Braj Mohan Chaturvedi: Reliance Money forays into Saudi Arabia

Reliance Money provides customers with access to equities, equity and commodities futures, mutual funds, life and general insurance products and off-shore investment. The company has aggressive plans to venture into the Africa, UAE, Saudi Arabia and Hong Kong. The company has already forayed into the UAE, Saudi Arabia and Hong Kong, and plans to expand its operations in over 15 countries spread across Europe, North Africa, the West Asia and South East Asia by next year.

As part of its plan to expand its global footprint, Reliance Money, the brokering arm of the Anil Dhirubhai Ambani Group, has launched a joint venture in Saudi Arabia with Bahrain-based advisory firm Riyada Consulting.

The new entity Riyada Reliance Money is the new joint venture company. The Riyada Reliance Money plans to raise $53.34 million (Rs.2.3 billion) in the first phase through sale of a stake to Gulf institutional investors. Reliance Money chief executive and director Sudip Bandyopadhyay said, "We plan to have a significant footprint in the region. We will be seeking regulatory approvals and also be looking at strategic dilution of equity to institutional investors in the Gulf region."

The venture will seek regulatory approvals for launching services, including brokering, corporate finance, investment banking and asset management.

Source: http://economictimes.indiatimes.com and http://www.reuters.com

Katyayana

This Blog is dedicated to all the Management Professionals who want to challenge the set pattern, who are practical in their approach and dont think in thin air; who believe that strategy is all about making things simple; who strongly advocate the “Rule of Simple” and who believe that impossible is nothing. - Just like Katyayana. Katyayana was a disciple of Gautama Buddha. He is also known as Kaccana or Kaccayana, Mahakatyayana, Mahakaccana and in Japanese as Kasennen. Katyayana is one of the “Ten Disciples of the Buddha”. Mahakashyapa, Ananda, Shariputra, Subhuti, Purna, Mahamaudgalyayana, Katyayana, Aniruddha, Upali and Rahula. He was foremost in explaining Dharma. He was born in a brahmin family at Ujjayini (Ujjain) and received a classical Brahminical education studying the Vedas. Katyayana was a Sanskrit grammarian, mathematician and Vedic priest who lived in ancient India, around the time of the Greco-Bactrian Kingdom. He is known for two works:- The Varttika, an elaboration on Panini’s grammar. Along with the Maha-bhasya of Patanjali, this text became a core part of the vyakarana (grammar) canon. This was one of the six Vedangas, and constituted compulsory education for Brahman students in the following twelve centuries.- He also composed one of the later Sulba Sutras, a series of nine texts on the geometry of altar constructions, dealing with rectangles, right-sided triangles, rhombuses, etc. Katyayana certainly have been a man of very considerable learning but probably not interested in mathematics for its own sake, merely interested in using it for religious purposes.He wrote the Sulbasutra to provide rules for religious rites and to improve and expand on the rules which had been given by his predecessors. Katyayana would have been a priest instructing the people in the ways of conducting the religious rites he describes. Authorship: Nettipakarana, a work of grammar, and Petakopadesa, a treatise on exegetical methodology, sulvasutras dealt with geometry.

Reliance Money forays into Saudi Arabia

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