#State Bank of India Act

[janaknandini-singh999]

Now that Ram Mandir has been opened can I honestly share what I feel? No, I'm not on the side of the extremist Hinduism nor am I on the leftists I just want to take a neutral stand here.

To everyone saying it's just a political agenda and Modi is using Ram mandir to appease the Hindu vote bank. Yes, and? I think we all (even the Hindus) know what game he's playing here. My house was conflicted yesterday. My mother and nani (grandma) were sobbing on finally getting Ram lalla's darshan yesterday on TV, my nanu (grandpa) wasn't supporting any of it. And I was torn. Torn between celebrating a historic moment and rationalizing whether it even deserved to be celebrated. His return deserved to be celebrated yes but the extreme Hindus who shower flowers with one hand and with the other hand throw stones on innocent Muslims of today who never took away our beloved Ram ji away in the first place. Would Ram ji have wanted this? He would've wanted us to celebrate yes but not at the cost of harming others. I condemn the acts of discrimination against the minor sects of society, everyone who's got to suffer because of this. In Mahabharata too, the minority (Pandavas) had to go through hell but they emerged victorious in the end coz they were right. However, I'd also like to state that it's not that simple here. People calling out Islamophobia, I'm with you. People calling out Hinduphobia, I'm ALSO with you. All lives matter no matter if they are Hindu or Muslim or Christian or Palestinian. "Hinduphobia doesn't exist" It does. Ofc not at the scale of the terrifying Islamophobia in India but it does. In other Islamic etc countries, it does. Just like how Islamophobia exists in countries where Islam folk are in minority. But does that give Hindus a license to endorse and impose themselves any more than the colonizers and invaders did? No.

You can't blame innocent Muslims for what Mughal invaders did centuries ago any more than you can blame Vibhishan for what his own brother Raavan did. But whoever is on the side of wrongdoing no matter their caste, creed or religion is just as much of a criminal like Karna was with Duryodhana even though he was a Pandava by birth.

Yk I've grown up in my remote, countryside hometown where they play azaan in mosques every day morning and evening and kid me since then became so used to it that it would feel like something is missing if I'd not hear it in the background somewhere while swinging around near the trees or while just walking on the terrace and watching the distant sunset. I'm a Hindu but well, that's just personal nostalgia.

Not all muslims are terrorists. Not all Hindus are fascists. But for those who are, I'd let Karma take care of you all.

I stand with humanity.

Jai Shri Ram 🙏

Allahu Akbar 🙏

[renee-writer]

I'm noticing that there are some folks doing some serious whining about the Trump administration. So I thought I'd post some advice to help you get through your little crisis.

1. Accept the fact that this is the leadership that we working, middle class Americans, wanted. We are pulling the economic weight in this country and we are tired of pulling the weight of those that do not contribute.

2. If you haven't already, get a job. Every business in the country is hiring. And you get paid for the work you do.

And the harder you work and the more you learn, the faster you will advance and the more you will earn. It's an amazing concept.

3. Understand that if you are a citizen or a legal alien that you are not going to get deported! I don't care what CNN says.

4. Tariffs are a bargaining chip. When you are in business you make deals, and sometimes you have to play hardball. That's how you get the deals you desire.

5. The Civil Rights Act of 1964 protects you from discrimination by age, sex, race, etc. DEI openly violates this. Democrats want you to believe the opposite is true because they value your vote more than your quality of life.

6. It's not the government's money, it's your money. You absolutely should give a damn about how it is spent.

7. We are not the World Bank. If other countries need help they should raise their own finances. I don't recall receiving any hurricane relief money from India or China.

8. Drill baby, drill. Want to know why? Because we have it. Are electric cars the future? Not in their current form. There is way more oil in the ground than lithium, and guess where most of that is? China. Want food prices to come down? Then energy costs have to come down. And that means oil, gas, coal, and nuclear. Unicorn farts won't power a factory.

9. The economy and the security of the country are far more important than your feelings, get over it.

10. There are men and there are women. Simple as that.

11. Education is to establish a learning core that prepares a child for the real, working world. Anything else is wrong.

12. Donald J. Trump is the President of the United States and he won in a mathematical landslide. Get over it.

This is perfect!! Just copy this. Explains it all!!

Note, I took out the part that was name calling, we need to get past that and treat each other with respect!!!!!

Shared from a friend.

[kendrixtermina]

The grimy, racist core of the "but Hamas" thing is not that Hamas is like secretly all perfect rainbow sparkles wonderful, but that Palestinians are expected to have a perfect flawless government before their desire for self-determination & right to resist are taken seriously

Somehow past violence disqualifies Palestinian authorities (at least those that won't be stooges) but it is NEVER treated as invalidating Israel's credibility though they did all the same violence and more ten times over, and also, they STARTED it.

Palestinians are held to an impossible standard.

Or its not even that, because the west bank government became Vichy France level stooges & that didn't lead to a Palestinian state, it was used to prevent that. It's a rigged, no win game.

Hamas (which is only one leading faction in a larger coalition of Palestinian resistance fighters that includes socialists as well) doesn't need to be perfect for Palestinians to have a right to self-determination & to resist occupation.

After all its not like western governments are perfect... far from it... and the Israeli government & military are a heart of darkness and a wretched hive of sin, theres no other way to put what I've learned from all the books, documentaries & tentimonies I've been looking at over the last few weeks as well as the real time events unfolding. There is no evil they wont stoop to.

It's the same basic flaw that creates problematic legal grey zones in USA reservations - can't give the "savages" juristiction over "our" citizens so you can just go in there & do a crime. Or the original sin of the UN, which is the veto power.

The rich countries need to finally stop acting like they are by default the adults at the table even if they're acting like toddlers.

All the world is for Palestine! All the world. This includes most ppl under 40 in the West, just that our shitty old man politicians don't represent us. But overwhelmingly most UN states voted to censure Israel time & time again & the USA keeps protecting them. All the world is against this! They're not all stupid. The USA is not more enlightened. They're just another self-serving superpower just like China & Russia. Yes those regimes suck - but the USA sucks! And ppl in India & Africa do admire China for making cheap tech products accessible to less rich countries. The USA (& by extension most the leadership of the western block) is letting Israel do every conceivable evil right now, there IS no moral high ground.

Time we had real equality. Time we expunged the last vestiges of colonialism. In the UN, in western countries, and in occupied Palestine, where it is the strongest.

[krsnaradhika]

can you please educate me on what the waqf board is? Asked my dad and did not understand a thing

According to this website, and many more:

What is a Waqf Board?

A Waqf Board is a legal entity responsible for managing waqf properties and ensuring their use for intended religious, pious, or charitable purposes. The term “waqf” originates from the Arabic word meaning “confinement” or “prohibition.” The board administers and oversees the proper maintenance and use of waqf assets, which include mosques, graveyards, orphanages, schools, and other institutions serving the community.

Now, what else does this board do?

Recently it claimed the land of 103 farmers. It is the third largest land owner in India, the first and second being the Railways and the Defence department. It claimed an entire village in Telangana, as well as one in Bihar. They say they're taking back the lands Muslims once donated, but that's what they say.

The Waqf Act was first passed by Parliament in 1954. Subsequently, it was repealed and a new Waqf Act was passed in 1995 which gave more powers to Waqf Boards. In 2013, this Act was further amended to give unlimited powers to Waqf boards to snatch anyone’s property, which even could not be challenged in any court of law.

Simply put, the Waqf Board has unlimited powers to claim properties in the name of Muslim charity — a power that no other religious body in India enjoys.

Instances of misuse.

• In the Avinashi case, as per revenue records, 216 people from Devendrakula Vellalar community were given free patta for over 6.3 acres of land in Devendran Nagar in Cheyvur in 1996. But the beneficiaries are now worried about the ownership of the land as the Waqf Board, in a letter to sub-registrar offices in Avinashi, Thottipalayam, and Joint I and Joint II sub-registrar offices of Tiruppur district on August 8, claimed around 93 properties on certain survey numbers in Avinashi and Tiruppur as Waqf properties.

