BENGALURU (Reuters) -Reliance Retail, run by Indian billionaire Mukesh Ambani's conglomerate Reliance Industries Ltd, is in advanced talks to get the rights for beauty retailer Sephora in India, the Mint newspaper reported on Wednesday, citing two people familiar with the matter. Sephora's operations will transfer from Arvind Fashions Ltd to Reliance Retail if an agreement is reached, according to the report. Reliance, Arvind Fashions and Sephora did not immediately respond to Reuters' requests for comment.
Reliance Industries Ltd, operator of the world's biggest refining complex, will invest 750 billion rupees ($9.38 billion) over 5 years to expand its oil to chemical business, its chairman Mukesh D Ambani said. "We are committed to maximize oil to chemicals integration and convert our advantageous feedstock streams to high-value chemicals and green materials," Ambani said at an annual shareholders meeting. Reliance's two refineries at Jamnagar in western India have the capacity to process about 1.4 million barrels per day of crude.
NEW DELHI (Reuters) -India's telecom leader Reliance said on Monday it is working with Alphabet Inc's Google to launch a budget 5G smartphone as it laid out a $25 billion plan for introducing the next-generation wireless services within two months. Speaking at the company's annual general meeting, Reliance Chairman Mukesh Ambani said Jio's 5G network will be the world's largest, launching in main cities including New Delhi and Mumbai before being expanded across India by December next year.