SandeshBox for the week

India

• India to issue Canadian visas again!

  1. In a sign of easing tensions, India has re-started the issuance of visas for Canadian business travelers, conference attendees, however tourist, student and film visas still remain unavailable.

  2. Context: .India had suspended all visa facilities in Canada after allegations by PM Trudeau over Indian involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar.

• India or Bharat? The debate resumes

  1. A high-level committee set up by the NCERT has recommended that the country’s name ‘India’ be replaced in school textbooks with the word ‘Bharat’.

  2. However, NCERT clarified that the panel’s recommendations have not been approved yet.

  3. This has re-ignited the debate that started after G20 invites were sent by ‘President of Bharat’ instead of ‘President of India’.

• Qatar sentences 8 ex-navy personnel to death

  1. A Qatari court has sentenced 8 retired Indian Navy personnel to death for alleged espionage on Israel’s behalf while working with Al Dahra, a local company involved in developing a stealth submarine.-

  2. The Indian external affairs ministry while expressing shock over the decisions said that all legal options would be explored and the matter would be taken up with Qatar.

Business

• Tata’s to make iphones

  1. The Taiwan-based Wistron Corp, a contract manufacturer for Apple, will sell its India unit to the Tata Group for $125 million, making the salt-to-software conglomerate the first ever Indian iPhone-maker.

  2. The Tata Group is expected to start making Apple iPhones in India for domestic and global markets within 2.5 years.

• Mamaearth to IPO

  1. Honasa consumer, parent company of Mamaearth, is set to open for it’s IPO on 30 October with a valuation aim of $1.3 billion (10,500 crore), which is a marginal increase from it’s $1.2 billion valuation in its last funding round in January 2022.

  2. The total issue size is of 1,701 crores with only 365 crores as fresh issue with rest going to secondary sale of existing investors.

  3. It has posted a loss of 151 crore in the FY23, against a profit of 14.4 crore last year.

• Big oil is joining hands

  1. Chevron has acquired Hess Corp for $53 billion, following ExxonMobil's $60 billion deal with Pioneer Natural Resources, indicating industry consolidation.

  2. The consolidation comes at a time when the IAEA has forecast global oil consumption to peak before 2030 and fall by half by 2050 to about 55 million barrels per day.

  3. Consolidation aids US energy sector in ESG advocacy, enhances price control, and maintains cash reserves for investor rewards or exploration needs.

• Ola Electric raises $240mn in debt & $140mn in equity

  1. E-scooter maker Ola Electric has raised Rs 3,200 crore ($380 million) — about Rs 2,000 crore ($240 million) in debt from SBI and Rs 1,200 crore ($140 million) in equity from Singapore state investor Temasek.

  2. The company is using the money to expand EV manufacturing and start battery production.

  3. Ola Electric has an overall target of raising $300 million in equity before it files for a public offering. It is targeting a valuation of $9-10 billion

• Kazakhstan nationalizes Arcelor-Mittal plant after fire 

  1. Kazakhstan has confirmed the nationalization of ArcelorMittal Temirtau which operates the country’s largest steel plants and several coal and ore mines following a coal mine fire that killed at least 32 workers while another 14 are missing.

  2. The fire is the latest in a string of workplace deaths at sites operated by ArcelorMittal Temirtau. In August, four miners were killed after a fire erupted at the same mine, while five people died following a methane leak at another site in November 2022.

Sports, Culture & Everything else

• India on top in world cup!

  1. The World Cup's current phase sees India, South Africa, New Zealand, and Australia establishing themselves as the leading teams.

  2. Today's India vs England match holds significant importance for England, being a do-or-die situation.

  3. The AUS vs NZ match, marked by an impressive 800 runs, culminated in a thrilling last-ball victory for Australia by a margin of 5 runs.

• Future Netflix documentary? Fakes death, caught after 20 years #

  1. Ex-Navy steward Balesh Kumar evaded police for 20 years after faking his death and helping his wife claim the insurance money. His wife even collected his Navy pension all these years.

  2. His escape follows three murders and 2 robberies, emulating a netflix plot.

  3. Delhi Police finally apprehend Kumar, ending his long run, thanks to a crucial tip-off.

• Loss and Legacy: Noteworthy demises #

  1. Indian cricket legend Bishan Singh Bedi, former captain, dies at 77 after a long illness.

  2. Parag Desai, owner of Wagh Bakri tea brand, succumbs to brain hemorrhage following a fall while trying to escape stray dog attack sparking the conversation on stray dogs again.

