Home Tags Posts tagged with "newsupdate"
Tag:

newsupdate

Parliament Monsoon Session

Parliament Monsoon Session 2025: Eight New Bills on the Agenda

The Monsoon Session of Parliament, commencing July 21 and running through August 21 (with a break for Raksha Bandhan and Independence Day), will see the government introduce eight new Bills designed to strengthen governance across diverse domains.

Key Bills to Watch

  • National Sports Governance Bill: Aims to overhaul the administration of sports bodies and promote transparency.
  • Geoheritage Sites and Geo-relics (Preservation & Maintenance) Bill: Focuses on safeguarding India’s unique geological and palaeontological heritage.
  • Mines and Minerals (Development & Regulation) Amendment Bill: Seeks to modernize mining regulation and streamline licensing.
  • National Anti‑Doping (Amendment) Bill: Introduces stricter compliance and testing protocols in sports.
  • Manipur Goods and Services Tax (Amendment) Bill: Aligns state GST structure for Manipur with central norms.
  • Jan Vishwas (Amendment of Provisions) Bill: Expands the ambit of ‘good faith’ protections and decriminalisation measures.
  • Indian Institute of Management (Amendment) Bill: Enhances autonomy and governance for IIMs.
  • Taxation Laws (Amendment) Bill: Includes updates on income tax, corporate tax, and dispute resolution mechanisms.

Additionally, the Income Tax Bill, 2025, previously introduced in February and reviewed by a Select Committee, is scheduled for presentation in the Lok Sabha on July 21.

Other Key Business

  • Seeking approval to extend President’s Rule in Manipur, along with the Demand for Grants for the state.
  • Pending Lok Sabha bills include the Readjustment of ST Representation in Goa, the Merchant Shipping Bill, 2024, and the Indian Ports Bill, 2025.

Anticipated Parliamentary Flashpoints

  • Electoral rolls revision in Bihar via Special Intensive Revision (SIR) by the Election Commission.
  • Opposition queries linked to Operation Sindoor and Trump’s claims of preventing nuclear war between India and Pakistan could lead to sharp political exchanges.

0 comment
0 FacebookTwitterPinterestEmail
Chess

India’s chess sensation, R Praggnanandhaa, delivered a remarkable blow to World No.1 Magnus Carlsen at the Freestyle Chess Grand Slam Tour in Las Vegas. In a high-voltage Round 4 group stage match, the 19-year-old Grandmaster stunned the five-time world champion with a win in just 39 moves.

This isn’t the first time Carlsen has faced setbacks from Indian prodigies. He recently endured back-to-back defeats against India’s world champion D Gukesh, and now Praggnanandhaa has joined the elite list of challengers who have managed to defeat the chess titan. With this win, Praggnanandhaa becomes one of the few players to have beaten Carlsen in all three formatsClassical, Rapid, and Blitz.

As the match concluded, the commentator exclaimed, “Magnus about to resign… and he does!”, capturing the shock felt across the chess world.

Tournament Highlights
Praggnanandhaa’s Las Vegas campaign began with a draw against Abdusattorov, followed by a victory over Assaubayeva, and a win against Keymer while holding Black. His fourth-round win against Carlsen solidified his dominance and placed him joint-top of Group White with 4.5 points alongside Nodirbek Abdusattorov and Javokhir Sindarov.

Carlsen, on the other hand, started strong with two early wins but faltered against Praggnanandhaa and Wesley So. Draws in other rounds left him in a precarious spot, needing a final-round win to enter the playoffs. Although he beat Assaubayeva, Carlsen lost both playoff games to Levon Aronian, finishing shared fourth and dropping into the lower bracket – his bid for the Las Vegas title crushed.

Group Standings and Advancements
The tournament format featured two eight-player round-robin groups – White and Black – with the top four from each moving into the upper bracket. The bottom four are relegated to the placement bracket, where they compete only for final rankings and prize money.

In the Black Group, Hikaru Nakamura reigned supreme with 6/7, while Hans Niemann, Fabiano Caruana, and Arjun Erigaisi also advanced. Niemann had a blazing start, while Caruana made a dramatic leap with a win over Niemann in the final round after drawing six consecutive games.

