Category Archives: business

business, crime, entertainment, investigation, politics

Sonu Sood questioned by ED in betting app case

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**Sonu Sood Questioned by ED in 1xBet Betting App Money Laundering Case**

*By Apoorva Rastogi | Sep 24, 2025, 01:47 PM*

Bollywood actor Sonu Sood visited the Enforcement Directorate (ED) office in central Delhi on Wednesday for questioning in connection with a money-laundering investigation related to the online betting app 1xBet. The 52-year-old actor was summoned by the agency and arrived at the ED office around noon. He is being questioned under the Prevention of Money Laundering Act (PMLA).

### Ongoing Probe into 1xBet Online Betting App

The ED’s investigation into 1xBet is part of a broader probe targeting several online betting platforms accused of cheating people out of crores and evading both direct and indirect taxes. Over the past few weeks, the agency has questioned several former cricketers, including Suresh Raina, Shikhar Dhawan, Robin Uthappa, and Yuvraj Singh, among others.

### Probe into Celebrity Endorsements

The Enforcement Directorate is also examining how celebrities were approached by 1xBet for endorsements. The agency aims to uncover key contacts in India and determine the method and source of celebrity payments. It is investigating whether these payments could be classified as “proceeds of crime” under the PMLA.

To aid in the investigation, the ED has requested copies of contracts as well as all email and paper documentation related to the celebrities’ dealings with 1xBet.

### About 1xBet

According to its official website, 1xBet is a globally recognized bookmaker with 18 years of experience in the betting industry. The app offers users the ability to bet on thousands of sporting events and is available in 70 languages.

The ED may soon begin attaching the assets of individuals found to have used proceeds from promotional activities linked to the case.

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Stay tuned for more updates on this unfolding investigation.
https://www.newsbytesapp.com/news/entertainment/sonu-sood-summoned-by-the-ed/story

business, energy, politics, trade

India-US Trade Ties To Strengthen With Focus On Energy Security: Commerce Minister Piyush Goyal

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**India Seeks to Boost Energy Trade with the US, Highlights Strategic Partnership**

*New York:* India aims to significantly increase its trade with the United States in energy products in the coming years, with a strong emphasis on US involvement in achieving the country’s energy security goals, said Commerce and Industry Minister Piyush Goyal.

“Clearly, the world recognizes that energy security is one area where we all have to work together. India is a big player in the energy field; we are major importers of energy from across the world, including from the US,” Goyal stated on Tuesday during his keynote address at an event titled *Energy Security in a Shifting Global Landscape: Building Resilient Energy Markets Across Borders.* The event was hosted by the Consulate General of India in New York, the US-India Strategic Partnership Forum (USISPF), and ReNew, India’s leading decarbonisation solutions provider.

“We expect to increase our trade with the US on energy products in the years to come. Being close friends and natural partners, our energy security goals will have a very high element of US involvement. This partnership will ensure price stability, diversified sources of energy for India, and help us unlock limitless possibilities with the US on various fronts, energy and beyond,” he added.

Goyal is currently leading a delegation in New York, engaging with US counterparts to reach an early conclusion of a bilateral trade agreement.

Noting the significance of the day, Goyal mentioned that September 22 marks the commencement of Navratri, an auspicious period in the Hindu calendar. “It is said that on this day, things are expected to turn for the better,” he remarked.

Distinguished dignitaries attending the event included Member of Parliament Anurag Thakur, Secretary in the Ministry of Petroleum and Natural Gas Pankaj Jain, USISPF CEO and President Mukesh Agni, ReNew co-founder Vaishali Nigam Sinha, and ReNew Chairman and CEO Sumant Sinha.

### Collaboration on Nuclear Power and Critical Minerals

Goyal highlighted nuclear power as another key area for Indo-US collaboration. “It’s an area we’ve been discussing for a long time. Some elements needed to be addressed, and I believe we are now working to support private efforts in nuclear power in India,” he said.

He emphasized the importance of securing resilient critical mineral supplies and diversifying sources to prevent the weaponization of trade. “We need to build infrastructure, particularly transmission grid infrastructure both within countries and across borders, which can become the backbone of the clean energy transition for various nations.”

“We all must seriously work to align our regulatory frameworks to enable cross-border energy trade without concerns that geopolitics will undermine energy resilience or security,” Goyal added.

India continues to invest in nuclear energy with ambitions to double its capacity in the coming years through government intervention, while also planning to expand on a larger scale. “There are challenges related to price and energy costs that must be addressed to make nuclear power more competitive,” he noted.

