Author Archives: Naresh Kumar

After tariffs, what’s Trump’s next Move? Watch out US dollar weakening

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As the dust begins to settle down on President Donald Trump’s latest tariffs, speculation is growing over his next move. With the dollar as the world’s reserve currency, Trump has powerful tools to pressure allies—credit access, dollar funding, and payment systems, which may be wielded as powerful weapons to subject compliance from foes and allies together.

Deploying these weapons would carry major risks for the U.S. economy and could backfire, but some experts warn they remain on the table if tariffs fail to cut the trade deficit. A weakening US dollar can have wide-ranging effects across global markets, businesses, and consumers. When the dollar loses value against other currencies, imported goods become more expensive for American consumers, increasing the cost of electronics, automobiles, and household products. Inflationary pressures may also rise as businesses pass on higher costs, eroding purchasing power.

On the other hand, a weaker dollar benefits US exporters by making American goods and services more affordable for foreign buyers. This can boost demand for US-made products, potentially leading to increased revenues for companies with international markets. Sectors like manufacturing, agriculture, and tourism often see gains as foreign customers find US goods and destinations more cost-effective.

“I could well imagine Trump getting frustrated and trying to implement wacky ideas, even if the logic isn’t there,” Barry Eichengreen, economics professor at UC Berkeley, told Reuters.

The administration’s apparent goal is to weaken the dollar to rebalance trade, potentially through a Mar-a-Lago Accord—a nod to the 1985 Plaza Accord and Trump’s Florida resort.

Stephen Miran, a Trump adviser, has suggested the U.S. could pressure foreign central banks to strengthen their currencies by leveraging tariffs and security commitments. But analysts say such a deal is unlikely, as higher interest rates would risk recession in Europe and Japan, and China needs a weaker yuan to revive growth.

If currency talks fail, Trump could take more extreme measures, such as restricting foreign access to dollar liquidity. Cutting off Federal Reserve swap lines—vital for global banks in times of crisis—could roil financial markets and hit European, Japanese, and British lenders hardest. Investors and financial markets also react to a weakening dollar in various ways.

US-based investors with holdings in foreign assets may see gains as those investments appreciate in dollar terms. Conversely, foreign investors holding US assets could experience lower returns if the dollar depreciates. The currency’s decline may also impact the bond market, as investors demand higher yields on US Treasury securities to compensate for currency risk.

Though the Fed controls these programs, Trump’s reshuffling of key financial regulators has raised concerns. “It’s no longer unthinkable that this could be used as a nuclear threat in negotiations,” said Spyros Andreopoulos of Thin Ice Macroeconomics.

But such a move could ultimately weaken the dollar’s status as the world’s dominant currency.

Commodity prices often respond significantly to dollar fluctuations. Since key commodities such as oil and gold are priced in US dollars, a weaker dollar generally pushes their prices higher. This can lead to increased costs for businesses that rely on raw materials, further fueling inflationary trends. On the flip side, commodity-producing countries may benefit from stronger revenues as the prices of their exports rise.

Another pressure point is the U.S. payments industry. Visa (V.N) and Mastercard (MA.N) process two-thirds of card transactions in the eurozone. While China and Japan have developed alternatives, Europe remains reliant on U.S. payment networks.

If the White House pressured these firms to cut off services—similar to actions taken against Russia—European consumers would be forced to rely on cash or slow bank transfers. “A hostile U.S. is a huge setback,” said Maria Demertzis of the Conference Board think tank. International trade dynamics can shift as countries reassess their economic strategies in response to currency fluctuations.

Ultimately, a weaker dollar carries both advantages and disadvantages depending on one’s perspective. While US manufacturers and exporters may enjoy competitive benefits, consumers and businesses reliant on imports could face higher costs. Investors must navigate currency risks carefully, and policymakers must balance economic growth with inflation control. The dollar’s movements influence economies worldwide, making its strength or weakness a critical factor in global financial stability.

Weakening Dollar

A weakening US dollar can have wide-ranging effects across global markets, businesses, and consumers. When the dollar loses value against other currencies, imported goods become more expensive for American consumers. Precisely because it takes more dollars to buy the same amount of foreign currency, raising the cost of imported electronics, automobiles, and everyday household products. Inflationary pressures may also increase as businesses pass higher costs on to consumers, reducing purchasing power.

On the other hand, a weaker dollar benefits US exporters by making American goods and services more affordable for foreign buyers. This can boost demand for US-made products, potentially leading to increased revenues for companies with international markets. Sectors like manufacturing, agriculture, and tourism often see gains as foreign customers find US goods and destinations more cost-effective.

Investors and financial markets also react to a weakening dollar in various ways. US-based investors with holdings in foreign assets may see gains as those investments appreciate in dollar terms. Conversely, foreign investors holding US assets could experience lower returns if the dollar depreciates. The currency’s decline may also impact the bond market, as investors demand higher yields on US Treasury securities to compensate for currency risk.

Commodity prices often respond significantly to dollar fluctuations. Since key commodities such as oil and gold are priced in US dollars, a weaker dollar generally pushes their prices higher. This can lead to increased costs for businesses that rely on raw materials, further fueling inflationary trends. On the flip side, commodity-producing countries may benefit from stronger revenues as the prices of their exports rise.

Government policies may force the Federal Reserve respond by adjusting interest rates to stabilize the currency and control inflation. Meanwhile, other central banks might intervene in currency markets to prevent excessive volatility. International trade dynamics can shift as countries reassess their economic strategies in response to currency fluctuations.

 

India’s Employability Up From 33.9% in 2014 to 51.3% in 2024: Skill Development Ministry

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India is experiencing a remarkable transformation in youth employability, with the rate rising from 33.9% in 2014 to 51.3% in 2024, driven by government-led skill development initiatives. As the country with one of the youngest populations in the world, India is harnessing its demographic dividend and positioning itself to become a global skill capital.

Key Government Initiatives

One of the flagship initiatives fueling this growth is the Internship Scheme, which was introduced in the Union Budget 2024-25. This program aims to offer one crore internship opportunities to Indian youth over the next five years, focusing on top 500 companies. These 12-month internships are designed to bridge the gap between academic knowledge and practical industry experience, preparing young Indians for the evolving demands of the workforce.

The pilot phase of this program was launched on October 3, targeting 1.25 lakh internships in the fiscal year 2024-25. Companies participating in the program were selected based on their Corporate Social Responsibility (CSR) contributions, and the scheme functions independently of other government skill development programs. A dedicated portal opened for applications on October 12.

