Category: News

  • South Korea’s President Yoon Impeached: Martial Law Scandal Explained

    South Korea’s President Yoon Impeached: Martial Law Scandal Explained

    On Saturday, South Korea’s parliament decided to impeach President Yoon Suk Yeol because of a controversial martial law he declared earlier this month. This move surprised everyone and caused a lot of confusion in the country’s politics, affecting foreign relations and frightening investors.

    Yoon, who used to be a public prosecutor, once helped investigate former President Park Geun-hye. In 2017, Park was impeached and removed from office due to serious charges like bribery and abuse of power. Now, Yoon faces even graver allegations and the Constitutional Court will decide if his actions were rebellious.

    Key Events:

    – Dec. 3: At 10:29 p.m., President Yoon announces martial law on TV. He claims the opposition-controlled parliament is filled with criminals. He says these rivals are hurting the country but doesn’t provide evidence.

    – Dec. 4: After his announcement, soldiers surround the National Assembly to prevent lawmakers from meeting. Despite this, lawmakers gather and vote to lift the martial law unanimously.

    – Dec. 5: President Yoon fires his Defense Minister, who he believes is responsible for the martial law. A party leader now thinks Yoon could take extreme actions again.

    – Dec. 6: The leader expresses concerns about Yoon’s mental fitness and vows to impeach him.

    – Dec. 7: Yoon apologizes for the martial law and says he will deal with the issues caused by his actions. However, a vote to impeach him does not pass.

    – Dec. 8: The former Defense Minister is arrested for his role in implementing the martial law.

    – Dec. 9: The Justice Ministry stops Yoon from traveling as investigations into his actions continue.

    – Dec. 10: A military commander reveals that Yoon ordered troops to prevent lawmakers from meeting, but he did not follow those orders.

    – Dec. 11: The former Defense Minister is arrested again and police look for evidence against Yoon but are blocked by his security.

    – Dec. 12: Yoon defends his actions but faces a new impeachment vote. Other officials are also impeached.

    – Dec. 14: The National Assembly impeaches Yoon with 204 votes in favor. Yoon vows to fight to keep his presidency, waiting for the Constitutional Court’s decision on his fate.

  • Top Smallcap Stocks Soaring This Week: Weekly Gains Revealed!

    Top Smallcap Stocks Soaring This Week: Weekly Gains Revealed!

    This Friday, the stock market bounced back, helping struggling indices end the week positively. Lower food prices and increased costs for everyday products helped certain sectors do really well. Investors are also excited about more spending from the U.S., which is boosting the tech sector (IT).

    Despite a week full of ups and downs, some small companies’ stocks hit their best prices in a year. Here are 8 smallcap stocks that did especially well this week, according to Niftystat:

    – Centum Electronics: The stock reached a new high of ₹2,381.20, bringing in returns of 36.8% this week.

    – Sunflag Iron and Steel Company: This company’s shares climbed to ₹280, gaining 27% WoW.

    – Gokaldas Exports: Stock prices hit ₹1,210, producing a 23.4% increase.

    – Greaves Cotton: Their shares reached ₹259.50, resulting in a 22% rise.

    – Kitex Garments: The stock reached ₹879.10, giving it a weekly gain of 22%.

    – Gujarat Industries Power Company: Shares hit ₹270, bringing in a weekly return of 17.2%.

    – Indo Count Industries: The stock reached ₹450.45 this week, giving almost 17% returns.

    – Vidhi Specialty Food Ingredients: This stock hit its highest at ₹569.55, resulting in a 15.5% rise this week.

    (Information gathered from Ritesh Presswala)

    (Heads up: The recommendations and views here are from experts and do not reflect the opinions of Niftystat)

  • Market Volatility: Impact of Trump’s Election on Global Economies

    Market Volatility: Impact of Trump’s Election on Global Economies

    Recently, there has been a lot of ups and downs in the financial markets, especially after Trump won the US presidential election and the Republicans gained control of Congress. Good news comes from the latest reports showing the US economy is doing well, but inflation could be a problem. People wonder if the Federal Reserve (the US bank) will cut interest rates at their upcoming meeting in December. Right now, many believe there is an 86% chance that the Fed will lower rates, up from 64% last month.

    Meanwhile, the economies in Europe and China are struggling. The European Central Bank is likely to lower rates soon, and China may introduce more money to help its economy in early 2025. There is a chance that Japan’s central bank might not raise rates next week. Because of these differences in economic health, the US dollar is getting stronger against other currencies.

    President-elect Trump has also warned that if BRICS countries (Brazil, Russia, India, China, and South Africa) create a common currency, they might lose access to US markets, which could hurt their currencies. The Chinese Yuan is getting weaker, but China’s central bank is trying to stabilize it. The Indian Rupee is doing a bit better than other Asian currencies because the Reserve Bank of India (RBI) is stepping in to help. However, it’s still declining against the dollar after a poor GDP report.

    The RBI has lowered growth predictions and increased its inflation estimates. They have cut the Cash Reserve Ratio (CRR) by 0.5% to help banks. With a new RBI governor, many think a rate cut is coming soon. This could put pressure on the Rupee, but the government’s goal of reducing its budget deficit means that monetary policy may have to shift to support growth.