Knockout Stage and Prize Battle
With the knockout stage underway, 16 players now vie for supremacy. Notably, Carlsen and Keymer must battle from the lower bracket, while others edge closer to the $200,000 first prize.

Upcoming Quarterfinals
The quarterfinals are slated for Thursday, after which upper-bracket losers will descend to the lower bracket. The winners will continue their journey toward the championship glory and the massive cash reward.

0 comment
1 FacebookTwitterPinterestEmail
Trump

Amid growing public pressure and frustration from his base, President Donald Trump has announced that he will not recommend the appointment of a special prosecutor in the Jeffrey Epstein case. Epstein, the disgraced financier accused of sex-trafficking minors, died by suicide in 2019 while in federal custody. The renewed scrutiny of Epstein’s connections to high-profile figures has sparked demands for transparency—demands that Trump now appears unwilling to meet through additional legal measures.

White House Confirms No Special Prosecutor
On Thursday, July 17, 2025, White House Press Secretary Karoline Leavitt confirmed the administration’s position.
“The president would not recommend a special prosecutor in the Epstein case. That’s how he feels,” she told reporters.

Leavitt added that President Trump had already instructed Attorney General Pam Bondi and the Justice Department to conduct an “exhaustive review of all files.” She dismissed the calls for deeper inquiry as politically motivated and criticized Democrats for failing to act during their own time in office.

Epstein’s Death and Legal History
Jeffrey Epstein was arrested in 2019 on federal charges of sex-trafficking minors. He pleaded not guilty but died by suicide in jail before trial. His death led to the dismissal of the case and has since fueled widespread speculation and conspiracy theories, particularly regarding the potential involvement of high-profile individuals.

Reversal on Document Release Sparks Backlash
Public attention was reignited last week when the Trump administration reversed a prior commitment to release documents related to Epstein and his alleged associates. Many of Trump’s supporters expressed outrage over the reversal, believing the documents would expose corruption and abuse among the elite.

Trump Responds to Criticism From His Base
Reacting to criticism from within his own supporter base, President Trump lashed out on Truth Social:
“Let these weaklings continue forward and do the Democrats work, don’t even think about talking of our incredible and unprecedented success, because I don’t want their support anymore!”

Later, speaking to reporters, Trump gave Attorney General Pam Bondi discretionary authority over any forthcoming information.
“Whatever’s credible, she can release. I think it’s good,” he stated, signaling a limited willingness to disclose information based on DOJ discretion.

Conclusion:
President Trump’s decision to block the appointment of a special prosecutor in the Epstein case underscores a broader attempt to control the narrative amid renewed public scrutiny. While the Justice Department’s internal review continues, many Americans remain unconvinced that full transparency will be achieved without independent oversight.

0 comment
0 FacebookTwitterPinterestEmail
US

In a narrow 51-48 vote, the US Senate has approved a controversial $9 billion rescissions package aimed at slashing funds previously authorized by Congress. The bill targets foreign aid and public broadcasting, marking a significant step in the Trump administration’s broader fiscal tightening agenda. This decision has sparked bipartisan debate over its potential implications for global health programs and rural media infrastructure.

What Is the Rescissions Package?
The rescissions package is a legislative tool that allows Congress to revoke previously approved funding. This $9 billion rollback is part of ongoing efforts by the Republican-led Senate to curtail federal spending and deliver on President Donald Trump’s commitment to reducing the fiscal deficit.

The bill now returns to the House of Representatives, which earlier passed a slightly different version with $9.4 billion in proposed cuts.

Foreign Aid and Global Health Impacted
A significant portion of the cuts—around $8 billion—will come from international assistance, including funding for global health initiatives under the US Agency for International Development (USAID).
Initially, the House version proposed eliminating $400 million from Pepfar, the US’s global HIV/AIDS program. However, after substantial pushback, a Senate amendment preserved this funding. Despite this, many other global aid programs remain on the chopping block.

