Gautam Adani added more billions to his wealth than anyone in the world this year

News Network
March 12, 2021

Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.

The net worth of Adani, a first-generation entrepreneur who rarely speaks publicly, has jumped $16.2 billion (Rs 1,179.44 cr) in 2021 to $50 billion, according to the Bloomberg Billionaires Index. This has made him the year’s biggest wealth gainer, beating even Jeff Bezos and Elon Musk, who have tussled in 2021 for the title of world’s richest. Shares of all Adani group stocks, except one, have rallied at least 50% this year.

The surge in wealth dwarfs the $8.1 billion added by Adani’s compatriot and the richest person in Asia, Mukesh Ambani. It also underscores the rising heft of the self-made billionaire, who has lured investment from Total SA to Warburg Pincus. Adani has been rapidly expanding his conglomerate, adding ports, airports, data centers and coal mines in India, while doggedly proceeding with his controversial Carmichael coal project in Australia.

“Adani has been consistently expanding its business in areas that are resilient to market cycles,” said Sunil Chandiramani, founder and chief executive officer at Nyka Advisory Services. “Now with the entry in data centers business, the group has also indicated its appetite for venturing into technology.”

Adani Enterprises Ltd. signed a pact last month to develop 1 gigawatt of data center capacity in India.

Adani Total Gas Ltd. has jumped 96% this year while the flagship Adani Enterprises has advanced 90%. Adani Transmission Ltd. is up 79%. Adani Power Ltd. and Adani Ports and Special Economic Zones Ltd. have gained more than 52% this year. Adani Green Energy Ltd., after rising over 500% last year, is up 12% so far. 

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News Network
May 7,2024

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Israeli military aircraft have heavily bombed the city of Rafah in the southern Gaza Strip accompanied with ground advances shortly after the Palestinian resistance movement Hamas said it had agreed to a proposal on ceasefire in Gaza.

A Palestinian journalist reported flares in the night sky, while locals said dozens of reconnaissance drones flew overhead.

The official Palestinian news agency Wafa and Egyptian media said Israeli military vehicles advanced towards the Palestinian side of the Rafah crossing with Egypt, as well as the Karem Shalom crossing with the Israeli-occupied territories.

A Palestinian security official and an Egyptian authority have told the Associated Press news agency that Israeli tanks have entered Rafah, reaching as close as 200 meters from Rafah’s border crossing with neighboring Egypt.

The Israeli military has said it was conducting “targeted strikes” against Hamas in eastern Rafah.

Israeli prime minister Benjamin Netanyahu's office has also said "Israel is continuing the operation in Rafah to exert military pressure on Hamas" in order to advance the release of captives and what it called "the other objectives of the war."

In the meantime, it described the proposal on ceasefire as "far from Israel's essential demands," but added that it would send negotiators for talks "to exhaust the potential for arriving at an agreement."

The military strikes on Rafah came ahead of talks in Egypt on Tuesday aimed at sealing a truce proposal accepted by Hamas, which was put forward by Qatari and Egyptian mediators. 

According to a copy of the proposal, there will be three phases to ending Israel’s onslaught against Gaza.

The first phase calls for a complete withdrawal of Israeli troops from the Netzarim corridor and the return of displaced Palestinians to their homes. The second phase involves an announcement of a permanent cessation of military operations. In the last phase, there would be a complete end to the blockade of the Gaza Strip. 

In return, Israel would be required to release an unspecified number of Palestinian prisoners, withdraw its troops from certain regions of the Gaza Strip, and allow Palestinians to travel from the south of the coastal sliver to the north.

About 1.5 million Palestinians are sheltering in Rafah, once designated a “safe zone” by the Israeli military. Palestinians are now struggling to evacuate the city, after the Israeli military dropped leaflets ordering them to leave as a large-scale assault on the city is planned.

UN Secretary General Antonio Guterres has said that a ground invasion of Rafah would be “intolerable” and called on Israel and Hamas “to go an extra mile” to reach a truce deal.

“This is an opportunity that cannot be missed, and a ground invasion in Rafah would be intolerable because of its devastating humanitarian consequences, and because of its destabilizing impact in the region,” Guterres told reporters on Monday ahead of a meeting with Italian President Sergio Mattarella in New York.

Jordanian Foreign Minister Ayman Safadi has also warned that Israel is “jeopardizing the deal by bombing Rafah.”

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News Network
May 6,2024

Mangaluru, May 6: A five-year-old girl from Arendur village of Siddapura taluk of Uttara Kannada district died of Kyasanur Forest Disease (monkey fever) recently.

As her health deteriorated, she was admitted to the KMC Hospital in Mangaluru, where she failed to respond to the treatment and died on Friday night.

It is learned that the KFD is slowly spreading to the newer areas of coastal and malnad areas of Karnataka

According to officials, KFD spreads due to bites of ticks that generally survive on monkeys. This tick bites humans which causes the infection. Humans also contract the disease by coming in contact with cattle bitten by ticks.

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News Network
May 8,2024

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Mangaluru: Congress leader and five-time Belthangady MLA K Vasanth Bangera, passed away on Wednesday, at a private hospital in Bengaluru on Wednesday. He was 79.

His health condition had worsened recently, and he was shifted to Bengaluru for treatment. His body is likely to be brought to Belthangady on May 9 and will be kept for public homage, family sources said.

He has the credit of contesting from all three parties - BJP, Janata Dal and Congress. Since 1983, he had contested nine assembly elections and won five times.

Bangera had entered the Legislative Assembly by winning Belthangady constituency as a BJP candidate in 1983 against Gangadhar Gowda of the Congress.

He won had the elections again in 1985 and later joined the Janata Dal. However, he lost the election against Gangadhar Gowda of Congress in 1989.

He became an MLA once again for the third time in 1994. In the 1999 election, Bangera lost to his brother Prabhakar Bangera who contested from BJP.

In 2008, Bangera joined the Congress and won the elections for the fourth time. In 2013, he had once again won the elections against Ranjan Gowda of the BJP, but he also lost the elections to sitting MLA Harish Poonja of the BJP in 2018.

He was born to Kede Subba Poojary and Devaki. He is survived by his wife Sujitha V Bangera, and two daughters Preethitha and Binutha.
 

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