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Canon eyes business from chip companies setting up India operations

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Canon eyes business from chip companies setting up India operations


Canon eyes business from chip companies setting up India operations

NEW DELHI: Japanese imaging and optical products major Canon believes that it has a good opportunity in India for its semiconductor lithography equipment required for chip fabrication, and it is in negotiations with companies setting up facilities here, said its India President and CEO Toshiaki Nomura.
Though Canon did not disclose names, it said there are immense opportunities in this, as many chip manufacturers are now eying India as a new destination for semiconductor manufacturing.
“A lot of Chip manufacturers are eyeing India as a new manufacturing place. We are discussing with all those chip manufacturers to give our product and service,” Nomura told PTI.
This is a “good opportunity for us”, and the Tokyo-based group can contribute through its technology, products and services in this segment of the Indian market, he added.
“We are installing the equipment for them to manufacture chips through our technology and the product. We help chip manufacturers build a strong facility in India. Once the chip manufacturer sets up the facility in India, we will install our equipment and through our excellent product and the support we can contribute to Indian semiconductor industries,” Nomura added. “We are now at the negotiation stage. I cannot disclose this information now, but we have our ground discussion ongoing.”
For Canon, India is “one of the most important markets” globally, where the company is growing with double digits and expects to continue that pace of growth here supported by tailwinds, such as a growing economy, rapid urbanisation, and young demography, among others.
“In 2024, we are quite close to double-digit growth, and for coming years, I am very optimistic and confident to achieve double-digit growth year by year,” Nomura said, adding that “all business portfolios for us are showing the growth”.




Dozens killed in Israeli strikes, Gaza officials say

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Dozens killed in Israeli strikes, Gaza officials say


At least 28 people, including children, have died in a wave of Israeli military strikes throughout the Gaza Strip, according to Gaza’s civil defence agency.

A school sheltering displaced families was among the facilities struck, killing eight people including four children over the weekend, the agency said.

It comes as the UN issues a plea for Israel to cease its attacks in the vicinity of a hospital in Gaza’s north.

The Israeli military claimed a Hamas command centre was inside the compound of the Musa bin Nusair school in Gaza City, and has not commented on reports of attacks by the hospital.

“Hamas systematically violates international law,” the Israel Defense Forces (IDF) said on social media, adding that Israel’s response would be to “act with force and determination against the terrorist organizations”.

Gaza’s civil defence agency spokesperson Mahmoud Bassal told the AFP news agency that the school had been repurposed as a shelter for Palestinians displaced by the war.

One displaced man who had been staying at the school, Abu, told BBC Arabic that the attack came while he was asleep.

“We were sleeping peacefully, then suddenly we woke up to the sound of a very powerful explosion,” he said.

Another man Mahmoud said he was asleep in a tent in the schoolyard when the attack took place.

“Stones and shrapnel were flying, the school’s walls fell on our heads,” he told BBC Arabic.

On Sunday, Pope Francis condemned the Israeli attacks on Gaza for a second day in a row.

He expressed pain thinking “of such cruelty, to the machine-gunning of children, to the bombing of schools and hospitals”.

The director of the Kamal Adwan hospital, Dr Hussam Abu Safiya, said its generators had been hit and claimed the Israeli army was targeting the fuel tank.

The head of the World Health Organization (WHO), Dr Tedros Adhanom Ghebreyesus, issued a plea to the IDF to cease attacks in the vicinity of the hospital.

Saturday night’s reports of “bombardment near Kamal Adwan Hospital and order to evacuate the hospital are deeply worrisome,” he said in a statement on social media.

“We call for an immediate ceasefire in the vicinity of the hospital and to protect the patients and health workers.”

The hospital’s director also released a statement that said Israeli forces were treating the hospital “as if we were a military installation”.

“Anyone who steps outside the hospital is at risk of being targeted,” Dr Hussam Abu Safiya said.

He added that relocating the operations of the hospital would jeopardise the patients, and called for health staff “be allowed to operate without the threat of evacuation”.

Israel has not commented on the reports of an evacuation order.

The BBC has approached the IDF for comment.

Palestinian groups involved in the fighting have told the BBC that a ceasefire deal is “closer than ever”.