Comprehensive Support for Interns

Interns selected for the Scheme receive financial and logistical support throughout their tenure. Each intern is provided a monthly stipend of ₹5,000, with ₹500 contributed by the company’s CSR fund and ₹4,500 transferred directly by the government to the intern’s Aadhaar-linked bank account. Additionally, a one-time grant of ₹6,000 for incidental expenses is provided when the intern joins. The company covers training costs from its CSR funds, ensuring that interns are well-prepared for the workplace.

Interns are also insured under government schemes, with companies having the option to provide additional accidental coverage. This approach ensures that young professionals are financially supported and protected during their internships, promoting a safe and structured learning environment.

Indian Institute of Skills: Preparing for Industry 4.0

In addition to the internship program, the establishment of the Indian Institute of Skills (IIS) represents a significant effort in preparing India’s youth for Industry 4.0. Opened in Mumbai, the IIS offers training in cutting-edge fields such as factory automation, artificial intelligence, digital manufacturing, mechatronics, and data analytics. These programs are designed to develop an industry-ready workforce that is capable of adapting to modern technological advancements.

Both the Internship Scheme and the IIS are part of a larger government strategy to bolster the employability of India’s youth and equip them with the skills necessary for the future workplace.

 

Sensex Drops 230 Points as Auto and Finance Stocks Weigh on Markets

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Indian equity markets closed lower on Friday, with the Sensex falling by 230 points, or 0.28%, to 81,381, and the Nifty slipping by 34 points, or 0.14%, to 24,964. The decline was primarily driven by a sell-off in financial and auto stocks, alongside weakness in shares of Tata Consultancy Services (TCS).

The banking sector bore the brunt of the downturn, with the Nifty Bank index falling by 358 points, or 0.70%, to 51,172. However, there was some relief in the midcap and smallcap segments. The Nifty Midcap 100 index rose by 276 points, or 0.47%, to 59,212, and the Nifty Smallcap 100 index gained 108 points, or 0.58%, to 19,008.

Sector-wise, IT, pharma, metal, media, energy, infrastructure, commodities, and consumption stocks performed well, while auto, financial services, real estate, private banks, and services were the major laggards.

Among the top gainers in the Sensex pack were HCL Tech, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys, Titan, Wipro, Sun Pharma, L&T, SBI, Bharti Airtel, and Tata Steel. On the other hand, NTPC, Bajaj Finance, UltraTech Cement, Asian Paints, ITC, HDFC Bank, and TCS were the top losers.

Market experts attributed the sideways movement to a lack of strong triggers that could drive the market decisively. An uptick in the US 10-year bond yield, driven by an unexpected rise in US core inflation, and caution ahead of the earnings season contributed to the cautious sentiment. Additionally, ongoing geopolitical tensions led foreign institutional investors (FIIs) to shift their focus toward more affordable markets, impacting domestic liquidity.

FIIs continued to sell off on October 10, offloading equities worth Rs 4,926 crore, while domestic institutional investors (DIIs) extended their buying spree, purchasing shares worth Rs 3,878 crore on the same day.

The markets opened on a negative note earlier in the day, with the Sensex down by 142 points, or 0.17%, to 81,469, and the Nifty down by 36 points, or 0.12%, to 24,960.

Strategic Surge: Indian Auto Sector Sees Record 32 Deals Worth $1.9 Billion In Q3

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The Indian auto sector recorded a remarkable $1.9 billion across 32 deals in the third quarter of 2023, marking the highest level of quarterly deal activity since the fourth quarter of 2021, according to a report by Grant Thornton Bharat. This surge in deals highlights a significant recovery for the sector, driven by strong investments in technology, mergers and acquisitions (M&A), and an increased focus on global partnerships.

The growth was largely propelled by three high-value deals totaling $300 million, a sharp increase compared to the previous quarter, which saw only one $100 million deal. The most notable investment was WestBridge Capital’s $200 million infusion into Rapido, a clear sign of the growing investor confidence in the sector.

Mergers and acquisitions in the auto sector saw a considerable boost, with six deals worth $74 million in Q3, representing a 20% rise in deal volumes and a 30% increase in value compared to Q2. This uptick reflects the sector’s ability to recover from the global pandemic and signals an increasing focus on international collaborations. Notably, outbound M&A activity grew, with two key deals centered on auto components and electric vehicle (EV) infrastructure, indicating a shift towards technological innovation and global expansion.

Increased Focus on Auto-Tech and Components

The report also pointed to a growing investor interest in auto-tech and auto-component subsectors. This shift towards technological advancement, particularly in EVs and automation, resulted in a 30% increase in deal values compared to the previous quarter. The industry’s recovery, following a 67% decline in Q2, underscores its resilience and adaptability to shifting market demands.

The report further highlighted the growing concentration of high-value deals. The top two investments in the quarter accounted for 55% of total private equity (PE) deal value, reflecting increased investor confidence in the auto sector’s long-term potential. The average deal size also jumped to $25 million, up from $18 million in the second quarter, showcasing the rising interest in larger, more strategic investments.

The Indian auto sector’s record deal activity in Q3 reflects its growing attractiveness as an investment destination. With a strong focus on innovation, global partnerships, and long-term growth, the industry is poised for sustained expansion. As the sector continues to embrace technological advancements and alternative fuel solutions, its role in the global automotive landscape is set to grow even further.

The resurgence of the Indian auto industry, despite pandemic challenges, highlights its potential for value creation and its pivotal position in the broader economic recovery.

Tirupati Laddu Controversy: Supreme Court Orders Independent SIT Probe Under CBI Supervision

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In a significant development that has caught the attention of millions of devotees worldwide, the Supreme Court of India has ordered an independent Special Investigation Team (SIT) probe into the controversy surrounding the alleged use of animal fat in the preparation of Tirupati laddus. These laddus are a sacred prasadam at the Sri Venkateswara Temple in Tirupati. The probe will be supervised by the Director of the Central Bureau of Investigation (CBI), ensuring a high level of scrutiny and impartiality.

The SIT, as directed by the apex court, will comprise two officers from the CBI, two from the Andhra Pradesh State Police, and a senior official from the Food Safety and Standards Authority of India (FSSAI). This diverse composition of the team is expected to bring a balanced and comprehensive approach to the investigation. The controversy erupted following allegations that substandard ghee containing animal fat was used to prepare the laddus during the previous regime of Jagan Mohan Reddy.

The Allegations and Public Outcry

The allegations were raised by the current Andhra Pradesh Chief Minister N Chandrababu Naidu, leading to a significant public outcry and a subsequent Supreme Court order for an independent SIT probe. The Supreme Court, in its order, clarified that it had not delved into the allegations or counter-allegations and that its decision should not be construed as a reflection on the independence and fairness of the members of the SIT formed by the Andhra Pradesh Police. The Court emphasized that it would not allow the apex court to become a political battlefield.

