DIRS.INFO The most relevant business & tech news

☆ India election 2024: Voters battle extreme temperatures as intense heat wave hits region
▼ + stars: | 2024-04-25 | by ( Helen Regan | ) edition.cnn.com time to read: +7 min

New Delhi CNN —Indian voters are battling sweltering conditions to take part in the world’s biggest election as a severe heat wave hits parts of the country and authorities forecast a hotter-than-normal summer for the South Asian nation. The India Meteorological Department (IMD) said a heat wave will affect parts of south and east India until the end of the week, including four states that are voting on Friday. Climate politicsIndia, the world’s most populous nation with 1.4 billion people, often experiences heat waves during the summer months of May and June. But in recent years, they have arrived earlier and become more prolonged, with scientists linking some of these longer and more intense heat waves to the climate crisis. Last year successive heat waves hit India again, closing schools, damaging crops and putting pressure on energy supplies.

Persons: Gandhi Ray, ”, “, Noemi Cassanelli, Narendra Modi, ” Ray, Commision, Aditya Valiathan Pillai, climatologist Maximiliano Herrera Organizations: New, New Delhi CNN —, South, India Meteorological Department, IMD, CNN, National Disaster Management Authority, Bharatiya Janata Party, BJP, Indian National Congress, World Meteorological Organization Locations: New Delhi, India, West Bengal, Bihar, Uttar Pradesh, Karnataka, Baripada, Khammam, Banka district, Maharashtra, Pakistan, Mumbai, Bangladesh, Asia, Thailand, Philippines, Mekong, Vietnam

☆ New Delhi chokes as trash mountain fire spreads hazardous fumes
▼ + stars: | 2024-04-23 | by ( Rhea Mogul | ) edition.cnn.com time to read: +5 min

Sections of the Ghazipur landfill in New Delhi burst into flames on Sunday, causing dangerous heat and methane emissions and adding to India’s growing climate challenges. Smoke rises on April 23, following a fire that broke out at the Ghazipur landfill in New Delhi, India. Noemi Cassanelli/CNNFires burning at Ghazipur landfill site in New Delhi, India, April 22, 2024. Ghazipur landfill in New Delhi on April 23, following a fire that broke out. Firemen work to douse the fire at Ghazipur landfill on April 22, 2024 in New Delhi, India.

Persons: Noemi Cassanelli, Adnan Abidi, Taj, Narendra Modi, Vipin Kumar, hasn’t Organizations: New, New Delhi CNN, CNN, Reuters, Center for Science, Clean Air Initiative, Municipal Corporation of Delhi, Solutions, Indian, Firemen, Hindustan Times Locations: New Delhi, India, Ghazipur, Bhalswa

☆ Huawei smartphone sales are soaring in China as Apple sinks
▼ + stars: | 2024-04-23 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Huawei is not only making a roaring comeback in China, it is also on the verge of overtaking Apple in the world’s largest smartphone market. Its market share now stands at 15.7%, while Huawei’s has jumped to 15.5%, from 9.3% last year. Counterpoint’s data comes just days after another market research firm IDC said Apple’s global smartphone sales had tumbled 10% in the first quarter, mainly because of loss of momentum in China. Overall smartphone sales in China grew 1.5% in the first quarter, according to Counterpoint. Local smartphone makers Vivo and Honor were the top two brands by market share.

Persons: ”, Ivan Lam, Huawei’s Organizations: New, New Delhi CNN, Huawei, Apple, Research, IDC Locations: New Delhi, China, Shenzhen, Washington, Beijing, United States, China . China

☆ How a store manager from India ended up killed on the battlefields of Ukraine fighting for Russia
▼ + stars: | 2024-04-19 | by ( Vedika Sud | Brad Lendon | ) edition.cnn.com time to read: +10 min

“I saw holes on the back of his shoulder, his ribs right down till his lower back,” Imran told CNN. “He was going to work as a taxi driver or delivery boy in Russia – that process was on,” Imran said. Meanwhile, India, which has no law preventing its citizens from serving in a foreign state’s military, has acknowledged that a number of its nationals have been fighting for Russia in Ukraine. In early March, India’s Central Bureau of Investigation (CBI) said it had busted major human trafficking networks that were duping men into Russian military jobs, with 35 such cases identified. Asfran Mohammed, right, and his brother Imran are pictured with Asran's children before Asfran left for Russia.

