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Wednesday, March 12, 2025

Ukraine ready to accept 30-day ceasefire as US prepares to lift military aid restrictions US secretary of state Marco Rubio said the ball was “now in Russia’s court” after the negotiations concluded.;-The Indian Express

 



US President Donald Trump welcomes Ukraine President Volodymyr Zelenskyy at the White House in Washington. (AP Photo/Ben Curtis)

Taking a dizzying turnaround from the Oval Office row between Volodymyr Zelenskyy and Donald Trump, US on Tuesday lifted its suspension of military aid and intelligence sharing for Ukraine, while Kyiv has expressed openness to a 30-day ceasefire—and the ball is “now in Russia’s court”.

The ceasefire agreement was announced in a joint statement following the high-level talks in Jeddah, nearly two weeks after Oval Office clash. The heated exchange had led the White House to temporarily suspend military aid to Ukraine, despite strong objections from European allies. US Secretary of State Marco Rubio stated that Washington would now present the ceasefire proposal to the Kremlin.

“We’re going to tell them this is what’s on the table. Ukraine is ready to stop shooting and start talking. And now it’ll be up to them to say yes or no,” Rubio said. “If they say no, then we’ll unfortunately know what the impediment is to peace here.”

National security adviser Mike Waltz echoed this sentiment, saying, “The Ukrainian delegation today made something very clear, that they share President Trump’s vision for peace.” He added that discussions had focused on “substantive details on how this war is going to permanently end,” including long-term security guarantees for Ukraine.

Meanwhile, President Trump himself expressed hope that Vladimir Putin would reciprocate Ukraine’s commitment to a 30-day ceasefire, marking what could be the first truce in over three years since Russia’s full-scale invasion in 2022.

“That’s a total ceasefire,” Trump told reporters outside the White House on Tuesday. “Ukraine has agreed to it. And hopefully Russia will agree to it.”

The Jeddah talks

The Jeddah talks come as Russia launched a major drone attack on Ukraine—shooting down over 300 drones in Kyiv’s biggest offensive since the start of the war. Meanwhile, Ukraine retaliated with its own strikes, targeting 10 Russian regions.

According to a report by AP citing sources familiar with the matter, President Trump’s special envoy, Steve Witkoff, may travel to Moscow later this week to meet Russian President Vladimir Putin—although plans remain fluid.

Russia Ukraine War Saudi Arabia U.S. Secretary of State Marco Rubio, left, and U.S. National Security Advisor Mike Waltz speak with the media following meetings with a Ukrainian delegation in Jeddah, Saudi Arabia, March 11, 2025. (Saul Loeb/Pool Photo via AP)

In a joint statement, Ukraine confirmed its readiness to accept the US proposal for an immediate 30-day ceasefire, which could be extended by mutual agreement—provided that Russia accepts and implements it concurrently.

Following the talks, Zelenskyy expressed gratitude to Trump in a televised address, emphasising Ukraine’s commitment to achieving lasting peace.

“Ukraine is ready to accept this proposal—we see it as a positive step and are ready to take it,” Zelenskyy said. “Now, it is up to the United States to conv

“The United States will communicate to Russia that Russian reciprocity is the key to achieving peace,” the statement read.

Ukrainian presidential aide Andriy Yermak later told reporters that the focus was on “how to achieve a just and lasting peace in Ukraine.” He stressed that security guarantees were essential to prevent future Russian aggression.

Tensions between Kyiv and Washington

The meeting was the first between US and Ukrainian officials since the heated Oval Office confrontation between Trump and Zelenskyy last month. Saudi Arabia’s foreign minister was also present, with US, Saudi, and Ukrainian flags displayed in the background.

The delegations met for three hours in the morning before taking a break, and discussions resumed in the afternoon.ince Russia to do the same. If Russia agrees, the ceasefire will take effect immediately.”

Meanwhile, neither Ukraine nor the US immediately commented on Ukraine’s massive drone strike, which involved 343 drones and left three dead and 18 wounded, including three children. Russia retaliated by launching 126 drones and a ballistic missile at Ukraine, continuing its pattern of targeting civilian areas.

