Two Indians, energy mogul Mukesh Ambani and steel czar Lakshmi Mittal, have made it to the Forbes list of ‘World’s Most Powerful Billionaires’ combining massive fortunes with political clout.
“Through his industrial might, Mukesh Ambani, ranks eighth,” in the US business magazine’s annual list topped by Michael Bloomberg, mayor of New York City. Mittal ranks 13th on the list.
Bloomberg also “lords over the media, finance and fashion capital of the US and arguably the world”.
“Mukesh Ambani controls oil and gas conglomerate Reliance Industries. With a market value of more than $73 billion, the firm is India’s biggest independent company.”
Compatriot Lakshmi Mittal – India’s second wealthiest with a net worth of $30 billion – heads ArcelorMittal, the world’s largest steel maker, and ranks 13th on the list. The steel giant operates in 60 countries and has market value of $65 billion.
Mukesh Ambani, Forbes noted, has grown his section of the business inherited from father Dhirubhai’s massive industrial empire with brother Anil in 2002. Anil leads banking and telecom companies while Mukesh controls energy entities. Reliance Industries Ltd, let by Mukesh Ambani is a power to reckon with in oil, gas and petroleum exploration and production along with several solar energy initiatives under the banner of Reliance Solar Group.”
Mittal started in the family steel business in the 1970s, broke out on his own in 1994 and is now planning joint iron venture in Liberia and Guinea with miner BHP Billiton, it noted. “Bought 12-bedroom mansion in Kensington for more than $100 million in 2004; was London’s most expensive home at the time.”
Billionaire Sebastian Piñera who won Chile’s presidential election, defeating incumbent Eduardo Frei in a runoff vote is ranked 15th on the list which has two other billionaires currently running countries.
“Media and banking titan Silvio Berlusconi is prime minister of Italy and ranks second on Forbes list. Billionaire industrial heir, Saad Hariri, who was appointed prime minister of Lebanon Iast June, ranks fifth.
Rounding out the top five: Mexican telecom titan Carlos Slim and Russian oil magnate Vagit Alekperov.
Apple’s Steve Jobs ranks as the 18th most powerful billionaire in the world. Billionaires falling from the ranks this year include Oprah Winfrey, Roman Abramovich and Prince Alwaleed Bin Talal Alsaud.

Source:http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/Mukesh-Ambani-Lakshmi-Mittal-among-Worlds-Most-Powerful-Billionaires/articleshow/5510218.cms

Mukesh Ambani’s Reliance Industries, owner of the world’s largest oil refining complex, has leased storage to store gasoline at the Borco oil terminal in the Caribbean, industry sources said on Thursday.
The deal on the 500,000 barrels storage facility was secured sometime towards the end of last year, traders said. “We know they have their eyes on the domestic US market, that is no secret, but it is going to be a while before we see demand there pick-up to pre (financial) crisis levels,” a Singapore based trader said. “So now Reliance is also looking at other long markets further South,” a Singapore based gasoline trader said.

Reliance, which operates two mega-refineries in the West Coast of India that has a combined crude processing capacity of 1.24 million barrels per day (bpd), has over the past few years embarked on a robust marketing campaign for their products in Europe, Latin Ameica, East Africa and the United States.

Source:http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/Reliance-leases-storage-in-the-Caribbean/articleshow/5509090.cms

Reliance Industries Ltd chairman Mukesh Ambani said that Mumbai belongs to all Indians and its cabbies are trapped in the licence raj. “We are all Indians first. Our cities—whether Mumbai, New Delhi, Kolkata or Chenna—belong to all Indians. There should be equal opportunities. We, in corporate India, have got out of the licence raj but the poor taxiwallah is still trapped (in the licence raj),” he said.
Ambani was participating in a panel discussion at the launch of Not by Reason Alone: The Politics of Change in India, by Rajya Sabha MP and former bureaucrat NK Singh, organised by The Express Group and LSE India Observatory in association with Reliance Industries Ltd, Tata Group, Confederation of Indian Industry (CII), NDTV, HT Media Limited & Penguin Books India.
The book is published by the Express Group and Penguin.
Amidst a disastrous global downturn, Mukesh Ambani said, India’s balancesheet is strong, consumer numbers are growing and the consumer is debt-free. “Therefore Indian economy should have a 9% default growth rate but our potential really is a high double-digit growth,” he said.
“What we have seen so far is the announcement that the old world, as we knew it, has come to an end. The world as a whole will restructure itself. I personally believe that this is an opportunity to rebalance the world and within that India is at the doorstep of a new developmental model. And this will take time and we should not rush into things. India’s strengths in this new world are going to be its soft skills,” he said.