The Court’s decision to order an independent SIT probe was influenced by the actions of the Andhra Pradesh Chief Minister. The Court criticized Naidu for making public statements about the alleged use of animal fat in the Tirupati laddus before a thorough investigation was conducted. The Court observed that such statements by a high constitutional functionary could affect public sentiment and the investigation’s fairness.

The Court’s Observations and Decision

The Court noted that the Chief Minister made his statement on September 18, even before the FIR was lodged on September 25 and the SIT was constituted the following day. The Court stated, “We are, prima facie, of the view that it was not appropriate on the part of a high constitutional functionary to go public to make a statement which can affect the sentiment of crores of people and when investigation to find out adulterated ghee was used to make laddus was underway.”

Soon, AP Chief Minister responded in a post on X stating, “I welcome the Honourable Supreme Court’s order of setting up SIT, comprising officers from CBI, AP Police and FSSAI to investigate the issue of adulteration of Tirupati laddu.”

The Court’s decision to order an independent SIT probe was also influenced by the need to maintain the investigation’s neutrality and respect for the religious sentiments of devotees. The Court stated, “We do not want this to turn into a political drama because the sentiments of crores of people across the world are involved. Therefore, if there is an independent body, everybody will have confidence.”

No wonder, the Supreme Court’s decision to order an independent SIT probe into the Tirupati laddu controversy is a significant development that underscores the importance of maintaining the sanctity of religious practices and the need for impartiality in investigations involving sensitive issues. The probe’s outcome will be keenly awaited by millions of devotees worldwide, as it will not only shed light on the allegations but also set a precedent for handling similar controversies in the future.

Agni-5: Simple tweet by Indian embassy in China on Mission Divyastra goes viral

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The Indian embassy’s social media post celebrating the successful test flight of the indigenously developed Agni-5 ballistic missile has gone viral, accumulating more than 10,000 likes and 3,000 reposts.

The post, shared on microblogging platform X (formerly Twitter) by the Indian embassy in China, praised the achievement and shared Prime Minister Narendra Modi’s congratulatory message to the Defence Research & Development Organisation (DRDO) scientists.

Prime Minister Modi on Monday hailed Mission Divyastra, the first flight test of homegrown Agni-5 ICBM with multiple independently targetable re-entry vehicle technology (MIRV), terming it a landmark achievement by DRDO scientists.

“Proud of our DRDO scientists for Mission Divyastra, the first flight test of indigenously developed Agni-5 missile with Multiple Independently Targetable re-entry vehicle technology,” he posted on X.

While the Agni-5 missile is a potent ingredient in defence preparedness as it puts India in the select league of nations with ICBM capability, the development of MIRV technology – where the payload contains several warheads, each capable of being aimed to hit a different target, makes India only the sixth country with this technology.

This system is equipped with indigenous avionics systems and high-accuracy sensor packages, which ensure that the re-entry vehicles (warheads) reach the target points within the desired accuracy. The capability is an enunciator of India’s growing technological prowess, sources said.

India’s successful test of the Agni-5 missile with Multiple Independently Targetable Reentry Vehicle (MIRV) technology, dubbed Mission Divyastra, marks a significant milestone in enhancing the nation’s nuclear deterrence capabilities, particularly against adversaries like China. India becomes the sixth nation globally to possess this advanced technology, joining the ranks of the P5 countries (China, France, Russia, the United Kingdom, and the United States).

With a range of 5,000-7,000 km, the Agni-5 missile is specifically aimed at bolstering India’s defense posture against China. Previous successful tests in November 2021 and December 2022 laid the groundwork for this latest achievement. The new MIRV capability allows a single missile to deploy multiple warheads, significantly enhancing India’s strategic capabilities.

Directorate of Revenue Intelligence seizes gold valued at Rs 11.65 crore being smuggled through North-East Borders, 4 held

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11 cases of gold seizures of 121 kg in September 2022by DRI in the North East Corridor.

The recent gold seizures in the North East by Directorate of Revenue Intelligence (DRI) indicate a spurt in smuggling of gold through NE borders of Bangladesh and Myanmar. While the porous borders have been used for smuggling in the past, 11 cases of gold seizures of 121 kg in September 2022alone show that the NE corridor is still extensively being used by smugglers deploying ingenious ways of concealment.

Acting on specific intelligence and in three coordinated interceptions at Patna, Delhi and Mumbai, Directorate of Revenue Intelligence (DRI) seized65.46 kg of foreign origin gold worth Rs 33.40 crore. The gold was consigned from Aizwal to Mumbai in domestic courier consignment. The gold was concealed in gunny bags declared as clothes.

                                                 Pictures exhibiting concealment of foreign origin gold in vehicles

In yet another case of smuggling through the same route, the DRI seized another big haul of smuggled foreign origin gold weighing approximately 23.23 kg and valued at Rs.11.65 crore (approx.) which was being smuggled from Myanmar.Specific intelligence indicated that substantial quantity of foreign origin gold will be attempted to be smuggled from Champhai-Aizawl, Mizoram to Kolkata, West Bengal by carrying/concealing them in vehicle. To interdict the contraband, coordinated action was undertaken on 28th – 29th September 2022.The DRI officers mounted surveillance on the highway connecting Siliguri – Guwahati. Four passengers travelling in 2 suspect vehicles were identified and intercepted. After thorough rummaging of the two vehicles over a period of 2 days, 23.23 Kg gold concealed in the vehicle body in the form of 21 cylindrical pieces, was recovered. The gold in this case was cast in order to fit in the specifically made cavity inside the cross-member metal pipe connecting the right and left rails of chassis behind the rear wheels and suspension in both the vehicles. The recovered gold had been smuggled into India from Myanmar through Zokhawthar border in Mizoram. Four persons have been arrested in the instant case so far.

In another 9 cases in the month, DRI recovered and seized 27 kg smuggled gold form various carriers coming from North-Eastern part of the country to the rest of the country. These series of detections have helped unearth novel modus operandi of smuggling foreign origin gold into India from the North-Eastern part of the country.

Further investigation is in progress.