President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House on Saturday President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy at the White House on Saturday. (Photo: AP)

European leaders welcomed the ceasefire agreement, calling it a positive step toward peace. European Council President António Costa and European Commission President Ursula von der Leyen stated that the EU is ready to play its full part in the process.

French President Emmanuel Macron reaffirmed France’s commitment to a solid and lasting peace, backed by robust security guarantees for Ukraine.

UK Prime Minister Keir Starmer also supported the agreement, urging all parties to redouble efforts for a lasting peace and announcing that he would convene leaders on Saturday to discuss the next steps.

Kremlin spokesman Dmitry Peskov confirmed that Russia would be informed about the results of the Jeddah talks, calling it “normal practice.”

The Kremlin has yet to make any concessions. Moscow insists that Ukraine must abandon its NATO bid and recognize Russia’s territorial control over occupied regions. Russia currently controls nearly 20% of Ukraine’s territory.Russian forces have held the battlefield advantage for more than a year, despite significant losses, and continue to push forward in the Donetsk region against Ukraine’s weary and understrength army.










Is IndusInd turmoil a one-off or one of many? RBI wants to know:-ET

 


The Reserve Bank of India (RBI) is now assessing whether lapses linked to unhedged forex liabilities are restricted only to the embattled IndusInd Bank, currently facing what its chief executive called a litmus test, or are symptomatic of a broader malaise in the country's banking system, people aware of the matter told ET.

To assess the extent of the problem, the RBI has contacted several large banks to verify their hedging effectiveness and positions in the forex derivative market, said the people cited above. The RBI has asked these banks to provide details about their foreign currency liabilities, including FCBR (B) deposits and foreign currency-denominated bonds.

The RBI also directed the lenders to clarify whether these positions are hedged. If they are not hedged, banks have been asked to explain why, according to the sources.

To be sure, banks typically do not hedge the portion of foreign currency liabilities held by their overseas offices.




Hedging Strategies

The RBI has also inquired from the lenders whether they are testing the efficacy of their hedging strategies for foreign currency liabilities on a quarterly basis, said the sources cited above. It has also sought assurances from banks that they are fully adhering to the hedging guidelines--in both letter and spirit.

The RBI did not respond to e-mailed request for a comment.

IndusInd Bank disclosed on Monday that it has launched an internal review of a portion of its derivative portfolio after discovering discrepancies in account balances. The bank estimates these discrepancies could result in a financial impact of approximately 2.35% of its net worth, with analysts projecting a potential resultant loss of nearly ₹1,600 crore in the March quarter.

Stock Sinks

The IndusInd stock has been roiled over the past six months, with unexpected provisioning causing a significant decline in its third-quarter net profit. The Hinduja-promoted lender, which has lost more than 50% in the past six months, lost an unprecedented 27% Tuesday after the management disclosed the accounting discrepancies running across multiple years.

The issues stemmed from internal trades involving low-liquidity instruments, such as 3 to 6-year yen and 8 to 10-year dollar borrowings.

Rather than directly hedging foreign currency borrowings and deposits with external counterparties, the bank used its internal desk for the hedging process.While external trades were marked to market, the internal trades were valued using swap valuations.

As a result, the two legs of the trade could fluctuate over the contract period but typically converge at maturity.



Musk's Starlink set to disrupt India's internet market Read more at: https://economictimes.indiatimes.com/opinion

 



SpaceX's Starlink is set to enter India's internet market through a partnership with Bharti Airtel, promising to revolutionise connectivity in rural areas. With advanced satellite technology, Starlink aims to overcome the traditional infrastructure limitations, potentially increasing competition and digital inclusion in India's vast and underserved regions.


It's no longer an N-word: With US removing security guarantees, everybody will want to get nuked up:-ET

 European countries no longer trust the US nuclear guarantee after Trump's actions, leading Poland to consider an independent nuclear deterrent. Countries like Japan, South Korea, and Saudi Arabia may follow suit, increasing the risk of nuclear proliferation and instability globally.


