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Anil Ambani makes it to Asiaweek's hall of fame

Reliance Industries Managing Director Anil Ambani has made it to the Asiaweek's list of 1999 leaders for the millennium in business and finance.

The Asiaweek magazine has chosen Ambani as the only '' new hero'' in business and finance from India.

The people included in the list are ''likely to make a difference in the new era,'' says Asiaweek. ''From the universe of the region's rising entrepreneurial and managerial talents, we have chosen a representative 20, all under age 50, and all winners in their own right--who promise to take us to new planes in banking, commerce and industry,'' points out Asiaweek, explaining the criteria for selection.

''While they were selected on the strength of their impressive individual achievements, they can also be cited for having a clear vision of the future and possessing the ability to bring that vision into fruition, whether by effecting reforms o reinventing traditional businesses or simply being innovative,'' adds Asiaweek.

It has been left to the Ambani brothers -- Anil and Mukesh -- ''to navigate the new post-liberalisation world and take Reliance Industries -- India's largest private sector corporation, with interests in textiles, chemicals and natural gas -- into the new century,'' the publication said.

The magazine also credits Ambani with making India's first forays into the overseas capital markets, raising $ 1.9 billion for Reliance since 1991 through public offerings of global depository receipts, convertibles and bonds. ''We need a change in the mindset in terms of being part of the competitive world. Those that don't change will perish,'' says Anil Ambani in Asiaweek.

The magazine features 17 other business and financial leaders from various Asian countries like Japan, Hong Kong, China, the Philippines and Singapore. The highest number of leaders come from Japan which is followed by Hong Kong. The names in the list include Philip Chen, director and chief opcrating officer, Cathay Pacific Airways, Hong Kong, Jaime Augusto Zobel de Ayala, president and CEO, Ayala group, the Philippines and Glenn Yusuf, chairman, Indonesian Bank Restructuring Agency.

UNI

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