Showing posts with label billion. Show all posts
Showing posts with label billion. Show all posts

Thursday, February 11, 2016

Centre mulls 3 billion fund for Muslims education 2014



The Centre on Saturday said it will soon announce a special fund to the tune of $3 billion for uplift of the Muslim people by providing infrastructure, mainly for education.

"We need infrastructure. Indian Muslims need education and for that we need infrastructure. Currently we lack in infrastructure," Union minister for minority affairs K Rahman Khan said here. 




"We are working on to create a fund of $2-3 billion, which will be around Rs 10,000-15,000 crore. Even if only one per cent of Indian Muslims donate, we will be able to generate this amount," Khan said while delivering the keynote address during a function of American Federation of Muslims of India origin.

He said Muslim people in India have the resources but only need the mechanism to generate and manage the fund.

When asked by when the government is likely to finalize the fund, Khan said "We have been working on this for some time. Now we are going to announce it very soon."

He further said the government is taking all necessary steps to improve the conditions of the Muslims.

"The only priority of Indian Muslims is education. If you are educated, the society can be changed ... Do not think that you are a minority, think that you are the second largest population in India," Khan said.

On utilization of funds by the northeastern states, the minister said the Centre had allocated Rs 700 crore for a multi-sectoral development in the region during the 11th Five-Year Plan.

"Utilization of funds here is very slow. We have had discussions with the chief minister. We urge the state governments to give priority and focus more on utilization," he added.


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Friday, January 9, 2015

Candy Crush developer King thinks its worth 7 6 billion and it probably is

Weve talked before about developer King and its various games. Most often we talk about Candy Crush, because not only is it Kings most popular game, but because King has done some fairly silly things in regards to the game, like trying to assert a trademark on the word "candy". Now, King is getting ready for its initial public offering (IPO), and is hoping for a pretty substantial valuation.

King said today that it is looking for a market value of up to $7.6 billion with its IPO. The game developer wants to sell 22.2 million shares for between $21 and $24 when it goes public. If King hits this target, it would put the developers valuation right in the middle between fellow "casual" game maker Zynga, which is currently valued at $5 billion after considerable drops in its stock price, and Electronic Arts, which is currently valued at about $9.2 billion.

That may seem like quite a large amount for a developer that makes what are essentially knock-off games, but it is important to keep in mind the enormous sums of money that King generates. In 2012, King recorded just $164.4 million in revenue, but that number skyrocketed to $1.88 billion in 2013. Aiming for a valuation equal to four times revenue is actually fairly reasonable, assuming the company can keep up those numbers, which is always tricky as Zynga has shown.

source: WSJ
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