Biocon's Kiran Mazumdar is named EY World Entrepreneur Of The Year : Bulletin: Business Today
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Biocon's Kiran Mazumdar is named EY World Entrepreneur Of The Year

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June 5, 2020

Abu Dhabi's Mubadala to invest Rs 9,093.60 cr in Mukesh Ambani's Jio Platforms

Reliance Industries Limited and Jio Platforms Limited have announced the Abu Dhabi-based sovereign investor Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Mubadala's investment will translate into a 1.85% equity stake in Jio Platforms on a fully diluted basis, the company said. Reliance has now sold a combined 19% interest in Jio Platforms and the current investment -- sixth in less than six weeks -- takes Jio Platforms' total funding to Rs 87,655.35 cror.

Amazon in early-stage talks to buy $2 billion stake in Bharti Airtel

Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel, three people with knowledge of the discussions told Reuters, in a move that could turbocharge India's digital economy. The planned investment, if completed, would mean Amazon acquiring a roughly 5% stake based on the current market value of Bharti and would give India's third-largest telecoms company a boost.

Lockdown impact: April tax revenues for 3 states show up to 70% shortfall; Kerala worst hit

A month-long complete lockdown has started showing its ominous signs on the state finances, clearly evident in the sluggish pace of tax revenues in three states during the first month of the current fiscal. States such as Jharkhand, Odisha and Kerala, saw a shortfall of up to 70 per cent, or Rs 3,000 crore in tax revenues in April 2020 compared to April 2019.

RBI sets up Payments Infrastructure Development Fund to boost digitisation

Coronavirus crisis: Finance Ministry holds all new schemes for FY21 to rein in expenses

The Finance Ministry has prohibited all government ministries and departments from putting forward new schemes in FY21, except those under the Pradhan Mantri Garib Kalyan Yojana and Atma Nirbhar Bharat Abhiyan. The ministry has taken the decision to rein in outlays to deal with COVID-19 crisis-related expenses in the wake of an economic downturn.

Biocon MD Kiran Mazumdar-Shaw is named EY World Entrepreneur Of The Year

Kiran Mazumdar Shaw, Executive Chairperson and Managing Director of Biocon Limited, has been picked as the EY World Entrepreneur Of The Year for 2020.She was chosen from among 46 nominations from 41 countries, becoming the second woman to hold the title. Sixty seven year old Shaw founded Biocon, a bio-enzymes company, in 1978 with just two employees and $500. She is the third Indian to win the accolade after Uday Kotak and Narayana Murthy.

India's unemployment rate drops to 5.8% in FY19; jobless among SCs, STs, minorities rise

A survey released by the National Sample Survey Office (NSSO) on Thursday showed that unemployment rate among Scheduled Castes (SCs), Scheduled Tribes (STs) and minorities has gone up during fiscal year 2018-19, despite drop in the overall rate in India.  This report includes data collected between July, 2018 and July, 2019.

Coronavirus update: India reports highest single-day jump with 9,851 new cases; tally surges to 2.26 lakh


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