 

Directorate of Revenue Intelligence foils attempts of gold smuggling, seizes 65.46 kg of gold at Mumbai, Patna, Delhi

Schedule for Assembly Bye-election in Maharashtra, Bihar, Haryana, Telangana, Uttar Pradesh,Odisha

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The Commission has decided to hold the bye-election to fill vacancies in the following Assembly Constituencies of Maharashtra, Bihar, Haryana, Telangana, Uttar Pradesh and Odisha: –

Sl. No. Name of State Assembly Constituency No. & Name
Maharashtra 166-Andheri East
Bihar 178-Mokama
Bihar 101-Gopalganj
Haryana 47-Adampur
Telangana 93-Munugode
Uttar Pradesh 139-Gola Gokrannath
Odisha 46-Dhamnagar(SC)

Schedule for the bye election is as follows:

Schedule for Bye-election for Assembly Constituencies
Poll Events  Schedule

 
Date of Issue of Gazette Notification 7th October, 2022

(Friday)
Last Date of Nominations 14th October, 2022

(Friday)
Date for Scrutiny of Nominations 15th October, 2022

(Saturday)
Last Date for Withdrawal of candidatures 17th October, 2022

(Monday)
Date of Poll 3rd November, 2022

(Thursday)
Date of Counting 6th November, 2022

(Sunday)
Date before which election shall be completed 8th November, 2022

(Tuesday)

 

  1. ELECTORAL ROLLS

The Electoral Rolls for the aforesaid Assembly Constituencies w.r.t 01.01.2022 will be used for these elections.

  1.  ELECTRONIC VOTING MACHINES(EVMs) & VVPATs

The Comission has decided to use EVMs and VVPATs in the bye-elections in all the polling stations. Adequate numbers of EVMs and VVPATs have been made available and all steps have been taken to ensure that the polls are conducted smoothly with the help of these machines.

  1. IDENTIFICATION OF VOTERS

Electoral Photo Identity Card (EPIC) shall be the main document of identification of a voter. However, any of the below mentioned identification documents can also be shown at the polling station:

  1. Aadhar Card,
  2. MNREGA Job Card,
  3. Passbooks with photograph issued by Bank/Post Office,
  4. Health Insurance Smart Card issued under the scheme of Ministry of Labour,
  5. Driving License,
  6. PAN Card,
  7. Smart Card issued by RGI under NPR,
  8. Indian Passport,
  9. Pension document with photograph,
  10. Service Identity Cards with photograph issued to employees by Central/State Govt./PSUs/Public Limited Companies, and
  11. Official identity cards issued to MPs/MLAs/MLCs.
  12. Unique Disability ID (UDID) Card, M/o Social Justice & Empowerment, Government of India

 

  1. MODEL CODE OF CONDUCT

The Model Code of Conduct shall come into force with immediate effect in the district(s) in which the whole or any part of the Parliamentary / Assembly constituency going for election is included, subject to partial modification as issued vide Commission’s instruction No. 437/6/1NST/2016-CCS, dated 29thJune, 2017 (available on the commission’s website).

  1. INFORMATION REGARDING CRIMINAL ANTECEDENTS

Candidates with criminal antecedents are required to publish information in this regard in newspapers and through Television channels on three occasions during the campaign period. A political party that sets up candidates with criminal antecedents is also required to publish information about criminal background of its candidates, both on its website and also in newspapers and Television channels on three occasions.

Commission vide its letter No. 3/4/2019/SDR/Vol. IV dated 16th September, 2020 has directed that the period specified will be decided with three blocks in the following manner, so that electors have sufficient time to know about the background of such candidates:

  1. Within first 4 days of withdrawal.
  2.   Between next 5th– 8thdays.
  3.   From 9th day till the last day of campaign (the second day prior to date of poll)

 (Illustration: If the last date for withdrawal is 10th of the month and poll is on 24th of the Month, the first block for publishing of declaration shall be done between 11th and 14th of the Month, second and third blocks shall be between 15th and 18th and 19th and 22nd of that Month, respectively.)

This requirement is in pursuance of the judgment of the Hon’ble Supreme Court in Writ Petition(C) No. 784 of 2015 (Lok Prahari Vs. Union of India & Others) and Writ Petition(Civil) No. 536 of 2011 (Public Interest Foundation & Ors. Vs. Union of India & Anr.).

This information will also be available on an App titled, ‘know your candidates’.

  1. COVID RELATED ARRANGEMENT DURING BYE-ELECTION-

In view of overall improvement in the situation of COVID country wide and in view of withdrawal of restrictive measure under D M Act by NDMA/SDMA, it has been decided to follow the advisories issued by Ministry of Health and Family Welfare Government of India from time to time.  During the process of bye election, there should be continued focus on the five-fold strategy, i.e. Test-Track-Treat-Vaccination and adherence to COVID Appropriate Behaviour.  The District machinery should effectively monitor COVID situation and enforce the norms of COVID Appropriate Behaviour by prescribing requisite legal/administrative norms.

 

Bathukamma festival: Colourful flower show illuminates India Gate in Delhi [Photos]

Vice President flags off Jaipur Foot team to Syria to provide artificial limbs to amputees

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‘Nothing is more religious than serving the people in need’ says Vice President Jagdeep Dhankhar.

Dhankhar lauds the efforts of Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) for their untiring efforts, Says, ‘BMVSS’ service for humanity reflects India’s civilisational ethos of sharing and caring’.

The Vice President, Shri Jagdeep Dhankhar today said that “there is nothing more religious than serving the people in need” and urged people to give back to society in their capacity.

The Vice President flagged off a team of eight persons from Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) going to Syria to set up an on-the-spot artificial limb (Jaipur Foot) fitment camp. The team will be setting up a camp in Damascus, Syria to provide 600 artificial limbs to amputees in 42 ensuing days.

 

  The Vice President flagging off the team from Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) to Syria to set up an on-the-spot artificial limb (Jaipur Foot) fitment camp from Upa-Rashtrapati Nivas today.

 

Lauding the efforts of BMVSS, Shri Dhankhar said the organisation, by popularising the Jaipur Foot around the world and providing their services free of cost, has demonstrated India’s civilisational ethos of sharing and caring. He said that, as with their other initiatives, the latest effort will also generate enormous good-will for India.

 

Shri Dhankhar complimented the team for their courage to take up the mission in Syria and wished them all success in their endeavours. He also interacted with the team from BMVSS, led by its founder, Shri D.R. Mehta and some of its beneficiaries using the Jaipur foot.

The Vice President interacting with the beneficiaries of Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) using the Jaipur Foot at Upa-Rashtrapati Nivas today.

It is notable that the Prime Minister, Narendra Modi visited one such centre of BMVSS in Philippines in 2017, and the former Vice President, Shri M. Venkaiah Naidu inaugurated a fitment camp of BMVSS in Hanoi, Vietnam in 2019.

$250 Million Siphoned Off in COVID Time Scam: ‘Feeding Our Future’, 47 Suspects Charged by FBI

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Forty-seven suspects have been indicted so far on charges of defrauding a federally funded child nutrition program of more than $250 million, meant for reimbursements for the costs of serving meals to children in need during the COVID-19 pandemic.

