Coca-Cola India President Sanket Ray stated: “We welcome Jubilant Bhartia Group to the Coca-Cola System in India.
Coca-Cola, the global beverage giant, has sold 40 per cent stake of its Indian bottling operation, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to Jubilant Bhartia Group. Whilst the financial details remain undisclosed officially, media sources suggest the transaction value approximates Rs 10,000 crore. “The Coca-Cola Company today announced that it has reached an agreement with Jubilant Bhartia Group, a multi-billion conglomerate with global presence in diverse sectors, to acquire 40 per cent stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt Ltd,” according to a joint announcement quoted by PTI. The statement indicated that these modifications and investments mark a crucial development for Coca-Cola in its ongoing mission to refresh the world and create impact. Regarding the transaction, Coca-Cola India President Sanket Ray stated: “We welcome Jubilant Bhartia Group to the Coca-Cola System in India. With its diverse experience in various sectors, Jubilant brings decades of rich experience that will help accelerate the Coca-Cola system, enabling us to win in the market and provide greater value to local communities and consumers.” India ranks as Coca-Cola’s fifth-largest market worldwide. The company, headquartered in Atlanta, is reducing its bottling operations globally as part of its asset-light approach. Hindustan Coca-Cola Beverages CEO Juan Pablo Rodriguez commented: “This strategic investment represents an important milestone in our journey. Jubilant Bhartia Group’s expertise, complements our strengths, ensuring that we continue delivering exceptional value to our stakeholders while driving innovation and sustainable progress.”
Commander Hassan Abdul Ghani said the city and its military airport are fully ‘liberated’.
Fighters in Syria who have overthrown former President Bashar al-Assad say they have taken full control of the eastern city of Deir Az Zor, after clashes with Kurdish-led forces who briefly held it after pro-government soldiers fled.
Commander Hassan Abdul Ghani, spokesman for the advancing forces, announced the takeover of Deir Az Zor in a post on Telegram saying the city and its military airport are fully “liberated”.
In a follow-up statement on Wednesday, Ghani said the fighters “are continuing to advance in the areas and towns of Deir Az Zor countryside”.
The capture is the latest in a string of victories for the coalition of opposition forces who seized several cities – including the capital, Damascus – in an 11-day blitz.
On Sunday, al-Assad fled the country after the rebel forces, led by Hayat Tahrir al-Shams (HTS), closed in on Damascus.
Al-Assad’s Prime Minister Mohammed al-Jalali has since agreed to transfer power to an HTS-led transitional government, headed by Prime Minister Mohammed al-Bashir.
Members of the Kurdish-led Syrian Democratic Forces hold a flag in Deir Az Zor, Syria, on December 7, 2024 [Orhan Qereman/Reuters]
The Kurdish-led Syrian Democratic Forces (SDF) held Deir Az Zor city for several days after Syrian government forces, which previously controlled areas of it, withdrew.
The SDF still control eastern sections of the governorate, across the Euphrates river, where the coalition fighters say they are advancing.
The power struggle in Deir Az Zor, which was a critical battleground in the fight against ISIL (ISIS) from 2014-2017, comes after rebel forces also wrested control of Kurdish-led forces in the northern city of Manbij.
On Wednesday, the SDF confirmed that the United States, which backs the group, had mediated a ceasefire agreement between it and the Turkish-backed Syrian National Army (SNA) faction there.
Under the deal, aimed to ensure the protection of civilians, the Kurdish-led SDF agreed to “withdraw from the area as soon as possible”, said commander Mazloum Abdi, also known as Mazloum Kobani.
Sanjay Malhotra has officially assumed office as the 26th Governor of the Reserve Bank of India (RBI), succeeding Shaktikanta Das whose tenure ended on December 10. Maholtra took charge on Wednesday and is all set to make his first public address to the media at 3 pm. This marks the beginning of his leadership at the central bank.