Source:http://www.financialexpress.com/news/Politics-of-change-gets-thought-leaders-together/572212/

Ratan Tata, chairman, Tata group; Mukesh Ambani, chairman and managing director, Reliance Industries Ltd; and Keshav Mahindra, chairman, Mahindra Group, are among the 15 international business leaders who have come together for the fifth annual appeal.

Many corporations have joined hands to fight the stigma faced by those affected by leprosy.
A World Health Organisation Goodwill Ambassador for Leprosy Elimination Yohei Sasakawa launched the global appeal on Monday. He is also the Japanese Government Goodwill Ambassador for the Human Rights of People affected by Leprosy.

Source:http://www.dnaindia.com/mumbai/report_corporations-raise-leprosy-awareness_1340052

The Allahabad Manufacturing division of RIL had received five star certification from British Safety Council on health and safety standards. The audit was conducted between November 19-21, 2009. The health and safety documentation and systems were reviewed, followed by an on-site inspection to verify the effectiveness of implementation of standards down the line.

Source:http://reliance-news.blogspot.com/2010/01/rils-allahabad-division-received-five.html

The Nagpur Manufacturing Division of RIL bagged the prestigious five star ratings in safety and environment audits from British Safety Council. Audits were conducted at Nagpur Manufacturing Division from November 23-25, 2009 and December 1-2, 2009 for safety and environment respectively. Auditors checked the systems thoroughly and were impressed with the prevailing systems. They appreciated the team spirit and were pleased with the presentation the team made on various activities and safety systems at the plant.

Source:http://reliance-news.blogspot.com/2010/01/rils-nagpur-division-bagged-five-star.html

THE CII has formed a partnership to represent India at the forthcoming World Economic Forum’s (WEF) annual meeting, from January 25 to 29, in Davos, Switzerland.
The “India Everywhere” project, which is the largest ever Indian participation at WEF, would include the presence of senior representatives from the Government and business leaders from different sectors including the Finance Minister, Mr P. Chidambaram, the Commerce and Industry Minister, Mr Kamal Nath, the Deputy Chairman of Planning Commission, Mr Montek Singh Ahluwalia, and the Minister of Tourism, Ms Renuka Chowdhury, along with three Chief Ministers, Delhi’s Ms Sheila Dikshit, Rajasthan’s Ms Vasundara Raje, and Kerala’s Mr Oommen Chandy.
The Government team will be joined by prominent business leaders such as Mr Y.C. Deveshwar, Chairman, ITC and CII President, Mr Mukesh Ambani, Chairman & Managing Director, Reliance Industries and co-chair of the WEF Annual Meeting, and Mr Nandan Nilekani, CEO, President & Managing Director, Infosys Technologies.
The other corporate honchos include Mr Rahul Bajaj of Bajaj Auto, Mr Hari Bhartia of Jubilant Organosys, Mr Ramond Bickson of Taj Hotels, Mr Gunit Chadha of Deutsche Bank, Mr Tarun Das, CII’s Chief Mentor, Mr J.N. Godrej of Godrej & Boyce Manufacturing Co, Mr Naresh Goyal of Jet Airways, Mr Vijay Mallya of UB Group, Mr Sunil Bharti Mittal of Bharti Enterprises, Mr Lakshmi N. Mittal of Mittal Steel and Mr Malvinder Singh of Ranbaxy among others.
The annual event would witness 2000 global leaders congregating to shape global, regional and industry agenda to find solutions to global challenges. India sees the Davos meet as an opportunity to engage with world participants that comprise a cross-section of political, social and business leaders.
To focus on the country, the India Brand Equity Foundation and Ministry of Tourism are spearheading a communication campaign to showcase Brand India at Davos through special events and promotions. Mr Y.C. Deveshwar, said, “Every CEO needs to grasp the forces that are shaping the world. And the Davos meet is a quick way of engaging with the world community and all its diversities.”
Commenting on the marketing strategy of `India Everywhere’, Mr Nandan Nilekani stated, “Today, India’s appeal stretches from Wall Street to Broadway; from Capitol Hill to Cannes. Policymakers, economists, businessmen and journalists – all are univocal in their opinion – India is everywhere.” He added that the prevailing global environment and sentiment towards India presents a unique opportunity to secure disproportionate attention towards the country, from the global business and political communities, alike. “The time to leverage this opportunity is now,” he added.
Centred on the theme of `The Creative Imperative’, the five-day meet would touch on a diverse range of topics from hardcore business issues such as global economy, setting the business agenda, technology to softer issues such as culture, religion and leadership vision.
Mr Mukesh Ambani, said, “For India, poised to seize global opportunities in the knowledge age, Davos represents a reverberating vista to mirror its strengths and aspirations.”

