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Satya Nadella-run <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> is in advanced talks to invest in Airbnb-backed Indian budget hotel chain <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> at a valuation of $9 billion, the media reported on Friday. According to a TechCrunch report citing sources, a deal may close soon but the "proposed size of the investment is unclear". Both Microsoft and OYO declined to comment on the reports. The Ritesh Agarwal-run hospitality chain has Airbnb, Chinese ride-hailing giant Didi Chuxing and ride-hailing firm Grab as strategic investors. The news comes after OYO announced earlier this month that it has raised $660 million from global institutional investors as <keyword id="4462417" type="PERSON" weightage="20" keywordseo="tlb">TLB</keyword> (Term Loan B). A company statement had said that the offer was oversubscribed by 1.7 times and the company received commitments of close to $1 billion from leading institutional investors. "We are delighted by the response to OYO's maiden TLB capital raise that was oversubscribed by leading global institutional investors. We are thankful for the trust that they have placed in OYO's mission of creating value for owners and operators of hotels and homes across the globe," said Abhishek Gupta, Group Chief Financial Officer, OYO. The company said it will utilise these funds to retire its past debts, strengthen the balance sheet and other business purposes including investment in product technology, it said. OYO is the first Indian startup to be publicly rated by Moody's and <keyword id="82981" type="CITY" weightage="20" keywordseo="Fitch">Fitch</keyword>, two of the leading international rating agencies. The Microsoft deal "may also involve OYO shifting to use its cloud services," the report mentioned. OYO has aggressively been expanding its operations to several markets including Southeast Asia, Europe and the US in recent years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-shares-price-jump-because-management-sees-a-10-plus-growth/articleshow/84882133.cms">Tech Mahindra shares surge as for the first time in over five years the management sees a 10% plus growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cleartax-major-acquisitions-and-hiring-2021-funding-on-the-way/articleshow/84880048.cms">Clear(Tax) has planned major acquisitions and hiring for this year, in talks with investors to raise funds</a>

Microsoft is in advanced talks to invest in OYO at a valuation of $9 billion, say media reports

The US will conduct a rare second lottery for the H-1B visa to decide on the successful applicants, the USCIS has announced, a move which would provide another chance to hundreds of Indian IT professionals who could not make it in the first random selection. The US Citizenship and <keyword id="361298" type="ORGANIZATION" weightage="20" keywordseo="Immigration-Services">Immigration Services</keyword> (USCIS) said that a decision was taken after determining that the computerised draw of lots for H-1B visas conducted early this year did not give them enough number of Congressional mandated H-1B visas. The H-1B visa, most sought-after among Indian IT professionals, is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. "We recently determined that we needed to select additional registrations to reach the Fiscal Year (FY) 2022 numerical allocations. On July 28, we selected previously submitted electronic registrations using a random selection process," the USCIS said in a statement. "The petition filing period based on registrations selected on July 28 will begin on August 2 and close on November 3. Individuals with selected registrations will have their myUSCIS accounts updated to include a selection notice, which includes details of when and where to file," it said. The move by the USCIS to conduct the second lottery will provide another chance to several applicants, including hundreds of Indian IT professionals, who could not make it in the first random selection. The federal agency said that only those petitioners with selected registrations for FY 2022 are eligible to file H-1B cap-subject petitions. The initial filing period for those with selected registrations for FY 2022 was from April 1, 2021, through June 30, 2021. The USCIS said an H-1B cap-subject petition must be properly filed at the correct service center and within the filing period indicated on the relevant registration selection notice. Online filing is not available for H-1B petitions. Petitioners filing H-1B petitions must do so by paper and must include a printed copy of the applicable registration selection notice with the FY 2022 H-1B cap-subject petition. "Registration selection only indicates that petitioners are eligible to file H-1B cap-subject petitions; it does not indicate that the petition will be approved. Petitioners filing H-1B cap-subject petitions, including those petitions eligible for the advanced degree exemption, must still submit evidence and establish eligibility for petition approval based on existing statutory and regulatory requirements," the USCIS added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-shares-price-jump-because-management-sees-a-10-plus-growth/articleshow/84882133.cms">Tech Mahindra shares surge as for the first time in over five years the management sees a 10% plus growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cleartax-major-acquisitions-and-hiring-2021-funding-on-the-way/articleshow/84880048.cms">Clear(Tax) has planned major acquisitions and hiring for this year, in talks with investors to raise funds</a>

