Saudi, US firms eye stakes in Reliance’s Jio

Reuters: Two more firms are eyeing a share of Reliance Industries Ltd’s $65-billion digital unit Jio Platforms, according to Bloomberg News, setting them up to be a part of a growing list of firms that have recently invested in the Indian company. US private equity firm General Atlantic is considering investing about $850 million to […]

Logistics major Aramex takes a 38% dent in first-quarter 2020 profit

Dubai: The COVID-19 spread did leave a dent on Aramex’s first quarter profit, which dropped 38 per cent to Dh67.4 million from Dh108 million a year ago. Revenue dip was lower, at 3 per cent, to Dh1.19 billion. “Just like all businesses around the world, the onslaught of the pandemic is challenging our operations, business […]

COVID-19 counter: India tries to relax ironclad labour laws

New Delhi: Several Indian states have abandoned key parts of their labor laws to allow companies to hire-and-fire staff at will or extend working hours as the country’s economy reels from the impact of a six-week-long lockdown aimed at containing the spread of the coronavirus. India’s economic growth is expected to see 0 per cent […]