Today’s Top 10 News: From Adani Stock meltdown fiasco creating upheaval in India’s neighborhood to Asia Cup moving out of Pakistan; here is the top pick for you
Today’s Top 10 News: DNP News brings to you top 10 breaking stories of the day to keep you abreast of all the latest developments from India and around the world.
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1. Adani stock market fiasco is having ripple effects on India’s neighborhood
The Adani Power project, intended as a significant Indian infrastructure drive to deliver electricity to Bangladesh, may be delayed by another six months as a result of a dispute over the price of coal and this week’s drop in its share prices and credit ratings, according to local sources. The project is one of many in the area that have accompanied the Narendra Modi-led government’s “Neighborhood First” policy in recent years, including ones in Bangladesh, Sri Lanka, Nepal, and Myanmar. In September 2022, Bangladesh Prime Minister Sheikh Hasina and then-Sri Lankan President Gotabaya Rajapaksa met with Gautam Adani, the Adani chairman, to discuss the major announcements. Adani family members have also met with key authorities from Myanmar and even Indonesia.
2. Insurance companies being investigated for widespread tax evasion
According to the head of India’s direct tax department, the Income Tax Department is likely to soon begin prosecuting insurance companies because it has discovered widespread industry-wide irregularities and “tax evasion” in the commission payments made to agents while eluding rules established by the insurance regulator. We recently conducted some investigations and uncovered numerous discrepancies in the way they were disbursing commission. According to Nitin Gupta, chairman of the Central Board of Direct Taxes (CBDT), “all the insurance businesses, be it any insurance company you name.”
3. Adani stock crash will have no impact on economy: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman responded on Saturday to inquiries about whether the ongoing Adani Group issue could escalate into a significant financial crisis and what actions the government was taking in this regard by saying that regulators would carry out their duties.
4. Union Minister Anurag Thakur; India stands third in the global “start-up” ecosystem
On February 4, Union Minister Anurag Singh Thakur said that with 90,000 “Start-Ups” and 107 unicorn firms worth $30 billion, India had become the global centre of the “Start-up” ecosystem. Speaking at the 36th Inter-University North Zone Youth Festival (Antarnaad), which was organised under the auspices of the Association of Indian Universities (AIU) and held at the Jammu University, was the Minister for Information and Broadcasting, Youth Affairs, and Sports.
5. Chinese balloon downed by the US, amid escalating US-China tensions
Following its passage over important military locations in North America, a suspected Chinese surveillance balloon was shot down by the United States on February 4 on orders from President Joe Biden, creating the newest source of contention between Washington and Beijing.According to U.S. officials, Mr. Biden intended to bring the balloon down on Wednesday but was told that it would be best to do so when it was over water. Military experts concluded that dropping it down over land from a height of 60,000 feet would put people on the ground in unnecessary danger.
6. Despite its economic difficulties, Sri Lanka celebrates its independence day
On Saturday, Sri Lanka celebrated its 75th anniversary of independence while still being in financial ruin, with many people feeling scared, furious, and unmotivated to celebrate. In response to what they viewed as a waste of money during a dire economic situation, several Buddhists and Christian clergy had announced a boycott of the event in the capital.
7. The new oil map: How India converts Russian crude into fuel for the West
As it purchases more and more inexpensive Russian oil and refines it into fuel for Europe and the US, India is playing an increasingly significant role in the world’s oil markets.However, New Delhi hasn’t encountered any backlash from the public since it’s achieving the dual objectives of the West, namely to reduce Moscow’s energy revenue and avert a disruption in the oil supply. And as Europe tightens its sanctions, India will only play a bigger role on the new oil map that Vladimir Putin’s year-long conflict in Ukraine has created.
8. “Teflon” Elon Musk prevails once more as jury rejects claims of Tesla tweet fraud
Once again demonstrating his legal toughness, Elon Musk.In only two hours on Friday, a federal jury in San Francisco exonerated Telsa Inc.’s CEO of charges by investors that he had misled them when he tweeted, four and a half years earlier, that he was thinking about taking the business private and had “money secured” to make the sale happen. The result was another win for the billionaire’s go-to attorney, Alex Spiro, in a contentious trial that many high-profile business leaders would have avoided by reaching a settlement outside of court.
9. Pakistan may not host the Asia Cup; the location will be decided in March
Following a lacklustre outcome at a meeting of the Asian Cricket Council (ACC) in Bahrain, a final decision on whether Pakistan would serve as the host nation for the 2023 Asia Cup is now anticipated in March. Around the following round of ICC meetings, they will get together once more in a month. When ACC president and BCCI secretary Jay Shah said that the 2023 Asia Cup would be hosted in a neutral location because India couldn’t travel to Pakistan, the uncertainty surrounding the tournament started.
10. Chitrashi Rawat, Shahrukh’s co-star in “Chak De India,” marries Dhruvaditya Bhagwanani
Chitrashi Rawat, who played hockey player Komal in Shah Rukh Khan’s “Chak De India,” wed her longtime partner Dhruvaditya Bhagwanani on Saturday. In front of their friends and family, the couple exchanged vows in a private ceremony in Bilaspur. Shilpa, Vidya, and Tanya, three of her Chak De India co-stars, accompanied the actress on her special day. Celebrities from television, like Delnaaz Irani, Moonmoon Banerjee, and Sayantani Ghosh, attended the festivities.
