The potential for higher US corporate tax cuts may enhance IT spending, benefiting Indian IT companies
As Donald Trump returns as the next US President, India could actually bolster its position in global supply chains, particularly in technology sectors like AI and semiconductors, due to previous investments and policy shifts such as the “China+1” strategy, according to a report on Saturday.
The potential for higher US corporate tax cuts may enhance IT spending, benefiting Indian IT companies, according to the report by Motilal Oswal Private Wealth (MOPW).
“Indian businesses in sectors such as pharmaceuticals and defence might also find new opportunities, especially if US-India collaboration strengthens in response to a more robust Indo-Pacific defence strategy,” the report mentioned.
Trump’s second term is filled with both promises of economic growth and challenges of global trade tensions.
The strength of the US dollar and fiscal policies could significantly influence global markets, driving various strategic realignments. As policies unfold, countries and sectors must remain nimble to adapt to the evolving landscape fuelled by “Trump II.”
Prime Minister Narendra Modi and US President Donald Trump during a meeting on the sidelines of the UNGA74 at United Nations on Sep 24, 2019. (Photo: IANS/MEA)
According to the report, Trump’s ‘America First’ policy could reshape international trade. His approach involves reducing imports, particularly from China, to bolster US manufacturing.
Emerging markets face a mixed bag of challenges and opportunities.
Some countries could see increased costs for exports due to a stronger dollar and higher tariffs, particularly affecting IT and pharmaceutical sectors. Conversely, nations like Mexico may benefit by diverting manufacturing operations from China.
Geopolitically, Trump’s policies are likely to intensify tensions with China and could alter alliances, as countries like Japan and South Korea reassess their strategies.
According to the report, the EU may seek to become more self-reliant and potentially foster new alliances beyond the US sphere of influence.
Meanwhile, Trump’s protectionist trade policies and their impact on India need to be watched out for in the coming months, it noted.
Stephane Dujarric, Chief Spokesman for UN Secretary-General Antonio Guterres, lamented last year’s record was topped, “and it isn’t even December”.
This year has become the worst year on record for deaths of aid workers, with 281 deaths globally, the UN Office for the Coordination of Humanitarian Affairs (OCHA) said on Friday.
“Humanitarian workers are being killed at an unprecedented rate, their courage and humanity being met with bullets and bombs,” said Tom Fletcher, under-secretary-general for humanitarian affairs and emergency relief coordinator. “This violence is unconscionable and devastating to aid operations. States and parties to conflict must protect humanitarians, uphold international law, prosecute those responsible, and call time on this era of impunity.”
OCHA said record fatalities also were recorded in 2023, with 280 aid workers killed across 33 countries.
Stephane Dujarric, Chief Spokesman for UN Secretary-General Antonio Guterres, lamented last year’s record was topped, “and it isn’t even December”.
The humanitarian office said that the more than 320 humanitarian personnel killed since October 7, 2023, in Gaza, is driving up the number of global fatalities, Xinhua news agency reported.
Many were killed in the line of duty while providing humanitarian assistance, and most were staff members of the UN relief agency for Palestinian refugees, known as UNRWA.
OCHA said that most of the humanitarians killed around the world this year were local staff members working with non-governmental organizations, UN agencies and the Red Cross/Red Crescent movement.
High levels of violence, kidnappings, injuries, harassment, and arbitrary detention of aid workers have been reported in Afghanistan, the Democratic Republic of the Congo, South Sudan, Sudan, Ukraine and Yemen, among other countries.
The office said that violence against aid workers is part of a broader trend of increasing civilian casualties in conflict zones. Last year, more than 33,000 civilian deaths were recorded in 14 armed conflicts, a staggering 72 percent increase from 2022.
Despite the dangers, OCHA said relief organizations continue to deliver vital assistance, reaching nearly 144 million people in need last year. The organizations supported more than 116 million people worldwide.
The office reminded that the UN Security Council adopted in May Resolution 2730 in response to the growing violence and threats against humanitarian workers. The resolution mandates the UN secretary-general to recommend measures to prevent and respond to such incidents, enhance accountability, and improve protection for humanitarian personnel and assets.
While the MVA is left grappling with the ‘Maha stunner’, the number crunching yields another startling detail about MahaYuti’s performance, particularly the BJP.
