Jio Brain and Jio Cloud to lead the #AI integration journey of #Reliance Industries

Reliance Industries have filed over 2,555 patents, mainly in the areas of bio-energy innovations, solar and other green energy sources, and high-value chemicals.

To streamline AI adoption, Reliance’s telecom arm Jio is developing a comprehensive suite of tools and platforms termed as "Jio Brain" that span the entire AI life-cycle.

Additionally Jio users will get up to 100 GB of free cloud storage as welcome offer starting Diwali this year, said Mukesh Ambani at Reliance AGM yesterday.

#MukeshAmbani at 40th RIL AGM

Acquisition of Network 18 Media will strengthen our (Reliance Jio) 4G business Mukesh Ambani at 40th RIL AGM. pic.twitter.com/TEiUz3JuOH
— Press Release Watch (@PrReleaseWatch) June 18, 2014

During the year Reliance Retail has added 367 new stores - effectively one store every day,Mukesh Ambani at 40th RIL AGM.
— Press Release Watch (@PrReleaseWatch) June 18, 2014

Last year Reliance Foundation spent Rs. 712 crore on CSR, Mukesh Ambani at 40th RIL AGM.
— Press Release Watch (@PrReleaseWatch) June 18, 2014

Last year Jamnagar refinery processed more than 68 MMT of crude, Mukesh Ambani at 40th RIL AGM.
— Press Release Watch (@PrReleaseWatch) June 18, 2014

 

Reliance has brought on-stream the polyester filament yarn facility of 395,000 MT capacity at Silvassa. Mukesh Ambani at 40th RIL AGM.
— Press Release Watch (@PrReleaseWatch) June 18, 2014

#Raghav Bahl and his wife Ritu Kapur exit Network18

Network18 founder-promoter Raghav Bahl has quit the media group after agreeing to sell controlling stake to Mukesh Ambani-led Reliance Industries Ltd (RIL) for Rs 4,000 crore.

Raghav Bahl and his wife Ritu Kapur resigned from the company following a spate of resignations through this week including that of Group CEO B Sai Kumar, CFO RDS Bawa and COO Ajay Chacko. In a letter to the employees of Network18, Bahl wrote: Yesterday, Ritu and I effectively ended our entrepreneurial leadership of N18 by agreeing to exit our shareholding.

Also Read: RIL buys majority stake in Network18 for Rs 4,000 crore for 4G content

Also Read: Rajdeep Sardesai(@sardesairajdeep) may resign from CNN-IBN soon

#RIL buys majority stake in Network18 for Rs 4,000 crore for 4G content

The Board of Reliance Industries Limited (“RIL”) today approved funding of upto Rs. 4,000 crore to Independent Media Trust (“IMT”), of which RIL is the sole beneficiary, for acquisition of control in Network 18 Media & Investments Limited (“NW18”) including its subsidiary TV18 Broadcast Limited (“TV18”) and the Open Offers to be made consequent to the acquisition.
NW18 is the owner of a suite of premier digital internet properties, e-commerce businesses and differentiated broadcast content.
IMT would use the funds to acquire control over NW18 and TV18 resulting in ownership of about 78% in NW18 and 9% in TV18 and to acquire shares tendered in the Open Offers. Further, in terms of SEBI (Substantial Acquisition and Takeover Regulations), 2011, IMT would be making Open Offers to public shareholders for acquisition of equity shares of NW18, TV18 and Infomedia Press Limited. IMT would be simultaneously making the Public Announcement under Takeover Regulations. RIL would be a Person Acting in Concert to the Open Offers.
This acquisition will differentiate Reliance’s 4G business by providing a unique amalgamation at the intersect of telecom, web and digital commerce via a suite of premier digital properties.
This suite includes In.com, IBNLive.com, Moneycontrol.com, Firstpost.com, Cricketnext.in, Homeshop18.com, Bookmyshow.com; the broadcast channels include Colors, CNN IBN, CNBC TV18, IBN7, CNBC Awaaz.

Also Read: Rajdeep Sardesai(@sardesairajdeep) may resign from CNN-IBN soon

Rajdeep Sardesai(@sardesairajdeep) may resign from CNN-IBN soon

Network18 Media and Investments’ CEO B. Sai Kumar has resigned, the company said in a filing to BSE.

The move lends credence to speculations  that significant changes would be made at the company that is effectively controlled by billionaire Mukesh Ambani.Speculation has also centred on the possible exit of founder and chairman Raghav Bahl, and senior editors including Rajdeep Sardesai, the editor-in-chief of CNN-IBN,according to Mint Newspaper.