Persons: New Delhi CNN —, Asfan Mohammed, he’d, Imran Mohammad, Vladimir Putin’s, “, ” Imran, Imran, ”, Asfan, Putin, Allen, He’d, Asfran, Mohammed Imran, Inna Varenytsia, Bimala Rai Paudyal, I’d, who’d, Asfran Mohammed, Mohammed Imran “, I’ve Organizations: New, New Delhi CNN, CNN, Russian, ”, United Arab Emirates, Reuters Foreign, Kremlin, Indian Ministry, External Affairs, India’s, Bureau of Investigation, Indian Nationals, CBI, Asfan, Indian, Indian Embassy Locations: New Delhi, India, Russia, Russian, Ukraine, Hyderabad, “, Australia, Moscow, Ukrainian, Kreminna, South Asia, Nepal

☆ Opinion: India is on the climate crisis frontline. So why isn’t that an election issue?
▼ + stars: | 2024-04-19 | by ( Opinion Aditya Valiathan Pillai | ) edition.cnn.com time to read: +9 min

This is because climate politics looks different in the developing world; it will shape Indian elections in definitive but under-the-radar ways. Similarly, stump speeches throughout this campaign season have not featured climate change as a central issue. The headwinds of climate change are absorbed by the electoral machine and emerge as end-of-tailpipe policies rather than grand climate strategy. This pattern of climate politics is reinforced by seemingly low recognition in India of climate change as a problem. The climate impacts buffeting the most populous nation on earth aren’t just a domestic issue — they’re an international one.

Persons: Aditya Valiathan Pillai Nadeem Z, Aditya Valiathan Pillai, Read, New Delhi CNN —, Amarjeet Kumar Singh, Kabir Jhangiani, Narendra Modi, Stump, Pawan Sharma, Tamanna Dalal Organizations: New, New Delhi CNN, Anadolu Agency, Getty, Bharatiya Janata Party, BJP Locations: New Delhi, India, Bangalore, Silicon, Karnataka, Mumbai, Delhi, sunburnt, Uttar Pradesh, China, Australia, Agra, Maharashtra, North Bengal, Bengal

☆ Elon Musk is heading to India. He could deliver a big win for Tesla and Narendra Modi
▼ + stars: | 2024-04-19 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter. If the investment in India is announced, it would be a boost to Modi’s efforts to make India a major global manufacturing hub. “We will support the growth of the automobile industry and its transition to EV manufacturing,” the manifesto said. In the fourth quarter of 2023, Tesla briefly lost its crown as the leader in global EV sales to Chinese automaker BYD. It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales.

Persons: New Delhi CNN — Tesla, Elon Musk, Narendra Modi, Tesla, Musk, Modi, Pawan Chandana, “, Bharatiya Janata Party's, Sajjad Hussain, Bharat, ‘, India “, ”, ” Tesla Organizations: New, New Delhi CNN, Reuters, Skyroot Aerospace, CNN, Tesla, SpaceX, Twitter, Financial Times, India, Bharatiya Janata Party, BJP, Bharatiya Janata, Getty, Apple, Foxconn, Musk, India isn’t Locations: New Delhi, India, Shanghai, AFP, China, Beijing, Washington, United States, BYD, New York

☆ Narendra Modi: India’s popular but controversial leader seeking a transformative third term
▼ + stars: | 2024-04-15 | by ( Rhea Mogul | ) edition.cnn.com time to read: +26 min

Varanasi and New Delhi CNN —Indian Prime Minister Narendra Modi once famously made a simple election promise: “good days are coming”. India's Prime Minister Narendra Modi addresses his supporters during an election campaign rally in Pushkar on April 6, 2024. India's Prime Minister Narendra Modi speaking during a rally in Sydney, Australia, on May 23, 2023. Kalpit Bhachech/Getty Images Narendra Modi, then BJP secretary is welcomed at Ahmedabad Railway Station by the party's followers on January 31, 1992. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023.

