Tag: finance

  • D Gukesh’s historic World Chess Championship title is a triumph of talent and parental sacrifice

    Nurtured by parents who put their careers on hold for his growth and didn’t hesitate to seek crowd-funding for his dreams, D Gukesh manifested his destiny as a seven-year-old and turned it into reality in just over a decade’s time on December 12, 2024.

    D Gukesh enjoys his World Chess Championship win after defeating China's Ding Liren. Photo courtesy: twitter.com/FIDE_chess
    D Gukesh enjoys his World Chess Championship win after defeating China’s Ding Liren. Photo courtesy: twitter.com/FIDE_chess

    The 18-year-old defeated Ding Liren of China to become the youngest ever world chess champion, capping a fabulous year in which he has hardly put a foot wrong wherever he has shown up to compete.

    But the journey to the top hasn’t been the easiest ride and has involved sacrifices not only from him but also his parents — ENT surgeon Dr Rajinikanth and Padma, a microbiologist.

    Rajinikanth had to stop practice in 2017-18 as the father-son duo travelled across the world on a shoe-string budget when Gukesh chased the final GM norm, while his mother became the primary breadwinner, taking care of the household expenses.

    “His parents have sacrificed a lot,” Gukesh’s childhood coach Vishnu Prasanna told PTI in April after he became the youngest challenger to the world title as a 17-year-old.

    “While his father has almost surrendered his career. His mother has been supporting the family while his father has been travelling, and they hardly get to see each other,” he recalled.

    Gukesh became the third youngest Grandmaster in the history of chess when he achieved the feat at 12 years 7 months and 17 days. The Chennai-lad is also the third youngest to enter the elite 2700 Elo rating club and the youngest ever to scale the 2750 rating mark.

    The year 2024 is without a shred of doubt the best of Gukesh’s budding career.

    He won the Candidates, was dominant on the top board to take team India to a gold medal in the recent chess Olympiad at Budapest, and the icing on the cake was his world title triumph in Singapore on Thursday.

    His chess journey started with one hour and thrice-a-week lessons in 2013, the year Viswanathan Anand lost his world title to Norwegian maverick Magnus Carlsen.

    Multiple-times age group championship winner, Gukesh became an International Master after a tournament in Cannes, France, in 2017.

    Early success of the young champion included gold-winning performance in under-9 Asian school championship and the World Youth Chess Championships in 2018 in the Under 12 category.

    Gukesh’s passion for the 64-square chess board prompted his parents to stop him from attending school full-time after Class IV.

    It was in 2019 during a tournament in New Delhi that Gukesh became the second youngest Grandmaster in the history, a record that was then surpassed by only Sergey Karjakin of Russia but was later also broken by Abhimanyu Mishra, the Indian origin talent from USA.

    The writing was on the wall in 2022 when Gukesh won an individual gold medal playing on top board for the Indian team, a performance he repeated at Budapest again.

    In September 2022, he reached a rating of over 2700 for the first time and one month later he also became the youngest player ever to beat Magnus Carlsen, the reigning world champion at that time.

    Next year also went well for him as he crossed the 2750 rating barrier and the only disappointing moment was when he was eliminated in the quarterfinals of the World Cup and the road to world championship looked closed.

    However, last year in December, Gukesh got another opportunity as the Tamil Nadu Government came up with a strong closed-tournament that gave Gukesh the chance to have another shot, as a win meant a ticket to Toronto for the Candidates.

    The win also made him the third youngest ever to qualify for the Candidates’ tournament behind Bobby Fischer and Magnus Carlsen.

    And amid all this, Gukesh was without a sponsor and had to manage his finances through prize money and crowd-funding initiatives of parents.

    Despite the many challenges, he went on to overtake his idol Anand as India’s no.1 last year.

    And it was a stroke of destiny that Anand was the one who went on to polish him in the Westbridge-Anand Chess Academy (WACA) that came into existence in 2020 during the peak of COVID-19 pandemic, which had put a halt to most sporting activities.

    “During that period, we used to train at Vishwanathan Anand’s academy and utilise the ample time that we had,” Prasanna had said.

    “Vishy has been his most important ambassador. Together, we used to discuss about him (Gukesh) and his future a lot, and we both would probably say the same thing to him.”

