REPUBLIC DAY CELEBRATIONS: COUNTRY SHOWCASES MILITARY MIGHT, CULTURAL HERITAGE

India's military prowess infused with a spirit of "aatmanirbharta" and diverse and vibrant cultural heritage were showcased on the Kartavya Path as the nation celebrated its 74th Republic Day on Thursday.

‘Nari Shakti’ was predominantly the theme of the celebrations with President Droupadi Murmu, Prime Minister Narendra Modi and a host of other dignitaries joining people and members of the armed forces in marking the august occasion.

Egypt's President Abdel Fattah al-Sisi was the chief guest at the ceremonial event.

A combined band and marching contingent of the Egyptian Armed Forces also took part in the parade that started at around 10.30am and ended close to noon after a fly-past.

The ceremony commenced with Prime Minister Narendra Modi visiting the National War Memorial and paying tributes to the fallen heroes by laying a wreath.

According to tradition, the national flag was unfurled followed by the national anthem with a booming 21-gun salute. The ceremonial salute this year was given with 105-mm Indian field guns, which replaced the vintage 25-pounder guns, reflecting upon the growing "aatmanirbharta" in defence.

Shallow fog lowered visibility at the Kartavya Path on Thursday as spectators strained their eyes to watch aerial manoeuvres by a battery of 50 aircraft that flew in different formations.

The main battle tank Arjun, the Nag Missile System and the K-9 Vajra were also showcased.

With 'Nari Shakti' being the theme, both the Navy and the IAF contingents were led by women officers – Lt Cdr Disha Amrith and Sqn Ldr Sindhu Reddy respectively. Another woman Army air defence officer, Lt Chetana Sharma, led the Akash missile system column.

The Assam Rifles marching contingent had an equal number of men and women personnel. The CRPF had an all-women contingent led by Assistant Commandant Poonam Gupta.

The marching contingents from the Army included one each from the mechanised infantry, the Dogra Regiment, the Punjab Regiment, the Maratha Light Infantry, the Bihar Regiment and the Gorkha Brigade. A camel band from the BSF also took part in the parade.

The Republic Day celebrations were held on the revamped Central Vista avenue and were the first at the ceremonial boulevard after Rajpath was renamed Kartavya Path last year.

EGYPT REACHES OUT TO INDIA FOR ECONOMY BOOST

With Egypt battling a serious economic crisis, Egyptian President Abdel Fattah El-Sisi, who was the chief guest at the Republic Day parade Thursday, has reached out to India for investments and participation in mega infrastructure projects in his country.

Media reports say this was one of the consistent themes of discussion between the Egyptian side and the Indian leadership over the past two days, including with Prime Minister Narendra Modi. These discussions took place at a time when China’s economic ties to Egypt have been growing over the years.

This push was also reflected in the joint statement issued by both sides, saying that both leaders welcomed the expansion of Indian investments in Egypt, which is currently more than $3.15 billion. They agreed to encourage businesses from their respective countries to explore emerging economic and investment opportunities in each other’s countries, it said.

“Egypt welcomes the flow of more Indian investments and promises to offer incentives and facilities as per applicable regulations and frameworks. On its part, India underlines its support for this approach by encouraging its companies, which have the potential to establish overseas investments, to make use of the available investment opportunities in Egypt,” it said.

Meanwhile, during his meetings in Delhi with Indian leaders, including External Affairs Minister S Jaishankar and President Droupadi Murmu, and the business community, Sisi stressed on Egypt’s keenness to develop economic and trade cooperation with Indian companies, as well as joint investments.

Although Egypt has not asked for budgetary support, the big projects that were highlighted include Metro projects in Cairo and Alexandria, the Suez Canal economic zone, the second channel of Suez Canal, and a new administrative capital in Cairo’s suburbs.

NO BACKCHANNEL TALKS BETWEEN PAKISTAN AND INDIA: HINA RABBANI KHAR

Pakistan said on Thursday that no backchannel talks were being held between Islamabad and New Delhi. “At this moment, there is no such thing under way,” Minister of State for Foreign Affairs Hina Rabbani Khar told the Senate - the upper house of parliament.

Separately, Foreign Office Spokesperson Mumtaz Zahra Baloch at the weekly media briefing reiterated Khar’s remarks about no secret diplomatic engagements with India. “There is no backchannel diplomacy between India and Pakistan,” Baloch said.