More than 45,000 Palestinians have been killed during the 14-month war between Israel and Hamas, according to figures from Gaza’s Hamas-run health ministry.

The war began when Hamas-led gunmen carried out an unprecedented attack on southern Israel on 7 October 2023, during which about 1,200 people were killed and 251 others were taken hostage.


SEBI Takes Strict Action In Front Running Case, Bars 9 Entities, Seizes Over Rs 21 Crore | Economy News

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SEBI Takes Strict Action In Front Running Case, Bars 9 Entities, Seizes Over Rs 21 Crore | Economy News


New Delhi: Market regulator, the Securities and Exchange Board of India (SEBI) has taken strict action in a front-running case, banning PNB Met Life Insurance Company’s equity dealer Sachin Bakul Dagli and eight other entities from the stock market.  

According to the SEBI, front running was being done by Dagli and eight entities for more than three years and during this period, all of them collectively earned illegal profits of Rs 21.16 crore. The market regulator banned Dagli and the eight entities from the stock market and seized the unlawful gains.

The SEBI had investigated some suspicious front-running trades related to PNB MetLife India Insurance before this action. The focus of this investigation was to find out whether the suspicious entities were doing front running in the trade of PNB MetLife India Insurance with the help of other people, including dealers and fund managers. It also sought to find whether SEBI rules have been violated or not.

The investigation, which was conducted from January 1, 2021, to July 19, 2024, revealed that most of the trading decisions at PNB MetLife were assigned to Dagli for execution. The investigation found that Dagli, the equity dealer of PNB MetLife, and his brother Tejas Dagli, an equity sales trader at Investec, obtained confidential, non-public information about the upcoming trading decisions of PNB MetLife and Investec.

This information was further used to make trading decisions and shared with Sandeep Shambharkar, who executed front-running trades through the accounts of Dhanmata Realty Private Ltd (DRPL), Worthy Distributors Private Ltd (WDPL), and Pragnesh Sanghvi.

DRPL and WDPL Directors Arpan Kirtikumar Shah, Kabita Saha, and Jignesh Nikulbhai Dabhi were also involved in carrying out this task. The SEBI said that 6,766 front-running trades have been executed. A profit of Rs 21,15,78,005 was earned from this.

Front-running is an illegal practice, entailing a trader or broker receiving confidential information about a large company or institution making a bulk order in a particular stock and creating a position in that particular stock before the big order is executed. In such a situation, when the order is executed by a big company or institution, the trader or broker gets the benefit of the sudden rise in that stock.


Protestors attack Allu Arjun’s Hyderabad house over Pushpa, 2 stampede, 6 arrested. Watch

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Protestors attack Allu Arjun’s Hyderabad house over Pushpa, 2 stampede, 6 arrested. Watch


Last updated:

The protesters pelted stones at the actor’s residence, held placards and staged a protest. They also raised slogans against the actor and held him responsible for the death of a woman in the stampede at Sandhya theater on December 4.

Vandalism in Allu Arjun's house. (x)

Vandalism in Allu Arjun’s house. (x)

Many members of Osmania University on Sunday afternoon Tollywood star entered Allu Arjun’s house Property damaged in Jubilee Hills, Hyderabad.

The protesters pelted stones at the actor’s residence, held placards and staged a protest. They also raised slogans against the actor and held him responsible for the death of a woman in the stampede at Sandhya theater during the screening of the premiere show of the film Pushpa 2.

Police said in a release that one of the protesters who reached Allu Arjun’s house climbed the wall of the premises and started throwing tomatoes. When the security staff protested and persuaded them to come down from the wall, they scuffled with the security staff and damaged some flower pots, the release said.

According to the news agency, six protesters, who are said to be members of the Joint Action Committee (JAC) of Osmania University, were detained. ANI Informed. Members of the Joint Action Committee of Osmania University were demanding a compensation of Rs 1 crore for the victim’s family. A case has been registered against six people and some others involved in the vandalism.

A video of the incident shows several people entering the actor’s house and damaging property. The protesters also broke the flower pots installed inside the complex.

Another video shows protesters burning Allu Arjun’s effigy outside his residence.

Notably, Allu Arjun was not present at his residence at the time of the incident.