    Gukesh too has never missed an opportunity to express his gratitude towards Anand.

    “Vishy sir has been a huge inspiration for me and I have heavily benefitted from his academy. I am truly grateful to him and wouldn’t have been close to what I am now if it wasn’t for him,” Gukesh has often stated.

    On Thursday, the lanky teenager, whose poker face while playing is the talk of the chess world, took the legacy of his mentor forward and repaid the sacrifices of his parents in every sense of the word.

    Reactions following Gukesh’s win

    India’s Prime Minister Narendra Modi hailed the win as “Historic and exemplary!”

    “Congratulations to Gukesh D on his remarkable accomplishment. This is the result of his unparalleled talent, hard work and unwavering determination,” part of Modi’s tweet read.

    “His triumph has not only etched his name in the annals of chess history but has also inspired millions of young minds to dream big and pursue excellence.

    “My best wishes for his future endeavours. @DGukesh,” the Indian leader added.

    Lawmaker and the leader of the opposition in the Indian Parliament, Rahul Gandhi tweeted: “Gukesh, you’ve made all of India proud! At just 18, becoming the youngest-ever World Chess Champion is a phenomenal achievement. Your passion and hard work remind us that with determination, anything is possible. Congratulations, champ!”

    Google CEO Sundar Pichai also tweeted to hail the new champion. “Congrats to Gukesh D , incredible to become youngest world champion at 18!! 🇮🇳🎈” Pichai said.

  • India’s D Gukesh wins World Chess Championship, ends trophy drought

    Indian grandmaster D Gukesh scripted history by becoming the youngest player, at 18, to win the World Chess Championship. Gukesh defeated Ding Liren of China to reach the needed 7.5 points to lift the trophy.

    World Chess Championship winner D Gukesh. Photo courtesy: twitter.com/FIDE_chess
    World Chess Championship winner D Gukesh. Photo courtesy: twitter.com/FIDE_chess

    Before the game, both grandmasters were tied at 6.5 points each and needed a victory to win the championship. A tie would have sent the two to tie breakers.

    Keeping his composure, the teenage Chess phenom displayed skills to outsmart the reigning champion and end India’s drought at the championship.

    Before Gukesh, it was Vishwanathan Anand who won the championship from India. Vishy won the trophy five times.

  • Indian national jailed in Singapore for smuggling 58 Indian star tortoises via Changi Airport

    Indian star tortoise
    The Indian star tortoise is listed as a highly endangered species in Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora, or CITES. Photo courtesy: critterfacts.com

    An Indian national named Abdul Jaffar Haji Ali has been sent to prison for 16 months in Singapore for smuggling 58 Indian star tortoises via Changi International Airport. Abdul Jaffar was on his way to Indonesia with the highly endangered tortoise species when he got caught.

    The wildlife smuggling incident occurred on 29 August 2024, but the jail sentence was passed only on 10 December 2024. Ali was convicted of one count of illegally importing a scheduled species into Singapore.

    CNA reported: “The Indian star tortoise is listed as a highly endangered species in Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora, or CITES. According to the National Parks Board (NParks), such species face a serious risk of extinction if their trade is not severely restricted.”

    The CNA report said, based on court documents, that Abdul Jaffar had wrapped the tiny tortoises in cloth and bundled them in his suitcase. After he was caught, a veterinarian in Singapore, assessing the health of the smuggled tortoises, said that this manner of transportation had caused the little creatures “unnecessary suffering”.

    The tortoise smuggler was travelling from Chennai (in Tamil Nadu, south India) to Jakarta, Indonesia, via Singapore Changi Airport. While in transit, his suitcase was screened by officers of the Immigration and Checkpoints Authority (ICA).

    Indian star tortoise smuggler suitcase
    Indian star tortoise smuggler caught with this suitcase at Singapore Changi Airport; the smuggled tortoises. Photo courtesy: NParks

    Something about the way the suitcase was packed aroused the ICA officers’ suspicion; they opened the suitcase and found the captive Indian star tortoises. The matter was referred to Singapore NParks, as it concerned wildlife trafficking. The tortoises were sent to the Centre for Wildlife Rehabilitation for a health checkup.