  3. In other dog related news - World's oldest dog, a 31-year-old purebred Rafeiro do Alentejo, passed away.

• Interesting tidbits

  1. Ed Sheeran to play in Mumbai as part of his Mathematics Asia tour on 16 March 2024. This will make it his third tour after 2015 & 2017. #

  2. IIM-B pips IIM-A to become the top-ranked MBA course in the country, with IIM-C & ISB also featuring in the Top 100 list with Stanford being the best overall MBA program in the world.

  3. Tilottama Sen (15) became the youngest Indian to qualify for the Olympics after she clinched silver in the 10m air rifle at Asian Championships.

  4. Mukesh Ambani’s three children won the shareholder approval for being part of the board of RIL.

  5. Mumbai's iconic Padmini cabs, known as 'Kaali-Peeli', succumb to newer models and app-based services, with the last one retiring on Monday.

Global

• Israel-Hamas update

  1. Egypt hosted a peace summit with Arab, European, and African nations with the notable absence of the US with Arab leaders heavily criticizing the Western bias towards Israel.

  2. European leaders, under pressure from massive protests in France and UK, urge Israel to uphold international law and protect Palestinians while re-iterating Israel’s right to defend itself.

  3. A follow-up of 14 aid trucks entered Gaza, following the initial 20. Despite Biden's pledge for ongoing aid, Israel's airstrikes have escalated.

  4. India has sent 6.5 tonnes of medical aid and 32 tonnes of disaster relief material to Gaza via Egypt after talks between PM Modi and Palestinian authority president Mahmoud. #

  5. US conducted strikes on sites in eastern Syria used by Iran in response to ongoing Iranian-backed militia attacks on US personnel in Iraq and Syria since October 17. Attacks from both sides were minor and did not result in any deaths on either side.

  6. This comes after the Secretary of State Antony Blinken on Tuesday warned Iran that the US will respond “decisively” to any attack by its proxies amid the Israel-Hamas war.

  7. Israel has banned UN representatives from visiting the country “to teach them a lesson” after secretary-general Antonio Guterres said the Hamas attacks had to be seen in context of “years of suffocating occupation”.

  8. India abstained from voting on a UN resolution calling for an immediate humanitarian truce in the Israel-Hamas crisis. Moved by Jordan, the resolution sought unhindered humanitarian access to Gaza but did not mention the atrocities committed by Hamas that has led to the crisis.

  9. Israel's conducted and then later expanded it’s ground operations in Gaza moving it’s troops in the northern part of Gaza hinting at the initiation of a long-anticipated ground offensive against Hamas militants.

  10. More than 1,400 people in Israel and 7,000 Palestinians have been killed amid fighting between Israel and Hamas.

  11. The conflict is still expected to drag on and create major geo-political waves affecting almost every country in some way.

• Italian PM Meloni announces separations! #

  1. Italian PM Giorgia Meloni ends relationship with TV journalist Andrea Giambruno after he was filmed making inappropriate advances.

  2. Video shows Giambruno propositioning a colleague during a live broadcast, asking about her relationship status and suggesting group sex.

  3. Meloni confirms breakup but does not comment on Giambruno's behavior. Cue the Modi-Meloni memes😂

• Nawaz sharif is back from exhile, again! #

  1. Nawaz Sharif, former PM of Pakistan, has returned to Pakistan after nearly 4 years in self-exile.

  2. He addressed a 75,000 people strong rally with his younger brother, the current PM, Shehbaz Sharif. He also hinted at improving relations with India.

  3. Disqualified in 2017 for corruption, he evaded a 7-year prison term in 2018 by fleeing to London, citing medical reasons.

• Little-known republican appointed US speaker

  1. Little known hard-right republican Mike Johnson was appointed as the 56th Speaker of the United States House of Representatives.

  2. At only six years and ten months, he has the shortest tenure of any House member elected speaker in 140 years. He is a staunch Trump loyalist and is known to have ultra-conservative values and opposes reproductive rights.

  3. Context: Kevin McCarthy was removed as the house speaker marking the first time in history that the House removed its leader due to inability to cut federal spending.