### Ambitious Clean Energy Expansion

Goyal described India as being in a “sweet spot” to expand its clean energy capacity, projecting growth from 250 gigawatts to 500 gigawatts over the next five years.

He also commented on the European Union’s Carbon Border Adjustment Mechanism (CBAM), warning of its wide-ranging implications. “In fact, it could isolate the EU and hurt their economy, making them akin to a small island. While others continue trading, the EU may face inflation, unviable infrastructure costs, and loss of market share in exports,” Goyal explained.

He cautioned against green protectionism, describing it as “like a trap. If someone buries their head in the sand, they may find it very difficult to come out.”

—

*Disclaimer: This story is sourced from a syndicated feed. Only the headline has been modified.*
https://www.freepressjournal.in/business/india-us-trade-ties-to-strengthen-with-focus-on-energy-security-commerce-minister-piyush-goyal

business, commodities, industry, metals

Iron ore $20?

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The ferrous complex plods on, caught between conflicting forces. On one hand, there is the approach of major projects like Simandou, Capanema, and Gara Gjeblet. On the other, the shutdown of Chinese green steel plants is creating uncertainty in the market.

Amidst these opposing influences, the balance is maintained by unusually solid blast furnace output for this season.

Honestly, if you had shown me that chart back in 2019, I would have predicted iron ore prices to fall to $20. Indeed, that was my expectation at the time.
https://www.macrobusiness.com.au/2025/09/iron-ore-20/

business, economy, employment, regional development, technology

Accenture plans to create 12,000 jobs in Andhra Pradesh

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**Accenture Plans to Create 12,000 Jobs in Andhra Pradesh**

*By Dwaipayan Roy | Sep 23, 2025, 08:02 PM*

Accenture, a leading global technology consultancy firm, has proposed the establishment of a new campus in Andhra Pradesh as part of its strategy to expand its workforce in India by approximately 12,000 employees. This initiative aligns with similar expansions by other major IT firms such as Tata Consultancy Services (TCS) and Cognizant, supported by a new state policy offering land at a highly subsidized rate of just ₹0.99 per acre for companies committed to job creation.

**Proposal Details**

Accenture has requested around 10 acres of land in Visakhapatnam under the terms of this policy. The proposal is currently under review by the Andhra Pradesh government. India already serves as Accenture’s largest employee base globally, with over 300,000 of its 790,000 worldwide employees based in the country.

**Government Response**

An official from the Andhra Pradesh government expressed enthusiasm about bringing Accenture to the state. Although the approval process may take some time, the official indicated that the proposal is reasonable and expected to be approved soon. The statement was given on the condition of anonymity.

**Investment and Comparisons**

While the exact investment amount Accenture intends to make has yet to be disclosed, precedent exists with TCS and Cognizant, which have secured land leases under the same policy for campuses projected to generate around 20,000 jobs in Visakhapatnam. Cognizant is investing $183 million, and TCS has allocated just over $154 million for its new facility.

**Trend Toward Expansion in Tier-2 Cities**

The expansion of major tech firms into tier-2 Indian cities reflects a growing trend driven by cost advantages such as lower land prices, rent, and wage expenses. Post-pandemic shifts have also made it easier for companies to hire local talent in these smaller cities, reversing the earlier pattern of workers migrating to large tech hubs.

With Andhra Pradesh emerging as a key destination for IT investments, Accenture’s proposed campus is expected to significantly boost employment and contribute to the region’s growing prominence in India’s technology landscape.
https://www.newsbytesapp.com/news/business/accenture-seeks-land-in-ap-for-new-campus/story

business, immigration, offshoring, technology

Indian IT Firms Shielded From $100,000 H-1B Visa Fee Hike, Localisation & Offshoring Strategies Boost Independence

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New Delhi: The impact of the H-1B visa application fee hike to $100,000 is expected to be limited on Indian IT services firms, given their reduced reliance on H-1B visas over the past decade through increased localisation and offshoring, a report said on Tuesday. However, the medium-term implications could be more pronounced.

The elevated cost of delivery in the US may lead to a structurally higher cost base, prompting firms to reassess their operating models and explore mitigation strategies, said a Franklin Templeton report. The extent of impact could vary depending on a company’s US exposure, onsite workforce mix, and reliance on non-local talent.

Historically, visa-related challenges have stemmed more from executive actions than legislative changes, with cost pressures already rising in earlier phases of visa tightening. Importantly, supply-side disruptions tend to be more damaging in high-growth environments—conditions that are not currently in play.