    Not only did the smuggled tortoises belong to a highly endangered species, and trafficking them was a crime in itself, but also the manner of their transportation — bundled in cloth in a soft-shelled suitcase — was not humane and safe. The little tortoises could have been crushed to death anytime inside the suitcase, if something heavy fell on the bag.

    In addition, the suitcase was suffocating; there were no ventilation outlets. The suitcase was also not labelled as “fragile”, so careless handling could have killed the tortoises. In fact, one of the tortoises was found dead when the suitcase was opened.

    CNA quoted court documents as stating that “Abdul Jaffar did not have a valid permit issued by the director-general of wildlife trade control to import a scheduled species into Singapore”.

  • Thailand to roll out E-Visa facility for Indians from January 1

    Thailand announces E-Visa for Indian tourists from January 1.
    Thailand announces E-Visa for Indian tourists from January 1. Photo Courtesy: Unsplash

    The Thai Embassy in New Delhi on Wednesday announced that E-Visa will be rolled out for Indian passport holders from January 1.

    The Embassy said the 60-day visa exemption for tourism and short business purposes for Indian ordinary passport holders remains effective ‘until further announcement’.

    The statement issued by the Embassy said: “Applicants, non-Thai nationals, must apply for all types of visas at the website https://www.thaievisa.go.th.”

    The Embassy said people can submit their applications themselves or via a representative.

    “Applicants must choose to pay a visa fee for which the respective Embassy and Consulate-Generals will provide details on the offline payment options,” it said.

    The Embassy confirmed that the visa will be processed within 14 working days from the date of the receipt of the visa fee.

    Deadline for the regular visa application under the current system

    Ordinary passport applications submitted at the designated visa processing companies will be accepted until 16 December 2024.

    Diplomatic and official passport applications submitted at the Embassy or Consulate-General will be accepted until 24 December 2024.

  • Cheeky Trump launches new fragrance ‘Fight Fight Fight’, uses photo with Jill Biden

    Donald Trump launches new line of fragrance named Fight Fight Fight
    Donald Trump launches new line of fragrance. Photo Courtesy: Donald Trump Truth Social page

    US President-elect Donald Trump has launched a new fragrance line ‘Fight Fight Fight’, which features an image of himself and First Lady Jill Biden.

    Sharing an image on Truth Social, Trump made the announcement. The caption, a cheeky dig on his opponents, read: “A fragrance your enemies can’t resist!”

    He wrote: “Here are my new Trump Perfumes & Colognes! I call them Fight, Fight, Fight, because they represent us WINNING. Great Christmas gifts for the family. Go to gettrumpfragrances.com/. Merry Christmas, and Happy New Year!”

    The new fragrance line, which includes perfume for women and cologne for men,are priced at USD 199.

    People can buy them from GetTrumpFragrances.com website.

    The image which Trump used to launch the new line of fragrance was clicked when they recently visited Paris to attend the re-opening of Notre Dame Cathedral.

    The Cathedral reopened after five years since it was destroyed in a fire incident.

    The image captures Trump and the First Lady in conversation, with an empty chair between them, marked for Brigitte Macron, the wife of French President Emmanuel Macron, reported CBS News.

  • Iranian Supreme Leader Khamenei says US-Israel plotted the toppling of Assad’s regime in Syria

    Iranian Supreme Leader Khamenei claims US and Israel created plot to ouster Assad's regime in Syria
    Iranian Supreme Leader Khamenei claims US and Israel created plot to ouster Assad’s regime in Syria. Photo Courtesy: Mohammad Sadegh Heydari – http://www.ypa.ir, CC BY 4.0

    Iran’s Supreme Leader Ayatollah Ali Khamenei on Wednesday claimed the collapse of former President Bashar al-Assad’s regime in Syria was masterminded by the United States and Israel.

    Khamenei was quoted as saying by IRNA news agency: “There should be no doubt that what happened in Syria was the result of a joint American-Zionist plot.”

    “Yes, a neighbouring state of Syria clearly played a role in this matter and continues to do so — everyone can see that,” he said but did not name the nation.

    He said: “The main conspirator, the main planner, and the command centre lie in America and the Zionist regime.”

    The toppling of Assad’s 24-year-old regime is a blow to the Iran-led ‘Axis of Resistance’ political and military alliance.

