Month: May 2023

China poses the world’s biggest security challenge- British Prime Minister Rishi Sunak

Manish Kumar

China represents the world’s greatest challenge to security and prosperity, but other leading economies should not seek to fully decouple from it: UK PM said.  Sunak said Britain and other G7 countries would pursue a common approach to reduce the challenges posed by China.   Liz Truss, The Former British Prime Minister during her visit to Taiwan said the West should not “appease and accommodate” China.  Sunak said Britain would start training Ukrainian pilots this summer to support its air force in its war with Russia.  China represents the world’s greatest challenge…

EU to fine ‘Meta’ more than $800 million over data transfer to US: Reports

Manish Kumar

Facebook parent Meta is to be fined more than $800 million, for the company’s failure to comply with European Union court warning related to the data.   The court might also demand that Facebook stop using complex legal instruments to move EU data to the US, called standard contract clauses, reported the media.  Ireland’s Data Protection Commission will punish the social media giant for failing to heed a top court warning aimed at protecting users’ data from the security services in the United States once it’s shipped to servers across…

Putin says the battle for Bakhmut is over in a Russian victory, but Zelenskyy has not confirmed

Manish Kumar

Vladimir Putin has congratulated the Wagner Groups of mercenary fighters and the Russian army today for the “liberation” of the eastern Ukrainian city of Bakhmut.  In a statement published on the Kremlin website, the Russian leader said the battle – the longest and bloodiest of the 15-month war – had ended in a Russian victory.  Volodymyr Zelenskyy has not confirmed the capture by Russian forces of the city, according to his spokesman.  “Bakhmut is not occupied by Russia as of today,” Volodymyr Zelenskyy said to reporters.  At least eight people…

Withdrawing 2000-rupee note from circulation: What it means for India’s economy

Manish Kumar

India will withdraw its highest denomination 2000-rupee note from circulation.  Introduced into circulation in 2016, The 2000-rupee note will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023.  When it was introduced in 2016 they were intended to replenish the Indian economy’s currency in circulation quickly after demonetization.  The value of 2000-rupee notes in circulation is 3.62 trillion Indian rupees ($44.27 billion). This is about 10.8% of the currency in circulation, as per the annual report of RBI.  This time, however,…

Wrestlers’ protest: Top grapplers ready to ‘sacrifice medals for justice’

Manish Kumar

The protesting wrestlers said they were willing to ‘sacrifice’ their careers in the sport, in order to ensure justice for the women grapplers.  They won’t budge till Brij Bhushan Sharan Singh is arrested for alleged sexual harassment of women grapplers including a minor.  “Our fight for justice will continue. We are getting great support from the entire country.” Bajrang said.  IOA panel’s decision to conduct the selection trials for U-17 and U-23 Asian Championships, scheduled to be held in Bishkek, Kyrgyzstan from June 10 to 18.  The protesting wrestlers said…

Debit, credit cards not to be taxed for overseas spending up to Rs 7 lakh: Govt

Manish Kumar

The Union government tweaked the imposition of 20 percent Tax Collection at Source (TCS) on transactions through international credit cards and debit cards under the Liberalised Remittance Scheme (LRS) from July 1 by clarifying that the applicability will only be after a limit of Rs 7 lakh has been breached in a financial year. Faced with massive social outrage, the Finance Ministry admitted that concerns have been raised about the applicability of TCS to small transactions under the Liberalized Remittance Scheme (LRS). “To avoid any procedural ambiguity, it has been…

Kejriwal took a dig at PM on RBI’s ‘₹2000 note’ move: ‘That’s why the PM should be educated

Manish Kumar

Delhi CM Arvind Kejriwal took a dig at PM Modi over RBI’s decision to withdraw its highest-value currency notes from circulation.  Over six years after introducing the RBI announced the withdrawal of ₹2,000 currency notes from circulation. However, it clarified that the currency will continue to be the legal tender.  RBI has given the public time till September 30 to either deposit such notes in accounts or exchange them at banks.  This move led to several opposition parties targeting PM Modi and his government.  Delhi chief minister Arvind Kejriwal took…

Zelenskyy arrived in Japan for talks with G7 leaders, set to hold face-to-face talks with Mr. Biden

Manish Kumar

Ukrainian President Volodymyr Zelenskyy flies in for talks with G7 leaders. Mr. Zelenskyy and Mr. Biden are now set to hold face-to-face talks over the weekend at the G7 summit. Volodymyr Zelenskyy has repeatedly called on the US to provide the fighter jets, but Joe Biden had so far refused the requests. The US and its allies are planning to provide Ukraine with F-16 fighter jets, the White House has said as the US approves sending F-16 fighter jets to Ukraine. The timing for when Kyiv will receive the aircraft,…

Prime Minister’s meeting with Prime Minister of Japan

Manish Kumar

Prime Minister Shri Narendra Modi held a bilateral meeting with H.E Mr. Fumio Kishida, Prime Minister of Japan, on 20 May 2023 on the sidelines of the G-7 Summit in Hiroshima. This was their second meeting in 2023, following the visit of Prime Minister Kishida to India in March this year. Prime Minister thanked Prime Minister Kishida for planting in Hiroshima the Bodhi sapling that had been gifted by Prime Minister Modi in March 2023. Prime Minister recalled that the Indian Parliament commemorated every year the Hiroshima Day, and noted…

India-based Clouds to flourish in future

Manish Kumar

Smith Gonsalves, Director – Cyber Smith SECURE I will just point out two major aspects, if the cloud provider is a foreign-based entity and the customers are in India then it is certainly going to be pretty important to watch how the Indian companies who have sensitive data or working in sensitive sectors are going to collaborate. As I have been looking at some of the companies in India who are not using Cloud like, Oil and Gas, Power sector etc. They are using the India-based Clouds and that is what…