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Reliance Industries Ltd Chairman Mukesh Ambani with his son Akash Ambani during the 6th India Mobile Congress at Pragati Maidan in New Delhi,

Mukesh Ambani says will roll out high quality, more affordable 5G services

Billionaire Mukesh Ambani said Reliance Industries Ltd.'s 5G network will cover the remotest corners of India by December next year, providing services “more affordable than anywhere else in the world.” The technology can bring affordable, superior education and skill development to ordinary Indians and deliver high-quality healthcare to rural and remote areas, Ambani said on Saturday at India Mobile Congress, a technology and media forum.

Bidding for the Adani Enterprises share sale for retail investors started on Friday and will close on January 31. The firm has set a floor price of 3,112 rupees ($38.22) a share and a cap of <span class='webrupee'>₹</span>3,276.

Adani Group begins big share sale as short seller triggers $37 billion rout

Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam Adani - have lost a combined $36.5 billion in market capitalisation since Wednesday, with US bonds of Adani firms also falling after Hindenburg Research flagged concerns in a January 24 report about debt levels and the use of tax havens. Adani Group has dismissed the report as baseless.

Adani Ports and Adani Enterprises were the top losers on the Nifty 50 on Friday, ahead of the latter's $2.45 billion follow-on public offering (FPO).

Adani Group-Hindenburg fallout drags Indian shares to 3-month low: Report

The Nifty 50 index was down 1.09% at 17,697 as of 11.25 am IST, while the S&P BSE Sensex fell 1.16% to 59,504.92. The indexes have slid more than 1.7% each in the truncated week, with most of it caused by US short-seller Hindenburg Research's report on Wednesday that flagged concerns about the Adani Group's debt levels and use of tax havens.

A man holds a sign during a rally in support of Amazon workers' on strike, outside the Amazon warehouse, in Coventry, Britain, Wednesday.

'At Amazon, we are questioned over toilet breaks': Workers’ shocking revelation

As the workers of online retail giant Amazon hold strikes in the United Kingdom over pay, some have shared their ordeal of working in “severe” conditions at the company, with shocking claims that even their toilet breaks are timed. A BBC report cited workers at the company's Coventry warehouse in England who said they are constantly monitored and “upbraided for an idle time lasting just a few minutes”.

Finance minister Nirmala Sitharaman at an earlier halwa ceremony (PTI)

Ahead of Budget 2023, ‘Halwa’ ceremony to be held tomorrow | All you need to know

The traditional 'Halwa' ceremony, that takes place ahead of the presentation of the annual February 1 Union budget, will be held on January 26, the ministry of finance said on Wednesday. “Along with the Union FM, the Halwa ceremony will be attended by the Union ministers of State for Finance, along with Secretaries of the Ministry of Finance @FinMinIndia besides senior officials and members of the Union Budget Press,” it added.

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Friday, February 03, 2023
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