Category: News

  • Sri Lanka’s Historic Election: AKD Becomes First Third-Party President

    Sri Lanka’s Historic Election: AKD Becomes First Third-Party President

    In 2024, many countries held elections, and one exciting event was in Sri Lanka when Anura Kumara Dissanayake, known as AKD, became President. This was special because it was the first time a candidate from a third party won the presidency in Sri Lanka’s history.

    During a podcast about Indian politics, expert Neil DeVotta explained how AKD’s victory could affect both Sri Lanka and India. Although AKD comes from a party with a troubled past, he has apologized for it and is working to connect with Sri Lanka’s minority groups, which include Tamils and Muslims. However, the majority of these communities did not support him in the election, so he faces a challenge: he must support minorities without upsetting the Sinhalese Buddhist majority, who make up a large part of Sri Lanka’s population.

    DeVotta mentioned that many believe AKD’s win helps China and not India, but this is not exactly true. AKD’s party has historically been against India, but he recently promised not to harm India’s interests and to remain neutral in global matters. He aims for a balanced relationship with both China and India, hoping to attract investments from both countries that will genuinely help Sri Lanka grow and create jobs. Unlike past leaders, AKD wants to make sure these investments are right for the country and won’t result in wasteful projects

  • Ajax Engineering IPO Overview: Market Debut and Innovations

    Ajax Engineering IPO Overview: Market Debut and Innovations

    Ajax Engineering shares are showing some uncertainty before the company’s stock market debut later today. The expected price change (GMP) is Rs 0, which suggests that the shares might not go up much, or could even drop. The company has set the price for its initial public offering (IPO) at Rs 629 for each share at the highest price level.

    The IPO attracted a lot of attention and was subscribed 6 times over. Institutional investors (like big companies) showed even more interest, subscribing 13 times. Since this IPO is just an offer for sale (OFS), the company itself won’t receive any money from it. The price was set based on a price-to-earnings (P/E) ratio of 32.1 times expected earnings for FY24, which is lower compared to similar companies.

    Ajax Engineering is well-known for making concrete equipment, providing a wide variety of tools and services for concrete construction. They have over 141 different types of concrete equipment that meet various needs. In the last ten years, they have sold more than 29,800 equipment units in India.

    Their concrete machines are used in many areas like transportation, irrigation, and building projects. Besides their specialized equipment, they also offer a large range of other equipment.

    One of their big innovations is a special concrete machine with load cell technology that ensures top quality. This has been approved by the government and is used by many public sector departments. In 2019, they launched a unique self-propelled boom pump that can move easily and place concrete at different heights.

    Ajax Engineering sells its products through a network of dealers in India and around the world. Their customers include individual contractors, small to mid-sized companies, rental businesses, large construction firms, and government agencies.

  • 4.0 Magnitude Earthquake Rocks Delhi: What You Need to Know

    4.0 Magnitude Earthquake Rocks Delhi: What You Need to Know

    Early Monday morning, many people in Delhi and nearby areas felt strong earthquake tremors. Prime Minister Narendra Modi responded to the situation, asking everyone to “stay calm” and be ready for possible aftershocks. He assured that officials are keeping a close watch on what is happening.

    According to the National Center for Seismology, the earthquake had a magnitude of 4.0 and hit New Delhi at 5:36 am. The quake was shallow, happening just 5 kilometers below the surface. It was centered near Durgabai Deshmukh College in Dhaula Kuan, an area that has felt smaller quakes in the past. In 2015, a 3.3-magnitude quake happened nearby.

    When the earthquake struck, many heard a loud noise along with the shaking. The Delhi Police, through a message on X, reassured residents to stay safe. They also encouraged anyone needing urgent help to call the emergency number 112.

    The strong shakes led many people, especially those in tall buildings across Delhi, Noida, Greater Noida, and Ghaziabad, to rush outside. Footage showed worried residents gathering outside their homes and watching for aftershocks.

    Delhi is located about 250 kilometers from the active Himalayan area, which often causes tremors. The city has felt other minor earthquakes in recent years, including one on April 12, 2020, and another on May 10, 2020.

    As for safety, Delhi is in Seismic Zone IV, which means it can experience moderate to strong earthquakes from the Himalayas.

  • DOGE Website Hack: Secrets Leaked and Costs Soar

    DOGE Website Hack: Secrets Leaked and Costs Soar

    The new DOGE website, created under Elon Musk’s leadership, has already been hacked shortly after its launch. The site was meant to help keep track of government spending and make things easier, but instead, it has raised a lot of worries about its safety and how rushed its creation was.

    Website Hacked Just Days After Launch

    The DOGE website went online on a Wednesday, but hackers got into it just days later. They left funny messages like “THESE ‘EXPERTS’ LEFT THEIR DATABASE OPEN – roro” and “This is a joke of a .gov site.” People who check cybersecurity found that the site looked like it was made too quickly and showed many problems. Some even think it might not be hosted on safe government servers, which is concerning.

