DIRS.INFO The most relevant business & tech news

We’ve dedicated (our lives) to our country.”Wrestlers perform exercise drills at the protest site in Jantar Mantar, New Delhi, on April 28, 2023. Vijay Bedi/CNNIn January, India’s sport ministry said it would investigate the sexual harassment allegations, but three months on, the wrestlers say the government hasn’t moved swiftly enough. Olympic medalist Sakshi Malik told CNN that back in January the wrestlers’ allegations were met with apathy, adding there was no transparency with the governing body’s initial investigation. Support for wrestlers growsBy midday on Friday, the protest site swells with supporters, young and old. India’s legal system is notoriously slow, especially when it comes to allegations of sexual harassment owing to a large backlog of allegations.

New Delhi CNN —India’s defense minister told his Chinese counterpart on Thursday that violations of their shared border erode the “entire basis” of relations between the two Asian neighbors. Indian Defense Minister Rajnath Singh made the comments during a meeting with newly appointed Chinese Defense Minister Li Shangfu in New Delhi ahead of a regional security summit on Friday. “He reiterated that violation of existing agreements has eroded the entire basis of bilateral relations and disengagement at the border will logically be followed with de-escalation,” the statement added. His visit comes four days after India and China concluded the 18th round of talks to attempt to resolve the border issue. Pakistan’s Foreign Minister Bilawal Bhutto Zardari’s visit to the country will be the most senior-level one in seven years.

New Delhi CNN —Ten policemen and a civilian were killed in blast as they were returning from an operation against insurgents in India’s central Chhattisgarh state, its chief minister said Wednesday. Rebel Maoist militants are believed to be responsible for the attack, Bhupesh Baghel told reporters, expressing his grief over the deaths. More than 2,100 civilians in India have been killed in the Maoist insurgency since 2010. In 2017, 25 police officers were killed and six others injured when hundreds of suspected Maoist rebels attacked a convoy in central India. Suspected Maoists also struck during India’s elections in 2019, allegedly gunning down a polling supervisor in the eastern state of Odisha.

“From education and developers to manufacturing and the environment, we’re committed to growing and investing across the country,” Cook wrote on Twitter following the meeting. The California-based giant is the world’s second biggest smartphone maker behind Samsung (SSNLF), but its 6% share of the Indian market remains small. Apple has also been ramping up its manufacturing in India, where it first began making iPhones in 2017. In recent months, it has expanded production there after suffering supply chain snags in mainland China, which accounts for the bulk of its smartphone manufacturing. Last month, Foxconn CEO Young Liu also spent a week in the country and met with Modi.

Some staff members were asked to remain at the offices overnight on Tuesday, the BBC said. But the offices are now open for people to enter and leave as needed. A special investigation team appointed by India’s Supreme Court in 2012 found no evidence to suggest he was to blame. India’s main opposition Congress party described the ongoing tax searches at the BBC offices as a “brazen attack” on India’s free press. The raids raised fears of censorship in India, with several media organizations issuing statements condemning the government’s actions.

BBC News reported on television that people had not been allowed to enter or leave the offices. The raids come after the Indian government said it used “emergency powers” to block the documentary from airing in the country, adding that both YouTube and Twitter complied with the order. A BBC spokesperson told CNN that the organization was “fully cooperating” with authorities. The two-part documentary “India: The Modi Question” criticized the then-chief minister of the western state of Gujarat in 2002 when riots broke out between the state’s majority Hindus and minority Muslims. But the riots remain one of the darkest chapters in India’s post-independence history, with some victims still awaiting justice.

☆ Is the iPhone's 'Made in India' era beginning as Apple breaks with China?
▼ + stars: | 2023-02-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

Minister of Commerce and Industry Piyush Goyal said Apple was already making between 5% and 7% of its products in India. His comments come at a time when Foxconn (HNHPF), a top Apple supplier, is looking to expand its operations in India after suffering severe supply disruptions in China. For years, Apple had relied on a vast manufacturing network in China to mass produce iPhones, iPads and other popular products. China headaches mountBut the world’s most valuable company posted shockingly weak earnings this month, partly because of its recent problems in China. According to Counterpoint’s Pathak, India accounts for 16% of the global smartphone production, while China constitutes 70%.