Sanjay Malhotra’s appointment as RBI Governor has raised eyebrows as he is the first since Duvvuri Subbarao to move directly from the Finance Ministry to the central bank—a transition that has caught many in government circles by surprise.
Sanjay Malhotra begins his three-year term as RBI Governor. He became the second consecutive career civil servant to head the central bank. Before this, he held the position of Revenue Secretary.
Malhotra , the 26th Governor of the Reserve Bank of India is an accomplished IAS officer from the 1990 Rajasthan cadre. He holds a Computer Science Engineering degree from IIT Kanpur and a Master’s in Public Policy from Princeton University, USA.
Tawfiq Diam’s wife and four children were killed in a chemical attack
Tawfiq Diam is emotional because it’s the first time he’s been able to speak freely about what happened to his family back in 2018, in Douma in the Eastern Ghouta suburb of Damascus.
“If I’d spoken out before, Bashar al-Assad’s forces would have cut off my tongue. They would have slit my throat. We were not allowed to talk about it,” he says.
Tawfiq’s wife and his four children aged between eight and 12 – Joudy, Mohammed, Ali and Qamar – were killed in a chemical attack on 7 April 2018.
The Organisation for the Prohibition of Chemical Weapons (OPCW), a global watchdog, said in a report last year that it believed a Syrian air force helicopter departed from the nearby Dumayr air base shortly after 19:00 that day and dropped two yellow cylinders which hit two apartment buildings, releasing highly concentrated chlorine gas.
Tawfiq said his family was just outside his ground floor home when the bombs hit.
“I heard an explosion and people shouted on the streets ‘chemicals, chemicals’. I came running out. There was a foul smell. I saw yellow foam coming out of people’s mouths. My children were not able to breathe, they were choking. I saw people lying in the street,” he says.
The OPCW says at least 43 people were killed. Tawfiq says there were more than 100 dead.
“Even I almost died. I was in hospital for 10 days. Just five or six men in this compound survived,” he says.
Assad’s government denied ever using chemical weapons. And its ally Russia said the Douma attack was “staged”.
Eastern Ghouta was one of the most fiercely contested areas for five long years during Syria’s civil war.
The regime eventually laid siege to it and, along with its ally Russia, indiscriminately bombed the area as it sought to gain control of it from rebel fighters led by the group Jaish al-Islam.
Driving through it now, the destruction wrought upon it is all around us. It’s hard to find a single building that doesn’t bear the scars of war, many so badly bombed out, they’re just shells of structures.
On more than one occasion in Eastern Ghouta, chemical weapons – banned by the Geneva protocol and the Chemical Weapons Convention – were used to attack Douma.
Bashar al-Assad’s forces captured Douma shortly after the chlorine attack, and the stories of the victims were never fully heard.
“Not a day goes by when I don’t think of my children,” Tawfiq says pulling out the only photo he has of them, his eyes welling up with tears.
Aamir Peerzada/BBC
Khalid Naseer lost two young children and his pregnant wife in the attack
As we talk to Tawfiq, more people come up to us to tell us their stories.
Khalid Naseer says his baby daughter Nour, his two-year-old son Omar, and his pregnant wife Fatima were also killed in the 2018 chlorine attack.
“Those who were killed were mostly children and women.”
The anger he’s had to suppress for six years comes out.
“The whole world knows Bashar al-Assad is an oppressor and a liar, and that he killed his own people. My wife was killed two days before she was due to deliver our baby,” he shouts, emotions running high.
The chlorine gas attack was not the only time chemical weapons were used in the area.
In 2013, rockets containing the nerve agent sarin were fired at several rebel-held suburbs in Eastern and Western Ghouta, killing hundreds of people. UN experts confirmed the use of sarin but they were not asked to ascribe any blame.
Assad denied his forces fired the rockets, but he did agree to sign the Chemical Weapons Convention and destroy Syria’s declared chemical arsenal.
Between 2013 to 2018, Human Rights Watch documented at least 85 chemical weapons attacks in Syria, accusing the Syrian government of being responsible for a majority of them.
