Mumbai-based Lodha Developers has become the new owners of Macdonald House in central London after the company bought the prime property for $530 million.

Bloomberg has released the “Bloomberg Billionaires Index,” the first daily global ranking of the richest people in the world as part of their coverage of wealth. The index, changes daily depending on stock fluctuations and economic/company news dynamically measured on changing markets and will be updated every business day at 5:30 p.m. Bloomberg Professional service customers can access each billionaire’s profile […]

India’s luxury sales are expected to expand by a scorching 20 percent annually until 2015, as brand-smitten consumers snap up big names to flaunt their wealth. Luxury sales were slow to take off in India a decade ago, disappointing retailers who had rushed into what they hoped would be the next China — a vast […]

In booming India, being rich is not enough. For the moneyed classes, it’s increasingly about flaunting their wealth in ways typical of the nouveaux riches in Russia, China or the Middle East. India’s well-heeled used to be more shy about displaying their wealth in the decades after independence from Britain when a tightly-controlled economy and […]

Carlos Slim Helu remained the world’s richest person, but Asia is where today’s big money is flowing, Forbes magazine said in its 2011 list of the world’s billionaires. Slim, who is almost unknown to the general public outside Mexico, weighed in at a staggering $74 billion of net wealth thanks to his telecoms empire. Already […]

The growing list of billionaires in India is an enticing prospect for executive jet makers seeking to recover from a slump in demand caused by the financial crisis. Prominent among exhibitors at the ongoing Aero India 2011 air show in Bangalore were manufacturers such as US-based Gulfstream and Brazil’s Embraer — both hoping to seduce […]