NEW YORK: They have lost more than USD 13 billion from their combined wealth, but still the two Ambani brothers have moved higher on Forbes' latest
list of the world's ten richest CEOs, while Sunil Mittal has joined the league and Lakshmi Mittal has slipped two places. Legendary American investor Warren Buffett has retained his top position on the annual list, but Indian-born steel tycoon Lakshmi Mittal has been toppled from his last year's second position by software major Oracle chief Larry Ellison. Mittal has moved down to fourth position, while Mukesh Ambani, the elder of the two warring brothers, has jumped three positions to grab third rank this year. The younger Ambani, Anil, has also moved up one place to sixth rank on this year's 'Forbes list of ten wealthiest CEOs'. While another Indian business chief, Azim Premji, has moved out of the top-ten list, compatriot Sunil Mittal of Bharti Airtel has joined the league at ninth position. IT major Wipro Chairman Premji was ranked ninth on the previous year's list. The total number of Indians on the list has remained unchanged at four on this year's list. "Being a CEO isn't what it used to be. Crackdowns on corporate frills like private jets and over-the-top offices have become the norm, taking some of the fun —but none of the stress —out of running billion-dollar businesses," Forbes said. "While some chief executives' jobs may be in peril, these 10 have stuck it out long enough to partake in what's left of the global economy. These have made our annual list of the world's wealthiest CEOs," it added. About India's presence on the list, Forbes said there are four Indians on its list this year: "two industrialists, Mukesh Ambani and Lakshmi Mittal; and two telecom tycoons, Anil Ambani and Sunil Mittal." "(The) Ambani brothers owe their hefty fortunes, in part, to inheritance. Following their father's death in 2002, they took over his industrial empire ... and attempted to run it together. "The collaboration soon soured. After coming to blows over who ran the company, the two reached a bitter compromise, deciding that they and the company would best be served by spinning off and divvying up its various businesses. "Today Mukesh runs petrochemicals giant Reliance Industries Ltd, while Anil oversees an array of companies including Reliance Communications, a phone and Internet outfit with 60 million customers," it added. The magazine said that its list of the world's wealthiest CEOs was based on analysis of their financial stakes in firms controlled by them, as on January 23. Buffett has been ranked first with USD 35.9 billion worth of shareholding, it said, adding that "there are not many people who can lose USD 25 billion in four months and still top the list of the world's wealthiest CEOs." Oracle's Ellison has been ranked second with USD 19.7 billion, followed by Mukesh Ambani (USD 16.8 billion), Lakshmi Mittal (USD 13.2 billion), luxury goods major LVMH's Bernard Arnault (USD 12.2 billion), Anil Ambani (USD nine billion), Arabian bank Mashreq's Abdul Aziz Al Ghurair (USD seven billion), and Microsoft's Steve Ballmer (USD seven billion). Sunil Mittal (USD 6.9 billion) and Japanese fashion retail major Fast Retailing's Tadashi Yanai (USD six billion) follow. "We estimated ownership by sifting through each company's most recent financial filings and, where information was not readily available, talking to industry sources," Forbes said, adding that both CEOs and Managing Directors of public companies across the world were considered for the list. About Mukesh Ambani, the report said he made it to third position despite a 62 per cent plunge in the shares of his group's flagship firm RIL since January last year.