In addition to Douma in 2018, the OPCW’s Investigation and Identification Team has identified the Syrian military as the perpetrator of four other cases of chemical weapons use in 2017 and 2018. An earlier fact-finding mission, which was not mandated to identify perpetrators, found chemical weapons were used in 20 instances.
Khalid and Tawfiq took us to a mound by the side of a road, a short drive away. They believe this is where the regime took their family’s bodies and buried them in a mass grave.
Looking down on the ground, amid gravel, mud and stones, pieces of bones are visible, although it’s not possible to tell if they are human remains.
“This is the first time I have set foot here, I swear to God. If I had tried to come here earlier, they (the regime) would have executed me”, says Tawfiq.
“On Eid, when I used to miss my family, I would ride by the side of this road and quickly glance towards this (the mound). It made me cry.”
Tawfiq wants the graves to be dug up, so he can give his family a dignified funeral.
Aamir Peerzada/BBC
‘I want the truth to come out’, Abdalrahman Hijazi says
“We want fresh investigations into the attack,” says Khalid. He says the testimony given by many to the OPCW fact-finding mission in 2019 was not reliable.
It’s a claim corroborated by Abdul Rahman Hijazi, one of the eyewitnesses who testified before the mission, who says he was forced to give the regime’s version of events.
“Intelligence officers detained me and told me to lie. They told me to say that people were killed because of dust inhalation not chemicals. They threatened me, that if I didn’t agree, my family will not be safe. They told me my house was surrounded by the regime’s men,” he said.
One of the findings in the 2019 OPCW report on Douma states: “Some witnesses stated that many people died in the hospital on 7 April as result of the heavy shelling and/or suffocation due to inhalation of smoke and dust.”
Abdul Rahman says he and his family were shunned by the community for years after he gave the testimony. He found it tough to get a job.
Now he also wants a fresh investigation.
“I want the truth to come out. I’m unable to sleep. I want justice for every parent.”
Additional reporting by Aamir Peerzada, Sanjay Ganguly and Leen Al Saadi
This would make the Apple Watch Ultra the first mainstream smartwatch with a satellite technology.
Apple is planning to bring a “texts via satellite” facility to Apple Watch Ultra 3, the company’s top-of-the-line smartwatch model which is due for a launch next year, Bloomberg reported.
(FILES) An Apple Watch Series 9 carbon neutral device is displayed for sale at The Grove Apple retail store on release day in Los Angeles, California, on September 22, 2023. (Representational/Photo by Patrick T. Fallon/AFP)
With the satellite capability, users would be able to send text messages when they don’t have a cellular or Wi-Fi connection, the report said. The satellites provider would be Globalstar Inc., a US telecommunications firm, it added.
This would make the Apple Watch Ultra 3 the first mainstream smartwatch with a satellite technology. However, the first device from the Tim Cook-helmed company with a satellite feature was 2022’s iPhone 14, which allowed users to stay in contact with emergency services while off the grid.
Last year, Apple expanded iPhone 14’s satellite technology to allow for contact with roadside assistance providers. This year, the technology was upgraded to let people use it to text anyone via iMessage.
Apple and Globalstar have expanded their partnership over the past few years. In November, the Cupertino-based tech giant invested about $1.5 billion in GlobalStar and, in exchange, took a 20% stake in it.
According to Bloomberg, after it reported the plans, the shares of Globalstar surged about 15% to $2.43 as of 2:26 pm (Wednesday, 00:56 am in India) while the iPhone maker gained less than 1% to $247.53.
Blood pressure feature also coming?
Further, the Bloomberg report stated that Apple is ramping up work on a blood-pressure feature as well, aiming to entice hikers and health-conscience consumers into upgrading their devices.
The feature would monitor if Watch users have a high blood pressure. This, too, is likely to come next year, thought it was previously set for a 2023 release.
