Mukesh Ambani added $16.5 billion to his fortune in 2019: Bloomberg Billionaires Index

Agencies
December 24, 2019

Reliance Industries (RIL) Chairman Mukesh Ambani added $16.5 billion to his wealth in 2019 taking his total net worth to $60.8 billion, according to the Bloomberg Billionaires Index.

With around $61 billion of net worth as of Tuesday, the petroleum-to-telecom tycoon is the 12th richest person in the world.

As of November 29, Mukesh Ambani was the ninth richest person in the world, according to 'The Real-Time Billionaires List' of Forbes.

The recent consistent rise in RIL's shares prices is a major reason in the past one year. Data from the National Stock Exchange (NSE) shows that said that RIL's share price rose by over 41 per cent in the past one year.

On Tuesday, its shares closed at Rs 1,544.50, lower by Rs 26.90 or 1.71 per cent from its previous close.

On November 28, it became the first India company to reach a market capitalisation of Rs 10 lakh crore. This came after the company’s stock price rose to a high of Rs 1,581.25 on 28th at around 10am. RIL is now the most valued listed company in the country in terms of market capitalisation.

As per reports, the shares of RIL have been outperforming the market since the beginning of this year, surging nearly 40%.

RIL was also the first India company to hit a market capitalisation of Rs 9 lakh crore on October 18.

In the past few years, the company has significantly diversified its business with its disruptive entry into the telecom segment with Jio, then into the broadband services with Jio GigaFiber. The group has also strengthened its retail presence and would soon enter the e-commerce segment giving a tough competition to the incumbents Amazon and Flipkart.

The list of the world's richest individuals is topped by Bill Gates with a net worth of $113 billion, aided by an addition of $22.4 billion this year.

Alibaba Group founder Jack Ma's (19th richest) net worth rose by $11.3 billion while Amazon CEO Jeff Bezos, the second richest individual in the world, lost $13.2 billion.

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Agencies
March 12,2020

Thiruvananthapuram, Mar 12: In the wake of COVID-19 outbreak, Internet service providers in Kerala have agreed to step up the network capacity by 30 to 40 per cent of the present capacity to meet the demand, especially in view of the spurt in work-at-home mode.

"The decision was made at a meeting of representatives of various telecom service providers in Kerala circle and officials of the Telecommunication Department convened by the Secretary, Electronics and IT, following a direction by Chief Minister Pinarayi Vijayan to look into the issue," said a press release by the IT Department.

The decision will be beneficial for those working in IT institutions. The government has come out with a set of suggestions to avoid social gatherings at public places in view of coronavirus spread. Telecom service providers have assured the government that they are well equipped to face the current situation.

The major part of Internet consumption in Kerala is made available through local servers. Moreover, global Internet traffic is very low as compared to the overall consumption. So, increasing the capacity won't be difficult, service providers informed.

"Complaints regarding the low availability of the Internet due to the spurt in consumption of the Internet can be made to the service providers to their complaint redressal number or inform state government call centre (155300). But complaints regarding the insufficiency in the current network infrastructure should be strictly avoided," said the release.

The IT Department will also demand daily reports from various telecom service providers. By analysing these reports, steps for remedies will be taken after bringing the sudden increase in consumption to the service providers.

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News Network
January 17,2020

New Delhi, Jan 17: E-commerce major Amazon on Friday said it plans to create one million new jobs in India over the next five years through investments in technology, infrastructure and its logistics network.

These jobs are in addition to the seven lakh jobs Amazon's investments have enabled over the last six years in the country.

"Amazon plans to create one million new jobs in India by 2025," the company said in a statement, adding that the jobs - created both directly and indirectly - will be across industries, including information technology, skill development, content creation, retail, logistics, and manufacturing.

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025.

"We are investing to create a million new jobs here in India over the next five years," Bezos said.

"We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we've partnered with, and great enthusiasm from the customers who shop with us—and we’re excited about what lies ahead," Bezos added.

India has prioritised job creation and skilling initiatives – including the training of more than 400 million people by 2022 – in rural and urban areas.

"Amazon’s job creation commitment and investment in traders and micro, small and medium enterprises (MSMEs) complement this social inclusion and social mobility efforts by creating more opportunities for people in India to find employment, build skills, and expand entrepreneurship opportunities," the statement said.

The new investments will help to hire talent to fill roles across Amazon in India, including software development engineering, cloud computing, content creation, and customer support.

Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the United States and the largest building globally in terms of employees (15,000) and space (9.5 acres).

The investments will also help in expanding growth opportunities for the more than 5,50,000 traders and micro, small, and medium-sized businesses – including local shops – through programs like Saheli, Karigar, and “I Have Space”.

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News Network
May 6,2020

Hyderabad, May 6: Away from city lights, two hours before Sunrise, people in India and across the world can witness Annual Meteor Shower called Eta Aquarids till May 28.

Observed since time immemorial, Meteor shower are commonly known as shooting stars which are nothing but dust flakes of comet/asteroid entering earth atmosphere.

This Annual Eta Aquarids Meteor Shower peaked on Wednesday at 02.30 am on Wednesday whereas presence of Full Moon was an obstacle outshining bright streaks of lights of this meteor shower zipping across the South Eastern sky.

As this meteor shower is active till May 28, people can still watch this celestial spectacle in early morning every day, Planetary Society of India (PSI) Director N Sri Raghunandan Kumar interacting with UNI said.

As per International Meteor Organization (IMO), 50 meteors per hour are expected to be seen on day of peak today. And this number would vary as days pass on till May 28 while earth passes through dust cloud of comet debris in its orbit.

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