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Anil Ambani’s first cooperation with his older brother Mukesh after eight years meant more than family peace. It has also added $3.5 billion to the market value of the younger brother’s listed companies in five weeks.
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India’s billionaire brothers Mukesh and Anil Ambani announced a 12 billion-rupee ($221 million) pact to share a fiber-optic network, their first deal since splitting the Reliance business empire founded by their father.
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Billionaire Anil Ambani blamed “vicious and illegal” trading for a one-day stock rout that wiped out $2.6 billion in the market value of his six publicly traded companies.
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Prathap C. Reddy, the 80-year-old founder of India’s biggest hospital operator, is breaking with tradition to avoid the sort of dispute which led to a feud between the nation’s richest brothers.
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India’s top court ruled in favor of billionaire Mukesh Ambani ’s Reliance Industries Ltd. in a dispute between the world’s richest brothers over gas from a field with $38 billion of reserves.
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Billionaire Mukesh Ambani ’s Reliance Industries Ltd. said it reached an agreement with D.E. Shaw Group, a closely held investment and technology development company, to offer financial services in India.
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Inner Mongolia’s rivers are feeding China’s coal industry, turning grasslands into desert. In India, thousands of farmers have protested diverting water to coal- fired power plants, some committing suicide.
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India’s Supreme Court may rule on a gas dispute between billionaire Mukesh Ambani and his estranged younger brother Anil in the next week before the retirement of the nation’s top judge.
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Anil Ambani group companies rose in Mumbai after the billionaire’s decision to remove his name from corporate branding stoked speculation he may forge closer ties with brother Mukesh, investors such as Jayesh Shroff said.
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Billionaire Anil Ambani ’s companies borrowed $3 billion from lenders including China Development Bank Corp. to gain cheaper funding after rupee borrowing costs climbed the most in four years.