New Delhi: The Indian coal mining tycoon Gautam Adani has become Asia’s richest person thanks to a push into green energy that has boosted his fortune to $88.5bn, The Guardian reported.
Adani has overtaken fellow countryman Mukesh Ambani to enter the top 10 of the world’s richest people, according to figures from Forbes and Bloomberg, after seeing his personal fortune rise by $12bn in the past year.
Among the mega-rich whom Adani has leapfrogged to reach the world top 10 are Facebook founder Mark Zuckerberg, who slipped down the table several places last week after losing $ 30 billion of his personal fortune, the report said.
His Adani Group controls the port of Mundra, India’s largest, in the mogul’s home state of Gujarat and he also owns 74 per cent of Mumbai international airport.
But his push into green energy has paid off handsomely in the past year with the listed company Adani Green Energy now his most valuable after its share price almost doubled in the past 12 months, the report said.
The group is in the process of ploughing $70bn into green energy projects by 2030 with the aim of becoming the world’s largest renewable-energy producer. (IANS)
Sensex, Nifty witness worst week since March 15 amid Iran-Israel conflict
Mumbai: Ending a four-day losing streak, India's benchmark indices closed higher on Friday led by HDFC Bank and Bajaj Finance, among other factors. The Sensex ended 599 points, or 0.83...
UNCTAD forecasts India’s GDP growth at 6.5 pc in 2024
New Delhi: The latest UN Conference on Trade and Development (UNCTAD) report released on Tuesday forecasts global economic growth at 2.6 per cent in 2024 barely above the 2.5 per...
‘Above normal monsoon rainfall in 2024 bodes well for agricultural sector’
Chennai: The India Meteorological Department's (IMD) above-normal rainfall forecast for 2024 southwest monsoon (June-September) bodes well for the agriculture sector and will also keep a check on food prices, an...
RBI projects GDP growth at 7 pc for 2024-25, retail inflation seen at 4.5 pc
Mumbai: India's GDP growth for 2024-25 is projected at 7 per cent while the forecast for inflation for the year has been retained at 4.5 per cent, RBI Governor Shaktikanta...
RBI leaves key repo rate unchanged, focus on keeping inflation in check
Mumbai: The Reserve Bank of India (RBI), on Friday, left the key policy rate unchanged at 6.5 per cent in its monetary policy review for the seventh consecutive time, with...
RBI may cut repo rate only in Q3 FY25: SBI economist
Chennai, April 2 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) may cut repo rate only in the third quarter of FY25 and not before, said a...
World should develop the concept of Green GDP: PM Modi
New Delhi: Prime Minister Narendra Modi on Friday said India is making rapid advancements in the renewable energy sector, like solar, wind energy and green hydrogen, thus building 'Green GDP'...
US court orders Byju’s to freeze $533 million owed to lenders
New York: The steering committee representing term-loan lenders of Byju's $1.2 billion loan on Friday said that a US judge has ordered to prohibit further movement or use of $533...
Strong demographic trend a structural positive for India: Morgan Stanley
New Delhi: India’s demographic trend of a younger workforce positions it positively as most large economies face shrinking working-age populations and tight labour markets, global brokerage, Morgan Stanley said. Per...
EAM Jaishankar calls FTA with four European nations ‘a bold achievement’
New Delhi: Calling the signing of the India-EFTA Trade and Economic Partnership Agreement (TEPA) a "bold achievement", External Affairs Minister S. Jaishankar said on Sunday that the move reflects a...
India has 8,000 startups led by women with $23 bn in funding: Report
New Delhi: India is now home to more than 8,000 startups that have women founders with a cumulative funding of nearly $23 billion till now, a report showed on Thursday....
RBI’s punitive actions will keep NBFCs on the edge
New Delhi: In continuation with its system clean-up mission, the RBI imposed an embargo on IIFL’s gold loan business on March 4 and on JM Financial Products’ (subsidiary of JM...
