About Arun Kumar N

Arun has been associated with India International Times since 2018 and he has been a key reporter in covering science and space related stories. He can be reached at arunKnn@indiainternationaltimes.com.

Hyundai India Gears Up to Launch Megasize $3 billion IPO, Largest After LIC’s 2 Years Ago

Hyundai Motor India, the country’s second-largest car manufacturer, is reportedly planning to launch a $3 billion Initial Public Offering (IPO) on October 14, 2024. This IPO, if it goes ahead, would be the largest in India after the Life Insurance Corporation’s (LIC) IPO, which was around Rs 21,000 crore. The IPO of Hyundai Motor India Limited will be an offer for sale (OFS), with the company planning to sell 14.2 crore shares, which is around 17.5 per cent of the total shareholding.

The IPO has been approved by the Securities Exchange Board of India (SEBI), the country’s market regulator. However, no official statement has been given by Hyundai regarding the IPO dates. The company’s decision to go public is subject to market conditions, particularly the ongoing conflict between Iran and Israel in the Middle East.

Market Conditions and Geopolitical Tensions

The Indian stock market recently experienced a sharp fall due to Iran’s missile attack on Israel, with both the frontline indices Sensex and Nifty closing down by more than 2 per cent. This was the biggest fall in the stock market in the last two months. The launch of Hyundai Motor India’s IPO could be impacted by unexpected changes in the market due to geopolitical tensions. If the situation escalates, it could affect market stability, which might influence the IPO’s launch date or its success.

Hyundai India is a significant player in the Indian automobile market, holding a market share of around 15 per cent. It is the second-largest car company in the country after Maruti Suzuki. The company has been consistently selling around 60,000 units per month, except for the last few months due to industry-wide slowdown. Nearly one in four Hyundai cars is sold in India now.

Hyundai’s Market Position and Future Prospects

After the listing, Hyundai India’s market cap could be almost half the valuation of its Seoul-listed promoter company Hyundai Motors at $47 billion. The IPO comes at a time when the Indian stock market is witnessing a flurry of public issues. Companies like Swiggy, NTPC Green Energy, and Canara Robeco Asset Management Company are also planning to go public soon.

The surge of retail investors, the resilience of India’s economic growth, and rising optimism about the potential start of a rate-cutting cycle have driven the market on an upward trajectory. However, concerns persist about stretched valuations amid unimpressive quarterly earnings of Indian companies.

Market Plunges as Middle East War Looms, Rs 10 Lakh Crore Wiped Out from Investors

Indian markets were hit hard on Thursday as escalating geopolitical tensions in the Middle East led to a sharp decline in equity indices, wiping out Rs 10 lakh crore in market capitalization.

The benchmark BSE Sensex nosedived 1,769 points (2.10%), closing at 82,497, while the Nifty 50 plunged 546 points (2.12%) to 25,250. This broad sell-off led to significant losses across sectors, with nearly 2,864 stocks ending in the red compared to just 1,120 gaining stocks.

The fallout from the day’s trading session saw the combined market value of all listed companies on the Bombay Stock Exchange (BSE) plummet by Rs 10 lakh crore, dropping to a total of Rs 465 lakh crore.

Broader Market Impact

The rout was not limited to blue-chip stocks, as midcap and smallcap segments also suffered steep losses. The Nifty Midcap 100 index fell by 1,333 points (2.21%) to 59,024, while the Nifty Smallcap index dropped 378 points (1.96%) to 18,952, indicating widespread bearish sentiment.

Sector-wise, almost all major NSE indices were deeply in the red, with Auto, Financial Services, IT, FMCG, Realty, Energy, Private Banks, and Infrastructure taking the hardest hits.

Top losers on the Sensex included L&T, Axis Bank, Tata Motors, Reliance, Maruti Suzuki, Bajaj Finance, Wipro, and Kotak Mahindra Bank. JSW Steel was the only stock to buck the trend, ending in the green.

Geopolitical Tensions and Domestic Factors

According to market analysts, the sharp downturn was primarily driven by the escalating conflict in the Middle East, particularly following Iran’s ballistic missile attacks on Israel. Fears of an intensifying conflict could potentially push up global oil prices, raising inflationary concerns.

Additionally, domestic factors played a role. New SEBI regulations in the Futures and Options (F&O) segment created uncertainty, leading to concerns over reduced trading volumes and liquidity. With foreign institutional investors (FIIs) also shifting their focus to more attractively valued markets such as China, the pressure on Indian stocks increased.

On October 1, FIIs sold equities worth Rs 5,579 crore, while domestic institutional investors (DIIs) purchased Rs 4,609 crore worth of equities, offering some support to the market.

