International Financial News

Olympics organizers said Sunday that arbitrary testing imposed on boxers Imane Khelif and Lin Yu-Ting that led to a storm of vitriol misidentifying the women as transgender or men was «so flawed that it's impossible to engage with it.» International Olympic Committee spokesman Mark Adams again vigorously defended Khelif of Algeria and Lin of Taiwan, hammering the sport's now-banned governing body, the International Boxing Association, that claimed the fighters failed unspecified eligibility tests for women's competition. The two athletes were «carted off and tested» during the 2023 boxing world championships because «there were suspicions against them,» Adams said, slamming the process that singled them out. «I need hardly say if we start acting on suspicions against every athlete of whatever, then we go down a very bad route,» he said. He rejected the testing in its entirety.

debt-ridden Reliance Capital (RCAP) has filed an affidavit with NCLT, accusing IIHL of non-compliance as the Hinduja Group firm failed to meet the conditions set by the tribunal in a July 23 order. The administrator, in its affidavit seen by PTI, informed NCLT that instead of depositing Rs 2,750 crore in the designated escrow accounts of the Committee of Creditors (CoC) in India and abroad, IndusInd International Holdings Ltd (IIHL) has deposited the money in its own accounts as well as the promoters' accounts. However, IIHL in a separate affidavit had said it has funds and the same will be transferred once the escrow account is in place which has conditions listed out. For opening any escrow account, there are terms and conditions which are based on an agreement signed bilaterally and if the terms and conditions are met or not met, the trustee decides the fate of funds accordingly, an IIHL spokesperson said.

Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group's power transmission unit's $1 billion QIP, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business.

Israel-Palestine conflict has been marked by numerous controversial tactics, one of the most notorious being the 'Hannibal Directive,' which allows for the use of excessive force to prevent the capture of Israeli soldiers, even if it endangers hostages. Another controversial tactic was the 1978 assassination of Palestinian leader Wadie Haddad by Mossad agents using poisoned toothpaste. Wadie Haddad, head of the Popular Front for the Liberation of Palestine (PFLP), was implicated in several high-profile attacks, including the 1976 hijacking of Air France Flight 139, known as the Entebbe Hijacking. The plane, diverted from Tel Aviv to Paris, was then taken to Libya and Uganda. Israel’s response, Operation Thunderbolt, was a successful rescue mission led by Lt Col Yonatan Netanyahu, who tragically lost his life in the operation. Mossad’s Mission

transhipment port project at Great Nicobar Island in the Bay of Bengal is being finalised by the government, and it will go ahead with the implementation of the project in the next few months, a senior official said on Sunday. Great Nicobar Transhipment port project has been under scrutiny over environmental concerns. «The project has received the environmental clearances and nod from National Green Tribunal (NGT) and now there is no hurdle in its implementation. »The DPR of the project is also finalised and we are going ahead for its further implementation in the next few months," Ports, Shipping and Waterways secretary T K Ramachandran told PTI in an interview.

South China Sea and aiming to counter Beijing's continuing violations of international treaty obligations, countries in the region are galvanising their defences. Two warships from the Philippines and Japan each, for the first time ever, conducted a joint exercise in the contested waters. This exercise followed a bilateral defence treaty, termed the Reciprocal Access Agreement (RAA), signed between Manila and Tokyo to facilitate joint exercises for closer security cooperation, amid China's growing assertion in the regional resource-rich waters.

US Central Command's General Michael Kurilla arrived in the region on Saturday amid preparations for a possible attack by Iran on Israel in response to the recent killings of senior Hamas and Hezbollah leaders, US-based news website Axios reported, citing two US officials. General Kurilla's visit, which was planned before the recent escalation between Israel, Iran, and Hezbollah following the killing of Hamas political bureau chief Ismail Haniyeh in Tehran, is now seen as a strategic move. He is expected to mobilise the international and regional coalition that previously defended Israel against an attack from Iran on April 13, Axios reported, citing a US official. Three US and Israeli officials said that they expect Iran to launch an attack on Israel as early as Monday. Iranian and Hezbollah leaders have pledged to retaliate for the killings of Hezbollah's top military commander, Fuad Shukr, and Hamas political leader Ismail Haniyeh.

Draft rules for the legalisation of casinos, which include an initial 30-year casino license with a 10-year renewal option, have been published for public feedback until August 18. The casinos will be part of large entertainment complexes featuring hotels, convention centers, and amusement parks, among other amenities. Thailand would thus join the ranks of the United Arab Emirates and Japan in vying for a share of the global casino industry, estimated to have generated $263 billion in revenue last year. Major players like Galaxy Entertainment Group Ltd. and MGM Resorts International have shown interest in opening casino resorts in Thailand, considering it a strategic move against the uncertain prospects in Macau. Las Vegas Sands Corp. expressed interest in entering the Thai market, stating last month it would consider expanding to Thailand if the opportunity arises.

