India jumps to fourth from thirteen in the list of countries having households with more than $100 mn private wealth.
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday pitched for formulating a policy for using the Reserve Bank of India's rising foreign exchange reserves for funding road projects, saying the country needs low cost finance for such infrastructure projects. Addressing a virtual event organised by industry body CII, Gadkari further said that the National Highways Authority of India (NHAI) should also have a financial arm like the power ministry's Power Finance Corporation (PFC). "We have a surplus of dollar reserves in the country. I have decided to talk with the RBI Governor, about how we can formulate a policy by which we can use this foreign exchange reserves for development of infrastructure in the country," he said.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
These funds have lowered the entry barrier for investors who can now invest with just Rs 5,000, points out Sanjay Kumar Singh.
'NRI interest has gone up in the past three-four years.'
Anmol Ambani, the eldest son of industrialist Anil Ambani, has lashed out against a new round of lockdowns being imposed amid the surge in COVID-19 cases, saying such restrictions do not concern health but control and that they destroy the very backbone of the society and economy. The 29-year-old former executive director of Reliance Capital Ltd in a series of tweets lambasted the new semi-lockdown rules hurting small businesses and daily wage earners. "Professional 'actors' can continue shooting their films. Professional 'cricketers' can play their sport late into the night. Professional 'politicians' can continue their rallies with masses of people. But YOUR business or work is not ESSENTIAL. Still don't get it?" he said in a tweet.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Soft oil prices are expected to persist in 2015 and will be accompanied by significant real income shifts from oil-exporting to oil-importing countries.
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
Russell Domingo coached South Africa to the semi-finals of the Twenty20 World Cup in 2014 and the 50-overs World Cup in 2015.
The Credit Suisse report has estimated the middle class on the basis of their wealth rather than their income, says Prachi Salve ' IndiaSpend.
'If you sit collar turned up and tell yourself, you are great, you will never evolve as an actor.'
Coach Darren Lehmann gave Australia a mark of '7.5' out of 10 for a year in which they won the World Cup but lost the Ashes, the series most prized by home fans.
The world's richest are getting richer despite the economic crisis.
The wealth of India's middle class has grown by 150 per cent since 2000 to $780 billion.
'If we go in the same direction as them, we cannot expect a different result from them.' 'Our fall is going to be very swift.' 'Within a decade, we can expect the situation to change for the worse.'
What is your USP?
Why should your customers come to only you and nobody else? What particular problem are you solving? Solve these puzzles before launching a stat up suggests Rajiv Talreja.
Alibaba founder and executive chairman Jack Ma is this year's biggest financial gainer as the billionaire entrepreneur's fortune has swelled by a whopping $18.5 billion this year to $29.2 billion.
In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
A Bharatiya Janata Party MP on Wednesday dubbed the opposition members protesting in Rajya Sabha as 'Omicrons,' alleging they were a threat to democracy, and asked them to get the 'Modi vaccine' for protection against the new coronavirus variant.
At present, the country has 182,000 millionaires, Credit Suisse Research Institute said in its fourth Annual Global Wealth Report 2013 released in Mumbai on Wednesday.
Will MBA hybrid model be the focus for B-schools? Should B-schools focus on long distance programmes?
In 2012, the number of HNIs in the region increased 9.4 per cent to a record 3.68 million and their collective wealth grew to $12 trillion.
The bizarre challenge started in China but has followers all over the world.
'It was unfair to expect him to continue to keep on supplying vaccines without being given a firm commitment or a financial grant of any sort.'
Technology infrastructure solves many problems, but it cannot build roads or bridges and provide clean water. However, such activities are essential for human progress, and their creation provides jobs, says R Gopalakrishnan.
India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday. Speaking at the 15th India Digital Summit, Kant said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades.
India's negotiating posture at the multilateral negotiations should be aligned with a significantly transformed development strategy domestically.' 'The positions the country takes at the negotiations will then carry credibility, says Shyam Saran, former foreign secretary and India's chief negotiator on Climate Change 2007-2010.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
Messi's love for Barcelona, who he joined when he was just 13, is deep.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
Bitter defeat for Belgium in the World Cup semi-final is tempered by the fact that influential squad members will likely still be around in two years' time for the European Championship where they will have another realistic chance at a major title.
'Inequality has been growing in the world. The virus has only amplified it.'
India is projected to be home to the fourth highest number of billionaires in the world by 2023.
Like ants declining to question the rules of the anthill, they feel innately justified in their approach, notes Shyam G Menon.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
The global billionaire population reached a record 2,325 with the addition of 155 new billionaires in 2014, registering a rise of 7 per cent from 2013.
Hosting a summit of leaders of Germany, Japan and Brazil under the G-4 format, the PM said the UNSC "must include the world's largest democracies, major locomotives of the global economy, and voices from all the major continents" to carry "greater credibility and legitimacy".
Maradona's inheritance process is likely to be a messy affair between his large family, with eight children from six different partners