Future Scenario

Market experts warn of further volatility in the coming days. The escalating Middle East conflict could cause oil prices to rise further, adding to inflationary pressures that could weigh on the Indian economy. At the same time, domestic factors, including SEBI regulations and foreign fund outflows, will continue to impact market sentiment.

With global geopolitical and economic uncertainties mounting, investors are bracing for a turbulent period in the markets.

Devara: How Box Office Analysis of Similar Themed Films Show Future Trend?

Devara: Part 1, the latest action epic starring Jr NTR and Janhvi Kapoor, has made a significant impact at the box office, amassing Rs 353.24 crore globally within just six days of its release. Directed by Koratala Siva, the film has enjoyed a strong boost in collections, particularly on its first Wednesday, due to the national holiday on Gandhi Jayanti.

Commenting on the boost in film’s business due to Gandhi Jayanti, film critic and trade analyst Taran Adarsh said: “BIZ JUMPS ON WEDNESDAY… A national holiday can significantly impact box office numbers, provided the film has merits… The Jr NTR-starrer Devara makes a big splash on Wednesday, capitalising on the Gandhi Jayanti holiday, further solidifying its status.”

Day-Wise Performance Comparison

Devara saw an exceptional start, earning Rs 154.36 crore on its opening day, followed by Rs 61.24 crore on Day 2, and Rs 63.51 crore on Day 3, maintaining strong weekend momentum. However, post-weekend, the film’s collections dipped slightly, with Rs 24.70 crore on Day 4, Rs 19.16 crore on Day 5, before jumping again to Rs 30.27 crore on the Gandhi Jayanti holiday. This spike can be attributed to the public holiday boost, which often plays a key role in propelling collections for films with strong public appeal.

The film saw stellar opening weekends, with rapid surge in its first week. If this pace continues, Devara could surpass other regional films like Vikram’s total in just a couple of weeks.

One key aspect of Devara’s box office strategy is its multi-language release, which saw it simultaneously hitting theatres in Telugu, Hindi, Tamil, Malayalam, and Kannada. Devara has made significant inroads into the Hindi market, earning Rs 45.87 crore by its first Wednesday, with a broader appeal that allows it to tap into multiple regional audiences. However, it’s worth noting that despite Devara’s Hindi version picking up steam, the bulk of its earnings still come from the Telugu-speaking regions.

The Role of Star Power and Holiday Boost

Jr NTR’s double role and Janhvi Kapoor’s Telugu debut have been major draws for Devara, giving it a strong advantage at the box office. The Gandhi Jayanti holiday saw a major boost for Devara, with box office analyst Taran Adarsh emphasizing the film’s potential to capitalize on national holidays, provided the content resonates with the audience.

Looking ahead, Devara is expected to see a slight drop in collections post-Wednesday, with a possible rebound over the weekend. The film’s long-term success will depend on sustaining momentum beyond its initial surge, a challenge that Jr NTR’s earlier film RRR managed with its prolonged run.

In just six days, Devara has raced to Rs 353.24 crore, putting it on track to garner the Rs 414.43 crore-mark next few days. If Devara continues its strong run in the third week, with high expectations riding on its star cast and action-packed storyline,  the weeks ahead show how future films make headways into profitable ventures.

Tragic School Bus Fire In Thailand Sparks Debate On Stringent Safety Measures

In a horrifying incident that unfolded on the outskirts of Bangkok, Thailand, a school bus carrying students and teachers on a field trip caught fire. The tragic event, which occurred on October 1, 2024, has left an estimated 25 people feared dead and 16 passengers hospitalized.

The incident has sent shockwaves through the nation and the international community, triggering debate on the importance of stringent safety measures in school transportation everywhere.

The bus was transporting students and teachers from the province of Uthai Thani, located approximately 250 km (155 miles) north of the capital, Bangkok. The exact cause of the fire remains under investigation, according to Transport Minister Suriya Juangroongruangkit. The minister also confirmed that 16 students and three teachers were sent to a hospital for treatment.

The horrifying scene was captured in early images posted on social media and carried by local news outlets, showing thick grey smoke pouring out of the bus, parts of which were still ablaze. Firefighters later managed to extinguish the fire.

A Reuters photographer at the scene reported seeing fire trucks, police, and rescue vehicles parked around the blackened vehicle, with a cluster of firefighters at the entrance.

PM Shinawatra condoles

Thailand Prime Minister Paetongtarn Shinawatra expressed her condolences in a social media post, stating, “As a mother, I would like to express my deepest condolences to the families.” The Prime Minister also confirmed that the students were on a field trip from Uthai Thani province. She assured that the government would take care of the medical expenses and provide compensation to the families of the deceased.

Rescue group Hongsakul Khlong Luang 21, in a post on its Facebook page, reported finding at least 10 bodies on the bus. The students and teachers belonged to the Wat Khao Phraya School, according to a report by Reuters.