“As H-1B lotteries and petitions typically occur in Q4–Q1, the earliest material impact is likely to be reflected in FY27 petition cycles. In response, providers are expected to accelerate offshoring, expand nearshore operations in Canada and Mexico, pursue acquisitions in Europe and APAC to diversify geographically, and invest in automation and AI to enhance productivity,” the report mentioned.

These shifts are likely to make Global Capability Centres (GCCs) in India increasingly attractive to talent, especially as onsite opportunities decline and clients demand better rate realisation and efficiency gains.

India’s equity markets may experience some near-term volatility, but overall valuations remain broadly elevated versus historical averages. However, valuations for the IT sector have corrected in the last 6–12 months due to a weak demand outlook.

The outlook for overall corporate earnings in Indian markets is improving, supported by a recovery in domestic consumption and a gradual pickup in private sector capital expenditure.

“While global risks—such as US tariffs—pose short-term challenges for export-driven sectors, India’s macroeconomic fundamentals continue to be resilient,” said the report.

Looking ahead, the potential conclusion of a trade agreement with the US in the second half of 2025, combined with strengthening domestic demand and improving earnings visibility, could act as positive catalysts for the market over the coming quarters, it added.

*Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.*
https://www.freepressjournal.in/business/indian-it-firms-shielded-from-100000-h-1b-visa-fee-hike-localisation-offshoring-strategies-boost-independence

business, economy, financial markets, foreign policy

Dollar pullback to offer no relief with rupee caught in US crosswinds

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By Nimesh Vora

**MUMBAI, Sept 23 (Reuters)** – The Indian rupee is expected to remain under strain on Tuesday despite a dip in the dollar, with steep U.S. tariffs and visa fee increases denting sentiment towards the Asian currency.

The 1-month non-deliverable forward indicated the rupee will open marginally weaker from 88.3075 on Monday. At current levels, the rupee is only a shade away from the all-time low of 88.4550, marked two weeks back.

The rupee, already struggling under the weight of U.S. tariffs that are steeper than those faced by other Asian countries, is now contending with the fallout of President Donald Trump’s decision to raise H-1B visa fees for new applications. The move could weigh on India’s IT services sector, slow remittances, and dampen overall investor sentiment, leaving the currency vulnerable to further weakness.

DBS Bank noted that India was the largest recipient of overseas remittances in the world, with the U.S. share at about a third of the total. “We don’t expect any knee-jerk impact on this component, though steady tightening in work-related visas in the US might impact inflows,” it said.

The latest U.S. step adds to headwinds for the rupee, suggesting it may remain one of the weaker currencies in Asia in the near term, a currency trader at a Mumbai-based bank said.

The Reserve Bank of India will be watching closely and is expected to act to keep markets orderly, providing a buffer against big swings, he added.

**Dollar Retreats, Eyes on Fed**

The dollar struggled in trading in Asia on Tuesday, with traders weighing comments by members of the Federal Reserve for clues on the path of interest rates. The comments, which analysts said on balance leaned hawkish, came after the Fed cut rates last week and signaled two more cuts for the year.

Markets are now pricing in a very high probability that the Fed will follow last week’s move with another rate reduction in October.

**Key Indicators:**
– One-month non-deliverable rupee forward at 88.48; onshore one-month forward premium at 14 paise
– Dollar index down at 97.31
– Brent crude futures down 0.5% at $66.3 per barrel
– Ten-year U.S. note yield at 4.15%
– As per NSDL data, foreign investors bought a net $127.8 million worth of Indian shares on Sept. 21
– NSDL data shows foreign investors bought a net $69.2 million worth of Indian bonds on Sept. 21

— Reuters
https://www.livemint.com/market/stock-market-news/dollar-pullback-to-offer-no-relief-with-rupee-caught-in-us-crosswinds-11758596191311.html

business, leadership, technology, telecommunications

Meet Srini Gopalan, IIM Ahmedabad alumnus turned T-Mobile’s new CEO

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**Meet Srini Gopalan, IIM Ahmedabad Alumnus Turned T-Mobile’s New CEO**

*By Dwaipayan Roy | Sep 22, 2025, 08:00 PM*

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**T-Mobile Announces Leadership Change**

T-Mobile has named its current Chief Operating Officer (COO), Srini Gopalan, as the company’s new Chief Executive Officer (CEO), effective November 1, 2025. Gopalan will succeed Mike Sievert, who has led the company since April 2020 and will transition into a vice chairman role.

