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• 2 September 2023
• by admin

NEW DELHI: Uday Kotak announced on Saturday that he has stepped down as the managing-director and CEO of Kotak Mahindra Bank effective September 1. He will continue to serve as a non-executive director.

As an interim arrangement, Dipak Gupta, the joint managing director, will carry out the duties of the MD and CEO until December 31, 2023.
Uday Kotak’s tenure as the chief executive officer and managing director of the bank was to end on December 31, 2023.
‘Keen to ensure smooth transition’
In a post on social media, Kotak said: “Succession at Kotak Mahindra Bank has been foremost on my mind, since our chairman, myself and the Joint MD are all required to step down by year end. I am keen to ensure smooth transition by sequencing these departures. I initiate this process now and step down voluntarily as CEO.”
“In the interim, my dear colleague Dipak Gupta – currently Joint MD, will function as MD & CEO, subject to approvals,” he added.
“As Founder, I am deeply attached to brand Kotak and will continue to serve the institution as a Non-Executive Director and significant shareholder,” Kotak said.
“A long time ago, I saw names like JP Morgan and Goldman Sachs dominate the financial world and dreamed of creating such an institution in India. It is with this dream that I started Kotak Mahindra 38 years ago, with three employees in a 300 sqft office in Fort, Mumbai. I have deeply cherished every bit of this memorable journey, living my dream. We are now a pre-eminent bank and financial institution, created on the basic tenets of trust and transparency. We have created value for our stakeholders and provide over 1 lakh direct jobs. An investment of ₹10,000 with us in 1985 would be worth around ₹300 crore today. I am confident that this Indian owned institution will continue to play an even more important role in India’s transformation into a social and economic powerhouse,” he added.
In February this year, Bloomberg had reported that the bank’s board had engaged a consulting firm to lead a global search for a CEO to replace Kotak.

• 1 September 2023
• by admin

CNN
—

Tennis great Martina Navratilova says her “prognosis is excellent” having been diagnosed with throat and breast cancer.

In an interview with Piers Morgan Uncensored on TalkTV, Navratilova said: “I mean, as far as they know I’m cancer-free … I definitely won’t be missing any of my check-ups. I will be very, very diligent about it, but the prognosis is excellent. But you never know.”

The 66-year-old Navratilova, who won 59 grand slam singles and doubles titles over the course of her illustrious career, discovered an enlarged lymph node in her neck during the WTA Finals in Fort Worth, Texas last year.

After a biopsy, she was later diagnosed with stage one throat cancer, her agent Mary Greenham told CNN in January. While undergoing throat tests, a suspicious form was found in Navratilova’s breast, which later was diagnosed as cancer, Greenham said.

“It was again very up and down, right?” Navratilova said in the TalkTV interview airing Tuesday.

“So, I find out it’s throat cancer, I think I could be dying but I find out no, it’s very treatable. Then they found the right breast and when I had the biopsy on the right breast, the doctor was saying: ‘This doesn’t look great.’

“And when she said that I’m like: ‘Oh great, I have another cancer?’ And that’s when I started crying on the table as she’s still poking in there getting samples out of my boob and I’m like: ‘Oh great, I have two cancers at the same time that are not related.’”

Navratilova, who was previously diagnosed with breast cancer in 2010, spoke of her determination after receiving her double diagnosis.

“What was the alternative? Giving up? Giving in? Stopping?” she said. “That’s just not an option for me … quitting is just not in my DNA.”

Since retiring from tennis, Navratilova has worked as a coach, broadcaster and ambassador for the WTA Tour. She still holds the WTA record of 167 singles titles, 10 more than her long-time friend and rival Chris Evert, who said in January she is “cancer-free” having been diagnosed with stage 1 ovarian cancer.

After Greenham put out a request for friends to send a message and song to Navratilova, Evert sent Bill Withers’ “Lean On Me.”

“I couldn’t even read that stuff,” said Navratilova. “When Mary first sent it to me, I just started crying … I started reading it and I’m like: I cannot listen to the music because I’ll definitely be bawling my eyes out.