Similar incidents elsewhere

This tragic incident is not a sole example. In November 2023, a bus carrying high school students was involved in a deadly crash on westbound Interstate 70 in Licking County, Ohio. The bus was carrying students and chaperones from the Tuscarawas Valley Local School District in eastern Ohio, who were headed to perform at an educational conference.

In another incident in August 2023, wildfires in Maui, Hawaii, claimed 67 lives, with some residents alleging that they were not sufficiently warned through emergency alerts as the crisis deepened. This incident, similar to the school bus fire in Thailand, called for the importance of effective emergency response systems and the need for stringent safety measures, particularly when it involves the transportation of children.

As the nation mourns the loss of young lives, it is hoped that the incident will lead to a thorough review of safety measures and protocols, particularly in school transportation, to prevent such tragedies in the future.

NEET Row: Bengal Assembly passes resolution on scrapping of NEET; Karnataka next?

On Wednesday, the West Bengal Assembly passed a resolution, introduced by the ruling Trinamool Congress, demanding the abolition of the National Eligibility cum Entrance Test (NEET) and advocating for the return to state-level entrance exams. This move positions West Bengal as the second state, after Tamil Nadu, to formally call for the scrapping of NEET.

This resolution follows recent incidents of NEET paper leaks across the country. Prior to the motion, West Bengal Chief Minister Mamata Banerjee had written to Prime Minister Narendra Modi, urging the same change.

With the passage of this motion, the West Bengal Treasury Bench has officially documented its opposition to NEET. Education Minister Bratya Basu reiterated that his party has consistently opposed NEET due to its nationwide scope, arguing that it undermines the federal structure of the country.

Previously, in 2021, the DMK government in Tamil Nadu had passed legislation seeking exemption from NEET, with Chief Minister MK Stalin calling the exam as discriminatory and disadvantageous to rural aspirants aspiring to pursue medical careers. A similar attempt was made by the AIADMK government under Edappadi K Palaniswami, but the bill failed to receive presidential approval in 2017.

Meanwhile, the Central Bureau of Investigation (CBI) has initiated investigations into multiple alleged irregularities and instances of paper leaks in the NEET-UG 2024 exams, lodging six FIRs so far.

Karnataka Next?

 

Meanwhile, the Karnataka Cabinet, led by Chief Minister Siddaramaiah, approved a resolution on Monday to abolish the National Eligibility-cum-Entrance Test (NEET) in the state, proposing a new entrance exam for undergraduate and postgraduate medical students.

During a late-night session, the Cabinet also approved two additional resolutions: one addressing the delimitation of state legislative assemblies and Lok Sabha constituencies, and another opposing the ‘One Nation, One Election’ concept. It will be taken up by the current legislative session next.

This move comes amid increasing concerns about NEET. Last week, Deputy Chief Minister DK Shivakumar urged the central government to scrap NEET and allow states to conduct their own entrance examinations.

“The irregularities in the NEET exam are serious. It is a question of the future of lakhs of students. The Centre must scrap NEET and allow states to conduct their own entrance tests. Students from across the country can participate in the tests conducted by states,” Shivakumar stated.

He also highlighted the negative impact on Karnataka students, saying, “Injustice is being meted out to the students from Karnataka. Karnataka has built colleges, but it is benefitting students from North India and depriving its own students. We have to fight unitedly against this. The Centre must conduct an inquiry into the NEET exam irregularities.”

 

 

Ola Electric slashes prices for S1 X line of e-scooters

Ola Electric has unveiled new pricing structures for its S1 X line of e-scooters, alongside details regarding delivery. The S1 X series, available in three battery variants – 2 kWh, 3 kWh, and 4 kWh, will now be priced at Rs 69,999 (introductory offer), Rs 84,999, and Rs 99,999, respectively. Deliveries are slated to commence next week.

A spokesperson from Ola stated, “Our revised pricing for the S1 X series addresses the significant upfront costs associated with electric vehicle (EV) ownership, a key hurdle in wider EV adoption. With competitive pricing across our S1 X range, catering to various consumer segments, we anticipate a substantial increase in EV adoption nationwide.”

Additionally, Ola revealed updated prices for the S1 Pro, S1 Air, and S1 X+, now available at Rs 1,29,999, Rs 1,04,999, and Rs 84,999, respectively. The S1 X e-scooters boast an IDC-certified range of 190 km, 143 km, and 95 km for the 4 kWh, 3 kWh, and 2 kWh models, respectively.

Driven by a 6kW motor, the scooter accelerates from 0 to 40 km/h in 3.3 seconds, reaching a maximum speed of 90 km/h in the 4 kWh and 3 kWh models, and 85 km/h in 4.1 seconds for the 2 kWh variant, according to company specifications.

Featuring three riding modes – Eco, Normal, and Sports, riders can seamlessly transition between them based on their preferences and requirements.

