According to the Hurun Global Rich List, India leapfrogged Russia and the United Kingdom to third place with 97 billionaires living in the country, 27 more than 2014. Manufacturing, pharma and TMT (technology, media, and telecom) are the preferred sectors. The combined wealth of Indian billionaires, mostly headquartered in Mumbai,...
Acquisition of Rhythm & Hues by Prana Studios
34x118 Holdings Inc., an affiliate of Prana Studios (an American computer animation and visual effects company, based in Los Angeles, with a subsidiary in Mumbai, India), recently won a bankruptcy auction. The company bid just $1.2 million in cash and assumption of up to $17 million in debt in order...
Mukesh Ambani 18th Richest Man In World: Bloomberg
According to the India Journal, Indian business magnate Mukesh Ambani is the 18th richest person in the world on the Bloomberg Billionaires Index, with a personal wealth of $24.7 billion in 2012. Ambani runs Reliance Industries Ltd, a India petrochemicals conglomerate with interests in retailing and some assets in the...
Fracking in India? The country will begin shale oil exploration auctions soon
India will launch its first-ever bid round for exploration of shale oil and gas by December 2013, Oil Minister S Jaipal Reddy. "We are pursuing the development of shale gas in the country. We have undertaken the mapping of shale gas resources and are working to put in place a...
Billion Dollar Ambani housewarming party on Oct 28
Called called Antila, after a mythical island in the Atlantic Ocean, the world's most expensive home has just been completed after seven years of construction. Billionare owner Mukesh Ambani, his wife Nita and three children are set to move into the opulent 27-floor building after an housewarming party on October...