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Tag: India

Cumulative Wealth Jumps to $800 Billion

Cumulative Wealth Jumps to $800 Billion

Business
The combined wealth of India’s 100 richest has grown by $25 billion to touch $800 billion in 2022, Forbes India has reported.The gain was largely due to a record-breaking feat by infrastructure tycoon Gautam Adani, which changed the pecking order at the top for the first time since 2008. After nearly tripling his wealth in 2021, Adani doubled his fortune this year to $150 billion to become the new No 1—and also, for a while, the second richest person on the planet. The biggest gainer this year in both percentage and dollar terms, Adani announced he would be investing $100 billion over the next decade, 70 per cent of it in green energy.Mukesh Ambani, who controls Reliance Industries [owner of Network18, the publisher of Forbes India], the oil and gas to telecom giant, is at No. 2 with $8...
10 trade unions boycott finance ministry’s virtual pre-budget consultations, demand physical meeting | India News

10 trade unions boycott finance ministry’s virtual pre-budget consultations, demand physical meeting | India News

Business
NEW DELHI: A joint forum of ten central trade unions has decided to boycott the virtual pre-budget consultation with finance minister Nirmala Sitharaman on November 28, demanding a physical meeting with reasonable time to speak. Pre-budget consultation is an annual exercise under which representatives of different sectors give suggestions and raise demands to be addressed through the Budget. In a letter shot off on Friday, the forum stated, "Now your email dated November 25, 2022 under reference, makes it explicit that each central trade union will be allowed to speak for three minutes. This is a joke and we refuse to be part of such a cheap joke. We will not participate in the proposed video conference on November 28, 2022." Earlier on Friday, in a letter shot off to the finance minist...
Gold dips At AED 6,371.12/Ounce, Silver follows in at AED 76.96

Gold dips At AED 6,371.12/Ounce, Silver follows in at AED 76.96

Business
The gold price in the UAE, including Dubai, on Wednesday, recorded a slight dip as the rate of 24-carat gold dropped by 1.00 AED in the morning session to reach AED 210.25 (Rs 4,683) per gram. Similarly, the 22-carat variety of gold traded lower by 0.75 AED and is priced at 197.50 AED (INR 4,400). In terms of ounces, too, gold was trading lower, down by 29.37 AED (INR 654). The price of yellow metal per ounce in UAE was AED 6,371.12 (INR 141,928).Dubai Gold and Jewellery Group data showed that silver was also down at AED 76.96 (Rs 1714). The currency of the United Arab Emirates is the Emirati Dirham, abbreviated as AED. One Emirati Dirham (AED) is presently worth Rs 22.27 INR.In Dubai, the 21-Carat was trading cheaper at AED 188.50, and 18-karat was also following the trend at AED 161.5...