Gautam Adani becomes world’s 2nd-richest person all of a sudden

News Network
September 16, 2022

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Mumbai, Sept 16: Indian industrialist Gautam Adani briefly became the world's second-richest person on the Forbes real-time billionaire tracker on Friday, weeks after becoming the first Asian to break into the top three.

The self-made billionaire's net worth surged $4 billion overnight to $154 billion, according to Forbes, ranking him ahead of LVMH's Bernard Arnault and Amazon's Jeff Bezos.

Tesla founder Elon Musk remained well out in front with a fortune of more than $270 billion.

Arnault -- who at times held the top spot in May 2021 -- and Adani traded the number two position during the day as the share prices of their companies fluctuated.

Adani, 60, made his fortune in ports and commodities trading and now operates India's second-largest conglomerate with interests ranging from coal mining and edible oils to airports and news media.

His ballooning net worth reflects a stratospheric rise in the market capitalisation of his publicly listed companies, as investors back the Adani Group's aggressive expansion of old and new businesses.

Shares in the flagship Adani Enterprises -- of which the billionaire owns 75 per cent -- have soared more than 2,700 per cent since March 2020, and doubled in value in the past six months.

Stock price surges in other group companies including Adani Transmission, Adani Power, Adani Ports and Adani Green Energy catapulted Adani past fellow Indian billionaire Mukesh Ambani this year.

Analyst estimates indicated the market capitalisation of Adani's seven listed companies also briefly overtook those of the Tata group on Friday morning, making the Adani Group India's largest conglomerate.

Born in the city of Ahmedabad in the western state of Gujarat to a middle-class family, Adani dropped out of college to work in the diamond industry before starting his export business in 1988.

In 1995, he won a contract to build and operate a commercial shipping port at Mundra in Gujarat, which has since grown to become India's largest port.

At the same time, Adani expanded into thermal power generation and coal mining in India and overseas.

In recent years, the conglomerate has forayed into petrochemicals, cement, data centres and copper refining, in addition to establishing a renewable energy business with ambitious targets.

Recent investments in Indian news media and a bid for 5G airwaves this year have raised speculation that the billionaire's empire could soon impinge on sectors dominated by Ambani's Reliance Industries.

But Adani's rapid expansion into capital-intensive businesses has also raised financial alarms, with Fitch Group's CreditSights last week reiterating that they "remain concerned over the Adani Group's leverage".

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News Network
February 1,2026

Bengaluru, Feb 1: For travelers landing at Kempegowda International Airport (KIA), the sleek, wood-paneled curves of Terminal 2 promise a world-class welcome. But the famed “Garden City” charm quickly withers at the curb. As India’s aviation sector swells to record numbers—handling over 43 million passengers in Bengaluru alone this past year—the “last mile” has turned into a marathon of frustration.

The Bengaluru Logjam: Rules vs Reality

While the city awaits the 2027 completion of the Namma Metro Blue Line, the interim has been chaotic. Recent “decongestion” rules at Terminal 1 have pushed app-based cab pickups to distant parking zones, forcing weary passengers into a 20-minute walk with luggage.

“I landed after ten months away and felt like a stranger in my own city,” says Ruchitha Jain, a Koramangala resident. “My driver couldn’t find me, staff couldn’t guide me, and the so-called ‘Premium’ lane is just a fancy tax on convenience.”

•    The Cost of Distance: A 40-km cab ride can now easily cross ₹1,500, driven by demand pricing and airport surcharges.

•    The Bus Gap: While Vayu Vajra remains a lifeline, its ₹300–₹400 fare is often cited as the most expensive airport bus service in the country.

A National Pattern of Disconnect

The struggle is not unique to Karnataka. From Chennai’s coast to Hyderabad’s plateau, India’s airports tell a familiar story: brilliant runways, broken exits.

City:    Primary Issue   |    Recent Development

Bengaluru:    Cab pickup restrictions & distance  |    App-based taxis shifted to far parking zones; long walks and fare spikes reported

Chennai:    Multi-Level Parking (MLCP) hike  |    Passengers report 40-minute walks to reach cab pickup points

Hyderabad:    “Taxi mafia” & touting  |    Over 440 touting cases reported; security presence intensified

Mumbai:    Fare scams  |     Tourists charged ₹18,000 for just 400 metres, triggering police action

In Hyderabad, travelers continue to battle entrenched local groups that intimidate Uber and Ola drivers, pushing passengers toward overpriced private taxis. Chennai flyers, meanwhile, complain that reaching the designated pickup zones now takes longer than short-haul flights from cities like Coimbatore.

