The business wrap: Mukesh Ambani ranked world’s 33rd richest in Forbes list, and 6 other top stories
In other headlines: Paytm rolled out a wallet insurance scheme, and shares of D-Mart’s parent operator surged over 100%.
A look at the headlines in the sector right now:
- Mukesh Ambani is the 33rd richest person in the world, says Forbes magazine: India has the fourth-highest number of billionaires globally.
- Paytm’s new wallet insurance feature will protect your money from theft, unauthorised access: The service is available at no extra cost, and the money lost will be refunded to users’ accounts.
- D-Mart promoter’s shares open 102% higher than issue price: The firm plans on using the gains from the trade to clear its Rs 1,080-crore debt and invest in infrastructure.
- US may bar airline passengers from several countries from carrying large electronics on board: While some reports suggested the circular was against some West Asian countries, other said North African Nations were affected as well.
- Sand mining baron Sekar Reddy in ED’s custody after securing bail in CBI court: He was arrested in December 2016 after I-T raids found Rs 106 crore, of which Rs 10 crore was in new currency notes.
- YouTube apologises for blocking videos by LGBTQ members under parental-control feature: Some videos have been incorrectly labelled and that is not right, said the Google-owned video sharing platform.
- Stephen Hawking says he will travel to space on Richard Branson’s Virgin Galactic: On a British talk show, the physicist also said that he fears he might not be welcome in the US under the Donald Trump administration.