Snehal khanna Blog

Mukesh Ambani remains India's wealthiest with a net worth of $38 bn, Azim Premji distant second Even as the country is facing economic hiccups and the government facing criticisms from various quarters over its handling of the economy, the wealthiest people in India do not seem to be affected. In spite of businesses facing difficulties in the aftermath of the government’s demonetisation of high-value currency last November and its rollout of the goods and services tax (GST) regime in July this year, India’s 100 wealthiest tycoons have seen their combined net worth zooming to a whopping $479 billion, up 26 per cent from $374 billion in 2016. According to the Forbes’ annual list of India’s 100 richest tycoons, Reliance Industries Chairman Mukesh Ambani remains the country’s richest, with a net worth of $38 billion, Wipro Chairman Azim Premji is a distant second on the list with exactly half the wealth. His net worth stands at $19 billion. (read more) Also read this :  ...

It looks like IBM is betting on Vaswani to replicate the success he had with Dell LATEST NEWS :  Suresh Vaswani , who helped build Dell’s IT services arm and led the firm till its sale to Japanese NTT Data, is set to join IBM in August to drive the global technology delivery of the world’s largest computer services firm. Vaswani will replace Peter Lynt, general manager of delivery, solutions and transformation of global technology services, who is set to retire later this month, according to an internal note viewed by Business Standard. He will be based in the US, driving the delivery of services for clients globally. An IBM spokesperson could not comment till the time of going to press while Vaswani was not reachable. It looks like IBM is betting on Vaswani to replicate the success he had with Dell — by pushing higher-value services and offsetting the decline in traditional services. Vaswani had built the services business for Dell in India as its chairman, help...

Premji has no objection to a $30-mn special payment for Snapdeal employees, reports Tech in Asia Latest news : The family office of billionaire Azim Premji, one of the early investors in Snapdeal, has written to its board objecting to special payouts for the founders and two larger investors, Kalaari Capital and Nexus Venture Partners, as part of the buy-out deal with Flipkart . This puts a spanner in the works for India’s biggest e-commerce merger, reports Bloomberg citing anonymous sources familiar with the discussions. Snapdeal founders Kunal Bahl and Binny Bansal along with Kalaari and Nexus had negotiated hard on compensation because Snapdeal’s proposed sale at a valuation of $1 billion is a fraction of its peak valuation of $6.5 billion. Kalaari and Nexus are set to receive $60 million in addition to equity in Flipkart, while the founders get a combined handout of $30 million, under the terms of the deal. PremjiInvest is objecting to differential payments, as othe...