How Mukesh Ambani is pivoting RIL from a petroleum company to a technology corporation

As Mukesh Ambani's children play a greater role in Reliance Industries, the group is adding muscle to its digital, retail and petrochemicals businesses

Reliance Industries has kicked off the process of reducing debt it took to fund telecom and petrochemical businesses

RIL has built a unique portfolio extremely valuable assets in the world's fastest growing economy, says Mukesh Ambani; each of our businesses is contributing to the transformation of India, adds Ambani

Bharti Airtel's share price fell 4.26% to 320.50 compared to the previous close of 317.95 on the BSE.

Govt has also approved also approved to take on record the proposed changes in the indirect foreign investment in the subsidiaries of Vodafone Idea Ltd that will take place on account of non-residents subscribing to the equity shares in the fund raise.

On the economy front, the Central government has detected Rs 20,000 crore worth GST evasion so far this fiscal. On the corporate space, Airtel and Vodafone Idea considering plan to create optical fibre venture to take on Mukesh Ambani's Reliance Jio.

Bharti Airtel chairman Sunil Mittal said on Tuesday that he has 'invited' Vodafone Idea to be a partner in his fibre company Telesonic, and the two can pool assets together.

Reliance Jio seems all set for an entry in the broadband, cable TV and direct-to-home markets, courtesy of its new venture, Jio GigaFiber. The registration for JioGigaFiber will start on August 15.

Announcements other that the JioPhone that grabbed limelight during the 40th Annual General Meeting of Reliance Industries Limited on Friday.

The Indian education sector is diverse and has the challenges and opportunities of any developing nation. However, given the size of the population, both challenges and opportunities have massive leverage - if we get it right, we leapfrog into prosperity; if we don't, we are looking at a demographic disaster.

The merger will create India's fourth-largest telecom operator by customer base and revenues. The merged entity will have the second-largest spectrum holding among all operators, aggregating 448 MHz across 850, 900, 1800 and 2100 MHz bands.

Barring exceptional circumstances, Subrahmanyan is likely to be anointed by L&T's board as the next managing director & CEO. But the company he will inherit and run until it's time to pass on the baton will be a vastly different entity from the one he takes over from Naik.

At the end of 2014, China Mobile's customer base reached 807 million, representing a growth of 5.1 per cent from the previous year, of which 4G customers accounted for 90 mn.

While Airtel has introduced 4G services, Reliance Jio's launch is round the corner. Vodafone is due to launch 4G services this month while Idea will introduce it in the first half of 2016.

The sheer scale of the programme and the coordination it requires from both the government and private players may throw it off track.

Finance Minister Arun Jaitley on Saturday presented his maiden full-year Budget for the 2015-16 financial year in the Lok Sabha. Read the full text of his speech here: