Ato hails tech giants 7 billion sales surge

“Companies and groups fund trips because they want to promote a view. This is standard practice. I think it’s naive to think you can accept a trip somewhere and can still remain totally unbiased.” … [Read more...] about Cyber experts warn Chinese tech giant poses a threat to Australian security

Mukesh Ambani, Asia’s richest man, has lured more than $10 billion of investment for his India-based digital platform business in a month, even as the economy struggles under the world’s most stringent lockdown to prevent the spread of the coronavirus. New York-based KKR & Co became the latest private equity firm to invest in Jio Platforms Ltd., the telecom and digital services holding company controlled by Ambani’s Reliance Industries Ltd., the Mumbai-based company said in a statement. The private equity fund will pay 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio. Ambani has been selling stakes in Jio in support of a vow to bring net debt of more than $20 billion to zero at his oil, retail and telecommunications group before March 2021. The deals with U.S.-based giants from Facebook Inc. to Silver Lake and General Atlantic bolster Ambani’s plan to shift away from oil and petrochemicals toward faster-growing consumer businesses. … [Read more...] about Mukesh Ambani has made over $10 billion in a month under lockdown

The growth, hitting an all-time monthly high for April, came despite a drop in users as the country's efforts in work resumption filtered through, signaling big market potential in the game sector, the report said. … [Read more...] about China’s mobile game market surges 24.4% in April

HYDERABAD: The Andhra Pradesh High Court on Tuesday cleared the decks for the merger of Satyam Computer Services with Tech Mahindra, which will create the fifth-largest Indian information technology firm, after it dismissed petitions against the move. Justice NRL Nageswara Rao dismissed petitions filed by 35 entities, including those from the family of Satyam’s Founder Ramalinga Raju, engineering and construction firm IL&FS and minority shareholders who opposed the merger. However, the court said all investigations into the accounting fraud at Satyam would continue. The Raju family and IL&FS had sought a refund of Rs 1,230 crore that they claimed to have lent Satyam before a crisis hit it in January 2009. Raju had on January 7, 2009, confessed to fudging the accounts of Satyam for years to the tune of at least Rs 7,136 crore. On the other hand, the minority shareholders objected to the merger ratio. They alleged that Mahindra group fixed the swap ratio—two equity … [Read more...] about Satyam, Tech Mahindra gain on Andhra Pradesh High Court nod for merger

Bezos’ wealth grew over 30 percent to $147.6 billion, while Zuckerberg’s fortune leapt by more than 45 percent to $80 billion, according to the research by Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality. The analysis was based on data from Forbes billionaires list. … [Read more...] about Facebook’s Zuckerberg wealth increased by 45% to $80 billion amid pandemic