Latest news with #AnirudhaYerunkar
India.com
4 days ago
- Business
- India.com
Russia hits massive JACKPOT, bad news for Saudi Arabia, Dubai, Qatar, this discovery may cause a new…
Russia hits massive JACKPOT, bad news for Saudi Arabia, Dubai, Qatar, this discovery may cause a new… Russia's crude oil discovery may have revealed a hidden treasure but exploring it can devastate the planet. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Russia has reportedly found the world's largest crude oil reserve beneath the British Antarctic Territory, a region long protected under international treaty. It is estimated to be 511 billion barrels of crude oil, and is being described as an 'ocean of oil' buried under the icy continent. Russia's Oil Discovery The discovery was made by Rosgeo, a Russian state-owned geological research company, during a scientific survey in the Weddell Sea region. According to reports, the estimated oil reserves are larger than the total amount of oil ever extracted from Earth to date. Advertisement === Though Russia claims the survey was purely scientific in nature, experts suggest it could be a strategic move to exploit Antarctica's natural resources. What's Antarctic Treaty? The 1959 Antarctic Treaty prohibits all military and commercial activities in the region, especially resource extraction. So far, over 56 countries including Russia have signed the treaty, which has helped preserve Antarctica for peaceful and scientific use. Advertisement === However, this oil discovery has raised alarm bells. Media reports claim that when the world begins to face severe shortages of natural resources, countries might start competing for control over the Antarctic's energy reserves. The British Antarctic Territory is also claimed by Chile and Argentina, both of whom have now shown interest in the region after the discovery. This can hamper the spirit of international cooperation in Antarctica and add geopolitical tensions. Can This End Saudi Arabia's Oil Dominance? With a reserve of over 511 billion barrels, the Antarctic oil deposit if ever tapped can surpass Saudi Arabia's current oil resources and reshape global energy dominance. This has raised concern that nations may eventually ignore treaties and race to claim a piece of this massive resource. Experts fear that if the global community fails to uphold the Antarctic Treaty, the continent could become the next battleground for energy supremacy. While the discovery may give a potential boost to global energy security, it also increases risk to Earth's environmental stability.
India.com
28-05-2025
- Business
- India.com
Noel Tata's BIG step, this company to build one of world's largest… in Rs 144323875000 investment plan awards new contract to…
Noel Tata's BIG step, this company to build one of world's largest… in Rs 144323875000 investment plan awards new contract to… As part of its efforts to reduce carbon emissions, the company is transitioning from the blast furnace route to the low-emission electric arc furnace process. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Tata Steel UK has taken one more step to its green steel production plan by awarding a major contract to JASO Industrial Cranes, a global leader in process crane manufacturing. As part of its 1.25 billion pound investment in sustainable steelmaking at Port Talbot, UK, Tata Steel will receive seven high-capacity process girder cranes from JASO. These cranes will play a critical role in supporting the operations of the plant's Electric Arc Furnace (EAF) facility. Advertisement === When fully operational in 2028, Tata Steel's Electric Arc Furnace will be one of the largest in the world and reduce the site's carbon emissions by 90 per cent – equivalent to five million tonnes of CO2 a year. Key components of the contract with JASO Cranes include 500-tonne capacity cranes for handling liquid steel ladles, essential for the efficient operation of the new steelmaking facility, two 80-tonne scrap cranes to feed the Electric Arc Furnace via an integrated conveyor system, ensuring a steady supply of raw materials, and two 35-tonne cranes for electrode maintenance, supporting the ongoing operation of the plant's advanced equipment. Advertisement === Stuart Lloyd, Project Manager for the Cranes Project, said: 'We are excited to strengthen our longstanding partnership with JASO on this crucial part of our 1.25 billion pound transformation. 'Back in 2019, we worked with JASO to replace our 60-year-old North Charging Crane, which lifted hot metal ladles to charge the Steel Plant's converters with molten iron. We have built on the lessons learned from that project to help guide this exciting next phase of our green steelmaking journey,' Lloyd said. 'These seven new, high-capacity process cranes will play a pivotal role in connecting different parts of our cutting-edge Electric Arc Furnace facility, enabling low-emission steel production in South Wales for many years to come.' Raul Fernandez, Marketing and Sales Director at JASO Industrial Cranes said: 'We are extremely proud to continue delivering cutting-edge engineering solutions for high-profile projects like this one in Port Talbot'. 'This order marks both the largest and most impactful project in our company's history. It is truly a privilege to play a key role in the UK steel industry's transition to a stronger and more sustainable future.' India-based Tata Steel owns the UK's largest steelworks of 3 million tonnes per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. (With Inputs From PTI)
India.com
27-05-2025
- Business
- India.com
Gautam Adani stuns Turkey and Pakistan, earns Rs 146880088000 in single day, higher than two country's trade between whole…, his net worth is…
