie Dimon and other bankers visit Saudi Arabia as Israel-Hamas war rages
▼ + stars: | 2023-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Dubbed “Davos in the Desert,” the annual Future Investment Initiative (FII) will welcome about 6,000 participants from more than 90 countries over the next three days. Since the Hamas assault on October 7, Israel has widened its offensive against the Palestinian militant group and other regional enemies. Saudi Arabia’s crown prince Mohammad bin Salman, denied any personal involvement in Khashoggi’s murder but later confirmed it was carried out by Saudi officials. Bin Salman chairs the Public Investment Fund. “Very few people” had canceled plans to attend the conference, according to Richard Attias, the CEO of the FII Institute, the event’s organizer.

Persons: Jamie Dimon, Citigroup’s Jane Fraser, Defense Lloyd Austin, Larry Fink, Goldman Sachs, David Solomon, Noel Quinn, Ray Dalio, Stephen Schwarzman, Harvey Schwartz, Blackstone, Carlyle, “ We’re, it’s, ”, Fraser, Fink, “, Karen E, WeWork, Slack, Jamal Khashoggi, Saudi Arabia’s, Mohammad bin Salman, Bin Salman, bin Salman, Masayoshi, Richard Attias, Young, — Winston Lo, Michelle Toh Organizations: London CNN, “, Future Investment Initiative, Defense, Palestinian, Israel Defense Forces, West Bank, HSBC, Citigroup, Saudi, Public Investment Fund, Columbia University’s Center, Global Energy, CNN, Reliance Retail, Softbank’s Vision, Future Investment, FII Institute, Young of Columbia University Locations: Saudi Arabia, Israel, “ Davos, Gaza, Lebanon, Riyadh, Ukraine, Europe, United States, Washington, Russia, Saudi, Istanbul, Kingdom, Hong Kong

☆ South Korea Had High Hopes for 5G. What Happened?
▼ + stars: | 2023-10-13 | by ( Jiyoung Sohn | ) www.wsj.com time to read: 1 min

Journal Reports: TechnologyBillionaire Bets That a $12 Mobile Phone Can Get More of the World’s Most-Populous Country OnlineBy Newley PurnellSmartphones are financially out of reach for millions of people in India. Mukesh Ambani’s Reliance Jio Infocomm’s new device can stream music and video.

Persons: Newley Purnell, Mukesh Ambani’s Organizations: Technology Locations: India

☆ ‘Best performing emerging market’: Analysts name stocks to cash in on India’s boom
▼ + stars: | 2023-10-13 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"India has been the best performing Emerging Market in terms of USD returns at 8%, surpassing Brazil at 6%," they wrote. In terms of asset allocation, AllianceBernstein is overweight on financials, while allocating a small portion of this weight to utilities. Delhivery is another favorite stock, with a price target of 460 Indian rupees, giving it around 5% upside. Electricity generation company NTPC made the list for its opportunities in thermal, renewables and green hydrogen, the analysts wrote. The asset manager is overweight on the stock at 274 Indian Rupees representing an upside of almost 15% from its Oct. 11 close.

Persons: AllianceBernstein, Venugopal Garre, Zomato, NTPC, Paytm, it's, — CNBC's Michael Bloom Organizations: Stock, HDFC Bank, Jio Financial Services Locations: India, Brazil

"Most traffic issues occur because of non-line-of-sight scenarios," the government panel said in its 58-page draft, which is being reported for the first time by Reuters. "Most sensors do not work well in these scenarios and V2X fills the gap," it added, referring to the connected car technology commonly known as vehicle-to-everything (V2X). In Europe, the Euro NCAP rules recognise vehicle connectivity as a key milestone in crash avoidance and car ratings, the report added, while China and the United States are among the nations evaluating similar rules to improve safety. "With limitation for growth infrastructure there is a strong need to depend on technology to address challenges," the panel said in its report. The United States estimates introducing V2X connected vehicle technology could prevent at least 600,000 crashes a year.

Persons: Francis Mascarenhas, Bharat, V2X, Munsif, Aditi Shah, Aditya Kalra, Clarence Fernandez Organizations: REUTERS, Reuters, Reliance, Samsung, Qualcomm, Mahindra & Mahindra, Mahindra, carmakers, United, Thomson Locations: New Delhi, India, China, Europe, USA, DELHI, Indian, United States, Bengaluru

☆ India’s fintech partygoers nurse a needed hangover
▼ + stars: | 2023-09-11 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

MUMBAI, Sept 11 (Reuters Breakingviews) - India’s financial technology industry is suffering from overindulgence. And it was on full display at a sombre Global Fintech Festival in Mumbai last week. The South Asian country is the world’s third-largest fintech market by number of unicorns. Poster child Byju’s is squabbling with lenders as investors walk away and financial reports get delayed. Follow @ShritamaBose on XCONTEXT NEWSThe Global Fintech Fest organised by the National Payments Corporation of India and industry association Payments Council of India was held between Sept. 5 and 7 in Mumbai.