Allu Arjun’s father’s reaction

Allu Arjun’s father, Allu Arvind reacted on stone pelting attack And said that such incidents should not be encouraged.

Speaking to the press at the house he shares with Allu Arjun, Allu Aravind said, “Everyone has seen what happened at our house today. But now the time has come for us to act accordingly. Right now is not the right time for us to react on anything.” He further said that the police have arrested the vandals and registered a case against them. “No one should promote such incidents.” “But I will not react just because the media is here. Now is the time to exercise patience. The law will take its course,” he concluded.

CM Reddy condemned the attack, ordered action against the accused

Telangana Chief Minister Revanth Reddy condemned the incident of stone pelting at the actor’s residence and ordered the state DGP and the city police commissioner to take strict action against the protesters.

He said, “I condemn the attack on the houses of film personalities. I order the state DGP and the city police commissioner to take strict action in matters of law and order. No negligence will be tolerated in this matter. Senior officers should be careful to ensure that policemen who are not involved in the evening theater incident do not react,” he said in a post on X.

BJP condemned the attack, targeted the law and order situation

Union Minister and BJP leader G Kishan Reddy condemned the incident of stone pelting at the actor’s residence and said the incident highlights the failure of law and order under the Congress government in Telangana.

“The incident of stone pelting at the residence of actor Allu Arjun in Hyderabad highlights the shocking failure of law and order under the Congress government in the state. The incidents reflect the administration’s inability to ensure the safety and security of citizens. Targeting artistes and the film industry has become a dangerous norm under the Congress government in Telangana. Is this Congress supported/sponsored?” he said in a post on X.

Youth Congress behind the vandalism incident?

According to the pictures of protesters surfaced on social media, it is alleged that Congress has organized an attack on Allu Arjun’s residence. In the pictures, Kodangal Youth Congress President Srinivas Reddy, an accused in the vandalism incident, is seen with CM Reddy. Kodangal is the constituency of Revanth Reddy.

According to reports, Srinivas Reddy led the protest and was one of those who vandalized the actor’s Jubilee Hills residence.

Allu Arjun urges fans to act responsibly

Earlier today, Allu Arjun, Issued a statement on social media urging fans to act responsiblyHe said, “I appeal to all my fans, as always, to express their feelings responsibly and not to resort to any kind of abusive language or behavior both online and offline. If anyone posts indecent messages by pretending to be my fan with fake ID and fake profile, strict action will be taken against him. I request fans not to engage with such posts.”

4th December Stampede

A woman died in a tragic incident that took place during the screening of Pushpa 2 at Sandhya Theater in Hyderabad on December 4. Chaos broke out as a huge crowd gathered to catch a glimpse of the film’s star Allu Arjun, who was attending the event with music director Devi Sri Prasad. During the uproar, the main gate of the theater collapsed, leading to a stampede. A 35-year-old woman lost her life and her 9-year-old son was seriously injured.

However, the deceased woman’s husband had said that he was ready to withdraw the case. In his statement, he shared that he does not hold Allu Arjun responsible for the stampede in which his wife lost her life. “I am ready to withdraw the case. I was not aware of the arrest and Allu Arjun has nothing to do with the stampede in which my wife died,” he had said.

Allu Arjun arrested, sent to judicial custody, then granted bail

On December 13, the actor was arrested by a local court in the stampede case and sent to 14-day judicial custody, but later the same day, the Telangana High Court granted him interim bail. He was released from jail on 14 December.

The actor was booked under sections 105 and 118(1) of the BNS Act. He has been charged with criminal negligence and intentionally causing hurt.

The court had ruled that there was no malicious action against the Tollywood actor in the ongoing case. The court provided a significant relief to the actor by granting him interim bail for a period of four weeks. Additionally, the court set a personal bail bond of Rs 50,000.

ruckus in the assembly

The allegations against the Pushpa actor grew further when Telangana Chief Minister Revanth Reddy alleged that he visited the theater during the screening of the film despite not getting police permission, a charge denied by Allu Arjun.