Persons: Narendra Modi, Modi, Himanshu Sharma, Getty Images Modi, –, ”, Saba Naqvi, “, Vajpayee, Naqvi, Dileep Patel, John Mees, Akash Jaiswal, “ We’ve, ” Jaiswal, isn’t, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Patel, India’s, Jawaharlal Nehru, Indira Gandhi, Rajiv, Rahul Gandhi, Nilanjan Mukhopadhyay, “ Narendra Modi, ” Mukhopadhyay, Mukhopadhyay, ” Modi, Keshav Baliram, “ Modi, BJP Modi, Lord Ram, ” Naqvi, Critics, Christophe Jaffrelot, Karan Thapar, ” Jaffrelot, Modi’s, it’s, —, Raj, India Narendra Modi, Kenny Hoston, Ram, ” Raniva, That’s Organizations: New Delhi CNN, Indian, Bharatiya Janata Party, BJP, India's, Getty Images, Pew, CNN, World Health Organization, New York Times, Rashtriya Swayamsevak Sangh, Getty, Modi, Hospital, Narendra, India Today, Indian National Congress, AP, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Cambridge, today’s Congress Party, Harvard, The Times, Muslim, Australia Locations: Varanasi, New Delhi, Gujarat, Pushkar, India, “ India, United States, Brazil, “, Sydney, Australia, Ahmedabad, Ahmadabad, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Uttar Pradesh, Abu Dhabi, United Arab, Oxford, Vadnagar, Babri, Kadi, Kashmir, United Kingdom, Russia, Ukraine, Israel, Ghaziabad, Meerut, Jama

☆ After a dismal year, Samsung forecasts a 900% jump in profit
▼ + stars: | 2024-04-05 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

New Delhi CNN —Samsung Electronics has said it expects to report a huge rise in its operating profit in the first quarter, offering hopes of a strong recovery after a dismal 2023. The South Korean tech giant estimates its operating profit to have increased to 6.6 trillion Korean won ($4.9 billion) in the January-to-March quarter, from the 0.64 trillion won reported a year earlier, according to an earnings guidance released on Friday. The forecast is higher than consensus estimates of 5.4 trillion won from FactSet. Sales are expected to have risen by more than 11% to 71 trillion won, the world’s biggest memory chip maker added. The upbeat forecast comes after Samsung reported four straight quarters of declining profits, as demand for consumer devices and the chips that power them remained sluggish last year.

Organizations: New, New Delhi CNN, Samsung Electronics, South, FactSet, Samsung Locations: New Delhi

New Delhi CNN —India’s Ministry of External Affairs summoned a US State Department official after the department called for a fair legal process for opposition leader and Delhi chief minister Arvind Kejriwal following his arrest last week. “We take strong objection to the remarks of the Spokesperson of the US State Department about certain legal proceedings in India,” the Ministry said in a statement Wednesday. The Ministry of External Affairs on Wednesday summoned Gloria Berbena, the State Department Minister-Counselor for Public Diplomacy, according to a diplomatic officer with knowledge of the matter. At a briefing later on Wednesday, State Department spokesperson Matthew Miller declined to discuss “private diplomatic conversations” when asked about Berbena’s summoning, but stood by the department’s previous comments. India’s main opposition, the Indian National Congress, has also accused the BJP of using the tax department to “cripple” their finances.

Persons: Arvind Kejriwal, Gloria Berbena, Matthew Miller, ” Miller, Kejriwal, Modi, Narendra Modi’s, Kejriwal’s, ” Organizations: New, New Delhi CNN — India’s, External Affairs, US State Department, Affairs, State Department, Public Diplomacy, State, Aam Aadmi Party, Indian National Congress, Human Rights, Amnesty, India Locations: New Delhi, Delhi, India

☆ Daniel Kahneman, the Nobel Prize winner who wrote Thinking, Fast and Slow, dies aged 90
▼ + stars: | 2024-03-28 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Daniel Kahneman, who won the Nobel Prize for his pioneering theories on behavioral economics, has died. The Israeli-American psychologist died peacefully on Wednesday, according to a release from Princeton University, whose faculty he had joined in 1993. Kahneman, who also wrote the best-selling book Thinking, Fast and Slow, helped debunk the notion that people’s behavior is driven by rational decision-making, and instead is often based on instinct. Then, at 27, he returned to Hebrew University to teach statistics and psychology and began his famous partnership with Amos Tversky, also a Hebrew University psychology professor. In 2002, six years after Tversky’s death, Kahneman won the Nobel Prize in Economics for their models of how intuitive reasoning is flawed in predictable ways.