• Thiruchenthurai, a village located on the Cauvery river’s bank in Tiruchirapalli district, also has a 1,500-year-old Sundareswarar Temple. Villagers are now wondering how the Waqf will claim ownership of this property as well.

• The Supreme Court recently held that in the absence of any proof of dedication or user, a dilapidated wall or a platform cannot be conferred a status of a religious place for the purpose of offering prayers or Namaaz. The decision came as a big relief for the Telangana government, as the state had subsequently leased out the land for setting up a university, township and other institutions of repute. The state government had appealed to the Supreme Court after losing out before the Andhra Pradesh high court in April 2012.

• The Rajasthan Board of Muslim Waqf has been requesting financial assistance from the Rajasthan government in order to pay its workers’ salaries. This is in strange contrast to the fact that Waqf Board has more than 18,000 properties listed across Rajasthan and it generates income from more than 7,000 properties.

• The Tamil Nadu Waqf Board has claimed ownership of the 1500-year-old Manendiyavalli Chandrashekhara Swami temple land. The temple has 369 acres of property in and around Tiruchenthurai village in Tamil Nadu.

• In 2021, Waqf Board wrote an application to Gujarat High Court, staking claim on the ownership of two islands in Bet Dwarka in Devbhoomi Dwarka. An irate court, however, refused to hear the application.

So uh, it's a bunch of people trying to instigate communal violence. The Hindus better look after this thing imo. This is why the waqf amendment bill is necessary. This board need not have so much power in its hands, and as India claims to be a secular state, no religious body should be having so :)

[mariacallous]

This week’s BRICS summit in Kazan, Russia, features a new participant: Turkey. A Kremlin official leaked last month that Ankara had applied to join the grouping, following repeated expressions of interest over the years. A spokesperson for Turkish President Recep Tayyip Erdogan’s ruling Justice and Development Party (AKP) then conceded that “a process is underway.”

The BRICS grouping undertook a major expansion recently, adding Egypt, Ethiopia, Iran, and the United Arab Emirates in January, with Saudia Arabia still mulling whether to join. The acronym stands for the group’s original members: Brazil, Russia, India, China, and South Africa.

Still, Turkey’s BRICS application is a watershed moment in geopolitics. If Turkey joins BRICS as a full member or partner state, it would become the first NATO member and longtime candidate for European Union membership to have an active role in an entity seen by some analysts as a challenger to Western predominance.

Turkey’s diplomatic demarche is yet another sign that the global south is rising in world affairs, and it underscores the growth of active nonalignment as an ideology. But it is not a major break in Turkish foreign policy: Ankara’s BRICS application is an extension of its international balancing act, which aims to diversify alliances while maintaining ties with the West.

During two decades in office, Erdogan has promoted a non-Western-centric vision of the world and sought greater global autonomy due to frustration with the EU and the United States. For its part, BRICS is on a roll in terms of both membership and growing global clout. In addition to Turkey, countries such as Malaysia and Thailand have also applied for entry and sent envoys to this year’s summit.

Cooperation among BRICS members in energy, trade, and infrastructure development is growing at a fast clip. As a share of global trade, intra-BRICS trade in goods more than doubled from 2002 to 2022, reaching 40 percent. In 2015, the group created the Shanghai-based New Development Bank with $50 billion in capital. The bank, headed by former Brazilian President Dilma Rousseff, has since lent $33 billion for 96 projects.

BRICS now aims to create an alternative payment system to SWIFT, which it perceives as a Western-dominated international banking system. The project has taken on greater importance after Western countries disconnected Russia from SWIFT following the country’s 2022 invasion of Ukraine.

BRICS would benefit from Turkey’s accession. From a geopolitical standpoint, Turkey’s membership would enhance the group’s stature as a proponent of nonalignment, as opposed to a bloc with an anti-Western agenda—though it would certainly increase Western suspicions about Turkey. At present, the group is torn. China and Russia would like to build it into an anti-Western entity, while Brazil, India, and South Africa would prefer it to take a stance closer to nonalignment. Turkey’s presence is likely to strengthen the second view. The same goes for most of the new members, except for Iran, which is likely to hew close to China and Russia.

Joining BRICS would also put Turkey, a NATO member, in a privileged position: Having a foot in both camps increases Ankara’s foreign-policy leverage. “Being involved in these structures does not mean abandoning NATO,” Erdogan told journalists at the United Nations General Assembly in September. “We do not think that this alliance and cooperation are an alternative to one another.”

Despite Erdogan’s high profile in global affairs, Turkey’s domestic agenda has become increasingly challenging for the president. In March, the AKP lost ground in municipal elections, while economic growth has slowed and inflation runs rampant. But domestic constraints have not limited Turkey’s quest for influence across Eurasia; if anything, these international endeavors offer a welcome distraction.

Erdogan’s foreign policy is built on a complex blend of Turkey’s Ottoman legacy, nationalist aspirations, and a sense that the West’s best days are behind it. He seeks a more multipolar world, where Turkey can act independently of Western hegemony and search for strategic options beyond the West, even if this means partnering with historical enemies, such as Russia, or with countries that have pursued draconian policies against Muslim minorities, such as China.

Erdogan has sought to expand Turkey’s strategic wiggle room through diplomacy. He has signed energy deals with Russia, allowing the Russian state-owned utility Rosatom to build, own, and operate Turkey’s first nuclear power plant; mediated in armed conflicts such as the Russia-Ukraine war; and rallied support against Israel’s military actions in Gaza.

Turkey’s BRICS application is no different. It is not about breaking ties with the West but rather recalibrating them in favor of broader and more diversified alliances that are important to Turkey’s long-term national interests—particularly as Ankara’s prospects for EU membership grow dim and strategic ties with the United States weaken.

Turkey’s decades-long bid for EU membership has been marked by frustration. As Ankara has pushed for accession, EU responses have been lukewarm at best, especially after French and German opposition in the late 2000s. With a population of 87 million people, Turkey would be the largest country in the EU and the only Muslim-majority member. Democratic backsliding after the 2013 Gezi Park protests and the 2016 coup attempt have not helped its case. Today, while Turkey remains a candidate officially, its EU accession talks have stalled.

EU ambivalence over Turkish membership stems from concerns over Turkey’s human rights record and growing authoritarianism under Erdogan’s leadership. There are also disputes over Cyprus and maritime rights in the Eastern Mediterranean. The 2023 European Commission report on Turkey further strained relations; the report condemned Ankara’s democratic erosion and suggested that it is nowhere close to reaching full membership.

Turkey’s links with the United States have not fared any better. A major point of contention was Turkey’s purchase of the Russian S-400 missile defense system, which led to its removal from the F-35 fighter jet program. In response, Turkey opted for F-16s, taking advantage of the Russian invasion of Ukraine to upgrade its defense industry. The conflict also increased Turkey’s leverage over NATO, particularly as it stonewalled Sweden’s bid for membership.

Amid the war in Gaza, Erdogan’s alignment with the Palestinian cause and vocal criticism of Western support for Israel have deepened rifts between Ankara and Washington. In the past, the Turkish president also blamed the Obama administration for its support for the Kurdish-led Syrian Democratic Forces during the Syrian civil war, an issue that has lingered.

All the same, Turkey has proved that it is still indispensable to the West: It has acted as a key mediator in the Russia-Ukraine war, underscoring its delicate balancing act between NATO commitments and partnership with Moscow. In this role, Turkey has achieved impressive results—such as facilitating the largest prisoner swap since the Cold War.

