Gautam Adani reclaims Asia's richest person title with net worth of USD 111 billion

News Network
June 1, 2024

modi.jpg

Gautam Adani, chairman of multinational conglomerate the Adani Group, has reclaimed the title of the richest person in Asia with a net worth of $111 billion, according to the Bloomberg Billionaires Index. This came after the group's shares rallied up to 14 per cent on Friday.

With this, Adani has overtaken Reliance Industries’ Mukesh Ambani after nearly 5 months. Ambani stands at 12th rank with a net worth of $109 billion. He had overtaken Adani in net worth after his conglomerate's shares crashed following the Hindenburg report last January.

So far in 2024, Adani’s net worth has jumped $26.8 billion while Ambani's wealth has increased by $12.7 billion.

Last week, Adani also expressed his optimism about the future of the group saying that its best days are ahead.

“The road ahead is paved with extraordinary possibilities, and I can promise you that the Adani Group today is stronger than it has ever been," he said.

2023 had been quite challenging for the Adani Group after the Supreme Court ordered a panel to probe the allegations in the Hindenburg report. Adani, who was the third richest person in the world before the report, slipped in the rankings rapidly after the group's shares saw a sell-off.

However, later the Supreme Court ordered the Securities and Exchanges Board of India (Sebi) to conclude its investigation into the Adani Group and said no more probes were needed. Sebi had said that it could not reach an outcome in its probe.

The shares of the Adani Group have rallied after the judgement. In January, Adani had overtaken Ambani after nearly 12 months but later the lead was taken again by Ambani. Now Adani has overtaken Ambani again.

The Bloomberg Billionaires Index showed that currently, Bernard Arnault is currently the richest person in the world with a net worth of $207 billion. He is followed by Elon Musk and Jeff Bezos with total wealth of $203 billion and $199 billion respectively.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 12,2024

cabinet.jpg

New Delhi: The Union Cabinet on Thursday approved bills to implement 'One Nation, One Election', and the draft legislations are likely to be introduced in Parliament in the ongoing Winter session, sources said.

The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

The government is keen on holding wider consultations on bills which are likely to be referred to a parliamentary committee.

Sources said the government was also keen to consult the Speakers of various state legislative assemblies through the committee.

Moving ahead with its 'one nation, one election' plan, the government in September accepted the recommendations of the high-level committee for holding simultaneous polls for the Lok Sabha, state assemblies and local bodies in a phased manner.

Citing recommendations of the high-level committee, sources had said one of the proposed bills would seek to amend Article 82A by adding sub-clause (1) relating to the appointed date. It will also seek to insert sub-clause (2) to Article 82A relating to the end of terms of the Lok Sabha and state legislative assemblies together.

It also proposes to amend Article 83(2) and insert new sub-clauses (3) and (4) relating to the duration and dissolution of the Lok Sabha. It also has provisions related to the dissolution of the legislative assemblies and amending Article 327 to insert the term simultaneous elections.

This bill will not require ratification by at least 50 per cent of the states, the recommendation said.

However, any move to hold local body elections together with Lok Sabha and state assemblies will require ratification by at least 50 per cent of the state assemblies as it deals with matters relating to state affairs.

Another bill will be an ordinary one to amend provisions in three laws dealing with Union territories having legislative assemblies -- Puducherry, Delhi and Jammu and Kashmir -- to align the terms of these Houses with other legislative assemblies and the Lok Sabha as proposed in the first constitutional amendment bill.

The statutes it proposes to amend are the Government of National Capital Territory of Delhi Act-1991, the Government of Union Territories Act-1963 and the Jammu and Kashmir Reorganisation Act-2019.

The proposed bill will be an ordinary legislation not requiring a change in the Constitution and will also not need ratification by the states.

The high-level committee had proposed amendments to three Articles, insertion of 12 new sub-clauses in the existing articles and tweaking three laws related to Union Territories having legislative assemblies. The total number of amendments and new insertions stands at 18.

In its report submitted to the government in March, just before the general election was announced, the panel recommended implementing one nation, one election in two phases.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 17,2024

bombyemen.jpg

US and British warplanes have carried out fresh airstrikes on the Yemeni capital Sana'a and other regions, intensifying attacks as Yemeni Armed Forces continue their anti-Israeli operations in support of the Palestinians in the Gaza Strip amid the regime’s genocide.