The Bharatiya Janata Party (BJP)-led MahaYuti is headed for a thumping victory in the high-stakes Maharashtra Assembly elections while a pall of gloom prevails in the rival faction Maha Vikas Aghadi (MVA) comprising Congress, SS (UBT) and NCP-SP, as per trends till 12 noon.
While the MVA is left grappling with the ‘Maha stunner’, the number crunching yields another startling detail about MahaYuti’s performance, particularly the BJP.
The latest trends show that the BJP leading on 124 seats, Shiv Sena on 56 seats, and NCP on 37 seats, while Congress, SS (UBT) and NCP-SP were ahead on 19, 19 and 13 seats respectively.
The current trends show the BJP alone fetching more seats than the combined MVA’s strength. Its strike rate in the Assembly elections came as a shock for the opposition alliance as the latter mounted an aggressive campaign to counter MahaYuti’s poll promises. The cash-for-votes scandal on a day before polling also seems to have had no impact on election results.
As per available data, BJP’s strike rate stands at 84 per cent, with the party taking the lead in 122 seats out of 148 that it contested. Similarly, its allies Shiv Sena and NCP’s strike rates are too impressive to ignore. Eknath Shinde-led Shiv Sena has managed a strike rate of 71 per cent, taking the lead in 58 out of 81 seats it contested while Ajit Pawar-led NCP earned a strike rate of 62 per cent, managing the lead in 37 out of 59 constituencies that it fought.
On the other hand, MVA’s strike rate as well as leads in early trends has come as a major setback, so much so that SS (UBT) leader Sanjay Raut termed it “unacceptable” and pressed for a fresh election.
The Congress contested 110 seats and is leading on just 20 seats, indicating a strike rate of 19.2 per cent while Shiv Sena (UBT) and NCP-SP contested 92 and 86 seats respectively but are seen taking the lead on 18 and 10 seats respectively, thus garnering strike rates of 20.6 per cent and 11.6 per cent.
The outgoing Assembly had MahaYuti holding 186 seats amongst its three constituents.
Current trends suggest the alliance is poised to surpass its previous tally and even better its 2019 performance by a big margin.
In 2019, the BJP bagged 105 seats whereas the undivided Shiv Sena won 56 seats, taking the alliance’s total number of seats to 161.
I.N.D.I.A Soars in Jharkhand
Trends from all 81 Assembly seats in Jharkhand indicate that the INDIA Bloc is leading in 50 constituencies, while the NDA is ahead on 29 seats. Independents and others are leading in two constituencies.
As per the Election Commission’s data, Jharkhand Chief Minister Hemant Soren is leading by 2,812 votes in Barhait, while the BJP’s Munia Devi is ahead by 3,128 votes in Gandey and Kalpana Soren is trailing.
Former CM and state BJP chief Babulal Marandi is leading by 1,840 votes in Dhanwar.
In Dumka, the BJP’s Sunil Soren has a significant lead of 11,761 votes over the JMM’s Basant Soren.
Jharkhand Chief Minister and JMM President Hemant Soren addresses a public gathering at Santhal in Dumka district of Jharkhand. (Photo: IANS)
JMM’s Samir Mohanty is leading by 7,078 votes in Baharagora and the BJP’s Manoj Yadav is ahead by 3,106 votes in Barhi and Roshanlal Choudhary is leading by 3,081 votes in Barkagaon.
JMM’s Anant Pratap Dev is ahead by 3,539 votes in Bhawanathpur, and the Congress’ Shweta Singh leads by 7,906 votes in Bokaro.
JMM’s Deepak Birua, a state minister, has secured a massive lead of 11,248 votes in Chaibasa.
Former CM Arjun Munda’s wife, Meera Munda (BJP), is leading by 17,413 votes in Potka, while BJP’s CP Singh has a strong lead of 9,019 votes in Ranchi.
BJP’s Satyendra Nath Tiwari is ahead by 2,042 votes in Garhwa.
The AJSU Party is also making its presence felt, with Sunita Choudhary leading by 11,524 votes in Ramgarh.
RJD’s Rashmi Prakash is leading by 1,691 votes in Chatra, while RJD’s Suresh Paswan has taken a commanding lead of 13,220 votes in Deoghar, as per early trends.