For Erdogan, these developments have confirmed Turkey’s need to pursue a form of nonalignment and to shift its focus toward the global south and non-Western entities. Turkey’s pivot has led it to engagements across the Middle East, Africa, and Latin America, where Ankara has expanded its networks and business. In this context, BRICS offers Turkey a unique opportunity to join a rising bloc that represents a significant portion of the global south as well as Russia and China—key actors in Eurasia.

In a world marked by great-power rivalry and competing grand narratives, Turkey stands to regain its role as a bridge between the West, global south, and Eurasian powers. The country’s unique position draws on its geographical location and imperial history. By applying to join the BRICS—an informal yet high-profile group—Turkey is signaling to the West that it should not be taken for granted.

[solubiliss]

Do non-profit organizations pay GST?

Goods and Services Tax (GST) is a comprehensive tax levied on the supply of goods and services in India. While businesses are generally required to register for GST and comply with tax regulations, many non-profit organizations (NPOs) wonder whether they are liable to pay GST. This article explores whether non-profits need GST registration and under what circumstances they are taxed.

Are Non-Profit Organizations Required to Register for GST?

Non-profit organizations (NPOs), including trusts, societies, and charitable institutions, are not automatically exempt from GST. Their liability depends on the nature of their activities and the type of income they generate.

If an NPO is engaged in the supply of goods or services and its annual turnover exceeds the prescribed threshold of ₹40 lakh (for goods) or ₹20 lakh (for services), GST registration is required. For organizations in special category states, the threshold is lower at ₹20 lakh for goods and ₹10 lakh for services.

If your non-profit operates in Tamil Nadu, opting for GST registration in Coimbatore ensures compliance with tax laws.

When Do Non-Profits Have to Pay GST?

Non-profits must pay GST in the following cases:

Commercial Activities: If an NPO provides services or sells goods for a fee, GST applies. For example, if a charitable trust sells handmade products to raise funds, GST is applicable.

Sponsorship & Advertisements: If an NGO receives sponsorship or earns revenue through advertisements, GST is levied.

Paid Events & Workshops: If an NPO organizes training sessions, workshops, or ticketed events for a fee, GST is chargeable.

Services to Businesses: If a non-profit provides services to companies (e.g., consultancy, CSR-related projects), GST registration is mandatory.

For smooth compliance, choosing online GST registration in Coimbatore helps NPOs fulfill their tax obligations.

When Are Non-Profits Exempt from GST?

Non-profit organizations can claim GST exemption in the following cases:

Charitable Activities: Services directly related to education, healthcare, or public welfare may be exempt.

Donations & Grants: If an NPO receives funds as pure donations without any service in return, GST does not apply.

Government-Approved Exemptions: Some NGOs registered under Section 12AA of the Income Tax Act may receive GST exemptions on specific activities.

How to Get GST Registration for Non-Profits?

If your NPO is liable to pay GST, here’s how to register:

Collect Required Documents – PAN, trust registration certificate, bank details, and address proof.

File Application on GST Portal – Submit the details online.

Receive GSTIN – After verification, the organization gets a unique GST Identification Number (GSTIN).

For seamless registration, opting for GST registration in Coimbatore through expert services ensures accuracy and compliance.

Conclusion

Non-profits are not automatically exempt from GST. If they engage in commercial activities, sponsorships, or charge fees for services, GST applies. To ensure compliance, non-profits can opt for online GST registration in Coimbatore and follow necessary tax regulations.

[darkmaga-returns]

Why Is Europe Making Itself Irrelevant”

Paul Craig Roberts

Readers want to know why the UK PM and European leaders–really, non-readers, misleaders, bad leaders–want war with Russia over Ukraine.  My answer is that they don’t.

What would they go to war with?  According to the European “leaders,” they already have given all their weapons to Ukraine and have nothing with which o fight a war.  The only way Europe can send any money to Ukraine is to get the EU central bank to print euros to send to Ukraine.  Moreover, the NATO force structure depends on the United States.  Without the US, Europe lacks a force structure that can support a war. Trump has ruled out war with Russia and read Zelensky the riot act.  Unless Putin makes a fantastic mistake, I expect the conflict to end.

Perhaps what is going on with Europe’s is that EU governments, after sending so much money and weapons to Ukraine backed by claims that Ukraine was winning and would win, want to be able to say that Trump sold out Ukraine in order to avoid accountability to the deceived populations of Europe.  They can blame Trump for denying Ukraine and NATO a victory.

The European talk of sending “peacekeepers” to Ukraine is nonsense. Putin intends a settlement, an over-and-done-with event, not a ceasefire with European “peacekeepers.”  Trump can’t get a settlement if he sides with the EU against Putin.  If Trump and Putin don’t accept “peacekeepers,” it can’t happen.

Here is a thought.  Trump sees economic growth as fed by opportunity.  He sees more opportunity in business deals with Russia, India, China, the rest of Asia, and Africa than he sees in Europe.  Trump understands that it was sanctions and the weaponization of the dollar that produced BRICS and the search for an alternative for central bank reserves and international payments. To save the dollar’s role as reserve currency, Washington needs to stop bullying.  Trump, like Putin, wants deals that work for everyone, not wars. In a w

[low-salad]

NewBirth - The Story of Satiea

The year is 2069, the location is Satiea (previously Singapore).

With the Chinese economy having collapsed the City State has fallen to rule by the formidable Anglo-Russian Alliance (ARA) which maintains control of most financial centres located East of the United American Colonies (UAC), a rival force in politics, warfare and cultural aspirations.

Ribena Bay Sands During the late 2020s, the remaining population of Planet Earth discovered a revelation that explains how it's nature is derived from the Complex Computer System (CCS), an elaborate simulation that determines our very existence and everything that happens within it.

The CCS has not only written the history of our planet but that of every living thing within it.

Over the ages, the Complex Computer System has been delivered through "re-layering" the human experience. It is thought that throughout the ages the CCS has undergone Five Major Upgrades (MUs). v1. Genesis v2. Early Age v3. Industrial Revolution v4. Internet Age v5. Interplanetary Relations

It is now widely believed that the MUs are delivered through Viral and Antiviral methods into the human form.

It's also understood that consequences such as War, Famine, Drought and Natural Disasters are necessary consequences of such occurrences as defined by God.

United Overseas Wankers The Mainstream Banking system has been taken over by a band of Interplanetary Hackers named "XYLOPUMP" who aim to redistribute wealth more evenly amongst the remaining population of Planet Earth which is comprised of three major species - Humans, Aliens and Bots.

Each species may look the same (at least today) but they carry different personality different characteristics. The ratios of such populations differ starkly across nations.

Satiea is one of the few locations on Planet Earth where Interplanetary Harmony (IH) is maintained at a relatively stable level; but when hostilities do break out they are fierce.

IH levels are reported on a daily basis and act as a barometer of the current state of civil and cultural affairs in society.

Blockchain technology has been key to rebuilding the financial system with the old 'Banking System' having completely collapsed due to technical debt, overregulation and inherent greed.

Rexulti for Two Throughout the transition to the New World (Planet Earth v5), the Human Race suffered considerable damage to their Mental Health due to the societal changes caused by the programming associated with the v5 upgrades.

The population was reliant on 'Big Pharma' remedies but these became expensive and carried unusual side effects such as mysterious gambling addictions, amnesia and high rates of suicide.

This was until more Advanced forms of pharmaceutical solutions emerged from the fields and factories of The Golden Triangle, India and Thailand.

Two such remedies that emerged from The Underworld were ISO-Ketamine and Penis Envy mushrooms which act as a portal between interplanetary dimensions.

With the nation of Satiea historically operating a strict 'Anti Narcotics' policy, the Prime Minister - Kevin Kwang Yousef (KKY) - enacted a historical policy change.

The PM decreed that on designated Public Holidays (4 times per year), these experimental substances would be made available to general public for personal consumption, with distribution taking place under strict guidelines.