Persons: securitisation, ’, hesitatingly, Vishwas Patel, they’re, fintechs, Mukesh Ambani’s, Antony Currie, Katrina Hamlin, Thomas Shum Organizations: Reuters, Founders, Boston Consulting Group, Venture, Reserve Bank, One97 Communications, FSN, Commerce Ventures, Innoven Triple Blue Capital, XV Partners, Financial, National Payments Corporation of India, Thomson Locations: MUMBAI, Mumbai, India, fintech, Sequoia Capital’s India, Southeast Asia, Rwanda, Japan, Germany, Peru

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Sept 8 (Reuters) - U.S. chip firm Nvidia and telecom-to-retail giant Reliance on Friday announced an AI partnership to create language models, generative apps and a cloud infrastructure platform for AI development in the South Asian nation. "Reliance will create AI applications and services for their 450 million Jio (telecom) customers and provide energy-efficient AI infrastructure to scientists, developers and startups across India," Nvidia said. Nvidia globally has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. Reliance said the new AI infrastructure will speed up a range of India's key AI projects, including chatbots, drug discovery, and climate research. Separately, India's Tata Group too is set to announce an AI partnership with Nvidia later during Friday, a source with direct knowledge of the matter told Reuters.

Persons: Dado Ruvic, Mukesh Ambani, Grace Hopper Superchip, Reliance, Neil Shah, Munsif, Aditya Kalra, Sharon Singleton, Kim Coghill, David Evans Organizations: NVIDIA, REUTERS, Rights, Nvidia, Reliance, Counterpoint Research, Reuters, India's Tata Group, Thomson Locations: India, Bengaluru, Dhwani Pandya, Mumbai, New Delhi

☆ Mukesh Ambani’s succession planning is a bonus
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Mukesh Ambani (R), Chairman and Managing Director of Reliance Industries, poses with (from 2nd R to L) wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani before addressing the company's annual general meeting in Mumbai, India July 21, 2017. REUTERS/Shailesh Andrade Acquire Licensing RightsMUMBAI, Aug 29 (Reuters Breakingviews) - The bar for Mukesh Ambani to impress is rising, including on succession. Planning is sensible, yet Reliance shares closed down 1.1%. Here, the top challenge may be getting public shareholders to match the $100 billion valuation the Qataris have set for the shopping unit. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mukesh Ambani, Nita Ambani, Isha Ambani, Anant Ambani, Akash Ambani, Shailesh Andrade, Ambani, Isha, Akash, Anant, That’s, Shritama Bose, Didi, Una Galani, Thomas Shum Organizations: Reliance Industries, REUTERS, Rights, Reuters, Reliance, Reliance Retail, Jio Financial Services, X, White, Thomson Locations: Mumbai, India

[1/2] Mukesh Ambani (R), Chairman and Managing Director of Reliance Industries, poses with (from 2nd R to L) wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani before addressing the company's annual general meeting in Mumbai, India July 21, 2017. With Mukesh Ambani in his late 60s, "the time is probably right ... "This is also an attempt by Mukesh Ambani to ensure the next generation of Ambani siblings stay close to one another and do not have any discord." He is already the chairman of Reliance Jio Infocomm Limited, the telecom arm of Reliance. Akash's twin sister Isha is driving the expansion of Reliance Retail into new categories and geographies, and is already a director on the boards of the retail unit, Reliance Retail Ventures, which houses the conglomerate's bets in India's brick-and-mortar and e-commerce industries.

Persons: Mukesh Ambani, Nita Ambani, Isha Ambani, Anant Ambani, Akash Ambani, Shailesh Andrade, Isha, Akash, Ambani, Anant, Arun Dasmahapatra, Dhirubhai Ambani, Mukesh, Anil, Nita, Munsif Vengattil, Aditya Kalra, Tom Hogue, Mark Potter Organizations: Reliance Industries, REUTERS, India's Reliance Industries Ltd, Monday, Reliance, Brown University, Meta, Infocomm, Reliance Retail, Reliance Retail Ventures, Qatar Investment Authority, Investors, giga, Thomson Locations: Mumbai, India, BENGALURU, Jio, Bengaluru