“One day at a time, I read a little bit from what everybody wrote because it was so moving.”

• 1 September 2023
• by admin

American and Indonesian soldiers have held the live-fire Super Garuda Shield drills since 2009, and Australia, Japan and Singapore joined last year. The United Kingdom and French forces are participating in this year’s exercises, with a total of about 5,000 personnel.

China sees the expanded drills as a threat, accusing the US of building an Indo-Pacific alliance similar to NATO to limit China’s growing military and diplomatic influence in the region. Brunei, Brazil, Canada, Germany, India, Malaysia, Netherlands, New Zealand, Papua New Guinea, Philippines, South Korea, and East Timor also sent observers to the two-week exercises in Baluran, a coastal town in East Java province.

The commanding general of US Army Pacific, Gen. Charles Flynn, said the 19 nations involved in the training are a powerful demonstration of multilateral solidarity to safeguard a free and open Indo-Pacific region.

“Super Garuda Shield 2023 builds on last year’s tremendous success,” Flynn said in a statement released by the US Embassy in Jakarta on Tuesday, “This joint, multinational training exercise displays our collective commitment and like-minded unity, allowing for a stable, secure, and more peaceful, free and open Indo-Pacific.”

The statement said at least 2,100 US and 1,900 Indonesian forces will enhance their interoperability capabilities through training and cultural exchanges that include a command and control simulation, an amphibious exercise, airborne operations, an airfield seizure exercise, and a combined joint field training that culminates with a live-fire event.

Garuda Shield is being held in several places, including in waters around Natuna at the southern portion of the South China Sea, a fault line in the rivalry between the US and China.

Indonesia and China enjoy generally positive ties, but Jakarta has expressed concern about what it sees as Chinese encroachment in its exclusive economic zone in the South China Sea.

The edge of the exclusive economic zone overlaps with Beijing’s unilaterally declared “nine-dash line” demarking its claims in the South China Sea.

Increased activities by Chinese coast guard vessels and fishing boats in the area have unnerved Jakarta, prompting Indonesia’s navy to conduct a large drill in July 2020 in waters around Natuna.

Indonesian Foreign Minister Retno Marsudi commented Thursday on China’s newly published “Standard Map,” which shows its territorial claims in the South China Sea crossing over the maritime exclusive economic zones of Malaysia near Sabah and Sarawak, and several other countries such as Brunei, the Philippines, Indonesia, and Vietnam.

She urged China to respect international law, saying the “drawing of any (territorial) lines or any claims must be in accordance” with the United Nations Convention on the Law of the Sea.

Chinese Foreign Ministry spokesperson Wang Wenbin on Wednesday called on other countries to refrain from “over-interpreting” the map. Malaysia’s Foreign Ministry on Wednesday rejected China’s “unilateral claims” and said the map is “not binding” for Malaysia.

India lodged a formal objection on Tuesday over the map, which shows Arunachal Pradesh and the Doklam Plateau, over which the two sides have feuded, as being within China’s borders.

The Philippines on Thursday said the map was China’s latest attempt to claim sovereignty over Philippine features and maritime zones and said it has no basis under international law.

Vietnam also protested that the map and the “nine-dash line” claims violate Vietnam’s sovereignty over the Paracel and Spratly islands and jurisdiction over its waters and must be void because they violate international law, particularly UNCLOS.

• 31 August 2023
• by admin

Idalia floods parts of South Carolina after leaving a trail of destruction in Florida. A U.S. health agency recommends changes to marijuana restrictions. And three “canceled” YouTube stars are making comebacks.

Here’s what to know today.

Idalia is headed offshore after battering Florida’s Gulf Coast

Before Idalia moves offshore today, as the National Hurricane Center predicts, it will have destroyed homes and businesses in Florida and inundated parts of Charleston, South Carolina.

A day after the storm made landfall, Florida officials and residents are assessing the damage. Wind blew out store windows, tore siding off buildings and unmoored small boats in communities near the Gulf Coast but didn’t do as much damage as last year’s Hurricane Ian. At least one death yesterday was blamed on the weather, officials said.