Maid's Day Off With the population of Planet Earth in freefall due to the Cost of Living Crisis. Planet Earth's two ruling factions, the Anglo Russian Alliance (ARA) and the United American Colonies (UAC) agree to an Breeding Policy which aims to harness the characteristics of The World's 25 Most Beautiful Countries as defined by various Online Blogs and Articles.

Supported by a Population Injection from Aliens and Bots, the policy was able to help successful maintain and grow the population of Planet Earth despite the diminished breeding levels from the Human Race.

The Blessed Maria The City State of Satiea not only led a financial revolution but also a Cultural one. It was a form of New Renaissance where the bulk of society moved from task-based and managerial-based roles into art-based activities for their primary source of income.

New art forms were discovered including a new music genre called 'KatongStep', a form of electronic music which has it's beat, rhythm and melodies intrinsically linked to the universe's astrological cycle.

When one dances the KatongStep, it's said that they are digitally cleansing their soul.

NewBirth was born on 12th January 2025. His preferred genre is Drum and Bass.

Welcome to the Fifth Wave of Punk

[suhaliyaqureshi]

Special Purpose Acquisition Companies (SPACs) and Their Relevance to Indian Firms

Special Purpose Acquisition Companies, or SPACs, have become a buzzword in global financial markets. As an innovative way to take companies public, SPACs offer a faster and more flexible alternative to traditional Initial Public Offerings (IPOs). While the model has gained significant traction in the United States, it presents a unique opportunity for Indian firms looking to expand and raise capital abroad. However, challenges related to regulatory frameworks and market risks still persist. This blog explores what SPACs are, their advantages, and how they might fit into the Indian corporate landscape.

What is a SPAC?

A SPAC is essentially a “blank-check” company with no commercial operations. Its sole purpose is to raise funds through an IPO to merge with a private company, allowing the target company to become publicly listed without going through the traditional IPO process. Investors buy into a SPAC based on the expertise of its sponsors, trusting them to identify and acquire a promising target. If no acquisition takes place within a set timeframe (usually 24 months), the SPAC must return the money to investors.

Key Characteristics of SPACs:

Speed and efficiency: Companies can become publicly listed faster than via a standard IPO.

• Lower regulatory scrutiny: SPAC mergers avoid much of the red tape associated with IPOs.

• Pre-negotiated valuations: Target companies can negotiate valuations with the SPAC sponsors rather than relying on fluctuating market conditions.

The Global Rise of SPACs

SPACs became especially popular in 2020 and 2021, accounting for nearly half of all IPOs in the United States during that period. Successful companies like Virgin Galactic and DraftKings used SPACs to go public, paving the way for others to explore this model. Investment banks, venture capitalists, and private equity firms have embraced SPACs as a quick, lucrative way to introduce companies to public markets.

Why SPACs gained momentum:

1. Volatile markets: During periods of market uncertainty, SPACs offer companies more predictability in terms of valuation and timeline.

2. Demand for faster capital access: Startups and high-growth firms, particularly in sectors like technology and healthcare, found SPACs an attractive way to secure investments.

The Relevance of SPACs for Indian Firms

Indian firms, especially those in technology, fintech, renewable energy, and pharmaceuticals, are increasingly eyeing global markets. SPACs offer a convenient way for these firms to list abroad, particularly on exchanges such as the NASDAQ or the New York Stock Exchange (NYSE).

Advantages of SPACs for Indian Firms:

1. Global Market Access: Companies looking to expand internationally can benefit from SPACs by gaining a listing on prestigious foreign exchanges.

2. Flexible Valuation Models: Indian startups and unicorns often find it challenging to secure favorable valuations through traditional IPOs. SPACs offer them the opportunity to negotiate more favorable terms.

3. Capital for Growth: Indian firms in growth-intensive sectors can leverage SPAC mergers to secure quick funding for global expansion.

Challenges Indian Firms May Face

While SPACs hold immense potential, Indian companies encounter several regulatory and market barriers in leveraging this route effectively:

1. Regulatory Uncertainty: The Securities and Exchange Board of India (SEBI) has yet to create clear guidelines on SPAC transactions, adding a layer of uncertainty for companies and investors.

2. Foreign Exchange and FEMA Regulations: Indian firms must navigate the complexities of Foreign Exchange Management Act (FEMA) regulations to raise capital abroad.

3. Speculative Nature of SPACs: Not all SPACs find suitable acquisition targets, leading to market skepticism and reputational risks.

Examples of Indian Companies Exploring SPACs

Some Indian firms have already started testing the SPAC model. For instance, ReNew Power, a leading renewable energy company, merged with a U.S.-based SPAC to get listed on the NASDAQ. This case shows that Indian firms, especially in industries aligned with global trends like sustainability, can find success through SPAC mergers.

In addition, startups in the tech and digital economy sectors are increasingly considering SPACs to bypass the lengthy regulatory processes involved in listing on Indian exchanges. However, SEBI’s reluctance to recognize SPACs domestically means these companies currently need to explore foreign exchanges for listings

What Lies Ahead: Will SPACs Become a Mainstay in India?

As Indian companies continue to expand globally, SPACs offer an alternative path to raise capital and build international credibility. If SEBI introduces SPAC-friendly regulations, India could see a surge in SPAC-based listings—both domestically and internationally. Additionally, financial hubs such as Singapore and Hong Kong are emerging as attractive venues for SPAC deals, offering Indian firms new avenues for public listings.

Conclusion

SPACs present a promising yet challenging opportunity for Indian firms looking to expand and raise capital in global markets. With advantages such as flexible valuations, quicker listings, and access to foreign capital, this model can benefit high-growth Indian companies in technology, healthcare, and renewable energy. However, regulatory uncertainties and market risks need to be addressed for Indian firms to fully capitalize on this trend.

As the world watches the evolution of SPACs, Indian firms and regulators must adapt to these changing dynamics. With the right policies in place, SPACs could become a pivotal part of India’s global corporate strategy.

By understanding and engaging with this evolving financial mechanism, Indian firms can position themselves for success in global markets. As you build your corporate law portfolio, tracking these trends will showcase your knowledge of innovative legal and financial strategies—an essential skill for future corporate lawyers.

[brookston]

Holidays 8.22

Holidays

America’s Cup Day

Baltic Unity Day (Latvia)

Be An Angel Day

Chuck Brown Day

Dia do Folclore (Folklore Day; Brazil)

Exercise Day

Feast of the Queenship of Mary

Flag Day (Russia)

Folklore Day (Brazil)

Fortuna Asteroid Day

International Apostasy Day

International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief (UN)

International Museum Meme Day

International Tongue Twister Day

Law Enforcement Officers Remembrance Day (Ukraine)

Liquid Soap Day

Loch Ness Monster Day

Madras Day (India)

Miriam Asteroid Day

National Firefighters Day (Mexico)

National Pamela Day

National Punctuation Day

National Rainbow Baby Day

National Surgical Oncologist Day

National Tooth Fairy Day (also 2.28)

Never Bean Better Day

Pocketphone Day

Rumpleskunkskin’s Wedding (Goblin celebration)

Salmon Day (French Republic)

Southern Hemisphere Hoodie-Hoo Day

Take Your Cat to the Vet Day

Timothy Herb Day

Tunamint (Natural Chimneys, Virginia)

World Folklore Day

World Rainbow Baby Day

Food & Drink Celebrations

Burgers to Beat MS Day (Canada)

Eat a Peach Day

National Bao Day

National Pecan Torte Day

World Jollof Rice Day

World Plant Milk Day

Independence & Related Days

Arstotzkan Union (Declared, 2019) [unrecognized]

Korea (Annexed by Japan; 1910)

New Mexico (Annexed by US; 1846)

Sierra Leone (Founded as Slave Asylum; UK; 1788)

