Top Headlines: Adani becomes world's 3rd-richest; Ambani's plans for RIL

Billionaire Gautam Adani this week became the world’s third-richest person. It’s the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index. Reliance Industries Ltd (RIL) set the tone for the future during its 45th annual general meeting, saying it would aim to double its market value by 2027. Read more on these in our top headlines.

Gautam Adani becomes world's third-richest person, first Asian to do so

Billionaire Gautam Adani this week became the world’s third-richest person. It’s the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index -- fellow citizen Mukesh Ambani and China’s Jack Ma never made it that far. With a $137.4 billion fortune, Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking. Read more

Reliance aims to double its value in 5 years as it gets future-ready

Reliance Industries Ltd (RIL) set the tone for the future during its 45th annual general meeting, saying it would aim to double its market value by 2027, the year the company celebrates its golden jubilee. The company will invest Rs 2 trillion in the roll-out of a standalone 5G network, Rs 75,000 crore in expanding its O2C (oil-to-chemicals) capacities across value chains, and Rs 75,000 crore in new energy as announced last year. Read more

Mukesh Ambani makes succession clear to shareholders at Reliance AGM

Twenty years after being appointed chairman and managing director of Reliance Industries (RIL), Mukesh Ambani on Monday announced the family succession plan for his group when he listed the separate businesses his three children would lead. Akash will head the digital business housed in Jio, his twin sister Isha the retail division. Their younger sibling Anant has joined the new energy business. Ambani said the siblings have inherited his father and RIL founder Dhirubhai Ambani’s mindset. Read more

Economy faces resilience test as policymakers prioritise prices over growth

India’s economy probably grew at the fastest rate in a year last quarter driven by healthy consumption, but the pace of expansion is seen slowing as policymakers prioritize rising prices over growth. GDP is estimated to rise 15.4% in the three months to June from a year ago, according to a Bloomberg survey of economists. Read more

Tharoor may contest for Cong prez poll, to take final call soon: Report

Senior Congress leader Shashi Tharoor is exploring the possibility of running for the post of Congress president though he is yet to take a final call on it, sources said. They said he has not made up his mind but could take a call on it soon. Read more

India's shaky energy security and growing dependency on foreign fuels

Among all the major nations, both developed and developing, India is perhaps the most dependent on foreign fuels. And, along with economic expansion and population growth, this dependency is increasing steadily. Read more