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Economy Updates: Facebook invests $5.7 billion in Jio Platforms

Facebook invests in Jio Platforms Approx Read Time: 7 minutes In News: Facebook invests in Jio Social media giant Facebook has agreed to invest $5.7 billion or Rs 43,574 crore for a 9.99% stake in Jio Platforms, a unit of Reliance Industries (RIL). News Summary: The investment by Facebook puts the value of Jio Platforms …

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Govt nod mandatory for FDI from neighboring countries

Govt amended FDI Policies Approx Read Time: 5 minutes In News: The government has amended its foreign direct investment (FDI) policy to put a blanket ban on investments through the automatic route by entities from countries that share a border with India. The move has been construed as being aimed at Chinese investors as such …

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International Bytes: Saudi Aramco to float IPO

Saudi Aramco to float IPO Approx Read Time: 3 minutes In News: Saudi Arabia’s Saudi Aramco announced its intention to float its initial public offering (IPO) on the domestic bourse. This could be the world’s biggest listing. This is part of Saudi Arabian government’s plan to diversify its economy. About: Saudi Aramco The Saudi Arabian …

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