Dubai Eye 103.8

On Air Now
The Business Breakfast
6:00am - 10:00am

Listen To Dubai Eye

Mukesh Ambani bails out brother Anil ahead of jail deadline

Tuesday, 19 March 2019 10:50

Manpreet Romana / Sajjad Hussain / AFP FILES / AFP

Industrialist Anil Ambani has thanked his brother Mukesh for ensuring he didn’t have to do any jail time.

Mukesh, one of India’s richest men, has paid back Swedish telecom giant Ericsson INR 458 crores (over $77 million) a day before a Supreme Court deadline.

"My sincere and heartfelt thanks to my respected elder brother, Mukesh, and (sister-in-law) Nita for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support," a statement from Anil Ambani read.

Last month, the top court had ordered Anil's debt-hit Reliance Communications to pay Ericsson its dues within four weeks or face a three-month jail term for contempt of court.

The brothers have been caught in a bitter feud after their father, Dhirubhai Ambani, died without leaving a will in 2002.

More from International

Trump calls for Israeli PM's trial to be cancelled

US President Donald Trump on Wednesday called for Israel to pardon Prime Minister Benjamin Netanyahu or cancel his corruption trial, saying the US would save him like it did his country.
Israeli settlers raid West Bank town, troops kill 3 Palestinians

Dozens of Israeli settlers attacked Kafr Malik in West Bank on Wednesday, sparking a confrontation that ended with Israeli forces killing three Palestinians and wounding seven more.
North Korea opens landmark coastal Wonsan tourist zone

North Korea has completed construction of a massive tourist zone on its east coast, state media reported on Thursday, a key project driven by leader Kim Jong Un for years to promote tourism.
US military to create two new border zones, officials say

The Pentagon will create two new military zones along the border with Mexico, US officials said, a move that allows troops to temporarily detain migrants or trespassers.
Trump says Washington to hold talks with Iran after US 'victory'

US President Donald Trump hailed the swift end to war between Iran and Israel and said Washington would likely seek a commitment from Tehran to end its nuclear ambitions at talks with Iranian officials next week.

Coming Up on Dubai Eye

The Agenda
10:00am - 1:00pm

Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.
Afternoons with Helen Farmer
1:00pm - 4:00pm

Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE. Stay up to date with what’s happening and where to go.

BUSINESS BREAKFAST LATEST

UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the USA
UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
New iPhone Launch - Too Soon For Apple?
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Working From Home or Hardly Working?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?

On Dubai Eye

Is There Sufficient House Supply In UAE
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Noon's First Female Delivery Driver
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!