Jaffar Express Hijack: Pakistan security forces rescue 104 hostages, kill at least 16 militants in Balochistan:-ET

 


Pakistan's security forces rescued 104 hostages after an armed attack on the Jaffar Express in Balochistan's Bolan Pass. The Baloch Liberation Army (BLA) claimed responsibility and threatened to execute hostages if military operations continued. Security forces launched a counter-operation, killing 16 militants. The attack, which targeted a train carrying over 400 passengers, highlights the ongoing insurgency in the region. Emergency measures were implemented as clashes continued in the mountainous terrain. The fate of other passengers remains uncertain.

Tuesday, March 11, 2025

IndusInd faces Rs 2,000-crore net worth hit over derivative discrepancies:-ET

 



Mumbai: IndusInd Bank's net worth is expected to decline between ₹1,600 crore and ₹2,000 crore, and the Hinduja-promoted lender would accommodate this loss in its fourth-quarter earnings or first quarter next fiscal year, executives said late Monday, after having remedied accounting gaps linked to multiple-year derivative transactions.

This anticipated erosion in net worth, which the lender estimated at 2.35% of the total, follows Monday's disclosures on discrepancies in derivative deals over the past five to seven years, executives told analysts in a late-evening call.

They said that the bank had appointed an external auditor to review these transactions, and that its report is expected by the end of the March quarter.

"We began reviewing our internal trade book and noticed some discrepancies in our business, which were identified between September and October. We then hired an external agency to conduct a review," CEO Sumant Kathpalia told analysts. "We are confident that by the end of March or early April, we will have a clearer understanding of the situation. Although the initial findings seem in line with what we've stated, we want to ensure complete validation."

He added that the bank had already provided a preliminary update to the RBI last week, and a final update had also been submitted.

Kathpalia, who recently received a one-year extension from the Reserve Bank of India (RBI) against the three years sought by the board, also addressed concerns around his tenure, adding that the banking regulator might have had reservations about his leadership skills.

'LEADERSHIP' UNDER LENS?

“I don't know what is the rationale for them (RBI) to give me one year, but I think they're uncomfortable with the way my leadership skills of running the bank is, and we have to respect that,” he said.“And I think this is a test for the bank, as well as from a succession point that we see how to take the bank forward. I remain committed for one year to the bank. The board will evaluate external and internal candidates for CEO position.

I don't know whether they evaluate me, or whether they evaluate somebody else. That's for the board to decide.”

The bank, which reported a near 40% decline in its third-quarter standalone profit on higher provisions, has seen its market value shrink 37% in six months – with the past month alone accounting for a 16% retreat in its stock price.

The stock is now at levels it had touched late 2022 and early 2023. Meanwhile, the banking regulator’s decision to extend the tenure of IndusInd Bank chief executive Sumant Kathpalia by just one year, instead of the three years sought by the lender, has raised concerns among analysts.

They said this could heighten uncertainties about leadership transition at the bank, affecting its governance and asset quality and potentially triggering negative long-term market reactions - similar to what was witnessed after Kathpalia's term was extended by only two years in 2023.

“The stock is unlikely to see any rerating until a CEO with a threeyear term is appointed," Pranav Gundlapalle, head of India financials at Bernstein, said in a report.

PREMATURE EXIT?

Macquarie Capital speculated that Kathpalia may choose to step down. Also, the bank may hire a public sector banker to lead it.

“The IndusInd Bank CEO may decide to retire early given the suboptimal tenure approval, or a new CEO could be appointed after his one-year term, possibly a PSU banker,” Macquarie Capital associate director Suresh Ganapathy wrote in a report.


Ganapathy expressed surprise over Kathpalia not getting a full three-year extension, especially since the RBI had granted such extensions to CEOs at AU Bank, City Union Bank, HDFC Bank, ICICI Bank and RBL Bank."In this context, this extension will be viewed as sub-optimal," he said. Also, the RBI in the past had given a three-year extension to Federal Bank former CEO Shyam Srinivasan after he completed a one-year term. No such favour was shown in the case of IndusInd Bank.



