BackNews in numbers | Apple’s Hyderabad centre to employ 4,000 people
It is the tech giant's first development centre outside the US
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What is it? The number of seats won by BJP is the assembly elections across Assam, Kerala, Puducherry, Tamil Nadu and West Bengal.
Why is it important? It had just five seats in these states in 2011, all in Assam. The party swept the polls in Assam with 60 seats, got its first seat in Kerala, and three in West Bengal, the last two traditionally Communist strongholds. Tamil Nadu and Puducherry remain out of its grasp. Its performance contrasts with that of Indian National Congress, which won 115 seats in these five states, down from 170 during last elections.
Tell me more: J. Jayalalithaa-led AIADMK retained its power in Tamil Nadu, the first time an incumbent got re-elected in the last 30 years. In West Bengal, Mamata Banerjee’s Trinamool Congress also retained power, winning more than expected 211 of the 294 seats in the assembly.
₹ 6,000 crore
What is it? The capital Punjab National Bank wants to raise through sale of bonds.
Why is it important? The public sector bank just reported the biggest quarterly loss ever reported by an Indian bank, thanks to reclassification of and providing for bad loans. The market, however, appears to have taken the news kindly, pushing its shares up by 3.5% even as the market was marginally down on the day it announced the news.
Tell me more: The bank has received board approval to raise ₹ 3,000 crore of tier-I capital bonds and an equal amount as tier-II capital bonds. The Reserve Bank of India had recently eased the capital requirement for banks as they struggle to provide for bad loans.
4,000
What is it? The number of people who will be employed for Apple’s new Hyderabad development centre.
Why is it important? It is the tech giant’s first development centre outside the US. The move underlines, besides the availability of technology talent in India, the company’s desire to navigate the political landscape of the country. There has been resistance to its plans to set up Apple Stores and sell refurbished iPhones in the country.
Tell me more: A majority of those in the development centre will be on the rolls of its partner RMSI, a geospatial and software services firm. They work on Apple Maps.
$1.46 billion
What is it? The fresh capital raised by electric car company Tesla Motors from the sale of 6.8 million shares.
Why is it important? It will help Tesla expand its capacity to produce 500,000 electric vehicles a year by 2018. Its ability to deliver cars at scale is crucial because it came under question after it received nearly 400,000 pre-orders for Model 3 sedan, a smaller, cheaper version of Model S.
Tell me more: The firm founded by Elon Musk raised over $4.5 billion in the last six years. It reported a net loss of $282.3 million in the first quarter of 2016.
$57.5 million
What is it? The price of “Oppenheimer Blue", a large, rare, 14.6 carat blue diamond at an auction in Geneva on Thursday.
Why is it important? It’s the costliest diamond ever sold in an auction, and broke the previous record set by “Blue Moon Diamond" last November at $48.6 million.
Tell me more: The diamond is named after Sir Philip Oppenheimer, who controlled the diamond cartel till his death in 1995.
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