The CPI-ML’s Arup Chatterjee is ahead by 4,843 votes in Nirsa. Independent candidate Devendra Singh is leading by 2,915 votes in Panki.
BJP’s Champai Soren is narrowly ahead by 856 votes in Saraikela, while the JMM’s Amit Kumar is leading by 3,998 votes in Silli and the AJSU’s Sudesh Mahto is trailing in the second round.
A party or alliance needs 41 seats to form the government in Jharkhand. In 2019, the JMM-Congress-RJD alliance secured 47 seats to form the government.
A total of 1,211 candidates contested this election, with voting held in two phases on November 13 and 20. Voter turnout was 67.74 per cent, with 5.5 lakh more women voters than men among the 1.76 crore electorate.
Valery Zaluzhny said Ukraine is no longer facing Russia alone, soldiers from North Korea and the Iranian ‘Shahedis’ are “killing civilians absolutely openly.
Ukraine’s former military Commander-in-Chief Valery Zaluzhny has said that World War 3 has begun, as the country is no longer facing Russia alone, soldiers from North Korea and the Iranian ‘Shahedis’ are “killing civilians absolutely openly,” Politico reported.
While speaking at Ukrainska Pravda’s UP100 award ceremony on Thursday, Zaluzhny said that the fact that Russia’s allies are directly involved in the Russia-Ukraine conflict means that the Third World War has begun, Politico reported.
“I believe that in 2024 we can absolutely believe that the Third World War has begun,” Zaluzhny, who is now Ukraine’s envoy to the United Kingdom, said, as per Politico.
“Because in 2024, Ukraine is no longer facing Russia. Soldiers from North Korea are standing in front of Ukraine. Let’s be honest. Already in Ukraine, the Iranian ‘Shahedis’ are killing civilians absolutely openly, without any shame,” Politico reported Zaluzhny as saying, and he added that North Korean and Chinese weapons are flying into Ukraine.
As per Politico’s report, Zalunzhny said Ukraine’s allies are capable of ending the war, and they must draw the correct conclusions.
(Photo: X@Zelenskyya)
“It is still possible to stop it here, on the territory of Ukraine. But for some reason our partners do not want to understand this. It is obvious that Ukraine already has too many enemies. Ukraine will survive with technology, but it is not clear whether it can win this battle alone,” he said.
Politico stated that the grim speech by Zaluzhny reflected his views on the Russia-Ukraine war. He made similar comments to a media publication last year, inviting the wrath of Ukrainian President Volodymyr Zelenskyy. In his comment, Zaluzhny compared the state of the conflict to a stalemate like World War I.
Zelenskyy later fired Zalunzhny in February after cracks developed between them on how to handle Ukraine’s counteroffensive. Politico reported that Zalunzhny’s mounting popularity was also seen as a threat to Zelenskyy’s political career.
Speculation was rife for over a week before Zelenskyy’s announcement on February 8, reflecting the strained relationship between him and Zaluzhny over months before the decision. Oleksandr Syrskyi was then appointed as the head of Ukraine’s armed forces, marking a significant shift in the country’s military leadership amid ongoing tensions with Russia. (ANI)
Bessent is the Founder and CEO of Key Square Group, a hedge fund, reports Yashwant Raj
President-elect Donald Trump has announced the name of Scott Bessent, a hedge fund investor, as his nominee for treasury secretary, one of the most important positions in his cabinet to deliver on his campaign promise of ushering in the golden age of the US.
“I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,” Trump said in an announcement on Friday.
“Scott has long been a strong advocate of the America First agenda. On the eve of our great country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the world’s leading economy, center of innovation and entrepreneurialism, destination for capital, while always, and without question, maintaining the US Dollar as the reserve currency of the world. Unlike in past administrations, we will ensure that no Americans will be left behind in the next and greatest economic boom, and Scott will lead that effort for me, and the great people of the United States of America,” said Tump.
“As a lifelong champion of main street America and American industry, Scott will support my policies that will drive US competitiveness, and stop unfair trade imbalances, and work to create an economy that places growth at the forefront, especially through our coming world energy dominance,” he added.
Bessent’s Indian counterpart will be Finance Minister Nirmala Sitharaman as per tradition although their roles in their respective governments are very different.
