India's wealthiest man owns 44 percent of Reliance Industries, operator of the world's largest oil refinery complex and owner of the nation's biggest natural gas field. Through Reliance, he plans to build the country's first 4G wireless network in 700 cities. Ambani also owns Reliance Gas Transportation and a 27-story Mumbai home worth $500 million.
Vodafone Group Plc and Bharti Airtel Ltd. face an auction to keep using wireless spectrum in India that are set to expire in a year, a sale through which the government seeks to raise 400 billion rupees ($6.4 billion).
Last month, the business empire of Eike Batista, once the world’s seventh-richest man and a mascot of economically resurgent Brazil, collapsed. The disaster ought to focus our minds on the perils of credit-fueled economic growth and highly leveraged corporations not just in Brazil but also in other BRICS countries.
Billionaire brothers Shashikant and Ravikant Ruia, who run India’s second-biggest oil refinery, will increase fuel sales at home as capacity additions in China and the Middle East shrink export margins.
Bonds of companies controlled by billionaires Sunil Mittal and Mukesh Ambani, added in August to Goldman Sachs Group Inc.’s most-favored list, helped investors to the biggest gains in 20 months for India’s dollar debt.
Egon Zehnder International, an executive search firm, is getting three times as many calls as last year at its Mumbai office from Indian companies seeking women for board positions, spurred by a new law.
Galaxy Entertainment Group Ltd. founder Lui Che-Woo’s wealth has leaped by $10.2 billion this year -- and $1 billion in just one day yesterday -- as Macau draws record gaming revenue and his shares hit a new high.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.