Indian billionaire Mukesh Ambani is close to signing an equal joint venture with US private equity and hedge fund giant D.E. Shaw to enter the financial services sector, a business daily reported on Wednesday, citing two people familiar with the matter. The tie-up will enable the Mukesh Dhirubhai Ambani group, whose flagship is Reliance Industries, [...]

Gold gained on Wednesday, heading for its seventh quarterly rise and its biggest increase since the end of 2007, after holdings in the world’s largest bullion-backed ETF hit a record as investors rushed for safety from tumbling stock markets. The Nikkei dropped more than 2 per cent after Wall Street tumbled in a sell-off triggered [...]

Reliance Capital Partners informed the Bombay Stock Exchange today that pursuant to the Securities and Exchange Board of India’s (Sebi) Takeover Regulations, Reliance Capital Partners, Reliance MediaWorks and Reliance Capital on June 29, have purchased 12,391 shares, which is 0.03 per cent of the additional stake in Fame India at an average price of Rs [...]

Indian flexible packaging firm Uflex Ltd, will invest over $250 million (about Rs 1150 crore) in the next two years to enhance output from its manufacturing plants. “In the coming two years, there will be an investment of $250 million to increase production at our plants in Mexico, India and Dubai”, Uflex Ltd Chairman and [...]

The nation’s largest lender State Bank has said it is borrowing funds from the market to tide over the liquidity shortage on account of the spectrum sale and advance tax payment. The bank is still borrowing from the market, State Bank chairman O P Bhatt told reporters here yesterday. SBI, along with other private and [...]