In a press release, Bahl said: “It’s not easy to describe Sai’s role and contribution to the group. He has been one of the key pillars of the Network18 story... Needless to say the Network18 family and I shall miss him dearly. But there comes a time in life when one takes a heed to one’s calling and I wish Sai all the best for that.”
Network18 is one of India’s most diversified media conglomerates and has a presence in news and entertainment channels, movie production, print media, and digital (including both commerce and content).

The big news from Network18 is not what most people think it is; watch this space
— Kushan Mitra (@kushanmitra) May 28, 2014

Also Read: RIL buys majority stake in Network18 for Rs 4,000 crore for 4G conten

#Mukesh Ambani’s #Antilia is the most expensive home in the world;#Forbes

RIL Chairman Mukesh Ambani''s skyscraper residence in Mumbai is the most expensive billionaire home in the world, according to a Forbes list.The title of the most outrageously expensive property in the world still belongs to Mukesh Ambani’s Antilia in Mumbai, India. The 27-story, 400,000-square-foot skyscraper home–which is named after a mythical island in the Atlantic–includes six stories of underground parking, three helicopter pads, and reportedly requires a staff of 600 to keep it running. Construction costs for Antilia have been reported at a range of $1 billion to $2 billion. To put that into perspective, 7 World Trade Center, the 52-story tower that stands just north of Ground Zero in Manhattan with 1.7 million square feet of office space, cost a reported $2 billion to build.

In second place is Lily Safra’s Villa Leopolda, in Villefranche-sur-mer, France. The estate is reportedly one of several waterside homes that King Leopold II of Belgium built for his many mistresses. Set on 20 acres, the massive home was valued at 500 million euros ($750 million at the time), when Russian billionaire Mikhail Prokhorov tried to buy it in 2008. Prokhorov eventually backed out of deal, losing his 50 million euro deposit.

The third-most expensive billionaire home–and the most expensive in the United States is Fair Field, Ira Rennert’s Sagaponack, N.Y., enclave. Although Rennert built the property and it has never traded hands, the local assessor’s office peg its value at about $248.5 million in its latest (2014) tentative tax assessment.

Reliance sends defamation notice to journalist turned author Paranjoy Guha Thakurta and others

Reliance Industries Limited have sent a legal notice to journalist turned author Paranjoy Guha Thakurta, his co-authors and distributors for claims made in their book 'Gas Wars: Crony Capitalism and the Ambanis'

Describing the self-published book as a "pamphlet," the defamation notice details RIL's objections and demands that the book be withdrawn, its online sales stopped and a public apology tendered. Among those served notice are the popular online book sellers Flipkart and Amazon.

The statement from the authors of Gas Wars regarding the legal notice served by RIL and Mukesh Ambani earlier today.

1. The book ‘GAS WARS’ has been "more than fair" to Reliance Industries Limited (RIL) and Shri Mukesh D Ambani by quoting and providing their version of events, circumstances and controversies in "great length and depth", including detailed interviews with senior RIL personnel like B.K. Ganguly.

2. The authors are exercising their fundamental right to free expression enshrined in Article 19(1)(a) of the Constitution of India.

3. The legal notice sent to the authors by RIL and Shri Mukesh D Ambani is like an act of intimidation and harassment. The notice is being reviewed by our legal experts and an appropriate response is being provided as per the legal process.


About the Book: The two brothers had fought over many issues, but what sometimes got lost in the din of the battle cries was a simple fact: much of the tussle was over India’s natural resources, about how the resources were intended to be mined, marketed and monetised.
Paranjoy Guha Thakurta shows how the simmering controversy over the rich natural gas reserves in the Krishna-Godavari Basin boiled over into a primetime storm on gas pricing involving the office of the Comptroller and Auditor General of India, the Ministry of Petroleum and Natural Gas as well as the Prime Minister′s Office, even as he introduces new dimensions to it. While many reasons have been attributed to the split in the powerful Indian business family, the Ambanis, this book argues that the battle between the Ambani brothers was largely about wresting control over reserves of natural gas that are below the ocean bed along the basin of the two greatest rivers of southern India.
With painstaking research, a meticulous perusal of press reports, as well as a few surprising exclusives, Gas Wars highlights cases of crony capitalism that allowed the Reliance group to blatantly exploit loopholes which were consciously retained in the system to benefit it. Even as the book tells the story of how the country’s largest corporate conglomerate has benefited from the way government policies are structured, it lays bare the alarming facts of a natural disaster waiting to happen due to the ruthless exploitation of the country′s natural resources in order to swell the fortunes of a few.
List of Authors: Paranjoy Guha Thakurta,Subir Ghosh,Jyotirmoy Chaudhuri

Former CAG of India Shri Vinod Rai's comment on the book:
'The book is outstanding on all counts: facts, research, racy reading never permitting a dull moment, yet not straying from the well-researched content. Conveys complex issues in simple language. The prologue as the curtain raiser makes the reader involved and interested. The book will serve as a good backgrounder and a ready reckoner to auditors. The depth of knowledge and detail is commendable. The issue of crony capitalism which has gripped the country so comprehensively: this subject has been clinically analyzed in chapters 10 and 14 very effectively. All in all, a must read. Strong on content, narration and objectivity. A commendable effort. I compliment the lead writer and both the supporting authors.'

