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
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.
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.
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".
'Inequality has been growing in the world. The virus has only amplified it.'
China's rapid economic growth will continue to support its people to accumulate wealth.
India's 100 richest saw a 3 per cent rise in the wealth totaling $259 billion, says Forbes.
Pune saw the fastest growth in terms of number of super-rich people.
Let's take a look at some of the countries that have the most billionaires in the world.
Like ants declining to question the rules of the anthill, they feel innately justified in their approach, notes Shyam G Menon.
IPL had already been postponed to April 15, is on the verge of cancellation with the country in a 21-day national lockdown. MS Dhoni's childhood coach Keshav Ranjan Banerjee remains hopeful that the ageing cricketing hero will find a place in India's T20 World Cup.
Maradona's inheritance process is likely to be a messy affair between his large family, with eight children from six different partners
'Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees.'
Yogini and wellness expert Shweta Singh tells you how to begin your yoga journey.
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.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
They have one of the most exciting squads around, full of proven matchwinners to take the burden off Ronaldo.
It doesn't make sense to view the womb through the prism of religion, community and tradition, warns Shyam G Menon.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
The prime minister touched upon many issues including scrapping of Article 370, triple talaq and many more.
The number of billionaires in China has touched 300 by the end of 2013 mainly due to real estate boom, according to a new annual ranking of the wealthiest individuals in the communist nation, world's second largest economy.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Sanjeev Nayyar offers a roster of things to do to see the India of our dreams.
As per RDIF, Sputnik V has a number of key advantages, including that there are no strong allergies caused by Sputnik V.
Bollywood stars posted beautiful pictures on World Ocean Day.
Global private financial wealth grew by 1.9 per cent in 2011.
A year-long investigation by journalists has revealed how world leaders, businessmen, sportspersons and celebrities use offshore accounts in tax havens to hide their wealth, evade taxes and launder money.
Subhash K Jha picks performances that he loves.
'If you are ready to stomach the loss, you may invest 3-5 per cent of your portfolio in crypto assets.' 'Of this, 80-90 per cent should be in Bitcoin.'
The Nobel Prize in Physics was on Tuesday awarded with one half to James Peebles for his theoretical discoveries in physical cosmology and the other half jointly to Michel Mayor and Didier Queloz for discovering an exoplanet orbiting a solar-type star.
'The regime -- and particularly the home ministry under Amit Shah -- have sought to suppress and destroy these struggles through intimidation, bullying, threats, through false cases, arrests, custodial torture, the use of draconian laws like the UAPA.'
'Investors need to diversify at least 30% to 50% of their liquid wealth across different markets, asset classes, and instruments across the world.' 'Do this with proper guidance and advice.' 'Global investing is complicated, but if done right, is extremely rewarding.'
The Gujarati's intolerance for diversity can be seen in India's hard nationalism which is showing itself in Kashmir and the North East, observes Aakar Patel.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'I am not the kind of person who will stand up and complain. I have no complaints against anyone. If I've been away from the entertainment industry, it's because I am not into selling myself.'
College is where the manicured view of the world provided by one's family, encounters new trends. It is the dawn of exploration. Wishing for a sanitised bubble on campus appears hypocritical. The correct strategy, one would assume, is to weed out the violence while retaining the right to political debate, argues Shyam G Menon.
'We can go somewhere between 35 per cent and 40 per cent.'
