Adani to buy remaining 51 per cent stake in BQ-publisher Quintillion Business Media

News Network
August 15, 2023

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Billionaire Gautam Adani's group will acquire the remaining 51 per cent stake in Quintillion Business Media Pvt Ltd to take full control of the Raghav Bahl-curated digital business news platform.

Adani Enterprises Ltd, the ports-to-energy conglomerate's flagship firm, in a stock exchange filing, said the board of its subsidiary AMG Media Networks Ltd 'has approved to enter into a binding memorandum of undertaking (MoU) with Quintillion Media Ltd for the acquisition of remaining 51 per cent stake' in the firm which operates the business and financial news digital media platform BQ Prime.

Quintillion was Adani's first bet in the Indian news industry before taking about 65 per cent stake in broadcaster NDTV in December last year.

AMG Media had previously bought a 49 per cent stake in Quintillion Business Media Ltd (QBML) for Rs 47.84 crore.

BQ Prime was earlier known as Bloomberg Quint, a former joint venture between US-based financial news agency Bloomberg Media and Bahl's Quintillion Media. Bloomberg exited that agreement in March last year.

'QBML will become a wholly-owned subsidiary of AMNL' after the acquisition, it said without disclosing the financial details of the deal.

Adani Group had set up AMG Media Networks for its foray into businesses of 'publishing, advertising, broadcasting, distribution of content over different types of media networks'.

In May 2022, AMG Media entered into a shareholders' agreement with Quintillion Media Ltd (QML) for the acquisition of QBML.

In September 2021, AMG Media Networks appointed veteran journalist Sanjay Pugalia to lead Adani Media Ventures, its media-focused company.

'The MoU records the terms of agreement and inter-se rights and obligations and other connected matters in respect of the acquisition of remaining 51 per cent equity shares of QBML by AMNL from QML,' the latest filing said. 

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News Network
December 8,2024

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The Israeli regime forces have launched a foray into Syrian soil and entered the southwestern city of Quneitra near the Israeli-occupied Golan Heights after militant groups took control of the Arab country.

The Israeli media reported on Sunday that the regime’s tanks had entered Quneitra on the border of the occupied Golan following heavy shelling of surrounding areas.

“Israeli forces pushed into the buffer zone in the Quneitra area, and launched artillery shelling in the area,” the website of the Times of Israel newspaper said.

The regime’s media also reported the entry of Israeli tanks into Khan Arnabeh, which is to the northeast of Quneitra and five kilometers from the border of the occupied Golan.

Quneitra is within the so-called buffer zone established in 1974 between the occupied Golan and Syria, but Khan Arnabeh is beyond that and the regime’s forces are not allowed to enter.

The resistance media confirmed reports of the Israeli aggression and said the development took place after the regime increased its deployment in the occupied Golan ahead of the fall of Syrian President Bashar al-Assad’s government in Damascus.

Local reports said schools were canceled in four settlements in the occupied Golan due to the “security situation,” adding that the Israeli military had set up checkpoints in the area.

At least four airstrikes targeted the Quneitra countryside after the Israeli tanks entered the area.

The occupation forces were also reported to be digging a large trench on the Syrian border and have destroyed what they claim are weapons depots.

The Israeli occupation army declared that in light of the developments in Syria, it had deployed forces to key areas along the border to ensure the security of the Israeli settlements in the occupied Golan Heights.

Israel’s opposition leader Yair Lapid also said, “In light of the developments in Syria, it is more important than ever to form a strong regional alliance with Saudi Arabia and the Abraham Accords countries to confront regional instability together.”

Earlier in the day, the armed Syrian opposition groups raided the capital Damascus, and took control of the city’s radio and television station as well as major military and security centers.

The armed groups, led by Hay’at Tahrir al-Sham (HTS) militants, announced that they had fully captured the Syrian capital and confirmed reports of the fall of the Assad government.

HTS leader Ahmed al-Shar’a, known as Abu Mohammad al-Jolani, has called on Syrian people not to get close to government institutes and organizations until an official transfer of power takes place under the supervision of the prime minister.

Syrian Prime Minister Mohammed Ghazi Jalali said the government was ready to “extend its hand” to the opposition and hand over its functions to a transitional government.

