Thanks to a continued rise in the market capitalisation of the Adani Group companies, its promoter Gautam Adani is now the second richest Asian and fourteenth richest businessman in the world with a networth of $66.5 billion. Reliance Industries promoter Mukesh Ambani remains the wealthiest businessman in Asia with a networth of around $76.5 billion, according to Bloomberg data. The six Adani Group companies had combined market capitalisation of Rs 8.36 trillion as on Thursday, against Reliance Industries' market capitalisation of Rs 12.6 trillion. Adani Green tops the charts in the group with m-cap with Rs 1.99 trillion.
Tata Consultancy Services (TCS) - the largest information technology (IT) services provider in India and the second-largest globally - recently set an ambitious goal of $50 billion in revenue by 2030. The growth required to reach this goal, however, is lower than the company's own standards. In the past decade, TCS revenues, or net sales in US dollar terms, have grown at a compound annual growth rate (CAGR) of 9.5 per cent, from $10.2 in 2011-12, to an expected $25.3 billion during 2021-22 (FY22), based on its revenue trend in the first nine months of FY22.
The possible acquisition of Holcim India business will be one of the biggest inbound corporate deals in the country. Currently, Walmart Inc.'s $16-billion acquisition of Flipkart Online Services in 2018 remains the biggest acquisition of an Indian asset by any acquirer, followed by BP plc acquisition of 30 per cent stake in Reliance Industries' 23 oil and gas production blocks in 2011 for $7.2 billion. Bloomberg reported late on Wednesday night that Holcim - the world's biggest cement maker - is considering a potential sale of its India business and gauging interest in its controlling stake in Ambuja Cement.
The RBI governor is focused on growth, and keeping rupee slightly depreciated is part of that 'Atmanirbhar Bharat' strategy.
Operating margins for some companies dipped in Q3, 2021-22 but this sector could be nearing the bottom of the cycle in terms of profits.
Rajapaksa said China indicated that it would help Sri Lanka, while adding that "usually they don't like" lending out more money to cover earlier debt payments.
Surprisingly, Jeff Bezos is the new entrant to the list and ends up holding the first position.
'Since the Covid virus has a tendency to mutate, we can continue to expect new variants of the virus to emerge and keep circulating and recirculating in the communities.'
As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. State-run Rosneft is one the biggest oil companies that supply crude to India.
There are four things that stand out in China's strategy for electric vehicles, says Vandana Gombar.
With screens of 4.7 inches and 5.5 inches, the two new models would be Apple's largest iPhones.
From Rihanna to Michael Bloomberg, get inspired from the best.
The game plan is to pressure India and China to come back and commit to further emissions cuts by next year's UN meeting. Neither China nor India has 2030 targets anywhere near in line with a 1.5 degree centigrade pathway, and so will be on the target list of nations under pressure to return next year with more ambition, predicts Ambassador M K Bhadrakumar.
'Employees may well be expected to be on call at almost all times -- much like the standard Indian approach to the workday,' points out Mihir S Sharma.
Credit Suisse said if the deal fructifies, then this will bring together the largest offline and online retailers in India.
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
We have no standard processes in place to address the more serious public health hazard of our lifetime, observes Aakar Patel.
We are entering 2022, facing another infectious variant, with much the same baseless confidence, notes Mihir S Sharma.
'All actions for COVID-19 should be the same as for other routine health conditions.' 'There is no need to report the matter in the media all the time; not on front page please.'
Tata Motors has halved the volume outlook for its UK subsidiary Jaguar Land Rover Automotive (JLR) and warned of lower earnings as it sees the semiconductor shortage deepening in the September quarter of the current financial year, according to a notification issued by the company to the stock exchanges on Tuesday. The announcement caught investors unawares. They were hoping for a quicker recovery. Tata Motors' stock tanked 13 per cent (on July 6) from the day's high of Rs 358.10 and hit the lower circuit (Rs 311.45) in intra-day trades.
Bezos' total net worth hit $65.05 billion
Maps and navigation services have become a key asset for tech companies as consumers increasingly adopt mobile devices.
Two anonymous letters containing traces of the deadly poison ricin were sent to New York City Mayor Michael Bloomberg and his non-profit organisation in Washington, the latest in a string of similar incidents.
The soaring prices of metals like lithium, nickel and cobalt, which are the primary constituents of the cell, as well as supply chain bottlenecks, are also pushing up the cost of batteries
While traditional automakers in India are reeling under a global shortage of semiconductors, the country's electric vehicle (EV) makers, too, are now facing a shortage of lithium-ion batteries, a key raw material. The soaring prices of metals like lithium, nickel and cobalt, which are the primary constituents of the cell, as well as supply chain bottlenecks, are also pushing up the cost of batteries. Battery manufacturers say that prices have been increasing every quarter since the beginning of 2021.
Bloomberg has ranked world's most influential people.
Let's take a look at the 30 richest businesspeople.
In a major political boost to Barack Obama, New York Mayor Michael Bloomberg, an otherwise fierce critic of the president, has endorsed his bid for re-election, citing his efforts in dealing with climate change as the city recovers from the destruction caused by Superstorm Sandy.
More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
Its latest member is a Frenchman. Bernard Arnault's fortune is now estimated at $100.4 billion.
New York City Mayor Michael Bloomberg abruptly reversed course and canceled Sunday's marathon, a beloved annual race that had become a lightning rod for people frustrated by the disastrous aftermath of megastorm Sandy.
The Johns Hopkins Bloomberg School of Public Health, United States has collaborated with the Indian Institute of Health Management Research in Jaipur to offer a masters programme in public health in the country.
After witnessing cloudy skies this year, the country's renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focuses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175 GW renewable capacity target. India, which has an installed renewable energy generation capacity of a little over 150 GW, aims to reach 175 GW in 2022. Out of the total mix, 100 GW would be from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro power projects.
The world's richest people have become poorer.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
The COVID-19 pandemic and the ensuing lockdown may have put the best of funds on a backfoot of deal activity, RIL, however, has been an outlier. With 10 different investors brought in for its telecom venture Jio Platforms, RIL undertook 12 different transactions since April this year.
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
