Mukesh Ambani tops India's 100 richest billionaires, Mallya drops out

September 26, 2014

Singapore, Sep 26: For the first time, the 100 richest tycoons in India are all billionaires with Mukesh Ambani topping the league for the eighth consecutive year, according to Forbes.

Mallya dropsWith a net worth of USD 23.6 billion, up USD 2.6 billion from last year, RIL Chief Mukesh Ambani topped the list for the eighth consecutive year.

Ambani was followed by Dilip Shanghvi, who got richer this year by USD 4.1 billion. Shanghvi is the new No. 2, after he displaced steel baron Lakshmi Mittal (USD 15.8 billion), who slipped to the fifth place.

Wipro's Azim Premji moved up one notch to the number three position as his net wealth increased to USD 16.4 billion from USD 13.8 billion previously. Pallonji Mistry, patriarch of construction giant Shapoorji Pallonji Group which is the biggest shareholder in Tata Sons with a new worth of USD 15.9 billion, was placed in the fourth place.

Forbes said that "good days are here" for the India's 100 Richest, as the top 100 richest Indians are all billionaires with combined wealth of USD 346 billion, up more than a third from USD 259 billion in 2013.

Propelled by the euphoria after the Bharatiya Janata Party's landslide victory in May, the stock market has gained 28 per cent since January, driving the net-worth of the uber-rich people in India.

The biggest dollar gainer is ports magnate Gautam Adani, who jumped 11 spots to 11th rank in the list, adding nearly USD 4.5 billion to his wealth which reached USD 7.1 billion on soaring share prices.

"Shares of Adani's companies started soaring ahead of the elections on hopes of a BJP victory. The gains added close to USD 4.5 billion to his wealth, more than anyone else," Forbes said.

Others in the top 10 include NRI businessmen Hinduja Brothers who were at the sixth position with a net worth of USD 13.3 billion, followed by Shiv Nadar (7th, USD 12.5 billion), Godrej family (8th, USD 11.6 billion), Kumar Birla (9th, USD 9.2 billion) and Sunil Mittal & family (10th, USD 7.8 billion).

As many as 85 of the 89 who returned to the top 100 from last year are wealthier, and several are billionaires for the first time.

Among them are Qimat Rai Gupta (ranked 48, net worth USD 1.95 billion), Chairman of Havells; V G Siddhartha (75, USD 1.27 billion), founder of the Cafe Coffee Day chain; and brothers Harsh Goenka (82, USD 1.18 billion) and Sanjiv Goenka (69, USD 1.4 billion), who run their independent empires and are listed separately.

UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.

Mallya, who has been declared as 'wilful defaulter' by lenders following huge debts on his Kingfisher Airlines, is missing from the Forbes latest list of 100 richest released today. He was ranked at 84th position in 2013, with a net worth of USD 800 million.

With a record USD 1 billion as the minimum net worth this year, as many as 11 persons dropped out of this year's list including Mallya.

"The flamboyant Vijay Mallya, who was tagged by his bankers as a "willful defaulter," also dropped off," Forbes said.

The drop-offs this year also include, Brij Bhushan Singal, whose Bhushan Steel's shares tanked after son Neeraj was arrested in a corruption scandal, Forbes said.

In sharp contrast, the combined net worth of India's 100 wealthiest is USD 346 billion, up from more than a third from USD 259 billion in 2013, thanks to soaring stock markets which have gained 28 per cent since January this year.

Earlier in March 2013, Mallya was dropped from Forbes global rich list, while he had moved out of the billionaire league way back in 2012.

Amid huge debt burden and mounting losses at Kingfisher Airlines, Mallya's fortunes has been declining continuously over the recent years.

The airline owes Rs 7,600 crore to 17 banks. In February 2012, the banks had formally declared loan recall on KFA and began recovery process. They have recovered around Rs 2,000 crore by selling pledged shares.

Already, United Bank of India has won a legal backing on its decision to declare Mallya and other top executives of the airline as "wilful defaulters". India's largest bank SBI has also sent a notice to tag them as "wilful defaulters".

State-run PNB and IDBI Bank, and private lenders Federal Bank and Axis Bank are also in the process of doing the same.

Burdened with huge losses and large debts, Kingfisher Airlines stopped flying in October 2012 and its flying licence also lapsed about two months later.

About Mallya Forbes India in October 2012 had said that the 'king of good times' is having nothing but bad times lately.