Wakamawabla (Declared, 2016) [unrecognized]

4th Thursday in August

California Public Radio Day (California) [4th Thursday]

National Bra Fitting Day [4th Thursday]

National Burger Day (a.k.a. Mr. Hyde National Burger Day; UK) [Thursday before August bank holiday]

Thinking Thursday [4th Thursday of Each Month]

Thirsty Thursday [Every Thursday]

Three for Thursday [Every Thursday]

Thrift Store Thursday [Every Thursday]

Throwback Thursday [Every Thursday]

Thuringer Thursday [4th Thursday of Each Month]

Festivals Beginning August 22, 2024

Acton Fair (Acton, Maine) [thru 8.25]

Brewed In Minnesota Exhibit (Minnesota State Fair, Minnesota) [thru 9.2]

Buttermilk Days Festival (Bardstown, Kentucky) [thru 8.24]

Evergreen State Fair (Monroe, Washington) [thru 9.2]

Fan Expo Canada (Toronto, Ontario) [thru 8.25]

Gillespie County Fair (Fredericksburg, Texas) [thru 8.25]

Gueydan Duck Festival (Gueydan, Louisiana) [thru 8.25]

Loyal CornFest (Loyal, Wisconsin) [thru 8.25]

Maryland State Fair (Timonium, Maryland) [thru 9.8]

Minnesota State Fair (Falcon Heights, Minnesota) [thru 9.2]

Piscataquis Valley Fair (Dover-Foxcroft, Maine) [thru 8.25]

Swiss Wine Festival (Vevay, Indiana) [thru 8.25]

A Taste of New England (Stowe, Vermont) [thru 8.25]

Taste of Tennis (New York, New York)

Winterville Watermelon Festival (Winterville, North Carolina) [thru 8.25]

Feast Days

Andrew of Fiesole (Christian; Saint)

Annie Proulx (Writerism)

Archibald Willard (Artology)

Dorothy Parker (Writerism)

Fabrizio (Christian; Saint)

Feast of Hathor and Min (Ancient Egypt)

Feast of the Immaculate Heart of Mary (Roman Catholic)

Feast of the Queenship of Mary

George Herriman (Artology)

Guinefort (Christian; Saint)

Harrison (Positivist; Saint)

Hippolytus (Christian; Saint)

Ignatius Reilly Day (Church of the SubGenius; Saint)

Jacques Lipchitz (Artology)

Janmashtami (Festival celebrating birth of Krishna; India)

Kelly Freas (Artology)

Muin (Blackberry; Celtic Book of Days)

Nu Kea Day (Chinese Healing Goddess; Everyday Wicca)

Order of the Rosy Cross Foundation Day

Philibert (Christian; Saint)

Queenship of Mary (Christian; Saint)

Ray Bradbury (Writerism)

Roberto Aizenberg (Artology)

Rumpleskunkskin’s Wedding (Goblin Celebration; Shamanism)

Sigfrid (Christian; Saint)

Symphorian (Christian; Saint)

Tarantula Teasing Day (Pastafarian)

Timotheus (Christian; Saint)

Timothy, Hippolytus & Symphorian (Christian; Martyrs)

Virgo zodiac sign begins (Pagan)

The Weatherberries (Muppetism)

Lucky & Unlucky Days

Sensho (先勝 Japan) [Good luck in the morning, bad luck in the afternoon.]

Premieres

Alice in the Big League (Disney Cartoon; 1927)

And Now For Something Completely Different (Film; 1972)

Another One Bites the Dust, by Queen (Song; 1980)

Bimbo’s Express (Betty Boop Cartoon; 1931)

Blitz Wolf (Tex Avery MGM Cartoon; 1942)

Bojack Horseman (Animated TV Series; 2014)

Bootle Beetle (Disney Cartoon; 1947)

Clown on the Farm (Noveltoons Cartoon; 1957)

The Cocktail Party, by T.S. Eliot (Play; 1949)

Dancing in the Streets, recorded by Martha and the Vandellas (Song; 1966)

Ghosts, by Henrik Ibsen (Play; 1883)

G.I. Jane (Film; 1997)

Hamlet 2 (Film; 2008)

High Plains Drifter (Film; 1973)

The House Bunny (Film; 2008)

The Ice Carnival (Terrytoons Cartoon; 1941)

If I Stay (Film; 2014)

Joy in the Morning, by P.G. Wodehouse (Novel; 1947) [Jeeves #8]

Jumpin’ at the Woodside, recorded by Count Basie (Song; 1938)

The Mild West (Noveltoons Cartoon; 1947)

Top-pop-a-da, Two Bass Hit and Ow!, recorded by Dizzy Gillespie (Song; 1947)

Plop Goes the Weasel (WB LT Cartoon; 1953)

Porky’s Poultry Plant (WB LT Cartoon; 1936)

The Saint, by Burt Barer (Film Novelization; 1997) [Saint #51]

Sin City: A Dame to Kill For (Film; 2014)

The Skeleton Dance (Silly Symphonies Disney Cartoon; 1929)

Stand By Me (Film; 1986)

Stormy Seas (Ub Iwerks MGM Cartoon; 1932)

Toby Tortoise Returns (Silly Symphonies Disney Cartoon; 1936)

Travelaffs (Noveltoons Cartoon; 1958)

Today’s Name Days

Regina, Siegfried (Austria)

Marija, Regina, Vladislava (Croatia)

Bohuslav (Czech Republic)

Symphorian (Denmark)

Iivo, Ivalo, Ivar, Ivari, Ivo (Estonia)

Iivari, Iivo (Finland)

Fabrice (France)

Maria Regina, Regina, Sigfried (Germany)

Menyhért, Mirjam (Hungary)

Fabrizio, Maria, Regina (Italy)

Nadīna, Rudīte (Latvia)

Ipolitas, Karijotas, Rimantė, Sigitas, Zygfridas (Lithuania)

Harriet, Harry (Norway)

Cezary, Dalegor, Fabrycjan, Fabrycy, Hipolit, Hipolita, Maria, Namysław, Oswald, Oswalda, Tymoteusz, Zygfryd (Poland)

Tichomír (Slovakia)

María, Timoteo (Spain)

Henrietta, Henrika (Sweden)

Florence, Florent (Ukraine)

Hayden, Hazel, Heath, Heather, Hector (USA)

Today is Also…

Day of Year: Day 235 of 2024; 131 days remaining in the year

ISO: Day 4 of Week 34 of 2024

Celtic Tree Calendar: Coll (Hazel) [Day 20 of 28]

Chinese: Month 7 (Ren-Shen), Day 19 (Wu-Wu)

Chinese Year of the: Dragon 4722 (until January 29, 2025) [Wu-Chen]

Hebrew: 18 Av 5784

Islamic: 16 Safar 1446

J Cal: 25 Purple; Foursday [25 of 30]

Julian: 9 August 2024

Moon: 88%: Waning Gibbous

Positivist: 10 Gutenberg (9th Month) [Harrison]

Runic Half Month: As (Gods) [Day 15 of 15]

Season: Summer (Day 64 of 94)

Week: 3rd Full Week of August

Zodiac: Virgo (Day 1 of 32)

Calendar Changes

Virgo (The Virgin) begins [Zodiac Sign 6; thru 9.22]

[hindulivesmatter]