Speaking in the Senate, Khar went on to say that Pakistan had always taken initiatives to promote peace in the region but “right now, the cross-border hostility [from India] is of a unique type”. She said Pakistan was asked at international forums sometimes to normalise its ties with India, but the world should look at the messages New Delhi was sending to Islamabad.

Her remarks came days after Indian media reported that New Delhi has invited Foreign Minister Bilawal Bhutto Zardari and Chief Justice of Pakistan Umar Ata Bandial to attend the foreign ministers’ and chief justices’ meetings of the Shanghai Cooperation Organisation or SCO in Goa in May.

Baloch in her briefing said that Pakistan had received the invitation and was reviewing it.

MANDAVIYA UNVEILS WORLD’S FIRST INTRANASAL COVID VACCINE ‘INCOVACC’

Union Health Minister Mansukh Mandaviya on Thursday unveiled the world’s first intranasal Covid vaccine iNCOVACC and said it marks a “glorious tribute to the call for Atmanirbhar Bharat”.

The Union health ministry said the roll-out of iNCOVACC is expected to begin in private hospitals which have placed advance orders for the same. 

Although the initial manufacturing capacity of several million doses per annum has been established, it can be scaled up to a billion doses as required. iNCOVACC is priced at Rs 325 per dose for large volume procurement by state govts and the Govt of India.

Developed by Bharat Biotech, iNCOVACC is the world’s first intranasal COVID-19 vaccine to receive approval for the primary two-dose schedule, and as a heterologous booster dose for adults. 

The company, in a statement, said the vaccine is now available on CoWIN, and priced at Rs 800 for private markets and Rs 325 for supplies to the central and state govts.

Expressing his elation at the event, Mandaviya said over 65 per cent of vaccines supplied in the world are from India.   

INTERNATIONAL AFFAIRS

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TANK PROMISES PROOF OF WEST’S DIRECT ROLE IN UKRAINE: RUSSIA

Russia said on Thursday it saw the promised delivery of Western tanks to Ukraine as evidence of direct and growing US and European involvement in the conflict. The Kremlin was reacting for the first time to announcements by the US and Germany on Wednesday that they would arm Ukraine with dozens of battle tanks in its fight against Russia. “There are constant statements from European capitals and Washington that the sending of various weapons systems to Ukraine, including tanks, in no way signifies the involvement of these countries or the alliance in hostilities in Ukraine,” Kremlin spokesman Dmitry Peskov said.

“We categorically disagree with this, and in Moscow, everything that the alliance and the capitals I mentioned are doing is seen as direct involvement in the conflict. We see that this is growing. ” But the Kremlin insisted that the new armour won’t stop Russia from achieving its goals in Ukraine. “The potential it gives to the Ukrainian armed forces is clearly exaggerated,” Peskov said. “Those tanks will burn just like any others. ”

SWEDEN COMPLICIT IN HATE CRIME, NATO TALKS ARE POINTLESS: TURKIYE

Turkiye’s foreign minister on Thursday accused Sweden of being complicit in a “hate and racist crime” for failing to prevent weekend protests in Stockholm by an anti-Islam and pro-Kurdish groups. Mevlut Cavusoglu also confirmed that a meet in Brussels to discuss Sweden and Finland’s Nato membership has been postponed, saying such a meet would have been “meaningless” in the wake of the rallies. Turkiye has been infuriated by a Quran-burning protest by an anti-Islam activist on Saturday.

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TRIPURA: TALKS WITH TIPRA MOTHA IN STALEMATE, BJP LIKELY TO GO ALONE

The BJP is coming around to the idea that it might not reach an alliance with the TIPRA Morcha in Tripura, with the regional tribal outfit reiterating that it would not tie up with any party without a written assurance on Greater Tipraland.

While Motha leaders held talks with the Centre on the statehood demand Wednesday, the BJP has begun discussions to finalise its candidates for the Assembly polls due next month.

Despite alliance progress being stalled, BJP leaders expressed confidence about the party’s prospects, saying that while the Motha’s influence was confined to seven-odd Assembly seats, the CPI(M) and Congress tie-up was headed into rough weather.

TIPRA Motha chief Pradyot Kishore Manikya Debbarma, who along with his party leaders had a discussion with Union Home Ministry officials, said: “We spoke about our problems, and explained why there is a demand. The officials, led by A K Mishra (Adviser to the Home Ministry on Northeastern Affairs), heard us. Now, the govt has to get back to us. Only if it gives us (its assurance) in writing, will we accept it.”

Sources in the BJP pointed out that it was impossible for the party to do so, given that it could trigger similar statehood demands across the Northeast.