☆ Gautam Adani will be playing defense for a while after mauling by Hindenburg
▼ + stars: | 2023-02-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

The sprawling Adani Group, which he founded over 30 years ago, has established interests in industries ranging from logistics to mining. “We view this as validation of our findings on offshore stock parking by Adani,” Hindenburg founder Nate Anderson said on Twitter. In its report, Hindenburg had alleged that “offshore shells and funds tied to the Adani Group comprise many of the largest ‘public’ holders of Adani stock.”An Adani Group spokesperson declined to comment. Meanwhile, Norway’s sovereign wealth fund, said Thursday it has “for all practical purposes…fully divested,” from the Adani companies. The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission.

☆ Adani crisis: Billionaire scrambles to reassure creditors as market rout enters third week
▼ + stars: | 2023-02-06 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission, which have collapsed in value. While the Adani Group has vehemently denied the allegation made by Hindenburg Resarch as “baseless” and “malicious,” investors remain unconvinced. Adani companies will be reporting quarterly results this week. Moody’s said Friday that the plunge in the shares of Adani companies was likely to reduce the group’s ability to raise capital. Another agency, S&P, cut the outlook for its ratings on two companies, Adani Ports and Adani Electricity, to negative from stable, citing the risk of higher funding costs or reduced access to capital.

☆ Adani Group shares continue to slide as Hindenburg rout deepens
▼ + stars: | 2023-02-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Shares in Adani Group companies continued to plunge on Friday, as the embattled conglomerate grapples with stock market mayhem unleashed after a US short seller accused it of fraud. But his address did little to halt the stock market meltdown that has wiped more than $100 billion off the combined market value of his companies. The unprecedented crash in value of Adani Group shares started when an American short seller, Hindenburg Research, accused the conglomerate of fraud and stock market manipulation. The Adani Group has denounced the report as “baseless” and “malicious,” but analysts say the group hasn’t convincingly answered the questions raised by Hindenburg’s report. Adani’s personal fortune has taken a massive hit because of the stock market turmoil.

☆ Gautam Adani fails to calm investors over market mayhem that wiped out billions
▼ + stars: | 2023-02-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +4 min

New Delhi CNN —Indian billionaire Gautam Adani tried to reassure investors on Thursday after he abruptly abandoned his flagship firm’s $2.5 billion share sale. “Once the market stabilizes, we will review our capital market strategy.”This was the first time the tycoon has spoken about the stock market mayhem that has wiped billions off his logistics and energy business empire. A week-long meltdown in the value of Adani Group shares started when an American short seller accused the conglomerate of fraud. Despite the turmoil, the group’s flagship company, Adani Enterprises, managed to issue new shares worth $2.5 billion on Tuesday. Shares in Adani Enterprises were down almost 9% in Mumbai, while shares in his other companies plunged 5% to 10%.

☆ Asia's richest no more? Gautam Adani's wealth crashes as $90 billion wiped off business
▼ + stars: | 2023-02-01 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

The conglomerate, which has seven listed companies, has lost more than $90 billion in market value in the week since Hindenburg published its report. That stock market rout has wiped nearly $40 billion off Adani’s personal fortune. Ambani’s net worth stands at $83 billion, making him the world’s ninth-richest person, while Adani’s wealth is estimated at about $75 billion, according to Forbes. The turmoil comes despite a brief respite Tuesday for Adani when his flagship firm, Adani Enterprises, managed to issue new shares worth $2.5 billion. At the peak of his wealth last year, Adani was the world’s second-richest person, ahead of Jeff Bezos.

☆ Adani vs Hindenburg: India’s top businessman faces biggest test
▼ + stars: | 2023-01-31 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

So, how did a relatively young and small New York financial research firm manage to bring the Adani juggernaut to a juddering halt? Much of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. This is not the first time analysts have expressed fear that the rapid expansion of Adani businesses comes with huge risk. In its response, Adani Group said that the “leverage ratios” of its companies “continue to be healthy and are in line with the industry benchmarks in the respective sectors. Adani Group “is not going anywhere,” said Rajat Sharma, founder of financial advisory firm Sana Securities.

