Mukesh Ambani, the chairman of India’s Reliance Industries has emerged as the richest Indian with a net worth of $18.6 billion, according to the latest annual list of the world’s richest people by Forbes magazine.Ambani is followed by ArcelorMittal’s Lakhmi Mittal with a net worth of $16.7 billion. In global rankings, however, Ambani stands at 40th position, while Mittal ranks 52.The latest list includes a record of 1,645 billionaires with a total net worth of $6.4 trillion up from 1,426, according to a report by Reuters.Bill Gates has returned to the top on the list of the world’s richest people, with a net worth of $76 billion. The Microsoft Corporation co-founder reclaimed the top spot after four-years break, toppling Mexico’s telecommunications mogul Carlos Slim Helu, who has emerged as the second richest man on Earth this time, with $72 billion.Amancio Ortega, the Spanish founder of clothing conglomerate Inditex SA, which also includes the Zara fashion chain, came to the third place with $64 billion.On the fourth place is Warren Buffett, who runs Berkshire Hathaway Inc, and has close partnership with Gates. He had the net worth of $58.2 billion.Oracle Corp’s chief Larry Ellison managed to grab the fifth spot at $48 billion.From among the list of the billionaires, just over 10 percent were female, with 172 women compared with 138 a year earlier.The richest Woman on Earth is Walmart Stores Inc heiress Chrity Walton, and is in the ninth place, overall with $36.7 billion.Next among the woman billionaires’ is France’s Liliane Bettencourt, who earned much from her cosmetics company, L’Oreal SA. She has $34.5 billion and finds position 11 on the list.Google’s founders Larry Page and Sergey Brin are in 17th and 19th position with $32.3 billion and $31.8 billion respectively, while Amazon’s Jeff Bezos stood between them at $32 billion.Facebook founder Mark Zuckerberg, 29, managed to stand at 21st position with $28.5 billion.
The European Central Bank has decided against an increase in the pace of the asset purchase programme, Mario Draghi announced at a press conference on 3 December.Although the ECB will keep its asset purchasing programme at â‚¬60bn (Â£43bn, $65bn) a month, it has extended it by six months. The quantitative easing package will now run until at least March 2017. Let me make this clear. We are doing more, because it works, not because it fails, the ECB president told reporters.As expected, the deposit interest rate was decreased by the policy makers from -0.2% to -0.3%, while the main refinancing rate will remain unchanged at 0.05%. The monetary decisions are aimed at boosting the Eurozone economy and lifting the inflation rate.Mario Draghi has bought the Eurozone precious time by extending the ECBs â‚¬60 billion-a-month bond-buying programme until March 2017, Institute of Directors chief economist James Sproule commented. This is a stimulus package which the block clearly needs. On its own, however, money from the central bank will do little to address the Eurozones underlying rigidity which has led to its chronic growth problems.No expansion to QE. So much for the ECB going over and above expectations. Had a feeling he had set the bar too high. EURUSD rallying againâ€” Joshua Mahony (@JMahony_IG) December 3, 2015Oh dear! If QE not working now, extending wont help now.â€” Mike van Dulken (@Accendo_Mike) December 3, 2015ECB action – less than expected – good for UK exports 72 cents to the Â£ – 70 cents to Â£ this morningâ€” David Buik (@truemagic68) December 3, 2015 More to follow…. Close