Top headlines: Aramco chairman to join RIL board; Microsoft shows Windows11

Business Standard brings you the top news of the evening

JioPhone Next, co-developed with Google, to be most affordable smartphone globally: Ambani
 

Reliance Industries Chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed Made for India 'JioPhone Next', a power-packed and affordable smartphone that will be available from September 10. Ambani promised that JioPhone Next will be the most-affordable smartphone, not just in India but globally, although the pricing was not disclosed. READ MORE...

Saudi Aramco chairman to join Reliance board

Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a USD 15 billion deal. Reliance Chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. READ MORE...

Microsoft shows Windows 11, first major overhaul in six years

Microsoft Corp on Thursday showed Windows 11, which will hit markets toward the end of this year and is the first major revamp of its Windows operating system since 2015. The software that turned Microsoft into a household name and dominated personal computers for years has been overtaken in popularity by devices using Apple and Google software, but it is still core to Microsoft's strength in the corporate market. READ MORE...

RBI tightens dividend payout norms for NBFCs, links them to bad debt
 

The Reserve Bank of India (RBI) on Thursday tied down a non-banking financial company’s ability to pay dividend to certain factors, including how much bad debt it has in its book and whether it has declared it correctly. The dividend ratio, which is the ratio between the amount of the dividend payable in a year and the net profit, is now capped at 50 to 60 per cent, depending upon the nature of the business. Any extraordinary income in the year has to be excluded from profits to arrive at the dividend ratio, the RBI said. READ MORE...