☆ Adani Group slams US short seller Hindenburg over fraud allegations
▼ + stars: | 2023-01-30 | by ( Diksha Madhok | ) edition.cnn.com time to read: +4 min

Since the release of Hindenburg’s report, Adani’s business empire has lost more than $70 billion of its stock market value. Fast expansionThe 60-year-old tycoon founded the Adani Group over 30 years ago, and is seen as a close ally of India’s current prime minister, Narendra Modi. In its response, the Adani Group portrayed the US short seller’s report as an “attack” on India and its investors. Hidenburg had concluded its report last week with 88 questions for the Adani Group. Adani Enterprises is aiming to raise 200 billion rupees ($2.5 billion) by issuing new shares this month.

☆ Gautam Adani’s business loses $50 billion in market value after short seller report
▼ + stars: | 2023-01-27 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —The value of Gautam Adani’s business empire has crashed by more than $50 billion this week since Hindenburg Research, a US firm that makes money from short selling, published a blistering report accusing it of fraud. India’s Adani Group has denounced Hindenburg’s allegations as “baseless” and “malicious,” and it is considering legal action. But the sharp sell-off in shares, which began Wednesday, accelerated Friday after US hedge fund billionaire Bill Ackman said he found the short seller’s report credible. Adani Enterprises is aiming to raise 200 billion rupees ($2.5 billion) by issuing new shares this month. The 60-year old tycoon founded the Adani group over 30 years ago.

☆ Gautam Adani, Asia's richest man, slams short-seller Hindenburg's claims as 'baseless' and 'malicious'
▼ + stars: | 2023-01-25 | by ( Diksha Madhok | ) edition.cnn.com time to read: +4 min

Shares of Adani’s companies have surged in the last few years, making him Asia’s richest man. In 2021, shares in Adani’s companies tumbled after The Economic Times newspaper said that foreign funds that hold stakes worth billions of dollars were frozen by the country’s National Securities Depository. Its report on the Adani Group comes at a sensitive time. Later this week, Adani Enterprises, the conglomerate’s flagship company, is aiming to raise 200 billion rupees ($2.5 billion) by issuing new shares. Last year, CreditSights, a research firm owned by Fitch Group, published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns about its debt-funded growth plans.

New Delhi CNN —India has banned a BBC documentary critical of Prime Minister Narendra Modi’s alleged role in deadly riots more than 20 years ago from being shown in the country, in a move critics decried as an assault on press freedom. CNN has contacted Twitter and YouTube for comment but is yet to hear back. The two-part documentary “India: The Modi Question,” criticizes Modi, who was the chief minister of the western state of Gujarat in 2002 when riots broke out between the state’s majority Hindus and minority Muslims. The Indian government had declined to reply when contacted by the BBC, the statement added. The documentary explores an unpublished British government report obtained by the BBC, which the British public broadcaster said came in the form of a diplomatic cable.

☆ Gautam Adani, Asia's richest man, is addicted to ChatGPT
▼ + stars: | 2023-01-23 | by ( Diksha Madhok | ) edition.cnn.com time to read: +4 min

New Delhi CNN —Asia’s richest man Gautam Adani says he is addicted to ChatGPT, the powerful new AI tool that interacts with users in an eerily convincing and conversational way. “But there can be no doubt that generative AI will have massive ramifications,” Adani wrote in his post, adding that generative AI holds the “same potential and danger” as silicon chips. Chipmaking has emerged recently as a new flashpoint in US-China tensions, with Washington blocking sales of advanced computer chips and chip-making equipment to Chinese companies. Many of Adani companies have become leading players in their respective sectors. A college dropout and a self-made industrialist, Adani is worth over $120 billion, making him the world’s third richest man, ahead of Jeff Bezos and Bill Gates.

