Representative image Gautam Adani, chairman of the Adani Group has topped the IIFL Wealth Hurun list of India's richest Indians in 2022, with Reliance Industries' Mukesh Ambani securing the second position. Adani has moved into the top spot and is the richest man in India with a wealth of Rs 10.94 lakh crore. Adani 's wealth has more than doubled by 116 per cent in the last one-year and added Rs 5.88 lakh crore in absolute terms. For the first time in ten years, Mukesh Ambani lost the top ranking despite his wealth increasing by 11 per cent in the last year. His wealth is pegged at Rs 7.94 lakh crore and has increased by 115 per cent in the last five years, according to IIFL Wealth. Also Read: IIFL Wealth Hurun India Rich List 2022: 43 real estate developers make it to the list Cyrus S Poonawalla of Serum Institute of India secured the third position on the list with his wealth increasing by Rs 41,700 crore in the last one year. Poonawalla's privately held company … [Read more...] about Gautam Adani tops IIFL Wealth Hurun list of richest Indians, startup founders make a big entry
Reliance industries
Why China Is Building A New City Out In The Desert Of Oman
Share to Twitter Share to Linkedin Chinese investors pose for a picture in the land where an industrial city, including an oil ... [+] refinery, is due to be built following an economic agreement, in the port town of Duqm. (MOHAMMED MAHJOUB/AFP/Getty Images) Nobody is going to confuse the dusty fishing village of Duqm for Dubai. But Oman intends to change this by building an entirely new, $10.7 billion transit-oriented industrial city on the desertified coast of the Arabian Sea, 550 kilometers south of Muscat. More accurately, China intends to change this by building an entirely new $10.7 billion transit-oriented industrial city … A year ago, Oman signed a deal and opened the doors for a Chinese consortium to move in and do what they seemingly like to do best: build a new boomtown . After constructing dozens of full-scale new cities and completely re-developing dozens more in their own country, Chinese firms are now moving out along … [Read more...] about Why China Is Building A New City Out In The Desert Of Oman
A Look At 7 New Cities Rising Along The New Silk Road
Share to Twitter Share to Linkedin New cities are rising all along the revitalized trade routes of what has been dubbed the New Silk Road -- an enhanced network of economic corridors stretching between China and Europe -- as participating countries attempt to build new economies based on logistics, manufacturing and cross-border commerce from the ground up. One statement that I've heard repeated over and over again as I've traveled these routes is: "X years ago there was nothing here." From the west of China to the east of Europe, new large-scale infrastructure is being built as the economic dynamics of Eurasia are undergoing a fundamental transition. Lanzhou New Area, China “Four years ago, all mountains,” I was told last year as I arrived in Lanzhou New Area , a new urban core 30 kilometers outside of the historic center of Lanzhou, the capital of China's western Gansu province. Hundreds of barren, desert-ified loess mountains and hills … [Read more...] about A Look At 7 New Cities Rising Along The New Silk Road
China’s Seaport Shopping Spree: What China Is Winning By Buying Up The World’s Ports
Share to Twitter Share to Linkedin Container ship Cosco Development. /RODRIGO ARANGUA/AFP/Getty Images In a bid to bolster its position as a maritime powerhouse, secure key supply chains, enhance its international trade capacities, and build up geo-economic leverage, China has been buying up the development and operational rights to a chain of ports that stretch from the southern realms of Asia to the Middle East, Africa, Europe, and even South America. While big Chinese state-owned firms began acquiring ports around the world rather quietly roughly a decade or so ago, now, under the strategic framework of what has been dubbed the 21st Century Maritime Silk Road (MSR) — the watery part of the broader Belt and Road Initiative (BRI) — these acquisitions have taken on a booming significance as this inter-continental network begins to take shape. It seems as if it is now almost daily news to hear about how a Chinese state-owned shipping firm has … [Read more...] about China’s Seaport Shopping Spree: What China Is Winning By Buying Up The World’s Ports