Gautam Adani stuns Turkey and Pakistan, earns Rs 146880088000 in single day, higher than two country's trade between whole…, his net worth is… Pakistan and Turkey are nowhere in comparison with India, in fact one single Indian businessman is also far ahead of them. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement During Operation Sindoor, Turkey supported Pakistan. After which boycott Turkey was trending on Indian social media. Since then relations between Turkey with India and Pakistan have been discussed. The two countries have set a bilateral trade target of $5 billion. In 2024, their trade was around $1.4 billion. However, if we compare Gautam Adani's net worth, it increased by $1.72 billion on Monday, reaching $82.3 billion, according to the Bloomberg Billionaires Index. Adani is now at 20th among the world's richest persons. This year, his wealth has grown by $3.64 billion. According to the Bloomberg Billionaire Index, Adani's net worth has now reached $82.3 billion. Advertisement === Indian industrialist Gautam Adani's net worth increased by $1.72 billion in a single day and it was higher than Turkey and Pakistan's trade in FY24 which was around $1.4 billion. Turkey and Pakistan's relations are strengthening further. Turkish President Erdogan congratulated Pakistan's Chief of Army Staff, Field Marshal Asim Munir, on his promotion. Pakistan's Prime Minister, Shehbaz Sharif, visited Turkey on Sunday and praised their support against India during his trip. Advertisement === Turkey and Pakistan are nowhere in comparison with India. India's economy has become the fourth-largest globally. According to the Bloomberg Billionaires Index, the wealth of Asia and India's richest individuals grew by $13 billion this year. On Monday, the latest list of the world's richest individuals was released. Among the top 20, the net worth of 13 individuals declined. The largest loss was suffered by Mark Zuckerberg, CEO of Meta Platforms, whose wealth decreased by $3.29 billion. But if compared with the richest individuals in India, Mukesh Ambani, saw the biggest gain as his net worth rose by $2.35 billion. Ambani is now ranked 17th globally with a wealth of $104 billion. World's Top 10 Richest People Elon Musk: $374 billion Jeff Bezos: $222 billion Mark Zuckerberg: $222 billion Larry Ellison: $181 billion Bill Gates: $173 billion Warren Buffett: $157 billion Steve Ballmer: $156 billion Larry Page: $153 billion Bernard Arnault: $152 billion Sergey Brin: $143 billion
India.com
30-04-2025
- Business
- India.com
Mukesh Ambani again joins $100 billion club, his net worth is now Rs…
Mukesh Ambani again joins $100 billion club, his net worth is now Rs… This has also lifted Mukesh Ambani's position up in world's richest businesspersons. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Mukesh Ambani (File) Shares of Reliance Industries, have been rising for the third consecutive day. This rise led to an increase in the net worth of Mukesh Ambani and took him back into the $100 billion club. According to Forbes' Real-Time Billionaires list, Mukesh Ambani's net worth has now reached $106.1 billion. Reliance Industries shares are growing after its quarterly results last Friday. After the announcement, Reliance's stock started rising and continued their gain till the date. Advertisement === Reliance Stock Performance Reliance Industries' stock has risen over 8% in the past three trading sessions. Year-to-date, the stock has climbed by 14.79%, with a 9.98% rise in just one month. As of Wednesday, at 2:40 PM IST, the stock was trading 0.57% higher at Rs 1,408.35, and the company's market capitalization also reached to Rs 19 lakh crore. Reliance's stock has a 52-week high of Rs 1,608.95 and a low of Rs 1,115.55 after its strong market performance. Advertisement === India's Richest Individuals Mukesh Ambani is not only the richest individual in India but also the wealthiest in Asia. After him Gautam Adani is in the list, whose net worth is at $61.8 billion. Other Indian billionaires are Shiv Nadar with $35.4 billion, Dilip Shanghvi with $28.8 billion and Cyrus Poonawalla: $26.1 billion.
India.com
28-04-2025
- Business
- India.com
Mukesh Ambani plans to launch Reliance Jio IPO? Here's what company's head of strategy says
Mukesh Ambani plans to launch Reliance Jio IPO? Here's what company's head of strategy says The customer base of Reliance Jio grew by 61 lakh to 48.82 crore on a quarterly basis. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Anticipation about Reliance Jio's initial public offering (IPO) is growing more, especially after the demerger of Jio Financial Services from Reliance Industries. Earlier this year, The Hindu Business Line had suggested that Reliance Jio's IPO can be the country's biggest-ever and stated that Ambani is said to be preparing to get Reliance Jio listed on stock exchanges to raise around Rs 35,000-40,000 crore. Reliance Jio was founded in 2016 and became India's largest telecom operator with a large subscriber base. It is also the second-largest single-country operator globally. After Jio's growing subscriber base the speculation about a IPO started growing. Advertisement === Reliance Jio Head Strategy On IPO During RIL's Q4 FY25 earnings call, Anshuman Thakur, Head of Strategy at Reliance Jio, was asked to comment on the IPO. In response, Thakur said, 'What comment? Someday we will come and tell you now we are going to launch an IPO process. Before that, there is no comment.' Thakur also stated that the company's current focus is on expanding its market share and 5G user base. 'Our priority at this point is market growth and traction in the 5G segment. An IPO is not currently on our minds,' he added. Advertisement === A valuation of $112 billion for Jio was also projected by global investment firm Jefferies in July 2024. Jio's Q4 Performance Reliance Industries released its Q4 results for the January-March 2025 period on Friday. Reliance Jio reported a 26% rise in net profit which has reached to Rs 7,022 crore compared to Rs 5,587 crore in the same period last year. Revenue for the quarter grew by 18% to Rs 33,986 crore from Rs 28,871 crore in Q4 FY24. There is no official confirmation on the IPO timeline but Jio's performance and market sentiments makes it a strong contender for IPO.