The investigators believe few meals were ever provided and accused the defendants of misusing the money to purchase cars, vacations, coastal resort properties, electronics, and other luxury items for themselves. The large-scale scam represents the largest theft of federal funds allocated to pandemic aid to date, said FBI.

At the center of the investigation is a now-closed Minneapolis nonprofit called “Feeding Our Future” and its former founder and executive director, Aimee Bock, who oversaw the scheme and has been indicted on multiple fraud and bribery charges.

FBI agents, along with investigators from the IRS and the U.S. Postal Inspection Service, prepare to execute one of 25 search warrants carried out in the early morning hours of January 20, 2022, as part of the Feeding Our Future fraud investigation / FBI

FBI agents, along with investigators from the IRS and the U.S. Postal Inspection Service, carried out 25 search warrants in the early morning hours of January 20, 2022, as part of the fraud investigation.

Feeding Our Future had served as a sponsor for numerous organizations that signed up to participate in the Federal Child Nutrition Program, administered by the U.S. Department of Agriculture, with states distributing funds locally. Under the program, Feeding Our Future allegedly used its position as a sponsor to engineer a massive fraud scheme.

The charges allege that beginning in early 2020, the organization began recruiting individuals and entities to open fake Federal Child Nutrition Program sites throughout Minnesota., which fraudulently claimed to be serving meals to thousands of children a day within just days or weeks of being formed despite having few—if any—staff and little to no experience serving this volume of meals. In exchange, Feeding Our Future received more than $18 million in administrative fees it was not entitled to.

Feeding Our Future employees also allegedly solicited and received bribes and kickbacks from the individuals and companies it sponsored. Many of these kickbacks were paid in cash or disguised as “consulting fees” to shell companies. In total, Feeding Our Future opened more than 250 sites throughout Minnesota between March 2020 and January 2022 and falsely claimed to have served 125 million meals.

How the defendants perpetrated the fraud:

  • Conspirators submitted a fake attendance roster of 2,040 children who attended one of the sponsor’s afterschool programs during the pandemic but only 20 names matched.
  • One site claimed to serve 2,000 to 3,000 meals per day, seven days a week, from a restaurant that previously had only a few dozen customers a day and $500-$600 in daily sales the previous year.
  • One roster was created using names from a website called listofrandomnames.com. Because the program only reimbursed for meals served to children, other defendants used an Excel formula to insert a random age between 7 and 17 into the age column. In some reports, the names of the children would stay the same, but their ages would change.

More than 250 law enforcement personnel took part in executing the search warrants and then the evidence was brought to the FBI Minneapolis Field Office, where the FBI’s forensic accountants untangled the scheme.

During a news conference announcing the charges, FBI Special Agent in Charge Michael Paul said, “During this investigation, the FBI followed many trails—including both money trails and paper trails—filled with falsified invoices and receipts, fictitious names, and an inconceivable number of meals allegedly served, all representing an astonishing display of deceit and evidence of outright fraud.”

To date, the FBI and its law enforcement partners have conducted more than 100 search warrants, completed an additional 100 seizure warrants, and reviewed more than 1,000 bank accounts.  The 18-month long investigation was extremely complex, but the crime was quite simple. “It was just a massive fraud scheme,” said Paul.

The government so far has been able to recover $50 million from 60 bank accounts, 45 pieces of property, and numerous vehicles and additional items, such as electronics and high-end clothing.

 

Frozen embryo transfers linked with high blood pressure risks in pregnancy; What is sibling comparison?

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In vitro fertilization (IVF) using frozen embryos may be associated with a 74% higher risk of hypertensive disorders in pregnancy, according to new research published today in Hypertension, an American Heart Association journal.

In comparison, the study found that pregnancies from fresh embryo transfers – transferring the fertilized egg immediately after in vitro fertilization (IVF) instead of a frozen, fertilized egg – and pregnancy from natural conception shared a similar risk of developing a hypertensive disorder.

High blood pressure during pregnancy often signals preeclampsia, a pregnancy complication including persistent high blood pressure that can endanger the health and life of the mother and fetus. Approximately 1 out of every 25 pregnancies in the United States results in preeclampsia, according to the American Heart Association.

One IVF treatment process available utilizes frozen embryos: after an egg is fertilized by sperm in the lab, it is frozen using a cryopreservation process before being thawed and transferred to the uterus at a later date. The procedure is becoming more common because of the significantly improved freezing technology or cryopreservation methods that started in the late 2000s and because more patients are choosing to freeze embryos, according to the study authors. Yet, frozen embryo transfer is known to be associated with a higher risk of hypertensive disorders in pregnancy than both natural conception and fresh embryo transfer. However, prior to this study, it was unknown whether this was due to the freezing process or a risk factor from the parents.

“Frozen embryo transfers are now increasingly common all over the world, and in the last few years, some doctors have begun skipping fresh embryo transfer to routinely freeze all embryos in their clinical practice, the so-called ‘freeze-all’ approach,” said Sindre H. Petersen, M.D., the study’s lead author and a Ph.D. fellow at the Norwegian University of Science and Technology in Trondheim, Norway.

Researchers examined national data from medical birth registries from Denmark, Norway and Sweden of nearly 2.4 million women who were ages 20 to 44 years old who had single deliveries and gave birth during the study period – from 1988 through 2015. These data were the basis of a population-based study that also included a comparison of women who had both an IVF pregnancy and a naturally conceived pregnancy, called sibling comparison. This approach was used to isolate if the potential reason for the hypertensive disorders was attributable to parental factors or to the IVF treatment.

pregnant lady/Commons.wikimedia.org

The study included more than 4.5 million pregnancies, of which 4.4 million were naturally conceived; more than 78,000 pregnancies were fresh embryo transfers; and more than 18,000 pregnancies were frozen embryo transfers. Among all of the pregnancies, more than 33,000 were grouped for sibling comparison – mothers who conceived via more than one of these methods. The study is the largest to-date using sibling comparison. The odds of developing hypertensive disorders in pregnancy after fresh vs. frozen embryo transfers compared to natural conception were adjusted for variables such as birth year and the mother’s age.

“In summary, although most IVF pregnancies are healthy and uncomplicated,” Petersen said. “This analysis found that the risk of high blood pressure in pregnancy was substantially higher after frozen embryo transfer compared to pregnancies from fresh embryo transfer or natural conception.”

Specifically, the study found:

  • In the population analysis, women whose pregnancy was the result of a frozen embryo transfer were 74% more likely to develop hypertensive disorders in pregnancy compared to those who conceived naturally.
  • Among women who had both a natural conception and an frozen embryo transfer IVF conception (the sibling comparison), the risk of hypertensive disorders in pregnancy after frozen embryo transfer was twice as high compared to pregnancies from natural conception.
  • Pregnancies from fresh embryo transfer did not have a higher risk of developing hypertensive disorders compared to natural conception, neither in population level analysis nor in sibling comparisons.