Bessent is the Founder and CEO of Key Square Group, a hedge fund. “Through his family office, Bessent controls a number of diversified operating businesses in industries including Agriculture, Hospitality, publishing, and real estate, ” the Trump transition team said in the announcement. “He has been in the investment management business for over 35 years.”
The announcement added, “Bessent has been involved in some (of) the largest and most profitable trades in hedge fund history, including shorting the British pound and the Japanese yen, the Argentine debt reorganization, and MF global Italian bonds liquidation.”
Judge Juan Merchan’s ruling sets the path for Trump to assume the presidency in January without the cloud of a sentencing verdict hanging over him.
The judge in the ‘hush money’ case against President-elect Donald Trump on Friday put off the sentencing indefinitely and indicated that he would consider throwing out the conviction.
Judge Juan Merchan’s ruling sets the path for Trump to assume the presidency in January without the cloud of a sentencing verdict hanging over him.
It is a temporary hold in an unprecedented case where a defendant convicted of criminal offences is elected president.
After postponements, the case had been set to proceed next week.
From the judge’s ruling, it appears that it could be resumed in 2029 when Trump ends his second term and will be 83 years old — if it is not entirely dropped.
Trump’s federal cases accusing him of election interference and mishandling top secret documents are winding down with the likelihood of being withdrawn.
State and local prosecutions are separate and federal officials have no authority over them.
A Georgia state case against Trump alleging election interference in the 2020 election is still pending, although tied up in a web of accusations of prosecutorial misconduct.
Merchan also allowed Trump’s defence team to file requests for dismissing the case by December 2, and for the prosecutors to file their response a week later.
Trump was convicted in May of falsely showing on his account books as legal payments made to porn star Stormy Daniels who had claimed to have had a tryst with him.
Prosecutors made each of the cheques he wrote as a separate criminal offence showing that he was convicted of 34 criminal offences – a propaganda point for the election campaign of Vice President Kamala Harris.
The case was brought by the local Manhattan prosecutor Alvig Bragg, who was elected to the position on a Democratic Party ticket, and the verdict was given by a jury made up of ordinary citizens.
The case dragged on for several weeks requiring Trump to appear in court as a defendant leaving him free to campaign on weekends and on days the case was not being heard.
The constraints and the convictions did not affect Trump’s showing in the election which he won with a majority of the popular votes.
A factor weighing on Merchan was sentencing a defendant who would be president in less than two months would interfere with him exercising his office.
Trump’s lawyers have argued that a Supreme Court verdict gave him broad immunity from prosecution and this will be litigated next month.
Trump nominated his lead lawyer in the case, Todd Blanche, to be the deputy attorney general, and another lawyer on the defence team, Emil Bove, as the principal associate deputy attorney general.
The two lawyers will be filing the papers to dismiss the case based on a Supreme Court verdict giving presidents immunity under certain circumstances.
In a major boost to Cairn Energy, courts in five countries, including the US and the UK, have given recognition to an arbitration award that asked India to return $1.4 billion.
For households paying by Direct Debit for dual fuel, the new cap equates to an annual rate of 1,738 pounds.
The United Kingdom’s (UK) energy price cap is set to increase by 1.2 per cent from January to March 2025, the UK’s energy regulator announced on Friday.
This adjustment is expected to add approximately 21 pounds (26 US dollars) annually, or 1.75 pounds monthly, to the average household energy bill, said the Office of Gas and Electricity Markets (Ofgem).
For households paying by Direct Debit for dual fuel, the new cap equates to an annual rate of 1,738 pounds. This figure remains 10 per cent lower than the same period in 2024 and is 57.2 per cent below the peak recorded during the energy crisis in 2023, according to Ofgem.
Introduced in January 2019, the energy price cap is reviewed periodically by Ofgem to strike a balance between allowing energy suppliers to recover efficient costs and shielding consumers from excessive charges.
“While today’s change means the cap has remained relatively stable, we understand that the cost of energy remains a challenge for too many households,” said Tim Jarvis, director general of markets at Ofgem. He stressed the impact of global market volatility on energy prices and emphasized the importance of building a renewable, domestic energy system to reduce costs and enhance stability.