‘OPEN TO IDEA OF SELF-REGULATORY BODY TO CERTIFY TRUSTED FACT-CHECKERS’

The Centre is open to the idea of a self-regulatory body that can certify “trusted” fact-checkers to identify online misinformation, and it is not trying to “retrofit a particular organisation” into the process, Minister of State for Electronics and IT Rajeev Chandrasekhar said yesterday.

The Ministry of Electronics and IT’s (MeitY’s) latest proposal to empower the Press Information Bureau (PIB) fact-checking unit to police “fake news” on social media platforms and other digital services stemmed from the fact that a “large number” of social media platforms have asked the Centre to create a “standard framework” for fact-checkers, Chandrasekhar said.

The measure, proposed under the latest changes to the Information Technology Rules, 2021, has drawn criticism from a wide range of stakeholders, including from civil society organisations to associations representing media companies and journalists.

“We are stressing the principle that platforms have asked for, and we believe it is necessary to have some way of creating trusted fact-checkers in the system to help in the issue of online misinformation,” Chandrasekhar said. “During the consultation process, if somebody shows that they have a self regulatory model that will, in a sense, certify trusted fact-checkers, we are happy to have that.”

IF ADANI GROUP FILES LAWSUIT, WE WILL DEMAND COMPANY DOCUMENTS: HINDENBURG

The Adani Group on Thursday said it’s planning to sue Hindenburg Research which came out with a “maliciously mischievous” report alleging “brazen stock manipulation and accounting fraud scheme” over the course of decades by the group.

“We are evaluating the relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg Research,”  an Adani group spokesperson said in a statement.

Responding to the group’s legal threat, the US firm said it stands by its report and believes that any legal action taken against it would be ‘meritless’.

“If Adani is serious, it should also file suit in the US where we operate. We have a long list of documents we would demand in a legal discovery process,” Hindenburg Research said on Twitter.

“At the conclusion of our report, we asked 88 straight forward questions that we believe give the company a chance to be transparent. Thus far, Adani has answered none of these questions,” it said. “Instead, as expected, Adani has resorted to bluster and threats.

On Wednesday, shares of Adani group companies came under heavy selling pressure on the stock exchanges after the Hindenburg Research report came out. Adani group shares fell by up to 8 per cent.

ABOUT BIG TECH IS FIRING EMPLOYEES BY THOUSANDS

Tech companies are always in the news, usually touting the next big thing. However, the tech news cycle recently hasn’t been dominated by the latest gadget or innovation. Instead, layoffs are in the headlines.

In the last year, more than 70,000 people globally have been laid off by Big Tech companies – and that doesn’t count the downstream effect of contractors (and other organisations) losing business as budgets tighten.

Since the end of the pandemic hiring spree, large numbers of employees have been fired from major tech companies, including Alphabet (12,000 employees), Amazon (18,000), Meta (11,000), Twitter (4,000), Microsoft (10,000) and Salesforce (8,000).

It started with reduced advertising spend and revenue. Many tech companies are funded through advertising. So, for as long as that income stream was healthy (which was especially the case in the years leading up to COVID), so was expenditure on staffing. As advertising revenue decreased last year – in part due to fears over a global recession triggered by the pandemic – it was inevitable layoffs would follow.

A CELAR DIVIDING LINE: ALL ABOUT MOBILE INTERNET USAGE BY AGE

What Indians aged 18-24 consume on the internet on their mobile phones bears little resemblance to that of people who are over 25.

Even as the 25+ category is mostly happy with the good old stalwarts such as WhatsApp, Facebook, and Amazon, for Generation Z, it is Telegram and Flipkart. The divide is so huge that data from App Annie (now named a.i) shows that there is not a single app that straddles both groups.

Figures based on the top apps of 2022 for 18-24 year olds show that in terms of Monthly Active Users (MAU), at number one is Instagram, followed by Truecaller, Flipkart, content streaming site MX Player, and Telegram. The list of top apps for the over 25s is different. Top is WhatsApp, followed by Facebook, PhonePe, Amazon, and Facebook Messenger.

Note the Facebook contrast. It does not even feature on the top five apps for generation Z.

PATHAAN ENDS BOLLYWOOD'S DRY SPELL

Two days since its release, the Shah Rukh Khan film Pathaan has dominated the box office. Easily joining the Rs 100 crore club on day 2, the film seems to have brought an end to the Hindi cinema’s dry spell.

