Google to invest ₹ 33,737 cr in Jio Platforms for 7.73 % stake

Agencies
July 15, 2020

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.

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News Network
April 11,2020

Thiruvananthapuram, Apr 11: The effective handling of Covid-19 pandemic by the Kerala Government has received a big endorsement in the International media with the latest being a report in Washington Post which suggests that the State’s success could prove instructive to the entire country.

The Washington Post quoted Kerala Health Minister K K Shailaja Teacher as saying “We hoped for the best but planned for the worst. Now, the curve has flattened, but we cannot predict what will happen next week.”

"The Minister said six states had reached out to Kerala for advice. She, however, noted that it might not be easy to replicate Kerala’s lessons elsewhere," according to the Minister's office quoting the report here on Saturday.

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News Network
July 22,2020

New Delhi, Jul 22: Congress leader Rahul Gandhi termed the BJP-led Uttar Pradesh government as 'goonda raj' (rule by hooligans), hours after Ghaziabad-based journalist Vikram Joshi succumbed to bullet injury he received from a group of men, who had allegedly harassed the scribe's niece.

"Journalist Vikram Jashi was killed after he protested against the harassment against his niece. My condolence to the family. They promised Ram Raj, but gave Goondaraj," Gandhi tweeted.

"Is it the same Ram Rajya that BJP promised after it came to power? This is complete 'Goondaraj'. Neither journalist, nor those who protect the law are safe in UP, so how can the common man expect justice," tweeted his party colleague Randeep Surjewala.

Expressing his shock over the incident, party leader and lawyer Abhishek Singhvi said, "Shocking jungle raj in #Ghaziabad area with journalist #Joshi, already known as the complainant in #FIR, being shot on a scooter while with his daughters, struggling in a coma with a bullet in the skull! Thank God daughters not hit. Shocking, scary, disgusting lack of fear of law & order! #UP."

Ajay Kumar Lallu, Congress president in the state added, "The Ghaziabad incident has shocked the entire state. It's a tragic incident. Nobody is safe in Uttar Pradesh. If it is not jungle raj then what is. The government remains silent while criminals are becoming more active. While leaving home in the morning, people in the state worry whether they will be able to return in the evening or not."

In the meantime, the Station in-charge has been suspended and a departmental inquiry has been ordered after the journalist's family accused the police of inaction. A total of nine accused have been taken into the custody, while efforts are on to nab another accused.

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News Network
August 8,2020

Kozhikode, Aug 8: A family of five, returning to their hometown at Koducalli in Kozhikode from Dubai, were aboard the fateful Air India Express flight that crash-landed at the Kozhikode airport claiming at least 18 lives on Friday.

Saifudheen, 40, is a businessman in Dubai. During the vacation when schools were closed here, his wife Fasalunnisa travelled, along with their children Muhammad Shahil, Fathima Sana and Aysha Shanza, to meet her husband.

On Friday, they were all travelling in the Air India aircraft to Kozhikode.

All five have received injuries and have been admitted to Baby Memorial Hospital Kozhikode except Sana, who is admitted to Al Shifa Hospital at Perinthalmanna in Malappuram.

"Saifudheen is my uncle. He and his family members were returning from Dubai when this unfortunate incident occurred. We were informed about the mishap at 8 pm. Now the family members have been shifted to Baby Memorial Hospital and everyone is fine now," Muhammad Salih, nephew of Saifudheen said.

The death toll in the flight crash landing incident at Kozhikode International Airport in Kerala rose to 18, including two pilots, Civil Aviation Minister Hardeep Singh Puri said on Saturday.

The minister said that he will visit the Kozhikode airport to take stock of the situation.

Two special relief flights have been arranged from Delhi and one from Mumbai for rendering humanitarian assistance to all the passengers and the family members.

Aircraft Accident Investigation Bureau (AAIB), Directorate General of Civil Aviation (DGCA) and Flight Safety Departments have reached to investigate the incident, the Air India Express stated.

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