Zuckerberg among Facebook users mistakenly declared 'dead'

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

US dictionary Merriam-Webster will update the meaning of the word "racism" after being contacted by a Missouri black woman, who claimed the current definition fell short of including the systematic oppression of people of colour, according to media reports.

"A revision to the entry for racism is now being drafted to be added to the dictionary soon, and we are also planning to revise the entries of other words that are related to racism or have racial connotations," according to a statement of the 189-year-old dictionary shared by Kennedy Mitchum, a recent graduate of Drake University in Iowa, on her Facebook.

Mitchum, 22, emailed the dictionary last month, following the death of African American George Floyd in the custody of four Minneapolis police officers, Xinhua news agency reported.

"I kept having to tell them that definition is not representative of what is actually happening in the world," Mitchum told CNN. "The way that racism occurs in real life is not just prejudice, it's the systemic racism that is happening for a lot of black Americans."

Merriam-Webster's first definition of racism is "a belief that race is the primary determinant of human traits and capacities and that racial differences produce an inherent superiority of a particular race."

"It's not just disliking someone because of their race," Mitchum wrote in a Facebook post on Friday. "This current fight we are in is evidence of that, lives are at stake because of the systems of oppression that go hand-in-hand with racism."

New Delhi, Jun 24: The Centre has made it mandatory for sellers to enter the 'Country of Origin' while registering all new products on government e-marketplace (GeM).

The e-marketplace is a special purpose vehicle (SPV) under the Ministry of Commerce and Industry which facilitates the entry of small local sellers in public procurement, while implementing 'Make in India' and MSE Purchase Preference Policies of the Centre.

Accordingly, the ministry said the move has been made to promote 'Make in India' and 'Atma Nirbhar Bharat'.

The provision has been enabled via the introduction of new features on GeM.

Besides the registration process, the new feature also reminds sellers who have already uploaded their products, to disclose their products' 'Country of Origin' details.

The ministry further said that failing to disclose the detail will lead to removal of the products from the e-marketplace.

"GeM has taken this significant step to promote 'Make in India' and 'Aatmanirbhar Bharat'," the ministry said in a statement.

"GeM has also enabled a provision for indication of the percentage of local content in products. With this new feature, now, the 'Country of Origin' as well as the local content percentage are visible in the marketplace for all items. More importantly, the 'Make in India' filter has now been enabled on the portal. Buyers can choose to buy only those products that meet the minimum 50 per cent local content criteria."

In case of bids, the ministry said that buyers can now reserve any bid for a "Class I Local suppliers. For those bids below Rs 200 crore, only Class I and Class II Local Suppliers are eligible to bid, with Class I supplier getting purchase preference".

In addition to this, the Department for Promotion of Industry and Internal Trade (DPIIT) has reportedly called for a meeting with all e-commerce companies such as Amazon and Flipkart to display the country of origin on the products sold on their platform, as well as the extent of value added in India.