Sensex down by 300 points, Israel’s return attack fears grip markets

BSE Sensex is down by more than 300 points on Tuesday after a plunge of 845 points on Monday, continuing the declining trend amid concerns about general elections, geopolitical factors, and uncertainty in the markets.

Sensex is trading at 73,040 points, down by 358 points. Sensex is on the verge of falling below the 73K mark if the weakness persists. IT and financials are trading weak with Infosys, Bajaj Finserv, Indusind Bank, Ultratech Cement, L&T down more than 1 per cent.

Analysts expect economic and geopolitical issues to continue to weigh on markets in the near term. The economic factor is the rising US bond yields which reduces the prospects of rate cuts by the Fed this year. High bond yields are negative for risky assets like equity and will accelerate FII selling in emerging markets like India, they said.

Essentially the market is more concerned about the geopolitical issue.

Israel military chief vowed that “there will be a response to Iran’s attack on Israel” and it has increased the probability of escalation of tensions in the Middle East, evolving into a bigger scale.

As investors seek to wait and watch the developments. high quality large-caps are on corrections to make them fair. Large-caps in banking, IT, autos, capital goods, oil & gas and cement are advised as ideal for long-term investment, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said.

EVM Issue: Supreme Court bench to hear petitions seeking full implementation of VVPATs

A panel comprising Justices Sanjiv Khanna and Dipankar Datta is set to address all concerns regarding Electronic Voting Machines (EVMs) during a hearing scheduled for April 16, 2024.

Tomorrow, the Supreme Court will review a series of petitions advocating for the implementation of Voter Verifiable Paper Audit Trail (VVPAT) to cross-verify votes. VVPAT offers an independent mechanism for voters to ensure the accuracy of their votes by generating a paper slip that confirms their selections. These slips, securely sealed, can be accessed in case of disputes.

In anticipation of the upcoming seven-phase Lok Sabha elections beginning on April 19, the Supreme Court is poised to examine crucial matters regarding EVMs and VVPAT.

Earlier, the Supreme Court had deferred hearing the plea filed by the NGO Association for Democratic Reforms (ADR) and other related matters. Advocate Prashant Bhushan had urged an expedited hearing on April 3.

Now, ADR has petitioned the Supreme Court to direct the Election Commission and the Central Government to ensure voters can verify that their votes have been accurately recorded through VVPATs. The plea aims to align the EVM count with verifiably cast votes and guarantee that voters can confirm their selections via VVPAT slips.

Additionally, the petition underscores the importance of voters verifying that their choices have been accurately registered, which is partially addressed by the brief display of VVPAT slips after pressing the EVM button.

Justices Sanjiv Khanna and Dipankar Datta’s panel, unable to address previous EVM-related pleas, will now consider all petitions during Tuesday’s session. Both petitions will be on the docket for today’s hearing.

On April 1, the Supreme Court sought responses from both the Election Commission of India and the central government regarding activist Arun Kumar Agrawal’s plea for a comprehensive count of VVPAT slips in elections, challenging the current practice of sampling only five randomly selected EVMs per assembly segment.

Bitcoin Future: What happens If The Cryptocurrency Creator Satoshi Nakamoto’s Identity Is Revealed?

The enigmatic figure behind Bitcoin’s creation, known as Satoshi Nakamoto, has captivated the imagination of the cryptocurrency community since the inception of Bitcoin. The potential unveiling of Nakamoto’s identity has spurred intense speculation and debate, prompting considerations about the ramifications for Bitcoin’s future.

Satoshi Nakamoto, the pseudonymous individual or group responsible for birthing Bitcoin, remains a mystery to this day. Despite numerous inquiries and investigations, the true identity behind this alias remains elusive. Nakamoto’s presence was notably active during Bitcoin’s genesis, with contributions ceasing around 2010, leaving behind a legacy veiled in anonymity.

The Elusive Bitcoin Holdings Estimates suggest that Satoshi Nakamoto may possess approximately 1.1 million BTC, though precise figures estimate it to be much lower. These holdings, valued between $43 billion to $80 billion, are presumed to be amassed from early mining rewards. However, verifying Nakamoto’s ownership with absolute certainty remains an insurmountable challenge.

Researchers at The University of New Mexico find digital cryptocurrency Bitcoin is more comparable to the impacts of extracting and refining crude oil than mining gold./CREDIT:
University of New Mexico

To unmask the mysterious identity, numerous endeavors have come into vogue to uncover Satoshi Nakamoto’s identity, alongside claims from individuals purporting to be the elusive creator. Recent legal proceedings involving Craig Wright in the UK brought renewed attention to this quest. Despite Wright’s assertions, a UK High Court ruled decisively against his claim to be Nakamoto, affirming the prevailing mystery surrounding Bitcoin’s originator.

