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Arvind’s Newsletter
Issue No. #1172
1.Union Cabinet approves India’s 2030 CWG’s bid, says Ahmedabad is ideal location: Business Standard
The union cabinet, headed by Prime Minister Narendra Modi, on Wednesday approved India's bid to host the 2030 Commonwealth Games, naming Ahmedabad as the "ideal" venue because of its "world class stadiums, cutting-edge training facilities, and a passionate sporting culture".
The decision comes days after the Indian Olympic Association (IOA) gave its nod to the proposal after a submission of the 'Expression of Interest' in March.
2.India’s Russian oil gains wiped out by Trump’s tariffs: Reuters
India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight.
Analysts estimate India has saved at least $17 billion by increasing oil imports from Russia since early 2022. U.S. President Donald Trump's decision to impose additional tariffs of up to 50% on Indian imports could slash exports by more than 40%, or nearly $37 billion, this April-March fiscal year alone, according to New Delhi think-tank Global Trade Research Initiative (GTRI).
3.UIDAI CEO urges states, UTs to update Aadhaar biometrics of school children: Business Standard
UIDAI CEO has asked states and union territories to ensure schools complete the mandatory Aadhaar biometric update for children aged five and fifteen to avoid service disruptions
4.TPG beats Advent to emerge frontrunner for Tessolve stake; to invest $140–150 million: Economic Times
TPG Inc has emerged as the frontrunner to buy a significant minority stake in Tessolve, the semiconductor design and engineering company majority owned by Hero Electronix, people familiar with the matter told ET.
TPG's growth fund has signed an exclusivity pact with Tessolve for starting final deal negotiations, beating a bid from rival PE group Advent International, valuing the Bengaluru-headquartered firm at $475 million-500 million (₹4,158-4,377 crore). TPG has proposed to invest $140-150 million (₹1,225-1,313 crore) in Tessolve, as part of the deal.
5.A Teen Was Suicidal. ChatGPT Was the Friend He Confided In. - The New York Times
Two grieving parents have filed the first known wrongful death case against OpenAI, the maker of ChatGPT.
Their 16-year-old son initially used ChatGPT for help with schoolwork. But over time he confided in it more, and he eventually told it that he was thinking of ending his own life. They discussed suicide extensively. When he asked for advice on nooses, the bot furnished suggestions. He later hanged himself.
“This tragedy was not a glitch or an unforeseen edge case — it was the predictable result of deliberate design choices,” the lawsuit says.
The suit may serve as a test case for an area of the law that does not yet have much precedent: When a machine with some capacity for decision-making has a role in a person’s death, who bears the responsibility.
6.US Firms Said to Eye Pakistan Oil After Trump’s Reserves Claim: Bloomberg
America’s most senior envoy in Pakistan said that US companies are showing “strong interest” in the South Asian nation’s oil and gas sector. Pakistan’s Petroleum Minister Ali Pervaiz Malik met with US Charge d’Affaires Natalie A. Baker last week in Islamabad on strengthening cooperation in the energy sector, according to the ministry. Malik said talks with American companies on a round of bids for exploration blocks were already underway.
7.Israel’s Gaza campaign is making it a pariah: Tom Friedman in New York Times
“I will leave it to historians to debate whether Israel is committing genocide in Gaza. But what is absolutely clear to me right now is that this Israeli government is committing suicide, homicide and fratricide.
It is destroying Israel’s standing in the world, it is killing Gazan civilians with seemingly no regard for innocent human life, and it is tearing apart Israeli society and world Jewry, between those Jews who want to still stand with Israel no matter what and those who can no longer tolerate, explain or justify where this Israeli government is taking the Jewish state and now want to distance themselves from it.
I was struck by this paragraph in The Times’s story from Israel on Monday about the Israeli strikes on a hospital in southern Gaza, killing at least 20 people, according to the Gaza Health Ministry — including five journalists who worked for international media outlets, plus medics and several others: “The Israeli military said it had carried out a strike in the area of Nasser Hospital, without saying what the target was. The statement said the military regretted ‘any harm to uninvolved individuals,’ adding that its chief of staff had ordered an immediate inquiry.”
Obviously sensing that many around the world were appalled by this explanation — I mean, how many times have we heard this? — the office of the Israeli prime minister, Benjamin Netanyahu, issued a rare statement of contrition, saying that “Israel deeply regrets the tragic mishap.” Read on.
8.Primates with longer thumbs tend to have bigger brains, research finds: The Guardian
Primate study reveals correlation between longer thumbs and larger brains, suggesting increased cognition evolved with improved manual dexterity.
Researchers say the results suggest the brain co-evolved with manual dexterity in such mammals.
“We imagine an evolutionary scenario in which a primate or human has become more intelligent, and with that comes the ability to think about action planning, think about what you are doing with your hands, and realise that actually you are more efficient at doing it one way or another,” said Dr Joanna Baker, lead author of the research from the University of Reading.
“And those that have longer thumbs or more ability to manipulate the objects in the way that the mind can see were likely to be more successful.”
9.A $1 trillion stock rally in China is sparking concerns over growing risks to investors, prompting some brokerages and fund managers to cut back on financing and limit purchases: Bloomberg
Shanghai-based Sinolink Securities Co. raised its margin deposit ratio on new client financing contracts for some securities to 100%. Flush liquidity has driven Chinese equities to multi-year highs, with signs that domestic hedge funds have been rushing in.