Reddy further said that even after the death of the woman in the stampede, the film star did not leave the cinema hall, after which the police had to forcibly throw him out. Reddy also criticized Allu Arjun for holding a road show with co-actress Rashmika Mandanna despite the huge number of people and waving towards the crowd, creating a risk of a stampede. He said the theater management had given a letter to the police on December 2 demanding security for the visit of top actors and others on the ill-fated day.

responding to the allegations Allu Arjun said that he has no knowledge about the stampede incident And he came to know about it only the next morning when a case was registered against him, due to which he could not go to meet the family. He also expressed condolences to the victim’s family over the “unfortunate incident”.

The film star dismissed the allegations made by CM Revanth Reddy and Telangana MLA Akbaruddin Owaisi as “misinformation” and claimed that these allegations amount to “character assassination” against him.

news movies Protestors attack Allu Arjun’s Hyderabad house over Pushpa, 2 stampede, 6 arrested. Watch




India and Kuwait sign defense pact after PM Modi meets top Kuwaiti leaders, elevate ties to strategic partnership. india news

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India and Kuwait sign defense pact after PM Modi meets top Kuwaiti leaders, elevate ties to strategic partnership. india news


India and Kuwait on Sunday elevated their ties to a strategic partnership, signing a key agreement on boosting defense cooperation and vowing to soon finalize an ambitious investment pact, as Prime Minister Narendra Modi met Emir Sheikh Meshal. Had extensive conversations with al-Ahmad al-Jaber al- Sabah and other top leaders of the Gulf country gave broad based bilateral relations.

Both sides also discussed ways to transform the existing ‘buyer-seller’ relationship in the energy sector into a broader engagement with greater cooperation in the upstream and downstream sectors and agreed to explore Kuwait’s participation in India’s Strategic Petroleum Reserves Programme. of.

Apart from the Emir, Modi held separate talks with Kuwaiti Prime Minister Ahmed Abdullah Al-Ahmad Al-Sabah and Crown Prince Sabah Al-Khalid Al-Hamad Al-Mubarak Al-Sabah, seeking to provide a new impetus to overall ties. More attention was paid to.

“This visit was historic and will greatly enhance our bilateral relations,” Modi said at the ‘X’ at the end of his two-day visit. In a special gesture, the Kuwaiti Prime Minister came to see Modi at the airport.

According to a joint statement, both sides directed each other’s respective officials to “expeditiously pursue and complete the ongoing negotiations on a bilateral investment treaty”.

To enhance energy cooperation, both sides expressed keenness to support companies from both countries to enhance cooperation in the field of oil and gas exploration and production, refining and engineering services and petrochemical industries, it said.

A total of four agreements were signed, including a Memorandum of Understanding (MoU) on Defence. Other agreements will provide cooperation in the areas of sports, culture and solar energy.

Arun Kumar Chatterjee, Secretary (Overseas Indian Affairs) in the ministry, said the MoU on defense will provide for cooperation in defense industries, supply of defense equipment, joint exercises, training, exchange of personnel and experts and research and development. Ministry of External Affairs (MEA) said in a media briefing.

The joint statement said the defense agreement will facilitate cooperation in coastal defence, maritime security and joint development and production of defense equipment.

At the talks, both sides unequivocally condemned terrorism in all its forms, including cross-border terrorism, and called for disrupting terrorism financing networks and safe havens.

Both sides also agreed to enhance counter-terrorism cooperation, sharing of information and intelligence and exchange of best practices and technologies.

In their delegation-level talks, the two Prime Ministers discussed a roadmap to strengthen the strategic partnership in the areas of trade, investment, energy, defence, security, health, education, technology, cultural and people-to-people ties. Ministry of External Affairs.

In a post on ‘X’, Modi described his talks with his Kuwaiti counterpart as “fruitful”.

He said, “Our talks covered the entire gamut of India-Kuwait relations, including trade, commerce, people-to-people relations and much more. Key MoUs and agreements were also exchanged, enhancing bilateral relations. will be strengthened.”

The Indian Prime Minister invited a delegation of Kuwaiti Investment Authority and other stakeholders to visit India to look at new opportunities in sectors including energy, defence, medical devices, pharma and food parks, among others.

In the meetings, the Indian side also showed keen interest in intensifying its cooperation with the Gulf Cooperation Council (GCC) through Kuwait’s chairmanship of the influential group.

