India’s heavyweight in space 🚀

3,136 kg

What is it? The weight of the GSAT-19 satellite scheduled for launch by Indian Space Research Organisation (Isro) on Monday.

Why is it important? It is India’s heaviest satellite yet, to be carried by the GSLV Mark III rocket, India’s heaviest rocket so far. The communication satellite, to be launched from Sriharikota, will improve Internet speed and data connectivity across the country.

Tell me more: The launch vehicle can carry up to 4,000 kg of payload and will be placing the satellite at a distance of 36,000 km from the Earth.

 

$108,026

What is it? The Wipro Chairman Azim Premji’s compensation in the 2016-17 fiscal.

Why is it important? It has dropped 63% from $292,991 from FY 2016, even as Wipro’s profit decreased 4.7% to Rs 84.9 lakh-crore.  As IT sector faces rough weather, complaints about compensation to its leaders have been growing too. CEOs of Infosys, Cognizant and Genpact took pay cuts recently.

Tell me more: Former Infosys chairman NR Narayana Murthy, in an interview, called for senior IT executives to cut down their compensations to stop lay offs.

 

12

What is it? The number of arrests British police have made following Saturday evening’s terror attack in London.

Why is it important? The attack, claimed by terror group Isis and which killed seven, comes close on the heels of 23 May’s attack in Manchester, considered the second deadliest terror attack in the UK. West European countries have seen a marked rise in terror attacks since 2014.

Tell me more: The modus operandi was similar to the March attack in Westminster, that of the assailant(s) ramming a vehicle into pedestrians and then wielding weapons to attack passersby. The arrests were made in east London.

 

$7 billion

What is it? The additional capital SoftBank is in talks to raise for its Vision Fund.

Why is it important? If it succeeds, it will be the world’s first private equity fund to cross $100 billion mark. With $93 billion in commitments, it’s already the world’s largest PE fund. It will drive investments in technology, especially in emerging areas such as artificial intelligence.

Tell me more:  The current backers include Apple, Qualcomm, Foxconn and Saudi Arabia’s PID public fund.  The group is talking to investors in Canada and West Asia, according to reports.

 

Rs 5,000 crore

What is it? The estimated amount to be raised in initial public offerings by four companies in June.

Why is it important? This would be around 25% of the minimum value of Rs 20,000 crore expected to be raised in FY17 through IPOs. In 2017, so far, eight companies have raised Rs 6,335.83 crore. The stir in IPOs had made India one of the busiest in the region spanning Europe, West Asia, India and Africa in the first quarter of 2017.

Tell me more: Twenty-six companies had raised Rs 26,493.84 crore in IPOs in 2016. Tejas Networks, CDSL, Eris Lifesciences and Au Small Finance Bank are expected to list in June.

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