Qatar Financial News

Reliance Industries Chairman Mukesh Ambani on Monday informed investors that the valuation of Reliance Retail rose to Rs 8.28 lakh crore today, from Rs 4.28 lakh crore in 2020. Reliance Industries Ltd (RIL) recently announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures for a 1 per cent stake. In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors.

Qantas chief executive Alan Joyce has refused to say whether more competition from Qatar Airways would lower international airfares, conceding only that prices were “coming down anyway”.

Reliance Industries Limited (RIL) on Monday held its 46th Annual General Meeting (AGM) for its shareholders. This AGM comes just weeks after the listing of Jio Financial Services on India's stock exchanges.

Indian Air Force (IAF) contingent departed for Egypt on Sunday to participate in BRIGHT STAR-23 — a biennial multilateral tri-service exercise scheduled to be held at Cairo (West) Air Base — from August 27- September 16. Notably, this is the first time that IAF is participating in BRIGHT STAR-23 which will also see the participation of contingents from the United States of America, Saudi Arabia, Greece and Qatar, the Ministry of Defence said in a statement today. The IAF contingent will consist of five MiG-29, two IL-78, two C-130 and two C-17 aircraft. Personnel from the IAF's Garud Special Forces, as well as those from the Numbers 28, 77, 78 and 81 Squadrons will be participating in the exercise, the statement said. The IAF transport aircraft will also provide airlift to approximately 150 personnel from the Indian Army. The objective of the exercise is to practice planning and execution of joint operations.

DUBAI (Reuters) — Qatar is balancing its relationships with both the United States and China and one link does not damage the other, Prime Minister Sheikh Mohammed Bin Abdulrahman al-Thani said on Friday.

Reliance Industries Limited (RIL) with its stronghold in almost every sector is set to hold its Annual Greet Meeting (AGM) on August 28 with a major focus on its financial services but announcements and a future roadmap for its retail arm could also be expected. “Expecting disclosures around the retail business to improve over the coming quarters,” said JPMorgan Chase, a leading global financial services firm. «The Street will want to know further plans for the retail business, which now forms the largest part of RIL’s valuation apart from announcements related to Jio Financial,» reported ET. Recently, even before the AGM, Reliance Retail made a big announcement that Qatar Investment Authority will pick up a nearly 1 per cent stake in the retail arm, valuing the country’s largest retail firm at $100 billion.

Reliance Industries’ annual general meeting on Monday. Like always, investors’ eyes will be glued to Chairman Mukesh Ambani’s speech, as he addresses shareholders at the 46th AGM of the conglomerate. In the last few years, some of the big-bang announcements from Ambani’s stable have usually come at the AGM. Therefore, this event has taken centre stage on Dalal Street. But this time, Ambani gave out goodies much ahead of the AGM in the form of a stake sale in Reliance Retail Ventures and the listing of Jio Financial Services. On Wednesday, the conglomerate announced that Qatar Investment Authority will pick up a nearly 1% stake in the retail arm, valuing the country’s largest retail firm at $100 billion. The valuation of the retail business of Ambani has doubled within three years, and this has increased the noise of a possible initial public offer (IPO) of Reliance Retail on the Street. At RIL’s AGM in 2019, Ambani had first announced plans to list the telecom and retail businesses of the conglomerate. In 2020, Ambani did a mega fundraising programme by selling stakes in both Reliance Jio and Reliance Retail to marquee private equity firms and sovereign wealth funds. Then, Reliance Retail Ventures raised Rs 47,265 crore, which valued the company at Rs 4.21 lakh crore. The sharp expansion in the valuation could lure private equity investors to take in some of the money back home.

Reliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering of the conglomerate's retail business, two senior industry executives aware of the plans said. This process will likely happen in tranches over 12-15 months and will be critical for the proposed IPO by the holding company of Reliance's retail operations, the executives said. The stake sale is crucial because at the current valuation of $100 billion (₹8.25 lakh crore), RRVL's IPO size will be humongous and the market may not have the liquidity to absorb such an offer. Hence, the company thinks, another 7-10% equity dilution will make the IPO size manageable to ensure its success since by then its valuation is also likely to go up, the people said. As per India's listing rules, the public shareholding, including those held by financial investors, of a company must be at least 25%.

Opposition Leader Peter Dutton has put the Albanese government’s move to block more Qatar Airways flights to Australia on the political agenda, saying it had provided “no coherent reason” for the decision.

Reliance Industries (RIL) share price dipped about half a per cent in morning trade on BSE on Thursday, a day after the company announced Qatar Investment Authority (QIA), through a wholly-owned subsidiary, will invest ₹8,278 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. This investment, the company said values RRVL at a pre-money equity value of ₹8.278 lakh crore. QIA’s investment will translate into a 0.99 per cent stake in RRVL on a fully diluted basis, RRVL said on Wednesday.

