• India is home to 2.63 lakh millionaires: Report
    Published Date : 20-Jun-2018 12:38:50IST

    Indians with investable assets of over $1 million grew 20.4% to 2.63 lakh in 2017, according to a report by Capgemini. The collective wealth of these high net worth individuals (HNWIs) grew 21% to over $1 trillion, making India the fastest-growing market globally. India was the 11th largest HNWI market in the world in 2017, the report added.

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  • TCS to buy back shares worth Rs 16,000 cr
    Published Date : 15-Jun-2018 4:07:38IST

    The Board of Indian IT major Tata Consulting Services (TCS) on Friday approved to buy back 7,61,90,476 equity shares of Re 1 face value at Rs 2,100 per share for about Rs 16,000 crore. “The buyback size is 1.99 per cent of the total paid-up equity share capital,” the city-based IT major said in a regulatory filing on the BSE.

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  • Ferrari sold for ₹469 cr becomes world’s most expensive car
    Published Date : 06-Jun-2018 7:58:31IST

    A 1963 Ferrari 250 GTO sold for $70 million (₹469 crore) has become the most expensive car ever sold at an auction. The car was reportedly bought by David MacNeil, the CEO of car floor mats making company WeatherTech. It won the 1964 famed Tour de France race and came in fourth at Le Mans.

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  • Virat Makes It To Forbes List
    Published Date : 06-Jun-2018 12:10:50IST

    Forbes has published its annual list of Top 100 money makers. Indian skipper Virat Kohli has once again made it to the list this year, as a part of the highest earning sportsmen in the world. With earnings of $24 million, he has made it to the 84th slot in the list. While he earns $4 million from cricket, he makes the additional $80 million from advertisements. Last year, he stood at 89th position with annual earnings of $22 million.

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  • BigBasket in talks to raise $500 million: Reports
    Published Date : 08-May-2018 3:39:43IST

    Bengaluru-based online grocer BigBasket is in talks to raise between $300 and $500 million from China’s Alibaba and new investors, as per reports. In February this year, the startup raised $300 million in a round led by Alibaba, valuing it at $950 million. Founded in 2011, BigBasket is backed by investors including Abraaj Group and Bessemer Venture Partners.

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  • World’s costliest number plate put on sale for ₹132 cr
    Published Date : 09-Apr-2018 10:27:20IST

    The world’s most expensive number plate has been listed for £14.4 million (₹132 crore) by UK-based businessman Afzal Kahn, the owner of Kahn Design. The ‘F1’ license plate is priced over 10 times the Bugatti Veyron car it is currently linked to. The plate has been owned by Kahn since 2008 when he reportedly purchased it for £440,000 (₹4 crore).

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  • Amazon now world’s third-most valuable company
    Published Date : 15-Feb-2018 10:53:22IST

    With a market cap of $702.5 billion, Amazon has become the third most valuable company in the world, racing past Microsoft, which has a market cap of $699.2 billion. According to a report in The New York Post, Amazon stock surged 2.6 per cent on Wednesday, taking the company’s market cap ahead of Microsoft for the first time. Apple tops the list with $849.2 billion market cap, followed by Google’s parent company Alphabet at $745.1 billion.

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  • Auto co to change car name ‘Trumpchi’ for US market
    Published Date : 18-Jan-2018 7:08:52IST

    Chinese auto maker GAC is changing the name of models it plans to introduce in the US market next year, because “Trumpchi” sounds too much like its linked to President Trump. “The name will change for the US market to avoid the wrong connotation,” a GAC spokesman said. The Trumpchi models have been available in China for years, and the word actually means “legend” in Chinese, the spokesman said.

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  • Only 1.7% Indians paid income tax in 2015-16
    Published Date : 25-Dec-2017 9:18:24IST

    As per data released by the Income Tax department, just over 2 crore Indians, or 1.7% of the total population, paid income tax in the assessment year 2015-16. Around 4 crore people filed returns, with only 2.06 crore actually paying tax. The total income tax paid declined to ₹1.88 lakh crore in 2015-16, from ₹1.91 lakh crore in 2014-15.

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  • Big B’s ₹1.6cr investment in blockchain firm grows to ₹112cr
    Published Date : 20-Dec-2017 7:48:03IST

    The value of an investment by Amitabh and Abhishek Bachchan in a Singapore blockchain firm offering microfinance through cryptocurrencies has grown 70 times from $250,000 (₹1.6cr) to $17.5 mn (₹112cr) in 2.5 years. In 2015, the Bachchans had invested in Meridian Tech, whose asset Ziddu.com was acquired by Nasdaq-listed LongFin Corp last week. Following the acquisition, LongFin’s stock rose 1,200%.

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  • ₹5,000 crore spent on printing new ₹500 notes
    Published Date : 18-Dec-2017 10:53:34IST

    Union Minister Pon Radhakrishnan on Monday informed the Lok Sabha that about ₹5,000 crore was spent on the printing of nearly 1,700 crore pieces of new ₹500 notes post demonetisation. He also said that nearly ₹1,300 crore was spent on the printing of new ₹2,000 notes. Similarly, over ₹520 crore has been spent on the printing of ₹200 notes.

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  • Richest 10% earned 55% of total income in India
    Published Date : 14-Dec-2017 9:25:41IST

    The share of national income captured by India’s top 10% of earners was 55% in 2016, according to the World Inequality Report. It added that the level of income inequality in India in 2016 matched that in sub-Saharan Africa and Brazil. The income inequality was the highest in the Middle East, where the top 10% capture 61% of national income.

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  • Ex-supermarket worker named world’s richest YouTuber
    Published Date : 09-Dec-2017 9:53:04IST

    The Forbes Magazine has named former Tesco supermarket worker Dan Middleton as the world’s richest YouTuber after he made a fortune of $16.5 million this year. The 26-year-old shares videos of himself playing video games and describes gameplay and strategies on his YouTube channel, DanTDM. Middleton makes money from advertising on the videos and is classed as a professional YouTuber.

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  • Fake restaurant becomes London’s top-rated eatery
    Published Date : 09-Dec-2017 7:04:46IST

    A non-existent restaurant supposedly based in a garden shed briefly became London’s top eating place on travel and restaurant website TripAdvisor. Starting at 18,149, the worst restaurant in London, “The Shed at Dulwich” worked its way up the rankings thanks to fake reviews sent from different computers to avoid TripAdvisor’s defences. The restaurant was soon inundated with booking demands, PR offers and media requests, shooting its rating to the number one spot in London just six months after its initial listing.

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  • Facebook Co-founder Saverin becomes Singapore’s richest man
    Published Date : 08-Dec-2017 9:31:35IST

    Facebook Co-founder Eduardo Saverin has become Singapore’s richest person with a net worth of $10.4 billion. Saverin, who still holds a minority stake in Facebook, has replaced siblings Robert and Philip Ng, who have been Singapore’s richest since 2010 and have an estimated fortune of $10 billion. Saverin became a Singapore resident after giving up his US citizenship in 2012.

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