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economictimes.indiatimes.com / 1 year ago
cnbc.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Kirsty Coventry elected first woman president of Olympic movement
Kirsty Coventry became the first woman and African to be elected president of the International Olympic Committee on Thursday, declaring it to be an «extraordinary moment».
At 41, the two-time Olympic swimming champion is also the youngest person ever to be elected to the most powerful position in sports governance.
The Zimbabwean Sports Minister succeeds Thomas Bach, who steps down after 12 years, and said she would work with the six other heavyweight rivals she beat.
«This is an extraordinary moment. As a nine-year-old girl I never thought that I would be standing up here one day, getting to give back to this incredible movement of ours,» Coventry said.
«This is not just a huge honour but it is a reminder to every single one of you that I will lead this organisation with so much pride, with the values at the core.
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»And I will make all of you very, very proud and, I hope, extremely confident in the decision you've taken today.
«Thank you from the bottom of my heart.»
Coventry, who was strongly believed to be Bach's favoured candidate, was thought to be in a tight-run race with IOC veteran Juan Antonio Samaranch Junior and World Athletics chief Sebastian Coe.
However, to general surprise the race was over after the first round of voting with 49 of the 97 votes cast by the IOC members placing their faith in her.
Samaranch Junior garnered 28 votes and two-time Olympic 1500 metres champion Coe a humbling eight.
For both of them, their dreams of one day being IOC president are over with Samaranch now 65 years old and Coe 68.
Although she fought a low-key media campaign compared to Coe and Samaranch Junior, son of the legendary president of the same name, her lobbying was so effective that one
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21.05 / 10:17
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Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
21.05 / 10:17
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Even at $5 trillion, Nvidia is underappreciated
Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.
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markets
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21.05 / 09:47
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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PI Industries’ weak core business keeps investors on edge
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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Subscribe to enjoy similar stories.MUMBAI: India’s listed electronics manufacturers are under pressure to defend profitability as the mobile-phone assembly boom slows, prompting a shift towards higher-value industrial electronics.Investors remained jittery through the last fiscal, driven by concerns that slowing consumer sentiment could weigh on the rapid growth that electronics manufacturing services (EMS) firms have delivered so far.In an interview with Mint, Jasbir Singh Gujral, managing director of Syrma SGS Technology Ltd, India’s second-largest listed EMS firm, said, “We’re increasingly looking to capture a larger chunk of contracts from defence, aerospace and med-tech verticals, all of which represent opportunities for original design manufacturing, and also bring significantly higher margins. We’ve already started this transition, and we plan to do more of it this fiscal.”Beyond mobile phones and laptops, EMS firms are expanding into smart metres for electricity boards, aerospace and defence subsystems, railway safety instrumentation, printed circuit boards and display assemblies, and medical devices deployed in hospitals.India’s annual mobile phone shipments have remained subdued since the covid-19 pandemic, with industry estimates pointing to a single-digit decline this calendar year from 152 million smartphones shipped last year.The margin pressure driving this shift is increasingly visible.In FY26, Syrma SGS reported an operating margin of 7.1%, up 2.3 percentage points.
