India home to 70 billionaires; Mukesh Ambani is the richest Indian

March 2, 2014

chairman_of_Reliance_IndustriesNew Delhi, Mar 2: India is home to the fifth largest group of billionaires in the world and Mukesh Ambani, chairman of Reliance Industries, is the country's richest man with a personal fortune of $18 billion, says a report.

According China-based research firm Hurun's 2014 global rich list, Mukesh Ambani was ranked 41st in the list that was topped by Bill Gates, whose personal networth stood at a whopping $68 billion.

Other noted Indians in the list include Lakshmi N Mittal ranked 49th with a personal net worth of $17 billion.

Dilip Sanghvi of Sun Pharmaceutical Industries and Wipro's Azim Premji, both ranked 77th with a personal wealth of $13.5 billion each. Tata Sons' Pallonji Mistry ranked 93rd with a personal wealth of $12 billion.

SP Hinduja and family was ranked 93rd on the list, with a net worth of $12 billion.

In the global rich list, Gates was followed by Berkshire Hathaway's Warren Buffett (2nd) with a personal wealth of $64 billion and Amancio Ortega of Inditex was ranked 3rd with $62 billion fortune.

The fourth position was claimed by Carlos Slim Helu and family ($60 billion) while Oracle's Larry Ellison with $60 billion was ranked fifth.

The report said that during the past year the Indian rupee weakened 12 per cent against the US dollar, making it harder for Indians to make the cut-off.

Despite the currency fluctuations, India has improved its position over last year. In the 2014 Hurun global rich list, the country is ranked fifth with 70 billionaires, 17 more than 2013.

Interestingly, India has higher number of these super rich individuals than Germany, Switzerland, France and Japan.

The combined wealth of the Indians billionaires comes to a staggering $390 billion.

The US is home to 481 billionaires, followed by China with 358 billionaires. The US and China now have half of all billionaires on the planet, the report said, adding that the UK, Japan, Switzerland, India and Russia are growing fast in terms of billionaires.

Moreover, Mumbai is home to 33 billionaires and is among the top six billionaire cities in the world.

New York is officially the 'Billionaire Capital of the World' as 84 of the Hurun Billionaires live in the 'Big Apple', up 14 from 70 last year.

The list is a compilation of US dollar billionaires and wealth calculations were a snapshot of the positions on January 17, 2014. The list ranked 1,867 billionaires from 68 countries. The total wealth of these super rich people amounted to an eye-popping $6.9 trillion.

Of the 1,867 billionaires, 946 saw their wealth increase and there were 482 new faces. Only 318 individuals saw their wealth decrease and 123 remained unchanged.

The average age is 64, up one year from 2013. One in nine billionaires is a female, compared with one in ten last year, the report said.

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News Network
March 31,2020

Thiruvananthapuram, Mar 31: Kerala reported its second COVID-19 death after a 68-year-old man being treated for the virus, died at the Government Medical College Hospital here in the early hours on Tuesday.

The victim, Abdul Aziz, a retired ASI hailing from Pothencode here, was admitted to the isolation ward on March 23 with the symptoms of the Corona infection. He was also suffering from lung and kidney diseases.

Though his first test result for COVID-19 turned negative, the second test result confirmed positive, official sources said.

However, it was not known from where he caught the virus infection. leaving chances for a secondary contract of a COVID-19 patient.

His funeral will take place as per the protocol, the sources added.

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News Network
May 15,2020

New Delhi, May 15: The World Bank on Friday approved $1 billion 'Accelerating India's COVID-19 Social Protection Response Program' to support the country's efforts for providing social assistance to the poor and vulnerable households, severely impacted by the pandemic.

This takes the total commitment from the World Bank towards emergency COVID-19 response in India to $2 billion.

A $1 billion support was announced last month to support India's health sector.

The response to the COVID-19 pandemic around the world has required governments around the world to introduce social distancing and lockdowns in unprecedented ways, said Junaid Ahmad, World Bank Country Director in India in a webinar interaction with the media.

These measures, intended to contain the spread of the virus have, however, impacted economies and jobs – especially in the informal sector. India with the world's largest lockdown has not been an exception to this trend, he said.

Of the $1 billion commitment, $550 million will be financed by a credit from the International Development Association (IDA) – the World Bank's concessionary lending arm and $200 million will be a loan from the International Bank for Reconstruction and Development (IBRD), with a final maturity of 18.5 years including a grace period of five years.

The remaining USD 250 million will be made available after June 30, 2020.

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Agencies
January 12,2020

Lucknow, Jan 12: The controversy over renowned Pakistani poet Faiz Ahmad Faiz's iconic poem 'Hum dekhenge' may have caused an upheaval in the literary world but it has also helped in resurrecting the famous poet for the young generations.

Students and young professionals are making a beeline for books on Faiz, his biography and his poems and book sellers are ordering supplies of Faiz books.

"Earlier, we sold hardly one book in a month or on Faiz but after the controversy, people are curious to know more about the poet and his poems. We have placed orders for the entire literary range on Faiz Ahmad Faiz," said a leading book seller in Hazratganj in Lucknow.

The bookseller said that the highest demand was for books written in Devnagri script.

"Not many in the young generation can read or write Urdu so they prefer Devnagri," the book seller said.

In Kanpur, most of the leading bookshops have already run out of stocks and book stalls in the ongoing Handloom Expo are drawing huge crowds for Faiz books.

Suchita Srivastava, B.Ed student in Kanpur said, "I have never been fond of Urdu poetry because I do not understand much of the language but after the controversy, I want to read poems of Faiz to understand what he wanted to say. I am taking help of Google to understand difficult words in Urdu."

Krishna Rao, another student at the Chandra Shekhar Azad University of Agriculture and Technology, said that since books on Faiz had been sold out, he had ordered a Kindle edition and was reading them.

"Reading his poems actually widens one's perspective of things and becomes even more precious if you take into account the time and context in which they were written," he said.

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