Celebrities flock to Indian business scions’ lavish wedding

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Former US Secretary of State Hillary Clinton poses with Isha Ambani (L) daughter of Mukesh Ambani, Chairman of Reliance Industries, and his wife Nita Ambani at Swadesh Bazaar, a curated showcase of traditional Indian crafts and art forms, in Udaipur, in the desert state of Rajasthan, India, December 9, 2018. (REUTERS)
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A view of the illuminated City Palace, one of the venues for the pre-wedding celebrations of Isha Ambani, daughter of the Chairman of Reliance Industries Mukesh Ambani, is seen in Udaipur, in the desert state of Rajasthan, India, December 9, 2018. (REUTERS)
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In this Sunday, Dec. 9, 2018 file photo, singer Beyonce arrives to perform at the wedding of Isha Ambani, the daughter of India's richest mogul, and Anand Piramal, the son of one of India's biggest industrialists, at the airport in Udaipur, India. (AP)
Updated 12 December 2018

Celebrities flock to Indian business scions’ lavish wedding

  • The extravagant wedding of Indian actress Priyanka Chopra and American singer Nick Jonas earlier this month — attended by Indian Prime Minister Narendra Modi — was straight out of a Bollywood film

NEW DELHI: In a season of big Indian weddings, the marriage of two business scions on Wednesday is set to be the biggest of them all.
Isha Ambani is the Ivy League-educated daughter of Mukesh Ambani, chairman and majority stakeholder in oil and gas giant Reliance Industries, whose net worth Forbes estimates at over $43 billion.
Her groom, Anand Piramal, is the son of Indian industrialist Ajay Piramal, whose namesake conglomerate is estimated to be worth over $10 billion.
At one of the couple’s pre-wedding events on Sunday, Beyonce performed for a star-studded gathering at a 16th-century palace in the Indian city of Udaipur. Guests included Hillary Clinton and a host of Bollywood A-listers.
The competitiveness of India’s wintertime wedding season is growing more extreme, exacerbating the pressure on regular Indians to go into debt to finance elaborate weddings, according to Archana Dalmia, a social activist in New Delhi.
“A farmer might commit suicide because he can’t save enough money to get his daughter married,” she said.
The extravagant wedding of Indian actress Priyanka Chopra and American singer Nick Jonas earlier this month — attended by Indian Prime Minister Narendra Modi — was straight out of a Bollywood film.
So-called dowry deaths — brides killed when their families fail to meet in-laws’ dowry demands — constitute a substantial share of all female homicides in India, a 2018 United Nations Office on Drugs and Crime report found.
While opulence has always been a feature of Indian weddings, families used to hand down bridal saris as heirlooms. No more, Dalmia said.
“This generation is very different. Priyanka Chopra will never be able to wear it again and she won’t be able to pass it down,” Dalmia said.


TWITTER POLL: More than three-quarters say no to failing Turkish lira

Updated 22 September 2020

TWITTER POLL: More than three-quarters say no to failing Turkish lira

  • Lira has lost half its value since 2017
  • Poll finds more than 80% would not invest in falling currency

DUBAI: The Turkish lira has plummeted 22 percent this year, but an Arab News Twitter poll found that most people still don’t have the confidence to invest in the tumbling currency.

About 18 percent of the 1,438 respondents said that a weak lira was worth investing in, while nearly 82 percent said the risk was too great.

Traders will buy currency when it is weak, but tend to only do so if there is confidence that it will eventually climb back up in value – thus making a profit.

The lira – already impacted by the coronavirus and President Recep Erdogan’s authoritarian style of leadership – has suffered increased problems as he printed more money to bolster spending, but instead his plan led to a further devaluation.

Turkey and Erdogan are facing widespread condemnation for their foreign policy, which has seen the country intrude into Greek-claimed waters and interference in Libya and Syria.

There is also growing concern of civil unrest inside the country.

On Monday the currency reached record lows, touching 7.6 against the US dollar – it has lost half its value since the end of 2017.