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Belgrade, June 23: Novak Djokovic tested positive for the coronavirus on Tuesday after taking part in a tennis exhibition series he organized in Serbia and Croatia.

The top-ranked Serb is the fourth player to test positive for the virus after first playing in Belgrade and then again last weekend in Zadar, Croatia.

His wife also tested positive. “The moment we arrived in Belgrade we went to be tested. My result is positive, just as Jelena's, while the results of our children are negative," Djokovic said in a statement.

Djokovic has been criticized for organizing the tournament and bringing in players from other countries amid the coronavirus pandemic.

Viktor Troicki said Tuesday that he and his pregnant wife have both been diagnosed with the virus, while Grigor Dimitrov, a three-time Grand Slam semifinalist from Bulgaria, said Sunday he tested positive.

Borna Coric played Dimitrov on Saturday in Zadar and said Monday he has also tested positive. There were no social distancing measures observed at the matches in either country and Djokovic and other players were seen hugging each other and partying in night clubs and restaurants after the matches.

 “Everything we did in the past month, we did with a pure heart and sincere intentions,” Djokovic said.

“Our tournament meant to unite and share a message of solidarity and compassion throughout the region.” Djokovic, who has previously said he was against taking a vaccine for the virus even if it became mandatory to travel, was the face behind the Adria Tour, a series of exhibition events that started in the Serbian capital and then moved to Zadar.

He left Croatia after the final was canceled and was tested in Belgrade. The statement said Djokovic was showing no symptoms.

Despite the positive test, Djokovic defended the exhibition series. “It was all born with a philanthropic idea, to direct all raised funds towards people in need and it warmed my heart to see how everybody strongly responded to this,” Djokovic said.

"We organized the tournament at the moment when the virus has weakened, believing that the conditions for hosting the Tour had been met. “Unfortunately, this virus is still present, and it is a new reality that we are still learning to cope and live with.”

Djokovic said he will remain in self-isolation for 14 days and also apologized to anyone who became infected as a result of the series. Organizers of the Adria Tour said the third stage of the event, scheduled to held next week in Bosnia, has been cancelled.

Mumbai, Jul 24: Reliance India Limited (RIL) on Friday overtook ExxonMobil to become the world's second most valuable energy company and 46th among the world's largest companies by market capitalisation.

RIL's market capitalisation stood at Rs 14.16 lakh crore (USD 189.3 billion) at market close on Friday. ExxonMobil's current market value is USD 184.77 billion.

"Reliance Industries, with a market capitalisation of USD 189.3 billion now is the second-most valuable energy company in the world. Reliance Industries now stands at 46th among the world's largest companies by market capitalisation ahead of well-known names like ExxonMobil, Abbott Laboratories, Oracle Corp, Chevron and Unilever Plc, and just below PepsiCo," RIL said in an official release.

RIL continued its rally on Friday, notwithstanding overall weak market conditions.

RIL shares made a new all-time high of Rs 2,163 and were last traded at Rs 2,148.8 on NSE with a gain of 4.4 per cent. The market capitalisation of fully paid-up shares stands at Rs 13.62 lakh crore (USD 182.06 billion), the release said.

Reliance partly paid-up shares gained 9.33 per cent on NSE today to last trade at Rs 1289.95. The partly paid-up shares now have a market capitalisation of Rs 0.55 lakh crore (USD 7.29 billion).

"Reliance's share price had touched a bottom of Rs 867 on March 23, 2020, when the total market value of the company stood at Rs 5.5 lakh crore or $73.5 billion. Thus, RIL has added $115.9 billion to shareholder wealth within just four months - one of the highest value creation feats in the world in such a short time," the release said.

Reliance had earlier raised Rs 212,809 crore through Rights Issue, combined investments in Jio Platforms and investment by bp.

Jan 6: India’s Finance Ministry has delivered a challenge to its revenue collectors: meet tax targets despite $20 billion of corporate tax cuts.

Through a video conference on Dec. 16, officials were exhorted to meet the direct tax mop-up target of 13.4 trillion rupees ($187 billion), a government official told reporters. Collection in the eight months to November grew at 5% from a year earlier, against the desired 17%.

The missive shows Prime Minister Narendra Modi’s urgent need to buoy public finances in a slowing economy where April-November tax collections were half the amount budgeted. Authorities withheld some payments to states and have capped ministries’ expenditure as the fiscal deficit ballooned beyond the target.

The government’s efforts to maintain its deficit goal goes against advice from some quarters, including central bank Governor Shaktikanta Das, who urged more spending to spur economic growth.

It’s uncertain though how much room Modi’s administration has to boost expenditure, given that it may already be borrowing as much as 540 billion rupees through state-run companies, a figure that isn’t reflected on the federal balance sheet. Uncertainty about public finances pushed up sovereign yields in November and December, compelling Das to announce unconventional policies to keep costs in check.

“This is not a time to conceal the fiscal deficit by off-budget borrowing or deferring payments,” said Indira Rajaraman, an economist and a former member of the Reserve Bank of India’s board. “If they were to stick to the target, that would be catastrophic because there is so much pump-priming that is needed right now.”

GDP grew 4.5% in the quarter ended September, the slowest pace in more than six years as both consumption and investments cooled in Asia’s third-largest economy. Only government spending supported the expansion, piling pressure on Modi to keep stimulating.

S&P Global Ratings warned in December it may downgrade India’s sovereign ratings if economic growth doesn’t recover. Government support seems to be waning now, with ministries asked to cap spending in the final quarter of the financial year at 25% of the amount budgeted rather than 33% allowed earlier. This new rule will hamstring sectors including agriculture, aviation and coal, where not even half of annual targets have been disbursed.

As the federal government runs short of money, it’s been delaying payouts to state administrations.

Private hospitals have threatened to suspend cash-less services to government employees over non-payment of dues, while a builder informed the stock exchange about delayed rental payments from no less than the tax office itself.

India is considering a litigation-settlement plan that will allow companies to exit lingering tax disputes by paying a portion of the money demanded by the government, the Economic Times newspaper reported Saturday.

The move will help improve the ease of doing business besides unlocking a part of the almost 8 trillion rupees ($111 billion) caught up in these disputes. The step, which is being considered as part of the annual budget, could also bridge India’s fiscal gap.

Finance Minister Nirmala Sitharaman has refused to comment on the deficit goal before the official budget presentation due Feb. 1.

A deviation from target, if any, “will need to be balanced with a credible consolidation plan further-out,” said Radhika Rao, an economist at DBS Group Holdings Ltd. in Singapore.