Implications for Bitcoin and the Market The hypothetical unmasking of Satoshi Nakamoto raises questions about Bitcoin’s future trajectory. Gady Kohanov, founder of BitcyClub, underscores the intentional obscurity surrounding Nakamoto’s identity as integral to Bitcoin’s allure and adoption.

“Poking the bear often leads to undesirable consequences,” warned Kohanov. “If the veil of secrecy surrounding Bitcoin’s creator is lifted, it could shatter the idealized image that many hold of the cryptocurrency,” he added. It could potentially undermine Bitcoin’s perceived security and appeal, disrupting investor confidence and leading to market volatility, he insisted.

Kohanov anticipates two plausible outcomes if Nakamoto’s identity were disclosed. Firstly, the mystique surrounding Bitcoin could diminish, tarnishing its reputation and eroding investor trust. Secondly, the unveiling could trigger market instability, potentially resulting in significant losses for existing investors.

 

 

SpaceX Launches Double Satellite, Deploys 46 Satellites in Record Time; Crew to Return Tomorrow [Watch Live]

US private space agency SpaceX completed the flawless deployment of 46 Starlink internet satellites into low-Earth orbit within a span of just six hours on Monday, heralded as the Elon Musk-owned firm’s reusable Falcon 9 rocket embarked on its mission from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station in Florida.

SpaceX and NASA are targeting as early as Monday, March 11 at 11:05 a.m. ET for Dragon to autonomously undock from the International Space Station. After performing a series of departure burns to move away from the space station, Dragon will conduct multiple orbit-lowering maneuvers, jettison the trunk, and re-enter Earth’s atmosphere for splashdown off the coast of Florida almost 19 hours later at approximately 5:50 a.m. ET on Tuesday, March 12.

Live webcast coverage of Crew-7’s return to Earth will begin on X @SpaceX about 15 minutes prior to undocking.

Watch live.

Aboard the spacecraft will be Crew-7 NASA astronaut Jasmin Moghbeli, ESA astronaut Andreas Mogensen, JAXA astronaut Satoshi Furukawa, and Roscosmos cosmonaut Konstantin Borisov, who flew to the space station on Dragon when Falcon 9 launched the spacecraft from Launch Complex 39A (LC-39A) at Kennedy Space Center in Florida on Saturday, August 26.

The company confirmed in an official statement that the first batch of 23 satellites blasted off at 4:35 am IST, marking the 11th successful flight for the first-stage booster. Notably, this booster has previously supported missions such as Crew-5 and GPS III Space Vehicle 06. Shortly after liftoff, the Falcon 9’s first stage returned to Earth, executing a flawless vertical landing on the SpaceX drone ship “Just Read the Instructions” in the Atlantic Ocean.

SpaceX launches 60 Starlink satellites June 3, 2020 / SpaceX

SpaceX confirmed the deployment of the initial 23 Starlink satellites via Twitter approximately an hour after liftoff.

Subsequently, the second set of 23 Starlink satellites launched at 9:39 am Indian time, marking the 17th flight for its first stage booster. This booster has a notable history, having supported missions like Sentinel-6 Michael Freilich and DART. Following separation, the first stage is slated to land on the droneship “Of Course I Still Love You” stationed in the Pacific Ocean.

These accomplishments come on the heels of SpaceX’s recent launch of 23 Starlink satellites. With over 5,000 operational Starlink satellites currently in orbit and approval to launch up to 12,000, SpaceX continues to push the boundaries of satellite internet connectivity.

In 2024 alone, SpaceX has already completed 22 orbital missions, with plans to conduct a staggering 144 launches by year’s end.

Manipur: What triggered ethnic violence in the North-Eastern state?

India’s parliament faced continuous disruption and now women’s groups are planning nationwide protests following a sexual assault and indecent parade of women during the beginning of ethnic clashes in Manipur state.

The violence, which erupted on May 3, has so far resulted in at least 125 fatalities and displaced over 40,000 individuals in Manipur. The clashes originated when the Kuki tribal group clashed with the Meitei, the ethnic majority, over the distribution of economic benefits and quotas meant for the tribes.

Despite a heavy presence of Central police forces in the state  with a population of 32 lakhs,  sporadic violence and killings have kept the state tense. Recently, videos showing women being molested in May emerged, sparking national outrage and women organisations hitting the streets in protests all over the country.

The root cause of the Manipur violence can be traced back to May 3 when the Kuki and Naga tribes, classified as Scheduled Tribes or India’s most disadvantaged groups, protested against the potential extension of reservations and other benefits to the dominant Meiteis in the state. The Meiteis, who constitute half of Manipur’s population, had been seeking special benefits for over a decade.

Manipur High Court verdict

Their cause gained momentum in April after the Manipur High Court endorsed their demand, setting a mid-May deadline for the government to consider it. Granting limited affirmative action quotas to the Meiteis would allow them to access educational and government job opportunities reserved for Kukis and Nagas.

