SandeshBox for the week

India

• SC denies abortion after 24 weeks

  1. A woman, over six months aka 24 weeks pregnant, sought SC permission for an abortion due to mental health concerns.

  2. The Court rejected her plea, citing legal provisions that ‘abortions after 24 weeks are allowed only if vital for the mother's life or if the foetus suffers from physical/mental issues.

  3. Check out Splainer’s coverage on the case and abortions here.

• Same-sex marriage not allowed

  1. A five-judge constitution bench, led by CJI DY Chandrachud, unanimously rejected legalizing same-sex marriages, stating marriage isn't a fundamental right but regulated by laws.

  2. They stated that they could not alter the Special Marriage Act to allow same-sex marriages, as that would be the Parliament's role and not the judiciary.

  3. The majority supported transgender persons' right to marry under existing laws, distinguishing gender identity from sexuality.

  4. CJI Chandrachud and Justice Kaul were in favour of allowing adoption for same-sex and unmarried couples and advocating for civil unions, however the majority outvoted them 3-2 and left it to the parliament to decide for both.

  5. Check out Splainer’s insightful coverage on the issue.

• Indian bid for 2036 Olympics

  1. India has confirmed that it will bid to host the 2036 Summer Olympics. PM announced India's bid at the International Olympic Committee (IOC) session in Mumbai.

  2. IOC is expected to decide in 2026 or 2027

  3. Modi also told the IOC that India would consider bidding to host the 2029 Youth Olympics. The venue is likely to be Ahmedabad.

• India-Canada rift ongoing

  1. Canada has withdrawn 41 diplomats from India after India had requested parity in diplomatic presence.

  2. Context: Canadian PM Trudeau's assertion of Indian involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar caused a diplomatic dispute. This led to the recall of diplomats from both nations and India's suspension of visa services in Canada with India also asking Canada to further reduce its diplomatic presence.

  3. India justified its move, contending that it did not breach global norms. It pointed out that Canadian diplomats stationed in India were involved in meddling with internal matters.

  4. The US and UK supported Canada's position, emphasizing the importance of diplomats in conflict resolution and urging India to follow the Vienna convention. They also requested India's cooperation in investigating the murder.

• MP Moitra accused of accepting bribes to question Adani

  1. First-time MP Mahua Moitra has been accused of accepting bribes from Hiranandani group to question government favoritism towards Adani, after the group lost projects to Adani.

  2. Initially, Hiranandani group denied involvement, but in a turn of events businessman Darshan Hiranandani confessed to bribing Moitra.

  3. Moitra's ex-partner, Jai Anant Dehadrai, is said to have informed Dubey, prompting investigation by Lok Sabha Ethics Committee.

Business

• Zetwerk and Agnikul Cosmos raise funding

  1. B2B custom manufacturing unicorn Zetwerk has raised $120 million led by Avenir Growth Capital but its valuation remained flat at $2.7 billion in Series F financing round.

  2. Spacetech startup Agnikul cosmos has raised $26.7 million funding to develop a 3D-printed rocket and it’s own launch vehicle.

• Byju’s getting a lifeline?

  1. Ranjan Pai, chairman of Manipal Group, is set to invest over $300 million in Aakash, an offline tutoring firm now under Byju’s ownership. Pai's association with Byju Raveendran dates back a decade, with Pai initially funding Raveendran's edtech venture, Think & Learn.

  2. This investment will enable Pai to acquire stakes held by Blackstone and Davidson Kempner in Aakash. Davidson, after providing $100 million through convertible bonds, threatened takeover of Aakash due to contractual breaches by Byju’s.

  3. With Pai's entry, Davidson is poised to profit $160-170 million from their initial investment. Pai will also facilitate Blackstone's complete cash exit, as they currently own a 12% stake.

  4. The Chaudhry family, with an 18% stake in Aakash, is anticipated to retain 10%. The remaining shares will be converted into Byju’s holdings, as outlined in the original agreement.

  5. Aakash Chaudhry is expected to resume his role as CEO of Aakash Classes under a broader arrangement with incoming investor Ranjan Pai and edtech giant Byju’s. Byju’s parent company, Think & Learn, is poised to secure a majority stake of 51%, up from the current 43%.

• Tata Neu might get another billion

  1. Tata Group considers injecting an additional $1 billion into its super app venture, building upon the initial $2 billion investment earlier in the year, aiming to enhance its digital business.

  2. The conglomerate encourages the super-app venture to explore external funding options, emulating the strategy of rival Reliance Retail who recently raised at a $100 billion valuation.

  3. Also, The Ratan Tata Endowment Foundation acquired a minor stake in Tata Digital, with analysts estimating a $15 billion valuation.

  4. Under Tata Digital, various online assets like Croma, BigBasket, Cliq, and 1mg are consolidated.

Sports, Culture & Everything else

• Week of upsets in world cup

  1. Afghanistan upset defending champions England by beating them by 69 runs. This was Afghanistan's second ever win in the tournament.

