Mukesh Ambai richest Indian; Jeff Bezos tops global rich list

Agencies
March 7, 2018

New York, Mar 7: Mukesh Ambani's net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world's wealthiest person, says Forbes.

According to Forbes' 2018 'World's Billionaires' list, Reliance Industries Chairman Mukesh Ambani's wealth surged a whopping 72.84% to $40.1 billion (Rs 2,60,622 crore) - highest among the 119 Indian billionaires on the list.

Ambani was ranked 19th globally, up from 33rd position in 2017.

"Mukesh Ambani chairs and runs $51 billion (revenues) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said.

Bezos, referred to as the "Centi-billionaire", topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune.

"Shares of his e-commerce giant Amazon rose 59% in 12 months, helping boost his fortune by $39.2 billion. It was the biggest one year gain since Forbes started tracking billionaires in 1987," it said.

The Amazon founder moved ahead of Bill Gates, who is now the second richest person globally with a fortune of $90 billion.

According to Forbes, India is home to 119 billionaires, 18 more than last year.

This year's list consists of 2,043 of the richest people in the world.

The combined net worth of this elite group is a whopping $9.1 trillion, up 18% since last year. Their average net worth is a record $4.1 billion.

Azim Premji is the second richest Indian and was ranked 58th on the overall list with a net worth of $18.8 billion, followed by Lakshmi Mittal (62nd position, net worth of $18.5 billion), Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion).

The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $ 10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $ 9.7 billion) and Cyrus Poonawalla (170, $9.1 billion).

Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

"Acharya Balkrishna derives his fortune from fast-growing consumer goods giant Patanjali Ayurved. Balkrishna owns 98.6% of the privately-held company, which he cofounded with politically well-connected yoga guru Baba Ramdev," Forbes said.

Meanwhile, Anil Ambani, the younger sibling of Mukesh Ambani was ranked 887th on the list with a net worth of $2.7 billion.

Indian jeweller Nirav Modi is among the drop-offs from the list, along with Papa John's Pizza founder John Schnatter, Christoffel Wiese of South Africa, and Saudi Arabia's Prince Alwaleed Bin Talal Al Saud.

Donald Trump, who became the first billionaire president in US history in January 2017, was ranked 766th on the list, down from 544, with a fortune of $3.1 billion.

Trump's fortune fell $400 million since March 2017.

There were 259 newcomers, including the first ever cryptocurrency billionaires, while 121 dropped out due to falling fortunes or political headwinds, including 10 Saudi Arabians.

Forbes further noted that the gap between the really rich and the merely rich continues to widen, as fortunes soar to new heights so much so that the 20 richest people on the planet are worth a staggering $1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.

"In aggregate, they may represent less than 1% of total billionaires but their riches amount to 13% of the total fortune of all billionaires worldwide," Forbes said.

The Forbes Worlds Billionaires list is a snapshot of wealth using stock prices and exchange rates from February 9, 2018.

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JP
 - 
Wednesday, 7 Mar 2018

ACHE DIN ....ATLEAST FOR AMBANI/ADANI

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News Network
July 10,2020

New Delhi, July 10: Hours before gangster Vikas Dubey was killed in an alleged police encounter on Friday, a plea was filed in the Supreme Court demanding urgent listing for action into his "possible killing" by Uttar Pradesh Police.

Advocate Ghanshyam Upadhyay had apprehended in his plea that there is a high possibility that Dubey will also be killed in a 'fake' encounter after his arrest from Ujjain in Madhya Pradesh a day ago.

Upadhyay claimed that the UP Police was expected to "concoct the same story of encounter" for Dubey like it did when four of his associates were killed after the 2 July incident.

Dubey was the primary accused in the killing of eight policemen in Kanpur on July 2. He was arrested from Ujjain on Thursday. He was killed in a police encounter, when he allegedly tried to flee on Friday morning.

"During the hunt for Dubey and co-accused, five of his accused aides were arrested/caught and then killed by the police in the name of encounter...Thus, there is every possibility that even Dubey shall be killed by Uttar Pradesh Police like other co-accused once his custody is obtained," Upadhyay feared.

