Declare holiday for Hindu festivals; cut Muslim holidays: Yogi govt’s order to UP Madrasas

New Delhi, July 4: India on Friday reported its highest single-day spike of COVID-19 cases with 22,771 cases reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

With these new cases, India's coronavirus cases tally has gone up to 6,48,315, out of which there are 2,35,433 active cases in the country and 3,94,227 cases have been cured/discharged or migrated.

As many as 442 deaths due to COVID-19 have been reported in the last 24 hours taking the number of patients succumbing to the deadly virus across the country to 18,655.

As per the Union Health Ministry, Maharashtra -- the worst affected state due to COVID-19 -- has a total of 1,92,990 cases which is inclusive of 8,376 deaths. Meanwhile, Tamil Nadu, the second worst-affected state, has a total of 1,02,721 cases and 1,385 fatalities. Delhi's tally of coronavirus cases stands at 94,695 which is inclusive of 2923 deaths due to the virus.

The Centre said that the recovery rate has further improved to 60.80 per cent. The recoveries/deaths ratio is 95.48 per cent : 4.52 per cent.

The Indian Council of Medical Research, earlier on Saturday, said that the total number of samples tested up to July 3 is 95,40,132, out of which 2,42,383 samples were tested yesterday.

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

Islamabad, Jun 23: Seven more Pakistan cricketers, including Muhammad Hafeez and Wahab Riaz, selected for the tour of England have tested positive for COVID-19, taking the total to 10, the PCB revealed on Tuesday.

The seven who tested positive on Tuesday are Kashif Bhatti, Muhammad Hasnain, Fakhar Zaman, Muhammad Rizwan, Imran Khan, Hafeez and Riaz. Shadab Khan, Haider Ali and Haris Rauf had returned positive tests on Monday.

“It is not a great situation to be in and what it shows is these are 10 fit and young athletes...if it can happen to players it can happen to anyone,” Pakistan Cricket Board (PCB) CEO, Wasim Khan told a media conference.

He said a support staff member, masseur Malang Ali, had also tested positive for COVID-19.

Khan said that the players and officials would now assemble in Lahore and another round of tests would be carried out on June 25 and a revised squad would be announced the next day.

The squad has to leave on June 28 for the series scheduled to be held next month, he said.

“It is a matter of concern but we shouldn’t panic at this time as we have time on our hands,” Khan said.

He said the players and officials would be retested on reaching England.