Janaknandini Singh@janaknandini-singh999~

Now that Ram Mandir has been opened can I honestly share what I feel? No, I'm not on the side of the Hindutva nor am I on the leftists I just want to take a neutral stand here. To everyone saying it's just a political agenda and Modi is using Ram mandir to appease the Hindu vote bank. Yes, and? I think we all (even the Hindus) know what game he's playing here. My house was conflicted yesterday. My mother and nani (grandma) were sobbing on finally getting Ram lalla's darshan yesterday on TV, my nanu (grandpa) wasn't supporting any of it. And I was torn. Torn between celebrating a historic moment and rationalizing whether it even deserved to be celebrated. Would Ram ji have wanted this? He would've wanted us to celebrate yes but not at the cost of harming others. I condemn the acts of discrimination against the minor sects of society, everyone who's got to suffer because of this. In Mahabharata too, the minority (Pandavas) had to go through hell but they emerged victorious in the end coz they were right. However, I'd also like to state that it's not that simple here. People calling out Islamophobia, I'm with you. People calling out Hinduphobia, I'm ALSO with you. All lives matter no matter if they are Hindu or Muslim or Christian or Palestinian. "Hinduphobia doesn't exist" It does. Ofc not at the scale of the terrifying Islamophobia in India but it does. In other Islamic etc countries, it does. Just like how Islamophobia exists in countries where Islam folk are in minority. But does that give Hindus a license to endorse and impose themselves any more than the colonizers and invaders did? No.You can't blame innocent Muslims for what Mughal invaders did centuries ago any more than you can blame Vibhishan for what his own brother Raavan did. But whoever is on the side of wrongdoing no matter their caste, creed or religion is just as much of a criminal like Karna was with Duryodhana even though he was a Pandava by birth.Yk I've grown up in my remote, countryside hometown where they play azaan in mosques every day morning and evening and kid me since then became so used to it that it would feel like something is missing if I'd not hear it in the background somewhere while swinging around near the trees or while just walking on the terrace and watching the distant sunset. I'm a Hindu but well, that's just personal nostalgia.Not all muslims are terrorists. Not all Hindus are fascists. But for those who are, I'd let Karma take care of you all.I stand with humanity.Jai Shri Ram 🙏 Allahu Akbar 🙏

Look at this post ....... I just came across....

Ooooh yeah, I saw this. Yeah, it left a really bad taste in my mouth. OP was literally swinging left and right trying to appease both groups. But oh well, what can you do...

[unlovablereject]

There is a difference between supporting a terrorist organization and a country defending itself after a brutal act of war. Yes, things were tense, but hamas has clearly made it his purpose to take Israel and kill all Jews. If you keep supporting hamas at this point, you are antisemitic, no questionability.

CBC has decided to not keep what little journalistic integrity they still have and won't call the act of terrorism what it is without quotes now. It's "poltical" now to call a terrorist attack what it is. This TERROIST ATTACK, killed 2000 people after a major holiday, in the middle of the night men, women, children, babies, newborns... Citizens jumping out of their beds, turning back into soldier, dying to save their neighbours. Yet, a conflict that happened in India was called a "...horrible act of terroism..." without any quotes. Here's some proof of how little journalism is actual unbiased. Source. . Source TV fails us all. https://torontosun-com.cdn.ampproject.org/v/s/torontosun.com/opinion/columnists/cbcs-arguments-for-not-calling-hamas-a-terror-group-are-weak/wcm/afde9ee1-3ac6-4243-b104-9f949a9bf181/amp/?amp_gsa=1&amp_js_v=a9&usqp=mq331AQIUAKwASCAAgM%3D#amp_tf=From%20%251%24s&aoh=16981252683198&csi=1&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Ftorontosun.com%2Fopinion%2Fcolumnists%2Fcbcs-arguments-for-not-calling-hamas-a-terror-group-are-weak

https://www.theglobeandmail.com/opinion/editorials/article-cbc-english-tv-has-lost-its-relevance-its-time-to-talk-about-that/

Israel did NOT blow up the hospital in Gaza. It has been confirmed by BOTH SIDES. There was a ton of footage maintained from the general that shows Israeli soldiers trying to save what lives they could, as they also died in the explosion. It was again, hamas the TERROIST! TO HIS OWN PEOPLE WHAT A SUPRISE?!

Here is an article on that: https://www.wired.com/story/al-ahli-baptist-hospital-explosion-disinformation-osint/

Many times my people and Israel have been tried to be wiped out. We survived almost the entire Roman Empire, and were a thorn in Rome's side. After many failed attempts, Israel was taken by Titus who went out of his way to make all forces hit Israel. Then Titus gave it the name philistines (which means weak/weakness, while Israel means Lion).

Israel was an established country for 40 years before, without their consent, and to give up land the same people we gave asylm to in the 1920's, and now want to actively destroy you? Did deeper than the first fucking google article dumbasses, or past TV which has been an unreliable source more and more for decades.

There is no history of a palistine before it became a state in 1988. Before that they lived in Syria, Jordan and Egypt. You want some history, okay, just for proof here it if FROM THE UNITED NATIONS (UN):

Israel has belonged to Jewish people since Torah. A book that predates both religions that seem to side to destroy Jews. Both have an active agenda. To get rid of us and our land.

Israeli Soldiers are taught to try to preserve all life, but protect innocent no matter the side.

Hamas does not care about his citizens, they are starving, thirsty, and sick. If he thought about them why did he not make sure he would be able to have infrastructure to make sure his people could eat, drink, have power, medical supplies, fossil fuels? He didn't think about them, he never does, and never has. His goal is to destroy Israel and kill every single Jew.

We are people too, us Jews, Israelis. Why are we always evil for wanting to exist and wanting what should belong to us?

People tell me I "don't know the history of the area". I do. I know a lot more than 99% of people who asked. I could talk for hours about both sides history (most of it Israeli because it was our G-d given, ancestral birthright).

Do you not think we want and deserve a place to go that isn't dominated by the three top biggest religions in the world, ours not even being close to those. (Christianity, Islam, and Hinduism)

I know way more than this but I'm tired of your antisemitism USA especially. And shame on you for not seeing this clearly.

Britian, it's illegal to protest for hamas in the streets, as it should be everywhere.

It's funny it went from Islamaphobia from 2001 to Oct. 2023 to antisemitism and wanted genocide real quick. You do realize this is the ONLY PLACE FOR JEWISH PEOPLE! We want what is rightfully ours!

With all that said I do not like war, I despise innocent people dying for just where they live. I want peace in the land, and everyone that lives there.

Am Yisrael Chai!

May Hashem bring peace to the land and ALL who dwell there. Strengthen the hands.of our Holy defenders and May the crown of victory be place upon them.

-(paraphrased) Avianu Shebashamim

[mariacallous]

Colombia and the United States nearly went to war last weekend, but if you blinked, you might have missed it. Piqued by Colombia’s refusal to accept U.S. military flights bearing shackled detainees, U.S. President Donald Trump on Sunday posted on social media a blistering broadside of threats, including 25 percent tariffs on all Colombian exports, later upped to 50 percent after another heated exchange with Colombian President Gustavo Petro. Tucked away at the very bottom of the list, however, was an item that deserves more attention than it received. Briefly, it reads “IEEPA [International Emergency Economic Powers Act] Treasury, Banking and Financial Sanctions to be fully imposed.”

The implications of these words are easily missed. Most attention focused on the tariffs on popular Colombian exports such as coffee and cut flowers, which are easy for the average person to understand. Additional threats to restrict (or revoke) visas for members of Colombia’s government, and to conduct rigorous entry shakedowns for visiting Colombian nationals, were measures that would usually be aimed at a long-standing adversary, such as China, over some deep-seated dispute—as opposed to an economic and military partner, such as Colombia, raising a limited objection.

But the proposed banking sanctions went a giant leap further, toying with what, in economic policy, has often been called the “nuclear option.”

The details were, of course, as vague as a hastily posted threat can be. But taken at face value, the language implied all-but-wartime steps to treat Colombia as an enemy state, possibly freezing its assets (including reserve holdings of U.S. Treasurys) and cut it off from the U.S. financial system and all dollar-denominated transactions.

These are the kinds of measures imposed on countries such as North Korea and Iran or fundraising networks for al Qaeda. Even after Russian President Vladimir Putin invaded Ukraine, U.S. officials hesitated to impose such draconian sanctions on Russia, worried they might be considered an act of war—though they ended up pulling the trigger.

