Business

IOC improves rank in Fortune 500 list

NEW DELHI JULY 7. Indian Oil Corporation remains the only Indian firm in the Fortune 500 list of global majors and has improved its rank this year to 191 from 226 previously.

The State-run refiner with revenues of $22,506.2 million is ranked ahead of Malaysian Petronas (ranked 204), Korean LG International (205) and China Mobile Communications (230), the Fortune magazine announced today.

For the second year running, Wal-Mart, the Arkansas-based retailer, tops the Fortune Global 500.

General Motors (U.S.) is at No. 2, Exxon Mobile (U.S.) at No. 3, Royal Dutch/Shell Group (Nethernalnds/Britain) at No. 4, BP (Britain) at No. 5, Ford Motor (U.S.) at No. 6, DaimlerChrysler (Germany) at No. 7, Toyota Motors (Japan) at No. 8, General Electric (U.S.) at No. 9 and Mitsubishi at No. 10.

The complete list appears in the July 21 issue of Fortune, available on newsstands on July 14, the magazine said in a statement here. This year, 116 Asian companies were ranked in the Global 500, with Japan (88 companies), South Korea (13 companies) and China (11 companies) leading the region.

"Asian companies ranked in the Global 500 for the first time, include China Life Insurance (No. 290), Kookmin Bank (No. 330), Seiko Epson (No. 463) and Kawasaki Heavy Industries (No. 500)," the magazine said. — PTI

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