He submitted that the killing of the accused by the police in the name of encounter no matter how heinous the crime was "against the rule of law and serious violation of human rights and nothing sort of Talibanisation of the country". Upadhyay sought hearing in the matter on Friday itself, citing extreme urgency.

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Agencies
June 29,2020

New Delhi, Jun 29: Fuel prices rose on Monday again after a days pause with oil marketing companies increasing the pump price of petrol by 5 paisa and diesel by 13 paisa per litre in Delhi.

In the national capital, petrol price on Monday stood at Rs 80.43 per litre while that of diesel at Rs 80.53 a litre.

With this increase, fuel prices have moved up on 22 of the last 23 days (with no rise on Sunday). Petrol prices, however, were unchanged for an additional day in between after the daily revision based on dynamic pricing was reinstated by OMCs.

Since the daily price revision resumed on June 7, petrol price has increased Rs 9.17 and diesel rose by Rs 11.14 in the national capital. In the other cities the magnitude of increase was similar.

During the past 23 days, the quantum of price hike gradually declined from around 60 paise raise for a few days, immediately post the resumption of daily price revision, to less than 20 paise during the past few days and now even less than 10 paisa per litre.

In a historic development, the price of diesel surged above that of petrol in the national capital during this period. It continues to remain higher even though on Saturday the quantum of petrol price hike was higher than that of diesel.

Officials in oil marketing companies said that it is hard to predict which of the two fuels will be priced higher in the Capital as the gap between the two is almost negligible. But petrol prices have shown more volatility in international markets that may take it ahead once again in coming days.

Apart from Delhi, the retail prices of petrol and diesel have followed the traditional path in other metros with petrol being priced at a premium of between Rs 5 and 8 per litre. The difference between the auto fuel prices in Delhi and other metros is because of the taxation structure.

While both petrol and diesel are at similar levels of taxes (state and centre) in Delhi, it is higher for petrol in many other Indian cities.

Globally diesel is priced a tad higher than petrol. In India too, the base price of diesel is slightly higher than petrol but taxation at central and state levels changed the complexion of retail prices.

If the price of petroleum products and crude hold their positions in global markets, then petrol and diesel prices rise may stop for a longer period and we may even see marginal fall in prices.

Fuel prices have been increasing since June 7 when oil companies began the daily price revision mechanism after a hiatus of 82 days during the lockdown.

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News Network
March 26,2020

New Delhi, Mar 26: The total number of people who have been confirmed positive for COVID-19 in India has risen to 649 in India, including 593 active cases and 42 people who have been cured or discharged from hospitals, according to the recent update by the Union Ministry of Health and Family Welfare (MoHFW) on Thursday morning.
The death toll due to the novel coronavirus in the country has reached 13, the official data reported. There have been 3 more deaths due to COVID-19 reported in the country since last evening.
An 85-year-old woman in Gujarat died yesterday while with the passing away of a 65-year-old woman, Madhya Pradesh reported its first COVID-19 death. Tamil Nadu also reported its first death in the state yesterday due to the deadly infection.
According to report from the Indian Council of Medical Research (ICMR) India had tested 24,254 people as of 8 p.m. on March 25.
The country is now in its second day of a 21-day lockdown that was announced by the Prime Minister Narendra Modi on Tuesday to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.
The central government had on Wednesday announced that it will provide 7 kg ration to 80 crore people in India. The Centre also said that it has earmarked Rs 1.80 lakh crores for providing wheat at Rs 2 per kg and rice at Rs 3 per kg
"Union Cabinet has decided to provide wheat at Rs 2 per kg which is worth Rs 27 per kg and rice at Rs 3 per kg which is worth Rs 37 per kg. A total amount of Rs 1 lakh 80 thousand crores is being spent for the cause. The amount will be given in advance to the states for the coming 3 months," Union Minister Sadananda Gowda said yesterday.
Those shops which are catering to essential services will continue doing so during the 21-day nationwide lockdown.

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