The Meiteis have historically inhabited Manipur’s prosperous valley region, comprising only 10% of the state’s area, giving them better access to employment and economic opportunities. On the other hand, the Nagas and Kukis reside in poorly developed hills, leading to a development imbalance and fueling contention and rivalry between the ethnic groups.

Triggers for the violence include unrelated events that exposed old fault lines. The 2021 coup in Myanmar forced thousands of refugees into Manipur, creating concerns among Meiteis that they would be outnumbered by the Kuki’s ethnic ties with Myanmar’s Chin tribe.

Eviction of tribals

Moreover, in February, the state government initiated a drive to evict tribal communities from forests in the hills, claiming encroachment on government land. This sparked anger among the tribal groups, who felt forced out of their homes.

Despite the initial suppression of violence in mid-May, sporadic reprisal attacks continued shortly after. Both the Meiteis and Kukis possess arms, including automatic weapons sourced either from the state police or from across the border in Myanmar. Efforts by New Delhi to control armed groups operating from across the border through talks with senior Myanmar leaders have yet to yield results.

Further, the lack of peace stems from the refusal of Kuki and Meitei groups to join a peace panel formed by the federal government, with disagreements over the panel’s composition. Kukis have also accused Chief Minister Biren Singh, a Meitei from the ruling Bharatiya Janata Party, of  inaction, demanding his removal, but the CM has denied these accusations.

(With inputs from agencies)

Capitol rioter Barnett, who posed with feet on Pelosi’s desk, found guilty

Remember the Capitol Hill rioter who posed with his feet propped up atop former House of Representatives Speaker Nancy Pelosi’s desk? Identified as Richard “Bigo” Barnett, the man has been found guilty of all charges finally.

Barnett was among the crowd of thousands of supporters of former President Donald Trump who stormed Congress on January 6, 2021, in an attempt to overturn the 2020 presidential election result, reports the BBC.

Pelosi, the former House Speaker was forced to flee the chamber floor with other lawmakers as the protesters stormed their way into the building.

Armed with a stun gun, Barnett, a former firefigher, posed for photos after breaking into Pelosi’s office and boasted of stealing an envelope before leaving the premises.

He also wrote a note on her desk using a sexist slur, and used a bullhorn to brag to the crowd that “I took Nancy Pelosi’s office”.

On Monday, a jury in Washington D.C. deliberated for less than three hours before convicting the 62-year-old of all eight charges against him, which include obstruction of an official proceeding; entering and remaining in a restricted building or grounds with a deadly weapon; and theft of government property.

Prosecutors argued that Barnett came to Washington D.C. from his home in Arkansas “prepared for violence”.

Barnett, who chose to testify in his own defence during the trial, argued that he was caught up “in the moment” and was “going with the flow”, the BBC reported.

After the verdict was read on Monday, Barnett said he did not get a fair trial because the jury was not made up of his “peers”.

His lawyer, Joe McBride, said he would appeal.

“Washington D.C., is not a state. He’s not surrounded by people of Arkansas, where he came from,” the BBC quoted McBride, referring to the city’s status as a district rather than one of the 50 US states, as saying.

The judge allowed Barnett to remain free until his sentencing hearing on May 3. He is facing decades in federal prison.

Barnett’s trial has been one of the most high-profile to stem from the riot.

Over 940 people have been charged with federal crimes related to the breach and nearly 500 have pleaded guilty so far.

 

 

 

 

‘Varisu’ crosses Rs. 210 Cr in First Week, Rashmika Mandanna thanks ‘Vijay’

Thalapathi Vijay-Rashmika Mandanna-starrer “Varisu” has grossed Rs 210 crore in its first week and is expected to continue its victorious run at the box office.

Following a grand response, Rashmika said: “Looking at the massive love and appreciation being showered on ‘Varisu’ really warms my heart and makes me feel so grateful!”

Directed by Vamshi Paidipally, Rashmika’s performance in the songs ‘Ranjithame’ and ‘Jimikki Ponnu’ has been particularly appreciated by critics and audiences alike.

Rashmika added: “The story and its narrative is such that the moment I heard it, I was sure it would definitely connect with family audiences, so it was an instant ‘yes’ for me. And the cherry on the cake was working with Vijay sir, which was a dream opportunity come true.”

Rashmika is looking at a blockbuster 2023 with four films scheduled to be released, one of them being “Varisu”, across multiple languages. She will also be seen in “Mission Majnu”, “Animal” and another film that is currently under wraps.

Agitating wrestlers meet Sports ministry officials, demand resignation of Brij Bhushan, talks fail

The meeting between the Sports ministry officials and the delegation of four wrestlers, including Bajrang Punia, Vinesh Phogat and Sakshi Malik here on Thursday failed to yield results as protesting grapplers were not satisfied with the response.