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**Gopalan’s Journey at T-Mobile**

Srini Gopalan joined T-Mobile in March 2023 and quickly became a key driver of the company’s strategic initiatives. Prior to serving as COO, he was a member of T-Mobile’s board of directors. His leadership has been pivotal in advancing T-Mobile’s growth and innovation in the competitive telecom sector.

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**A Track Record of Success at Deutsche Telekom**

Before joining T-Mobile, Gopalan led Deutsche Telekom’s Germany business, where he achieved remarkable growth by doubling the company’s expansion. Under his guidance, fiber-optic services were extended to millions of homes, and the company captured a record share of the mobile market.

During his time on Deutsche Telekom’s board overseeing European operations, Gopalan was credited with transforming the business into one of Europe’s fastest-growing telecom players, renowned for industry-leading customer satisfaction.

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**Diverse Experience Across Telecom and Finance**

Gopalan’s extensive career includes senior roles at prominent companies such as Bharti Airtel, Vodafone, and Capital One. Across these roles, he has championed operational excellence, digital transformation, and customer-focused strategies, solidifying his reputation as a visionary leader.

—

**Academic Background**

Born in India, Srini Gopalan completed his undergraduate studies in business administration at St. Stephen’s College in New Delhi. He later earned his MBA from the prestigious Indian Institute of Management (IIM) Ahmedabad. Known for his operational expertise and transformative vision, Gopalan brings a wealth of knowledge and experience to his new role at T-Mobile.

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With Srini Gopalan at the helm, T-Mobile is poised to continue its dynamic growth and innovation in the telecom industry.
https://www.newsbytesapp.com/news/business/srini-gopalan-appointed-as-t-mobile-s-new-ceo/story

business, food, health, nutrition, wellness

Add these spices to your daily drinks

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By Anujj Trehaan | Sep 22, 2025 | 6:31 PM

**Incorporate Daily Spices into Hydrating Drinks to Boost Wellness and Refresh Instantly**

Incorporating daily spices into your hydrating drinks can provide an instant wellness boost and refresh you naturally. These common spices, often found right in our kitchens, offer numerous health benefits when added to beverages. From improving digestion to enhancing immunity, these natural ingredients can transform ordinary drinks into powerful wellness elixirs.

Here’s how you can use some everyday spices to create simple yet effective health-boosting drinks:

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### Tip 1: Turmeric’s Golden Touch

Turmeric is renowned for its anti-inflammatory properties, largely due to an active compound called curcumin. Adding a pinch of turmeric to warm water or herbal tea can help reduce inflammation and support joint health. For enhanced benefits, combine turmeric with black pepper, which can increase curcumin absorption by up to 2,000%.

This golden spice not only lends a beautiful color to your drink but also promotes overall well-being.

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### Tip 2: Ginger’s Zesty Kick

Ginger is well-known for its digestive benefits and its ability to ease nausea. Slicing a few pieces of fresh ginger into hot water creates a comforting drink that soothes stomach discomfort and aids digestion.

Moreover, ginger’s spicy warmth improves circulation and provides comforting heat during colder months. Adding ginger to your daily hydration routine is an easy way to enhance gut health.

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### Tip 3: Cinnamon’s Sweet Warmth

Cinnamon is widely celebrated for its role in regulating blood sugar levels and improving insulin sensitivity. Including a cinnamon stick or a dash of ground cinnamon powder in your morning tea or coffee delivers these benefits along with a delightful sweet aroma—without any added sugar.

Additionally, cinnamon contains antioxidants that help fight oxidative stress in the body.

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### Tip 4: Cardamom’s Aromatic Flavor

Cardamom imparts a unique aromatic flavor that complements both hot and cold drinks. Known for its detoxifying properties, cardamom helps flush toxins from the body while promoting digestive health.

Simply add crushed cardamom pods or ground cardamom powder to your beverage to enhance flavor and support digestion naturally.

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### Tip 5: Clove’s Invigorating Essence

Cloves are packed with antioxidants that combat free radicals and promote oral health due to their antibacterial properties, making them a common ingredient in natural mouthwashes.

Adding a few cloves to warm water creates an invigorating essence that assists digestion after meals, without relying on artificial additives. This makes cloves an excellent natural choice for everyday consumption.

