What is it? India’s rank in Human Capital Report 2017 released by the World Economic Forum, the Geneva-based group known for organizing annual conferences bringing together leaders from different countries. Last year, the world’s second most populous nation was ranked 105 out of 130 countries.
Why is it important? The low ranking highlights the poor infrastructure to impart education, lack of opportunities to learn from the job, and low quality of high-skilled employees. Countries that are at the top of the rankings (Norway, Finland and Germany) have two things in common: ensuring educational attainment and deploying a large percentage of their workforce in skill-intensive occupations.
Tell me more: India has the world’s largest youth population, with nearly two-thirds of population below the age of 35. By 2020, India’s average age will be 29 years as compared to 37 years for China.
What is it? The number of people evacuated from different locations in Moscow on Wednesday due to bomb threats.
Why is it important? This is the fourth day since Russian cities and organizations started receiving phone calls about bombs being placed. So far, all have turned out to be hoaxes but 205 organizations and 20 Russian cities have been targeted nationally.
Tell me more: The identity of the callers are not yet found, but with some reports indicating it was originating outside Russia.
Rs 1,154 crore
What is it? The amount of dues payable by Reliance Communications Ltd (RCom) and its two subsidiaries to Ericsson India Pvt. Ltd, as per the insolvency petition filed by the Swedish firm before the National Company Law Tribunal (NCLT).
Why is it important? If the petition is accepted by the NCLT, it will scuttle the debt reduction plan by RCom, which plans to merge with wireless division of Aircel – another telecom provider – and sell 51% stake in the tower business to Canadian company, Brookfield Infrastructure. Ericsson has cited lack of clarity on repayment of dues as reasons for filing the petition. RCom has Rs 45,000 crore of debt, and deal to sell majority stake in tower business would have reduced the debt by Rs 25,000 crore.
Tell me more: Section 14 of the bankruptcy code put a moratorium of six months for fresh or pending suits, recoveries etc., from the data when insolvency proceedings commence.
What is it? The compounded returns achieved by Bessemer Venture Partners, a US-based venture capital, that sold its entire stake in the just concluded initial public offer of Matrimony.com, which runs online matchmaking services.
Why is it important? The successful exit for an investor from a domestic online venture comes at a time when many investors have written off investment in ventures like Housing.com in the last 15 months. Bessemer acquired the shares at an average cost of Rs 307.96 per share. The return was calculated based on upper price band of Rs 985 per share of face value of Rs5.
Tell me more: Matrimony.com’s IPO got oversubscribed 4.4 times, mainly due to retail and institutional investors.
Rs 518 crore
What is it? The net loss reported by Air Vistara, a joint venture between the Tata Group and Singapore Airlines, on a turnover of Rs 1,390 crore in financial year 2016-17.
Why is it important? The full service airline has reported loss even as three listed airlines – Indigo, Jet and Spicejet – have reported profits. Relatively low capacity utilisation and higher unit cost have contributed to a 29% increase in losses for Air Vistara.
Tell me more: Jet Airways reported a net profit of Rs 54 crore on a turnover of Rs 5,953 core during financial year ended March 2017.