Although he took a major pay cut this year, Reliance Industries chairman and managing director, Mr Mukesh Ambani, hasn’t done too badly compared to his peers in the global oil industry.

The two Ambani brothers seem to be burying the hatchet — for the second time. The two groups announced Sunday that all non-compete agreements between them had been scrapped, with one exception. The Mukesh Ambani-led Reliance Industries will steer clear of gas-based power generation till 2022. This is being seen as an informal commitment to supply natural gas to the Anil Ambani-led RNRL.

Chief minister Ashok Chavan has supported state home minister Mr R.R. Patil’s statement that the Naxal movement is funded by local businessmen and the mining industry.

This time the patch-up between the warring Ambani brothers Mukesh and Anil is for real, if only partial, even though the contentious issue of gas allocation and price is yet to be discussed.

Sameer Sheikh, a Saudi Arabia-based businessman, lost 16 relatives in the crash on Saturday. All of them were going to Manga-lore to perform the last rites of his grandmother, who died on Thursday.

Commander Dilip Donde, the first Indian to circumnavigate the globe solo, arrived in the Mumbai harbour to a grand reception on Saturday.

A massive tragedy struck the life of Sameer Sheikh, a 24-year-old Saudi Arabia-based businessman who lost 16 relatives — including four close family members — in the Mangalore plane crash on Saturday

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Seen as one of the the most exciting merger and acquisition deals since Ranbaxy’s acquisition by the Japanese major Daiichi Sankyo, the US-based multinational pharma company Abbott has acquired the domestic formulations business of Piramal Healthcare Limited.

The rupee posted its biggest weekly decline in nearly 14 years after swaying within a large band on Friday as Indian markets extended losses as concerns remained over the euro zone’s growth prospects.