COVID they will accept a few more rounds of investment before they plan the listing," says Sushil Choksey, Indus Equity Advisors.With Qatar Sovereign Fund's investment into Reliance Retail, I mean, the retail valuation has gone up 2x in about three years. Do you think this move could act perhaps as a soft floor to Reliance Industries, if not significant upside?It certainly establishes a value that everybody in the research reports have read that Reliance Retail would be valued at 1300, 1400, 30 times sales or 33 times EV to EBITDA, so various numbers based on growth patterns and number of outlets they have established so far. Based on what I can make out, Qatar, is it the first investment which they have accepted or like three years back in COVID they will accept a few more rounds of investment before they plan the listing. So, how Mukesh Ambani's speech on AGM on Monday, 28th, pans out on this direction that needs to be seen but it is definitely a direction that now three years are done for the previous round of investment, which had come in at half the value than what current round has happened so Reliance Retail future looks promising because these people will be investing more and more money in rolling out more outlets, more formats. Now Jio Financial will be supporting all the retail distribution and marketing in terms of financing and the competitors have, so the growth path is very open and looks like Reliance Retail firmly establishes the value which all the brokerage reports have indicated so far in the region of 1300. But it is good that the market is established with a dollar check which is put in the balance sheet and it sustains from here and grows faster from the current value.This deal in a sense is only

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Reliance Industries: Sovereign wealth fund Qatar Investment Authority (QIA) has agreed to invest ₹8,278 crore ($1 billion) into the retail arm of Reliance Industries Ltd (RIL), marking a fresh round of investments into Reliance Retail Ventures Ltd (RRVL) after the country’s largest retailer raised ₹47,265 crore in 2021. QIA’s investment values RRVL at ₹8.28 trillion or $100 billion, twice its ₹4.21 trillion valuation in 2021. QIA’s investment will translate into a 0.99% stake in RRVL on a fully diluted basis, RRVL said on Wednesday.

₹614.32 crore after being sellers for the last four straight sessions on Wednesday. DIIs continued their buying streak for the fourth session and bought shares for ₹125.03 crore.Wall Street rallied to its best day since June on Wednesday after pressure that's built up on stocks from the bond market relaxed a bit.

NEW DELHI, BENGALURU : Sovereign wealth fund Qatar Investment Authority (QIA) has agreed to invest ₹8,278 crore ($1 billion) into the retail arm of Reliance Industries Ltd (RIL), marking a fresh round of investments into Reliance Retail Ventures Ltd (RRVL) after the country’s largest retailer raised ₹47,265 crore in 2021. QIA’s investment values RRVL at ₹8.28 trillion or $100 billion, twice its ₹4.21 trillion valuation in 2021.

(Reuters) — The executive board of the International Monetary Fund approved on Wednesday the fifth and sixth reviews of its program with Argentina, allowing for the disbursement of $7.5 billion the cash-strapped economy desperately needs, the Argentine government said.

₹ 8,278 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.278 lakh crore.

Reliance Industries Ltd (RIL) on Wednesday announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures. This investment values Reliance Retail Ventures at a pre-money equity value of Rs 8.28 lakh crore. The investment by the Qatari fund will translate into a nearly 1% stake in the retail major. In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors.

equality. It was the same trite old message that it’s still up to women to prove themselves. This was a golden opportunity to leverage the undeniable success of the tournament that was held in Australia and New Zealand to telegraph a message of acceptance that women are world-class competitors in sports traditionally dominated by men.

Virgin Australia boss Jayne Hrdlicka has called on the government to reconsider its decision to block Qatar Airways from adding flights to east coast cities, saying it would have an immediate impact on reducing fares and boosting tourism.

Gas prices in Europe have surged due to concerns over possible strikes at a liquefied natural gas (LNG) plant in Australia. The Offshore Alliance union has issued a warning about a potential strike at Australia's North West Shelf facility, scheduled to begin as soon as September 2 if salary negotiations remain unresolved. Bloomberg reported a roughly 10% increase in benchmark gas prices for the European Union and the United Kingdom on Monday. While gas prices had surged following Russia's incursion into Ukraine, they had subsequently decreased. Apprehensions revolve around the North West Shelf facility's role in supplying LNG globally as Australia is a prominent supplier. Alongside this facility, Chevron-operated Gorgon and Wheatstone offshore LNG plants are also undergoing strike votes, with outcomes expected on Thursday. These three plants constitute approximately 10% of the global LNG supply. Ben McWilliams, an associate fellow at Bruegel, a think tank, cautioned that these strikes could have repercussions on worldwide LNG prices. As a response to Russia's reduction in natural gas supplies during the Ukrainian conflict, countries sought alternative energy sources, with LNG being a prominent choice. Australia, alongside Qatar and the United States, is a major global LNG exporter. Cornwall Insight, a research firm, has predicted that the uncertainty surrounding Australia's gas supply could lead to significantly higher gas prices and contribute to a substantial rise in Ofgem's price cap by January. It anticipated a rise in the price cap from £1,925.71 in Q4 2023 to £2,082.56 for a typical annual household bill in Q1 2024.