This is Morning Rundown, a weekday newsletter to start your morning. Sign up here to get it in your inbox.

By Wednesday afternoon, Idalia was downgraded to a tropical storm and produced “very heavy rain” around Charleston, South Carolina. Some flooding was reported in downtown Charleston and thousands were left without power late last night.

Follow our live blogfor the latest updates on Idalia.

More storm coverage:

Feds consider easing marijuana restrictions

The Drug Enforcement Administration will consider whether to reclassify marijuana after the Department of Health and Human Services formally recommended that the DEA ease government restrictions on the drug. HHS’s recommendation comes nearly a year after President Joe Biden ordered a review of marijuana, which remains illegal at the federal level even though 40 states allow its use in some form. Currently, marijuana is considered a Schedule I drug, the same category as drugs like heroin and LSD, which are considered to have a high potential for abuse.

Advocates for marijuana’s legalization see the recommendation as a historic first step, and the industrycould save hundreds of millions of dollarswith a new classification.

Friends remember UNC professor killed in shooting

Zijie Yan taught applied physical sciences at the University of North Carolina-Chapel Hill. But beyond that, he was a father who “loved to be with his daughters,” had a positive attitude and loved to cook, according to friends and former colleagues. The associate professor was fatally shot earlier this week by a suspect who headed directly to Yan and immediately left after shooting him, UNC’s police chief said.

While Yan excelled in his work, former colleagues said he was never competitive or political.“There’s no reason why it makes sense for it to be him,”one person said.

For more from NBC Asian America,sign up for our weekly newsletter.

Texas parents fight whirlwind school changes

Within months of the Texas Education Agency’s takeover of the Houston Independent School District, a state-appointed superintendent instituted a plan that includes more rigorous instruction and converting many school libraries into discipline areas, where students with behavioral issues can attend classes virtually, among other things.

Now, many concerned parents and advocates are speaking out against superintendent Mike Miles’ New Education System. While Miles told NBC Nightly News that opponents’ frustrations are “understandable,” librarians and educators whose jobs were affected, as well as parents nervous about the new school year,aren’t convinced these changes will translate to success.

Today’s Talker: Sen. Mitch McConnell appeared to freeze…

… for more than 30 seconds during an event in Kentucky, a month after a similar incident during which the 81-year-old stopped speaking. Yesterday’s freeze happened when McConnell was asked if he would run for re-election. When it became apparent he had frozen, an aide came up to him and asked, “Did you hear the question, senator?”McConnell still didn’t answer.Afterward, an aide reported McConnell “feels fine” but said he would consult a doctor before his next event.

Politics in Brief

 Proud Boys sentencing:Joe Biggs, a Proud Boys leader and former InfoWars correspondent,is expected to be sentenced todayfor his role as an “instigator and leader” during the Jan. 6 attack on the Capitol.

Trump net worth:Donald Trumproutinely overstated his personal net worthto financial institutions, by as much as $2.2 billion one year, New York Attorney General Letitia James’ office alleged in a new filing in the civil lawsuit against Trump, some of his children and the Trump Organization.

2020 election:A federal judge ruled Rudy Giulianidefamed two former Georgia election workersand is liable for damages in their lawsuit over his baseless claims that they committed fraud during the last presidential election.

Congress:Rep. James Comer of Kentucky has earned the wrath of Democrats who once praised him as a pragmatic “centrist.” But Comer, who has emerged as the face of the probe into Hunter Biden and President Joe Biden,insists he’s still “bipartisan.”

Staff Pick: YouTube’s ‘canceled’ stars are making comebacks

YouTube stars like James Charles, Tana Mongeau and Jeffree Star found internet fame before they faced multiple cycles of widespread backlash. But their so-called cancellations actually became a launchpad to a fresh start. Reporter Kat Tenbarge exploreswhat the three are up to nowand how it seems some popular creators can now shrug off what once seemed like career-ending controversies. — Elizabeth Robinson,newsletter editor

In Case You Missed It

• A Florida mom is among two people charged in an alleged murder plot after shetried to hire a hitmanto kill her 3-year-old son using a parody website called rentahitman.com.
• A new study shows that some marijuana usersmay have elevated levels of leadand cadmium — two heavy metals linked to long-term health issues — in their blood and urine.
• Commerce Secretary Gina Raimondo’s China trip was the fourth by senior U.S. officials in three months, part of a Washington charm offensive to get relations between the countries back on track.
• Five sunken World War I-era shipswere found in a southeast Texas river this month as ongoing drought conditions push water levels to new lows.
• “Real Housewives” star Erika Jaynehas been sued for over $18 millionin a lawsuit alleging she conspired with American Express and the Secret Service to have her former costume designer falsely charged with credit card fraud.

