Skip to main content

Mukesh Ambani no more Asia's richest man


According to the Bloomberg Billionaires Index, Chinese billionaire Jack Ma, the founder of e-commerce major Alibaba Group has toppled Ambani to get the top spot in Asia

Background

The persivering concerns of severe impact of the coronavirus epidemic coupled with the recent carnage in the oil markets have erased $5.8 billion from the RIL chief's net worth. Stock markets across the world have been feeling the heat . Be it India or US , stock prices have come tumbling down because of coronavirus and fluctuation in the crude oil prices.

Details

➤Ambani's current net worth amounts to $41.8 billion, while that of Jack Ma stands at $44.5 billion. Globally, Ambani is the 19th richest man just behind Jack Ma who is at the 18th rank.
➤The shares of Reliance Industries (RIL) recorded its worst fall in around 10 years on Monday as it fell to a low of Rs 1,094.95 per share.

what is bloomberg billionaires index?

➤ The Bloomberg Billionaires Index is a daily ranking of the world's richest people.  It tracks the 500 wealthiest people in the world. The ranking was designed to provide a more transparent and accountable presentation of the world's biggest personal fortunes.To know more click here...
Labels:

Comments

Post a Comment

Popular posts from this blog

Antarctica experiences first known heat wave

Researchers from the Australian Antarctic Program revealed that they had recorded temperatures as high as 9.2 degrees Celsius at Casey station in the continent east earlier this year, indicating a heatwave event. Background Heat waves are classified as three consecutive days with both extreme maximum and minimum temperatures. Between January 23 and 26, the station recorded minimum temperatures above zero degrees Celsius and a maximum temperature of 9.2 degrees Celsius. Details ➤ Scientists are concerned about the effect that the heat wave could have on Antarctica’s ecology,  both positive and negative. ➤ Most life exists in small ice-free oases in Antarctica, and largely depends on melting snow and ice for their water supply. ➤ Melted ice flooding can provide additional water to these desert ecosystems, leading to increased growth and reproduction of mosses, lichens, microbes and invertebrates. However excessive flooding can dislodge plants and alter the co...
Post a Comment
Read more

India Unemployment Rate Increased After Lockdown

The Centre for Monitoring Indian Economy (CMIE) has said that the unemployment rate shot up in March. The employment rate in the economy fell to an all-time low of 38.2 percent in March 2020. Background With the coronavirus outbreak severely affecting every country, its impact on an already hobbling Indian economy is set to be devastating if the latest data on unemployment rate is taken as an indicator.  Details   Ø The Labour Participation Rate (LPR) in March 2019 was 42.7 percent. This is the first time the LPR has fallen below 42 percent. Ø The monthly figures from the CMIE that were released recently also show a curious inversion. In urban India, unemployment among the uneducated is at a higher level than those with a graduate degree (13%), for the first time since early-2016. Ø Most of the people are employed in service sector jobs in construction, repair, or unorganized transport, all of which have come to a standstill due to the current lockd...
Post a Comment
Read more

Universe expansion may not be Uniform

Astronomers have assumed for decades that the Universe is expanding at the same rate in all directions. A new study based on data from ESA's XMM-Newton, NASA's Chandra and the German-led ROSAT X-ray observatories suggests this key premise of cosmology might be wrong. Background Researchers set out to verify a new method that would enable astronomers to test the so-called isotropy hypothesis. According to this assumption, the Universe has, despite some local differences, the same properties in each direction on the large scale. Details Ø Widely accepted as a consequence of well-established fundamental physics, the hypothesis has been supported by observations of the cosmic microwave background (CMB). Ø A direct remnant of the Big Bang, the CMB reflects the state of the Universe as it was in its infancy, at only 380 000 years of age. Ø The CMB's uniform distribution in the sky suggests that in those early days the Universe must have been expand...
Post a Comment
Read more