Tag: FInance News

  • Kuwait bestows Mubarak Al-Kabeer honour on PM Modi

    Kuwait bestows Mubarak Al-Kabeer honour on visiting Indian PM Narendra Modi.
     Kuwait bestows Mubarak Al-Kabeer honour on visiting Indian PM Narendra Modi. Photo Courtesy: Randhir Jaiswal X page

    Kuwait Amir on Sunday bestowed Mubarak Al-Kabeer honour on Indian PM Narendra Modi to appreciate his role in boosting the good ties between Kuwait and India.

    The honour was bestowed on PM Modi by the Amir of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, in a ceremony held at Bayan Palace, reported Indian news agency UNI.

    It is the highest honour of the Gulf nation.

    After Modi arrived at the Bayan Palace in Kuwait, Modi was accorded the Guard of Honour.

    MEA spokesperson Randhir Jaiswal wrote on X: “PM @narendramodi arrives at the Bayan Palace in Kuwait to a ceremonial welcome and Guard of Honour. Warmly received by HH Sheikh Ahmed Abdullah Al-Ahmed Al-Sabah.”

    “Extensive talks with HH the Amir, Crown Prince and PM of Kuwait lie ahead,” the X post said.

    Indian PM Narendra Modi on Saturday reached Kuwait for his two-day trip to the Gulf nation.

    Modi is visiting Kuwait at the invitation of His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait.

    Modi attended the opening ceremony of the 26th Arabian Gulf Cup in Kuwait as a ‘Guest of Honour’.

    The event provided an opportunity for an informal interaction of PM Modi with the leadership of Kuwait, an official statement said.

    Kuwait is hosting the biennial Arabian Gulf Cup with participation from eight countries, including GCC nations, Iraq, and Yemen.

    This football tournament is one of the most prominent sporting events in the region. Kuwait has won the tournament maximum times among the participating countries.

  • Germany Christmas market car attack: Seven Indians injured 

    Seven Indians injured after car ploughs into a crowd of people at a Christmas market in Germany's Magdeburg city.
    The attacker (lying on the ground) was arrested from the spot. Photo courtesy: Screengrab from YouTube.

    At least seven Indian nationals were injured after a man ploughed his car through a Christmas market in the German city of Magdeburg which left at least five people dead on Friday.

    Three of the injured Indians have been discharged from the hospital, sources told Indian news agency UNI.

    The Indian Embassy is in touch with all those injured in the attack, the sources said.

    Meanwhile, the Ministry of External Affairs condemned the incident and said in a statement: “We condemn the horrific and senseless attack at a Christmas market in Magdeburg, Germany. Several precious lives have been lost and many have been injured.”

    “Our thoughts and prayers are with the victims. Our Mission is in contact with Indians who are injured, as well as their families, and rendering all possible assistance,” the statement said.

    The Indian Embassy in Germany confirmed that some Indian nationals were injured in the incident.

    However, it did not specify the exact number of people injured in the car attack.

    In an X post, the Embassy said: “@eoiberlin is maintaining close contact with Indians who have been injured in unfortunate attack at Christmas market in Magdeburg.”

    Meanwhile, the key suspect in the car attack incident that left the European country shocked ahead of Christmas, has been remanded into custody.

    The 50-year-old was brought before a judge on Saturday evening following the incident on Friday when a black BMW car ploughed through the crowded market injuring more than 200 people, reported BBC.

    The investigation into the incident is still ongoing.

    As per local media reports, the suspect has been identified as Saudi citizen Taleb al-Abdulmohsen.

    He reportedly arrived in Germany in 2006 and worked in the nation as a doctor.

    At least four women and a boy died in the attack.

    The suspected attacker has no known links to Islamist extremism, reported BBC.

    A source close to the Saudi government told the BBC it sent four official notifications known as “Notes Verbal” to German authorities, warning them about what they said were “the very extreme views” held by al-Abdulmohsen.

    The source, who asked not to be named, said these notifications were ignored.

  • PM Modi attends opening ceremony of  Arabian Gulf Cup in Kuwait 

    PM Modi attends Arabian Gulf Cup opening ceremony in Kuwait
    PM Modi attends Arabian Gulf Cup opening ceremony in Kuwait. Photo courtesy: Official X page of Narendra Modi

    Prime Minister Narendra Modi Saturday attended the opening ceremony of the 26th Arabian Gulf Cup in Kuwait as a ‘Guest of Honour’.

    He was invited to the event by the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. 

    The event provided an opportunity for an informal interaction of PM Modi with the leadership of Kuwait, an official statement said.

    Kuwait is hosting the biennial Arabian Gulf Cup with participation from eight countries, including GCC nations, Iraq, and Yemen. 

    This football tournament is one of the most prominent sporting events in the region. Kuwait has won the tournament maximum times among the participating countries. 