One reason U.S. officials wavered, in the case of Russia, involved the potential disruptions such a drastic cutoff could create for U.S. banks and businesses. A more profound concern, however, relates to America’s role as a trusted custodian of the world’s largest financial markets and reserve currency.

The effectiveness of U.S. financial sanctions depends on the perception that they are outliers in an otherwise predictable, rules-based order. Most countries, and most investors, have to believe that it would never happen to them. Sanctions on North Korea? That could never be me. Iran? Same. China or Russia? Things get a little trickier if (like Saudi Arabia or India) you do a lot of trade or investment with them or don’t always see eye to eye with the United States. But Colombia? Canada? Denmark? That could be anyone, tomorrow, based on Trump’s latest whim.

There are compelling reasons why most countries hold U.S. dollar reserves. The United States has the world’s largest and most liquid financial markets, allowing them to put their money in and out of those markets easily. It still has the world’s largest economy, ensuring that someone will always demand dollars to pay for the goods and services it produces—which mean other markets, for global commodities, are denominated in dollars, too. The United States is assumed to be good for its debts, and in moments of economic uncertainty, such as the COVID-19 pandemic, scared investors tend to abandon other assets and rush into U.S. Treasurys as a safe refuge.

But what if that safe refuge turns into a knife at your throat? Previously, that threat was reserved for rogue states and as a punishment for extreme actions such as invasions of a sovereign neighbor. Now, it seems, it might be anybody, on any given day, who happens to run afoul of Trump. Dollar holders may begin to consider alternatives, even if they come with some cost and inconvenience. Like many cataclysmic changes, it might happen gradually—and then suddenly.

Now, to be fair, dollar hegemony is not an unalloyed boon for the U.S. economy: The desire of so many foreign countries to hold dollars as reserves plays a key role in driving chronic U.S. trade deficits. But the “rapid unscheduled disassembly” (to use the SpaceX euphemism for “explosion”) of the dollar wouldn’t be a good thing either. It would translate into financial pain and a dramatically lower standard of living for millions of Americans.

Either the dollar would fall, making everyday imports a lot more expensive, or the U.S. Federal Reserve would have to hike interest rates, pushing the economy into recession. A real dollar crisis would probably mean both.

The latest standoff appears to have ended as quickly as it escalated. Trump claims that Colombia backed down, though which country actually conceded what may not become clear until flights resume. In fact, both countries had a strong incentive to fudge their differences and “agree to disagree,” if only to step away from the brink.

But to the extent that Trump walks away the perceived victor, he will be strongly tempted to make such threats again. And similar disputes—with Denmark over Greenland, the European Union over social media regulation, and Canada over Trump’s bizarre insistence that it become the 51st U.S. state—lie just around the corner. If threats of ���nuclear” banking sanctions become the president’s go-to ultimatum, with friend and foe alike, Washington will be playing a very dangerous game indeed.

[newstfionline]

Wednesday, September 20, 2023

What to Expect When You’re Expecting the U.N. General Assembly (Foreign Policy) As world leaders descend on the United Nations headquarters in New York City, the international body is fighting to maintain its relevance in a world it wasn’t built for when it was established nearly 80 years ago. Global powers are increasingly circumventing the unwieldy U.N. system to conduct multilateral diplomacy, such as through the G-7, G-20, and BRICS (Brazil, Russia, India, China, and South Africa) blocs. Eight years ago, the U.N. outlined an ambitious batch of goals to tackle global poverty, gender equality, climate change, and other pressing global issues by 2030. But so far, the world is way off target in meeting those goals. The war in Ukraine has frontally challenged one of the U.N.’s most fundamental purposes, enshrined in its foundational charter, of averting major wars. The Western world’s laser focus on the conflict in Ukraine, meanwhile, has frustrated other countries in the global south as other dire humanitarian catastrophes—conflict in Sudan, coups across Africa, the migration crisis in Central America, and a lot of climate-related disasters—struggle for resources and high-level attention.

Canada’s surging food prices (Reuters) Canada’s plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada’s weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. Last week, Prime Minister Justin Trudeau promised to amend the Competition Act to help bring down prices. Trudeau’s move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. At the same time, the central bank’s efforts to bring down inflation by raising interest rates to a 22-year-high have pushed up mortgage costs for homeowners and made buying a home unaffordable for others.

U.S. National Debt Tops $33 Trillion for First Time (NYT) America’s gross national debt exceeded $33 trillion for the first time on Monday, providing a stark reminder of the country’s shaky fiscal trajectory at a moment when Washington faces the prospect of a government shutdown this month amid another fight over federal spending. It came as Congress appeared to be faltering in its efforts to fund the government ahead of a Sept. 30 deadline. Unless Congress can pass a dozen appropriations bills or agree to a short-term extension of federal funding at existing levels, the United States will face its first government shutdown since 2019. The debt is on track to top $50 trillion by the end of the decade, as interest on the debt mounts and the cost of the nation’s social safety net programs keeps growing.

Brazil’s Lula pitches his nation—and himself—as fresh leader for Global South (AP) “Brazil is back.” That has been Luiz Inacio Lula da Silva’s refrain for the better part of the last year, with the president deploying the snappy slogan to cast Brazil—and himself—as a leader of the Global South no longer content to abide the world’s outdated workings. During Lula’s travels, he has pushed for global governance that gives greater heft to the Global South and advocating diminishing the dollar’s dominance in trade. He has made clear that Brazil has no intention of siding with the United States or China, the world’s two largest economies and Brazil’s two biggest trading partners. And he has refused to join Washington and Western Europe in backing Ukraine’s fight against Russia’s invasion, instead calling for a club of nations to mediate peace talks. After the International Criminal Court issued a warrant for Russian President Vladimir Putin’s arrest, Lula said he would review Brazil’s membership in the court.

Germany’s economy struggles (AP) For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports. Jobs were plentiful, the government’s financial coffers grew as other European countries drowned in debt, and books were written about what other countries could learn from Germany. No longer. Now, Germany is the world’s worst-performing major developed economy, with both the International Monetary Fund and European Union expecting it to shrink this year. It follows Russia’s invasion of Ukraine and the loss of Moscow’s cheap natural gas—an unprecedented shock to Germany’s energy-intensive industries, long the manufacturing powerhouse of Europe. Germany risks “deindustrialization” as high energy costs and government inaction on other chronic problems threaten to send new factories and high-paying jobs elsewhere, said Christian Kullmann, CEO of major German chemical company Evonik Industries AG.

Evidence Suggests Ukrainian Missile Caused Market Tragedy (NYT) The Sept. 6 missile strike on Kostiantynivka in eastern Ukraine was one of the deadliest in the country in months, killing at least 15 civilians and injuring more than 30 others. The weapon’s payload of metal fragments struck a market, piercing windows and walls and wounding some victims beyond recognition. Less than two hours later, President Volodymyr Zelensky blamed Russian “terrorists” for the attack, and many media outlets followed suit. Throughout its invasion of Ukraine, Russia has repeatedly and systematically attacked civilians and struck schools, markets and residences as a deliberate tactic to instill fear in the populace. But evidence collected and analyzed by The New York Times, including missile fragments, satellite imagery, witness accounts and social media posts, strongly suggests the catastrophic strike was the result of an errant Ukrainian air defense missile fired by a Buk launch system. Air defense experts say missiles like the one that hit the market can go off course for a variety of reasons.