“Our sibling comparisons indicate that the higher risk is not caused by factors related to the parents, rather, however, that some IVF treatment factors may be involved,” Petersen said. “Future research should investigate which parts of the frozen embryo transfer process may impact risk of hypertension during pregnancy.”

Among other findings, women in the study who gave birth after IVF pregnancies were average age 34 years for frozen embryo transfer, 33 years for fresh embryo transfer and 29 years for those who conceived naturally. About 7% of babies conceived from frozen embryo transfer were born preterm (before 40 weeks gestation) and 8% of babies after fresh embryo transfer were born preterm, compared to 5% of babies after natural conception.

In addition to preeclampsia, the researchers defined hypertensive disorders in pregnancy as a combined outcome, including gestational hypertension, eclampsia (the onset of seizures in those with preeclampsia) and chronic hypertension with superimposed preeclampsia.

One limitation of the study was the lack of data on the kind of frozen embryo cycle, so they were not able to pinpoint what part of the frozen cycle or frozen transfer may contribute to the higher risk of hypertensive disorders. Another limitation is that data from Scandinavian countries may limit generalizing the findings to people in other countries.

“Our results highlight that careful consideration of all benefits and potential risks is needed before freezing all embryos as a routine in clinical practice.  A comprehensive, individualized conversation between physicians and patients about the benefits and risks of a fresh vs. frozen embryo transfer is key,” said Petersen.

 

 

PM greets people on the auspicious occasion of Navratri; Wishes happiness, prosperity, health

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The Prime Minister, Narendra Modi has greeted people on the auspicious occasion of Navratri. On the beginning of Navratri, Modi also prayed to Goddess Shailaputri and wished happiness, health and fortune the grace of the goddess.

In a series of tweets, the Prime Minister tweeted;

“शक्ति की उपासना के महापर्व नवरात्रि की आप सभी को बहुत-बहुत शुभकामनाएं। आस्था और विश्वास का यह पावन अवसर हर किसी के जीवन में नई ऊर्जा और नए उत्साह का संचार करे। जय माता दी!”

“वन्दे वाञ्छितलाभाय चन्द्रार्धकृतशेखराम्‌।

वृषारूढां शूलधरां शैलपुत्रीं यशस्विनीम्‌ ।।

देवी शैलपुत्री की आराधना के साथ आज से नवरात्रि का शुभारंभ हो रहा है। मेरी कामना है कि उनकी कृपा से हर किसी का जीवन सुख, सौभाग्य और आरोग्य से परिपूर्ण हो।”

 

Even Viruses may have “eyes and ears” on us: New UMBC research

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New UMBC-led research in Frontiers in Microbiology suggests that viruses are using information from their environment to “decide” when to sit tight inside their hosts and when to multiply and burst out, killing the host cell. The work has implications for antiviral drug development.

A virus’s ability to sense its environment, including elements produced by its host, adds “another layer of complexity to the viral-host interaction,” says Ivan Erill, professor of biological sciences and senior author on the new paper. Right now, viruses are exploiting that ability to their benefit. But in the future, he says, “we could exploit it to their detriment.”

Not a coincidence

The new study focused on bacteriophages—viruses that infect bacteria, often referred to simply as “phages.” The phages in the study can only infect their hosts when the bacterial cells have special appendages, called pili and flagella, that help the bacteria move and mate. The bacteria produce a protein called CtrA that controls when they generate these appendages. The new paper shows that many appendage-dependent phages have patterns in their DNA where the CtrA protein can attach, called binding sites. A phage having a binding site for a protein produced by its host is unusual, Erill says.

Even more surprising, Erill and the paper’s first author Elia Mascolo, a Ph.D. student in Erill’s lab, found through detailed genomic analysis that these binding sites were not unique to a single phage, or even a single group of phages. Many different types of phages had CtrA binding sites—but they all required their hosts to have pili and/or flagella to infect them. It couldn’t be a coincidence, they decided.

The ability to monitor CtrA levels “has been invented multiple times throughout evolution by different phages that infect different bacteria,” Erill says. When distantly related species demonstrate a similar trait, it’s called convergent evolution—and it indicates that the trait is definitely useful.

A delta bacteriophage, the first identified in a new study in Frontiers in Microbiology to have binding sites for CtrA, a protein produced by the bacteriophage’s host that regulates the production of pili and flagella. The presence of these binding sites only in phages that require their host cells to have pili/flagella in order to infect them suggests that the phage is monitoring the presence of this protein in order to “decide” whether to stay put or replicate and emerge from its host cell./CREDIT:Tagide deCarvalho/UMBC

Timing is everything

Another wrinkle in the story: The first phage in which the research team identified CtrA binding sites infects a particular group of bacteria called Caulobacterales. Caulobacterales are an especially well-studied group of bacteria, because they exist in two forms: a “swarmer” form that swims around freely, and a “stalked” form that attaches to a surface. The swarmers have pili/flagella, and the stalks do not. In these bacteria, CtrA also regulates the cell cycle, determining whether a cell will divide evenly into two more of the same cell type, or divide asymmetrically to produce one swarmer and one stalk cell.

Because the phages can only infect swarmer cells, it’s in their best interest only to burst out of their host when there are many swarmer cells available to infect. Generally, Caulobacterales live in nutrient-poor environments, and they are very spread out. “But when they find a good pocket of microhabitat, they become stalked cells and proliferate,” Erill says, eventually producing large quantities of swarmer cells.

So, “We hypothesize the phages are monitoring CtrA levels, which go up and down during the life cycle of the cells, to figure out when the swarmer cell is becoming a stalk cell and becoming a factory of swarmers,” Erill says, “and at that point, they burst the cell, because there are going to be many swarmers nearby to infect.”

Listening in

“Everything that we know about phages, every single evolutionary strategy they have developed, has been shown to translate to viruses that infect plants and animals,” he says. “It’s almost a given. So if phages are listening in on their hosts, the viruses that affect humans are bound to be doing the same.”

There are a few other documented examples of phages monitoring their environment in interesting ways, but none include so many different phages employing the same strategy against so many bacterial hosts.

This new research is the “first broad scope demonstration that phages are listening in on what’s going on in the cell, in this case, in terms of cell development,” Erill says. But more examples are on the way, he predicts. Already, members of his lab have started looking for receptors for other bacterial regulatory molecules in phages, he says—and they’re finding them.

New therapeutic avenues

The key takeaway from this research is that “the virus is using cellular intel to make decisions,” Erill says, “and if it’s happening in bacteria, it’s almost certainly happening in plants and animals, because if it’s an evolutionary strategy that makes sense, evolution will discover it and exploit it.”