Leave Travel Allowance: This is the last date for current LTA block:-ET

 



The Leave Travel Allowance (LTA) enables salaried employees to claim travel expense tax deductions, which can reduce their taxable income in certain circumstances. Employees are eligible to get reimbursement for travel expenses incurred while on leave, which includes public transportation, such as trains and flights, which are often covered by the LTA. Nonetheless, the amount of compensation is decided by the actual expenses or constraints imposed by tax authorities or employers.

Who can claim LTA?


LTA, or leave travel concession, is an allowance included in employees' salary packages that covers travel expenditures incurred while on leave.

Any employee can claim an LTA deduction if their company offers it as part of their pay. Employees who receive LTA as part of their salary are eligible to claim a travel expense exemption under Section 10(5) of the Income-tax Act of 1961. This covers travel for oneself, one's spouse, and one's kids while on leave. In addition, if they are entirely or primarily reliant on the employee, parents, siblings, and sisters may qualify.

Is LTA exempt from tax?

LTA is tax exempt in certain cases as per Section 10(5) of the Income Tax Act, 1961.


When is the last date to block LTA?

Taxpayers are only permitted to claim LTA for a maximum of two journeys within a four-year period. Currently, January 1, 2022, through December 31, 2025, is the block period. So, the last date to block the current LTA is December 31, 2025.

How often can one claim LTA?

Taxpayers can claim LTA for a maximum of two journeys in a block of four calendar years. The current block period is January 1, 2022, to December 31, 2025. If an employee doesn't utilise the full LTA entitlement within a block, the unused portion can be carried forward to the first year of the subsequent block.

LTA exemption limit


If you are eligible for LTA, you must travel and provide your employer with the original documentation of your trip in order to claim the reimbursement. If you did not travel while on leave, you are not eligible for this exemption. LTA does not allow for the claim of other expenses like lodging, meals, and stays. Transfers between the airport and the hotel, or vice versa, are not allowed. Exemption for travel expenses within the city is not allowed.

Can you claim LTA for domestic and international travel?


LTA exemption is only applicable for travel within India. International travel is not eligible for LTA exemption.
To claim LTA, an employee needs to submit following documents:
a) Original bills of journeys such as bus tickets, railways tickets, etc.
b) In case of travel to a place where train or air facility is not available, original bills issued by a car rental company in case of car hire
c) In the case of air travel air tickets and boarding passes
d) Bank/credit card/debit card/ wallet statements from which the payments were made

The above documents should be submitted with signed Form 12BB as evidence of expenditure. It is better to submit all the LTA-related documents to the employer during the relevant financial year.

Any unused LTA can be carried over to the first year of the next block if an employee does not use their entire entitlement within a block.


US stock market loses $4 trillion in value as Trump plows ahead on tariffs:-ET

 



NEW YORK: President Donald Trump's tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out $4 trillion from the S&P 500's peak last month, when Wall Street was cheering much of Trump's agenda.

A barrage of new Trump policies has increased uncertainty for businesses, consumers and investors, notably back-and-forth tariff moves against major trading partners like Canada, Mexico and China.

"We've seen clearly a big sentiment shift," said Ayako Yoshioka, senior investment strategist at Wealth Enhancement. "A lot of what has worked is not working now."

The stock market selloff deepened on Monday. The benchmark S&P 500 fell 2.7%, its biggest daily drop of the year. The Nasdaq Composite slid 4%, its largest one-day decline since September 2022.

The S&P 500 on Monday closed down 8.6% from its February 19 record high, shedding over $4 trillion in market value since then and nearing a 10% decline that would represent a correction for the index. The tech-heavy Nasdaq ended Thursday down more than 10% from its December high.

Trump over the weekend declined to predict whether the U.S. could face a recession as investors worried about the impact of his trade policy.

"The amount of uncertainty that has been created by the tariff wars with regard to Canada, Mexico and Europe, is causing boards and C-suites to reconsider the pathway forward," Peter Orszag, CEO of Lazard, speaking at the CERAWeek conference in Houston."People can understand ongoing tensions with China, but the Canada, Mexico, and Europe part is confusing. Unless that gets resolved over the next month or so, this could do real damage to the economic prospects of the US and M&A activity," Orszag said.