    PM Modi, who is on a two-day trip to the Gulf nation, conveyed his best wishes to all the participating countries. 

  • Narendra Modi to meet 101-year-old former IFS Office Mangal Sain Handa in Kuwait

    Indian PM Narendra Modi to meet ex-IFS officer Mangal Sain Handa during Kuwait trip
    Indian PM Narendra Modi to meet ex-IFS officer Mangal Sain Handa during Kuwait trip. Photo Courtesy: Mangal Sain Handa X page

    Prime Minister Narendra Modi will meet 101-year-old former Indian Foreign Service officer Mangal Sain Handa during his two-day visit to Kuwait.

    Following a request from his granddaughter Shreya Juneja, Modi agreed to meet the former Indian official.

    Juneja wrote on X: “Humble request to Hon’ble PM @narendramodi to meet my 101-year-old Nanaji, ex-IFS officer, in Kuwait during tmrw’s interaction with the Indian Diaspora. Nana @MangalSainHanda
    is a great admirer of yours. Details have been emailed to your office.”

    Following her tweet, Modi wrote: “Absolutely! I look forward to meeting @MangalSainHanda Ji in Kuwait today.”

    As per his X profile, Handa served in various nations which include Iraq, Kuwait, China, Argentina, the UK, and Cambodia.

    Prime Minister Modi, on Saturday, left India for a visit to Kuwait where he is scheduled to meet the Indian diaspora.

    This is the first visit to Kuwait by any Indian Prime Minister in over four decades.

    Late Prime Minister Indira Gandhi was the last Indian premier to visit the Middle Eastern country in 1981.

    Modi is visiting Kuwait at the invitation of Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait.

    “I look forward to my meetings with His Highness the Amir, the Crown Prince and the Prime Minister of Kuwait. It would be an opportunity to chalk out a roadmap for a futuristic partnership for the benefit of our people and the region,” said the Prime Minister in his departure statement.

    “I eagerly look forward to meeting the Indian diaspora in Kuwait who have immensely contributed to strengthening of bonds of friendship between the two nations,” he added.

  • Be mindful: India lodges strong protest with Bangladesh over interim govt adviser’s now-deleted social media post

    India lodges strong protest with Bangladesh over Mahfuz Alam's social media post
     India lodges strong protest with Bangladesh over Mahfuz Alam’s social media post. Photo Courtesy: Randhir Jaiswal X page

    The Indian government has lodged a stern protest with Bangladesh over a now-deleted social media post by a leader and asked ‘all concerned’ to remain mindful while making such remarks.

    India’s Ministry of External Affairs spokesperson Randhir Jaiswal said: “We have actually strongly registered our protest on this issue. We understand that the post that you referred to has been taken down.”

    He was referring to the remark by Bangladeshi leader Mahfuj Alam where in a social media post he showed Indian territories like West Bengal, Assam and Tripura as parts of Bangladesh.

    Alam is considered a close aide of Bangladesh interim government chief Muhammad Yunus.

    According to reports, he was one of the key organisers of the mass protests in Bangladesh this year which led to the downfall of the former PM Sheikh Hasina-led government.

    Jaiswal said: “We would like to remind all concerned to be mindful of their public comments.”

    “While India has repeatedly signalled interest in fostering relations with the people and the interim government of Bangladesh, such comments underline the need for responsibility in public articulation,” he said.

    “And once again to repeat that we have strongly protested against this with the Bangladesh government,” he said.

    Bangladesh Watch X page shared the Facebook post of Alam, an adviser in the interim government, where he said India maintains a “contain” and “ghettoize” policy towards Bangladesh.

    In his provocative post, he said that to be truly victorious, independent, and liberated, Bangladesh must “come out of its cage” and expand geographically.

    Relationship between India and Bangladesh reached a new low after Sheikh Hasina was ousted on August 5 and Muhammad Yunus took charge of the interim government on August 8.

    India had protested against the rising atrocities against Hindus in the Muslim-majority South Asian nation.

    The arrest of Hindu monk Chinmoy Krishna Das in November further escalated tension between the two neighbouring countries.

  • Malaysia: MH370 search to resume in 2024 after new ‘credible’ data discovered

    Malaysia has agreed in principle to resume the search for flight MH370, the Malaysia Airlines passenger jet that mysteriously vanished on 8 March 2014, making it the most intriguing case in aviation history.

    Malaysia Airlines Boeing 777-200ER (9M-MRO) taking off at Roissy-Charles de Gaulle Airport (LFPG) in France. Photo courtesy: Laurent ERRERA, Soerfm/ Wikipedia.
    Malaysia Airlines Boeing 777-200ER (9M-MRO) taking off at Roissy-Charles de Gaulle Airport (LFPG) in France. Photo courtesy: Laurent ERRERA, Soerfm/ Wikipedia.