For example, to optimize its strategy for survival and replication, an animal virus might want to know what kind of tissue it is in, or how robust the host’s immune response is to its infection. While it might be unsettling to think about all the information viruses could gather and possibly use to make us sicker, these discoveries also open up avenues for new therapies.

“If you are developing an antiviral drug, and you know the virus is listening in on a particular signal, then maybe you can fool the virus,” Erill says. That’s several steps away, however. For now, “We are just starting to realize how actively viruses have eyes on us—how they are monitoring what’s going on around them and making decisions based on that,” Erill says. “It’s fascinating.”

Related: http://dx.doi.org/10.3389/fmicb.2022.918015

Big Billion Days 2022: Flipkart shoppers peak to 1.6 million users per second

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E-commerce major Flipkart witnessed record number of shoppers at 1.6 million users per second the moment it opened the ninth edition of its ‘Big Billion Days 2022’ festive sales on Friday.

Attributing the huge rush to its opening to shoppers from tier 2 and smaller cities, the number of Flipkart Plus customers using Early Access saw huge rise from its last year’s record, said the comnpany.

Electronic devices such as laptops, smartwatches and true wireless wearables saw the highest demand, while makeup and fragrance category floowed next. The groceries too saw a significant rise in customers, said the company in a statement.

“This year’s event is special for many reasons, like the growing strength of our seller and partner ecosystem and the innovations that have enabled access to greater inclusivity and affordability for consumers,” said Manjari Singhal, Flipkart’s Senior Director of sales.

Shopsy, the e-commerce platform by Flipkart for Bharat, drew a majority of customers from tier 2 cities and beyond and the number of kiranas partnering with Flipkart for the festive sales deliveries grew from 27,000 in 2019 to 2 lakh in 2022.

The company is expecting a sales pitch in the first festive week to touch $5.9 billion this year and predictions are at $11.8 billion worth gross merchandise value (GMV) during the entire festive month.

Directorate of Revenue Intelligence foils attempts of gold smuggling, seizes 65.46 kg of gold at Mumbai, Patna, Delhi

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Continuing the streak of significant seizures, in a major swoop down, the Directorate of Revenue Intelligence (DRI) has seized 394 pieces of foreign origin gold bars weighing approximately 65.46 kg and valued at Rs. 33.40 crore (approx.) which was being smuggled from neighbouring north eastern countries.

Specific intelligence indicated that a syndicate is actively planning to smuggle foreign origin gold from Mizoram and using domestic courier consignment of supply chain & logistic company (hereinafter referred as logistics company).

In order to interdict the contraband, “Op Gold Rush” was launched by DRI and a particular consignment declared to contain ‘Personal Goods’ destined to Mumbai was intercepted. Examination of the consignment at Bhiwandi (Maharashtra) on 19.09.2022 led to recovery and seizure of 120 pieces of foreign origin gold biscuits weighing approximately 19.93 Kg and valued at about Rs. 10.18 crore.

Further analysis and investigation revealed that 2 other such consignment, sent by same consignor from same location to same consignee, destined to Mumbai and in transit, were despatched through the same logistics company. The location of the consignments was traced.

DRI foils attempts of gold smuggling.

The second consignment was located and intercepted in Bihar. Upon examination at the Warehouse of the logistics company, it led to recovery of 172 foreign origin gold bars weighing approximately 28.57 kgs and valued at about Rs.14.50 crore. Similarly, the third consignment was intercepted and examined at the Delhi hub of the logistics company which led to recovery and seizure of 102 pieces of foreign origin gold bars weighing approximately 16.96 kg and valued at about Rs. 8.69 crore.

Directorate of Revenue Intelligence foils attempts of gold smuggling.

These series of detections have helped unearth novel modus operandi of smuggling foreign origin gold into India from the north eastern part of the country and through domestic courier route of logistics company. Such detections reinforce DRI’s ability to detect and combat unique and sophisticated methods of smuggling. A total of 394 foreign origin gold bars weighing approximately 65.46 Kg and valued at approximately Rs 33.40 crore were recovered and seized in multi city operations.

Bizarre mindset of Russian legislator bares open, says Queen’s funeral ideal time to nuke London

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Russian TV anchors, known for crossing the lines of journaistic ethics, have been vociferously seeking blood in the countries which are opposed to the Ukraine war since the beginning of this year.

In a remark on the program 60 Minutes, Olga Skabeyeva of the Russia-1 channel said that there is a clamour for raids on Western countries for their support to Ukraine in the war.

As the defeat in several border towns s looming large, the Russian TVs are now joined by legislators drawing their attention to global events including the Queen’s funeral where 2,000 world leaders congregated on Monday.

In a bizarre remark on Monday, a legislator too joined the bllitzkriez suggesting that Moscow should have taken advantage of Queen Elizabeth II’s funeral to launch a nuclear missile strike on London, which did not invite the Russian Preesident Vladimir Putin for the event.

Queen Elizabeth II funeral

In a remark on during a discussion on Monday, Andrey Gurulyov, a Russian member of parliament and a former army commander, refuted US President Joe Biden’s appeal to Vladimir Putin not to use weapons of mass destruction, such as nuclear arms.

Target UK, not Ukraine

“What made him think we would conduct a nuclear strike against Ukraine? We’ll still have to live over there, in Ukraine. We have plenty of targets…Why would we bomb Ukraine and Germany when there is Britain, the root of evil?” he said.

Then Skabeyeva interrupted with a remark: “We should have done it today. All the best people are there for the funeral.”

Taking it further, Gurulyov hovered around the aftermath the UK would face in the event of a nuclear strike. “Will they defend a Martian desert as per their 5th Article?” he told Skabeyeva, referring to NATO’s collective defense pledge, “there will be nothing left. What do they call it, an unshakeable island? We’ll shake it up.”

Targeting UK

Co-anchor of 60 Minutes, Evgeny Popov, then joined the debate saying, “Let me remind you that Great Britain…also has nuclear weapons,” to which Gurulyov said the UK’s warheads could be “instantly decimated”. The legislator, already on sanctions list of the US, suggested last month that Putin should launch missile strikes on the UK which “would be the end of the British Crown.”

The Queen Elizabeth’s funeral on Monday was attended by leaders and state heads from around the world, including US President Joe Biden, Japanese Emperor Naruhito, French President Emmanuel Macron, Indian President Droupadi Murmu among others to pay their respects to the queen, after a week of national mourning in the UK which has seen an outpouring of grief and reverence over the death of the British monarch.

The ire against the British is apparently evident after TV news revealed several English-speaking foreigners are taking part in the Ukraine war, which helped Kyiv restore several bordering towns defeating the Russian forces.