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After the fall of Syria’s Bashar al-Assad, Israel has been encroaching on its neighbour’s territory.
Since al-Assad’s dramatic flight to Russia on Sunday, Israel has attacked Syria more than 400 times and, despite UN protests, launched a military incursion into the buffer zone that has separated the two countries since 1974.
These aggressions have come as the country tries to transition away from 53 years of dynastic family rule.
In the last few months, Israel has attacked its neighbour Lebanon and has continued to wage a war condemned as genocide on the beleaguered population of Gaza.
But why is Israel now attacking Syria? Here’s everything you need to know.
Why is Israel attacking Syria?
Israel has justified its attacks on Syria for years by claiming it is eliminating Iranian military targets. However, Iran has said none of its forces are currently in Syria.
Now, Israel says it is focused on destroying Syrian military infrastructure.
Israel claims that it is trying to stop weapons from landing in the hands of “extremists”, a definition it has applied to a rotating list of actors, most recently Hayat Tahrir al-Sham (HTS), the primary Syrian opposition group that led the operation to overthrow al-Assad.
What did it hit?
Israel says it has targeted military facilities, including weapon warehouses, ammunition depots, airports, naval bases and research centres.
Israel has also deployed military units to the buffer zone along the Golan Heights separating Syria and Israel. The terrain has been an officially designated demilitarised zone as part of a 1974 UN-brokered ceasefire deal.
(Al Jazeera)
Israel occupies approximately two-thirds of the Golan Heights, with the UN-administered buffer zone spanning a narrow, 400-square-kilometre (154-sq-mile) area. The rest has been controlled by Syria.
Syrian security forces have also reported Israeli tanks advancing from the Golan Heights into Qatana, 10km (six miles) into Syrian territory and close to the capital.
Israeli military sources have denied any such incursion.
(Al Jazeera)
In addition to the more than 100 strikes on the capital, Israel carried out attacks in Al Mayadin in the east, Tartous and Masyaf in the northwest, at the Qusayr crossing with Lebanon, and the Khalkhalah military airport in the south.
HTS leader Ahmed al-Sharaa, also known as Abu Mohammad al-Julani [Al Jazeera]
What is Israel’s justification for this latest attack on a sovereign nation?
That it is acting in its defence.
Benjamin Netanyahu told reporters on Monday that the former Syrian territory along the Golan Heights, which has been classed as a demilitarised zone since 1974, would remain part of Israel “for eternity”.
Israeli Foreign Minister Gideon Sa’ar has defended the Israeli strikes since Sunday, saying Israel’s intention had been solely to target suspected chemical weapons sites and long-range rocket sites – to prevent their seizure by armed groups opposed to Israel’s ongoing offensives on its neighbours.
At a briefing for foreign media, Sa’ar said Israel was acting “in a precautionary manner”.
“That’s why we attacked strategic weapons systems, like, for example, remaining chemical weapons, or long-range missiles and rockets, in order that they not fall into the hands of extremists,” he said.
What does Israel want from Syria?
That’s not clear yet.
The government has not made any statements outside of “acting in the interest of Israel’s defence” that could indicate its intent.
However, some prominent Israeli figures have spoken about their views of what should happen next.
Benny Gantz, leader of the National Unity party and a Netanyahu opponent, told reporters on Monday that this was “an opportunity of historic proportion” for Israel. He called on policymakers to “develop our relations with the Druze, Kurds and other groups in Syria”, suggesting that Israel may be able to develop relations with groups who have traditionally opposed the coalition of armed opposition that deposed al-Assad.
The same day, The Times of Israel interviewed a researcher and former member of the Israeli military, who took Gantz suggestion even further, suggesting that Syria could be broken up into a series of cantons, with each free to cooperate with external actors, including Israel.
“The modern nation-state in the Middle East has failed,” former Colonel Anan Wahabi, who identified as a member of the Druze minority, said.
