Reliance teams up with Saudi Aramco in biggest FDI deal

Agencies
August 12, 2019

Mumbai, Aug 12: Reliance Industries Ltd is set to sell a 20% stake in its oil-to-chemicals business to Saudi Aramco in one of the largest ever foreign investments in the country, Reliance Chairman Mukesh Ambani said on Monday.

"(This is) the biggest foreign investment in the history of Reliance." Ambani said at the company's annual general meeting in India's financial capital Mumbai.

"It is also amongst the largest foreign investments ever in India," said Ambani, adding the deal values the business at $75 billion including debt.

The partnership will cover all of Reliance's refining and petrochemicals assets, Ambani said.

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News Network
June 18,2020

New Delhi, Jun 18: For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday.

The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre.

Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi.

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

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News Network
January 8,2020

Dubai, Jan 8: Iranian state television said on Wednesday that at least 80 "American terrorists" were killed in attacks involving 15 missiles Tehran launched on US targets in Iraq, adding that none of the missiles were intercepted.

State TV, citing a senior Revolutionary Guards source, also said Iran had 100 other targets in the region in its sights if Washington took any retaliatory measures. It also said US helicopters and military equipment were "severely damaged".

Iran launched missile attacks on US-led forces in Iraq in the early hours of Wednesday in retaliation for the US drone strike on an Iranian commander whose killing has raised fears of a wider war in the Middle East.

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News Network
April 30,2020

Hyderabad, Apr 30: A 45-day-old baby boy, who tested positive for COVID-19 when he was 20-days-old, was discharged from a state-run hospital here on Wednesday after his full recovery.

The baby from Mahabubnagar, who contracted the infection from his father, was 20-days-old at the time of admission (on April 4), a COVID-19 bulletin said.

He was discharged after being cured, it said. The baby, probably the youngest to contract the infection in the country, was treated at the state-run Gandhi hospital in the city.

State Health Minister E Rajender expressed happiness over the baby being discharged after recovery.

An official release said 35 people were discharged today and 13 of them were children.

Those who were discharged thanked the doctors and medical personnel of the hospital and the minister has lauded the doctors and other medical staff for their efforts, it said.

Among those undergoing treatment at the hospital, 10 are being treated in the ICU.

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