Ranked

Ranked: Mukesh Ambani, CEO of Reliance Industries, as the third richest CEO by Forbes magazine, in a list of 10 wealthiest CEOs.

Announced: The world’s largest retailer Wal-Mart will go without its globally recognised brand name for business in India. Bharti Wal-Mart Pvt. Ltd., the 50:50 venture, will name its upcoming chain of cash-and-carry stores BestPrice Modern Wholesale.

Closed: Four city offices in Chennai, Bangalore, Kolkata and Hyderabad—by German air carrier Lufthansa, which also sacked 17 Indian employees as part of restructuring of its network in India. The Group, which operates 22 flights a week from these four metros, said it would continue to serve these cities through its direct sales team.