In their discussions, Modi and the Amir mainly discussed boosting ties in the areas of information technology, pharmaceuticals, fintech, infrastructure and security.

Modi thanked the Emir for ensuring the well-being of over one million Indians in Kuwait, while the Kuwaiti leader lauded the community’s contribution to the Gulf country’s development journey.

“Excellent meeting with His Highness the Amir of Kuwait Sheikh Meshaal Al-Ahmad Al-Jaber Al Sabah. We discussed cooperation in key sectors like pharmaceuticals, IT, fintech, infrastructure and security,” Modi said in another post on ‘X’ ”

“In line with the close ties between our countries, we have elevated our partnership to the strategic level and I am optimistic that our friendship will grow even further in the times to come,” he said.

Chatterjee said the Indian side is confident that “this historic visit of the Prime Minister will open a new chapter in relations between India and Kuwait.”

Both sides have been able to identify several important areas of cooperation and both sides will work to complete them, he said.

In the meeting with Crown Prince Al-Mubarak Al-Sabah, Modi told that India attaches utmost importance to its bilateral relations with Kuwait.

Modi said, “The discussions covered ways to deepen economic and cultural ties between our countries. We are extremely optimistic about the India-Kuwait strategic partnership reaching new heights of success in the times to come.”

The External Affairs Ministry said the two leaders also stressed close coordination between the two sides at the United Nations and other multilateral fora.

“The Prime Minister expressed confidence that India-GCC relations will further strengthen under Kuwait’s chairmanship,” it said.

The Crown Prince hosted a banquet in Modi’s honour.

In their delegation-level talks, the two Prime Ministers welcomed the recent signing of the Joint Commission for Cooperation (JCC).

Under the JCC, new Joint Working Groups have been established in the areas of trade, investment, education, technology, agriculture, security and culture in addition to the existing JWGs on health, manpower and hydrocarbons.

The MoUs include a cultural exchange program and another ‘Working Program on Cooperation in the Field of Sports’. Fourth, there is a framework agreement on Kuwait’s joining the International Solar Alliance.

Earlier in the day, Modi was given a ceremonial welcome at the Bayan Palace and was received by the Kuwaiti PM.

External Affairs Ministry spokesperson Randhir Jaiswal said the talks between the Prime Minister and the Emir focused on exploring ways to take India-Kuwait relations to “new heights”.

In their discussions, Modi and the Kuwaiti Emir recalled the strong historical and friendly relations between the two countries and reaffirmed their full commitment to further expand and deepen bilateral cooperation.

The External Affairs Ministry said Modi appreciated the new initiatives being taken by Kuwait to fulfill its ‘Vision 2035’ and praised the emir for successfully hosting the Gulf Cooperation Council (GCC) summit earlier this month. Congratulated.

The GCC is an influential grouping that includes the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait. The total volume of India’s trade with GCC countries in the financial year 2022-23 was US$ 184.46 billion.

Modi also expressed his gratitude for inviting him as ‘guest of honour’ to the opening ceremony of the Arabian Gulf Cup on Saturday.

The Ministry of External Affairs said in a statement that the emir respected Modi’s sentiments and appreciated India’s role as a valued partner in Kuwait and the Gulf region.

It said that Kuwaiti leaders look forward to India’s greater role and contribution towards realizing Kuwait’s ‘Vision 2035’.

Modi invited the Amir, Crown Prince and Kuwaiti PM to visit India.

The Gulf country is one of India’s top trading partners with bilateral trade valued at US$10.47 billion in fiscal year 2023-24.

Kuwait is India’s sixth largest crude oil supplier, meeting 3 percent of the country’s energy needs.

Indian exports to Kuwait reached US$2 billion for the first time, while investments by Kuwait Investment Authority in India exceeded US$10 billion.

The last Indian Prime Minister to visit Kuwait was Indira Gandhi in 1981. The Indian community is the largest expatriate community in Kuwait.


Russia’s Putin pledges ‘destruction’ on Ukraine after Kazan drone attack | Russia-Ukraine war News

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Russia’s Putin pledges ‘destruction’ on Ukraine after Kazan drone attack | Russia-Ukraine war News


Russia accuses Ukraine of ‘massive’ drone attack that hit a luxury apartment block in the city, some 1,000km (620 miles) from the frontier.