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Wednesday, February 4, 2009
Ignou approves associate degree programme
There is good news for those who dropped out of school but want to enter the regular university system. Indira Gandhi National Open University
(Ignou) will soon offer an associate degree programme, through community colleges, to help such students re-enter the university system. "The academic council of the university has approved the programme and within five months, the university will start offering associate degree programmes to those studying in community colleges," informed V N Rajasekharan Pillai, vice-chancellor, Ignou. "Community colleges are very successful internationally. Those who opt out from schools to pursue work or cannot continue school education for some reason can walk into these colleges. In fact, at least 80 big universities of the world have university community colleges. These colleges offer the associate degree as their highest degree, along with diplomas, after people enter a two-year training programme in a flexible mode. This associate degree helps them get lateral entry into the regular university system." Ignou now plans to start its own community colleges and provide recognition to some of the existing ones to offer the associate degree. In India, according to Pillai, the community colleges framework is not institutionalised. "This initiative will offer a formal framework to these colleges. There are over 100 community colleges spread across India. And most of them are run by charitable trusts, missionaries, etc. Ignou may offer the associate degree through these colleges after they get recognition, depending on infrastructure availability, faculty and programmes," said Pillai. The university will consider academic programmes such as associate
(Ignou) will soon offer an associate degree programme, through community colleges, to help such students re-enter the university system. "The academic council of the university has approved the programme and within five months, the university will start offering associate degree programmes to those studying in community colleges," informed V N Rajasekharan Pillai, vice-chancellor, Ignou. "Community colleges are very successful internationally. Those who opt out from schools to pursue work or cannot continue school education for some reason can walk into these colleges. In fact, at least 80 big universities of the world have university community colleges. These colleges offer the associate degree as their highest degree, along with diplomas, after people enter a two-year training programme in a flexible mode. This associate degree helps them get lateral entry into the regular university system." Ignou now plans to start its own community colleges and provide recognition to some of the existing ones to offer the associate degree. In India, according to Pillai, the community colleges framework is not institutionalised. "This initiative will offer a formal framework to these colleges. There are over 100 community colleges spread across India. And most of them are run by charitable trusts, missionaries, etc. Ignou may offer the associate degree through these colleges after they get recognition, depending on infrastructure availability, faculty and programmes," said Pillai. The university will consider academic programmes such as associate
Ignou approves associate degree programme
There is good news for those who dropped out of school but want to enter the regular university system. Indira Gandhi National Open University
(Ignou) will soon offer an associate degree programme, through community colleges, to help such students re-enter the university system. "The academic council of the university has approved the programme and within five months, the university will start offering associate degree programmes to those studying in community colleges," informed V N Rajasekharan Pillai, vice-chancellor, Ignou. "Community colleges are very successful internationally. Those who opt out from schools to pursue work or cannot continue school education for some reason can walk into these colleges. In fact, at least 80 big universities of the world have university community colleges. These colleges offer the associate degree as their highest degree, along with diplomas, after people enter a two-year training programme in a flexible mode. This associate degree helps them get lateral entry into the regular university system." Ignou now plans to start its own community colleges and provide recognition to some of the existing ones to offer the associate degree. In India, according to Pillai, the community colleges framework is not institutionalised. "This initiative will offer a formal framework to these colleges. There are over 100 community colleges spread across India. And most of them are run by charitable trusts, missionaries, etc. Ignou may offer the associate degree through these colleges after they get recognition, depending on infrastructure availability, faculty and programmes," said Pillai. The university will consider academic programmes such as associate
(Ignou) will soon offer an associate degree programme, through community colleges, to help such students re-enter the university system. "The academic council of the university has approved the programme and within five months, the university will start offering associate degree programmes to those studying in community colleges," informed V N Rajasekharan Pillai, vice-chancellor, Ignou. "Community colleges are very successful internationally. Those who opt out from schools to pursue work or cannot continue school education for some reason can walk into these colleges. In fact, at least 80 big universities of the world have university community colleges. These colleges offer the associate degree as their highest degree, along with diplomas, after people enter a two-year training programme in a flexible mode. This associate degree helps them get lateral entry into the regular university system." Ignou now plans to start its own community colleges and provide recognition to some of the existing ones to offer the associate degree. In India, according to Pillai, the community colleges framework is not institutionalised. "This initiative will offer a formal framework to these colleges. There are over 100 community colleges spread across India. And most of them are run by charitable trusts, missionaries, etc. Ignou may offer the associate degree through these colleges after they get recognition, depending on infrastructure availability, faculty and programmes," said Pillai. The university will consider academic programmes such as associate
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