Cuts to Public Broadcasting Raise Concerns
More than $1 billion will be slashed from the Corporation for Public Broadcasting, which funds radio and television services nationwide. Critics argue these cuts will disproportionately affect rural communities, where public radio stations often serve as vital sources of information.
Senator Lisa Murkowski of Alaska was among the few Republicans opposing the bill, citing concerns about its impact on public broadcasting in remote regions.

Partisan Divide and Political Repercussions
The vote took place during an intense overnight session known as a “vote-a-rama,” highlighting deep divisions within Congress.
While Republicans see the package as a long-overdue measure to rein in government spending, Democrats and some moderate Republicans argue it undermines critical services at home and abroad.

Senate Majority Leader John Thune defended the move, calling it “a small but important step toward fiscal sanity.” Meanwhile, House Speaker Mike Johnson expressed frustration that the Senate version altered their original proposal, stating: “We wanted them to pass it unaltered like we did.”

What Happens Next?
The rescissions package now returns to the House for reconciliation. Both chambers must agree on a final version before Friday, or the bill will expire—eliminating the Republicans’ window to implement these cuts. The outcome remains uncertain as lawmakers negotiate the final contours of the legislation.

The Senate’s approval of the $9 billion spending cuts reflects growing urgency within Republican ranks to address rising federal expenditures. However, with vital programs in public health and broadcasting on the line, the bill’s final fate will depend on intense negotiations in the House over the next 48 hours.

0 comment
0 FacebookTwitterPinterestEmail
World Environment Council

New Delhi, India | 16th July 2025 In a historic move toward redefining sustainability leadership and global environmental strategy, the World Environment Council (WEC) officially launched the WEC Sustainability Ecosystem Framework (WEC-SEF™)—a pioneering model designed to equip organizations, institutions, and governments across the globe to embed sustainability into their core operations.

Conceived and invented by Prof. Ganesh Prakash Channa, Founder and President of WEC, the framework was unveiled in July 2025 as a holistic response to growing climate, ESG, and governance challenges. The WEC-SEF is set to become a global blueprint for green transformation.

What is WEC-SEF™?

The WEC Sustainability Ecosystem Framework (WEC-SEF™) is a globally adaptable, multi-dimensional sustainability model that guides organizations, educational institutions, municipalities, NGOs, and businesses in aligning their environmental and governance strategies with UN SDGs, ESG regulations, and Net Zero goals.

WEC-SEF is structured around five key pillars: Education, Environment, Ethics, Governance, and Social Responsibility, making it one of the most inclusive and practical sustainability frameworks of its kind. It emphasizes real-world implementation and actionable ESG integration, moving beyond compliance to long-term climate resilience.

🎯 Purpose & Vision

WEC-SEF™ was built to:

  • Enable responsible environmental governance through measurable, actionable practices
  • Standardize ESG and sustainability reporting under one cohesive framework
  • Support global entities in their transition to Net Zero and alignment with SDGs
  • Foster a culture of data-backed decision-making and grassroots impact

Speaking on the launch, Prof. Ganesh Channa remarked:

“Sustainability cannot be an isolated goal. It must flow through systems, decisions, education, and innovation. WEC-SEF™ is the bridge between purpose and practice.”

Why WEC-SEF™ Matters

In a time of growing regulatory pressure and climate urgency, WEC-SEF offers:

  • A unified model for corporates, governments, and institutions
  • Alignment with ESG standards including GRI, SASB, BRSR, TCFD, ISSB, CDP
  • Customizability across industries – from agriculture and IT to education and infrastructure
  • A focus on transparency, community engagement, and localized relevance
  • A structured path from policy to measurable environmental outcomes

Key Benefits of Adopting WEC-SEF™

  1. Global Alignment: Enables ESG credibility and international reporting readiness
  2. Practical Tools: Templates, audit checklists, dashboards, and survey kits for easy rollout
  3. Scalable Use: Applicable across small, medium, and large organizations globally
  4. Performance Assessment: Measures sustainability maturity across five dimensions
  5. Local Adaptability: Adjusts to country-specific regulatory and cultural contexts

WEC-SEF™ Certification Program

Organizations adopting the framework can receive WEC-SEF Certification™, including:

  • Digital Blockchain-Verified Certificate via TruScholar
  • WEC-SEF Trust Mark for use in reports, websites, and communication
  • Recognition in WEC Global Impact Reports & International Forums
  • Eligibility to host and speak at ESG & sustainability conclaves

Global Roadmap Ahead

The WEC plans to roll out the SEF framework across 30+ countries, partnering with universities, government departments, and ESG consultants to create a global ecosystem of certified sustainable entities.