Source:http://www.thehindubusinessline.com/bline/2006/01/23/stories/2006012301200600.htm

Reliance Industries Chairman and Managing Director, Mukesh Ambani has said the recent controversy over making knowledge of Marathi mandatory for issuing taxi permits in Mumbai was unfortunate and said the metropolis belongs to all of India.

“We are all Indians first. Mumbai, Chennai and Delhi belong to all Indians. That is the reality,” he said on Tuesday during a panel discussion at the London School of Economics organised to release Rajya Sabha MP N K Singh’s book, ‘Not by Reason Alone: The Politics of Change’.

Mukesh Ambani’s remark, while India’s corporate world had moved away from ‘licence raj’ after economic liberalisation, Mumbai’s “poor taxiwala is still dealing with licence raj” was received with applause from the gathering.

Responding to a question on the taxi drivers controversy, Mukesh Ambani said the real challenge and opportunity was whether India was able to create 15 to 20 million new jobs every year.

The Maharashtra government has, however, rescinded its order on making knowledge of Marathi a pre-condition to awarding taxi permits a day after proposing it.

“Employment is the biggest challenge in the coming years. We are not moving fast enough,” Mukesh Ambani said.

Rajya Sabha MP N K Singh termed the controversy over renewing taxi licences in Mumbai as “misplaced populism”.

Mukesh Ambani noted that many Indian professionals abroad were returning because of the many opportunities for self- fulfillment in India.

He said the next 20 years would be full of opportunities for the returning Indian professionals that will have an impact on millions of people back home.

“India is blessed with connections in Europe and in the US that raise our status as a country. The achievements of our diaspora help India, but whatever had to be done in the West, has been done. Now is the time to come back; there are more opportunities in India,” he said.

After the event, Mukesh Ambani was mobbed by eager students, most of them Indians, as they vied to speak to him and take photographs with him. He cheerfully interacted with them and invited them to Mumbai.

Security personnel had to intervene to escort the Reliance Industries Chairman Mukesh Ambani to his car.

Source:http://timesofindia.indiatimes.com/city/mumbai/Mumbai-belongs-to-all-of-India-Mukesh-Ambani/articleshow/5504213.cms

