Indian Cos Asked To Infuse In South Australia

Chennai: The economy of South Australia is in a major transformation, and its premier Mr Mike Rann asked Indian companies to infuse more in the region. Like India, South Australia''s economy is gaining pace with more than $45-billion worth projects underway or in the pipeline, with mining and defence leading the way. The Olympic Dam mine will be the world''s biggest uranium mine and the fourth biggest copper mine, he said at a meeting organised by the Southern India Chamber of Commerce and Industry. Reliance Industries has joined hands with a local company for oil and gas. It has also inked a uranium exploration farm-in and heads of joint venture agreement with Uranium Exploration Australia Ltd. Mr Rann is leading a 10-day trade mission to India promoting investment, education and migration. The delegation of more than 25 business, education and Government representatives visited New Delhi, Bangalore and Hyderabad, and will also be in Mumbai.

4 Indians In Forbes'' Top 10 Billionaires List; Buffett Is No १

Leading upto his name and fame in the world of stocks legendary investor Warren Buffett has overtaken software czar Bill Gates as well as Mexican Tycoon Carlos Slim Helu to become the world''s richest person, as per Forbes'' annual list of billionaires. These three are followed by NRI steel baron Lakshmi Mittal, Mukesh Ambani and Anil Ambani at fourth, fifth and sixth position. Another Indian businessman K P Singh has occupied the eighth position. In terms of wealth created in the last one year, Anil Ambani has come on top, followed by his elder brother Mukesh Ambani. Buffett has been ranked at the top with a net worth of 62 billion dollars, higher than Slim''s 60 billion dollars and Gates'' 58 billion dollars.

Forbes has put Mittal''s net worth at 45 billion dollars closely followed by Mukesh Ambani''s 43 billion dollars and Anil Ambani''s 42 billion dollars. Singh has a net worth of 30 billion dollars. The other Indians who have made it to the Forbes list include Ravi and Sashi Ruia and Azim Premji, who have occupied the 43rd and 30th spot with net worth of 15 billion dollars and 12.7 billion dollars respectively. Besides, the list also has Senapathy Gopalakrishnan, Rakesh Jhunjhunwala and Rahul Bajaj, each with a worth of one billion dolllar. Buffett, the 77-year-old chief of the Berkshire Hathaway holding company, saw his wealth jump from USD 52 billion last year to USD 62 billion, pushing Microsoft co-founder Gates into third position after 13 years at the top. Mexico''s telecom mogul Carlos Slim Helu grabbed second place with a tidy nest egg of USD 60 billion, up from USD 49 billion last year.

Buffett, who announced in 2006 he was giving the majority of his fortune to the Bill & Melinda Gates Foundation, saw his wealth spike mostly due to the rising value of his Berkshire Hathaway stock. In total, this year''s list sees 1,125 people around the world making the billionaire''s list, up from 946 last year.

India, Britain To Boost Trade Ties

The large presence of Indian diaspora in Britain and growing economic engagement strengthen the comprehensive strategic ties between India and Britain, said a joint statement issued by the two sides on Jan 21. The bilateral economic linkages are strengthening through increased trade and investment flows, said the statement issued after delegation-level talks between Prime Minister Manmohan Singh and his British counterpart Gordon Brown. The UK is the third largest cumulative investor in India. India has emerged as one of the largest investors in the UK, including several major acquisitions, reflecting the maturing nature of the bilateral economic partnership.

Brown, who was on a two-day visit in New Delhi with a large business delegation since Jan 20, said around $10 billion worth of projects were in the pipeline between Indian and British companies and hoped they would conclude soon. The two sides acknowledged the potential for greater collaboration in areas like IT, life sciences, nano-technology, advanced manufacturing, infrastructure, energy, healthcare, agriculture and higher education.