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— August 2021 —


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August 2, 2021

FORTUNE publishes the Annual Fortune Global 500 List with Walmart at the Top.


Fortune Global 500 2021  Ranking Features 143 Chinese Companies, 122 U.S. Companies,  and 53  Japanese Companies 

Walmart  Maintains Top Spot for 8th straight year


Fortune 500 Global 2021

Photo: The 2021 FORTUNE Global 500 Cover.


NEW YORK, August 2, 2021 — Today, FORTUNE announced the FORTUNE Global 500 for the 2020 fiscal year, ranking the world’s largest corporations by revenue. Walmart claimed the top spot for the  eighth  consecutive year and for the 16th time since 1995. Once again, mainland China (including Hong Kong) has the most companies (135) on the list —  up by 11  from the last year.  Adding Taiwan, the total for Greater China is 143.  The U.S. is up by one with 122, and Japan is steady with a total of 53. The companies on the 2021 list have their headquarters in 220 cities and 31 countries around the world.

FORTUNE Global 500 companies generated revenues totaling more than one-third of the world’s GDP. They generated $31.7 trillion in revenues (down 5%), $1.6 trillion in profits (down  20%). In addition, they employ 69.7 million people worldwide.

Apple (No. 6) netted $57 billion in profits and is the FORTUNE Global 500’s most profitable company in 2021, ending Saudi Aramco’s (No. 14) two-year reign.

Of the 2021 rankings, FORTUNE List Editor Scott DeCarlo says, “The radical changes the pandemic has wrought will have long-term implications for businesses worldwide. Using it as a catalyst, the Global 500 showed the world how to adapt, evolve, and reinvent themselves. The Global 500 is a picture of a world we’re rapidly leaving behind and also a guide to the new environment taking shape.”

THE FORTUNE GLOBAL 500 LIST 

TOP 100 COMPANIES

  1. Walmart (U.S.)  
  2. State Grid (China)
  3. Amazon.com (U.S.)
  4. China National Petroleum (China)  
  5. Sinopec (China) 
  6. Apple (U.S.)
  7. CVS Health (U.S.)
  8. UnitedHealth Group (U.S.) 
  9. Toyota Motor (Japan) 
  10. Volkswagen (Germany) 
  11. Berkshire Hathaway
  12. McKesson
  13. China State Construction Engineering
  14. Saudi Aramco
  15. Samsung Electronics
  16. Ping An Insurance
  17. AmerisourceBergen
  18. BP
  19. Royal Dutch Shell
  20. Industrial & Commercial Bank of China
  21. Alphabet
  22. Hon Hai Precision Industry
  23. Exxon Mobil
  24. Daimler
  25. China Construction Bank
  26. AT&T
  27. Costco Wholesale
  28. Cigna
  29. Agricultural Bank of China
  30. Cardinal Health
  31. Trafigura Group
  32. China Life Insurance
  33. Microsoft
  34. Glencore
  35. China Railway Engineering Group
  36. Walgreens Boots Alliance
  37. EXOR Group
  38. Allianz
  39. Bank of China
  40. Kroger
  41. Home Depot
  42. China Railway Construction
  43. JPMorgan Chase
  44. Huawei Investment & Holding
  45. Verizon Communications
  46. AXA
  47. Ford Motor
  48. Honda Motor
  49. General Motors
  50. Anthem
  51. Mitsubishi
  52. TotalEnergies
  53. Deutsche Telekom
  54. BMW Group
  55. Nippon Telegraph and Telephone
  56. China Mobile Communications
  57. Centene
  58. Japan Post Holdings
  59. JD.com
  60. SAIC Motor
  61. China Communications Construction
  62. Fannie Mae
  63. Alibaba Group Holding
  64. Comcast
  65. China Minmetals
  66. China FAW Group
  67. Hengli Group
  68. Amer International Group
  69. China Resources
  70. Shandong Energy Group
  71. Itochu
  72. China Baowu Steel Group
  73. Assicurazioni Generali
  74. China Post Group
  75. Chevron
  76. Dell Technologies
  77. Bank of America
  78. Target
  79. Nestlé
  80. Lowe’s
  81. Marathon Petroleum
  82. Citigroup
  83. Hyundai Motor
  84. Gazprom
  85. Dongfeng Motor
  86. Facebook
  87. Royal Ahold Delhaize
  88. Sony
  89. United Parcel Service
  90. People’s Insurance Co. of China
  91. China Southern Power Grid
  92. China National Offshore Oil
  93. Crédit Agricole
  94. Johnson & Johnson
  95. Hitachi
  96. Carrefour
  97. BNP Paribas
  98. Bosch Group
  99. Tesco
  100. AEON

In his foreword to the Aug./Sept. 2021 issue, FORTUNE Acting Editor-in-Chief Brian O’Keefe writes: “Our annual ranking of the world’s largest companies by revenue remains the ultimate scorecard for business success. Despite the pandemic’s impact, the companies on the list generated $31.7 trillion in revenue last year, equivalent to one-third of global GDP. But the COVID-19 crisis also proved to be a time of transformative change for the world’s biggest corporations, with 45 new companies joining the list.”