Delhi court orders probe into Rs.800 Crore bank scam, involving PSBs

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A new bank scam has come into light before a Delhi court which on Tuesday ordered a court-monitored investigation. The scam involving among other public sector banks, the State Bank of India, runs into Rs 800 crore, allegedly involving an infrastructure company director.

The FIR in this regard was registered by the Delhi Police’s Economic Offences Wing (EOW) and Chief Metropolitan Magistrate Shivani Chauhan of Saket District Court, heard an application filed by complainant Vaibhav Jalan against Gaurav Jalan, Director of JKM Infra Projects Ltd and ordered the probe.

The petitioner’s counsel argued that the accused allegedly created fictitious invoices and transferred the money from the company accounts to shell companies’ accounts, but no effective investigation has been carried out by the Investigating Officer and the complainant was not called for purpose of the probe in the last ten months.

Taking note of the submissions, the court directed the EOW to file a status report seeking the investigation carried out by it in the last 10 months and what investigation has been conducted on the discrepancies highlighted by a forensic audit of the company.

It also noted the apprehension that the accused may flee the country to evade the process of law. The matter will be further heard on November 11. (IANS)

Ministry of Corporate Affairs cracks down on Chinese shell companies

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After the simultaneous search and seizure operations conducted by the Ministry of Corporate Affairs on 8th Sept. 2022, on the offices of Jillian Consultants India Private Ltd, a wholly owned subsidiary of Jilian Hong Kong Ltd., at Gurgaon, Fininty Pvt Ltd at Bangalore and Husys Consulting Ltd, an erstwhile listed company at Hyderabad, the Serious Fraud Investigation Office (SFIO) has arrested Mr Dortse yesterday.

Mr Dortse is on the Board of Jillian India Ltd and has clearly emerged as the mastermind of the whole racket of incorporating large number of shell companies with Chinese links in India and providing dummy Directors on their Boards. The arrested person Mr. Dortse had shown himself to be a resident of Mandi in Himachal Pradesh as per the records filed with the Registrar of Companies.

​Evidence procured during the enquiry by ROC Delhi and the simultaneous search operations clearly points to dummy Directors being paid by Jilian India Ltd. to act as dummies in several shell companies. Boxes filled with company seals and digital signatures of dummy directors have been recovered from the site.  The Indian employees were in touch with the Chinese counterparts through a Chinese instant messaging app. Husys Ltd. was also found to be acting on behalf of Jilian India Ltd.. Initial observations reveal that Husys Ltd. had a pact with Jilian Hong Kong Ltd. Investigations so far have revealed the possible involvement of these shell companies in serious financial crimes detrimental to the financial security of the country.

Ministry of Corporate Affairs

The Ministry of Corporate Affairs, under whose aegis SFIO operates, had assigned the investigation of Jilian Consultants India Private Limited and 32 other companies to SFIO on 9th  Sept., 2022. Mr. Dortse and one Chinese national are the two directors in Jilian Consultants India Private Limited. Based on inputs and the investigations carried out, it was gathered that Mr. Dortse had fled from Delhi NCR to a remote place in the state of Bihar and was attempting to escape India through the road route. Immediately, a special team was constituted in SFIO which was deputed to the said remote place. In the evening of 10th Sept., 2022, SFIO had arrested Mr. Dortse, who was later produced in the Jurisdictional Court and Orders for his transit remand were obtained.

‘Brahmastra’ makes Rs.36.5 Cr on Opening Day, Likely to cross Rs.100 Cr after weekend

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‘Brahmastra’ seems to have finally broken the so-called boycott trollers and made a headway to cross the Rs.100 crore target by Monday, going by the expectations running high.
Released on Friday, the opening day collections were reported to be in the range of Rs 36.50 crore to Rs 38.50 crore, a figure far better than pre-pandemic blockbusters ‘Sanju’, ‘Tiger Zinda Hai’ and ‘Dhoom 3’.
Despite the boycott call and negative reviews and tweets by business analyst Taran Adarsh, who wrote,”Brahmāstra is a king-sized disappointment… High on VFX, low on content [second half nosedives]… Brahmāstra could’ve been a game changer, but, alas, it’s a missed opportunity… All gloss, no soul,” the film is doing well in its initial days.

Brahmastra posters

According to ‘Bollywood Hungama’, early estimates indicated that the Ayan Mukherji movie has collected the above figures. Whether the move, made at a whopping cost of Rs.415 cr will make at least Rs. 500 crore, however, remains to be seen.

According to ‘Bollywood Hungama’, its first-day earnings have surpassed those of the biggest post-pandemic grosser, the Akshay Kumar and Katrina Kaif-led ‘Sooryavanshi’.With no major release to counter the movie until the upcoming actioner ‘Vikram Vedha’ starring Hrithik Roshan and Saif Ali Khan on September 30, ‘Brahmastra’ is expected to carry on its run to a decent returns with high ticket rates ranging from Rs. 1,000 in Mumbai to Rs. 2,000 in Delhi at top malls.

“The film has fared exceptionally well in the multiplexes and the mass belts too stood their ground with spot bookings,” ‘Bollywood Hungama’ wrote.

Besides Hindi, the film’s other language versions are reportedly bringing in viewers going by the opening day’s collection of Rs. 5 crore each and the occupancy rate ranging anywhere between 40 and 50% in major South Indian cities.

 

IMF chief Kristalina Georgieva calls on President Murmu

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Ms Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) called on the President of India, Droupadi Murmu at Rashtrapati Bhavan today (September 9, 2022).

Welcoming Ms Georgieva to Rashtrapati Bhavan, the President said that the world is passing through the third year of the Covid pandemic. She noted that significant assistance has been provided to many low-income countries by multilateral institutions such as the IMF and the World Bank. She said that IMF has to play an important role in maintaining the stability of the International Monetary System.

The President said that today, India is one of the fastest growing major economies of the world. India’s start-up ecosystem ranks high in the world. The success of start-ups in our country, especially the growing number of Unicorns, is a shining example of our industrial progress. What is even more gratifying is that the development of our country is becoming more inclusive and regional disparities are also reducing. The basic mantra of today’s India is compassion – compassion for the downtrodden, compassion – for the needy and compassion – for the marginalized.

President Droupadi Murmu (PIB)

Speaking about the upcoming G-20 Summit in India in 2023, the President said that multilateral cooperation in the G-20 should be based on the principles of inclusion and flexibility, keeping in mind diversity. She expressed confidence that during India’s presidency, the G-20 Forum will move forward with an aspiration to make efforts to further strengthen multilateralism and global governance, in the direction of building a peaceful, sustainable and prosperous world for all.