    The alliance mostly opposes Israeli and US influence in the Middle East.

    “I tell you that By God’s grace, Iran is strong and powerful and will become more powerful,” Ayatollah Ali Khamenei said.

    Meanwhile, rebels have taken control over the Syrian city of Deir Ezzor, just days after they seized the capital Damascus, leading to the fall of ex-President Bashar al-Assad’s regime.

    “We announce the city of Deir Ezzor and its military airport as completely liberated,” Military Operations Command spokesperson Hassan Abdul Ghani was quoted as saying by CNN.

    An SDF source told CNN that the Kurdish forces have withdrawn only from the western bank of the Euphrates in Deir Ezzor city.

  • Adani to finance Sri Lankan Port project on its own, withdraws request for US DFC funding

    adani port

    Adani to finance Sri Lankan Port project on its own, withdraws request for US DFC fundingIANS

    The Adani Ports and Special Economic Zones (APSEZ) Ltd on Tuesday said it will use its own resources to fund a Sri Lankan port project and not seek US funding.

    In a stock exchange filing, Adani Ports said the project “is on track for commissioning by early next year”.

    “We would like to inform that Colombo West International Terminal (CWIT) project in Sri Lanka is progressing well and is on track for commissioning by early next year,” said the flagship Adani Group company.

    “The project will be financed through the company’s internal accruals and capital management plan. We have withdrawn our request for financing from the US Development Finance Corporation (DFC),” it added.

    In November last year, the US International Development Finance Corp agreed to provide a $553 million loan to support the development, construction, and operation of CWIT at the Port of Colombo in Sri Lanka.

    The CWIT is being developed by a consortium of Adani Ports, Sri Lankan conglomerate John Keells Holdings Plc, and the Sri Lanka Ports Authority (SLPA).

    The CWIT project was started in September 2021, when Adani Ports signed an agreement with the Sri Lanka Ports Authority and Sri Lankan conglomerate John Keells Holdings, pledging over $700 million to expand the capabilities of Colombo Port.

    Adani

    New terminal will cater to growing economies in the Bay of Bengal, taking advantage of Sri Lanka’s prime position on major shipping routes and its proximity to these expanding markets.IANS

    The CWIT will be Sri Lanka’s largest and deepest container terminal, with a quay length of 1,400 metres and an alongside depth of 20 metres.

    The Port of Colombo is the largest and busiest trans-shipment port in the Indian Ocean and it has been operating at more than 90 per cent utilisation since 2021, signalling its need for additional capacity.

    The new terminal will cater to growing economies in the Bay of Bengal, taking advantage of Sri Lanka’s prime position on major shipping routes and its proximity to these expanding markets.

    The annual cargo handling capacity of this new terminal is likely to exceed 3.2 million.

    (With inputs from IANS)

  • Singapore NParks launches 100K Corals Initiative, an extensive tech-based marine conservation effort

    Desmond Lee and Jane Goodall
    Singapore minister Desmond Lee with wildlife conservation legend Dr Jane Goodall at the launch of the 100K Corals Initiative by Singapore NParks on 10 December 2024. Lee and Goodall are both holding coral nubbins, from which new corals will grow. Photo courtesy: Instagram/desmond.lee

    The National Parks Board (NParks) of Singapore has launched the 100K Corals Initiative, which aims to plant 100,000 corals in Singapore’s waters over the next 10 years and beyond.

    This marine conservation work by Singapore is of extreme importance, as coral reefs support life in the seas, and coral health reflects the general health of the marine ecosystem. Corals have been suffering because of global warming — the hotter waters of the seas and oceans have resulted in coral bleaching in parts of the world, including the famed Great Barrier Reef in Australia.

    In view of this, the NParks coral initiative contributes to climate change mitigation.

    A media release issued yesterday said that these corals would be cultivated at a new coral culture facility at NParks’ Marine Park Outreach and Education Centre on St John’s Island, before being transplanted into the marine environment of Singapore, in order to restore degraded reefs or establish new coral communities.

    This 100K initiative is the most extensive coral restoration effort in Singapore to date. Given Singapore’s limited coral cover, the programme will also scale up NParks’ existing coral restoration efforts.

