Radhakishan S Damani, investor and promoter of the D-Mart supermarket chain, has broken into the elite club of the top 100 global billionaires. Damani, who grew up in a single-room apartment in Mumbai, is now ranked 98th on the Bloomberg Billionaires Index with $19.2 billion as his net worth. The index is a daily ranking of the world's richest people. The other Indians on the top 100 rich list ahead of Damani are Mukesh Ambani, Gautam Adani, Azim Premji, Shiv Nadar, and Lakshmi Mittal.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
India was the best performing wealth market globally in 2017 as its total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017
Make the most of the income that you earn by invest the money in the right instruments. The advantages of starting early and investing right cannot be overstated, says financial planner Harshad Chetanwala.
It is not the first time the history of the Godrej family is being written. In its centenary year in 1997, film journalist and former editor of Filmfare and Screen B K Karanjia had, at the behest of the industrial family, penned a voluminous two-part history, tracing their trials and tribulations since 1897. So, what made the family want to tell its story again 25 years later? And not through another book, but through a completely different medium?
The Supreme Court Wednesday lauded the efforts of Maharashtra authorities in ensuring oxygen supply to Covid patients in Mumbai and asked the Centre and the Delhi government to talk with the civic body officials of that city to learn about augmenting and managing the supply.
'Technically we are as good as anyone else,' said IOA secretary general Randhir Singh.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
Afghanistan President Ashraf Ghani has fled the war-torn country aboard a helicopter stuffed with money but had to leave some cash as it could not be squeezed into the chopper, according to Russian official media reports on Monday.
'They were certainly not practising Hinduism in the Harappan culture (which includes Mohenjo Daro and other sites).' 'There was no notion of Hinduism then.'
I had about eight, nine, dating apps on my phone. But I always felt this pressure of looking good.' 'When it comes to finding romantic love, it just feels very shallow.' 'I felt it was time for something different, something non superficial.'
Mumbai is the only Indian city in the top 30 cities in the world for multi-millionaires.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
Taking serious note of the harassment faced by senior citizens at the hands of their own children, the Bombay High Court refused to quash a tribunal's order evicting singer Shweta Shetty from the south Mumbai residence of her 95-year-old father for ill-treating him.
A Kolkata lawyer has filed separate complaints with the city police and the state Women's Commission seeking investigation into senior BJP leader Tathagata Roy's claim of use of "women and money" by some leaders of his own party in the West Bengal assembly elections.
'The main thing Cyrus left is to tell us that you can be a business leader by being good.' 'He practiced that in all of his dealings, in all of his decisions -- in the way he thought, the way he behaved and indeed as he spoke.'
Investing in start-ups can be highly rewarding, but direct investing is not meant for everyone. For the majority of wealthy investors, taking the private-equity route could still be the better option.
The top four countries account for 60.3% of the total worldwide HNWI population.
PowerGrid was the top loser in the Sensex pack, slumping over 4 per cent, followed by ONGC, IndusInd Bank, Kotak Bank, L&T, Asian Paints and Bajaj Auto. NSE Nifty tanked 258.40 points to 14,359.45.
'Second-class citizenship would have been meaningless to a Hindu in the Mughal empire.'
'He made me feel like a crorepati even without sitting in the hot seat.'
The two women, who had earned their daily bread selling lottery tickets on the streets of Kochi, were allegedly sacrificed by the accused to settle their financial issues and bring prosperity in life, police said.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
India is ranked 10 among the 20 wealthiest countries in the world in terms of private wealth held by individuals.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
Adityanath has of late earned the nickname "bulldozer baba", which helped the party create a narrative of tough administration in the state polls.
... Are far-reaching social changes coming with it, asks Ajit Balakrishnan.
The Year of the Rabbit, according to the Chinese calendar, began on Sunday, January 22.
US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International president and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO," said McKenna. However, she noted that there is no specific timeline for the IPO.
The 'buy-now, pay-later' (BNPL) juggernaut continued to roll on during the festive season with multiple players seeing disbursals grow by more than 100 per cent compared to Diwali last year. LazyPay, the BNPL platform of Prosus-owned payments major PayU, witnessed a credit demand increase of 300 per cent over the festive season last year, especially in segments like travel, food & beverages and entertainment. "We also saw an uptick of 70 per cent in user acquisition in the last two months.
The total wealth of top 100 real estate barons accounted for Rs 2.37 trillion ($32.7 billion) in 2018, up 27 per cent against 2017's cumulative wealth of Rs 1.87 trillion ($28.6 billion).
While welcoming Prime Minister Narendra Modi's announcement on Saturday to celebrate January 16 as National Start-up Day, six years after the Start-up India Action Plan was launched by the government, stakeholders in the ecosystem say that more needs to be done at the policy level to unleash the next phase of growth in the sector. "The Start-up India programme's launch in 2016 was a turning point - that is when the promoter came to be known as the founder in the country and the word 'entrepreneur' entered the common lexicon. "But now we need a Start-up India 2.0 now for the next phase of growth of the ecosystem", said Siddarth Pai, managing partner of venture capital (VC) firm 3one4 Capital. Pai says that Startup India 2.0 must look at promoting Startups headquartered in tier II,III & IV cities and solving the problems of Bharat.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Monalisa Mondol, a law student from Tripura, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Surprisingly, Jeff Bezos is the new entrant to the list and ends up holding the first position.
'COVID-19 is just an excuse to pass anti-labour laws.'
