Facebook Inc. co-founder Mark Zuckerberg has overtaken Warren Buffett as the world’s third-richest person, further solidifying technology as the most robust creator of wealth.

Zuckerberg, who trails only Amazon.com Inc. founder Jeff Bezos and Microsoft Corp. co-founder Bill Gates, eclipsed Buffett Friday as Facebook shares climbed 2.4 percent, according to the Bloomberg Billionaires Index.

Increasing coal import by power plants to compensate for supply shortages by Coal India (CIL) would lead to a rise in electricity tariffs, analysts said.

Absorbing higher imported fuel costs by electricity distribution companies (discoms), instead of raising tariffs, would add to losses of such state-owned entities, a recent note from SBICAP Securities noted.

Ford India on Friday said that it is recalling 5,397 units of its popular SUV Ford EcoSport for faulty front lower control arm.

In a statement, Ford India said that it is voluntarily inspecting 4,379 EcoSport vehicles, made at the company’s Chennai plant between May 2017 and June 2017, for weld integrity of the front lower control arm.

Punjab National Bank (PNB) has put on sale three non-performing assets to recover Rs 136 crore dues from the borrowers.

"We intend to place these accounts for sale to ARCs/ NBFCs/other banks/FIs on the terms and conditions stipulated in the bank's policy, in line with the regulatory guidelines," PNB said in the invite for expression.

The Department of Telecommunications (DoT) will seek further clarification from the additional solicitor general (ASG) regarding the Vodafone-Idea merger.

On being asked by Communications Minister Manoj Sinha, the DoT had written to the ASG seeking his opinion on whether the merger should be given a go-ahead without claiming the charges regarding spectrum, which were sub-judice.

Korean carmaker Hyundai, the second-biggest player in the Indian market, will drive into a $100-million (Rs 6.9 billion) corporate office in Gurgaon. The two-acre office complex on the outskirts of Delhi is under construction and will be home to about eight hundred company executives from early 2020.

"It was a dream to have our own corporate office as we complete two decades here in India... We will shift to the new office in January 2020. It is our commitment to the Indian market and to our workforce here.

The CBI on Friday arrested two senior retired officers of Bank of India in connection with alleged loan fraud of Rs 26.54 billion by Vadodara-based Diamond Power Infrastructure Ltd. (DPIL) in the bank.

V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to the company in granting credit limits, the officials said.

US Secretary of State Mike Pompeo began a second day of talks in North Korea on Saturday attempting to agree details on how to dismantle the country's nuclear programme, and both sides said they had things to "clarify" from the previous day.

After spending his first night in the North Korean capital in three visits so far this year, Pompeo left the government guest house where he spent the night to make a secure phone call to US President Donald Trump to provide an update on the talks.

Alternative investment funds cannot convert their existing open-ended schemes to closed-ended and vice-versa, markets regulator Sebi said on Friday.

The clarifications have been given as part of an informal guidance sought by Singular India Opportunities Trust (SIOT), which is managed by Singular Capital India Advisors LLP, regarding certain aspects of AIF regulation.

Microsoft is reportedly working on launching its “Movies & TV” app – only available on Windows-based platforms like Windows 10 PC, Xbox and Windows 10 Mobile – on Android and iOS-based platforms. According to a report in Windows Central late on Thursday, “Microsoft is building these apps to give consumers more of a reason to buy content in the Microsoft Store”.

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