We’ll convert to Buddhism if RSS continues atrocities against Dalits: Mayawati

Mumbai, Jun 16: Saudi Arabia’s sovereign wealth fund, PIF, is all set to pick up a stake in Jio Platforms, which would complete 25% of Jio’s equity dilution to the investors, said a report by the Gulf News.

Jio Platforms is part of the Reliance Industries empire owned by Mukesh Ambani. The Public Investment Fund (PIF) will acquire 2.33% for an estimated $1.5 billion, the report said.

So far, Jio Platforms has raised investment from 10 different global investors in seven weeks, the latest being TPG Capital buying 0.93% equity for Rs 4,547 crore and private equity firm L Catterton picking up a 0.39% stake for Rs 1894.50 crore.

Jio Platforms has raised a total of Rs 1.04 lakh crore so far from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

With PIF coming on board, Jio Platforms would have diluted 25% of its equity. That's the maximum they intend to dilute to financial investors, which includes Mark Zukerberg's Facebook.

Any new investors coming on board in future will have to be "strategic investors, a tech giant, for instance," said a source who was part of the deal-making process, the report said.

In recent days, Jio Platforms, which will merge telecom, content streaming, gaming and ecommerce features into its app, has seen Abu Dhabi's Mubadala and ADIA pick up significant stakes amounting to $1.2 billion and $750 million, respectively.

Reliance Industries' owner, Ambani, Asia's richest man, has been on an investor acquisition spree, with the likes of Facebook and private equity majors such as KKR and Silver Lake Capital investing in Jio Platforms.

The contours of the deal with Saudi Arabia's PIF was finalised during Ramadan. "It was always Mukesh Ambani's wish to have a special relationship with Saudi Arabia and the UAE," said Anshuman Mishra, a London-based confidante and family friend of the Ambani family of longstanding, Gulf News quoted as saying.

He has also worked extensively with Gulf sovereign wealth funds over the years.

"Saudi Arabia's coming in to close the financial investor round in Jio is indicative of the special nature of the relationship. This is also indicative of the multi-billion-dollar partnership announced last year with Saudi Aramco.

"This is a major success for the present Indian government's foreign policy initiative in the gulf and symbolic of India's significance in the GCC," it said.

New Delhi, May 12: A total of 12 special evacuation flights from across the globe will bring home stranded Indians on the sixth day of 'Vande Bharat Mission' on Tuesday.

The special flights include Air India flight from Manila to Ahmedabad, London to Hyderabad, Newark-Mumbai-Ahmedabad, AI flight from Singapore to Delhi, AI flight from Dhaka to Srinagar, Dammam to Kochi, Kuala Lumpur to Mumbai, Manila to Delhi, Muscat to Chennai, Dubai to Kannur, Dubai to Mangalore and Singapore-Bengaluru-Kochi.

Amidst the coronavirus pandemic, India is conducting 'Vande Bharat' Mission -- its biggest ever repatriation exercise since independence -- to bring back stranded Indians from abroad, including from the US, the UAE and the UK.

On the fifth day of Vande Bharat Mission, as many as 1,667 Indian nationals were repatriated from different countries in eight special flights.

Washington, Jan 2: The number of people killed in large commercial airplane crashes fell by more than 50% in 2019 despite a high-profile Boeing 737 MAX crash in Ethiopia in March, a Dutch consulting firm said on Wednesday. Aviation consulting firm To70 said there were 86 accidents involving large commercial planes - including eight fatal incidents - resulting in 257 fatalities last year. In 2018, there were 160 accidents, including 13 fatal ones, resulting in 534 deaths, the firm said.

To70 said the fatal accident rate for large airplanes in commercial passenger air transport was just 0.18 fatal accident per million flights in 2019, or an average one fatal accident every 5.58 million flights, a significant improvement over 2018. The fatality numbers include passengers, air crew such as flight attendants and any people on the ground killed in a plane accident

Large passenger airplanes in the study are aircraft used by nearly all travelers on airlines worldwide but excludes small commuter airplanes in service, including the Cessna Caravan and some smaller turboprop airplanes, according to To70.

On Dec. 23, Boeing's board said it had fired Chief Executive Dennis Muilenburg after a pair of fatal crashes involving the 737 MAX forced it to announce it was halting output of its best-selling jetliner. The 737 MAX has been grounded since March after an October 2018 crash in Indonesia and the crash of a MAX in Ethiopia in March killed a total of 346 people.

To70 said the aviation industry spent significant effort in 2019 "focusing on so-called 'future threats' such as drones." But the MAX crashes "are a reminder that we need to retain our focus on the basics that make civil aviation so safe: well-designed and well-built aircraft flown by fully informed and well-trained crews."

The Aviation Safety Network said on Wednesday that, despite the MAX crash, 2019 "was one of the safest years ever for commercial aviation." The 157 people killed in March on Ethiopian Airlines Flight 302 accounted for more than half of all deaths last year worldwide in passenger airline crashes.

Over the last two decades, aviation deaths around the world have been falling dramatically even as travel has increased. As recently as 2005, there were 1,015 deaths aboard commercial passenger flights worldwide, the Aviation Safety Network said.

Last week, 12 people were killed when a Fokker 100 operated by Kazakh carrier Bek Air crashed near Almaty after takeoff. In May, a Russian Sukhoi Superjet 100 aircraft caught fire as it made an emergency landing at Moscow’s Sheremetyevo airport, killing 41 people.

The figures do not include accidents involving military flights, training flights, private flights, cargo operations and helicopters.