Archive for the ‘Finance’ Category

Reliance Group - Making the world a better place

India’s biggest network, Reliance Group is known for its useful contribution in the field of education. Reliance Industries is among the most illustrious corporate which have groomed a tradition of thinking for the greater good of the country. Walking in the footsteps of the founder, Dhirubhai Ambani, RIL chairman, Mukesh Ambani and his wife Nita Ambani have been quite active in investing for educational initiatives. Reliance forayed into the field of education in 2003 by instituting the Dhirubhai Ambani International School (DAIS) in Mumbai. This school was established to provide education of the highest quality to almost 1000 students. After this set up, Reliance Group decided to open up more such schools in Mumbai and other metros.

Reliance started their move to offer quality education to the Indian students and also established the Dhirubhai Ambani Institute of Information and Communication Technology in 2001. In 2003, the status of the university was conferred upon this Reliance institute and in 2004 it was included in the list of universities maintained by the University Grants Commission. Ms. Nita Ambani, wife of Mr. Mukesh Ambani led the project of establishing the ‘world class’ university with undergraduate, postgraduate and Doctoral courses.

This university will have tie ups with several international universities in order to offer world class education to the students. According to Ms. Nita Ambani the university will be located either in Mumbai or Delhi and Reliance Group is looking for the space to set up this university. For all Indian students who have dreamt of pursuing MBA in one of the most prestigious B-schools in the world Stanford University, the Reliance Group has made it possible through starting the Reliance Dhirubhai Fellowship programme in 2008. Under this scholarship programme, Stanford awards five scholarships every year to Indian students.

Dhirubhai Ambani Foundation presents SSC merit rewards every year to top three meritorious students and one physically challenged students in Gujarat, and Union Territory of Daman, Diu, Dadra and Nagar Haveli. Ten meritorious students from each of the districts, selected by CBSE are also rewarded and this encourages the students to pursue further studies. These initiatives by Mukesh Ambani controlled Reliance Group will help change the educational scenario in India and for the Indian students wanting to study abroad.

Nita Ambani – The Cricket Aficionado

This year Mumbai Indians had a great run at the Indian Premier League season three and some of the credit if not all goes to the team’s co-owner and wife of Mukesh Ambani, Mrs. Nita Ambani. One of the most influential business women in the country, Nita is now a cricket aficionado with immense passion for the game and she has been educating herself on the nuances of the game since her journey with IPL began in 2008. In an interview to editor-in-chief of Indian Express, Shekhar Gupta, Ms. Ambani said that she is an obsessed mother now with all her time devoted to cricket. She admitted that IPL is like a dream run for her and this association has consumed all of her attention to the point that she ate, slept and breathed only cricket during the season. Her dedication certainly paid off in the splendid display of ‘cricket-rionics’ during the IPL 3 finale. She has stood by as a pillar of support during the good and bad times that the team has been witness to.

In 2008, Nita Ambani strengthened the Mumbai Indians team with a successful bid of seven players including Sanath Jayasuriya, Harbhajan Singh and Zaheer Khan. Before the onset of second season of Indian Premier League, Mrs. Ambani spoke to Hindustan Times and confessed that before venturing into IPL, her knowledge of cricket was very elementary and was restricted to few successful names of the cricket world. Initially she was involved only with designing of the jersey and the making of Mumbai Indians’ theme song but after a poor start in IPL 2009; she decided to accompany her team everywhere as per the schedule.

Chairman, Dhirubhai Ambani International School and co-owner of Mumbai Indians, Nita Ambani spearheaded the smartest strategy by making the bid for the most sought after player of IPL 3, Kieron Pollard. The constant travelling with the team to different locations also brought her closer to the team and helped empower the team with more confidence.

In this year’s IPL, Nita Ambani, wife of Mukesh Ambani, started out by bidding for a knockout of a team, holding up with them through all times and cheering them on in every single match the team played. According to the team and the Reliance Industries’ management, Nita is a lucky mascot for them and her presence in almost every match boosts their morale.
On being asked about the disappointment after losing the finals, Nita said, “I had said in my interview just before the finals that may the best team win. And in sports, I think, it’s not just about winning but also about handling losses. And that’s what I have learnt living with these boys for the last several weeks. Surely I was disappointed, but it is what you have gained in your journey of life that matters. And for me, cricket has been a big learning experience.” According to her, IPL will get bigger and better in the seasons to come.

Use debt relief to get out of debt

From now on, we find ourselves in the middle of a pretty bad economic recession. People have lost their jobs, but companies have gone under, and we hit a record number of home foreclosures. To top all this off, we see U.S. consumers hit a record high credit card debt. Now what most people do not know is to get out of debt free is not too hard if you take the right steps.

