HERE ARE THE TOP 5 STORIES OF THE WEEK:
• JIO TO DEVELOP LARGEST INTERNATIONAL SUBMARINE CABLE SYSTEM
In conjunction with several key global partners and world-class submarine cable supplier Subcom, Jio is currently deploying two next-generation cables to support the extraordinary growth in data demand across the region. The IAX system and IEX system will seamlessly interconnect as well as connect to the world’s top inter-exchange points and contents hub.
• Invit IPO: NHAI InvIT to be in the market by month end
The first InvIT by the NHAI, by which it aims to raise Rs 5,100 crore, is expected to enter the market by the end of May or early June. The company will receive 100% of the equity shares of the SPV from NHAI.
• WORLD ECONOMIC FORUM CANCELS ANNUAL MEETING 2021 DUE TO COVID-19
The meeting was already postponed twice with two changes in the location. The next annual meeting of WEF is expected to take place in the first half of 2022. In an advisory, the WEF has said that it has been preparing for special annual meeting in Singapore that will take place in just 3 months from now.
• JAL JEEVAN MISSION: GOVT. RELEASES CENTRAL GRANT FOR 15 STATES
The Indian government has delivered Rs 5968 crore to 15 states to execute Jal Jeevan Mission in the financial year 2021-22. It is the first tranche of the four phases to be released in this fiscal year.
• GOVT OFFERS TAX RELIEF TO FOUR MORE FOREIGN FUNDS TO PUSH INFRA INVESTMENTS
The foreign funds that have been given the tax break are OMERS Administration Corp pension fund , Australian pension fund, UK’s CDC Group Plc and Public Sector Pension Investment Board pension fund.
That’s all for this week, stay tuned at www.constructionworld.in for more updates