Reliance - The Purbottar

24 Jun

Reliance to conclude Aramco deal this year; Aramco rep on co board

editor0 CommentsBusinessAmbani, Reliance, Saudi Aramco, Yasir Othman Al-Rumayyan

Yasir Othman Al-Rumayyan, the chairman of Saudi Aramco and the head of the Kingdom's cash-rich wealth fund PIF, will join the board of Reliance Industries Ltd as a preliminary to a USD 15 billion acquisition that is now expected to close this year. RIL chairman and Asia’s richest man Mukesh Ambani told shareholders that a deal to sell a 20 per cent stake in the company’s oil-to-chemical unit to Saudi Aramco was expected to conclude this year. “Despite several challenges due to COVID-19, we have made substantial progress in the past in our discussions (with Saudi Aramco),” he said. “I…

22 May

5% discount on RGI Health Infinity plan

editor0 CommentsHealthGENERAL INSURANCE, Health Infinity plan, Reliance

Reliance General Insurance has launched an industry first initiative where the company aims to provide additional ease to its customers who are in the process of either buying or renewing their Health Infinity insurance policy with RGI, by offering an additional one time 5% discount to customers who have taken the COVID-19 vaccination. “We want to thank IRDAI for their special approval to Covid Vaccine discount in our Health Infinity product amidst a time where everyone needs to come together and collectively combat the impact of virus. By the means of this incentive, we want to encourage individuals to prioritize…

22 Jul

Reliance-Google Smartphone Deal Threatens Chinese Firms’

editor0 CommentsBusinessGoogle, Reliance

A $4.5 billion deal under which Alphabet's Google will collaborate with Reliance Industries on a new smartphone likely heralds a big shake-up for the world's second-largest mobile market, industry executives and analysts say. Reliance boss Mukesh Ambani, announcing the partnership at his company's annual meeting last week, said Google would build an Android operating system (OS) to power a low-cost "4G or even 5G" smartphone that Reliance would design. The new phone is set to pose a major challenge to Chinese vendors such as Xiaomi and BBK Electronics, owner of the Realme, Oppo and Vivo brands, which currently dominate a $2 billion market…

17 Jul

Reliance Industries looks to storm entry-level 4G, 5G smartphone market

editor0 CommentsBusiness5G, Reliance

Four years ago, disbelief rippled through the audience at Reliance’s annual general meeting when Mukesh Ambani said he was launching 4G Volte smartphones under Reliance’s own brand name Lyf at an unbeatable price of Rs 2,999 when the average 4G smartphone at that time cost Rs 4000. On Tuesday, during the company’s first pandemic-forced virtual annual general meeting, Ambani outlined another vision to disrupt the mobile device market again. The company, with its new partner Google, will build entry-level 4G and 5G smartphones at the fraction of the existing cost based on optimisations to the Android operating system and the Playstore. If successful, the move could…