    On a brighter note, foreign investments in Indian stocks have bounced back in December after two months of money leaving the market. This has helped the Nifty index recover about 6% from its lows. There are hopes for interest rates and bonds to go down further, creating a potential exit point for investors.

    In summary, the financial market’s ups and downs since Trump’s election might continue as he takes office. It seems like a calmer period is behind us.

    (Disclaimer: The views expressed here are personal opinions and do not represent the views of NiftyStat.)

  • Tigress RVT 03 Gives Birth to Healthy Cub in Rajasthan’s Tiger Reserve!

    Tigress RVT 03 Gives Birth to Healthy Cub in Rajasthan’s Tiger Reserve!

    In Jaipur, a tigress named RVT 03 gave birth to a healthy cub on Friday in the Ramgarh Vishdhari Tiger Reserve, located in Bundi district, Rajasthan. This is great news for the area’s tiger population, as confirmed by an official on Saturday. They spotted the tigress and her newborn cub on a camera set in the reserve.

    The staff at the sanctuary is keeping a close eye on both the mother and her cub to ensure they are safe and healthy, part of ongoing efforts to protect wildlife in the region. PK Upadhyay, the chief wildlife warden, expressed that the birth of this cub is a positive sign for the tiger population, which plays an important role in the sanctuary’s efforts to protect animals.

    Currently, the reserve is home to four adult tigers and three cubs. In November, the forest department moved a 3-year-old male tiger from Sariska Tiger Reserve back into the Ramgarh Vishdhari Tiger Reserve after he had wandered into Haryana in August.

  • Yoon Suk Yeol Impeached: Martial Law Sparks Outcry in South Korea

    Yoon Suk Yeol Impeached: Martial Law Sparks Outcry in South Korea

    Yoon Suk Yeol, the president of South Korea, quickly moved up the political ladder from being a public prosecutor to the country’s leader in just a few years. However, his presidency has been marked by many scandals, and recently, he declared martial law, pushing the nation into a crisis. This move only lasted a few hours, as widespread protests forced him to backtrack. Now, a large majority of South Koreans want him out, and lawmakers voted on Saturday to impeach him.

    Yoon is now the third president in South Korea’s history to be impeached by parliament. If the Constitutional Court agrees with the decision, he will be the second president to be removed from office. He has said he will fight back to keep his position and has accused the opposition of working with the country’s enemies.

    Born during a military dictatorship in 1960, Yoon became well-known as a public prosecutor who fought corruption. He helped impeach Park Geun-hye, South Korea’s first female president, for abuse of power in 2016. In 2019, he also indicted a senior aide from the administration of Park’s successor, Moon Jae-in.

    Yoon won the presidency in March 2022, but his popularity has been low, especially among women. Scandals and poor handling of situations like the 2022 Halloween crowd crush, which killed over 150 people, have hurt his reputation. People blame him for rising food prices, a weak economy, and limiting free speech. His wife also faced controversy when she was caught accepting a designer handbag as a gift, which Yoon defended.

    As president, Yoon has taken a tough approach to North Korea and has tried to strengthen ties with the United States. He even surprised President Biden by singing at the White House. However, his efforts to improve relations with Japan have faced backlash from many South Koreans.

    Since the opposition Democratic Party gained control in parliament, Yoon’s influence has weakened. Recently, he declared martial law, claiming it was necessary to deal with legislative problems. Experts criticized this move, saying it was unreasonable to impose martial law when there was no war or emergency situation.

  • Han Duck-soo Becomes Acting President of South Korea Amid Crisis

    Han Duck-soo Becomes Acting President of South Korea Amid Crisis

    Han Duck-soo is the new acting president of South Korea after the impeachment of Yoon Suk Yeol. Yoon is now suspended because he tried to impose martial law, and the law says that the prime minister, Han, must take over during this time. Han is experienced and respected, having worked in many important government jobs for over 30 years, and he has a strong background in economics from Harvard.

    He has worked with both conservative and liberal presidents, making him a unique choice who is above party politics. Han faces several difficult tasks: keeping the government running during this big political crisis, handling threats from North Korea, and dealing with slowing economic growth. There are also concerns about criminal investigations into his involvement in Yoon’s martial law decision.

    Han has previously served as prime minister and held several roles, including ambassador to the U.S. and finance minister. He helped negotiate the important U.S.-South Korea Free Trade Agreement and speaks fluent English. Yoon chose Han for his skills, saying that Han is the right person to lead and coordinate the Cabinet.

    Han’s time as acting president may last for several months while the Constitutional Court decides the future of Yoon’s presidency. If Yoon is removed, a new presidential election must happen within 60 days, during which Han will stay on. However, Han faces a complaint from the opposition, which could affect his position.

    In South Korea, the Constitution doesn’t clearly say how much power the prime minister has while acting as president. Many experts believe the prime minister can only do what is necessary to keep the government running, while others argue he can exercise full presidential powers.