Total revenues rank companies for their respective fiscal years ended on or before March 31, 2021.  All companies on the list must publish financial data and report parts or figures to a government agency.

Source: FORTUNE Media

|GlobalGiants.Com|


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Edited & Posted by the Editor | 9:50 AM | View the original post





August 1, 2021

India launches the Academic Bank of Credit to provide Multiple Entry and Exit Options for Students in Higher Education.


— UPDATED: AUGUST 01, 2021 —


UGC, India


UGC-Building-001.jpg

Photo: University Grants Commission, New Delhi. Image Credit: UGC.


GlobalGiants.Com Special Report

New Delhi, July 30, 2021 — The Prime Minister of India, Narendra Modi, has launched the Academic Bank of Credit to provide multiple entry and exit options for students in Higher education.

The country’s University Grants Commission (UGC) followed it with the notification of the University Grants Commission (Establishment and Operation of Academic Bank of Credits in Higher Education) Regulations, 2021. These regulations came into force on July 28, 2021, the date of their notification in the Gazette of India.

According to the notification:

These Regulations shall apply to all Universities in India established or incorporated by or under a Central Act, a Provincial Act, or a State Act; the institutions Deemed-to-be Universities declared as such under Section 3 of the University Grants Commission Act, 1956 (3 of 1956); and the Autonomous Colleges as defined in these regulations.

“Academic Bank Account” means an individual account with the Academic Bank of Credits opened and operated by a student. All academic credits earned by the student from a course of study are deposited, recognized, maintained, accumulated, transferred, validated, or redeemed to the account for awarding a degree/diploma/certificate by an awarding institution.

“Academic Bank of Credits” means an academic service mechanism as a digital or virtual or online entity established by the Commission with the approval of the Central Government to facilitate students to become academic account holders. It will pave the way for seamless student mobility between or within degree-granting Higher Educational Institutions through a formal system of credit recognition, credit accumulation, credit transfers, and credit redemption to promote distributed and flexible teaching-learning.

“Academic Flexibility” means the provision for innovative and interchangeable curricular structures to enable creative combinations of Courses or Programmes in Disciplines of study leading to a Degree or Diploma or Post Graduate Diploma or Certificate of Study offering multiple entry and multiple exit facilities while removing rigid curricular boundaries and creating new possibilities of life-long learning.

UGC has explained that the Academic Bank of Credits (ABC) is based on the principle of Distributed & Flexible Teaching-Leaming that allows students to leam as per their convenience, drop education mid-way, and pick it up again per their choice and convenience.

ABC will digitally store the academic credits earned by students from HEls registered with it for awarding degrees/diplomas/certificates taking into account the credits earned by the students. In addition, ABC will ensure the opening, closure, and validation of Academic Bank Accounts, credit verification, credit accumulation, and credit transfer or redemption for students.

Higher Education Institutions (HEI’s) that meet the eligibility requirements can register with the Academic Bank of Credits on the ABC website. Furthermore, students can also register by visiting the ABC website. A comprehensive User Manual for both HEIs and Students with step-by-step instructions and screenshots is available on the ABC portal’s Resources section under the General Resources category.

UGC has asked all eligible HEIs to take appropriate steps for joining the ABC Platform at the earliest. Further, it has advised them to make their respective University/Institution’s students aware of the ABC facility and encourage them to open Academic Bank Account.

Source: University Grants Commission (UGC), New Delhi.

|GlobalGiants.Com|


UGC, India

• University Grants Commission (Establishment and Operation of Academic Bank of Credits in Higher Education) Regulations, 2021 •

— FURTHER EXPLANATION —

• “Registered Higher Education Institution” means an eligible Higher Educational Institution registered by the Academic Bank of Credits.

• Eligibility Criteria for approval of HEIs to register with Academic Bank of Credits:

The Registered Higher Education Institution shall have the appropriate educational infrastructure in audio-visual facilities, e-resources, virtual classrooms, and studios. It should have specifically high bandwidth internet connectivity to support ODL or Online courses or programs. Further, it should be equipped with other infrastructural facilities for face-to-face theory or practical or training courses as specified, from time to time, under the relevant University Grants Commission Regulations and Higher Education Statutes or Ordinances.

A Registered Higher Education Institution shall have a webpage on its website containing:


• Monitoring, Support, and Quality Assurance:


• Consequences of Violation:


• Interpretation:

The Commission shall decide any question as to the interpretation of these Regulations, and its decision shall be final and binding in the matter.

Source: University Grants Commission (UGC), New Delhi.

|GlobalGiants.Com|


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Edited & Posted by the Editor | 4:09 AM | View the original post






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