Delta Air Lines on Monday slashed its first-quarter profit estimates by half, sending its shares down 14% in aftermarket action. CEO Ed Bastian blamed heightened U.S. economic uncertainty.Investors are also watching whether lawmakers can pass a funding bill to avert a partial federal government shutdown. A U.S. report on inflation looms on Wednesday.

"The Trump administration seems a little more accepting of the idea that they're OK with the market falling, and they're potentially even OK with a recession in order to exact their broader goals," said Ross Mayfield, investment strategist at Baird. "I think that's a big wake up call for Wall Street."

The percentage of total corporate equities and mutual fund shares that are owned by the bottom 50% of the U.S. population, ranked by wealth, stands at about 1%, while the same measure for the top 10% of the population by wealth stood at 87%, according to Federal Reserve Bank of St. Louis data as of July 2024.The S&P 500 tallied back-to-back gains of over 20% in 2023 and 2024, led by megacap technology and tech-related stocks such as Nvidia and Tesla that have struggled so far in 2025, dragging major indexes.

On Monday, the S&P 500's technology sector dropped 4.3%, while Apple and Nvidia both fell about 5%. Tesla tumbled 15%, shedding about $125 billion in value.Other risk assets were also punished, with bitcoin dropping 5%.

Some defensive areas of the market held up better, with the utilities sector logging a 1% daily gain. Safe-haven U.S. government debt saw more demand, with benchmark 10-year Treasury yields, which move inversely to prices, down to about 4.22%.INVESTOR UNEASE

The S&P 500 has given up all gains recorded since Trump's November 5 election, and it is down nearly 3% in that time. Hedge funds reduced exposure to stocks on Friday at the largest amount in more than two years, according to a Goldman Sachs note released on Monday.

Investors had expressed optimism that Trump's expected pro-growth agenda including tax cuts and deregulation would benefit stocks, but uncertainty over tariffs and other changes including federal workforce cuts, has dampened sentiment.

"It was the overwhelming consensus that everything was going to be this great environment once President Trump came into office," said Michael O'Rourke, chief market strategist at JonesTrading."Every time you have structural change you're going to have uncertainty and you're going to have friction," O'Rourke said. "It's understandable people are starting to be a little concerned and starting to take profits."

Even with the recent selloff, stock market valuations remain significantly above historic averages. The S&P 500 as of Friday was at just above 21 times earnings estimates for the next year, compared to its long-term average forward P/E of 15.8, according to LSEG Datastream.


"Many people have been worried about elevated valuations among U.S. equities for some time and looking for the catalyst for a market correction," said Dan Coatsworth, investment analyst at AJ Bell. "A combination of concerns about a trade war, geopolitical tensions and an uncertain economic outlook could be that catalyst."

Investors' equity positioning has fallen in recent weeks, dipping to slightly underweight for the first time since briefly hitting that level in August, Deutsche Bank analysts said in a note on Friday.

A further retreat to the bottom of the historic range for equities weighting, as seen during Trump's U.S.-China trade war in 2018-2019, could drag the S&P 500 to as low as 5,300, or down another 5.5% from current levels, they added.

In another sign of growing investor unease, the Cboe Volatility index on Monday reached its highest closing level since August.

The administration is "still trying to figure out how to define a win politically, economically, and what is the right timeframe," said Edward Al-Hussainy, senior interest rate and currency analyst at Columbia Threadneedle Investments. "And until they do that, it's going to be like this every week."



US Intelligence chief Tulsi Gabbard to visit India, talks to include strengthening Indo-Pacific ties:-ET

 


US Director of National Intelligence (DNI) Tulsi Gabbard is set to visit India as part of a broader Indo-Pacific tour. The trip, which includes stops in Japan and Thailand, aims to strengthen ties and promote open communication in line with President Donald Trump's goals. This marks her first visit to India since assuming office. Gabbard previously met Prime Minister Narendra Modi in Washington, where they discussed bilateral relations and strategic cooperation.