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News Network
December 9,2024

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Israeli forces have captured two towns in the southwestern Syrian province of Quneitra near the Israeli-occupied Golan Heights and are moving towards the neighboring Dara’a province, after militant groups took control of the Arab country.

Israeli troops seized the towns of Madinat al-Baath and Hader after they pushed into the buffer zone in the Quneitra area and launched artillery shelling in the strategic region.

According to Israeli media outlets, the incursion was launched following heavy shelling of surrounding areas.

Israeli army soldiers are now heading towards areas in Dara’a, located about 90 kilometers (56 miles) south of the capital Damascus.

Earlier, Israeli soldiers had taken over a Syrian army outpost at the summit of Mount Hermon in the Golan Heights.

Soldiers from Shaldag, the Israeli Air Force’s commando unit, captured the outpost “without encountering resistance,” according to Kan TV News.

The commander of the Israeli military’s Northern Command, Ori Gordin, and the commander of the Training Command, David Zini, also visited the summit, the broadcaster said.

The Syrian army reportedly left the post amid the collapse of Bashar al-Assad’s government.

Israeli media also reported the entry of the regime’s tanks into Khan Arnabeh, which is to the northeast of Quneitra and five kilometers from the border of the occupied Golan.

The regime’s prime minister Benjamin Netanyahu said on Sunday that the decades-old agreement with Syria had collapsed, and he ordered Israeli forces to grab a buffer zone in the Golan Heights after Syrian soldiers had abandoned their positions.

The Israeli military also issued a warning, calling on residents of five towns in southern Syria to stay in their homes until further notice as it carried out dozens of air strikes against Syrian military bases, facilities and weapon depots.

These towns are Ofania, Quneitra, al-Hamidiyah, western al-Samadaniyah, and al-Qahtaniyah. 

Armed groups, led by Hay’at Tahrir al-Sham (HTS) militants, announced on Sunday that they had fully captured the Syrian capital and confirmed reports of the fall of the Assad government.

Syrian Prime Minister Mohammed Ghazi Jalali said the government was ready to “extend its hand” to the opposition and hand over its functions to a transitional government.

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News Network
December 7,2024

With the surging demand for air travel between the UAE and India, limited flight capacities are driving up ticket prices. Abdulnasser Alshaali, UAE's ambassador to India, has stressed the urgent need for increasing flight operations to curb rising airfares and bolster connectivity.

Addressing the inaugural UAE-India Founders' Retreat at Dubai International Financial Centre (DIFC) on Friday, Alshaali highlighted that the imbalance between demand and available seats is unsustainable. “Airfare has grown significantly due to heightened demand. Without more flights and seat capacities, prices will keep rising,” he cautioned.

Connecting More Cities
Alshaali revealed his proposal to add more flights between the two nations, emphasizing connections to Tier 2 cities in India. “Indians prefer flying to airports closer to their hometowns, especially on specific days. Expanding flight options is vital for meeting this demand,” he explained.

The ambassador stressed that increased connectivity would yield mutual benefits, including boosting tourism, creating jobs, and fostering business opportunities. “This is about redefining our relations to ensure a win-win outcome for both nations,” he remarked.

Strengthening Ties Through Innovation
The UAE-India Founders' Retreat, co-organized by the UAE Embassy in Delhi and the UAE-India CEPA Council (UICC), hosted over 60 Indian startup founders alongside UAE business leaders, investors, and policymakers. The three-day event aimed to deepen collaboration and promote innovation between the two nations.

Prominent attendees included Essa Kazim, Governor of DIFC, Hadi Badri, CEO of Economic Development at the Dubai Department of Economy and Tourism, and Faraz Khalid, CEO of Noon.

CEPA: A Testament to Success
Alshaali lauded the Comprehensive Economic Partnership Agreement (CEPA), which has significantly boosted trade relations. “Bilateral trade between India and the UAE has exceeded $80 billion, marking over a 15% growth since CEPA. Key sectors like pharmaceuticals and agriculture, including fruits and vegetables, have seen over 30% growth,” he noted.

Enhanced air connectivity, Alshaali emphasized, is not just about convenience. “It deepens people-to-people ties and facilitates easier travel for investors, students, and businesspersons, further solidifying our partnership,” he concluded.

The call for increased flights and better transportation links is poised to redefine the dynamics of UAE-India relations, catering to the evolving needs of both nations.

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