News snippets:

1) The public sector contributes only 20 percent to the national income but accounts for nearly
40 percent of the total wages. The average share of the public sector in gross value added
for the ten years ending FY21 is 19.2 percent. Still, the percentage in wages is 39.2
percent, India Ratings and Research said in an analysis based on gross value added (GVA)
data released by the National Statistical Office. The agency said that the share of the private
sector in GVA and wages is "more evenly balanced," pointing out that it accounts for 35.2
percent of the wages while its contribution to GVA is 36.3 percent for the same period.

Source: https://www.business-standard.com/

2) Broadcaster Disney Star has retained the rights to telecast International Cricket Council (ICC)
tournaments till 2027 for $3 billion. The network won the closed-loop bid process after
beating rivals like Sony, Zee, and Viacom18, the ICC announced on Saturday evening. The
winning bid, however, is double the base price of $1.44 billion for a four-year cycle. The deal
includes digital and television rights for men's and women's ICC tournaments. It is a big plus
for Disney Star, which had lost the digital rights of the Indian Premier League (IPL) for the
2023-27 cycle to Viacom18 in June.

Source: https://www.business-standard.com/

3) Reliance Industries Ltd (RIL), the country’s most valuable company, set the tone for the
future during its 45th annual general meeting, saying it would aim to double its market value
by 2027, the year the company celebrates its golden jubilee. The company will invest Rs 2
trillion in the roll-out of a standalone 5G network, Rs 75,000 crore in expanding its O2C (oil-
to-chemicals) capacities across value chains, and Rs 75,000 crore in new energy, as
announced last year, RIL Chairman and Managing Director Mukesh Ambani said at the
shareholders’ meeting today.
Source: https://www.business-standard.com/

4) PC and printer major HP Inc on Monday announced the completion of its $3.3 billion
acquisition of Poly, a leading global provider of workplace collaboration solutions.The deal is
expected to accelerate HP's strategy to create a more growth-oriented portfolio, strengthen its
industry opportunity in hybrid work solutions, and position the combined organization for
long-term sustainable growth and value creation.
The merger of HP and Poly comes as businesses and their employees focus on finding better
ways to work and collaborate in the hybrid world.

Source: https://www.business-standard.com/