Other Details about the book

BOOK DETAILS
Publisher	Authorsupfront
Publication Year	2014
ISBN-13	9788192855127
ISBN-10	8192855120
Language	English
Binding	Hardcover
Number of Pages	588 Pages

 

Reliance blames AAP for raising gas price issue to EC

A political party in name of model code of conduct is politicizing the implementation of a cabinet decision: Reliance Statement
— ANI (@ANI_news) March 22, 2014

Reliance business jet grounded by DGCA for violation of safety rules

Reliance business jet grounded, pilot suspended by DGCA for violation of safety rules; action also likely against Jindal Steel aircraft.
— Press Trust of India (@PTI_News) March 22, 2014

Reliance Globalcom Rebrands As Global Cloud Xchange

Reliance Globalcom today unveiled the company's new brand and announced that it will begin operating as Global Cloud Xchange effective immediately.  The launch of its new corporate identity aligns with the company's strategic plan to deliver the world's first true cloud ecosystem globally.

"We are living in an era where mobile applications, social media, key technology drivers and applications will exponentially boost the volume of digital information being shared every second," said Bill Barney, CEO of Global Cloud Xchange. "Our new cloud ecosystem means delivering an interwoven portfolio of infrastructure and data center solutions with sophisticated cloud orchestration capabilities."

"As innovation continues in the software layer and big data gets even bigger, business requirements become more sophisticated. Our focus will be on further integrating our global assets to serve existing and future requirements of new media companies, carriers and enterprises. We will meet them at the crossroad of where the future Cloud will migrate," Barney added.

During the coming months, Global Cloud Xchange will continue integrating its key international assets with focus on IP and Cloud services.  Plans are also underway to further build the company's infrastructure capabilities, as well as data center footprint, especially across key emerging markets in Asia and the Middle East.

As the company focuses on delivering the world's first true cloud ecosystem, in addition to network infrastructure and data center capability enhancements, its product portfolio is also being updated to deliver additional value added solutions.

About Global Cloud Xchange
Global Cloud Xchange, formerly Reliance Globalcom, brings together the synergies of Reliance Communications’ Global Business encompassing Capacity Sales, Managed Services and a portfolio of products & services comprising of Internet Solutions and Value Added Services. Global Cloud Xchange owns the world’s largest private undersea cable system spanning 67,000 route kms which, seamlessly integrated with Reliance Communications’ 200,000 route kms of domestic optic fiber backbone, provides a robust Global Service Delivery Platform connecting 40 key business markets worldwide. In addition to providing Managed Services to more than 230 countries/territories, the company also has extensive global VPLS-enabled Ethernet network capabilities. www.globalcloudxchange.com

Truth vs Hype: AAP vs Reliance - The Gas Pricing Controversy

Truth vs Hype: The FIR filed by the Aam Aadmi Party (AAP) against Reliance Industries and ministers in the UPA government, on allegations that they jointly rigged the prices of gas, has brought into the mainstream headlines a highly technical and complex issue. This week, we (NDTV team of Reporters) try and cut through the fog of jargon, and sift through the claims and counterclaims to understand if there is any substance in the claims made by AAP, and in the defense mounted by Reliance, and the government.

Watch full show: http://www.ndtv.com/video/player/truth-vs-hype/truth-vs-hype-aap-vs-reliance-the-gas-pricing-controversy/310536

Sourced From: NDTV

Surya P. Sethi's opinion was published in The Hindu News paper on February 7, 2013 on Gas Pricing Issue...
My criticism of the gas pricing formula recommended by the Rangarajan Committee is based on the absence of a natural gas market in India and the fragmented/non-fungible global gas market. A market, and hence a market price, can only exist when full fungibility is assured and multiple buyers and sellers compete freely under rules established by enlightened, independent and watchful regulators. This is not the case in India for gas or any competing energy source. Globally, only the North American gas market exhibits these essential characteristics. I believe the Rangarajan Committee and indeed Sunjoy Joshi accept this truth and support the need for an administered price for Indian Natural Gas producers.