Ed Miliband, UK Secretary of State for Energy Security and Net Zero, expressed concern about the impact of the cap increase on families struggling with the cost of living. “The rise in the energy price cap will cause concern for families… That is why the government will do all we can to help people. As long as Britain remains exposed to the rollercoaster of global fossil fuel markets, we will be vulnerable to energy price rises over which we have no control,” he said on the social media platform X.
Miliband reiterated that advancing the UK’s clean energy agenda is the key to achieving cheaper and more secure power, highlighting the government’s focus on renewable energy as a long-term solution to mitigate price volatility and support households, Xinhua news agency reported.
Paris-based Sujata Bajaj showcasing her Spacescapes at Art Mumbai
Large in size and vast in scale, Sujata Bajaj’s Spacescapes take on the most immense subject of them all, the cosmos itself. These dramatic and uninhibited orchestrations of pigment by a colourist at the peak of her powers constitute perhaps the artist’s most ambitious project in a life full of challenging undertakings.
Like outer space, the paintings have no pre-defined markers of up and down. Sujata approaches them from all directions, placing the canvas on the floor and adding layer upon layer of thin acrylic pigment, attending equally to all parts of the picture surface such that a viewer focusing on any section will find material to transfix their gaze. To evoke starlight, she uses silver foil that leaps from the canvas while darker shades recede, generating complex interactions of surface and depth.
Although these compositions unmistakably conjure the impression of deep space, they bring to mind aerial views of earthly phenomena as well: the calderas of volcanoes, icy fjords, mangrove-lined estuaries, cities lit up at night. The Spacescapes are also in some sense landscapes.
While Sujata’s recent paintings depart significantly from what preceded them, there are common threads that tie the new work to the old. Her art has always been celebratory and that remains true of her current suite of canvases. The most common title she has used for her paintings over the years is Energy, which represents an elemental, creative force that these immersive views of infinity, just like her previous works, evoke and exalt.
The story of Natcha Thai Massage & Spa is a dream one of passion, cultural heritage, and a desire to bring authentic holistic wellness practices to the Yorkshire community, writes Prof. Geetha Upadhyaya
Thailand is reputed as an abode of relaxation and the ancient technique of Thai massage dates nearly 2,500 years old. It gained popularity as it combines deep tissue pressure, acupressure, muscle and joint stretching, compression, focusing and aligning energy lines, gentle adjustments of the body into yoga-like poses and Indian Ayurvedic principles leading to a holistic approach promoting physical and mental wellness and holistic healing thereby making Thai massage technique one of the most unique and popular forms of alternative medicine rather than just be seen as yet another relaxation technique.
The Thai massage also differs from Western-style massages as it does not need oils or lotions and can be performed on a padded mat on the floor, or a special massage table. The practitioner uses not just their hands, but also their forearms, elbows, and even feet to apply pressure to the body’s energy lines and points.
The story of Natcha Thai Massage & Spa is a dream one of passion, cultural heritage, and a desire to bring authentic holistic wellness practices to the Yorkshire community. At the heart of Natcha Thai Massage & Spa’s success lies the ancient healing practice of Thai massage.
Founded in November 2022 by Pierre and Lucie, this oasis of relaxation in Headingley has quickly become a beloved fixture in the local wellness scene welcoming anyone seeking authentic Thai massage and Spa treatments.
Lucie’s journey with Thai massage began over a decade ago in Thailand, where she learned the art from her aunt. “My aunt’s enthusiasm always inspired me,” Lucie reminisces. “She showed me how Thai massage could be both a career and a calling.” This initial inspiration led Lucie to pursue formal training and certification. She gained diplomas in Reflexology, Thai Massage, and Aromatherapy Massage from the prestigious Union of Thai Traditional Medicine Society. “These qualifications were crucial in deepening my understanding and honing my skills,” Lucie explains. This combination of family-inspired passion and professional training laid the foundation for what would eventually become Natcha Thai Massage & Spa.
For Pierre, the fascination with Thai massage began even earlier. “I was first introduced to Thai massage in Bangkok over 30 years ago,” he shares. “That experience, combined with my background in massage from my modelling work in Paris, gave me a unique perspective on wellness and relaxation.”
The couple saw an opportunity to bring something special to Yorkshire. “There was no Thai-themed Spa in the area so we thought it was an excellent opportunity to bring my experience and training to the UK” says Lucie.