Russian President Vladimir Putin has pledged retaliation after Ukrainian drones struck residential buildings in the city of Kazan in Russia’s Tatarstan region.

Putin made the comments via videolink on Sunday while addressing the local leader of Tatarstan in a road-opening ceremony.

“Whoever, and however much they try to destroy, they will face many times more destruction themselves and will regret what they are trying to do in our country,” Putin said.

On Saturday morning, six Ukrainian drones hit residential buildings in Kazan and a seventh struck an industrial facility. No injuries from the attack were officially reported, while media reports indicated that three people suffered cuts from shattered window glass.

A view shows a damaged multi-storey residential building following an alleged Ukrainian drone attack in the course of Russia-Ukraine conflict, in Kazan
A view shows a damaged multistorey residential building following an alleged Ukrainian drone attack in the course of the Russia-Ukraine conflict, in Kazan, Russia [Reuters]

Videos on Russian social media networks showed drones hitting a high-rise glass building and setting off fireballs, though there were no reported casualties as a result of the strike.

Kazan is more than 1,000km (600 miles) from the Ukrainian border. Although Ukraine has not claimed responsibility for the attack, it is considered a response to a Russian missile strike against Kyiv.

Putin has previously threatened to target the centre of Kyiv with a hypersonic ballistic missile in response to Ukrainian attacks on Russian territory.

Putin’s threat comes as Russia claimed new advances on the battlefield in eastern Ukraine.

The Ministry of Defence said on Telegram that its troops had “liberated” the villages of Lozova in the northeastern Kharkiv region and Krasnoye – called Sontsivka in Ukraine.

The latter is close to the resource hub of Kurakhove, which Russia has almost encircled and would be a key prize in Moscow’s attempt to capture the entire Donetsk region.

Russia has accelerated its advance across eastern Ukraine in recent months, looking to secure as much territory as possible before US President-elect Donald Trump comes to power in January.

The Republican has promised to bring a swift end to the nearly three-year-long conflict, without proposing any concrete terms for a ceasefire or peace deal.

Moscow’s army claims to have seized more than 190 Ukrainian settlements this year, with Kyiv struggling to hold the line in the face of manpower and ammunition shortages.


Tributes to nine-year-old killed in Christmas market attack

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Tributes to nine-year-old killed in Christmas market attack


A local fire brigade has paid tribute to a nine-year-old killed in an attack on a German Christmas market.

André Gleißner died after a car drove into a crowd of shoppers at the market in Magdeburg on Friday evening, according to the Schöppenstedt fire department.

In a statement they said he was a member of the children’s fire brigade in Warle, which is about an hour’s drive from Magdeburg.

Four women, aged 45, 52, 67 and 75, also died in the attack. Authorities are holding a suspect in pre-trial detention on counts of murder, attempted murder and dangerous bodily harm.

“Our thoughts are with André’s relatives, who we also want to support during this difficult time,” the fire department’s statement said.

The Lower Saxony youth fire brigade also paid tribute to the nine-year-old.

“Our condolences go out to his family, his friends and everyone who was close to him,” it said in a statement.

“We stand by their side in these difficult times and express our deepest sympathy,” it added.

The attack on Friday left more than 200 people injured, with some left in a critical condition.

The four women who were also killed have not yet been identified.

The car ploughed into the crowded market via an emergency vehicle access lane about 19:00 local time (18:00 GMT) on Friday, police said.

Eyewitnesses described jumping out of the car’s path, fleeing or hiding. Unverified social media footage showed the vehicle speeding through a pedestrian walkway between stalls.

Police said the driver then returned to the road and was forced to stop in traffic, where he was arrested.

Around 100 police, medics and firefighters attended the scene, according to city officials.

A 50-year-old man has been remanded in custody on suspicion of five counts of murder, multiple attempted murders and dangerous bodily harm, police said.

The suspect has been identified in local media as Taleb al-Abdulmohsen, a Saudi-born psychiatrist who arrived in Germany in 2006.

The motive behind the attack remains unclear but authorities say they believe the driver acted alone.