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Agencies
July 25,2020

In a study conducted in 117 countries, researchers have found that the world is experiencing the most dramatic reduction in the seismic noise (the hum of vibrations in the planet's crust) in recorded history due to global COVID-19 lockdowns.

Measured by instruments called seismometers, seismic noise is caused by vibrations within the Earth, which travel like waves and the waves can be triggered by earthquakes, volcanoes, and bombs - but also by daily human activity like travel and industry.

This quiet period was likely caused by the total global effect of social distancing measures, closure of services and industry, and drops in tourism and travel, the study published in the journal Science, reported.

The new research, led by the Royal Observatory of Belgium and five other institutions around the world including Imperial College London (ICL), showed that the dampening of 'seismic noise' caused by humans was more pronounced in more densely populated areas.

"Our study uniquely highlights just how much human activities impact the solid Earth, and could let us see more clearly than ever what differentiates human and natural noise," said study co-author Stephen Hicks from ICL in the UK.

For the findings, the research team looked at seismic data from a global network of 268 seismic stations in 117 countries and found significant noise reductions compared to before any lockdown at 185 of those stations.

Researchers tracked the 'wave' of quietening between March and May as worldwide lockdown measures took hold.

The largest drops in vibrations were seen in the most densely populated areas, like Singapore and New York City, but drops were also seen in remote areas like Germany's the Black Forest and Rundu in Namibia.

Citizen-owned seismometers, which tend to measure more localised noise, noted large drops around universities and schools around Cornwall, UK and Boston, US - a drop in noise 20 per cent larger than seen during school holidays.

The findings showed that countries like Barbados, where lockdown coincided with the tourist season, saw a 50 per cent decrease in noise.

"The changes have also given us the opportunity to listen in to the Earth's natural vibrations without the distortions of human input," the study authors wrote.

Earlier in April, a study published in the journal Nature, reported at least a 30 per cent reduction in that amount of ambient human noise since lockdown began in Belgium.

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Agencies
January 7,2020

Washington, Jan 7: Facebook will ban deepfake videos ahead of the US elections but the new policy will still allow heavily edited clips so long as they are parody or satire, the social media giant said Tuesday.

Deepfake videos are hyper-realistic doctored clips made using artificial intelligence or programs that have been designed to accurately fake real human movements.

In a blog published following a Washington Post report, Facebook said it would begin removing clips that were edited--beyond for clarity and quality--in ways that "aren't apparent to an average person" and could mislead people.

Clips would be removed if they were "the product of artificial intelligence or machine learning that merges, replaces or superimposes content onto a video, making it appear to be authentic," the statement from Facebook vice-president Monika Bickert said.

However, the statement added: "This policy does not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words."

US media noted the new guidelines would not cover videos such as the 2019 viral clip -- which was not a deepfake -- of House Speaker Nancy Pelosi that appeared to show her slurring her words.

Facebook also gave no indication on the number of people assigned to identify and take down the offending videos, but said videos failing to meet its usual guidelines would be removed, and those flagged clips would be reviewed by teams of third-party fact-checkers -- among them AFP.

The news agency has been paid by the social media giant to fact-check posts across 30 countries and 10 languages as part of a program starting in December 2016, and including more than 60 organisations.

Content labeled "false" is not always removed from newsfeeds but is downgraded so fewer people see it -- alongside a warning explaining why the post is misleading.

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News Network
June 30,2020

Bengaluru, Jun 30: Karnataka Chief Minister BS Yediyurappa on Monday launched 'Skill Connect Forum' and said that the government is committed to provide impetuous to creating jobs by reviving economic and industrial activities.

The 'Skill Connect Forum' portal connects both private entrepreneurs and job seekers on the same platform.

After launching the forum, the Chief Minister said that the portal provides information on jobs available and who needs a job. "Under this forum, an unemployed will be imparted skills and then enabled to get a job," Yediyurappa said.
Besides providing jobs via registration, the portal also provides a skilled pool of people for those looking to hire, he added.

Deputy Chief Minister Dr CN Ashwath Narayan, who is also the Skill Development Minister said that portal will be a boon to the youth seeking jobs and it will avoid unemployment issue to a great extent.

"All these years, there was no information and communication between job seekers and recruiters. The portal will solve that problem," he said.

Narayan said that there was no proper information on skilled workers and job market. Moreover, skill development was not in sync with the market. All these issues have been addressed by the portal, he added.

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