Persons: New Delhi CNN — Daniel Kahneman, Kahneman, Danny, Eldar Shafir, ” Kahneman, Amos Tversky Organizations: New, New Delhi CNN, Princeton University, Hebrew University, Royal Swedish Academy of Sciences Locations: New Delhi, American, Tel Aviv, Paris, France, British, Palestine, Israel, Jerusalem, Berkeley

☆ Uttar Pradesh: Court ruling effectively outlaws Islamic schools in India’s most populous state
▼ + stars: | 2024-03-24 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

New Delhi CNN —A court in India’s most populous state has effectively banned Islamic schools by striking down on a law governing madrasas, weeks before a nationwide election that could further polarize the world’s largest democracy along religious lines. The Allahabad High Court in Uttar Pradesh on Friday declared the Madrasa Act of 2004 to be unconstitutional, according to a court order seen by CNN, while ordering the state government to move students enrolled in the Islamic system into mainstream schools. While the Allahabad High Court order cited India’s constitutional separation of religion and state in its reasoning for ruling against madrasas, it is Modi who has been frequently accused by critics of dismantling India’s secular traditions. Many Muslims and critics of the BJP have raised concerns that India’s secular fabric is also being eroded as anti-Muslim hate speech make frequent headlines and Muslim-owned properties face demolitions. In December 2020, the northeastern state of Assam passed a law to convert all Islamic schools to regular education institutions.

Persons: New Delhi CNN —, madrasas, ”, Narendra Modi’s, Iftikhar Ahmed Javed, Modi, Himanta Biswa Sarma, Debabrata Saikia Organizations: New, New Delhi CNN, CNN, Bharatiya Janata Party, BJP, Reuters, madrasas Locations: New Delhi, India’s, Allahabad, Court, Uttar Pradesh, India, country’s, Assam

☆ India’s Adani Green Energy Limited is building world’s biggest clean energy plant five times the size of Paris
▼ + stars: | 2024-03-19 | by ( Diksha Madhok | ) edition.cnn.com time to read: +8 min

Its clean energy unit AGEL is building the sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion. But the tycoon has since bounced back and the group is now pouring billions into the clean energy sector. It plans to invest $100 billion into energy transition over the next decade, with 70% of the investments ear-marked for clean energy. A worker walking past rows of solar panels at the Khavda Renewable Energy Park. “[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance.

Persons: can’t, ” Sagar Adani, Adani, He’s, Gautam Adani, Punit Paranjpe, AGEL, ”, haven’t, Hindenburg’s, Gautam, Narendra Modi, Modi, Tim Buckley, ” Buckley, Paranjpe, “, that’s, ” Adani Organizations: New, New Delhi CNN —, CNN, Adani Green Energy, Adani, Khavda, Energy, Hindenburg, AGEL, Getty, International Energy Agency, Sydney, Climate Energy Finance Locations: New Delhi, Paris, Switzerland, India, Gujarat, Indian, Mundra, AFP, Pakistan, American, China, Europe, London, Africa, Australia

☆ India banned TikTok overnight but 200 million people learned to live without it
▼ + stars: | 2024-03-14 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

On Wednesday, the US House of Representatives passed a bill that could lead to a nationwide TikTok ban. While the Chinese-owned app is not disappearing from Americans’ phones anytime soon, many of its 170 million users in the country are deeply rattled. “[Former] US Secretary of State Mike Pompeo had welcomed the ban, saying it ‘will boost India’s sovereignty.’”While India’s abrupt decision shocked the country’s 200 million TikTok users, in the four years since, many have found other suitable alternatives. Within a week of the ban, Meta-owned Instagram cashed in by launching its TikTok copycat, Instagram Reels, in India. According to Ray, Indian content creators swiftly moved all the old content they had shot for TikTok to Instagram Reels and YouTube Shorts.