Bangladesh Army coup plot thickens as pro-Pakistan Lt General put under surveillance:-ET

 A faction within the Bangladesh Army, led by Lt General Faizur Rahman, is attempting to replace the current army chief, Gen Waqar-uz-Zaman. Rahman convened a meeting to gauge support for a coup but received limited attendance. Military intelligence is now monitoring him, and political instability may worsen. Several senior army officers are implicated in the conspiracy.


Monday, March 10, 2025

Japanese woman found dead in Gurugram, falls from 14th floor balcony The woman was identified as Madoko Thamano (34), a resident oJapanese woman found dead in Gurugram, falls from 14th floor balcony The woman was identified as Madoko Thamano (34), a resident of Japan. She had come to Gurugram with her husband in September last year, police said.f Japan. She had come to Gurugram with her husband in September last year, police said.

 A Japanese woman was found dead after supposedly having fallen from a balcony on the 14th floor here, police said on Sunday.

The woman was identified as Madoko Thamano (34), a resident of Japan. She had come to Gurugram with her husband in September last year, police said. She was living in a society here with her husband and two children.

The incident occurred on Friday morning when the police received a call regarding a woman’s blood-soaked body being found lying on the ground, a senior police officer said.The body was handed over to the family after post-mortem and further investigation into the matter is underway, police said.“The embassy has also been informed about the incident”, said Inspector Sandeep Kumar, SHO of sector 53 police station.

Canada ruling party elects Mark Carney as new leader, next PM:-ET

 

Mark Carney secured an overwhelming victory in the Liberal Party leadership vote, succeeding Justin Trudeau as Canada's Prime Minister. Carney, former central banker, immediately addressed the challenges posed by US President Donald Trump and emphasized the need to defend Canada. With elections anticipated soon, Carney is seen as the best candidate to face Trump.




Sunday, March 9, 2025

No .. Read more at: https://telecom.economictimes.indiatimes.com/news

 

NEW DELHI: Finnish telecom gear maker Nokia said on Wednesday that it is rapidly deploying its latest fifth-generation (5G) radio modules and baseband to support Vodafone Idea’s (Vi) 5G network launch in key markets in India.

“Nokia, serving as the 5G technology solution provider, has completed all equipment deliveries. The deployment is progressing rapidly,” the vendor said in a statement.

Saturday, March 8, 2025

Sunita Williams To Return To Earth Next Week:-Rediff.com

 

IMAGE: Sunita Williams and Barry Wilmore in the Boeing Starliner Mockup at NASA's Johnson Space Center preparing for their flight. Photograph: Kind courtesy Bill Stafford/NASA/Instagram
 

The two American astronauts -- Sunita 'Suni' Williams -- 'the woman with the wild hair' as described by US President Donald Trump -- and Barry 'Butch' Wilmore will return to earth soon, said National Aeronautics and Space Administration.

The two astronauts have been stranded on the International Space Station since June 2024 as against the originally planned eight day trip -- with two others, NASA astronaut Nick Hague and Roscosmos cosmonaut Aleksandr Gorbunov.

Suni and Butch will board the SpaceX Dragon spacecraft next week to return to earth.

On March 12, a SpaceX Falcon 9 rocket with the Dragon spacecraft will carry four astronauts -- NASA astronauts Anne McClain, Nichole Ayers, JAXA (Japan Aerospace Exploration Agency) astronaut Takuya Onishi, and Roscosmos cosmonaut Kirill Peskov -- to the ISS.

The rocket will lift off from Launch Complex 39A at NASA's Kennedy Space Center in Florida.

The flight is the 10th crew rotation mission with SpaceX to the space station, and the 11th human spaceflight as part of NASA's Commercial Crew Programme.

Ahead of Crew-9's return, mission teams will review weather conditions at the splashdown sites off the coast of Florida prior to departure from the space station, said NASA.

William and Wilmore's journey to the ISS would be the most reported space event in recent times mainly because of their inability to come back to Earth owing to problems with the thrusters and a helium leak with Boeing's spaceship Starliner that took them to the ISS.