  2. In the second major upset, Netherlands beat South Africa by 38 runs with this being Netherland’s first ever win against a test playing nation in the world cup.

  3. India's strong performance continues, with Kohli's century securing a win against Bangladesh. They face table-toppers NZ today in a crucial match.

• Cricket finally an Olympic sport!

  1. Cricket is set to make a historic return to the Olympics at the 2028 Summer Games in Los Angeles, with six men's and six women's teams competing.

  2. The inclusion of cricket, especially the popular T20 format, holds significant financial potential for Olympic organizers, as India, a cricket powerhouse, has yet to sell its TV rights for the event which could fetch an additional $100 million.

  3. 4 other sports like Flag football, baseball-softball, Squash and lacrosse have also been added to 2028 Olympics.

• PVR launches PVR passport

  1. PVR introduces INOX-PVR Passport at ₹699/month, offering 10 monthly movie viewings, encouraging people to watch smaller budget films in theaters.

  2. Accessible on weekdays (Monday to Thursday) and limited to regular screens, excluding IMAX and special screens.

  3. Notably, the scheme has limited availability in the south region and excludes specific cinemas; comprehensive details can be found here.

• ManU close to sale

  1. British billionaire Sir Jim Ratcliffe is close to buying 25% of Manchester United football club for £1.3 billion ($1.6bn) from the Glazer family. He is expected to have the option to acquire remaining shares.

  2. Ratcliffe is the founder and chairman of the chemical company INEOS. His company is expected to get operational control.

  3. This is after Qatar's Sheikh Thani informed the Glazer family that he will not improve on his $6 billion bid.

• Interesting tidbits

  1. Twitter (X) has introduced $1/year fee for basic features (likes, reposts) on the web version to fight bots/spam. Opt-out users to be limited to only reading the content.

  2. Rohit Sharma was fined twice for over speeding in his Lamborghini Urus on the Mumbai-Pune Expressway en route to join the India-Bangladesh match.

  3. Google has announced plans to manufacture latest Pixel smartphones in India, with devices expected in 2024.

Global

• Israel-Hamas confrontation

  A lot has happened in this conflict, we give you the major events you need to keep making sense of the situation.

  1. Context: Hamas, the prominent Palestinian militant Islamist group, attacked Israel, prompting Israel to declare a state of war and conduct multiple air strikes on Gaza. Read previous week’s edition here.

  2. President Biden arrived in Israel amidst widespread protests across the Middle East sparked by a Gaza hospital explosion that claimed hundreds of lives. He called for Israel to act with restraint.

  3. Both sides are pointing fingers at each other for the blast, prompting the UN to call for an impartial investigation. While experts suggest the damage doesn't align with an Israeli strike, no definitive conclusion has been reached.

  4. Jordan cancelled a planned summit involving US, Egyptian, and Palestinian leaders aimed at delivering humanitarian aid to Gaza in the aftermath of the explosion.

  5. Iran's Foreign Minister warned of consequences if Israel takes action in Gaza, indicating potential "pre-emptive action" by the "resistance front". Ongoing rocket exchanges persist between Israel and Iran-backed Hezbollah.

  6. A convoy, consisting of 20 aid trucks, was permitted to enter the Gaza Strip from Egypt on Saturday, carrying crucial medicine and food supplies for Palestinians enduring an Israeli blockade.

  7. Hamas released two American nationals held "for humanitarian reasons" after Qatar mediated. Attention is now focused on Qatar's role in facilitating further assistance.

  8. A ground invasions looks more and more likely with Israel ordering Gazan citizens to evacuate North Gaza. Arab leaders have called for de-escalation.

• Global Elections

  1. Ecuador: President Lasso called for early elections in May with an year left in office since he faced impeachment. He backed the left-leaning Gonzalez who has lost to 35 year old banana heir Daniel Noboa.

  2. New Zealand: The kiwis picked right leaning Christopher Luxon’s National party over Jacinda Arden’s labour party due to rising inflation and strict Covid lockdowns.

  3. Poland: The Civic Platform party, in a coalition have won against Poland's right-wing PiS party making Donald Tusk the new polish PM. The PiS party was increasingly questioning the support it gave to Ukraine.

• US bases in Syria attacked

  1. US military bases in Syria are facing drone attacks. One drone was downed, causing minor injuries but no deaths. Similar strikes occurred in Iraq.

  2. Approximately 900 US troops and contractors operate in Syria since 2015 to prevent ISIS comeback

  3. Iran-based groups might be to blame for these attacks after the increased fighting between Israel and Iran-backed hezbollah.

• China hosts Putin in summit

  1. China hosted a summit in Beijing to celebrate 10 years of the Belt and Road Initiative.

  2. There were 130 countriesin attendance, mostly from the global south like Sri Lanka, Pakistan, Indonesia and most notably, Russia.

  3. Vladimir Putin, who cannot travel to most countries due to outstanding arrest warrants for the Ukraine war, attended the summit and hailed the China-Russia relationship as ‘special’.