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When you’re planning a relaxing day outside, a good blanket can help protect you from itchy grass, dirt or dampness on the ground. Here areseven top-rated outdoor blanketsperfect for picnicking, watching a sporting event or hanging out as your kids play at a park.

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Thanks for reading today’s Morning Rundown. Today’s newsletter was curated for you by Elizabeth Robinson. If you’re a fan, please send a link to your family and friends. They can sign-up here.

• 30 August 2023
• by admin

The Federal Trade Commission recently revealed the most reported text message scam: bank impersonations.

Reports of bank impersonations by text in 2022 jumped to 20 times the number reported in 2019. According to the FTC, consumers reported a loss of more than $330 million to text message scams in 2022. And cash that’s lost because of bank fraud or scams isn’t covered by the Federal Deposit Insurance Corp. or National Credit Union Administration.

Banks are a safe place to keep your money, but there are still a few basic but important precautions you can take to ensure you don’t fall for a bank-impersonation text scam. Here’s how to protect your money from text message scams impersonating your financial institution.

Don’t make money moves under pressure

Text message scammers will try to make you feel like action is required immediately — at the risk of losing your money. It may come as an urgent message warning you to call or click on a link because of alleged suspicious activity.

“Any type of pressure tactic is not legitimate — that is not your bank,” says Paul Benda, senior vice president of operational risk and cybersecurity at the American Bankers Association. As with any decision about your finances, avoid taking actions when you feel scared, stressed out or pressured.

Don’t click on any links from an unsolicited text message

If you receive a text message you’re not expecting, be wary — especially if it looks like it might be from your bank.

In a recent poll by security experts at Security.org, 66% of respondents said that they had received a suspicious text from someone they didn’t know, and about 20% clicked on links texted from strangers, which is never advisable. “Look at any type of unsolicited communication very cautiously,” says Benda.

Major banks were popular choices for scammers to impersonate in 2022. According to the FTC, the most common scam text messages often claimed to be from large banks, including Bank of America, Wells Fargo, Chase and Citibank.

Don’t call a phone number that’s texted to you

Just as you shouldn’t click on a link texted to you from someone you don’t know, don’t click on or dial a phone number you receive in a text. Instead, find the official phone number for your bank by going to its website or mobile app. Initiate contact with your financial institution at its official phone number to ensure you’re talking to a legitimate representative, and verify whether there actually is an issue.

“Making that phone call can be the difference between getting scammed versus not getting scammed,” says Tremaine Wills, a financial advisor and founder of Mind Over Money, a financial literacy company in Newport News, Virginia.

One particular kind of text scam resulted in a median loss of $3,000 in 2022, according to the FTC: a text from someone impersonating your bank, instructing you to reply with a “Yes” or “No” to confirm or deny a suspicious transaction. Once you replied, the scammer would call you under the guise of helping you. Their ultimate goal was to either fraudulently transfer money out of your account or obtain personal information such as a Social Security number.

What to do if you have been scammed by text message

If you should happen to fall for a text scammer impersonating your bank, there are a few critical steps to take.

First, alert your bank to the incident and get its help in making sure no more money leaves your account fraudulently. Next, report the scam to local law enforcement. Those first two actions are key for trying to recover any cash that was wrongfully taken from your account.

Finally, file a complaint with the FTC at ReportFraud.ftc.gov and/or report the instance to the Federal Bureau of Investigation’s Internet Crime Complaint Center. The FTC also recommends that you forward suspicious text messages to 7726, which helps wireless providers identify and intercept similar text messages. You can also report and block suspicious text messages within your messaging app.

