The economic growth in the emerging countries such as India, China, Brazil and Russia is set to continue on a steady path whereas the developed nations will see a slower progress and Development (OECD) says.

"The latest composite leading indicators (CLIs) suggest that moderate economic expansion will continue in the developed countries and Brazil, Russia, China, and India (BRIC) will continue with their steady expansion," OECD said.

The OECD has compiled composite leading indicators (CLIs), which summarise information contained in a number of key short-term indicators, known to be linked to GDP, for member-countries since the 1980s.

It was designed to provide early signals of turning points (peaks and troughs) between expansions and developed countries of Europe, America and Asia Pacific, rose 0.5 point in May to 110.1 from a revised 109.6 in April.

For China, the CLI rose 3.3 points in May whereas CLI for India increased 1.6 points in April as data for May was not available in the the report. India's CLI rose to 154.8 points in April from 153.2 points in February this year.

The CLI for Russia rose by 1.4 points and for Brazil it increased by 2.4 points.

Meanwhile, for the United States CLI increased by 0.5 point in May and in the euro areas CLI increased by 0.1 point in May and in the UK the index went up by just to provide qualitative information on short term economic movements rather than quantitative measures emphasising on movements over time in up or down directions rather than levels.

Courtesy : Expressindia.com

Hotly chasing his elder brother Mukesh Ambani in the wealth race, Anil Ambani has entered the exclusive trillionaire club with personal riches of over Rs 100,000 crore in terms of his share holding in various group companies.

As per the closing prices on Friday at the Bombay Stock Exchange, the value of Anil Ambani share was worth Rs 100,334 crore while market capitalisation of his group soared to Rs 162,930 crore.

While the wealth of Mukesh Ambani was upwards of Rs 115,000 crore, the share of Anil Ambani group companies -- Reliance Communication and Reliance Capital touched an all time high of Rs 551 and Rs 1,149 respectively, resulting in the increase in wealth.

Market capitalisation of flagship Reliance Communication was placed at Rs 112,657 crore, of which promoters holding is 67 per cent giving Anil Ambani a wealth of Rs 74,354 crore.

Likewise, Reliance Communication market capitalization was Rs 28,219 crore of which Anil Ambani's share was 53 per cent at a value of about Rs 15,000 crore.

This along with the shares in Reliance Energy, Reliance Natural Resources Ltd and elder brother's Reliance Industries Ltd (Rs 2,856 cr) took the combined wealth of Anil Ambani to over Rs 100,000 crore.

KP Singh, Chairman of recently listed real estate giant DLF is close behind with the wealth of about Rs 85,000 crore in terms of market capitalisation of his share in the group company as per the closing at BSE on Friday.

Courtesy : Expressindia.com