The Council will also offer training programs and certification courses under WEC-SEF for:

  • ESG Professionals
  • Municipal Green Officers
  • Academic Institutions
  • Corporate Sustainability Leads

For organizations aiming to measure, manage, and scale their environmental commitment, WEC-SEF™ is the next-generation sustainability blueprint—practical, customizable, and globally credible.

📬 For Certification & Partnership Inquiries:

📧 Email: co*****@*****rg.in
🌐 Website: www.wec.org.in
📞 +91-9822949285

Issued by:
World Environment Council (WEC)
New Delhi, India – Global Secretariat

0 comment
0 FacebookTwitterPinterestEmail

The fatal crash of an Air India Boeing 787-8 in June has reignited a long-standing question in global aviation: why are cockpit video recorders still missing from commercial aircraft? While black boxes already contain voice and flight data recorders, the absence of cockpit video footage leaves crucial gaps in understanding crash events. With demands mounting in India and abroad, the debate over privacy versus safety resurfaces once again.

Crash Sparks Renewed Questions About Cockpit Cameras
A key moment captured by the cockpit voice recorder revealed a conversation between the pilots just before the Air India crash—one denying having cut off fuel, the other questioning the same action. The lack of video evidence from the cockpit has stirred global calls for reform, as video footage could have clarified pilot actions during the final moments of the flight.

Despite black boxes being recovered and audio transcripts published, the preliminary report left several unanswered questions. Many argue that a cockpit video recorder could have provided essential visual context to supplement voice recordings and sensor data.

Why Don’t Commercial Planes Have Cockpit Video Recorders?
The idea of cockpit cameras is not new. The US National Transportation Safety Board (NTSB) has advocated for cockpit video recorders since 1989, following an incident involving a premature descent in a Boeing 737. Despite recurring recommendations, the US Congress and Federal Aviation Administration (FAA) have refrained from mandating them—largely due to opposition from powerful pilot unions.

Pilot Resistance: Privacy and Operational Concerns
Pilots, particularly in the US, have strongly resisted cockpit cameras, citing privacy concerns and fears of misuse. They argue that being recorded in high-stress situations could alter their behavior, stifle communication between junior and senior crew, and even expose them to disciplinary actions or public scrutiny.

Many pilots worry that cockpit video footage might be leaked or misconstrued, further complicating investigations rather than helping them. “A single camera frame could be misinterpreted without proper context,” warned Doug Moss, former test pilot and investigator.

Global Comparison and Emerging Trends
While the FAA prohibits cockpit video recording, the European Union Aviation Safety Agency (EASA) imposes no such ban. China is reportedly planning to incorporate cockpit video surveillance in domestically built aircraft like the COMAC C919. Several helicopter manufacturers already equip their models with cockpit video systems, especially for training and safety monitoring.

Despite privacy arguments, many aviation platforms—including Flightradar24 and Just Planes—regularly share hours of cockpit footage filmed with pilot consent, raising questions about inconsistent standards.

Public and Legal Demands Rise After Air India Tragedy
In the wake of the Air India crash, voices from legal, academic, and aviation circles have demanded legislative action. “If yellow school buses can have cameras, airline cockpits should too,” said Brooklyn Law School professor David Greenfield.

Lawyers, aviation analysts, and concerned citizens alike have called for cockpit video recorders to ensure fair investigations and protect both passengers and pilots. The Airline Pilots’ Association of India (ALPA-India), however, objected to the early direction of the investigation and raised concerns over pilot vilification without conclusive evidence.

