CURRENT AFFAIRS

Detailed explanation-1: -MUMBAI : Reliance Industries Ltd will pick up a controlling stake in New York’s premium luxury five-star hotel, Mandarin Oriental, for $98.15 million, the company said on Sunday. Reliance Industrial Investments and Holdings Ltd will acquire the 73.37% stake held indirectly by Cayman Island-based Columbus Centre Corp.

Detailed explanation-2: -NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries Ltd on Saturday announced acquisition of New York’s premium luxury hotel Mandarin Oriental for $98.15 million.

Detailed explanation-3: -Asia’s richest man is buying the Mandarin Oriental in New York for $98 million. Asia’s biggest billionaire, Mukesh Ambani, has snapped up a controlling stake in the Mandarin Oriental in New York City for just over $98 million.

Detailed explanation-4: -Mandarin Oriental is a member of the Jardine Matheson Group, a conglomerate with strong expertise and heritage in Hong Kong and Asia, which was founded in Canton in 1832 by Scottish traders William Jardine and James Matheson.

Detailed explanation-5: -Reliance Industries Ltd (RIL) has announced the acquisition of a controlling stake of 73.37% in Mandarin Oriental New York, a premium luxury hotel in midtown Manhattan.