Byjus raises 150 mn from investors led by Qatar wealth fund education

first_imgCEO of the Qatar Investment Authority Abdullah Bin Mohammed Bin Saud Al Thani |Reuters IndiaOnline tutoring startup Byju’s said on Wednesday it had raised $150 million from investors led by the Qatar Investment Authority (QIA), which a source familiar with the matter said valued it at more than $5.5 billion.Venture capital fund Owl Ventures also participated in the funding round and the proceeds will be used for international expansion, Byju’s said in a statement, without saying what valuation the investment implied for the firm.”This investment underscores QIA’s strong commitment to the education sector and our focus on investing in leading innovators in the TMT (tech, media and telecoms) industry globally,” Mansoor Al-Mahmoud, CEO of QIA, Qatar’s sovereign wealth fund, said in the statement.Launched in 2015 in the southern Indian tech hub of Bengaluru, Byju’s has so far raised roughly $970 million from investors, tracker Crunchbase says.This includes investment from China’s Tencent, South Africa’s Naspers and the Canadian Pension Plan Investment Board. Indian school children prepare for their Central Board of Secondary Education (CBSE)Raveendran/AFP/Getty Imageslast_img read more

Man Charged in the Citys First Murder of 2019

first_imgBy Michelle Richardson, Special to the AFROThe Baltimore Police Department (BPD),have arrested a man they say is responsible for the first murder if 2019.Jan. 28, detectives arrested Gilbert Della, 24, in the 200 block of N. Wickham St for the murder of 28 year old Ikeem Isaac.Gilbert Della, 24, was arrested for the murder of 28 year old Ikeem Isaac. (Photo courtesy: Baltimore Police Department)On New Year’s Day, Isaac was gunned down in the 4900 block of Frederick Avenue just before 4:30 p.m. he was transported to shock trauma where he was pronounced dead.According to witnesses, Della was seen fleeing the scene in a Silver Honda.Through their investigation, police determined Della to be the suspect and obtained a warrant for his arrest on January 5th.Della is scheduled to be in court February 28 for a preliminary hearing and he has been ordered held until his hearing.Della is charged with 13 counts including first-degree murder, first-degree assault, and numerous firearm violations.As of Jan. 31 there was no attorney listed for Della.last_img read more