India more than doubled its exports of petroleum products to the U.S. last year after Reliance Industries Ltd. owned by CMD Mukesh Ambani started a refinery for exporting, according to tanker data collected by Clarkson Research Services Ltd.
At least 610,000 metric tons of gasoline (about 5.19 million barrels) was shipped to the U.S. from India, using 10 Aframax tankers, Clarkson data showed. India exported 2 million barrels of fuel to the U.S. in 2008, according to the Department of Energy.
Reliance, India’s biggest non-state company, started an export-oriented 580,000-barrel-a-day refinery in December 2008. It’s next to an older plant that can process 660,000 barrels a day. Together, they make up the largest refining complex in the world, according to Reliance.
“Most of India’s exports are from Reliance, which set up the new export-oriented refinery to get tax breaks from the government,” said Seema Desai, a London-based analyst at Eurasia Group. “The government-owned refineries are for the domestic market.”
India’s state-owned refineries, such as Indian Oil Corp., receive government subsidies to sell gasoline in the domestic market below cost, unlike privately owned refiners.
Reliance Exports
About 57 percent of Reliance’s refined output is for exports, Alok Agarwal, Reliance’s chief financial officer, said in an e-mail.
“The decision on the mix between the two depends on where we get better profits and the capacity of the markets to absorb the output,” Agarwal said. “We are today dealing with all the major oil companies of the world to sell our output in Asia, Europe and the U.S.”
The Baltic Clean Tanker Index rose for a third session today, up 2 points to 900 on the London-based Baltic Exchange. Crude oil for March delivery gained 72 cents, or 1 percent, to settle at $75.26 a barrel on the New York Mercantile Exchange.
As a result of rising exports, Reliance became for the first time in 2009 one of the top 10 charterers of Aframax tankers to ship petroleum products, according to a report released by Poten & Partners, a shipbroker.
Hess Corp., the fifth-largest U.S. oil company, chartered a tanker to transport gasoline for Reliance in June, according to Millennium Chartering Pte., a ship brokerage based in Singapore. Hess hired at least five Aframax tankers last year to ship gasoline to the U.S. from India, the Clarkson data showed. Aframaxes can carry 830,000 barrels.
Reliance Exports Rise
Reliance’s exports of refined products increased to 23.6 million metric tons in the nine months ended December, up from 16.2 million metric tons a year ago, the company said Jan. 22.
Domestic sales also increased, to 20.65 million metric tons from 8.01 million a year earlier, according to Bloomberg calculations based on export figures.
Indian exports rose as U.S. and European refineries process less oil because of lower profit margins. said James Williams, an economist at energy research firm WTRG Economics in Arkansas.
Plants in the U.S. ran at 78.4 percent of capacity in the week ended Jan. 15, the lowest level since September 2008, according to the DOE.
Source:http://www.businessweek.com/news/2010-01-25/india-fuel-exports-to-u-s-doubled-in-2009-clarkson-data-show.html

Nine Indian corporate honchos, including Ratan Tata and Mukesh Ambani, have been named among the 50 emerging market business leaders in a list compiled by the British financial daily the Financial Times. The paper has named the top 50 emerging business leaders for their role in shaping the strong economic performance of their respective regions.
The nine Indian business leaders who have made it into the list include the Tata Group chairman Ratan Tata, Reliance Industries Chairman and Managing Director Mukesh Ambani, ADAG chairman Anil Ambani, ICICI Bank managing director and chief executive Chanda Kochhar, Mahindra group patriarch Keshub Mahindra, Bharti Airtel chairman Sunil Bharti Mittal, Videocon chairman Venugopal Dhoot, Hero Group founder Brijmohan Lall Munjal, and Future Group chairman Kishore Biyani.
“The BRIC countries (Brazil, Russia, India and China) and other emerging economies have powered ahead economically over the past decade, marking a distinct shift in global power… we present a selection of 50 emerging market business leaders who have shaped the economic performance of their respective regions,” the Financial Times stated in the report.
The list has only three women, including ICICI Bank’s Chanda Kochhar. Other two women on the list are Chinese—Soho Group chief Zhang Xin and Nine Dragons founder Zhang Yin.
The Financial Times report states that BRIC countries could together outstrip the world’s existing six biggest economies by 2039 and China may overtake the US by 2041.
About Ratan Tata, the report said, “as the chairman of India’s largest automaker, Tata has targeted the consumer-end of the automotive market since taking leadership of the group in 1991.”
About Mukesh Ambani, the daily states, “although the 52-year-old’s wealth comes from oil and petrochemicals, he has committed to invest $5 billion in a retail supermarket and consumer electronics store network that he hopes will become the Wal-Mart of India.”
The daily’s list includes business leaders from the emerging markets of the Middle East, Africa, Latin America and Eastern Europe. However, the paper said “all such lists are subjective and not exhaustive.”

Source:http://www.ft.com/cms/s/0/f3f3e7dc-06ad-11df-b426-00144feabdc0.html?nclick_check=1