☆ Indian shares open marginally higher; Jio Financial listing eyed
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 21 (Reuters) - Indian shares opened marginally higher on Monday, aided by broad sectoral gains, in contrast to weakness in Asian equities on China's smaller-than-expected rate cut, ahead of Jio Financial Services' listing on stock exchanges. The Nifty 50 (.NSEI) index was up 0.18% at 19,346.50 while the S&P BSE Sensex (.BSESN) rose 0.18% to 65,066.25 at 9:19 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen Soreng and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Eileen Soreng, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, Rights, Jio Financial, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ India's Jio launches Netflix subscription on prepaid plans
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks across the LED board showing the logo of Jio at the ongoing India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. REUTERS/Anushree Fadnavis/File Photo Acquire Licensing RightsAug 18 (Reuters) - Reliance Jio Infocomm, the telecom arm of Indian billionaire Mukesh Ambani's Reliance Industries (RELI.NS), said on Friday it has launched a Netflix subscription on prepaid plans. Jio said that around 400 million prepaid customers will get the option of availing a Netflix subscription through two packages, one priced at 1,099 rupees ($13.23), which will give access to Netflix on mobile platforms, and the other for 1,499 rupees, providing access to a basic package for large screens. Jio's peers, Bharti Airtel (BRTI.NS) and Vodafone Idea (VODA.NS), provide subscription to the Disney+ Hotstar streaming service through prepaid bundled plans. ($1 = 83.0797 Indian rupees)Reporting by Ashna Teresa Britto; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Anushree, Mukesh, Jio, Tony Zameczkowski, Ashna Teresa Britto, Sonia Cheema Organizations: Mobile, REUTERS, Reliance Industries, Netflix, Bharti Airtel, Vodafone, Disney, Jio, Thomson Locations: Pragati, New Delhi, India

☆ India's Reliance expects to soon list shares of its financial unit
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Shailesh Andrade/File PhotoNEW DELHI, Aug 6 (Reuters) - Reliance Industries Ltd (RELI.NS) hopes to soon list shares of its financial services unit, Reliance Jio Financial Services Ltd, to unlock value for shareholders, the company said in its annual report. A listing date for Jio Financial Services is widely expected to be announced at Reliance's forthcoming annual general meeting. Ambani said Jio Financial Services wants to provide simple, affordable and innovative digital first solutions. "Jio Financial Services along with its subsidiaries will leverage the technological capabilities of Relianceand digitally deliver financial services, democratising access to financial services offerings for Indian citizens," he said. Reliance has offered its shareholder one share of Jio Financial Services for one share of Reliance.

Persons: Shailesh Andrade, Mukesh Ambani, Ambani, Nidhi Verma, Giles Elgood Organizations: Reliance Industries, REUTERS, Reliance Industries Ltd, Reliance, Financial Services Ltd, Financial, Jio Financial Services, Financial Services, BlackRock Inc, Thomson Locations: Mumbai, India

☆ Reliance Retail to launch $200-laptop to replicate phone success
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 31 (Reuters) - India's Reliance Retail will launch a $200 laptop next month as the Mukesh Ambani-owned retailer looks to repeat the success of its low-cost cell phone. The 4G-enabled laptop, called JioBook, is priced at 16,499 rupees ($200.63) and will be available for purchase through the company-run retail outlets and online platform Reliance Digital from Aug. 5. Last October, Reuters had reported citing sources that JioBook will be produced locally by contract manufacturer Flex. Its wireless venture Jio Infocomm upended the Indian mobile market with cheap internet plans in 2016. ($1 = 82.2350 Indian rupees)Reporting by Hritam Mukherjee in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Mukesh Ambani, Infocomm, Hritam Mukherjee, Dhanya Ann Thoppil Organizations: Reliance, Reuters, Flex, Thomson Locations: BENGALURU, Bengaluru

☆ BlackRock returns to India, joining forces with Indian tycoon Mukesh Ambani's financial arm
▼ + stars: | 2023-07-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

The BlackRock logo is displayed at their headquarters on November 14, 2022 in New York City. BlackRock and Saudi Arabia's sovereign wealth fund signed an agreement to jointly explore infrastructure projects in the Middle East. BlackRock has joined forces with the financial services arm of India's tycoon Mukesh Ambani in what's been referred to as a "major move." The joint venture will be called Jio BlackRock. Mukesh Ambani is the founder and chairman of Indian conglomerate Reliance Industries, the country's largest listed company by market share.

Persons: Mukesh Ambani, Larry Fink Organizations: BlackRock, Jio Financial Services, Reliance Industries, Forbes Locations: BlackRock, New York City, Saudi, East, what's, India

☆ CNBC Daily Open: Powell’s conference had something for bulls and bears
▼ + stars: | 2023-07-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +5 min

Al Drago | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, Chair Jerome Powell left the door open to a subsequent rate hike, saying the central bank will make decisions "meeting by meeting." At his post-meeting press conference, Chair Jerome Powell, in other words, deftly negotiated expectations from market bulls and bears, and somehow managed to reaffirm the case of both camps. The "hawkish" part will please the bears, while the "hold" portion will appeal to the bulls.

Persons: Jerome Powell, Al Drago, Hong, Mukesh Ambani, Dow, that's, —, Powell, Frances Donald, CNBC's Fred Imbert, that'd Organizations: US Federal Reserve, Market, Bloomberg, Getty, CNBC, Federal, Dow Jones, Samsung Electronics, Wall, Revenue, Reality Labs, BlackRock, India BlackRock, Jio Financial Services, CNBC Pro, Manulife Investment Management, Nasdaq, Dow Locations: Washington , DC, Asia, Pacific, Indian

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