Persons: TikTok, ”, Nikhil Pahwa, Mike Pompeo, TikTokkers, Saptarshi Ray, Instagram, Moj, Ray, Clyde Fernandes, Vivan Sharan, ” Sharan, “ Organizations: New, New Delhi CNN, India, Google, YouTube, Oxford, Advisory Locations: New Delhi, United States, India, China, Delhi, American, Bengaluru, Opraahfx, Beijing

New Delhi CNN —Police in eastern India have arrested three men for the alleged gang rape of a foreign tourist and assault of her husband, as they hunt for four more suspects in a case that highlights the country’s decades-long struggle to curb sexual violence against women. CNN is not naming the female victim, in accordance with Indian law that prevents the naming of victims of sexual violence. India has struggled for years to tackle high rates of violence against women, with a number of high-profile rape cases involving foreign visitors drawing international attention to the issue. And in 2013, six men were sentenced to life in prison for the gang rape of a Swiss tourist. According to India’s National Crime Records Bureau, a total of 31,516 rape cases were recorded in 2022, an average of 86 cases per day.

Persons: Pitambar Singh Kherwar, Kherwar, Rekha Sharma, Mithilesh Kumar Thakur, ” Organizations: New, New Delhi CNN — Police, Police, CNN, India’s, Commission for Women, Crime Records Locations: New Delhi, India, West Bengal, Nepal, Dumka, Jharkhand, British, Goa, American, Swiss

☆ Nita Ambani is now the most powerful woman in Indian media
▼ + stars: | 2024-02-29 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —Just a few months ago, Nita Ambani stepped away from frontline business to focus on philanthropy. Now, the wife of Asia’s richest man is back with the biggest job in the ferociously competitive world of India media. Nita Ambani will not be steering the media giant alone. Nita Ambani first stepped into the business limelight 10 years ago, becoming the first woman director on the board of Reliance Industries. With her new job title, Nita Ambani has become the most powerful woman in Indian media and entertainment sector, which is worth over $25 billion and growing rapidly.

Persons: New Delhi CNN —, Nita Ambani, Mukesh Ambani, Uday Shankar, “, ”, Ambani’s, Nita Mukesh Ambani, Bikas Das, —, Isha, Anant, Akash —, Akash, ” Nita Ambani, National Stock Exchange —, EY, Mihir Shah Organizations: New, New Delhi CNN, Disney’s, Reliance Industries, Disney’s Asia, Disney, Reliance Foundation, Indian Premier League, IPL, Reliance, Music, International Olympic Committee, Metropolitan Museum of Art, National Stock Exchange, Media Partners, Netflix Locations: New Delhi, India, Mumbai, Disney India, New York, Viacom18

☆ Why India’s economy under Modi offers a real alternative to China
▼ + stars: | 2024-02-26 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.

Persons: Peeyush Mittal, there’s, ”, Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, “, MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, ”, Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore

☆ Runaway train in India travels more than 40 miles without driver
▼ + stars: | 2024-02-26 | by ( Aishwarya S. Iyer | Manveena Suri | ) edition.cnn.com time to read: +2 min

New Delhi CNN —A runaway freight train in northern India traveled nearly 45 miles without a driver on Sunday, reaching speeds of up to 46 miles per hour, before it was brought to a stop, according to railway officials. No one was injured by the runaway train and it was eventually stopped using emergency brakes and by placing stones on the track, preventing a major accident. In April 2018, a runaway train carrying up to 1,000 passengers rolled for several miles before being brought to an emergency stop. None of the estimated 1,000 passengers was injured in the incident and the train reached its final destination two hours behind schedule. Today, it runs about 11,000 trains every day over 67,000 miles of tracks in the world’s most populous nation.

Persons: New Delhi CNN —, Prateek Srivastava, “, ”, Srivastava Organizations: New, New Delhi CNN, Ministry of Railways, CNN Locations: New Delhi, India, Kathua, Jammu, Kashmir, Hoshiarpur district, Punjab, Gujarat, Odisha

☆ Toyota recalls 280,000 vehicles because they may ‘creep forward’ in neutral
▼ + stars: | 2024-02-22 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Toyota is recalling about 280,000 pickups and SUVs in the United States because the engine may not disengage entirely when in neutral. The recall includes certain Toyota Tundra, Sequoia and Lexus LX 600 vehicles manufactured between 2022-2024. The company will inform the owners of recalled vehicles by late April and update the software for the transmission, Toyota said. The recall is one of three in the United States that the company announced Wednesday. The recall involves 15 Toyota and Lexus models from 2020 and 2021, including the Toyota Camry, Rav4, Sienna and the Lexus RX350 and ES350.