    NParks is working with the St John’s Island National Marine Laboratory (SJINML) to roll out the 100K Corals Initiative, which has received over SGD 2 million in support to date.

    Coral culture tanks
    Coral culture tanks at the new NParks facility. Photo courtesy: NParks

    Funds for the coral restoration initiative have been raised through the Garden City Fund, NParks’ registered charity and IPC (Institutions of a Public Character), from the following donors:

    • Delta Electronics (approximately SGD 1.7 million)

    • GSK-EDB Trust Fund (SGD 1 million)

    • Deutsche Bank (SGD 100,000)

    • Takashimaya Singapore

    • KPI OceanConnect

    To mark the launch of the 100K Corals Initiative, Minister for National Development and Minister-in-charge of Social Services Integration Desmond Lee took part in a coral planting activity at the coral culture facility on December 10.

    Lee posted a photo on Instagram with wildlife conservation legend Jane Goodall, who attended the launch of the coral initiative, and he gave “a big thank you” to the project donors for their “generous support”.

    During the launch event, special guest Dr Jane Goodall DBE, founder of the Jane Goodall Institute, also did a sharing on marine conservation at the new coral culture facility.

    New coral culture facility for ex-situ coral cultivation

    The cultivation of corals at the new facility at NParks’ Marine Park Outreach and Education Centre on St John’s Island will be carried out by coral restoration experts and researchers from the National University of Singapore at SJINML.

    The coral species cultivated include several that are under NParks’ Species Recovery Programme, such as the Staghorn coral (Acropora digitifera) and Plate Acropora coral (Acropora millepora). The coral culture facility is targeted to be fully operational and open to the public in the second quarter of 2025.

    Staghorn coral
    Staghorn coral is one of the coral species cultivated under NParks’ Species Recovery Programme. Photo courtesy: Wikipedia

    The Species Recovery Programme was introduced in 2015 as part of NParks’ Nature Conservation Masterplan. It aims to conserve native flora and fauna by targeting endemic, rare or threatened native species in Singapore through reintroduction, habitat enhancement and protection efforts.

    Serving as an ex-situ coral nursery, the NParks coral culture facility will house six tanks that can rear up to 600 coral nubbins each. The nubbins, which are small coral fragments produced from adult colonies, will be attached to a specially designed frame that maximises the number of corals that can be grown in the tanks, and grown under controlled conditions.

    Once the nubbins have grown large enough, they will be transplanted onto degraded reefs for restoration purposes, or inserted into other areas to establish new coral communities.

    Corals-of-opportunity, which are naturally fragmented corals lying free on the floor that may not survive without external intervention, could potentially be used as a source of transplant as well.

    NParks-Delta Corals Research Programme

    Established to kickstart the 100K Corals Initiative, the NParks-Delta Corals Research Programme is a collaborative project between NParks and Delta Electronics that integrates smart technology into NParks’ coral cultivation efforts.

    As part of the two-year research programme, NParks will leverage Delta’s expertise in industrial and building automation to optimise large-scale coral cultivation at the coral culture facility on St John’s Island.

    NParks and Delta Electronics working together
    NParks is leveraging the industrial and building automation expertise of Delta Electronics to optimise coral cultivation. Together, they have set up a smart coral aquaculture system. Photo courtesy: NParks

    The healthy growth of corals is dependent on several parameters, including lighting, temperature, water quality and water flow. Smart technology will be deployed to cultivate corals under controlled conditions in the tanks, enabling them to thrive without being subject to environmental stressors such as ocean warming and acidification.

    The NParks coral tanks will be installed with a smart coral culture aquaculture system set up by Delta that integrates intelligent aquaculture and environment management.

    Designed to detect abnormalities that can affect coral growth, the system monitors water conditions using various instruments and transmits the data to researchers, enabling real-time, remote monitoring and timely intervention.

  • Indian-origin student’s pro-Palestine essay bars him from MIT; decision sparks debate

    An Indian-origin student has been barred from entering the Massachusetts Institute of Technology campus over a pro-Palestine essay he wrote weeks ago.