    Leak of Secret Information

    Things got worse when it was found out that the DOGE website might have shared secret information. The site has a tool to help users see how the government spends money. However, a report revealed that it included info about the National Reconnaissance Office (NRO), a super secret agency that manages U.S. intelligence satellites. This mistake has made federal workers very worried about whether sensitive info was leaked.

    The NRO, which works with Musk’s SpaceX on satellite projects worth $1.8 billion, did not comment on the issue and told others to ask DOGE about it. So far, the White House hasn’t said anything about the hack.

    Growing Expenses Despite Cost-Cutting Goals

    DOGE was supposed to save money, but its costs have double just after a few days. Records show that its spending jumped from $6.75 million in late January to $14.4 million by February 8. The department says this increased spending is because they expect money back from other agencies that are helping with a project to modernize software. However, critics say that this quick rise in costs goes against DOGE’s goal to be efficient

  • Kashmir Leaders Clash Over Alcohol Ban: Tourism vs. Tradition

    Kashmir Leaders Clash Over Alcohol Ban: Tourism vs. Tradition

    Tanvir Sadiq, an MLA from the Jammu and Kashmir National Conference, found himself in hot water after he said we should think about how banning liquor would affect tourism in the region. Mirwaiz Umar Farooq, an important religious leader in Kashmir, quickly responded, saying that Jammu and Kashmir is mainly a Muslim area and shouldn’t promote selling alcohol.

    Mirwaiz explained that many other states in India have banned liquor and are doing fine. Instead of focusing on making money from alcohol, he believes the government should set a good example.

    “It’s sad that Tanvir thinks we should allow liquor because of tourism. We should be careful about our traditions and values,” Mirwaiz said, highlighting the problems alcohol can cause in society. He mentioned, “Last year, we saw people drinking in boats and auto-rickshaws. Our society is facing many issues already.”

    After hearing Mirwaiz’s comments, Sadiq went to X (formerly Twitter) to clarify that he opposes alcohol. He called it a “plague” and stressed that everyone should be included in decisions about liquor bans. He also pointed out that liquor is allowed in some Arab countries known for tourism.

    The controversy started when another National Conference leader, Ashan Pardesi, said he wants to close liquor shops in Kashmir for religious and cultural reasons. Former Srinagar mayor Junaid Mattu criticized the National Conference, saying they seem to change their story when elections are over.

    In support of the alcohol ban, People’s Democratic Party leader Mehbooba Mufti praised an MLA for pushing a bill against alcohol, saying that more effort is needed from political leaders and the community to fight addiction.

    The Awami Ittihad Party joined the call for a full ban on alcohol, emphasizing that alcohol has no place in a spiritually rich place like Kashmir, which is often seen as a land of saints.

  • Israel and U.S. Team Up to Confront Iran’s Nuclear Threat

    Israel and U.S. Team Up to Confront Iran’s Nuclear Threat

    Israeli Prime Minister Benjamin Netanyahu met with U.S. Secretary of State Marco Rubio in Jerusalem to discuss how to stop Iran’s nuclear plans and its actions in the Middle East. Netanyahu emphasized that Israel and the U.S. are united against the threat posed by Iran. He stated, “The ayatollahs must not have nuclear weapons,” and highlighted the need to push back against Iran’s aggression in the region.

    Rubio pointed out that Iran is behind many terrorist groups and acts of violence in the Middle East, which affect the safety of millions. Netanyahu mentioned that over the past 16 months, Israel has weakened Iran’s influence and dealt serious blows to its forces in the ongoing conflict with Hamas, which is based in Gaza. He assured that Israel won’t allow other countries to use Syria to attack them.

    Netanyahu thanked Rubio for supporting Israel’s actions in Gaza and noted that both he and former U.S. President Donald Trump are working closely together on these issues. Rubio stressed that Hamas should not continue to act as a military or governing force, saying that peace will be impossible as long as they remain powerful.

  • Elon Musk’s Ties to the Pentagon Spark Financial Concerns

    Elon Musk’s Ties to the Pentagon Spark Financial Concerns

    Elon Musk, the CEO of companies like SpaceX and Tesla, is getting closer to the U.S. Defense Department. This raises some big questions about money management and fairness. Musk’s businesses have important contracts with the Pentagon, which leads to worries about how well the government tracks its spending on the military.

    The Pentagon’s Financial Problems

    The Pentagon has a huge budget of $850 billion but has never passed a full audit. This means they haven’t been able to prove they’re spending money correctly. The Defense Secretary, Pete Hegseth, says he wants to solve this in four years, but it’s a tough job. Many parts of the Pentagon can’t account for their expenses.