German authorities are facing questions about security after reports they were warned last year that the suspect could pose a threat.

The Saudi foreign ministry said it warned the German government about al-Abdulmohsen’s extremist views, but received no response.


GST panel puts off call on lower rates for insurance

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GST panel puts off call on lower rates for insurance


GST panel puts off call on lower rates for insurance

JAISALMER: The GST Council on Saturday decided to waive tax on gene therapy used to treat cancer and reduced the levy on fortified rice kernels used in PDS to 5%, but deferred a call on lower rates for health and term assurance and food delivery services as more consultations were required.The all-powerful panel led by the union finance minister, with states as members, also rejected calls for including ATF (aviation turbine fuel) under GST, as was proposed by airlines and the civil aviation ministry.
It has sought to ease life for businesses by deciding in-principle to move towards a simpler registration regime for small businesses and also permit temporary registration of taxpayers to make certain payments. Both the registration-related changes will require amendments to the law. Finance minister Nirmala Sitharaman told reporters that the much-awaited decision on term and health insurance required further consultation and insurance regulator IRDAI’s inputs had also been sought.
The issue is expected to be discussed within the group of ministers led by Bihar deputy CM Samrat Chaudhary. The other GoMs – on rate rationalisation and compensation cess – will also undertake further deliberations.
“The issue of whether charges collected by municipalities for granting FSI, including additional FSI, chargeable to GST on reverse charge basis was brought up in the Council. The matter was deferred for further examination on the behest of the central govt on the grounds that this amount relates to municipalities or local authority,” an official release said.
Further, Sitharaman said, based on Andhra Pradesh’s request for additional 1% cess for a limited period to deal with floods in the state, a new GoM has been set up to look at the legal and structural issues, and recommend a uniform policy on imposition of levy in case of a natural disaster in a state. A few years ago, a mechanism like this was put in place for Kerala, but a uniform system may be put in place for the future.
The council decided that all used cars will face 18% GST, including electric vehicles, on the margin of suppliers. While there will be no tax transactions involving individuals, the levy will be applicable in case of deals involving companies or used-car sellers. The Centre, Sitharaman said, had proposed 5% tax on EVs, but states wanted a higher levy. There was a spate of clarifications by the GST Council, which included one on ready-to-eat popcorns with the pre-packed ones with salt and spices going to attract 12%, in line with the tax on namkeens. Those with sugar, which are caramelised will face 18% tax.
Similarly, the council said transaction of vouchers will not attract tax as they were neither supply of goods nor services. Further, it clarified that small businesses covered by the reverse charge mechanism will not have to pay GST if they paid rent to unregistered landlords. Besides, no GST has to be paid on ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms.




FDI Flow Into India From Gulf Countries Surges To $24.54 Bn In 12 Years | Economy News

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FDI Flow Into India From Gulf Countries Surges To .54 Bn In 12 Years | Economy News


New Delhi: FDI flows into India from the Gulf Cooperation Council countries between September 2013 to September 2024 surged to over $24.54 billion, which is an 8-fold increase compared to the corresponding figure of $3.046 billion FDI that came from these countries during the period between April 2000 and September 2013, according to data compiled by the Commerce and Industry Ministry.  

The figures also show that as much as 89 per cent of the FDI flows into India from the GCC countries came in the last 10 years, reflecting the strengthening economic ties between India and the Gulf region.

With Kuwait currently chairing the Gulf Cooperation Council (GCC), Prime Minister Narendra Modi’s visit to the emirate is expected to bolster India’s engagement with the influential bloc, comprising Bahrain, Oman, Qatar, Saudi Arabia, the UAE, and Kuwait.

PM Modi on Saturday afternoon arrived in Kuwait, becoming the first Indian Prime Minister to visit the Gulf nation in 43 years. He said the Kuwait Investment Authority has invested more than $10 billion in India, reinforcing the financial ties between the two nations.

The Prime Minister also mentioned that the Kuwait Investment Authority, which is the sovereign wealth fund, has made substantial investments in India and there is a growing interest in investing in India now.

In an interview with Kuwait News Agency (Kuna), PM Modi said that trade and commerce have been important pillars of the bilateral relationship between Kuwait and India, with two-way trade on the rise.