Balancing Safety and Privacy: The Central Debate
The controversy around cockpit cameras ultimately boils down to a safety-privacy tradeoff. Proponents argue that visual data enhances transparency, bolsters investigations, and prevents misinformation. Critics insist that cameras could lead to over-surveillance and harm crew morale.

Ironically, cockpit voice recorders—now a critical investigation tool—also faced initial opposition from pilots. The shift in perception came only after their undeniable value in crash analysis became evident. Cockpit video recorders may eventually follow a similar trajectory as safety imperatives grow stronger.


The Air India crash has catalyzed a global reevaluation of cockpit safety protocols. With evolving technology, increasing public demand, and rising expectations for transparency, the call for cockpit video recorders may soon reach a tipping point. Whether privacy concerns can be balanced with safety needs remains a critical question for aviation regulators worldwide.


For more updates on aviation safety, policy debates, and crash investigations, follow The Parliament News—your definitive source for critical current affairs and expert insights.

0 comment
0 FacebookTwitterPinterestEmail
Nifty , Sensex

The Indian stock market has witnessed a sharp correction, with the Sensex falling over 1,400 points in just four trading sessions. The benchmark Nifty 50 also slipped below the critical 25,100 mark, raising investor concerns about market stability. This decline, though, contrasts with gains in the mid- and small-cap segments. What’s driving this downturn? Here’s a detailed analysis of the key factors behind the current market weakness.

1. Trade War Fears and US Tariff Moves
The resurgence of global trade tensions is weighing heavily on Indian markets. US President Donald Trump’s aggressive stance on tariffs—imposing 35% on Canadian imports and 30% on goods from Mexico and the European Union—has stoked fears of a prolonged trade war.
Although reports suggest an interim trade deal with India could lower proposed tariffs to below 20%, the uncertainty continues to pressure market sentiment.
“The market is expecting a US-India trade deal soon… Any disappointment on this front can drag the market further down,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.

2. Shift in Investor Focus to Mid and Small-Caps
While large-cap indices have declined, the BSE Midcap and Smallcap indices posted gains of 0.67% and 0.57% respectively.
Experts attribute this divergence to a surge in retail investor interest in mid- and small-cap stocks, driven by their potential for stronger earnings recovery.
“With over 4,000 small- and mid-cap stocks, investors have a wide universe to explore,” noted G. Chokkalingam of Equinomics.
India’s retail investor base now exceeds 22 crore, with nearly six lakh new investors added each week—fueling sustained demand in the broader markets.

3. Foreign Portfolio Investor (FPI) Outflows
After four consecutive months of net buying, foreign portfolio investors have turned sellers in July.
So far, FPIs have sold over ₹10,000 crore worth of Indian equities, primarily affecting large-cap stocks where they hold significant ownership.
This capital flight is contributing to the sustained pressure on benchmark indices.

4. Stretched Valuations and Earnings Uncertainty
With Q1 earnings around the corner, concerns over high valuations are becoming more pronounced.
The Nifty 50’s price-to-earnings ratio currently stands at 22.6—above its one-year average of 22.2—indicating limited room for error in earnings performance.
Material earnings recovery is expected only after the September quarter, leaving markets vulnerable to short-term volatility.

5. Technical Indicators Signal Continued Weakness
Technical analysis suggests that the benchmarks may see further downside unless key levels are breached.
“As long as the market remains below 25,350/83,200, the sentiment will remain weak,” said Shrikant Chouhan of Kotak Securities.
LKP Securities’ Rupak De added that the Nifty 50’s intraday slip towards 25,000 puts it close to its 50-day moving average, with strong support at 24,900–24,950. Failure to hold this level could prompt deeper corrections towards 24,800 or even 24,700.

The recent decline in India’s stock market is the result of multiple interlinked factors—global trade concerns, capital outflows, valuation fears, and technical resistance levels. However, resilience in mid- and small-cap segments and retail investor optimism offer a silver lining. For now, market participants must brace for continued volatility while watching global developments and domestic earnings closely.