Mexico US business groups urge Trump to back down on tariff threat

first_imgU.S. President Donald Trump boards Air Force One for travel to Colorado from Joint Base Andrews, Maryland, U.S. May 30, 2019. REUTERS/Jonathan ErnstU.S. President Donald Trump boards Air Force One for travel to Colorado from Joint Base Andrews, Maryland, U.S. May 30, 2019. REUTERS/Jonathan Ernst Mexico’s president and the top U.S. business lobbying group called on President Donald Trump to back down from a threat to impose punitive tariffs on Mexican imports, in a dispute over migration that could shock Mexico’s economy.Trump said he will introduce the tariffs on June 10 if Mexico does not halt the flow of illegal immigration, largely from Central America, across the U.S.-Mexican border, battering Mexican financial assets and denting global stocks.The ultimatum from Trump is the biggest foreign policy test to date for Mexican President Andres Manuel Lopez Obrador and a tall order for Mexican security forces struggling not only to combat migrant flows but also to fight a record level of gang violence and homicide.Mexico’s economy, which is heavily reliant on exports to the United States, shrank in the first quarter and would reel under U.S. tariffs that could reach as high as 25% this year under Trump’s plan.(GRAPHIC: Trump vows high tariffs on all Mexican goods – https://tmsnrt.rs/2Khd82D)Veteran leftist Lopez Obrador, who took office in December, predicted that Trump, who is also engaged in a worsening trade war with China, would ease up on his demand.“I tell all Mexicans to have faith, we will overcome this attitude of the U.S. government, they will make rectifications because the Mexican people don’t deserve to be treated in the way being attempted,” Lopez Obrador told reporters.In April, Trump took a step back from an earlier threat to completely close the U.S. border with Mexico to fight illegal immigration, under pressure from companies worried it would cause chaos for businesses. The tide of migrants crossing from Mexico has swelled, with U.S. officials saying that an average of 4,500 are arriving daily.Global equities tumbled and safe-haven sovereign bonds surged Friday after Trump’s unexpected threat added to fears that escalating trade wars will push the United States and other major economies into recession.Mexican Foreign Minister Marcelo Ebrard said he would attend talks with U.S. Secretary of State Mike Pompeo in Washington on Wednesday to discuss the tariff issue.The influential U.S. Chamber of Commerce is looking at ways to challenge Trump’s tariff move against Mexico, including legal options. “We have no choice but to pursue every option available to push back,” Neil Bradley, the business group’s executive vice president and chief policy officer, told reporters.Other industry groups also criticized Trump’s threat, saying it would hurt American businesses, farmers and consumers who have already borne the brunt of the U.S.-China trade dispute.The White House called on U.S. companies to persuade their Mexican partners to lobby their government to cooperate.“Industry should be in communication with their counterparts in Mexico to encourage the Mexican government to work with the administration and stave off the dangerous crisis at our southern border as quickly as possible,” spokesman Judd Deere said.Underscoring the interconnected nature of the U.S. and Mexican economies, the U.S.-based Beer Institute said most Mexican beer sold in the United States is made from U.S.-grown barley and hops.“Whether it be the truck driver, farmer, distributor, local retailer or favourite tavern, every community in America will be affected by this decision,” Jim McGreevy, the institute’s president and chief executive, said of the proposed tariffs.Mexico sends 600,000 to 700,000 barrels of oil to the United States every day, mostly to refiners, and buys more than 1 million barrels per day of U.S. crude and fuel, more than any other country. Analysts are concerned that retaliatory tariffs from Mexico could disrupt that trade.STEEP TARIFFSTrump, who has embraced protectionism as part of an “America First” agenda aimed at reshaping global trade, said in a tweet on Thursday he would ratchet up tariffs on Mexico “until the Illegal Immigration problem is remedied.”The plan would impose a 5% tariff on Mexican imports starting on June 10 and increase monthly, up to 25% on Oct. 1.Such levies would deliver a heavy blow to Mexico’s economy, which is underpinned by exports to the United States of goods from avocados and tequila to televisions and cars made by companies such as Ford Motor Coand Nissan.Mexico sends around 80 percent of its exports to the United States and is one of America’s top trading partners.Mexican officials have signalled they will respond in kind if Washington actually imposes tariffs, steps likely to target regions with high concentrations of Trump voters.Mexican stocks slid 1.4% on Friday as equities fell across the region, while the peso softened 2.3%.Trump sought to turn up the pressure again on Friday.“Mexico makes a FORTUNE from the U.S., have for decades, they can easily fix this problem. Time for them to finally do what must be done!” Trump wrote on Twitter.Trump vowed frequently during his 2016 election campaign to make Mexico pay for construction of a wall on the U.S.-Mexican border to curb illegal immigration, but successive Mexican governments have firmly rejected that idea.The U.S. Congress also refused a request from Trump for $5.7 billion (4.5 billion pounds) to help build the wall, prompting him to declare a national emergency and try to divert funds from other areas of the U.S. government. The issue is now in the courts.Trump and fellow Republicans say something needs to be done to stem the biggest migrant surge on the border in a decade.U.S. officials say 80,000 people are being held in custody, and the 4,500 mostly Central American migrants that on average are arriving daily are overwhelming the abilities of Border Patrol officials.A senior White House official said Trump was particularly concerned that U.S. border agents apprehended a group of 1,036 migrants illegally crossing from Mexico on Wednesday, the largest single group since October, officials said. Before making the threat, Trump posted a video purporting to show the crossing on his Twitter feed.Since taking office in December, Mexico’s Lopez Obrador has urged Trump to help him tackle migration by promoting economic development in Guatemala, Honduras and El Salvador, the poor Central American countries where most of the migrants apprehended on the U.S. border come from.WhatsApp <a href=’http://revive.newsbook.com.mt/www/delivery/ck.php?n=ab2c8853&amp;cb={random}’ target=’_blank’><img src=’https://revive.newsbook.com.mt/www/delivery/avw.php?zoneid=97&amp;cb={random}&amp;n=ab2c8853&amp;ct0={clickurl_enc}’ border=’0′ alt=” /></a> SharePrintlast_img read more