On Thursday, March 6, 2025, Trump scored a political point against his predecessor Joe Biden, saying the latter left Willams and Wilmore stranded in space.

Trump said he had asked Elon Musk -- who owns SpaceX -- to rescue the two astronauts.

'We love you and we're coming up to get you. And you shouldn't have been up there so long,' Trump added.

Musk in a post on X -- which he also owns -- said: 'The astronauts were only supposed to be up there for 8 days and now have been there for 8 months. SpaceX could have sent up another Dragon and brought them home 6 months ago, but the Biden White House (not NASA) refused to allow it. President Trump asked to bring them back as soon as possible and we are doing so.'


Venkatachari Jagannathan can be reached at venkatacharijagannathan@gmail.com

Feature Presentation: Aslam Hunani/Rediff.com


Friday, March 7, 2025

Days after execution, 2 Indians buried in UAE in presence of family members:-ET

 


Two Indian nationals, Shahjadi Khan and Muhammed Rinash Arangilottu, were buried in the UAE, following executions for alleged murders. Shahjadi was executed for allegedly killing a toddler, and Rinash for killing a UAE national. Their burials were conducted in presence of family members and with assistance from the Indian Embassy.



Monday, March 3, 2025

MILLION DOLLAR PICTURE OF INDIAN CRICKET

 


Sebi to challenge court order which sought an FIR against ex-chief Madhabi Puri Buch and others :-ET

 

After a Mumbai court ordered an FIR against former Sebi chief Madhabi Puri Buch, two BSE officials, and others, markets regulator Sebi called the complaint as frivolous and asserted to challenge this order through appropriate legal steps.

"Sebi would be initiating appropriate legal steps to challenge this order and remains committed to ensuring due regulatory compliance in all matters," the regulator said in a release. Meanwhile, BSE also said it is initiating necessary and appropriate legal steps in this regard.


The complaint sought directions for the police to register an FIR and investigate into the alleged irregularities in granting listing permission to a company on the BSE in 1994."Even though these officials were not holding their respective positions at the relevant point of time, the court allowed the application without issuing any notice or granting any opportunity to Sebi to place the facts on record," the regulator noted.


BSE also echoed the same sentiments saying the court has allowed the application without issuing any notice or granting any opportunity to place the facts on record."As a responsible market institution, BSE said it remains committed to upholding regulatory compliance and ensuring transparency," the exchange said.

The tenure of Buch as Sebi Chairperson ended on March 1. She assumed office on March 2, 2022, for a three-year term, becoming the first woman to lead the markets regulator.Buch, during her tenure, faced conflict of interest allegations by Hindenburg. The US-based short-seller accused Buch and her husband Dhaval Buch of investing in offshore entities that were allegedly part of a fund structure in which Vinod Adani -- the elder brother of Adani group founder chairman Gautam Adani -- also had investments.

Buchs have denied the allegations. But, what this led to is Buch getting caught in a political crossfire between the Congress Party and BJP.

There were also reforms during her tenure, through a crackdown on the highly volatile derivatives trading. Under her tenure, Sebi also brought in new norms around enhanced FPI disclosures and increasing mutual fund penetration through Rs 250 SIPs.

Saturday, March 1, 2025

"Not a man that wants to make peace": says Donald Trump after Oval office spat with Volodymyr Zelenskyy:-ET

 

In a fiery Oval Office meeting, US President Donald Trump and Ukrainian President Volodymyr Zelenskyy clashed over the ongoing war with Russia. Trump accused Zelenskyy of blocking peace efforts and lacking gratitude for American aid. The heated exchange led to Zelenskyy leaving abruptly, cancelling a key minerals deal and a press conference. Trump later declared Zelenskyy unwelcome at the White House until he was "ready for peace."



How Trump and Zelenskiy’s Oval Office skirmish broke a deal:ET

 

A severe rift emerged between President Trump and Ukrainian President Zelenskiy during a heated Oval Office exchange, resulting in the collapse of a critical minerals deal. The confrontation escalated diplomatic tensions and undermined prospects for a peace agreement with Russia, while drawing intense scrutiny and political reactions in the US.