Organizations: New, New Delhi CNN, Toyota, Sequoia, Lexus, Lexus LS, Toyota Camry, Camry, Rav4, Daihatsu Locations: New Delhi, United States, North America, Sienna

☆ India’s main opposition party says tax authorities have frozen its funds, weeks before nationwide election
▼ + stars: | 2024-02-16 | by ( Rhea Mogul | Vedika Sud | ) edition.cnn.com time to read: +2 min

New Delhi CNN —India’s main opposition party, the Indian National Congress, said Friday that its bank accounts had been frozen by federal tax authorities, just weeks before an expected nationwide election. He added that the Income Tax Department had issued a payment demand for 2.1 billion rupees ($25.3 million) in connection to the ongoing probe. Maken said the action taken against his party was equivalent to “freezing our democracy.”“The Congress party’s bank accounts haven’t been frozen. CNN has reached out to India’s Income Tax Department and Finance Ministry, and multiple leaders within the Congress Party for further comment. The Congress Party, a once formidable force in Indian politics, has been languishing in the polls since Modi rose to power a decade ago.

Persons: Ajay Maken, Maken, ”, “, Vivek Tankha, Tankha, Mallikarjun Kharge, Narendra Modi’s, Rahul Gandhi, Rajiv Gandhi, Gandhi, Modi, Modi’s Organizations: New, New Delhi CNN, India’s, Indian National Congress, Income, Department, Party, CNN, Finance Ministry, Congress Party, ” Allies, Bharatiya Janata Party, BJP, Former, Indian, Modi’s BJP Locations: New Delhi, India

☆ Despite Japan’s economic recession, Asian stocks rise
▼ + stars: | 2024-02-16 | by ( Diksha Madhok | Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong/New Delhi CNN —Japan’s stock market defied gloomy economic data to rally Friday, lifting broader Asian shares and ending the week on a buoyant note. Japan’s benchmark Nikkei 225 index closed above 38,000 points for the second day in a row, just a whisker off its historic peak reached in December 1989. “If anything, the window of opportunity created by the weak yen is encouraging international investors, as they suspect it will close soon,” he added. The MSCI’s broadest index of Asian shares excluding Japan closed more than 1% higher. On Wall Street, the S&P 500 closed at a record high of 5,029.73 Thursday as US stocks bounced back from steep losses earlier this week.

Persons: ”, Neil Newman, Stephen Innes, Austan Goolsbee, Innes, Korea’s Organizations: Hong Kong / New Delhi CNN, Analysts, Japan, Dow, Nasdaq, Federal Reserve, Fed, Chicago Fed Locations: Hong Kong / New Delhi, Tokyo, United Kingdom, Asia, Pacific, New York, China

☆ Twin mosque demolitions in India underscore deep religious polarization months before nationwide election
▼ + stars: | 2024-02-15 | by ( Rhea Mogul | Aishwarya S Iyer | ) edition.cnn.com time to read: +10 min

The demolitions drew incensed residents onto the streets and at least six people have been killed in clashes with police. The image of India that Modi wants to project is one of a confident, vibrant, and modern superpower. In India, a country of diverse faiths, religious groups follow their own laws for matters such as marriage, divorce and inheritance. Mohammad Zakir Hussain has said he barely slept since the demolition of his mosque, the madrasa, and his home in India’s capital Delhi. “(The government) rationalizes everything by blaming Mughal emperors,” he said, referring to India’s ancient Islamic rulers.

Persons: Narendra Modi, Modi, Ram, ”, Nilanjan Mukhopadhyay, Imtiyaz Khan, Asaduddin, “, Mukhopadhyay, Mohammed Zakir Hussain, Mohammad Zakir Hussain, Aishwarya Iyer, Sanjay Katyal, Rana Safvi, ” Safvi, ” Mohammad Aman, Mohammad Arif, what’s, Mohammad Aman Organizations: New, New Delhi CNN, CNN, Authorities, Bharatiya Janata Party, BJP, Indian, Anadolu, Getty, Amnesty International, Delhi Development Authority, –, Court Locations: New Delhi, India, Uttarakhand, Delhi, Uttarakhand’s Haldwani, Haldwani, AFP, Ayodhya, Uttar Pradesh, India’s, Jammu, Kashmir, BJP, Delhi’s Mehrauli, Akhondji

