Economy
India’s Economic Growth Is Expected To Improve To 6.3% in 2016
The United Nations latest report titled ‘The UN World Economic Situation and Prospects 2015 (WESP)’ was released on 11 December. According to the report, India’s economic growth is expected to improve to 6.3 per cent in 2016 with the country leading economic recovery in South Asia.
ICICI Bank Launched India’s First Transparent Credit Card
Private sector lender ICICI Bank on 12 December launched India’s first credit card with a transparent design.The credit card named ICICI Bank Coral American Express Credit Card.
Alibaba’s Jack Ma Becomes Asia’s Richest Person
According to the Bloomberg Billionaires Index new list of the world’s billionaires released on 12 December, the founder of Chinese internet giant Alibaba, Jack Ma, is now the richest person in Asia. With an estimated wealth of 28.6 billion dollars, Ma overtook the Hong Kong property tycoon Li Ka-shing at 28.3 billion dollars.
IOC tops Fortune India 500 List
The global business magazine Fortune’s Indian edition released its annual list of Fortune 500 Indian companies for 2014 on 14 December. According to the list, State-run Indian Oil Corp (IOC) topped this list with an annual revenue of Rs 5,00,973 crore, while Mukesh Ambani-led Reliance Industries Ltd’s (RIL) full-year revenue is Rs 4,44,021 crore.
India Ranks 93rd In Forbes’ List Of Best Nations For Business
Business publication Forbes has ranked India 93rd on its list of Best Countries for Business for 2014, which was released on 19 December. Denmark tops the list, followed by Hong Kong. India ranked 122 on the trade freedom index, 135 in monetary freedom, 120 in technology, 122 in tax burden and 128 in red tape. It fared well on market performance index, ranking third, and 7th on investor protection. It ranked 78th on corruption and 55 on property rights.