Motorists ride past the Jio World Plaza of Reliance in Mumbai. File/Agence France-Presse
Reliance Industries’s June-quarter profit rose 7 per cent, as double-digit growth in the Indian conglomerate’s retail and telecoms businesses helped offset its worst oil refining margins in 18 quarters.
Rebutting rumours about the financial health of Reliance Group, its Chairman Anil D. Ambani on Tuesday said the Group has met debt servicing obligation of Rs 35,000 crore during the period from April 1, 2018 to May 31, 2019.
India’s Reliance Industries, operator of the world’s biggest refining complex, posted a record net profit on Thursday as strong growth in retail and telecom businesses offset the impact of 17-quarter low refining margins. Reliance, controlled by billionaire Mukesh Ambani, said
Global shares dipped on Friday as data out of China, the eurozone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in US fiscal stimulus.
Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a clash on their Himalayan border.
Abu Dhabi National Energy Company (Taqa), announced on Thursday its earnings for the second quarter of 2020. The company’s revenues reached Dhs3.3 billion for the quarter, reflecting the COVID-19 pandemic ongoing adverse impact on energy markets.