To begin with, most people do not know what opportunities they have available to them to get out of debt, but before we go into any of these options, debtors must be advised that almost everything they do to get out of debt will have a negative credit impact. Unless the debtor has money to pay off the debt in full, which is ninety nine percent of people do not. The number one priority when trying to get out of debt should be just that, to get out of debt, do not worry about keeping a good credit score. A credit score is something that changes like the wind and can be repaired at a later date, and also when you are in debt, do not worry about how you get yourself in more debt in the future.

That said, there are two main debt relief programs available for people who are trying to become debt free. Is consumer credit counseling and debt consolidation there? Both have their advantages and disadvantages.

A Credit Counseling Program is something that can boast of the usefulness of interest rates and consolidate payments to just one. So instead of doing a large number of payments during the month to your creditors, just to make a credit counseling agency and they will pay the creditors for you. Plus creditors will lower interest rates on these types of plans. The problem is that for many people, the payments will still simply too much. Often the payments are as much or more than what people spend on monthly minimum payment.

Another issue with the Credit Counseling is a low accuracy, because if only one payment is missed, often times the creditors will kick off the consumer of the program, then run back up the interest. And yes there is a negative effect on credit, a credit counseling plan is shown as number 7 on the credit report that looks bad. But the bottom line is to be debt free and with this plan, money and time saved compared to ride out the minimum monthly payment on what can be decades and get out of debt.

Now there is a debt relief plan called debt settlement. The benefits of this program are to save money and time. Most debtors are saving about fifty percent of what they owe now, and can realistically be debt free in just a few years. The disadvantage of this program is that in order to reach a debt settlement consumer has to make the accounts fall into default, which meant that the creditors are in a position to negotiate a settlement. So obviously, this will have a negative effect on credit score. However, when settlements starts to get your credit score will recover and repair it naturally.

Life cover

There are so many life cover plans and other policies which we see these days that it is almost inevitable to over look them. These life cover plans and packages are vital for all the things which we do these days. But the best part about them is the coverage which they provide us in every sphere of our living. The most important thing for us is to live and these plans safeguard that priority only. There are various different plans constructed in this regard and they all will suit each section of the society. A good option which you can find in the insurance sector these days is of the top quotes for critical illness cover. They are lending their service from past many fine years and till now they have done a good task too. You will find all the best features in their plans along with the modern touch. So get prepared for some thing very cool and unique. It will definitely sort out all your problems. Just check it out now……

Make the most out of your life with timely loans

Times have seriously altered and now anything can happen at any point of time. It may happen with you that just lose your job and need a loan. It can also happen that some in your family has fallen ill and you need money to bear the medical charges. Getting a cash advance at that point of time ensures that you are able to get rid of all these expenses. Such l loans can only save you from the hassles of borrowing money from pals and relatives.
personal loans for people with bad credit have also become commonplace which ensure that timely funds are obtained by people with poor credit histories. Such loans ensure that anyone with a job can get a loan. Only a simple proof of employment is required by the lenders for granting these loans. Through such evidence, the lenders get an assurance, that you have the ability to repay the loan because of the presence of a job.
You can easily apply for such loans online and it just takes some minutes for you to fill the loan form. There are no hassles involved like showing collateral or offering a loan guarantee. The immediately released loan amount provides you with the much needed relief from expenses like school fees.

Reliance Increases Fuel Sales in India

Reliance Industries Ltd., operator of the world’s largest refining complex, increased its share of sales in India to meet growing demand for fuels.

The Mumbai-based energy explorer and refiner sold 20.65 million metric tons of fuels in the South Asian nation in the nine months ended Dec. 31 compared with 8.01 million tons a year earlier, according to Bloomberg calculations based on export figures released by the company on 22nd Jan. The numbers were confirmed by a Reliance spokesman, who declined to be identified in line with company policy.

The company gave up the export-only status of its first refinery in April in light of the global recession after completing in December 2008 a 580,000 barrel-a-day refinery that caters to overseas customers. Domestic sales as a share of output rose to 47 percent in the nine months ended Dec. 31, compared with 33 percent a year earlier, according to data released by the company.

Customers include Indian Oil Corp., the largest state-run refiner, which started purchasing diesel and gasoline from Reliance in April. “Buying fuels from Reliance Group reduces our costs,” Gyan Chand Daga, marketing director at Indian Oil, said by telephone from Mumbai today. “Demand for fuels is growing and we need to meet that gap.”

In terms of fuel pricing, the government partly compensates state refiners for selling fuels below cost without extending the benefit to private refiners, including Reliance and Essar Oil Ltd. Despite this, the private companies like Reliance are offering competitive rates to local companies and refiners. This fact raises a question about the validity of the storms raised in the recent past with respect to the Reliance gas disputes about pricing that RIL has been needlessly dragged into and embroiled in.

