Oil Falls on Worries Over OPEC+ Likely Unwinding Production Cuts
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India's Reliance Retail sees 11.3% revenue growth in Q1 FY26
Indian conglomerate Reliance Industries Limited's (RIL) retail business has reported a 11.3% year-on-year increase in its net revenue, reaching Rs737.2bn ($8.55bn) in the first quarter (Q1) of the fiscal year 2026 (FY26), compared to Rs662.6bn in Q1 FY25. The growth is credited to a strategic expansion, omni-channel presence, customer reach, diversified consumption basket and integrated supply chain. Reliance Retail Ventures Limited (RRVL) executive director Isha Ambani stated: 'Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility." The retailer recorded a robust 12.7% year-on-year (YoY) rise in earnings before interest, taxes, depreciation and amortisation (EBITDA). RRVL reported an increase in its EBITDA margin of 20 basis points YoY, reaching 8.7%. The company attributes this rise to strategic measures, enhanced operating efficiency and stringent cost management leading to robust margins. RRVL reported that 'all segments performed well, with market leading performance in grocery and fashion'. JioMart, the company's digital grocery platform, has seen a significant uptick in its hyperlocal delivery services, with daily orders climbing 68% quarter-on-quarter and 175% YoY. The fashion and lifestyle business experienced an increase in both revenue and EBITDA, fuelled by the launch of new store formats and solid performance of its private labels. It also noted that the early onset of monsoons impacted consumer electronics and devices segment but stated that recovery is underway. RIL chairman and managing director Mukesh Ambani stated: 'Retail's business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics. We are focusing on strengthening the portfolio of own FMCG [fast-moving consumer goods] brands, which resonate with the tastes of Indian consumers. Our retail business continues to enhance its ability to fulfil everyday as well as specialised needs of all customer cohorts, through a multi-channel approach.' The momentum of store expansion picked up during the quarter with the opening of 388 new stores, reaching 19,592. "India's Reliance Retail sees 11.3% revenue growth in Q1 FY26" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Tivan, Sumitomo set up joint venture for WA fluorite project
Tivan has established an incorporated joint venture (IJV) with Sumitomo Corporation to develop the Speewah fluorite project in Western Australia, having met all conditions for the initial phase of investment (Tranche 1). Sumitomo Corporation and Japan Fluorite Corporation (JFC) – a subsidiary of Japanese Government entity the Japan Organization for Metals and Energy Security (JOGMEC) – have made an initial $5.3m (Y781.62m) equity investment in the IJV, securing a 7.5% equity interest in the project. The investment from JFC will finance a project feasibility study, which aims to establish mining and processing operations to produce high-quality acid-grade fluorspar for export. In May 2025, Tivan announced binding agreements with Sumitomo Corporation and JFC to form the IJV to develop, finance and operate the project. The conditions precedent for JFC's Tranche 1 investment included securing approval from the Australian Government Foreign Investment Review Board; Tivan's application to novate Australian Government grant funding; and the completion of the Project Restructure, which involved transferring project tenements to the IJV company, Fluorite SPV. Sumitomo Corporation has entered into binding agreements with JOGMEC, which will hold a 49% equity interest in JFC. Tivan executive chairman Grant Wilson said: 'We are greatly honoured to have secured the involvement of JOGMEC in our joint venture. We look forward to ongoing collaboration with their technical team in Tokyo. 'The pathway we have created to final investment decision is being funded by contributions from Tivan and Sumitomo Corporation, and the governments of Australia and Japan. This model of private-public risk sharing is optimal in its design for the Speewah Fluorite Project and reflects the enduring strength of the bilateral relationship between Australia and Japan.' In June, Tivan received approval from the Australian Government's Foreign Investment Review Board for its initial investment in the Speewah project through JFC. "Tivan, Sumitomo set up joint venture for WA fluorite project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Circuit-Board Maker Victory Giant Is Said to Consider Hong Kong Listing
(Bloomberg) -- Victory Giant Technology (Huizhou) Co. is considering a listing in Hong Kong that could raise about $1 billion, according to people familiar with the situation. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The maker of printed circuit boards is working with advisers on a potential second share sale that may take place as soon as this year, the people said, asking not to be identified because the information is private. Considerations are preliminary and details such as the size and timing of an offering could change, the people added. 'The company is currently in discussions with relevant intermediaries regarding its proposed H-share issuance and listing,' Victory Giant Technology said in a filing to the Shenzhen stock exchange after the Bloomberg News report. Details have not been finalized yet, the company added. Founded in 2006, Victory Giant Technology has traded on the Shenzhen stock exchange for about a decade. Its shares are up 270% this year, giving the company a market capitalization of about 134 billion yuan ($19 billion). Companies listed on mainland Chinese exchanges have been flocking to Hong Kong for fundraising, helping to drive a sixfold increase in share sales in the city in the first half of the year. With Chinese regulators signaling support for the moves, so-called A-H listings accounted for the majority of Hong Kong's proceeds from first-time share sales in the six months through June. Victory Giant Technology's first-quarter net income surged 339% from a year earlier to 921 million yuan, boosted by the artificial intelligence boom. --With assistance from Dong Cao. (Adds comment from Victory Giant in fourth paragraph) A Rebel Army Is Building a Rare-Earth Empire on China's Border Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Sign in to access your portfolio