“Trade and commerce have been important pillars of our bilateral relationship. Our bilateral trade has been on an upswing. Our energy partnership adds a unique value to our bilateral trade,” the Prime Minister told Kuna Director General Fatma Al-Salem.

Kuwait is a critical partner for India, ranking as the sixth-largest supplier of crude oil and meeting 3 per cent of India’s energy needs. Bilateral trade between the two countries reached $10.47 billion in 2023-24, with Indian exports growing 34.7 per cent (year-on-year).

Meanwhile, India’s trade with GCC countries stood at a robust $184.46 billion in 2022-23. PM Modi told Kuna news agency that “we are happy to see ‘Made in India’ products, particularly in automobile, electrical and mechanical machinery, and telecom segments making new inroads in Kuwait”.

“India today is manufacturing world-class products at the most affordable cost. Diversification to non-oil trade is key to achieving greater bilateral trade,” PM Modi was quoted as saying.


German Christmas market attack suspect to face murder charges | Crime News

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German Christmas market attack suspect to face murder charges | Crime News


A man accused of driving a car into crowds at a German Christmas market, killing five people and injuring more than 200, has been detained on multiple charges of murder and attempted murder.

The Magdeburg police department said in a statement on Sunday the man had been issued a warrant for pre-trial detention on charges of murder on five counts as well as multiple counts of attempted murder and grievous bodily harm.

Those killed were a nine-year-old boy and four women aged 52, 45, 75 and 67, the police statement said. Among the wounded, about 40 had serious or critical injuries.

Authorities reported that the suspected attacker used emergency exit routes to access the Christmas market grounds, where he accelerated and drove into the crowds, striking more than 200 people in a three-minute rampage. He was arrested at the scene.

Simmering tensions

The attack on Friday evening in the central city of Magdeburg shocked Germany and reignited simmering tensions around the issue of migration.

The suspect, who was named as Taleb A, is a 50-year-old psychiatrist from Saudi Arabia with a history of anti-Islam rhetoric, who has resided in Germany for nearly two decades.

The motive for the attack remains unclear, but the Magdeburg prosecutor, Horst Nopens, said on Saturday that one possible factor could be what he called the suspect’s frustration with Germany’s handling of Saudi refugees.

The suspected attacker had made online death threats against German citizens and had a history of quarrelling with state authorities, leading German media to question whether the government could have done more to prevent the attack.

News magazine Der Spiegel, quoting security sources, said the Saudi secret service had warned Germany’s spy agency BND a year ago about a tweet in which Taleb threatened Germany would pay a “price” for its treatment of Saudi refugees.

And in August he wrote on social media: “Is there a path to justice in Germany without blowing up a German embassy or randomly slaughtering German citizens?… If anyone knows it, please let me know.”

The Die Welt daily reported, also quoting security sources, that German state and federal police had carried out a “risk assessment” on Taleb last year but concluded that he posed “no specific danger”.

Emboldening the far right

Police reported scuffles and “minor disturbances” during a far-right demonstration in Magdeburg on Saturday night, attended by approximately 2,100 people.

Protesters, some wearing black balaclavas, held a large banner reading “remigration”, a term used by far-right supporters advocating for the mass deportation of immigrants and individuals considered not ethnically German.

The incident comes before a pivotal election in Germany on February 23, prompting sharp criticism from far-right and far-left parties opposed to the government of Chancellor Olaf Scholz.

The far-right Alternative for Germany (AfD)’s parliamentary head Bernd Baumann demanded Scholz call a special session of the Bundestag on the “desolate” security situation, arguing that “this is the least that we owe the victims.”

Meanwhile, the head of the far-left Sahra Wagenknecht Alliance (BSW) party, Sahra Wagenknecht, demanded that Interior Minister Nancy Faeser explain “why so many tips and warnings were ignored beforehand”.

Scholz has condemned the “terrible, insane” attack, calling for national unity.

In the past, the suspect had voiced support on social media platform X for the AfD as well as for United States billionaire Elon Musk, who has backed the AfD. The party has a strong support base in former East Germany, where Magdeburg is located. Its members, including the candidate for chancellor Alice Weidel, planned a rally in Magdeburg on Monday evening.