Speaking to reporters in Delhi, Bajrang Punia said that they didn’t get any ”satisfactory response” from the ministry and the protest will continue till the Brij Bhushan Sharan Singh-led Wrestling Federation of India (WFI) gets dissolved.

“We not only want the resignation of WFI President Brij Bhushan Sharan, we also demand the federation to be dissolved. If there is only resignation, then it will make its men sit again,” he emphasised.

The 28-year old Bajrang further said that “the whole hub of wrestling is sitting with us and everyone is fighting for their future.

“We have five to six girls with evidence, who are ready to file FIR against the WFI chief on sexual harassment case. If our words are not heard, then we will take the help of the police and also file a case,” the Olympic medallist wrestler said.

Meanwhile, Vinesh, too, slammed Brij Bhushan Sharan, saying “why is he hiding” and “I challenge him to come and speak to me”.

“I am getting calls from several states. And women wrestlers are supporting us in this fight. I got calls from Kerala and other places,” she said.

Rajamouli keen to enter Hollywood? Dream that may come true soon

For those planning a film with Indian director S.S. Rajamouli, this may sound uneasy as he said recently that it’s his dream to work in Hollywood. Currently in Los Angeles, meeting Hollywood honchos, Rajamouli’s dream may come true soon.

Last Monday, his magnum opus ‘RRR’ turned Los Angeles’s colossal TCL Chinese IMAX into a dance party, with hundreds of audience members rushing the screen. On Tuesday, Rajamouli’s epic musical drama won a Golden Globe for Best Original Song, triumphing over such nobodies as Taylor Swift, Rihanna and Lady Gaga.

Later in the week, directors like Steven Spielberg and James Cameron fawned over the filmmaker casually known as ‘SSR’, praising him in public.

“I don’t have words to explain the kind of exhilaration that we are having,” Rajamouli, 49, told EW’s Awardist podcast. “It’s why I make films – to extract that kind of joy, to give that kind of joy to an audience.”

In a wide-ranging conversation, the director touched on his own favourite films, how he cuts an action sequence, and his preference for screenwriting over other phases of production.

Will he come to America to make a movie?

“I think it is the dream of every filmmaker across the world to make a film in Hollywood,” he said. “I am no different. I’m open to experimentation.” But, he also admits, the decision is causing him a “bit of confusion.”

At home, Rajamouli enjoys final cut and an unusual amount of creative power: “Back in India, I am the dictator. No one tells me how to make a film.”

Modestly, he speculates that a Hollywood project might be an opportunity for a co-credit. “Very probably, my first step will be collaborating with someone,” he said.

Elon Musk on selling spree: Puts Twitter statue, 100 other items at HQ on auction

Elon Musk is bent upon squeezing Twitter assets as he has placed hundreds of items from its San Francisco headquarters up for auction online, including the bird statue and other office assets.

In December 2022, after Musk revealed that Twitter spends $13 million a year on food service, and now the company said it will be selling at least 265 kitchen appliances online, and the bidding will start at just $25.


The auction is online on the Heritage Global Partners’ website, the company administering the auction. Even, the company’s neon Twitter Bird light electrical display is currently priced at $22,500 with just under 10 hours left to bid.

A 190 cm planter in the shape of an @ symbol is already fetching $8,000. Moreover, the blue bird statue is currently priced at $20,500.

The auctions also include some of the kitchen appliances, including several high-end La Marzocco espresso machines and a fizzy drink fountain complete with an ice dispenser.

Twitter

The microblogging platform is also offloading a pair of Herman Miller coffee tables, which currently cost $2,200.

Last week, Musk, who failed to pay the rent for Twitter headquarters in San Francisco, asked its remaining staff in Singapore to stop coming to the office and work remotely as the company has reportedly failed to pay the monthly rent.

Twitter has been sued as it failed to pay $136,250 rent for its office space in San Francisco.  Now, the company is planning to shed its co-working spaces in Delhi and Mumbai after Bengaluru and Singapore offices.

2023’s first 15 days see 24K techies fired from jobs: Layoffs.FYI

The year 2023 began on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signaling worse days ahead, said job cuts tracker Layoffs.

About 24,151 tech workers lost their jobs, dominated by companies like Amazon, Salesforce, Coinbase and others, according to layoff tracking website Layoffs.fyi.

layoffs in 2023 so far

Crypto lending exchange Crypto.com last week announced that the company will reduce its global workforce by approximately 20 per cent amid ongoing economic headwinds and unforeseeable industry events.

In India, companies like Ola (which fired 200 employees), voice automated startup Skit.ai, dominated the headlines in January.In December last year, over 17,000 tech employees were shown the door.

