Billionaire Mukesh Ambani has slipped three positions in the Forbes Real-Time Billionaires list after Reliance Industries Limited (RIL) suffered heavy losses in the stock market.
The biggest loss emerged from Reliance’s oil refining business which has suffered due to a plunge in demand for transportation fuels. RIL stock slumped over 8.5 percent on the stock market.
The sharp decline resulted in RIL losing over Rs. 1 lakh crore in market capitalisation, following which Mukesh Ambani’s net worth on the Forbes Real-Time Billionaires list fell by nearly $7 billion. Ambani has now dropped to ninth position on the list with a net worth of $71.3 billion.
Market experts predict a short-term correction in the RIL stock, mostly due to the impact of the pandemic on sales. However, most brokerage firms remain optimistic about RIL’s long term growth as the company expands its footprint in the country’s lucrative retail space.
Chennai Super Kings' Australian opener Shane Watson announced his retirement from franchise cricket after CSK won their last match against Kings XI.
The Aussie opener had already retired from international cricket when CSK bought him in 2018 from the auctions. He played a big role with his century in the 2018 final that helped CSK win the title for the third time.
Before CSK, Watson had also turned out for Rajasthan Royals and Royal Challengers Bangalore (RCB) and had played a huge role in winning RR the first title in 2008.
The 39-year-old Aussie, who has played 59 Tests, 190 ODIs, and 58 T20s at the international level, has played a total of 145 IPL games, of which 43 matches were for CSK.
According to the scenarios in the WWF Water Risk Filter report, 100 cities are expected to suffer the greatest rise in water risk by 2050 and are home to at least 350 million people as well as nationally and globally important economies.
Jaipur topped the list of Indian cities, followed by Indore and Thane. Mumbai, Kolkata, and Delhi also featured on the list.
The global list includes cities such as Beijing, Jakarta, Johannesburg, Istanbul, Hong Kong, Mecca, and Rio de Janeiro. China accounts for almost half the cities.
For cities to break away from the current vicious loop of flooding and water scarcity, nature-based solutions like restoration of urban watersheds and wetlands could offer solutions.