My criticism is not that the Rangarajan Committee chose numbers from foreign markets but that it chose numbers that do not reflect prices obtained by natural gas producers in the three markets covered. The absurdity of its formulation is best demonstrated by the inclusion of Japan that has no natural gas producer/supplier. “Curiously,” perhaps inadvertently, Mr. Joshi supports my arguments by trashing the Indian Natural Gas producers’ demand for import parity based on the economic principle of marginal cost of the highest price gas (LNG at “$15/mmbtu”) absorbed by willing Indian buyers. European Natural Gas producers do not get such parity even though LNG accounts for about 30 per cent of all European gas imports. Neither do American Natural Gas producers, even though America still imports some LNG.

Having failed to disagree while ostensibly arguing against my stand, Mr. Joshi shifts focus to issues of PSCs and subsidies that were not a part of my criticism. The landmark judgments of the Bombay High Court and the Supreme Court of India conclusively establish that Mr. Joshi’s interpretation of PSCs is incorrect. The government not only has the right but indeed the obligation to regulate both the price and distribution of natural gas produced in India.

Coming to the bogey of subsidies, one cannot talk of subsidies in isolation of the annual Central and State Taxes/Levies on the energy sector. As an example, about 22 per cent of diesel produced in India is exported at a price that is well below the “subsidized” price paid by the Indian consumers at the pump. The Central and State governments simply take a massive cut from the top of what Indian consumers pay before passing the balance to domestic producers, resulting in the so-called “under-recoveries.” The Central government does not stop here; it then passes 40 per cent of the burden of “under-recoveries” to publicly traded state owned upstream oil companies that Mr. Joshi believes receive an international price for crude.

To answer Mr. Joshi’s question “Why blame the hapless Committee”; I blame it for not addressing the anomalies/distortions plaguing prices paid to Indian Natural Gas producers. The committee has, instead, inflated the distortions at the cost of my fellow suffering Indians.

(Surya P. Sethi, formerly Principal Adviser, Power & Energy, Government of India, is Adjunct Professor, Lee Kuan Yew School of Public Policy, National University of Singapore.)

RIL-BP Announce New Deepwater Gas Condensate Discovery in Cauvery Basin

Reliance Industries Limited (RIL) and BP today announced a new gas condensate discovery off the east coast of India in the Cauvery basin.
The discovery, in the deepwater block CY-DWN-2001/2 (CYD5), is situated 62 kilometers from the coast in the Cauvery Basin and is the second gas discovery in the block. RIL is the operator with 70% equity and BP has a 30% share. Well CYIIID5-S1 was drilled in a water depth of 1,743 meters, to a total depth of 5,731 meters, with the primary objective of exploring Mesozoic-aged reservoirs.
Preliminary evaluation of well data and fluid samples indicated presence of gas condensate in the reservoir interval with a gross column of 143 meters. The well reached its total depth in early August and RIL, as operator, has conducted drill stem test (“DST”) to evaluate the potential of the discovery. The well which had the initial reservoir pressure of 8000 psi flowed gas at the rate of 35.2 million standard cubic feet per day with condensate at the rate of 413 barrels per day through 52/64” choke during DST. Well flow rates during such tests are limited by the rig and well test equipment configuration.
The Government of India (GoI) and Directorate General of Hydrocarbons have been notified of the discovery, named D-56.
BP: With its many investments in India and employing over 8,500 people in the oil, gas, lubricants and petrochemicals businesses, BP has the largest presence among all international oil companies present in India. In addition to its gas alliance with Reliance Industries Ltd., BP’s activities include: Castrol lubricants; the licensing of competitive petrochemical technologies; oil and gas trading; IT and procurement back office activities; staffing and training for its global marine fleet; and the recruitment of skilled Indian employees for its global businesses.
Reliance Industries Limited (RIL): Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of INR 371,119 crore (US$ 68.4 billion), cash profit of INR 30,505 crore (US$ 5.6 billion) and net profit of INR 21,003 crore (US$ 3.9 billion) as of March 31, 2013.
RIL is the first private sector company from India to feature in Fortune’s Global 500 list of 'World's Largest Corporations' and currently ranks 107th in terms of revenues and 128th in terms of profits in 2013. RIL ranks 68th in the Financial Times’ FT Global 500 list of the world's largest companies. RIL is ranked amongst the ’50 Most Innovative Companies - 2010' in the World in a survey conducted by the US financial publication - Business Week in collaboration with the Boston Consulting Group (BCG). In 2010, BCG also ranked RIL as the second highest ‘Sustainable Value Creators’ for creating the most shareholder value over the decade in the world