The ranking methodology by Motilal Oswal involves listing the top 100 companies in descending sequence based on absolute wealth created. (AI image)
Mukesh Ambani-led Reliance Industries has emerged as the biggest wealth creator stock over 2019-24, according to a study report by Motilal Oswal Financial Services. According to the 29th Annual Wealth Creation Study of Motilal Oswal Reliance Industries has maintained its position as the biggest wealth creator consecutively for the sixth time. Reliance Industries has secured the premier position in wealth creation during 2019-24, marking its eleventh achievement as the top performer across seventeen five-year assessment periods. TCS and Infosys continuously remain among the top 10 wealth creators, the study says. Gautam Adani-led Adani Group’s company Adani Green has emerged as the fastest wealth creator over 2019-2024. Adani Enterprises and Adani Power are also in the list of the top 10 fastest wealth creators. Additionally, Adani Enterprises has distinguished itself by achieving the status of Best All-round Wealth Creator.
Top 10 Biggest Wealth Creators (2019-24)
Rank
Company
Wealth created (INR bn)
1
Reliance Industries
11,178
2
TCS
8,312
3
Bharti Airtel
5,449
4
ICICI Bank
5,109
5
State Bank of India
4,176
6
Infosys
3,893
7
Larsen & Toubro
3,530
8
Adani Enterprises
3,408
9
Tata Motors
3,164
10
HCL Technologies
3,150
The ranking methodology by Motilal Oswal involves listing the top 100 companies in descending sequence based on absolute wealth created, provided their stock performance surpasses the benchmark Nifty 50 Total Return Index. These companies are additionally ranked based on speed, calculated as price CAGR for the study duration. The 2019-24 period demonstrates a notable shift, with the top 10 contributors accounting for 37% of total wealth created, marking the lowest proportion in two decades. This indicates a broader distribution of wealth generation across the market, the study says. This trend is further substantiated by the strong performance of mid and small-cap segments, with Nifty Midcap 100 achieving 21% CAGR and Nifty Small Cap 100 registering 18% CAGR during this period.
South Korea’s former defence minister Kim Yong-hyun, who claimed responsibility for the president’s failed attempt to place the country under martial law last week, has tried to take his own life, an official said.
Authorities found him while making the attempt in his detention centre on Tuesday night, Shin Yong-hae, the justice ministry’s correctional agency chief, told lawmakers.
In the wake of Yoon’s shock martial law order, Kim resigned last week along with other top presidential staff.
He had been detained on Sunday for investigation.
Kim had no health problems following the attempt, Shin said.
Kim is among top officials who are facing investigations for their role in Yoon’s short-lived martial law order, which has sparked widespread fury in South Korea.
Tens of thousands of people have taken to the streets calling for the president’s resignation or impeachment.
New Delhi: Supermarket chain Vishal Mega Mart has mobilised Rs 2,400 crore from anchor investors, an update with the exchange showed.
Those who were allotted shares in the anchor round included SBI Mutual Fund, Government of Singapore, Nomura Funds Ireland Public Ltd, Axis Mutual Fund (MF), HDFC MF and ICICI Prudential MF, according to a circular uploaded on BSE’s website.
Overall, a total of 18 domestic mutual funds participated through 44 schemes, collectively accounting for 53.33 per cent of the anchor portion.
As per the circular, Vishal Mega Mart has allotted 30.76 crore equity shares to 89 funds at Rs 78 apiece, which is also the upper-end of the price band. This takes the transaction size to Rs 2,400 crore.
The Rs 8,000-crore initial public offering (IPO) of Vishal Mega Mart opens for subscription on December 11 and will conclude on December 13. Shares are available in the price range of Rs 74 to Rs 78 apiece.
The proposed IPO is entirely an offer-for-sale (OFS) of shares by promoter Kedaara Capital-led Samayat Services LLP, Samayat Services LLP, with no fresh issue of equity shares.
At present, Samayat Services LLP holds 96.55 per cent stake in the Gurugram-based supermart major.
Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.
The updated draft filing was filed in October after Vishal Mega Mart’s confidential offer document was approved by Sebi on September 25. The company filed its offer document in July through the confidential pre-filing route.
Under the confidential filing process, Sebi reviews confidential DRHP and provides comments on it. Thereafter, the company going public is required to file an update to the confidential DRHP (UDRHP-I) after incorporating the regulator’s comments. This UPDRHP-I is made available for public comments over 21 days.
Finally, after incorporating the changes due to public comments, the company is required to update the DRHP-II (UDRHP-II).
Vishal Mega Mart’s product range includes both in-house and third-party brands, covering three key categories — apparel, general merchandise, and fast-moving consumer goods (FMCG). As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website.
According to the Redseer report, India’s aspirational retail market was valued at Rs 68-72 trillion in 2023 and is projected to reach Rs 104-112 trillion by 2028, growing at a CAGR of 9 per cent. The shift towards organized retail is driven by higher quality expectations, wider product assortments, better pricing (especially in FMCG), urbanization, and opportunities for organized players to grow.
Kotak Mahindra Capital Company, ICICI Securities, Intensive Fiscal Services, Jefferies India. J.P. Morgan India, Morgan Stanley India Company are the book-running lead managers for the issue.
Developments comes as opposition party prepares to make second bid to impeach President Yoon Suk-yeol.
South Korean police have raided the presidential office as part of an investigation into Yoon Suk-yeol’s martial law declaration, as an official told parliament the country’s former defence chief attempted suicide in custody.
The dramatic developments on Wednesday came after authorities earlier arrested former Defence Minister Kim Yong-hyun and the heads of the national and Seoul metropolitan police agencies over their alleged involvement in President Yoon’s short-lived decree, which has plunged Asia’s fourth-largest economy into its biggest political crisis in decades.
Kim was arrested on insurrection charges after Seoul Central District Court issued a warrant at the request of prosecutors.
“We considered the degree to which the charges are supported, the gravity of the crime and concerns he will destroy evidence,” the court said in issuing the warrant, the state-funded Yonhap news agency reported.
Cho Ji-ho, the commissioner-general of the Korean National Police Agency, and Kim Bong-sik, the head of the Seoul Metropolitan Police Agency, were also arrested on insurrection charges.
Cho and Kim, who were detained without warrant, can be held for up to 48 hours before they are formally arrested.
The arrests come as the main liberal opposition Democratic Party is preparing to make a second bid to impeach Yoon over his brief declaration of martial law, which has plunged Asia’s fourth-largest economy into its biggest political crisis in decades.
The opposition’s initial attempt to impeach Yoon failed after all but three members of Yoon’s People Power Party boycotted the vote at the 300-member National Assembly on Saturday, depriving the motion of the necessary two-thirds quorum.
If a second impeachment motion were to be successful, Prime Minister Han Duck-soo would temporarily assume presidential responsibilities.
The Constitutional Court of Korea would then decide whether to confirm Yoon’s removal from office or restore his powers.
The People Power Party has said that it has secured Yoon’s agreement to stay out of state affairs and resign in an orderly manner in exchange for not supporting his impeachment, an agreement the opposition has likened to a “second coup”.
Yoon, who has also been slapped with an overseas travel ban by prosecutors, is also under criminal investigation for alleged treason.
On Tuesday, the National Assembly passed a bill to appoint an independent special counsel to investigate Yoon and other top officials after the Democratic Party argued that public prosecutors could not be trusted to conduct a proper probe given the president’s former role as the country’s top prosecutor.
Yoon sent shockwaves throughout South Korea when he announced martial law in a late-night televised address on December 3, citing the need to “safeguard a liberal South Korea from the threats posed by North Korea’s communist forces” and “eliminate antistate elements”.
Yoon later apologised for the decree, which he rescinded within hours after a unanimous vote by the National Assembly, and promised not to shirk legal or political responsibility.
