Mukesh Ambani emerges richest Indian for 11th consecutive year in Forbes list

Agencies
October 4, 2018

New Delhi, Oct 4: Reliance Industries' Chairman Mukesh Ambani has emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion, according to Forbes magazine.

Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.

As per the 'Forbes India Rich List 2018', Wipro Chairman Azim Premji has retained the second spot, adding USD 2 billion to his wealth at USD 21 billion; while ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion, increasing his wealth by USD 1.8 billion.

Mittal is followed by the Hinduja brothers at with a net worth of USD 18 billion and Pallonji Mistry with USD 15.7 billion.

Other business magnates making the top 10 list are Shiv Nadar (USD 14.6 billion), Godrej family (USD 14 billion), Dilip Shanghvi (USD 12.6 billion), Kumar Birla (USD 12.5 billion) and Gautam Adani (USD 11.9 billion).

"In a challenging year, which saw the rupee taking a tumble, the country's 100 richest collectively managed to hold their own. Moreover, new billionaires continue to be minted, which indicates that India's entrepreneurial energy is upbeat as ever," said Naazneen Karmali, India Editor of Forbes Asia.

Biotechnology pioneer Kiran Mazumdar-Shaw has emerged as the biggest percentage gainer of the year. One of only four women on the list, her net worth rose 66.7 per cent to USD 3.6 billion. In terms of net worth, she stood at 39th spot.

"Despite a rout in the rupee that practically wiped out the Indian stock market's 14 per cent rise from a year ago, tycoons on the 2018 Forbes India Rich List saw a modest gain in their combined wealth to USD 492 billion," a Forbes India statement said, adding that among the nation's 100 richest, 11 saw their wealth jump by USD 1 billion or more.

"The growth in the overall wealth of India's richest in a challenging year is one indicator of the country's economic advancement. New faces on the list - five of them - are also an encouraging sign of the rise of domestic mega-firms, many with a presence in global markets," Forbes India Editor Brian Carvalho said.

According to the statement, this list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and India's regulatory agencies.

"Public fortunes were calculated based on stock prices and exchange rates as of September 21. Private companies were valued based on similar companies that are publicly traded," it said.

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Thursday, 4 Oct 2018

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Agencies
June 17,2020

New Delhi, Jun 17: AAP MLA and national spokesperson Atishi has tested positive for COVID-19, her party colleagues said on Wednesday.

Delhi Chief Minister Arvind Kejriwal took to Twitter to wish her speedy recovery.

"Atishi ji has played an important role in the fight against corona. I hope that she will get healthy soon and again get involved in serving the people," Kejriwal tweeted in Hindi.

According to sources, Atishi was tested on Tuesday for COVID-19 and her report came positive today.

She is presently under home quarantine, the sources said.

"Get well soon Atishi, recover soon from Corona," AAP MLA Saurabh Bhardwaj tweeted.

Atishi represents Kalkaji assembly constituency.

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News Network
April 17,2020

New Delhi, Apr 17: A total of 3,336 Indians tested positive for coronavirus in 53 countries while 25 others died of the infection, government sources said on Thursday.

They said the Indians stranded abroad will have to be patient as the government is not evacuating them as part of a larger policy decision to check the spread of the coronavirus in the country.

"They need to be patient and stay where they are. Our missions have been told to extend all possible help to the stranded Indians," said a source.

According to the sources, evacuation of around 35,000 foreign nationals from 48 countries has been facilitated so far from India.

The sources said the majority of Indians who tested positive for the coronavirus infection are living in the Gulf region. A sizeable number of Indians staying in France and the US have also tested positive.

They said that Indian missions in the Gulf region have been told to extend all possible assistance to the Indians in distress.

Around eight million Indians are living in the Gulf countries and there has been growing anxiety among them over their livelihood in view of the pandemic as it has majorly impacted the oil-driven economy of the region.

Almost all Gulf countries have taken a series of drastic measures including imposing total lockdown, travel restrictions and even closing borders to stem the spread of the coronavirus infection.

The United Arab Emirates has already warned of possible action against countries refusing to allow their citizens to return.

Around 3.3 million Indians are living in the UAE and they constitute roughly 30 per cent of the country's population. Among the Indian states, Kerala is the most represented followed by Tamil Nadu and Andhra Pradesh.

A large number of Indians are working in the construction sector in Qatar which is hosting the FIFA World Cup in 2022.

As a matter of policy, India has decided not to bring back the stranded Indians from abroad till the nationwide lockdown ends.

The issue of Indians in Gulf region figured prominently during Prime Minister Narendra Modi's video conference with heads of Indian missions abroad on March 30.

Welfare of Indians in the Gulf was the major focus area in the discussions Modi had with leaders of countries in the region over the last few weeks, officials said.

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Agencies
February 10,2020

New Delhi, Fevb 10: Of the countries most at risk of importing coronavirus cases, India ranks 17th, researchers have found on the basis of a mathematical model for the expected global spread of the virus that originated in China's Wuhan area in December 2019.

So far, India has reported three coronavirus positive cases -- all from Kerala.

Among the airports in India, the Indira Gandhi International Airport in New Delhi is most at risk, followed by airports in Mumbai, Kolkata, Bengaluru, Chennai, Hyderabad and Kochi, according to the model.

The new model for predicting global novel coronavirus cases has been developed by researchers from Humboldt University and Robert Koch Institute in Germany.

"The spread of the virus on an international scale is dominated by air travel," said the study.

"Wuhan, the seventh largest city in China with 11 million residents, was the relevant major domestic air transportation hub with many connecting international flights before the city was effectively quarantined on January 23, 2020, and the Wuhan airport was closed. By then the virus had already spread to other Chinese provinces as well as other countries," it added.

The researchers said that it is possible to estimate how likely it is that the virus spreads to other areas by looking at air travel passenger numbers.

"The busier a flight route, the more probable it is that an infected passenger travels this route. Using these probabilistic concepts, we calculate the relative import risk to other airports. When calculating the import risk, we also take into account connecting flights and travel routes that involve multiple destinations," said the study.

The top 10 countries and regions at risk of importing coronavirus cases are: Thailand, Japan, South Korea, Hong Kong, Taiwan, USA, Vietnam, Malaysia, Singapore and Cambodia, according to the model.

While Thailand's national import risk is 2.1%, it is 0.2% for India, found the research.

The foundation of the model is the worldwide air transportation network (WAN) that connects approximately 4,000 airports with more than 25,000 direct connections.

The model accounts for both, the current distribution of confirmed cases in mainland China as well as airport closures that were implemented as a mitigation strategy.

This network theoretic model is based on the concept of effective distance and is an extension of a model introduced in the 2013 paper "The Hidden Geometry of Complex, Network-Driven Contagion Phenomena" published in the journal Science.

The current outbreak of the 2019-nCoV virus started in Wuhan city, Hubei province, China. While the first cases were reported as early as December 8, 2019, the outbreak gained global attention on December 31, 2019, when the World Health Organization was alerted to "several cases of pneumonia" by an unknown virus.

The new virus was soon identified as a novel coronavirus and named 2019-nCOV. It belongs to the family of viruses that include the common cold and viruses such as SARS and MERS. On January 20, 2020, it was confirmed that the coronavirus can be transmitted between humans, greatly increasing the risk of a global spread.

The death toll due to the novel coronavirus outbreak in China has increased to 811 on Sunday, surpassing that of the Severe Acute Respiratory Syndrome (SARS) epidemic in 2003.

Although about 20 countries have confirmed cases, China has accounted for about 99 per cent of those infected. The first foreign victims of the virus both died on Saturday in Wuhan.

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