The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs. The 23 percent increase on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, compares with an almost 20 percent increase for both the MSCI World Index and Standard & Poor’s 500 Index.

In a bid to boost the 5G technology in the country, the Department of Telecommunications (DoT) has framed a plan to set up a test-bed. This will be anchored by the Indian Institute of Technology, Madras, as per a report by The Indian Express. DoT has also sought an amount of Rs 35 crore, for the same, in the second batch of supplementary demands for grants for 2017-18. A DoT official confirmed that the test-bed is expected to be operational within the next six months.

The Securities and Exchange Board of India (Sebi) will consider a raft of proposals to ease various compliance procedures for listed insolvent companies—especially with regard to trading, listing and de-listing norms, and declaration of financial results—at its board meeting on Thursday, official sources told FE. The proposals include relaxing the requirement of a minimum 25% public shareholding and the stringent procedures to de-list a stressed company, if that is part of the resolution plan.

Employee unions of public sector banks have deferred their Wednesday's strike, various state-run lenders said today.

The All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA) had threatened to go on strike on December 27 in support of their demand for early wage revision.

GST collections slipped for second straight month to Rs 80,808 crore in November, down from over Rs 83,000 crore in the previous month.The total collection of GST till December 25 stood at Rs 80,808 crore for November and 53.06 lakh returns have been filed for the month, a finance ministry statement said. Of the Rs 80,808 crore collected, Rs 7,798 crore has been garnered as compensation cess in November - the fifth month of GST roll out.

Realty major DLF on Wednesday announced that its promoters have concluded the sale of 33.34 per cent stake in its rental arm to sovereign wealth fund GIC for nearly Rs 9,000 crore.

In late August, the promoters had sold the entire 40 per cent stake in rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs 11,900 crore and proposed to invest proceeds into DLF.

Anil Ambani-owned Reliance Communications (RCom) said on Tuesday it had exited the strategic debt restructuring (SDR) scheme of lenders by agreeing to sell its telecom towers, real estate and other assets, and getting a strategic investor in the “new RCom”, which would help reduce its debt by Rs 39,000 crore.

The company expected to conclude all the transactions by March next year and banks would not have to take any haircut, said Anil Ambani, chairman of RCom.

India’s biggest oil explorer plans to snatch up producing assets to reach its goal of raising overseas output by more than half in about three years, a faster route than drilling for new reserves. ONGC Videsh Ltd., the overseas investment unit of state-run Oil & Natural Gas Corp., spent $2.2 billion last year on an existing Russian project, which raised production by 4 million tons, or 44 percent. The company still needs to add more than 7 million tons to achieve its target of 20 million tons by 2020.

India’s oldest communication service provider and the fifth-largest internet service provider in India by total subscribers, BSNL in partnership with DETEL Mobiles and Accessories, the world’s most economical Feature Phone brand have announced their partnership to provide customers feature phones bundled with affordable plans. Through this partnership, BSNL has signed an agreement with S.G Corporate Mobility.

Mahindra Group chairman Anand Mahindra has picked a 16.7 per cent equity in Bayside Sports, a city-based multi-sports academy and sports event provider. The company said Mahindra made the investment in his personal capacity through his family office. Bayside Sports was founded by childhood friends Vishal Gokani and Kyan Bharucha in January 2013 with the objective of helping people and families bond over sports with just three students at a single location in south Mumbai.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.