India’s first bulk drugs park to be set up in Gujarat’s Bharuch.

Gujarat chief minister Bhupendra Patel on Friday announced the setting up of the country’s first bulk drug park in Bharuch with an estimated cost of ₹2,300 crore.The bulk drugs park is being set up by the Gujarat government under the guidelines of the scheme “Promotion of Bulk Drug Parks” issued...

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Gautam Adani is now the world’s 3rd richest, surpasses Louis Vuitton boss.

Gautam Adani is now the third richest person in the world, according to the latest Bloomberg Billionaires data. With a net worth of $137 billion, the 60-year-old business tycoon trails Elon Musk and Jeff Bezos on the coveted list.While Telsa chief Musk has a net worth of $251 billion, Amazon founder...

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Billionaire investor Rakesh Jhunjhunwala dies at 62.

Billionaire investor Rakesh Jhunjhunwala died on Sunday morning at 62 in Mumbai. Jhunjhunwala was one of the co-founders of Akasa Air, India's newest budget airline.The veteran investor - often called the ‘Warren Buffet of the Indian market’ - was reported to be unwell for some time. His net worth...

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Abu Dhabi’s IHC acquires 50% stake in Turkish clean energy company Kalyon Enerji.

Abu Dhabi-based International Holding Company (IHC) announced the acquisition of a 50 per cent stake in Turkish clean energy market leader ‘Kalyon Enerji’ for Dhs1.8bn through its subsidiary, International Energy Holding.Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates...

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Indian oil corp unit in Sri Lanka to open 50 new fuel stations to fight crisis.

Sri Lanka has given approval for India's Lanka Indian Oil Corporation (LIOC) to open 50 new fuel stations, a company official said on Monday, as part of efforts to reduce severe shortages that have crippled the island nation.Sri Lanka is caught in its worst financial crisis in more than 70 years as a shortage...

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Gujarat: Tata Motors EV subsidiary acquires Ford’s Sanand plant for ₹725 crore.

Tata Passenger Electric Mobility Ltd (TPEML), a subsidiary of Tata Motors Ltd, on Sunday signed an agreement to acquire the manufacturing plant of Ford India Private Limited (FIPL) at Sanand in Gujarat for a total consideration of ₹725 crore (excluding taxes), an official statement said.The deal includes...

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With $208 billion in fortunes, Ambani and Adani start to face off.

In June, Indian billionaire Mukesh Ambani and his aides ran into an unexpected dilemma when debating where to train the dealmaking lens of his empire next. Ambani’s Reliance Industries Ltd. was contemplating buying a foreign telecommunications giant, when word reached them that Gautam Adani -- who had overtaken...

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PM Modi launches India’s 1st international bullion exchange in Gandhinagar.

Prime Minister Narendra Modi on Friday launched India's first international bullion exchange - India International Bullion Exchange (IIBX)- in Gujarat. The bullion exchange was launched at the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.According...

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Bill Gates donates $6 bn to Gates Foundation, days after pledging $20 bn.

Microsoft co-founder Bill Gates has reportedly donated shares worth $6 billion to the Bill and Melinda Gates Foundation – run by him and his ex-wife Melinda French Gates – in an apparent bid to remove himself from the world’s richest list. According to a Securities and Exchange Commission (SEC)...

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‘Awful’ Snap sales wipe $76 billion from social media stocks.

US social-media companies saw nearly $80 billion wiped off their stock-market values Friday, after disappointing revenue from Snap Inc. and a lackluster report from Twitter Inc. raised concerns about the outlook for online advertising.The Snapchat parent plummeted as much as 36% Friday to its lowest...

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