#View videos of Mukesh Ambani

No credit check payday loans overseas

By this scheme, you can solve your all type of emergency needs. But now, you don’t need to worry of that anymore, because in these days you can look for the solution quiet easily.The borrowers have got bad credit payday loan history due to default, arrears, late payment, country court judgments mentioned against their names or in their credit record, they can also avail this loan to use for the personal needs. You can extend the repayment term by paying some extra service charges. With the borrowed amount people can fulfill their many needs easily. If you visit the website, you can see quite clearly.

Cash Advance Loans

The bulk of the online payday advance presents by certain loan concern these days let you get money within 24 hours. There will be no credit examination and typically, no faxing of documents. An online form will carry out the needful. Your loan will be approved without any hassle. However what makes vacation loans different from regular payday loans is the most purpose of the loan, that is to satisfy extra expenses. In alternative words, obtaining a vacation loan is simply using your own salary earlier and with practically no extra costs. To learn how to get a good and preferred cash loan, visit our site.

India’s Mukesh Ambani awarded Penn Engineering Dean’s Medal

Mukesh Ambani, the CMD of Reliance Industries Ltd., received the Penn Engineering Dean’s Medal here in Mumbai, India, on Friday, 8th January 2010. In a ceremony at the Trident Hotel he was honoured with the Dean’s Medal by Eduardo Glandt, Dean of Penn Engineering. The University of Pennsylvania has conferred this award on Mukesh Ambani for his visionary leadership in the application of engineering and technology for the betterment of society and mankind. The award is a testimony to this global visionary; who runs India’s biggest corporate house, Reliance Industries Ltd.

The keynote address for the event was made by Dean Glandt who introduced Mukesh Ambani warmly, in a well attended gathering in the Regal Room of the Trident Hotel. Amidst the attendees were industrialists, celebrities and the Indian media including Kumaramangalam Birla, Anand Mahindra and Sachin Tendulkar. In his speech Mr. Ambani announced the newest project of the Reliance Foundation – a university in India, to be headed by Mrs. Nita Ambani. He also expressed with much passion the requirement for a global paradigm shift to include a focus on real engineering instead of financial engineering in light of the recent economic crisis.

Mr. Mukesh Ambani has come a long way having started his corporate journey in 1981 when he joined his father, late Mr. Dhirubhai Ambani, the founding chairman of Reliance. He initiated Reliance’s vertical integration journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and eventually oil and gas exploration and production. He then led the creation of 51 new, world-class manufacturing facilities encompassing diverse technologies that increased Reliance’s manufacturing capacities manifold.

The Jamnagar Refinery in Gujarat which is now the world’s largest grassroots petroleum refinery was the brainchild of Mukesh Ambani. Dhirubhai’s dream project Reliance Infocomm, which is now one of the largest telecommunications companies in India and has emerged as Reliance Communications Limited was also set up by Mukesh Ambani. He is currently steering Reliance’s development of a pan-India retail network, a transformational initiative connecting, rural and urban India.

In a recent study by the Harvard Business Review, Mukesh Ambani has been recognized as the fifth best CEO of the world in a review, which surveyed a total of 1,999 CEOs of large public traded companies across the globe. In the course of his career he has been conferred as many as 5 awards by NDTV, a leading news channel in India. He has also featured in the survey of ‘Top 50 Most Respected Business Leaders of the World’ conducted by PricewaterhouseCoopers in 2002 as well as 2004. At the global level Mukesh Ambani has been felicitated twice by the United States India Business Council. He is also the only Indian CEO to be invited thus far to become a Council Member of World Business Council for Sustainable Development (WBCSD) in July 2007.

Reliance Industries outraged with YSR helicopter crash accusations

Reliance Industries Ltd., today in a statement said, “We are shocked and outraged at the false, malicious, motivated and libelous news on TV5 channel concerning the fatal mishap of Shri Y. S. Rajasekhara Reddy’s helicopter. We condemn, rebut and reject the allegation with the contempt it deserves. It is the dirty handiwork of our business rivals in cohoots with TV5.”

The statement followed the accusations made by TV5 that allege RIL’s involvement with the helicopter crash of Y. S. Rajasekhara Reddy. The accusations were made by the channel citing an unsubstantiated news report from a little known website.

Following the allegations by TV5, a couple of other Telugu news channels aired the same report. The repercussion of the allegations were seen when irate Congress workers went on a rampage of damaging retail outlets of Reliance in Andhra Pradesh.

Source: http://ril.com/downloads/pdf/PR08012010.pdf