0 comment
0 FacebookTwitterPinterestEmail
JioPC

JioPC: Mukesh Ambani’s Ambitious Plan to Turn Indian TVs into Virtual Desktops

Jio Platforms, the digital arm of Reliance Industries, has rolled out JioPC, a cloud-based virtual desktop service that turns ordinary televisions into personal computers using the company’s set-top box. The service is currently in free trial and accessible via waitlist.

This bold initiative from Mukesh Ambani, India’s richest man, aims to leverage India’s vast TV ownership and bridge the digital divide by giving users access to PC-like functionality without the need for costly hardware.

What is JioPC?

  • A cloud-powered virtual desktop accessible via Jio’s set-top box
  • Users plug in a keyboard and mouse to their TVs to use it
  • Comes bundled with JioFiber broadband plans or available standalone for ₹5,499 (~$64)
  • Features LibreOffice pre-installed, with Microsoft Office accessible via browser
  • External peripherals like webcams and printers not currently supported

The Opportunity: TV-Rich, PC-Poor India

  • 70% of Indian households have a television
  • Only 15% of households own a personal computer
  • India’s PC penetration remains low, largely due to affordability issues
  • The market is dominated by smartphones as the primary digital device

“JioPC is a very effective way to grow Jio’s user base and bridge the PC access gap,” says Tarun Pathak, Research Director at Counterpoint.

JioPC’s Strategic Advantages

  • Reaches underpenetrated rural and low-income segments
  • Lowers the barrier to entry for PC functionality
  • Taps into 57 million active set-top box users across India
  • Could become a game-changer for remote learning, digital literacy, and productivity
  • Supported by India’s growing digital ecosystem and expanding broadband access

Challenges and Considerations

  1. Consumer Awareness:
    Convincing users that a TV can act as a PC using only a set-top box will require aggressive marketing.
  2. Connectivity Gaps:
    Poor or unreliable internet in rural areas could limit adoption.
  3. Digital Literacy:
    A key hurdle for widespread use, especially in low-income households.
  4. Lack of App Ecosystem:
    Needs partnerships with app developers, ed-tech, and productivity providers to enhance the user experience.

“Its success will depend on execution, scalability, and value-added apps,” notes Prabhu Ram, VP, CyberMedia Research.

JioPC in Context: Market Trends

  • India’s PC market grew 8% YoY in Q1, reaching 3.3 million units (IDC)
  • But PC penetration lags behind the US and China
  • Traditional DTH TV market is shrinking, creating room for smart set-top innovations
  • JioPC is among the first serious consumer-focused virtual desktop services, unlike Microsoft and AWS, which target enterprises

A Disruptive Bet on India’s Digital Future

JioPC is not just a tech product — it’s a digital inclusion strategy. Mukesh Ambani aims to unlock PC-like functionality for millions, especially students, gig workers, and small business owners who lack access to expensive computing devices.

If successful, JioPC could redefine how Indians access digital services, marking a paradigm shift in the country’s PC landscape.

0 comment
0 FacebookTwitterPinterestEmail
stock market

Markets Open Lower on July 11 as IT Stocks Weigh Down Sentiment Post-TCS Earnings

Benchmark Indian equity indices Sensex and Nifty opened lower on Friday, July 11, 2025, dragged down by IT sector weakness following the Q1 FY26 earnings report of Tata Consultancy Services (TCS).

  • BSE Sensex dropped 398.45 points to 82,791.83
  • NSE Nifty declined 111.25 points to 25,244

TCS Drags Down IT Pack After Muted Revenue Growth

Tata Consultancy Services (TCS), India’s largest IT services company, reported:

  • 6% YoY net profit growth to ₹12,760 crore
  • Revenue at ₹63,437 crore, up just 1.3%, but down over 3% in constant currency terms
  • Stock slipped ~2% after the results

The company’s performance was impacted by geopolitical tensions, soft demand in key markets, and the conclusion of the BSNL deal, which had previously supported earnings.

Expert Take:

“Q1 results of TCS indicate continuing struggle for large-cap IT. However, midcap IT may do well going forward,” said VK Vijayakumar, Chief Investment Strategist, Geojit.

