'Congress not campaigning where they have fight with BJP'

May 9: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.

US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.

The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.

Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.

General Atlantic declined to comment on the report, while Jio and PIF did not immediately respond to Reuters request for comment. Hours earlier on Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.

The conglomerate cut a $5.7 billion deal with Facebook for a 9.99 per cent stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.

Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.

Vista's investment gave Jio an equity value of Rs 4.91 trillion ($65 billion) and an enterprise value of Rs 5.16 trillion, said Reliance, controlled by billionaire tycoon Mukesh Ambani.

The potential investments from New York-based General Atlantic and the Saudi sovereign wealth fund, which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised.

Saudi's PIF has been buying minority stakes several companies. Last month, it disclosed an 8.2 per cent stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares up nearly 30 per cent higher.

New Delhi, Jun 18: For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday.

The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre.

Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi.

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

New Delhi, Apr 15: CPI-M leader Sitaram Yechury has sought a substantial increase in relief spending of the Central government in the fight against coronavirus, saying that there should be cash transfer of Rs 7,500 to families not paying income tax and distribution of free foodgrains to all needy.

In an article in the forthcoming issue of the party's mouthpiece -- People's Democracy -- Yechury said that India ranks among the countries that are testing the least for the coronavirus and testing should be increased rapidly.

Yechury said the financial stimulus package should be raised from the current 0.8 per cent to at least 5 per cent of GDP and States should be provided liberal funding.

"We must ensure that there are no starvation deaths that occur in our country. It is, therefore, imperative that the government must immediately implement a Rs 7,500 ex gratia cash transfer to all non-income tax-paying families and resort to universal distribution of free foodgrains to all needy people," Yechury said.

He said all MGNREGA workers should be paid wages irrespective of work and employers should be assisted financially to protect workers from job losses and wage cuts and arrangement should be made for the return of migrant workers to their homes.

"Testing is of crucial importance to identify the clusters where the pandemic is spreading in order to isolate and insulate them to contain the community spread. Inadequate testing does not provide us with such information. It is dangerous both for the inability to contain the spread and to identify the critical areas," the article said.

It said that till April 9, India's record of testing was 0.092 per thousand, while in Germany it was 15.96, Italy 14.43, Australia 12.99, Denmark 10.73 and Canada 9.99. "Unless our testing rate increases substantially, our strength to combat the pandemic will not grow," the article said.

Yechury said that the first case in India was reported on January 30 and "no substantive measures were taken despite this for seven long weeks" until the declaration of the lockdown on March 24.

"As far as the lockdown is concerned, many countries in the world moved with greater urgency - China locked down Wuhan on January 23, the whole of Italy was locked down on March 10, USA declared a national emergency on March 13, Spain on March 14, France on March 17 and UK on March 23," he said.

Yechury said the people were looking forward to the Prime Minister's address to the nation on the last day of the three-week countrywide lockdown.

"These three weeks have thrown up many experiences that need to be addressed urgently in order, both, to strengthen our fight against the COVID-19 pandemic and to protect the lives and survival of crores of our fellow citizens. On none of these issues of vital importance did the Prime Minister have anything substantial to say," he said.