Technology (MIT) published a path-breaking initiative titled ‘Management in the Nineties’, in which it suggested that the evolution of technology through phases of localised exploitation and internal integration would suddenly encounter a revolution in the form of business process reengineering, business network redesign, and finally, business scope redefinition. Today, well into the 21st century, all leaders and managers are willing to take the recursive relationship between IT and business strategy for granted, and only a corporate dinosaur would still lack awareness about digital technologies. If one were to mount a similar research today, the focus would surely be on data, analytics, artificial intelligence, machine learning and the impact these have on business processes. Managerial responses would have to be calibrated based on the level of maturity the firm has attained in data capture, ingestion, storage and dissemination, and the comfort it has in taking managerial decisions based on predictive and prescriptive analytics.

women boxers at the centre of a gender row at the Paris Olympics took up the sport to escape from bullies: Lin Yu-ting had an abusive father while Imane Khelif was roughed up by boys in her village. Both find themselves embroiled in a global maelstrom that has sparked reaction from US presidential candidate Donald Trump, Harry Potter author J.K Rowling and a host of commentators. Online, they have been subjected to «an awful lot of abuse», Mark Adams, spokesman for the International Olympic Committee, said on Friday.

Bangladesh has accused the Pakistan High Commission in Dhaka of interfering in the internal affairs of the country through its tacit support and active guidance to the radical student protestors in the country. This comes as the movement led by radical Jamaat-e-Islami and the opposition BNP intensified in Bangladesh. Several reports suggested that the Pakistan mission is in touch with a section of student protesters belonging to pro-Pakistan Jamaat, which is banned in Bangladesh. The country has seen weeks of often violent protests over Prime Minister Sheikh Hasina-led government's decision to offer quota in government jobs to children of 1971 freedom fighters as opposed to family members of pro-Pakistan and anti-liberation figures during the country's freedom struggle.

Microsoft had to safeguard itself and their founder's repute by taking one rather unusual steps, starting with keeping young interns away from Bill Gates due to his 'flirty' nature, that could have landed him and the employees at the workplace in a bit of a problem.

mortal remains of a fisherman who died at sea to the Indian Navy near the International Maritime Boundary Line (IMBL) in the wee hours on Saturday, an official release here said. Indian Navy ship, INS Bitra, which was on deployment off Rameshwaram, coordinated with the Sri Lankan Navy ship and received the fishermen and the dead body at sea at about 1 am. The Indian Navy ship then proceeded to Rameshwaram, where the Navy Officer from the Naval Detachment coordinated with marine police and Tamil Nadu Fisheries department in transferring the mortal remains and the fishermen, at around 3 am, the release said. On August 1, a fisherman from Tamil Nadu's Rameswaram reportedly died and another went missing when the boat in which they were fishing in the mid-sea capsized after colliding with the Sri Lankan Navy ship.

global food security, said Indian Prime Minister Narendra Modi while Speaking at the inauguration ceremony of the 32nd International Association of Agricultural Economists (ICAE). «Along with water shortage and climate change, nutrition is a big challenge but India has a solution for this — India is the biggest producer of millets — to which, the world called as a superfood, we have named it as Shri Ann. Based on the principle of minimum water and maximum production, India's superfood can solve the issue of global nutrition concern. India is willing to share its basket of superfoods with the world,» the Prime Minister said in his address. Moreover, India is promoting chemical-free natural farming, he added.

Happy Friendship Day 2024 Wishes: Friendship Day is celebrated to honor the special bond of friendship that enriches our lives. In India, Friendship Day will be observed on August 4, 2024, the first Sunday of August, aligning with celebrations in the United States and several other countries. Meanwhile, International Friendship Day, recognized by the United Nations, takes place on July 30 each year. Friendship Day is celebrated on different dates worldwide. In the US, it coincides with National Friendship Day on the first Sunday of August. In some South American countries, it is observed on July 20. The United Nations established International Friendship Day in 1998 to highlight the role of friendship in fostering peace and understanding among people globally.

Here's what top brokerages have to say on the biggest IPO of this year:

Friendship Day is a special occasion dedicated to honoring the importance of friends in our lives. In 2024, this day will be observed on August 4 in the United States, India, and several other countries. International Friendship Day, recognized by the United Nations, is celebrated on July 30. This day highlights the value of friendships and offers a chance to express gratitude for these important relationships.

Advent International plans to tap the capital markets to list portfolio company Manjushree Technopack Ltd, India's largest rigid plastic packaging solution provider, said people aware of the development. A successful listing will help monetise a part of Advent's six-year investment in the entity that counts brands such as Coke, Pepsi and Bisleri among its customers. The private equity group has hired JM Financial, ICICI Securities, Avendus Capital and Goldman Sachs to manage the IPO. It had hired Avendus and Goldman Sachs earlier this December to find potential buyers for Manjushree.

BENGALURU : Goa’s appeal is now extending beyond holidaymakers and retirees. Real estate developers from across the country are gearing up to launch projects in the popular holiday destination, led by high demand from wealthy individuals and non-resident Indians. The launches lined up include luxury villas, apartments as well as plotted development projects.

NASA) effort to the International Space Station (ISS), the Human Space Flight Centre (HSFC) of Isro has entered into a Space Flight Agreement (SFA) with NASA-identified service provider Axiom Space, for its upcoming Axiom-4 mission to the ISS. The India-US joint statement during the official state visit of Prime Minister Narendra Modi to the US in June last year envisioned a joint Isro-NASA effort to the ISS. «A National Mission Assignment Board has recommended two Gaganyatris as prime and backup Mission Pilot for this mission,» Isro said, in a statement on Friday. These are Group Captain Shubhanshu Shukla (Prime) and Group Captain Prasanth Balakrishnan Nair (Backup). The assigned crew members will be finally approved to fly to the ISS by the Multilateral Crew Operations Panel (MCOP). The recommended Gaganyatris will commence their training for the mission from the first week of August. During the mission, the Gaganyatri will undertake selected scientific research and technology demonstration experiments on board the ISS as well as engage in Space outreach activities.