Billionaire Mukesh Ambani has picked P.M.S. Prasad, Reliance Industries Ltd.’s petroleum division chief, to help the company start telecommunications services, two people with direct knowledge of the matter said.
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.
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.
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.
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.