  • Farmers Face Tear Gas in Ongoing March to Delhi for MSP Rights”

    Farmers Face Tear Gas in Ongoing March to Delhi for MSP Rights”

    On Saturday, farmers trying to march to Delhi faced tear gas and water cannons from security forces at the Shambhu border, which connects Punjab and Haryana. A group of 101 farmers began walking from their protest camp around noon. However, as they got closer to the barricades set up by Haryana security, they were stopped.

    Some farmers were hurt by the tear gas and were taken to a nearby hospital in ambulances waiting at the site. Before this, Ambala’s Deputy Commissioner Parth Gupta and Superintendent of Police S.S. Bhoria spoke with the farmers for over 30 minutes. They asked the farmers to get permission from Delhi’s authorities before continuing their march, but the farmers insisted on moving forward and asked the security forces to let them go.

    The farmers want a legal guarantee for the Minimum Support Price (MSP) for their crops and have raised other concerns. This was the third time they tried to get to Delhi. They had previously attempted to march on December 6 and December 8, but were stopped each time.

    The farmers are protesting under the banners of Samyukta Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha. They are calling for a guarantee on MSP and want the government to talk to them about their issues. The Ambala district administration has imposed restrictions under Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), which prevents gatherings of five or more people. The police have stated that the farmers can only march to Delhi with permission from the Delhi administration.

  • RBI Raises Collateral-Free Farm Loan Limit to ₹2 Lakh for Farmers

    RBI Raises Collateral-Free Farm Loan Limit to ₹2 Lakh for Farmers

    The Reserve Bank of India (RBI) has announced that starting in January 2025, farmers can take out loans up to ₹2 lakh without needing to give any collateral or mortgage. This is a step to help them manage farming costs better, especially with rising prices these days. Right now, farmers can borrow up to ₹1.6 lakh without needing collateral, but this change will make it even easier for them.

    RBI’s decision is important because many farmers rely on loans to help pay for things like seeds, equipment, and fertilizers. By increasing the limit for collateral-free loans, the RBI aims to support the agricultural sector, which is a vital part of India’s economy, contributing around 18% to the country’s total income.

    In the past, the RBI had also raised the limit for such loans from ₹1 lakh to ₹1.6 lakh in February 2019. Banks are now required to lend at least 40% of their total credit to important sectors, like agriculture, to help support people who depend on farming.

  • Navi Mumbai Police Seize ₹12 Crore, Arrest 16 in Major Drug Raid

    Navi Mumbai Police Seize ₹12 Crore, Arrest 16 in Major Drug Raid

    In a major drug raid, the Navi Mumbai Police caught 16 people from Africa who were involved in selling illegal drugs. This operation happened late Thursday night, and the police worked together with special teams called the Anti-Narcotics Cell (ANC) and the Economic Offenses Branch (EOB).

    The drugs seized are worth around ₹12 crore! Here’s what the police found:

    – Cocaine: 2 kg 45 grams, worth about ₹10.22 crore
    – Mephedrone (MD) Powder: 633 grams, worth around ₹1.48 crore
    – Methylene: 58 grams, worth about ₹11.60 lakh
    – Charas: 23 grams, worth ₹3.45 lakh
    – Ganja: 31 grams, worth around ₹6,000

    As an extra measure, the police are also asking around 73 African nationals with expired passports and visas to leave the country.

    This raid is part of ongoing efforts across India to combat the drug trade. Recently in Karnataka, police arrested four people for possessing MDMA, which is another type of illegal drug. They found a lot of cash and drugs during these arrests.

    Earlier this month, the Delhi Police uncovered a massive drug ring, seizing over 560 kg of cocaine worth nearly ₹2,000 crore, believed to be run by Afghan nationals.

    Together, these actions show how serious the authorities are about fighting drug trafficking in India.

  • Sonu Matka: Notorious Criminal Killed in Meerut Police Encounter”

    Sonu Matka: Notorious Criminal Killed in Meerut Police Encounter”

    Sonu Matka, a well-known criminal connected to the dangerous Hashim Baba Gang, was shot and killed by the police during an operation in Meerut on Friday. Matka, who was wanted for a double murder case in Delhi and had a reward of ₹50,000 for his capture, had been hiding from the authorities for several months.

    The police operation involved special teams from both the Special Task Force (STF) and the Delhi Police Special Cell. They exchanged gunfire with Matka, who was injured and later died in the hospital.

    Matka had a long list of serious crimes against him, including robberies and murders in Delhi and Uttar Pradesh. He was a shooter for the Hashim Baba Gang and had been involved in around six criminal cases.

    On September 24, police questioned gangster Hashim Baba about the murder of a gym owner named Nadir Shah. Hashim Baba was taken from Tihar Jail for questioning and is thought to have planned this murder even while in prison. Despite a crackdown on gangsters using phones from jail, they continued to plot crimes.

    Hashim Baba, known for his connections to another gangster named Lawrence Bishnoi, is also being investigated for a threatening video call to a wealthy businessman in Delhi. The police have used tough laws against Hashim Baba and eight other gang members due to their ongoing criminal activities. Hashim Baba has been in Tihar Jail since 2020, facing multiple charges, including conspiracy to commit murder, extortion, and weapons violations.