H-1B visa: Another golden chance for Indian professionals, as US preps to conduct a rare second lottery

<keyword id="11751702" type="UNKNOWN" weightage="20" keywordseo="debutant-lovlina-borgohain">Debutant Lovlina Borgohain</keyword> (69kg) assured India of their first boxing medal at the ongoing Olympic Games when she upstaged former world champion Nien-Chin Chen of Chinese Taipei to enter the semifinals here on Friday. The 23-year-old Assam boxer prevailed 4-1 to make the last-four where she will square off against reigning world champion Busenaz Surmeneli of Turkey, who hammered Anna Lysenko in her quarterfinal bout. Borgohain, a two-time world championship bronze-medallist, displayed tremendous calm in the face of a plucky opponent, who had beaten her in the past. She was aggressive to start with, followed it up with a tremendous counter-attacking game and kept her defence tight in the final three minutes to emerge triumphant. The youngster, who was laid low by COVID-19 last year and missed a training trip to Europe because of it, let out a huge scream after the referee raised her hand, pent up emotions finally getting the better of her. India's previous boxing medals have come through <keyword id="30474" type="PERSON" weightage="20" keywordseo="Vijender-Singh">Vijender Singh</keyword> (2008) and M C Mary Kom (2012). Both of them had won bronze medals and Borgohain would look to better that. Earlier, <keyword id="1406187" type="PERSON" weightage="20" keywordseo="Simranjit-Kaur">Simranjit Kaur</keyword> (60kg) lost to Thailand's Sudaporn Seesondee in the pre-quarterfinals to make an early exit from the Games here. The 26-year-old Indian, seeded fourth, went down 0-5 despite a gritty performance. She was impressive in the opening round and seemed to have caught Seesondee on the back-foot with her measured approach, sticking to a counter-attacking strategy. However, the judges ruled unanimously in favour of the <keyword id="32810" type="ORGANIZATION" weightage="20" keywordseo="Thai">Thai</keyword>, causing <keyword id="1969233" type="PERSON" weightage="20" keywordseo="Simranjit">Simranjit</keyword> to be a tad reckless in the second round. The Indian paid for the hyper-aggressive approach in the first few seconds itself when Seesondee managed to connect some eye-catching left hooks. The defensive errors in the second put paid to Simranjit's chances and even though she gave it her all in the third round, it needed nothing short of a demolition job to get over the line. However, that was not to be as she bowed out following a unanimous verdict. The 29-year-old Thai is a two-time world championships medallist and also won a silver in the 2018 Asian Games. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/tokyo-olympics-indias-only-contender-deepika-kumari-reaches-the-quarterfinals-in-womens-archery/articleshow/84880168.cms">Tokyo Olympics: India's only contender Deepika Kumari reaches the quarterfinals in women's archery</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cleartax-major-acquisitions-and-hiring-2021-funding-on-the-way/articleshow/84880048.cms">Clear(Tax) has planned major acquisitions and hiring for this year, in talks with investors to raise funds</a>

Tokyo Olympics: Lovlina Borgohain assures a boxing medal for India by entering semifinals

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Microsoft is in advanced talks to invest in OYO at a valuation of $9 billion, say media reports

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H-1B visa: Another golden chance for Indian professionals, as US preps to conduct a rare second lottery

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Tokyo Olympics: Lovlina Borgohain assures a boxing medal for India by entering semifinals

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