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Search resuls for: "Adani"


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☆ Gautam Adani: Asia's richest man sees growing isolation for China
  + stars: | 2022-09-27 | by ( Diksha Madhok | ) edition.cnn.com   time to read: +2 min
New Delhi CNN Business —Indian billionaire Gautam Adani says that China “will feel increasingly isolated” and the “foremost champion of globalization” would find it hard to bounce back from a period of economic weakness. Speaking at a conference in Singapore on Tuesday, Adani said “increasing nationalism, supply chain risk mitigation, and technology restrictions,” as well as resistance to Beijing’s huge Belt and Road initiative, would impact China’s global role. The US government ordered two of America’s top chipmakers to stop selling high-performance chips to China earlier this month. And, last week, leaders of America’s biggest banks said they could exit China if it ever attacks Taiwan. Adani also mentioned the challenges facing the United Kingdom, and countries in the European Union, because of the war in Ukraine and Brexit.
☆ India's Adani pledges shares of ACC, Ambuja Cements worth about $12.5 billion
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Amit DaveBENGALURU, Sept 20 (Reuters) - India's Adani Group has pledged shares worth about $12.5 billion in two cement units, days after the conglomerate controlled by billionaire Gautam Adani completed the purchase of stakes in those businesses from Switzerland's Holcim (HOLN.S). The pledged shares of ACC and Ambuja were worth around 989.46 billion rupees based on Monday's closing prices and accounted for a 57% stake in ACC (ACC.NS) and a 63% stake in Ambuja Cements (ABUJ.NS). (https://bityl.co/EZE6) (https://bityl.co/EZEE)Deutsche Bank AG's Hong Kong branch, which is the agent for the pledged shares in ACC and Ambuja, made the disclosure in filings to India's stock exchanges. Register now for FREE unlimited access to Reuters.com RegisterThe group in May announced the acquisition of Holcim's cement businesses in India for $10.5 billion to become the country's No. read more($1 = 79.7210 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Chris Thomas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
☆ Mark Zuckerberg has lost $70 billion in net worth, bumping him down to 20th richest person in the world
  + stars: | 2022-09-20 | by ( Grace Dean | ) www.businessinsider.com   time to read: +3 min
Meta CEO Mark Zuckerberg's net worth has plummeted by $70 billion so far this year, a fall of 55%. Zuckerberg is now just the 20th richest person on the planet, way behind Elon Musk and Jeff Bezos. But since then, it's tanked down to $55.3 billion, a fall of just over 55%, according to the data. Forbes puts his net worth at $53.4 billion. Meta's net income fell 36%, or more than $3 billion, in the second quarter from the same period in 2021.
☆ India renewables push gets lift from patient money
  + stars: | 2022-09-19 | by ( ) www.reuters.com   time to read: +2 min
MUMBAI, Sept 19 (Reuters Breakingviews) - As global borrowing costs rise, patient foreign investors are stepping up to help tycoons recycle capital and speed India’s energy transition. The wider deal will help the unit of $19 billion Mahindra and Mahindra (MAHM.NS) repay a shareholder loan as Indian businesses deleverage en masse. In April, Tata Power (TTPW.NS) struck a deal with BlackRock (BLK.N) and Abu Dhabi’s Mubadala. Register now for FREE unlimited access to Reuters.com RegisterSimilar tie-ups helped renewables power 60% of India’s energy capacity additions in the past six years, according to Moody’s. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Jeff Bezos was just dethroned as the 2nd richest person in the world by Asia's wealthiest individual
  + stars: | 2022-09-17 | by ( Britney Nguyen | ) www.businessinsider.com   time to read: +2 min
Asia's richest person, Gautam Adani, passed Jeff Bezos to become the world's second-richest person. In February, Adani, the founder and chairman of Adani Group, became Asia's richest person, surpassing fellow Indian businessman Mukesh Ambani. He managed his brother's plastic company, helping him import PVC, and in 1988 eventually established the flagship for Adani Group, Adani Enterprises. Adani Group comprises seven publicly-traded companies, including Adani Green Energy Ltd and Adani Total Gas Ltd. As of September 16, 2022, Adani Group has a market cap of over $258.44 billion. As second-richest person, Adani is only behind Elon Musk, who is worth $264 billion, according to the Bloomberg Billionaires Index.
☆ An Indian tycoon just ousted Jeff Bezos as world's second-richest person
  + stars: | 2022-09-16 | by ( Allison Morrow | Cnn Business | ) edition.cnn.com   time to read: +1 min
New York (CNN Business) Jeff Bezos just lost his status as the world's second-richest person, dropping to No. 3 as Indian business mogul Gautam Adani rapidly climbs the ranks of Bloomberg's Billionaire Index. 1 wealthiest person with $260 billion to his name, may need to watch his back. It's the first time a person from Asia has ranked so highly on Bloomberg's list, which has long been dominated by white tech entrepreneurs. Adani's $146.9 billion fortune, largely tied up in holdings of his sprawling Adani Group conglomerate, still trails well behind Musk's $260 billion.
☆ Indian tycoon Gautam Adani just booted Jeff Bezos as world's second-richest person
  + stars: | 2022-09-16 | by ( Allison Morrow | ) edition.cnn.com   time to read: 1 min
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