    The Boeing 777 was on its way to Beijing, China, from Kuala Lumpur, the Malaysian capital with 239 people on board, when it disappeared from the radar on the aforementioned date.

    Several countries, including Malaysia, have tried to locate the wreckage over the years, but with little success.

    The latest development was confirmed by Malaysia’s Transport Minister Anthony Loke on Friday, December 20. Loke said the Malaysian Cabinet approved in principle an USD 70 million “no find, no fee” deal with US-based marine exploration firm Ocean Infinity to find the aircraft. This means if the company fails to find the wreckage, they’ll not get paid.

    In a statement, Ocean Infinity CEO Oliver Plunkett hailed the development as “great news”. “We look forward to sharing further updates in the new year once we’ve finalised the details and the team gets ready to go,” Plunkett said.

    The Malaysian government, however, is yet to finalise the specific deal of the new search, Loke said.

    Ocean Infinity had tried a similar search in 2018, which ended unsuccessfully after three months, as per reports.

    Before that, a multinational effort from Malaysia, Australia and China, that cost USD 150m ended in 2017, following two years of search.

    As per the Malaysian lawmaker, the new search will cover a 15,000 sq km patch in the southern Indian Ocean. This was based on new data that Malaysia found to be “credible”.

    “We hope this time will be positive,” Loke said.

    The minister said if successful, it would give closure to the families of those on board.

    What happened to Flight MH370?

    The aircraft took off from Kuala Lumpur in the early hours of 8 March 2014. Just less than an hour after takeoff, it lost communication with air traffic control.

    Radar showed that the aircraft deviated from its planned flight path.

    While there’s consensus about the fact that the plane crashed somewhere in the southern Indian Ocean, the theories surrounding it are vast.

    Some even said that the pilot, Zaharie Ahmad Shah, had gone rogue.

  • Maiden World Meditation Day observed, Narendra Modi asks everyone to make it a part of life

    World observes maiden Meditation Day
    World Meditation Day observed. Photo Courtesy: Unsplash

    In a bid to raise awareness about meditation and its benefits, the UN General Assembly proclaimed December 21 as World Meditation Day, recalling the right of everyone to the enjoyment of the highest attainable standard of physical and mental health.

    “Additionally, the General Assembly acknowledged the link between yoga and meditation as complementary approaches to health and well-being,” read the UN website.

    Indian PM Narendra Modi has called upon everyone to make meditation a part of their daily lives on World Meditation Day, on Saturday.  

    Prime Minister Modi said meditation is a powerful way to bring peace and harmony to one’s life, as well as to our society and planet.

    In a post on X, he wrote: “Today, on World Meditation Day, I call upon everyone to make meditation a part of their daily lives and experience its transformative potential. Meditation is a powerful way to bring peace and harmony to one’s life, as well as to our society and planet. In the age of technology, Apps and guided videos can be valuable tools to help incorporate meditation into our routines.”

    Marking the event, Indian spiritual leader Sri Sri Ravi Shankar led the meditation session at the UN headquarters in New York.

    After delivering the speech, Ravi Shankar wrote on X: “Gave the keynote address at the launch of the 1st World Meditation Day at @UN Headquarters, facilitated by Permanent Representative of India @AmbHarishP in the presence of @UN_PGA H.E. Philemon Yang, USG Atul Khare @UN_OpSupport, senior UN officials, PRs, members of the diplomatic corps and other dignitaries.”

    “With the efforts of the Permanent Missions of India, Sri Lanka, Nepal, Mexico, Liechtenstein and Andorra, all 193 member states came together to acknowledge the power of meditation in bringing health and harmony to all of humanity. #WorldMeditationDay,” he said.

    Benefits of meditation

    Beyond individual benefits, meditation fosters empathy, collaboration, and a sense of shared purpose, contributing to collective well-being. Celebrated for its universality, meditation is practiced across all regions of the world by people of all ages, backgrounds, and lifestyles, read the UN website.

    The World Health Organization (WHO) recognises the significant benefits of meditation, particularly mindfulness meditation. WHO’s discussions on stress management underscore the importance of learning coping mechanisms, such as meditation, to support mental and physical well-being.

    According to WHO, meditation can be a powerful self-care tool to support treatment and enhance overall well-being, particularly in managing symptoms of anxiety. Incorporating mindfulness meditation into your daily routine, even for just a few minutes, can help you achieve a sense of calm and focus.

    Additionally, WHO acknowledges the mental health benefits of practices like yoga, which often incorporate meditative elements. On the International Day of Yoga, WHO highlighted yoga’s contributions to lifelong health and well-being, emphasizing its role in promoting healthier populations and a more equitable and sustainable world.