Yemen’s al-Masirah television network reported that US and British aircraft targeted the premises of the Yemeni Defense Ministry in the the Assafi'yah district of Sana’a early on Tuesday.

Local sources heard loud explosions echoing from the site of the strikes. 

The report, however, did not provide any details regarding potential casualties or damage.

For his part, the Yemeni information minister vehemently denounced the latest US and British airstrikes against Sana’a, stating that the act of aggression “falls within the framework of attempts to diminish the Yemeni nation’s will to support Palestinian people.”

Hashem Sharaf al-Din underscored that enemies are unable to undermine Yemen’s military capabilities, as its government and nation are standing firm in the face of their vicious and terrorist attacks.

This came hours after the spokesman for the Yemeni Armed Forces announced in a statement that the country’s missile units had carried out a military operation against an Israeli military target in Tel Aviv, using a hypersonic Palestine 2 ballistic missile

Brigadier General Yahya Saree noted that the missile strike was in support of the Palestinians in the Gaza Strip, and successfully achieved its desired objectives.

The Yemeni Armed Forces will continue their operations, and will strike all Israeli facilities within the occupied territories, Saree pointed out, adding that such strikes will not stop unless the ongoing aggression on Gaza ends and the siege is completely lifted.

Early on Monday, American and British warplanes conducted a joint airstrike on targets at the Midi district in Yemen’s northern province of Hajjah.

US and British military aircraft also targeted a number of locations in the At Tuhayta district of the strategic western province of Hudaydah. Details on potential human or material losses from the strikes were not quickly disclosed.

Yemenis have declared their open support for Palestine’s struggle against the Israeli occupation since the regime launched a devastating war on Gaza on October 7, 2023, after the territory’s resistance movements carried out Operation Al-Aqsa Flood against the occupying entity.

The Yemeni armed forces have said they will not stop their attacks as long as Israel continues its ground and aerial offensives in Gaza.

So far, Israel has killed at least 45,028 Palestinians, mostly women and children, and injured 106,962 others in Gaza.

In October, the US military unleashed B-2 stealth bombers to bomb Yemen in support of Israel. Since then, attacks against Yemen have continued in a bid to halt the retaliatory attacks by Sana'a. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 22,2024

modikuwait.jpg

Prime Minister Narendra Modi was on Sunday awarded Kuwait's highest honour ‘The Order of Mubarak Al Kabeer’. It is the 20th international award bestowed upon him by a country.

‘The Order of Mubarak Al Kabeer’ is a knighthood order of Kuwait. It is awarded to Heads of State and foreign Sovereigns and members of foreign royal families in sign of friendship.

“I am honoured to be conferred the Mubarak Al-Kabeer Order by His Highness the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al Sabah. I dedicate this honour to the people of India and to the strong friendship between India and Kuwait,” PM Modi posted on X.

It has been previously awarded to foreign leaders like Bill Clinton, Prince Charles and George Bush.

Last month, PM Modi was conferred with the highest national award of Guyana, 'The Order of Excellence' during his visit to nation.

“I express my heartfelt gratitude to my friend President Irfaan Ali for conferring upon me Guyana's highest award. This is a living proof of your deep commitment to our relations which will continue to inspire us to move forward in every field,” PM Modi had said.

The prime minister was also conferred the "Dominica Award of Honour" by President Sylvanie Burton of Dominica.

"Honoured to be conferred with highest national award by Dominica. I dedicate it to the 140 crore people of India," Modi said in a post on X.

Guard of Honour 

The prime minister received a grand ceremonial welcome in Kuwait during his state visit to the Gulf nation. He was accorded a ceremonial guard of honour at the Bayan Palace, Kuwait. The Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al Sabah also present during the ceremony.

The details of the meeting were also shared by the Spokesperson of the Ministry of External Affairs on X. "A special welcome on historic visit! PM @narendramodi arrives at the Bayan Palace in Kuwait to a ceremonial welcome and Guard of Honour. Warmly received by HH Sheikh Ahmed Abdullah Al-Ahmed Al-Sabah, PM of Kuwait. Extensive talks with HH the Amir, Crown Prince and PM of Kuwait lie ahead."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.