In Moscow, the War Is Background Noise, but Ever-Present (NYT) Metro trains are running smoothly in Moscow, as usual, but getting around the city center by car has become more complicated, and annoying, because anti-drone radar interferes with navigation apps. Almost 19 months after Russia invaded Ukraine, Muscovites are experiencing dual realities: The war has faded into background noise, causing few major disruptions, and yet it remains ever-present in their daily lives. There is little anxiety among residents over the drone strikes that have hit Moscow this summer. No alarm sirens to warn of a possible attack. The city continues to grow. Cranes dot the skyline, and there are high-rise buildings going up all over town. But for some, the effects of war are landing harder. Nina, 79, a pensioner who was shopping at an Auchan supermarket in northwestern Moscow, said that she had stopped buying red meat entirely, and that she could almost never afford to buy a whole fish. Nina said that sanctions and ubiquitous construction projects were some reasons for higher prices, but the main reason, she said, was “because a lot is spent on war.”

India, Canada expel diplomats over accusations Delhi killed Sikh separatist (Washington Post) India expelled a Canadian diplomat on Tuesday in a tit-for-tat move after Canadian officials accused Indian government operatives of gunning down a Sikh separatist leader, Hardeep Singh Nijjar, in British Columbia and threw out an Indian diplomat they identified as an intelligence officer. Canadian Prime Minister Justin Trudeau’s allegation of assassination, made during an explosive speech before Parliament on Monday, sent relations between the two nations tumbling toward their lowest point but also held broader ramifications for ties between the U.S.-led alliance and India, which the Biden administration has assiduously courted as a strategic counterweight to China. The Indian government issued a statement Tuesday rejecting Trudeau’s accusation as “absurd and motivated.” India’s Foreign Ministry went on to say that the allegations “seek to shift the focus from Khalistani terrorists and extremists, who have been provided shelter in Canada and continue to threaten India’s sovereignty and territorial integrity. The inaction of the Canadian Government on this matter has been a long-standing and continuing concern.” (BBC) India has been increasing the pressure on countries with significant Sikh communities, like Canada, Australia and the UK, saying they are failing to tackle what it calls "Sikh extremism." Mr. Nijjar is the third prominent Sikh figure to have died unexpectedly in recent months.

Libya’s flood turmoil (Worldcrunch) Hundreds of protesters rallied in Libya’s Derna on Monday, setting fire to the house of the man who was the city’s mayor at the time of the flood, to demand accountability one week after a flood that killed thousands of residents. Meanwhile, the UN has warned that a disease outbreak could create “a second devastating crisis” as people are falling ill from contaminated water.

Crisis and Bailout: The Tortuous Cycle Stalking Nations in Debt (NYT) Emmanuel Cherry, the chief executive of an association of Ghanaian construction companies, sat in a cafe at the edge of Accra Children’s Park, near the derelict Ferris wheel and kiddie train, as he tallied up how much money government entities owe thousands of contractors. Before interest, he said, the back payments add up to 15 billion cedis, roughly $1.3 billion. “Most of the contractors are home,” Mr. Cherry said. Their workers have been laid off. Like many others in this West African country, the contractors have to wait in line for their money. Teacher trainees complain they are owed two months of back pay. Independent power producers that have warned of major blackouts are owed $1.58 billion. The government is essentially bankrupt. After defaulting on billions of dollars owed to foreign lenders in December, the administration of President Nana Akufo-Addo had no choice but to agree to a $3 billion loan from the lender of last resort, the International Monetary Fund. It was the 17th time Ghana has been compelled to turn to the fund since it gained independence in 1957. The tortuous cycle of crisis and bailout has plagued dozens of poor and middle-income countries throughout Africa, Latin America and Asia for decades.

Many of today’s unhealthy foods were brought to you by Big Tobacco (Washington Post) For decades, tobacco companies hooked people on cigarettes by making their products more addictive. Now, a new study suggests that tobacco companies may have used a similar strategy to hook people on processed foods. In the 1980s, tobacco giants Philip Morris and R.J. Reynolds acquired the major food companies Kraft, General Foods and Nabisco, allowing tobacco firms to dominate America’s food supply and reap billions in sales from popular brands such as Oreo cookies, Kraft Macaroni & Cheese and Lunchables. By the 2000s, the tobacco giants spun off their food companies and largely exited the food industry—but not before leaving a lasting legacy on the foods that we eat. The new research, published in the journal Addiction, focuses on the rise of “hyper-palatable” foods, which contain potent combinations of fat, sodium, sugar and other additives that can drive people to crave and overeat them. The Addiction study found that in the decades when the tobacco giants owned the world’s leading food companies, the foods that they sold were far more likely to be hyper-palatable than similar foods not owned by tobacco companies. In the past 30 years, hyper-palatable foods have spread rapidly into the food supply, coinciding with a surge in obesity and diet-related diseases. In America, the steepest increase in the prevalence of hyper-palatable foods occurred between 1988 and 2001—the era when Philip Morris and R.J. Reynolds owned the world’s leading food companies.

Danish artist told to repay museum €67,000 after turning in blank canvasses (BBC) A Danish artist has been ordered to return nearly 500,000 kroner ($72,000; £58,000) to a museum after giving it two blank canvasses for a project he named Take the Money and Run. The Kunsten Museum in Aalborg had intended for Jens Haaning to embed the banknotes in two pieces of art in 2021. Instead, he gave it blank canvasses and then told Danish media: "The work is that I have taken their money." A court has now ordered him to return the cash, minus 8% for expenses.

[sasiblogs]

A Simple Annual Compliance Guide for LLPs in India

Limited Liability Partnerships (LLPs) provide excellent flexibility, like a partnership with the advantages of limited liability. But as much as it is crucial to run operations and develop a business, fulfilling your legal requirements is just as crucial. Annual Compliance for LLP is defined as the range of legal filings and obligations that LLPs in India are required to complete each financial year to remain compliant with legislation.

Why Is Compliance Important?

Being compliant is not simply a matter of rule-following. It's about creating a transparent business, winning the trust of partners, banks, and investors, and dodging penalties that stifle growth. Non-compliance can result in significant fines and even the removal of partners in extreme cases.

Major Annual Compliances Every LLP Must Adhere To

The following is a summary of the main compliance activities that LLPs need to adhere to on an annual basis:

1. Filing Form 11 – Annual Return

Form 11 is the yearly return that gives a summary of LLP's partners, changes throughout the year, and general company details. This has to be filed with the Ministry of Corporate Affairs (MCA) by 30th May of each year.

2. Filing Form 8 – Statement of Account and Solvency

Form 8 is a statement of the financial position of the LLP, such as assets, liabilities, income, and expenses. It also includes a solvency statement of partners. This form should be filed by 30th October every year.

3. Filing of Income Tax Return

All LLPs, whether profit or turnover, have to file an Income Tax Return every year. If the turnover is more than ₹1 crore (for business) or ₹50 lakh (for professional services), a tax audit is obligatory under the Income Tax Act.

4. Partner KYC (DIR-3 KYC)

Each Designated Partner has to file their KYC every year to maintain their Director Identification Number (DIN) active. Failure to do so will result in DIN deactivation and late filing charges.

Consequences of Non-Compliance

Failure to comply with compliance requirements can lead to:

Fine of ₹100 per day per form

Legal notices from the ROC (Registrar of Companies)

Disqualification of specified partners

LLP being designated as inactive or even struck off

Benefits of Timely Compliance

Avoids legal fines and penalties

Keeps the LLP in an active state

Establishes credibility with banks and customers

Facilitates the raising of investments and loans

Keeps partners legally safe and stress-free

Getting Professional Help

Most LLPs prefer to hire legal and financial experts to manage their compliance. It is done with precision, on time, and with total peace of mind. Professionals handle the preparation of documents, filing of forms, and monitoring of due dates so the owners of a business can focus on operating their business.

Conclusion

In conclusion, Annual Compliance for LLP is an important task that each Limited Liability Partnership has to do. It safeguards your company from legal complications, establishes a good reputation, and keeps your firm active and compliant with the government. Keeping on top of these filings isn't just smart practice—it's necessary for long-term success.

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