Mangaluru engineering college students held for raping 19-yr-old married woman

Bengaluru, May 29: The hotel industry is one of the worst-hit industries due to lockdown, along with the tourism industry. Bengaluru's hotel industry has incurred a loss of around Rs 1200 crore during the lockdown period however, the hotels here are likely to open in June if the State government issues guidelines for the resumption of their services.

Speaking to media, PC Rao, President, Bangalore Hotelier's Association said, "It's not only the loss of business, but we have lost the customer base as well. 
We don't expect any good future for the next six months. There will be a slow down in the business even after opening."

"We have requested our CM to give first preference to the hotels. We are going to restart our business in June if granted permission. Around 10 per cent of the hotels cannot open at all. They are in the stage of merging or closing down position. Few hotels may open after five or six months," he added.

He continued saying that many hotels are for sale but there are no buyers. There are around 21,000 restaurants in Bangalore, 3500 hotels with rooms and restaurant which has an average turnover of Rs 20 crores per day, Rao informed.

"We expect losses of around Rs 1200 crores in these two months. We are giving special online training to all the hoteliers and to our managers particularly to deal with the COVID-19 situation, including how to deal with the guests, employees, how to start the hotel services. 

Each and every manager has already been trained and we are still continuing it. We will conduct face to face meeting as well and brief the managers," said Rao.

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

Bengaluru, Mar 19: As a precautionary measure to prevent the spread of coronavirus, the Karnataka State Board of Auqaf has issued an advisory to mosques, dargahs and other religious institutions, requesting them to conclude the Friday congregation in 15 minutes for the next three weeks.

"Respected head of masjids and imams (prayer leader) are requested to conclude the entire Juma congregation (including Juma khutbah, salah and dua) in 15 minutes for the next three weeks and avoid using the public mic for the khutbah and salah," read a statement from the Karnataka State Board of Auqaf.

It has advised to ensure cleanliness and good hygiene inside mosques and keep the carpets, prayer mats, floor mats etc clean.

Further, it stated that those coming for daily prayers should be instructed to perform wudhu (ablution) at their homes and avoid using prayer caps placed in masjids.

"Please remove the public towels and prayer caps from the masjids. Sunnah and nafil prayers should observed at home," the advisory read.

The advisory came as the number of coronavirus patients spiralled across the country. The governments are taking all precautionary measures to contain the spread of the virus that has claimed more than 7,500 lives across the globe since its outbreak in China in December last year.