Their unique approach was met with enthusiasm by the locals, especially among sportsmen and women who found Thai massage particularly beneficial for recovery and flexibility. “We were thrilled by the response,” Pierre adds. “It confirmed our belief that there was a real desire for authentic Thai wellness practices in Yorkshire.”
“Thai massage is like yoga without the effort,” explains Lucie, co-founder of Natcha Thai. “It’s incredibly effective for reducing stress, improving flexibility, and boosting energy levels.”
In just two short years, Natcha Thai has grown from a small startup to a thriving business, with plans for expansion on the horizon. The current Spa located in boasts of three massage rooms, a hot tub, and a sauna, offering a range of treatments for individuals and couples seeking respite from the stresses of daily life.
Come December 2024, the opening of the second location of Natcha Thai Massage in Guiseley represents not just growth, but evolution. The new Spa will be a full-service facility, complete with a membership program to cater to regular patrons. In a move that broadens their clientele, the Guiseley location will welcome individuals, as well as couples, making it a destination for all seeking relaxation and rejuvenation.
One of the most anticipated features of the new location is its steam room, adding another layer of luxury to the Natcha Thai experience. Perhaps the most intriguing feature is the addition of a Thai coffee shop within the Spa premises. “We want to create a Space where people can relax and socialize, even if they’re not having a treatment that day,” explains Pierre. “Why not just pop in for a coffee and enjoy the tranquil atmosphere?”
This innovative approach to the Spa services reflects the vision and entrepreneurial spirit that has driven Natcha Thai’s success from the start. As they prepare for this exciting expansion, Pierre and Lucie remain committed to their founding principle: providing a haven of peace and wholesome wellness in the heart of the community.
Come December 2024, the launch of the second branch of Natcha Thai Massage in Guiseley represents not just growth, but evolution. Like the Headingley branch, the new Spa will welcome everyone for a full-service facility, complete with a membership program to cater to regular patrons, making it a destination for anyone seeking relaxation and rejuvenation whether you are a long-time fan or a curious newcomer, Natcha Thai Massage & Spa promises something for everyone.
Do treat yourself to a massage today and be part of this Yorkshire success story!
For further information on Natcha Thai Massage and Spa, please contact:
The book Missing Migrants and Access to Justice commemorates 25 years of Pravasa Lokam, a pioneering Kairali TV program dedicated to locating missing migrant workers in the Gulf and supporting Indians in distress abroad
At the Sharjah International Book Festival (SIBF), the spotlight turned to the challenges of diaspora communities with an event to release Missing Migrants and Access to Justice.
Co-authored by veteran journalist and Pravasa Lokam associate Anasudhin Azeez and renowned diaspora researcher and Lok Kerala Sabha (LKS) coordinator Dr CS Akhil, the book commemorate s 25 years of Pravasa Lokam, a pioneering Kairali TV program dedicated to locating missing migrant workers in the Gulf and supporting Indians in distress abroad.
The book was officially presented by Pabitra Majumdar, Labour and Madad Consul General at the Indian Consulate in Dubai, to Lok Kerala Sabha member TK Abdul Hameed. Advocate Abdul Karim Ahmed bin Eid, the chief guest, emphasised the importance of legal protection for all residents in the UAE, highlighting the nation’s inclusive ethos as a “garden” that embraces all, irrespective of religion or caste.
Labour Consul Pabitra Mukherjee praised Pravasa Lokam for its impactful work, calling it a source of pride for the Indian community. She commended the program’s dedication, which she described as a remarkable contribution from a television channel to society.
The event also honoured Pravasa Lokam Director Rafeek Ravuther for his contributions. Advocate Abdul Karim presented him with a Ponnada (golden shawl) and a memento to mark the occasion. Co-author CS Akhil was similarly felicitated.
Several dignitaries attended the function, including NK Kunjahammed, a member of the Pravasi Kshemanidhi Board of Directors, Malayalam Mission Academy Council Member and UAE Coordinator KL Gopi, and Lok Kerala Sabha invitees RP Murali, K Rajan, Sujitha Subru, and Pravasalokam representative Anil Ampat.
The event was moderated by Lok Kerala Sabha member and journalist Tansi Hashir, who ensured the function’s smooth proceedings.
The release of the book highlights the enduring legacy of Pravasa Lokam and its commitment to addressing diaspora challenges over the past 25 years.
