Intel Capital to pump in Rs 1,894.5 cr in Jio Platforms; 12th investment in 11 weeks
Intel Capital, investment arm of Intel Corporation, will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital's investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of marquee firms that have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore.
India approves purchase of Russian combat jets worth $2.4 billion amid tensions with China
Indian government on Thursday approved the purchase of 33 Russian fighter jets and upgrades to another 59 planes, acting to beef up its air force at a time when the military is locked in a border stand-off with China.
The approval for 21 MiG-29 planes and a dozen Su-30 jets will together cost 181.48 billion rupees ($2.43 billion), the defence ministry said.
Coronavirus update: Zydus Cadila's candidate 2nd vaccine approved for human trials
Zydus Cadila Healthcare has received approval from the Drug Controller General of India (DCGI) for human trials of its coronavirus vaccine candidate. This is the second vaccine candidate to be approved for human trials in India after Hyderabad-based Bharat Biotech's COVAXIN that has been developed in collaboration with Indian Council of Medical Research and National Institute of Virology (NIV).
Coronavirus fallout: Services sector contracted sharply in June for 4th straight monthIndia's crippled services industry, the lifeblood of economic growth and jobs, contracted sharply in June as an extended lockdown imposed to stop the spread of the coronavirus stalled business activity, a private sector survey showed. Although the pace of decline moderated from May - the Nikkei/IHS Markit Services Purchasing Managers' Index jumped to 33.7 in June from May's 12.6 - it remained a long way from the 50-mark separating growth from contraction.
Coronavirus in US: Donald Trump hopeful on vaccine; says 3 candidates looking good
US President Donald Trump on Thursday voiced optimism the United States would soon come up with a vaccine for the novel coronavirus, saying three vaccine candidates were looking especially good. "Three are really, really looking good," Trump said at an event at the White House, without providing details. "We think we're going to have it soon."
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