    Massachusetts Institute of Technology student Prahlad Iyengar. Photo courtesy: Screengrab from X
    Massachusetts Institute of Technology student Prahlad Iyengar. Photo courtesy: Screengrab from X

    Prahlad Iyengar was pursuing a PhD from the Department of Electrical Engineering and Computer Science at MIT. Now, the institute has decided to terminate his five-year National Science Foundation Graduate Research Fellowship, sparking a huge ‘freedom of speech’ debate.

    The essay, which, according to the institute, called for violence, was featured in the college magazine Written Revolution.

    As per reports, the magazine has also been banned.

    Iyengar’s essay, titled ‘On Pacifism’, has been reviewed as a piece that says pacifist tactics might not be the best recourse for Palestine. The Commune Magazine, however, didn’t deem it calling for violent resistance directly.

    Sharing his take on the issue, the Indian-origin student said: “The administration accuses me of supporting ‘terrorism’, because the edition in which my article appears includes images of posters from the Popular Front for the Liberation and of containing violent imagery in the publication.”

    The statement was shared by Iyengar’s lawyer Eric Lee on X.

    As per an email received by the magazine’s editors from MIT Dean of Student Life, David Warren Randall, the essay used language that “could be interpreted as a call for more violent or destructive forms of protests at MIT”.

    This is also not the first time Iyengar has had a run-in with the institute. He was suspended in 2023 following a pro-Palestine demonstrations.

    “These extraordinary actions should concern everyone on camp,” Iyengar said in the statement. “Expelling me and banning Written Revolution from campus as a result of this article would mark an unprecedented attack on the rights of the entire student body and faculty. Consider the precedent MIT has set.”

    Meanwhile, the student has received support from the MIT Coalition Against Apartheid.

    “Prahlad is now appealing his case with the Chancellor to reduce the unjust sanctions against him. We have launched a campaign to put pressure on MIT’s administration to stop criminalising students who stand on the right side of history. We call on all organisations and institutions of conscience to sign up and stand up to MIT’s repression,” said the coalition in a statement.

    According to a report in The Boston Globe, the president of MIT Graduate Student Union, Sophie Coppieters’t Wallant said, “The fact that MIT is choosing to threaten student livelihood and careers simply because they don’t agree with what students are speaking up and protesting for is unacceptable.”

    The coalition also held a rally in Iyengar’s support at the Cambridge City Hall on December 9.

  • RBI, Finance Ministry coordination at its best, says Shaktikanta Das

    RBI, Finance Ministry coordination at its best, says Shaktikanta Das

    IANS

    The Reserve Bank of India and the Finance Ministry have been on “best terms with excellent coordination and cooperation” over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.

    He said, “The perspectives of the central bank and the Finance Ministry may differ at certain times but I believe in my tenure we have been able to settle such things.”

    Das said restoring a balance between inflation and growth in the economy remains an important task for the Reserve Bank.

    Governors keep in mind the needs of the broader economy when deciding on things and eventually, it is a judgment call every time, he added.

    Das also highlighted the wide-ranging ‘consultative approach’ and the emphasis on the need for financial inclusion during his 6-year tenure.

    Reserve Bank of India (RBI)

    IANS

    During his tenure, Shaktikanta Das launched several innovative products involving the UPI, which he said has emerged as a ‘pioneer’ in the global payments system. He added that he will be closely watching the pan-India rollout of the Unified Lending Interface, a digital platform to streamline and speed up the loan approval process. The ULI is expected to help borrowers avail credit while ensuring that lenders process customer information with ease.

    He said that the supervisory methods of the central bank have ‘significantly improved’ and are ‘much sharper’ now.

    “We have given a lot of attention to cyber security. That is a continuing task. It will be a continuing challenge for every central bank including RBI,” Shaktikanta Das said during the interaction with journalists in RBI headquarters in Mumbai on his final day at office.

    In a string of posts on X, he expressed gratitude for support from the Prime Minister, Finance Minister, and stakeholders in the financial sector.

    “Will demit office as Governor RBI later today. Thank you, everyone, for your support and good wishes,” Das wrote on the social media site.

    The government has appointed senior bureaucrat Sanjay Malhotra as the next governor of the RBI who took charge of the central bank on Tuesday. Malhotra is an Indian Administrative Service officer of the 1990 batch from the Rajasthan cadre. His latest posting was as Revenue Secretary in the Ministry of Finance.

    (With inputs from IANS)