The ‘Budget Day’ Hope

As Finance Minister Nirmala Sitharaman presents the Union Budget 2026 today, the aviation sector is watching closely. With the government’s renewed emphasis on multimodal integration, there is cautious hope for funding toward seamless airport-metro-bus hubs.

The vision is clear: a future where planes, trains, and metros speak the same language. Until then, passengers at KIA—and airports across India—will continue to discover that the hardest part of flying isn’t the thousands of kilometres in the air, but the last few on the ground.

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Chandramohan
 - 
Friday, 6 Feb 2026

Sir, I request the airport authorities to introduce a free transport services from terminal 1 to terminal 2 as is very difficult for the passengers to reach terminal 2 along with their luggage. Also a trolley should be provided to reach the counter. Hope the authorities would help the passengers as soon as possible.

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coastaldigest.com news network
February 5,2026

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Mangaluru: The KSRTC Mangaluru division has rolled back the fare hike on buses operating on the Mangaluru–Kasaragod route following the suspension of toll collection at the Arikkady toll plaza near Kumbala in Kasaragod district.

The fare revision had been implemented after the National Highways Authority of India (NHAI) began toll collection at the Arikkady plaza on NH-66. As a result, fares for ordinary and Rajahamsa services were increased by ₹7 and ₹10, respectively, raising the bus fare from Mangaluru to Kasaragod from ₹81 to ₹88.

Senior Divisional Controller of KSRTC’s Mangaluru division, Rajesh Shetty, said the fares were reduced after toll collection at the Arikkady plaza was stopped. “The tollgate began operations on January 13, and the toll amount was deducted from the FASTag accounts of KSRTC buses operating on the route. Following an order from the central government to suspend toll collection, KSRTC has also withdrawn the additional fare with immediate effect,” he said.

At present, vehicles travelling on the Mangaluru–Kasaragod route pay toll only at the Talapady toll plaza. The toll for light motor vehicles (LMVs) at Talapady is ₹80 for a same-day return, while heavy vehicles, including buses, are charged ₹250. At Arikkady, the toll rates were ₹130 for LMVs (same-day return) and ₹450 for buses.

Protests against Arikkady toll plaza

The Arikkady toll plaza witnessed widespread protests from January 12, the day toll collection commenced. On the second day, an action committee led by Manjeshwar MLA A K M Ashraf launched an indefinite protest at the site. Except for the BJP, leaders and workers of most major political parties participated in the agitation.

On the night of January 14, a large number of protesters gathered at the plaza and vandalised property, following which authorities temporarily suspended toll operations. The BJP later also expressed opposition to the toll plaza and criticised NHAI’s decision. 

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News Network
February 1,2026

US President Donald Trump on Saturday claimed that the government of India led by Prime Minister Narendra Modi has made a deal to buy Venezuelan oil, as opposed to purchasing it from Iran.

"We've already made that deal, the concept of the deal," he told reporters on Air Force One.

Trump had imposed 25% tariffs on countries buying Venezuelan oil, including India, in March 2025. He had also hit India with tariffs for buying Russian oil, saying it was "funding" President Vladimir Putin's war against Ukraine.

Trump has said that the US has taken control of the oil-rich Venezuela after capturing former President Nicolas Maduro in January.

A fleet of 18 ships loaded with crude oil bound for refineries in Texas, Louisiana, and Mississippi in January, the most since December 2024, according to a report by the news agency Bloomberg.

Combined crude deliveries to the US will reach about 2,75,000 barrels a day, more than doubling volumes seen in December last year. Shipments to China, which averaged 4,00,000 barrels a day last year, fell to zero in January.

PM Modi, Venezuelan President Agree To Expand Ties

Prime Minister Narendra Modi and Venezuela's acting President Delcy Rodriguez spoke on Friday and agreed to take the bilateral relations to "new heights" in the years ahead.

It was the first phone call between the two leaders since the capture of Maduro and his wife by the US on January 3.

"Spoke with Acting President of Venezuela, Ms. Delcy Rodriguez. We agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead," PM Modi said in a post on X.

A statement from Prime Minister Modi's office said the two leaders agreed to further expand and deepen the India-Venezuela partnership in all areas, including trade and investment, energy, digital technology, health, agriculture, and people-to-people ties.

They exchanged views on various regional and global issues of mutual interest and underscored the importance of their close cooperation for the Global South, the statement said.

Rodriguez also said that they discussed partnerships in the fields of agriculture, science and technology, mining, and tourism, as well as the pharmaceutical and automotive industries.

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