Efforts made to undermine Kerala govt's achievements in COVID-19 battle: Pinarayi Vijayan

New Delhi, Apr 28: Nafisa Ali took to Instagram to share the inspiring story of her niece, Diya Naidu, who donated her plasma to help patients suffering from Covid-19 after recovering from the disease. The veteran actress shared a photo of her niece from the hospital bed and asked fans to read Diya's post to get a detailed account of her experience.

Nafisa wrote, "Diya Naidu my niece - a COVID19 hero - is back home after donating her plasma - looks like liquid gold - it’s value is priceless as it will save lives. So please read her COVID19 story and share the information that is first hand. It is the need of the hour. Help save lives. #diyanise. #diyanaidu #covid_19 #india (sic)."

Diya Naidu, who is a dancer and choreographer based in Bengaluru, revealed in her Instagram post that she has donated her plasma for other Covid-19 patients. She said that the method has been super effective wherever it's been tried.

Earlier, Nafisa Ali gave a shout-out to her niece on Instagram and penned a heartfelt note for her. She wrote, "I am so grateful to you brave child - a COVID19 warrior (living in Bangalore) has agreed to donate her plasma to help cure other COVID19 serious patients (sic)."

Explaining the process of plasma therapy to treat Covid-19 patients, she wrote, "The process of donating plasma to treat COVID-19 is not very complex and can be done in just two hours. One of the most discussed methods of treatment of the disease caused by the novel coronavirus is plasma therapy, which involves the transfusion of plasma from a convalescent coronavirus patient to a critical patient. The blood of a recovering patient is rich in antibodies produced by the body to fight the virus, which are expected to help the critical patient recover (sic)."

Plasma therapy has been suggested to treat people suffering from Covid-19. People, who have recovered from the disease, are donating plasma as it contains antibodies to fight the disease. Earlier, Kanika Kapoor, who was the first Bollywood celebrity to be diagnosed with the disease, also offered to donate her plasma. She has recovered from Covid-19 and is currently living with her family in Lucknow.

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”