Top Losers and Gainers

Losers (Sensex):

  • TCS
  • Infosys
  • Tech Mahindra
  • HCL Tech
  • Mahindra & Mahindra
  • Bajaj Finserv

Gainers:

  • Hindustan Unilever
  • Axis Bank
  • NTPC
  • Asian Paints

Market Commentary: Broader Outlook Cautious

Prashanth Tapse, Senior VP (Research) at Mehta Equities, said:

“TCS beat estimates with a 6% profit rise, but demand contraction due to global uncertainties and hawkish Fed tones could keep Nifty bulls under pressure. Trump’s trade tariff rhetoric also weighs on sentiment.”

Global Markets Snapshot

  • Asia:
    • Kospi (South Korea) – Positive
    • Nikkei 225 (Japan) – Positive
    • SSE Composite (Shanghai) – Positive
    • Hang Seng (Hong Kong) – Positive
  • US Markets:
    • Ended positive on Thursday (July 10, 2025)
  • Oil Prices:
    • Brent Crude up 0.35% to $68.88 per barrel
  • Foreign Institutional Investment:
    • FIIs bought ₹221.06 crore worth of Indian equities on July 10

Recap: Previous Session (July 10, 2025)

  • Sensex: Closed down 345.80 points at 83,190.28
  • Nifty: Fell 120.85 points to 25,355.25

Key Takeaways

  • Large-cap IT continues to face challenges despite earnings beats.
  • Midcap IT may emerge stronger amid sector divergence.
  • Broader markets are cautious due to Fed policy tone and global tensions.
  • Investors are advised to track IT earnings closely, along with global economic cues.

0 comment
0 FacebookTwitterPinterestEmail
UAE Golden VISA

In a major clarification, Dubai-based Rayad Group has publicly apologised for its earlier claims that Indians could obtain a lifetime UAE Golden Visa by paying ₹23.3 lakh (AED 100,000) — a statement the UAE government has now officially denounced as false and misleading.

What Happened?

  • Earlier Claim: Rayad Group’s Managing Director, Rayad Kamal Ayub, suggested in multiple media reports (including PTI) that UAE was offering lifetime Golden Visas to Indians under a simplified nomination-based process.
  • Now Retracted: The company admits these statements were inaccurate and not coordinated with the UAE government. The ₹23.3 lakh cited was merely Rayad’s service fee, not an official visa fee, and no such lifetime Golden Visa scheme exists.

Official UAE Government Response

The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) issued a stern statement:

“These claims have no legal basis and were made without coordination with the relevant authorities in the UAE.”

  • The ICP confirmed:
    • No lifetime Golden Visa exists.
    • All visa applications must go through official UAE government channels.
    • No third-party agency can guarantee or issue UAE Golden Visas.
    • Legal action will be taken against any fraudulent or misleading parties.

Rayad Group’s Full Apology

Rayad Group, in a statement to Khaleej Times, said:

“We apologise unreservedly for the public confusion… and take full responsibility for ensuring future communications are clear and accurate.”

They have also withdrawn from offering any private Golden Visa advisory services, acknowledging that previous public comments by the MD were misplaced.

Expert Opinion: A Scam Targeting Indian Aspirants

Immigration attorney Prashant Ajmera called the offer “fake,” stating:

“Such schemes are often created to scam Indians who aspire to live abroad — especially in destinations like the UAE.”

What You Should Know About the Real Golden Visa

  • The UAE Golden Visa does exist but is:
    • Valid for 5 or 10 years, not a lifetime.
    • Requires specific eligibility (high investment, business ownership, professionals, etc.).
    • Processed only through official UAE portals, such as ICP or the Federal Authority.
0 comment
0 FacebookTwitterPinterestEmail

Our News Portal

We provide accurate, balanced, and impartial coverage of national and international affairs, focusing on the activities and developments within the parliament and its surrounding political landscape. We aim to foster informed public discourse and promote transparency in governance through our news articles, features, and opinion pieces.

Newsletter

Laest News

@2023 – All Right Reserved. Designed and Developed by The Parliament News

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00