Your SandeshBox for the week

4 September to 10 September

Author

Team SandeshBox
September 10, 2023

Business

  1. Jet Airways founder arrested

    Naresh Goyal, the founder of Jet airways, was arrested by the ED for money laundering and diverting business loans for personal expenses to the tune of 538 crores.

  2. Sony-Zee deal halted again

    The Sony-Zee merger, set to be finalized by September 30, 2024, has encountered yet another challenge from IDBI Bank. This financial institution, a lender to Zee, has raised concerns about a "non-compete clause" in the deal, which they argue puts them at a disadvantage and could potentially be fraudulent

  3. Ad-free facebook?

    Meta may offer ad-free subscription versions of Instagram and Facebook in the EU in response to EU’s increase scrutiny on Meta’s data collection policies.

  4. Tata’s could buy Haldirams

    Tata Group is are in talks to acquire a 51% stake in Haldiram's. However, there are ongoing complications as the promoters of Haldiram's are insisting on a valuation of $10 billion. However, Tata Consumers have officially denied these acquisition reports.

  5. EV race heats up

    Electric scooter manufacturer Ather Energy has raised $108 Million from existing investors Hero MotoCorp and GIC through rights issue.

    Ola Electric raises $140 Million at a $5.4 Billion valuation from existing investors with Temasek leading the round.

India

  1. G-20 recap

    Xi Jinping did not attend G20 summit in New Delhi even with Xi Jinping having a word with PM Modi on the sidelines of BRICS summit.

    The G20 expanded to G21 by granting the African Union permanent membership, signifying a significant victory for India in its pursuit to represent itself as the leader of the global south.

    In another win, G-20 unanimously adopted the New Delhi declaration which is being touted as the first ever unanimous adoption of a G20 declaration.

  2. One Nation One Election

    A high-level committee has been set-up to explore the idea of simultaneous elections for state legislature, Rajya Sabha, and Lok Sabha seats, akin to the American system. Their focus is on establishing a legal framework for this and not on the feasibility of such an election. An emergency parliamentary session called on 18 September might be connected to this proposal.

  3. Pragyan rests, Aditya ventures on

    Pragyan rover is now asleep on the Moon to preserve its life with Aditya L1 now well on it’s way to the Lagrange point 1, the mid-point of the sun and earth from where it will observe and report.

  4. Udayanidhi Stalin's 'Sanatana Dharma' Remark Sparks Debate

    Udayanidhi Stalin, son of Tamil Nadu CM & DMK chief MK Stalin, referred to the need to eradicate diseases and to remove rigid and orthodox concepts associated with ‘Sanatana Dharma’. The issue has stirred significant controversy, with BJP officials urging the opposition alliance 'INDIA' to clarify its position on the matter.

  5. UPI set to get an upgrade

    NPCI has now enabled voice-based and NFC-based payments! Along with launching Tap & Pay and credit line on UPI

Sports & Culture

  1. IPL teams to IPO?

    IPL teams like the Delhi Capitals & Kings XI Punjab want to go for an IPO. The raised capital will allow teams to buy or maintain teams in similar leagues across the world.

  2. Anand loses India Chess Top spot

    Viswanathan Anand has finally been unseated as India No. 1 after 37 years by 17 year old Gukesh D in the official FIDE rankings.

  3. Cricket in Olympics!

    Cricket has a high chance of being added to LA 2028 Olympics. However, roadblocks persist and no final decision has yet been taken.

  4. Ambani invests in Alia’s brand

    Reliance Retail has acquired a 51% stake in Ed-a-Mamma, the kids and maternity-wear brand founded by actor Alia Bhatt. The valuation is around 300-350 crore.

  5. SRK’s Jawan breaks records

    SRK's latest movie, 'Jawan,' raked in an impressive 150 crore on first day of release. Within just 3 days, it has close to the 400 crore mark, poised to secure a spot in the top 5 highest-grossing bollywood films.

Global

  1. Rain douses ‘Burning Man’

    Burning Man, the global music festival with over 500,000 attendees and lasting over a week, was hit by severe rain storms leading to 70,000 people being stuck in deep mud in the desert.

  2. France faces scrutiny in africa

    France is encountering escalating challenges in Central Africa. Following a coup in Niger with popular backing, there is a demand for the expulsion of the French Ambassador due to perceived actions against Niger's interests. This incident follows a separate coup in Gabon that ousted a leader supported by France.

  3. Apple loses $200 billion as China bans Iphone

    Apple shares lose $200 billion as China bans foreign-branded devices, including Apple, in central government offices to reduce reliance on foreign tech and bolster cybersecurity. The ban might extend to government-backed agencies and state companies like PetroChina which employ millions.

  4. Rising oil prices might push rupee to 85

    Oil prices on a high at 90$ per barrel as Saudi Arabia and Russia extended their voluntary supply cuts of a combined 1.3 million barrels per day to the end of the year. Analysts expect this to push the rupee to 85 vs the dollar

  5. Unexpected winners in the AI boom

    Anguilla, a tiny Caribbean island with a population of 15,000, has the rights to the domain .ai like India does the domain .in and with the recent surge in AI projects, the tiny island expects to bring $30 Million in 2023.

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