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Search resuls for: "Adani's"


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☆ Indian tycoon Adani's mega port hangs in the balance as a fishing community protests
  + stars: | 2022-11-23 | by ( Munsif Vengattil Arpan Chaturvedi Aditya Kalra | Munsif Vengattil | Arpan Chaturvedi | ) www.reuters.com   time to read: +9 min
[1/5] Women from a fishing community attend a protest against the construction of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. A $900 million project to build India’s first container transhipment port has been stalled due to protests by the region’s fishing community who believe it will destroy their livelihood. The fishing community erected the shelter after years of failed efforts to get the Kerala government to intervene while watching the coast steadily erode. "This is a matter of providing jobs to the many localities here," said Mukkola G Prabhakaran, a Kerala state council member in Modi's Bharatiya Janata Party. Accusing the Kerala state police of being "mute spectators", the Adani conglomerate has also called for federal police to be brought in.
☆ Indian billionaire Adani looks to raise $10 bln debt - Bloomberg News
  + stars: | 2022-10-21 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Oct 21 (Reuters) - Indian billionaire Gautam Adani's group plans to raise at least $10 billion in new debt through the next year to refinance large borrowings and fund projects in its pipeline, Bloomberg News reported on Friday, quoting people in the know. The Adani Group plans to use several vehicles including foreign currency debt and green bonds to raise up to $6 billion to swap its current high-interest debt with lower-cost borrowings and deploy the rest for project financing, according to the report. It added that the effort could begin as early as the current December quarter. An Adani Enterprises (ADEL.NS) spokesperson did not immediately respond to a Reuters request for comment. The report comes more than a month after debt research firm CreditSights, a part of the Fitch Group, said it had concerns about the Adani group's overall debt levels, at a time when it is looking to expand aggressively.
☆ How Gautam Adani became the world's fourth richest person while billionaires like Jeff Bezos lost tens of billions
  + stars: | 2022-09-30 | by ( Anuz Thapa | ) www.cnbc.com   time to read: +1 min
The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to become the second-richest person in the world in September, according to Bloomberg. He's now ranked as the world's fourth wealthiest person. That might be changing now that he's richer than Microsoft founder Bill Gates and iconic investor Warren Buffett. Adani is now chair of the Adani Group, one of the three largest industrial conglomerates in India. Watch the video above to learn more about how Adani's political connections may have boosted the success of his many companies.
☆ Asia's richest man, Gautam Adani, feels China will be 'increasingly isolated' in current global turbulence — and says the country's bounce back will be harder than ever
  + stars: | 2022-09-28 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
Gautam Adani says China will feel "increasingly isolated," and sees a harder economic bounce back. However, the global turbulence has quicked opportunities for the rise of India, plugs Adani. "I anticipate that China – that was seen as the foremost champion of globalization – will feel increasingly isolated," Adani said in his keynote speech at the Forbes Global CEO Conference in Singapore on Tuesday. As the factory for the world, China has benefited from globalization, but its tide may be turning — and its bounce back will be challenging, Adani said. Meanwhile, global turbulence has "accelerated opportunities" for India, Adani said.
☆ 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.
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