  • Canada: Jagmeet Singh says NDP will vote to bring down Trudeau’s government 

    Jagmeet Singh says he will vote to topple Canadian PM Justin Trudeau's government
    Jagmeet Singh says he will vote to topple Canadian PM Justin Trudeau’s government. Photo Courtesy:  Jagmeet Singh Instagram page

    Canadian Prime Minister Justin Trudeau’s government inched further towards uncertainty after key ally and New Democratic Party (NDP) leader Jagmeet Singh said his party would introduce a motion to topple the government next year.

    Singh made the announcement just minutes before Trudeau shuffled his Cabinet.

    In his letter shared on social media, Singh said he is committed to voting ‘non-confidence’ in the government after the House returns on January 27.

    Singh’s announcement is a shift from his party’s previous stance when the political outfit had given confidence to the government.

    He wrote in the letter: “The NDP will vote to bring this government down and give Canadians a chance to vote for a government who will work for them. No matter who is leading the Liberal Party, this government’s time is up.”

    “I called for Justin Trudeau to resign,” he said.

    Singh’s stance clearly shows that the chances for Trudeau’s government to remain in power remain slim.

    Canada is scheduled to vote in the next election on or before October.

    With the Liberals remaining in power with minority support now, there is the possibility that Canada will witness early polls if the Parliament votes in favour of the no-confidence motion.

    All the opposition parties in the country are now demanding the ouster of the Trudeau-led government.

    Conservative leader Pierre Poilievre has repeatedly called for an election as soon as possible, while Bloc Québécois Leader Yves-François Blanchet said a confidence vote must happen as soon as possible to trigger an early 2025 election, reported BBC.

    Singh’s announcement came just days after Chrystia Freeland, Trudeau’s deputy Prime Minister and finance minister, resigned.

    She said she quit the position over disagreements with Trudeau on how to respond to incoming US President-elect Donald Trump’s threat of tariffs.

    She announced her resignation in a letter to Trudeau on Monday, in which she said the two have been “at odds about the best path forward for Canada”, and pointed to the “grave challenge” posed by Trump’s policy of “aggressive economic nationalism”, reported BBC.

    She announced her resignation hours before she was supposed to provide an annual fiscal government update in the Parliament.

    The move may push Trudeau’s already shaky minority government to the brink, BBC reported, highlighting the challenges the government is facing.

  • 28-year-old Indian-origin man jailed in Singapore for hurting rival gang member

    An Indian-origin man was jailed for six weeks in Singapore on Friday, December 20, after he pleaded guilty to one count of voluntarily causing hurt to a rival gang member.

    A representational image of a jail. Photo Courtesy: Unsplash
    A representational image of a jail. Photo Courtesy: Unsplash

    Visnu Suriamurthi, 28, was also fined SGD 2,000 after admitting to a separate illegal gambling offence, reported “The Straits Times”.

    A member of Visnu’s group, Asvain Pachan Pillai Sukumaran, has been charged with the murder of Mohammad Isrrat Mohammad Ismail (29), following a brawl that happened at around 6 am on August 20, 2023, outside the Concorde Hotel and Shopping-Mall in the Orchard Road hotel-tourist belt.

    The case of 30-year-old Sukumaran, also of Indian origin, is still before the courts. He allegedly took Ismail’s knife and stabbed him multiple times with it.

    A recalcitrant offender, Visnu was sent to jail twice in 2022 for voluntarily causing hurt, a record which District Judge Ong Luan Tze took into account during sentencing.

    Judge Ong told Visnu: “You are still young… Take some time to think about how you want your future to pan out, and after this case, to seriously consider not coming back to court.”

    Visnu admitted himself to a hospital to seek treatment and was arrested by police at the premises.

    So far, more than 10 men have been hauled to court for their roles in the fatal brawl.

  • North Korean hackers stole USD 1.3 billion through crypto hacks in 2024: Reports

    North Korean hackers stole $1.3bn through crypto hacks
    North Korean hackers stole $1.3bn through crypto hacks. Photo Courtesy: Unsplash

    A new study has shown that North Korean hackers accounted for more than half of the USD 2.2 billion cryptocurrencies stolen in 2024.

    Research firm Chainalysis claimed North Korea stole USD 1.3 billion of digital currencies.

    Some of the thefts appear to be linked to North Korean hackers posing as remote IT workers to infiltrate crypto and other technology firms, the report was quoted as saying by BBC.

    The news of theft of the digital currencies emerged at a time when price of cryptocurrencies more than doubled this year amid reports that US President-elect Donald Trump would be more friendly towards it.

    Overall, the amount of cryptocurrency stolen by hackers in 2024 increased by 21 percent from last year but it was still below the levels recorded in 2021 and 2022, the report said as quoted by BBC.

    “Given that centralised exchanges manage substantial amounts of user funds, the impact of a private key compromise can be devastating,” the study added.