According to the website which has been tracking job losses since the start of the pandemic, 153,110 workers were let go in 2022, led by companies like Meta, Twitter, Oracle, Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.

The number of layoffs reached its nadir in November, which saw 51,489 tech workers lose their jobs.

Google is another Big Tech company expected to take harsh steps to reduce its headcount in early 2023. Approximately 6 per cent of Google employees could be sacked over “not having enough impact”, according to a report by The Information.

Google layoffs in 2023 could see as many as 11,000 employees lose their jobs. It means that 2023 is going to become the worst year in the history of the tech world. All eyes are now on the Big Tech quarterly results that will come out at the end of this month.

2022 used smartphone shipments increased by 11.5% worldwide: IDC

The global shipments of used smartphones, including officially refurbished and used smartphones, were estimated to have reached 282.6 million units in 2022, representing an 11.5 per cent increase over the 253.4 million units shipped in 2021, according to the IDC.

This growth is expected to continue, as IDC forecasts that used smartphone shipments will reach 413.3 million units worth $99.9 billion in 2026 with a compound annual growth rate (CAGR) of 10.3 per cent from 2021 to 2026.

“Attractive price points are critical for growth as cost savings remain the primary benefit. However, a high-end inventory struggle due to elongated refresh cycles in the new market has used prices growing over 11 per cent in 2022,” said Anthony Scarsella, research manager.

smartphones

Trade-in programs continue to be the driving factor for the new and used smartphone market globally and in mature markets such as the US, Canada, and Western Europe, trade-in continues to play a significant role in speeding up refresh cycles through telco and retail-driven promotions, said the report.

The increased sale of higher-priced devices in the new market has also created a circular effect as many of these aggressive trade-in deals feature primarily on premium devices.

“How long these aggressive trade-in offers last remains a big question for buyers and sellers. Eventually, narrow margins will impact the overall profits of the channel, vendor, or perhaps both,” the report added.

Miss Universe 2022: R’Bonney Gabriel of USA crowned title

R’Bonney Gabriel from the United States was named the winner of the Miss Universe pageant for 2022 at a ceremony held on January 15 in New Orleans and she was crowned by the previous year’s winner.

Gabriel stood out during the competition, particularly in the final Question-and-Answer round. The final question asked to the three finalists was about how they would work to demonstrate that the Miss Universe organization is empowering and progressive.

Gabriel’s answer of using “fashion as a force for good” and her background in supporting survivors of human trafficking and domestic violence resonated with the judges. A video of this Q&A round was shared on Twitter by the official Miss Universe account.

Gabriel is an instructor and a former high school volleyball player and a graduate of the University of North Texas. She currently holds the position of CEO of her own sustainable clothing line, R’Bonney Nola.

The Miss Universe website also states that as the first Filipino-American to win Miss USA, Ms Gabriel emphasizes the importance of embracing one’s culture and is a strong advocate for diversity and representation in society. She has also been featured in Vogue Philippines. Her goal is for women and young girls to see themselves in her story and to be inspired to achieve their own goals by being proud of who they are.

It’s worth mentioning that the Miss USA has not won the Miss Universe title in the last 11 years. The Dominican Republic placed third in the competition, while Venezuela came in second. India’s Divita Rai, who had made it to the top 16, did not make it to the top 5. A total of 80 contestants competed for the Miss Universe 2022 title.

 

 

Nepal Plane Crash: Yeti Airlines flight with 72 onboard crashes, Nepal PM calls for emergency meeting

At least 16 people have been killed after an aircraft carrying 72 people crashed about 200km from Kathmandu in Nepal.

The twin-engine ATR 72 aircraft by Yeti Airlines took off for Pokhara on Sunday morning with 72 passengers, including two infants, four crew members and 10 foreign nationals, said airline spokesman Sudarshan Bartaula.

“We expect to recover more bodies,” army spokesman Krishna Bhandari told Reuters. Local TV channels showed thick black smoke billowing from the crash site as rescue workers rushed to the scene.

“Responders have already reached there and trying to douse the fire. All agencies are now focused on first dousing the fire and rescuing the passengers,” local official Gurudutta Dhakal said.

Nepal Prime Minister Pushpa Kamal Dahal posted on Twitter, “I am deeply saddened by the sad and tragic accident of Yeti Airlines ANC ATR 72 which was flying from Kathmandu to Pokhara with passengers,” and later called an emergency cabinet meeting.

“I sincerely appeal to the security personnel, all agencies of the Nepal government and the general public to start an effective rescue,” he said.

In May, a plane owned by Tara Air crashed less than 20 minutes after taking off from Pokhara, headed to Jomsom – a trekking destination in Mustang district bordering Tibet.

In 2018, another US-Bangla passenger plane from Bangladesh crashed on landing in Kathmandu, killing 49 of the 71 people on board.