Having a good idea of your account activity is a key part of protecting your money from scams.

“Have a regular practice of knowing what’s going on with your account,” says Wills. If you’re not completely sure of what’s happening in your account, then you might be more likely to be alarmed by a text message claiming to be from your bank, she says.

• 30 August 2023
• by admin

A person in Canada’s British Columbia, who had not been outside the province, has tested positive for the highly mutated BA.2.86 variant of the Omicron coronavirus, announced the country’s health officials on Tuesday.

The infected individual is not hospitalised, and according to a joint statement by the province’s top doctor, Bonnie Henry, and Health Minister Adrian Dix, the detection does not increase the risk for people in British Columbia.

Doctors pointed out that the appearance of BA.2.86 in Canada and the province was anticipated, as the global spread of COVID-19 continues and the virus adapts.

Originating in Denmark last month, the BA.2.86 lineage exhibits more than 35 mutations in critical parts of the virus, setting it apart from the previously dominant XBB.1.5 variant seen through much of 2023. Particularly, the United States, Switzerland, and Israel have also identified cases involving this new variant.

The US Centers for Disease Control and Prevention (CDC) reported recently that the BA.2.86 variant might have an increased ability to cause infection in those who had previous COVID-19 infections or received vaccinations.

While closely monitoring the BA.2.86 variant is crucial, scientists believe that its impact is unlikely to lead to a severe wave of illness and fatalities, given the global immunity built up from vaccinations and prior infections.

In recent weeks, Canadian health authorities have observed a rise in COVID-19 infections, even though the overall virus activity remains relatively low, according to a Health Canada update earlier today.

• 29 August 2023
• by admin

• 29 August 2023
• by admin

• 28 August 2023
• by admin

Libya’s prime ministerAbdul Hamid Dbeibeh Monday dismissed Najla Mangoush, the country’s foreign minister, to control the protests that erupted countrywide following her meeting with Israel’s foreign minister.

Mangoush had said her meeting with Israeli Foreign Minister Eli Cohen in Rome was unplanned and informal, but an Israeli official told Reuters it had lasted two hours and was approved “at the highest levels in Libya”.

The meeting is contentious because Libya does not formally recognise Israel and there is widespread public support across the Libyan political spectrum for the Palestinian cause. Palestinians seek to establish an independent state in territories Israel captured in the 1967 Middle East war.

The dispute over the meeting has fed into Libya’s internal political crisis, giving ammunition to Prime Minister Abdulhamid al-Dbeibah’s internal critics at a moment when the future of his interim government was already in question.

Protesters demonstrated in front of Libya’s Foreign Ministry late on Sunday, causing some damage outside the building, where a large security presence was visible early on Monday. Protests took place in other parts of Tripoli, as well as other cities.

Burning tyres blocked some major roads in Tripoli on Monday but there was no sign of violence.

Mangoush’s office tried to quell the anger late on Sunday, saying she had rejected a request for an official meeting with Cohen, but that they had met during an unplanned encounter while she was meeting Italian Foreign Minister Antonio Tajani.

The Israeli official disputed that account. “The meeting was coordinated at the highest levels in Libya and lasted almost two hours. The Libya prime minister sees Israel as a possible bridge to the West and the U.S. administration,” the official said.

Since 2020 Israel has normalised relations with the United Arab Emirates, Bahrain, Morocco and Sudan through the so-called “Abraham Accords” brokered by the United States, which sees further agreements as a key regional goal.

• 28 August 2023
• by admin

Technology

28 August 2023, 11:03 am 1 minute

Reuters was first to report U.S. Commerce Secretary Gina Raimondo discussed concerns about restrictions on chipmakers Intel and Micron with Chinese Commerce Minister Wang Wentao in Beijing on Monday. The pair also discussed China’s restrictions on gallium and germanium exports in the conversation. Shares of Micron rose 3% and Intel was up 1.4% in early trading on the news.

Market Impact

Shares of Micron rose 3% and Intel was up 1.4% in early trading on the news.