    According to a report by the Government Accountability Office (GAO), weak financial controls make it hard to keep track of money spent by the military, leading to worries about possible fraud or waste. Taxpayers want to know where their money is going.

    Musk’s Contracts and Conflicts of Interest

    Musk’s increasing role with the Pentagon has people worried about potential conflicts of interest. While he tries to lower costs, his deep connections to government contracts make his influence questionable. For example, SpaceX got a $150 million deal to create launchers for a military program, and Starlink has received funds to help provide internet services to Ukraine. Many of Musk’s contracts with the Pentagon are secret, making it hard to know how much money he truly makes from them.

    Recently, there was concern when Tesla’s name was quietly taken off a $400 million military contract after people noticed. Some experts warn that Musk’s close ties with the defense sector could lead to unfair advantages when it comes to contracts.

    High Prices and Overspending by Contractors

    Another issue Musk faces is the Pentagon’s history of contractors charging too much. Over the years, investigations have found that companies have wasted billions of dollars by overpricing supplies. Examples include paying $149,000 for soap dispensers and $14,000 for toilet seats.

    Experts say multiple layers of contracts make it hard to see where the money really goes. “With every layer, it gets harder to tell if money is used wisely,” said economist Heidi Peltier.

    The Pentagon’s Urgent Need for Financial Reform

    With hints of possible budget cuts, Hegseth is under pressure to fix the Pentagon’s money management systems. The Pentagon is investing in changes and aims to pass an audit by 2028.

  • The Truth About Tariffs: A 100-Year History Explained Simply

    The Truth About Tariffs: A 100-Year History Explained Simply

    Have you ever thought that the idea of using tariffs to protect local businesses was something new that President Trump invented? Well, it’s not! The practice goes back a long way. In 1904, Canada was the first to create a special law to stop unfair trade practices called anti-dumping laws. Then, in 1921, countries like the UK and the US started using anti-dumping duties, which are a type of tariff. This means they added extra taxes on imports to help local companies compete. So, it’s clear that using tariffs to protect domestic industries has been around for a while!

    Now, let’s connect this to today’s markets: always remember that with taking risks, there’s a chance for reward. Just keep that in mind as you think about investments!

  • Capybara Costume Catches Drug Traffickers: A Valentine’s Day Surprise

    Capybara Costume Catches Drug Traffickers: A Valentine’s Day Surprise

    On Valentine’s Day, a police officer in Peru surprised a drug dealer by wearing a funny capybara costume during a drug raid. This special operation was led by Peru’s Escuadron Verde, a team known for their unusual methods. They managed to seize over 1,700 packages of cocaine and marijuana.

    Col. Pedro Rojas, the unit leader, explained that they chose to wear the capybara costume to celebrate Valentine’s Day, also known as “lover’s day.” This police team has a history of dressing up as superheroes like Spider-Man, Captain America, and Thor during similar operations, especially on festive days like Halloween and Christmas.

    As the video of this unique arrest spread on social media, many people found it hilarious and joked about how strange it was for a drug dealer to be caught by a giant rodent. Last Halloween, the same police unit dressed up as Deadpool and Wolverine, successfully seizing large amounts of drugs too.

    Peru is one of the top producers of coca leaf and cocaine in the world. Their strategy? If they can’t stop drugs in a typical way, they’ll at least make the arrests entertaining. Online users praised the capybara officer, saying things like, “I bet the drug trafficker lost all his respect after getting caught by a CAPYBARA

  • Israel and U.S. Collaborate to Stop Iran’s Nuclear Threats

    Israel and U.S. Collaborate to Stop Iran’s Nuclear Threats

    In a meeting in Jerusalem, Israeli Prime Minister Benjamin Netanyahu and U.S. Secretary of State Marco Rubio talked about their strong determination to stop Iran’s nuclear plans and its aggressive actions in the Middle East. Netanyahu described their discussion as very productive, stating, “Israel and America stand shoulder to shoulder in countering the threat of Iran.”

    Rubio added, “Every terrorist group and act of violence in this region can be traced back to Iran.” Netanyahu explained that Israel has made significant progress against Iran over the last 16 months during the ongoing war in Gaza against Hamas. With support from President Donald Trump, he believes they can finish the job.

    Israel has reduced the power of Hezbollah in Lebanon and has targeted many places in Syria to prevent new threats to Israel. Netanyahu warned that any group thinking they can use Syria against Israel is very mistaken.

    He thanked Rubio for America’s strong support in Gaza, where there is currently a fragile ceasefire after 15 months of fighting. Netanyahu assured everyone listening that he and President Trump are working closely together. Rubio pointed out that Hamas must be dismantled to achieve lasting peace, saying, “As long as Hamas remains a military force, peace will be impossible.