Minting a whopping Rs 57 crore on its opening day on Wednesday, the film's total collections reached Rs 126 crore on Thursday.

Helmed by Siddharth Anand, the spy action film follows the story of an exiled RAW field operative, played by Shah Rukh Khan, who is assigned to take down a private terrorist organization that is planning a nuclear attack on India. The film also stars Deepika Padukone as a ISI agent and John Abraham as a rogue RAW agent.

The movie is the fourth installment in the YRF Spy Universe that includes Hrithik Roshan starrer War, Salman Khan’s Ek Tha Tiger and Tiger Zinda Hai.

AUS OPEN: SABALENKA TO MEET RYBAKINA IN FINAL

Aryna Sabalenka surged into the Australian Open final with a 7-6 (1), 6-2 win over unseeded Pole Magda Linette on Thursday to extend the red-hot Belarusian's unbeaten start to the year and book a clash with Elena Rybakina.

Adelaide champion Sabalenka has not dropped a set en route to 10 wins in 2023 but made a poor start in chilly conditions on Rod Laver Arena, dropping her serve to love in the opening game before breaking back with two blistering backhands.

Sabalenka had failed to get over the semi-final hurdle on three previous occasions at Grand Slams but was not to be denied this time, as she raced ahead 4-1 and saved three breakpoints to close out the contest with a forehand winner.

Up next for Sabalenka is Russian-born Kazakh Elena Rybakina, after the Wimbledon champion got past another Belarusian and two-times Melbourne Park winner Victoria Azarenka 7-6 (4), 6-3 in the first semi-final. Wimbledon champion Rybakina wore down Azarenka in a contest that was cagey early on and had some wild momentum swings before she dominated her opponent to prevail.

HOCKEY WORLD CUP: INDIA DEMOLISH JAPAN 8-0 IN CLASSIFICATION MATCH

Under-fire captain Harmanpreet Singh finally came good with his drag flick as he and young striker Abhishek struck a brace each as India demolished Asian Games champions Japan 8-0 in a largely inconsequential FIH Men's World Cup classification match in Rourkela on Thursday.

India, who had made a shock exit from the showpiece event after losing to New Zealand in their crossover match, played their best game but it came too late in the tournament.

The hosts, who scored four goals each in the third and fourth quarters, will now play South Africa in the ninth to 12th place match on Saturday.

A full-capacity crowd turned up at the Birsa Munda Stadium to watch the classification match and the spectators were treated to the home side's most convincing win in the tournament.

In other classification matches, South Africa beat Malaysia 6-3 while debutants Wales defeated France 2-1 in the penalty shootout to register their maiden World Cup win after the sides were locked 2-2 at the end of regulation time.

Wales will face Argentina, who hammered neighbours Chile 8-0 in another classification match, in the 9th to 12th place match on Saturday.

INDICATORS

(Indian markets were closed yesterday on account of Republic Day)

Nasdaq 11,512 (+199) Dow 33,949 (+206), S&P 4,060 (+44)

(US$-Rs. 81.48 GBP-Rs. 101.00, Euro-Rs. 88.80, UAE Dhm-Rs. 22.18, Can$-Rs. 60.94, Aus$- Rs. 57.93

GBP 0.80 /US$, Euro 0.91 /US$, Jap.Yen 129.80 /US$, Aus$ 1.40 /US$, Sing 1.31 /US$, Bang Taka 103.19 /US$, Can$ 1.33 /US$, Mal Ring 4.24 /US$,

Pak Re 238.39 /US$, Phil Peso 54.43 /US$, Russian Rouble 69.37 /US$, NZ$ 1.54 /US$, Thai Baht 32.71 /US$, Ukraine Hryvnia 36.50 /US$)

Bitcoin - USD 22,662

Dollar Index 101.57 Brent Crude 87.84 BDI 703

Gold world Spot Price USD/aoz 1,931 India (Rs. per gm 24k/22k) 5,793 / 5,310, Silver (Rs. Per KG) 75,000

THOUGHT FOR THE DAY

It is too common an Error, to invert the Order of Things; by making an End of that which is a Means, and a Means of that which is an End. - William Penn

OFF TRACK

This was narrated by a dear friend, an Electrical Officer.

“While in the Navy, my seniors noticed me behaving oddly at times. I would pick up any piece of paper I found, frown and say, "That's not it" and put it down again. 

This went on for some time, until my Commanding Officer sent me for psychological testing. The psychologist concluded that I was deranged and wrote my discharge from the navy.

I picked up that paper, smiled and said, THAT IS IT."