Welcome to the Thursday issue of India Edition; I’m Menaka Doshi . Each week, I bring you a ringside view of the billionaires, businesses and policy decisions behind India’s rise as an emerging economic powerhouse. You can subscribe here , and share feedback with me here . This week: India’s exam nightmare, the future of Dallaspuram, and keeping Indian airlines afloat. ‘They Failed and We Are Suff...
Welcome to the Thursday issue of India Edition; I’m Menaka Doshi . Each week, I bring you a ringside view of the billionaires, businesses and policy decisions behind India’s rise as an emerging economic powerhouse. You can subscribe here , and share feedback with me here . This week: India’s exam nightmare, the future of Dallaspuram, and keeping Indian airlines afloat. ‘They Failed and We Are Suffering for It’ May was a month from hell for 3 million Indian students — already facing a bleak local job market that’s about to be worsened by artificial intelligence. On May 12, Priya’s beach vacation ended with a single text from her father. The nationwide medical entrance exam she’d taken nine days earlier, alongside 2.2 million students, was officially scrapped after a massive question paper leak, the second in three years. The exam had gone well for Priya, and she was confident of a score that would secure her dream college. Until she was told she’d have to do it all over again. “My face turned red with anger and I burst into tears right there on the beach on finding out that my efforts didn’t matter. After I returned, for two weeks I was in bed and could not move even though I knew I’d have to start studying again,” the 19-year-old Mumbai-based student said to me over the phone this week. She’s just started rebuilding her year-long pre-exam study routine. The laser-like focus needed for such a critical exam takes months to build, she said. “I used to study 14 hours a day, now I can barely do six. It’s almost like I gave the paper and I forgot everything I knew. Because I did my job. It was the National Testing Agency’s job to administer the test properly. They failed and we are suffering for it.” Within days of the National Eligibility Cum Entrance Test or NEET being annulled, mass discrepancies were discovered in the results of another pan-India exam — this one run by the Central Board of Secondary Education for twelfth-grade students. A hasty and poorly executed tra...
Welcome to the Thursday issue of India Edition; I’m Menaka Doshi . Each week, I bring you a ringside view of the billionaires, businesses and policy decisions behind India’s rise as an emerging economic powerhouse. You can subscribe here , and share feedback with me here . This week: India’s exam nightmare, the future of Dallaspuram, and keeping Indian airlines afloat. ‘They Failed and We Are Suff...
Welcome to the Thursday issue of India Edition; I’m Menaka Doshi . Each week, I bring you a ringside view of the billionaires, businesses and policy decisions behind India’s rise as an emerging economic powerhouse. You can subscribe here , and share feedback with me here . This week: India’s exam nightmare, the future of Dallaspuram, and keeping Indian airlines afloat. ‘They Failed and We Are Suffering for It’ May was a month from hell for 4 million Indian students — already facing a bleak local job market that’s about to be worsened by artificial intelligence. On May 12, Priya’s beach vacation ended with a single text from her father. The nationwide medical entrance exam she’d taken nine days earlier, alongside 2.2 million students, was officially scrapped after a massive question paper leak, the second in three years. The exam had gone well for Priya, and she was confident of a score that would secure her dream college. Until she was told she’d have to do it all over again. “My face turned red with anger and I burst into tears right there on the beach on finding out that my efforts didn’t matter. After I returned, for two weeks I was in bed and could not move even though I knew I’d have to start studying again,” the 19-year-old Mumbai-based student said to me over the phone this week. She’s just started rebuilding her year-long pre-exam study routine. The laser-like focus needed for such a critical exam takes months to build, she said. “I used to study 14 hours a day, now I can barely do six. It’s almost like I gave the paper and I forgot everything I knew. Because I did my job. It was the National Testing Agency’s job to administer the test properly. They failed and we are suffering for it.” Within days of the National Eligibility Cum Entrance Test or NEET being annulled, mass discrepancies were discovered in the results of another pan-India exam — this one run by the Central Board of Secondary Education for twelfth-grade students. A hasty and poorly executed tra...
Dell Technologies is transforming global artificial intelligence infrastructure by expanding operating margins and securing massive institutional investments.
Dell Technologies is transforming global artificial intelligence infrastructure by expanding operating margins and securing massive institutional investments.
Apollo Global Management is set to hand over the keys of Reno de Medici SpA to its bondholders, as part of a debt restructuring, according to people familiar with the matter. The US private equity firm, the Italian packaging company and a group of holders of its €600 million ($696 million) bonds have aligned on a preliminary deal that will see the debt investors convert part of their exposure into...
Apollo Global Management is set to hand over the keys of Reno de Medici SpA to its bondholders, as part of a debt restructuring, according to people familiar with the matter. The US private equity firm, the Italian packaging company and a group of holders of its €600 million ($696 million) bonds have aligned on a preliminary deal that will see the debt investors convert part of their exposure into a majority equity stake in the business, the people said. The bondholders will also inject new funding to keep the company going, they added, speaking on the condition of anonymity because they’re not authorized to speak publicly. Apollo and noteholders, which include Arini and M&G Investments, had discussed some of the terms over the future control of Reno de Medici, some people familiar with the matter said earlier. Read More: Apollo in Talks Over Reno de Medici Control With Bondholders Reno de Medici, which makes carton-board for packaging solutions using recycled fibers, has been in talks with its creditors for months, after getting hit by high raw material and fixed costs, which in turn have impacted its operational performance. Apollo bought a controlling stake in the business in 2021. It was the first investment of the firm’s Impact platform, which pursues opportunities with a positive social or environmental impact. Debt negotiations will now focus on bringing on board the lenders behind Reno de Medici’s €145 million revolving credit facility, the people said. The banks behind the facility picked Lazard Inc. to advise them in March, joining the negotiations later in the process. Spokespeople for Apollo and Reno de Medici declined to comment. Representatives for Arini and M&G didn’t respond to requests for comment. Reno de Medici’s bonds are currently quoted at a price of around 26 cents on the euro, according to Bloomberg pricing. S&P Global Ratings and Moody’s Ratings downgraded the firm’s credit score at the end of last year, with S&P estimating free cash flow to...