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Incorporating these simple spices into your daily drinks not only elevates flavor but also offers a natural path to improved health and wellness. Enjoy exploring these easy, effective ways to boost your hydration routine!
https://www.newsbytesapp.com/news/lifestyle/daily-spices-for-hydrating-wellness-drinks/story

business, education, employment, industry, technology

Why getting VC jobs is now harder for MBA graduates

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**Why Getting VC Jobs Is Now Harder for MBA Graduates**
*By Dwaipayan Roy | Sep 22, 2025, 01:18 pm*

The pathway from earning an MBA to landing a job in venture capital (VC) remains open, but recent data suggests this route is becoming more challenging. According to reports from PitchBook and academic research, the landscape of VC hiring is shifting.

In 2024, Harvard University placed 50 of its 1,004 MBA graduates into VC roles, with a median starting salary of $177,500. Meanwhile, Stanford saw about 30 of its smaller graduating class enter venture capital positions.

### Alumni Presence and Declining MBA Representation

PitchBook data reveals that over 10,000 MBA alumni from Harvard, Stanford, and Wharton currently hold senior roles in US VC firms. Despite this large presence, the dominance of MBAs in the venture capital world is gradually declining.

Stanford professor Ilya Strebulaev’s research shows that the share of mid-career venture professionals with MBA degrees has dropped from 44% in the early 2000s to 32% today. This signals a noticeable shift in the composition of VC talent.

### Changing Hiring Preferences

The evolving nature of venture capital itself is a key factor behind this trend. VC is expanding beyond traditional sectors into cutting-edge fields like artificial intelligence (AI) and hardware, where technical expertise tends to be more valued than business school credentials.

As a result, venture firms increasingly prioritize candidates with backgrounds from tech powerhouses such as OpenAI and SpaceX over those holding MBAs from top business schools.

“There is less appetite for MBAs currently,” notes executive recruiter Will Champagne in an interview with PitchBook.

### Student Interest Remains Strong

Despite these changes in hiring preferences, interest among MBA students in venture capital careers remains robust. At Stanford, for example, the VC club boasts around 600 members out of roughly 850 MBA students on campus.

However, pursuing an MBA at a leading program can be costly, with expenses often exceeding $200,000. Yet this high price tag does not seem to diminish students’ enthusiasm for venture capital roles.

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As the VC industry evolves, MBA graduates may need to adapt by gaining relevant technical skills or experience to stay competitive in this dynamic job market.
https://www.newsbytesapp.com/news/business/mba-to-vc-job-path-still-exists-but-changing/story

business, policy, technology

Indian Tech Industry To Enhance Local Skilling, Hiring In US: Nasscom

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The Indian IT and tech industry is investing more than $1 billion in local upskilling and hiring within the United States, marking a significant increase in the number of local hires, according to the industry’s apex body, Nasscom.

Over the years, Indian and India-centric companies operating in the US have significantly reduced their reliance on H-1B visas, steadily boosting their local hiring efforts. “Moreover, with the fee being applicable from 2026 onward, companies have time to further enhance skilling programs in the US and increase local hiring,” Nasscom noted.

Data shows that the number of H-1B visas issued to leading Indian and India-centric companies has dropped from 14,792 in 2015 to 10,162 in 2024. Nasscom added, “H-1B workers for the top 10 Indian and India-centric companies constitute less than 1 percent of their entire employee base. Given this trajectory, we anticipate only a marginal impact for the sector.”

The H-1B visa is designed for high-skilled worker mobility and serves as a non-immigrant visa that helps bridge critical skill gaps in the US labor market. Salaries for H-1B workers are on par with local hires, and H-1B workers represent only a very small fraction of the overall US workforce.

“Nasscom has consistently advocated for predictable and stable skilled talent mobility frameworks, which are essential for sustaining national competitiveness and have long fueled US innovation and economic growth,” the industry body said. Skilled talent mobility, it emphasized, is central to enabling businesses to make forward-looking investment decisions, accelerate research, and strengthen nations’ positions in the global innovation economy.

On September 20, the White House issued clarifications regarding the recent proclamation introducing a $100,000 annual fee on H-1B visa applications. The clarification confirmed that this new fee will not affect current visa holders and will be applied as a one-time fee only to fresh petitions. This announcement has helped resolve immediate ambiguities surrounding eligibility and timelines, while also alleviating concerns about business continuity and uncertainty for H-1B holders currently outside the US.

*Disclaimer: This story is from a syndicated feed. Only the headline has been changed.*
https://www.freepressjournal.in/tech/indian-tech-industry-to-enhance-local-skilling-hiring-in-us-nasscom