☆ India’s Gautam Adani rebounds from Hindenburg attack with return to the $100 billion club
▼ + stars: | 2024-02-08 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

Hindenburg Research published a blistering report in January 2023, accusing Gautam Adani, then Asia’s richest man, of engaging in fraud over decades. “The group has done exceptionally well on various fronts since the Hindenburg report,” said Manish Chowdhury, head of research at brokerage StoxBox. On Thursday, his wealth once again crossed the $100 billion threshold, according to the Bloomberg Billionaires Index. An ‘attack’ on IndiaHindenburg Research, named after the 1937 airship disaster, had accused the Adani Group of “brazen stock manipulation” and it questioned the “sky-high” valuations of Adani firms. However, since the Hindenburg report, the group has worked on reducing its borrowing.

Persons: David, Gautam Adani, Hindenburg, Adani, ”, Manish Chowdhury, ” Adani, Jeff Bezos, Mukesh Ambani, John D Rockefeller, Cornelius Vanderbilt, Narendra Modi, Chowdhury, “ Organizations: New, New Delhi CNN, Hindenburg Research, Bloomberg, India Hindenburg Research, Adani, GQG Partners, “, America’s, Adani Enterprises, Indian, Bharatiya Janata Party Locations: New Delhi, India, ’, ”, Times

☆ TSMC, the world’s largest chipmaker, to build a second factory in Japan
▼ + stars: | 2024-02-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) is upping its output in Japan as it continues to expand its global presence. The world’s largest chipmaker will build a second semiconductor fabrication plant, or fab, in the country in “response to rising customer demand,” TSMC said in a statement Tuesday. Japan Advanced Semiconductor Manufacturing (JASM), a subsidiary majority-owned by TSMC, plans to start construction by the end of 2024, it added. The increased production in Japan comes at a time when the chip maker is facing delays at its project in Arizona. Last year, it announced a factory in Dresden, Germany, its first in Europe.

Persons: ” TSMC, JASM’s, Joe Biden, TSMC Organizations: New, New Delhi CNN, Taiwan Semiconductor Manufacturing Company, Semiconductor Manufacturing, TSMC, Toyota, Sony, SONY, US, Apple, Nvidia Locations: New Delhi, Japan, Arizona, Hsinchu, Taiwan, Dresden, Germany, Europe

☆ Paytm was once India’s hottest startup. Its shares have crashed 36% in two days
▼ + stars: | 2024-02-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

Shares of the hugely popular digital payments company have crashed by the daily maximum allowed in Mumbai for two days in a row, even though India’s stock markets have been touching new all-time highs. It also landed in hot water with regulators — two years ago, the central bank barred its banking arm from signing up new customers. Paytm stock is now trading at just 487 rupees (around $6) a share. The latest plunge came after India’s central bank cracked down further on its business. Paytm launched its payments bank in 2017 as a joint venture with founder Vijay Shekhar Sharma.

Persons: New Delhi CNN — Paytm, Paytm, ”, Manish Chowdhury, Vijay Shekhar Sharma, Sharma, Narendra Modi, ” Sharma Organizations: New, New Delhi CNN, Paytm Payments Bank, Indian, CNN Locations: New Delhi, Mumbai, India

☆ Elon Musk says the first human patient has received a brain implant from Neuralink
▼ + stars: | 2024-01-30 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Elon Musk’s controversial startup Neuralink has implanted a chip in a human brain for the first time, the billionaire said in a post on his X platform late Monday. The operation took place on Sunday and the patient was recovering well, he added. “Initial results show promising neuron spike detection,” the world’s richest man said on X, the social media platform he owns. In May last year, Neuralink received FDA clearance for human clinical trials, and a few months later, the startup began recruiting patients with quadriplegia caused by cervical spinal cord injury or amyotrophic lateral sclerosis (ALS). Trial patients will have a chip surgically placed in the part of the brain that controls the intention to move.

Persons: New Delhi CNN — Elon, Stephen Hawking, ”, Neuralink Organizations: New, New Delhi CNN Locations: New Delhi

Search resuls for: "New Delhi CNN"

25 mentions found