☆ India is set to become the world’s most populous country. Can it create enough jobs?
▼ + stars: | 2023-01-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —India will overtake China this year to become the world’s most populous country. That’s because India is simply not creating employment opportunities for the millions of young job seekers already entering the workforce every year. A huge crowd thronged India Gate on New Year's Eve on December 31, 2022 in New Delhi, India. The country needs to create at least 90 million new non-farm jobs by 2030 to absorb new workers, according to a 2020 report by McKinsey Global Institute. But, according to a former central banker, even this growth is “insufficient.”“A lot of this growth is jobless growth.

☆ Bosch to invest a billion dollars on EV parts centre in Suzhou, China
▼ + stars: | 2023-01-13 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

New Delhi CNN —Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market. The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in the country’s east, Bosch said in a statement on Thursday. It plans to invest around $1 billion in the project over the next years, the statement added. “China is the world’s largest auto market, full of promise and vitality. Bosch has had a presence in China since 1909 and employs around 55,000 people in the country.

☆ TSMC: World's top chip maker mulls global expansion with plants in Europe, Japan
▼ + stars: | 2023-01-13 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Semiconductor giant Taiwan Semiconductor Manufacturing Company (TSMC) may expand its global manufacturing footprint even further. The company is considering opening its first plant in Europe and a second one in Japan, its CEO CC Wei said in an earnings call on Thursday. TSMC, which produces an estimated 90% of the world’s super-advanced chips, has already upped its investment in the United States. The company announced last year that it’s building a second semiconductor factory in Arizona and raising its investment there from $12 billion to $40 billion. The company is also considering building a second fab in Japan, “as long as the demand from customers and the level of government support makes sense,” he said.

☆ Dream11: This Indian company will make employees pay a hefty fine if they bother colleagues on vacation
▼ + stars: | 2023-01-12 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

New Delhi CNN —Getting urgent work emails from colleagues even during vacation? This is a common occurrence for many white-collar workers, especially in India where employees feel overworked and underpaid compared to their global peers, according to several studies over the years. Dream11, a fantasy gaming platform, will fine its employees 100,000 rupees ($1,200) if they contact colleagues with “work-related calls or messages” during their time off. Under the policy, called Unplug, employees log off from all office work for seven days in a year. According to the World Health Organization (WHO), working long hours is killing hundreds of thousands of people a year through stroke and heart disease.

☆ One third of world economy expected to be in recession in 2023, says IMF chief
▼ + stars: | 2023-01-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —This year is going to be tougher on the global economy than the one we have left behind, the International Monetary Fund’s (IMF) chief Kristalina Georgieva has warned. “Half of the European Union will be in recession,” Georgieva added. The IMF currently projects global growth to be at 2.7% this year, slowing from 3.2% in 2022. “For the first time in 40 years China’s growth in 2022 is likely to be at or below global growth,” Georgieva said. “Before Covid, China would deliver 34, 35, 40% of global growth.

☆ Twitter down: Thousands of global users struggle to login but Elon Musk says it ‘works for me’
▼ + stars: | 2022-12-28 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

“User reports indicate Twitter is having problems since 7:13 pm EST,” according to outage detection site Downdetector, where many of the issues were reported. Over 10,000 users had reported trouble with accessing the platform on Wednesday evening, according to Downdetector data. Twitter did not immediately respond to a request for comment, but its new owner Elon Musk tweeted on the platform that it “works for me,” in response to a user query. Meanwhile, some users, including CNN journalists, were met with an error message that read “Something went wrong, but don’t fret – it’s not your fault. Let’s try again.”According to Downdetector, it was desktop users of the platform, rather than those accessing it on mobile, who were most likely to be affected.

New Delhi CNN —Tens of thousands of protesters took to the streets of Dhaka on Saturday calling for the dissolution of parliament to make way for new elections, and demand the resignation of Bangladeshi Prime Minister Sheikh Hasina. Saturday’s protest comes amid a flurry of demonstrations in Bangladesh calling on Hasina to step down and demanding new elections. The Bangladesh Election Commission has not announced a date for the next general election, which is due by the end of 2023. Supporters of Bangladesh's opposition party protest against the government of Prime Minister Sheikh Hasina on December 10, 2022. “Concerned governments should publicly call on the prime minister to allow Bangladeshis to freely engage in peaceful political activities,” she said.

Search resuls for: "Delhi CNN"

25 mentions found