Top headlines: Franklin apologises to Sebi, RIL sells another 2.32% in Jio

The fund house said the remarks made by Jenny Johnson during their quarterly earnings call were quoted “out of context” by media outlets
Franklin Templeton issues unconditional apology to market regulator, Sebi

Franklin Templeton on Friday issued an “unconditional apology” to market regulator Securities and Exchange Board of India (Sebi) over its global chief''s comments that regulatory tightening was behind the winding up of schemes. The fund house said the remarks made by Jenny Johnson, president and CEO, Franklin Templeton, during their quarterly earnings call were quoted “out of context” by media outlets. Read more here 

India's credit profile to face further pressure due to Covid-19: Moody's 

India's credit profile will face further pressures amid the coronavirus outbreak, according to rating agency Moody’s. The shock will exacerbate an already material slowdown in economic growth, which has significantly reduced prospects for durable fiscal consolidation, Moody’s said in credit opinion. Read more here 

RIL sells another 2.32% in Jio, this time to Vista Equity for Rs 11,367 cr 

Reliance Jio Platforms, part of Mukesh Ambani-controlled Reliance Industries group, has sold a 2.32 per cent stake to US-based private equity firm Vista Equity on a fully diluted basis for Rs 11,637 crore. This is a third major equity deal for Jio Platforms in three weeks — it previously sold a 9.9 per cent stake to Facebook for Rs 43,534 crore, and then 1.5 per cent to Silver Lake for Rs 5,655 crore. Read more here

AIIB extends $500 mn loan to India to deal with coronavirus crisis 

Multilateral funding agency Asian Infrastructure Investment Bank (AIIB) will extend a $500 million loan to India to support the country’s efforts to prevent, detect, and respond to the threat posed by the coronavirus. The project is funded by AIIB’s Covid-19 Crisis Recovery Facility, created to adapt to urgent financing needs of the bank’s members impacted by the pandemic, the bank said in a statement. Read more here 

Suspend guest worker visas, including H-1B for 60 days: Senators to Trump 

Four top Republican senators have urged US President Donald Trump to suspend all new guest worker visas for 60 days and some of its categories, including the H-1B visa, for at least the next year or until unemployment figures return to normal levels in the country. The unemployment figures in the US have reached an all-time high due to the coronavirus pandemic. Read more here

15 migrant workers run over by train while resting on their way back home 

In a tragic incident at least 15 migrant workers, who were sleeping on the railway tracks while on their way back to their native places were run over by a goods train between Maharashtra's Jalna and Aurangabad, officials said on Friday. A senior railway official confirmed that 15 migrant labourers were run over by a goods train between Jalna and Aurangabad of Nanded Divison of South Central Railway. Read more here

 



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