CAB releases Eden Gardens event ticket rates.

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CAB releases Eden Gardens event ticket rates.

Tickets for events in Eden Gardens are released by CAB.

Snehasish Ganguly, the president of the Cricket Association of Bengal (CAB), has announced the ticket prices for the upcoming ICC World Cup matches to be held at Eden Gardens. The schedule for the ODI World Cup was released last month by the Board of Control for Cricket in India (BCCI) and the International Cricket Council (ICC).

CAB releases Eden Gardens event ticket rates.
CAB has set different price categories for the tickets

Eden Gardens Stadium, an iconic venue, will host a total of five matches, including one semifinal. The CAB has set different price categories for the tickets. For the World Cup semifinal and India vs South Africa fixture, the minimum ticket price for the upper tier is Rs 900. D and H block tickets will cost Rs 1500, while C and K block tickets are priced at Rs 2500. The maximum ticket price for B and L blocks is set at Rs 3000.

For the matches between Bangladesh and Pakistan on October 31, and England vs Pakistan on November 12, the ticket prices start at Rs 800 for the upper tiers. D and H block tickets will be available for Rs 1200, while C and K block tickets will cost Rs 2000. The maximum price for B and L block tickets is set at Rs 2200. For Bangladesh vs Qualifier 1 match, the ticket rates are Rs 650 for all upper tiers, Rs 1000 for D and H blocks, and Rs 1500 for B, C, K, and L blocks.

Taliban favors Musk’s Twitter over Threads on Zuckerberg’s website.

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Taliban favors Musk’s Twitter over Threads on Zuckerberg’s website.

Taliban prefers Musk’s Twitter over Threads on Zuckerberg’s platform.

The Taliban has expressed its support for Elon Musk’s Twitter over Mark Zuckerberg‘s Threads on Instagram, stating that other platforms cannot replace the original micro-blogging platform. Anas Haqqani, a thought leader with familial connections to the leadership, officially endorsed Twitter, highlighting its advantages of freedom of speech and the public nature and credibility it offers. He also criticized Meta’s Threads for its allegedly intolerant policy. This endorsement by a senior member has sparked surprise among Twitter users.

Taliban favors Musk's Twitter over Threads on Zuckerberg's website.
cannot replace the original micro-blogging platform

While Twitter has faced criticism and lost favor among certain prominent individuals, celebrities, and advertising brands since Elon Musk took over and implemented significant changes in October of the previous year, they appear to appreciate the platform. In fact, two officials even purchased blue verification checkmarks when Musk started selling them for $8 a month in January. The Taliban has been actively using social media platforms to disseminate its message to its audience.

However, according to reports, both Facebook and TikTok consider the Taliban a terrorist organization and prohibit them from posting content. This ban remains in effect to this day.

Sweden’s accession to NATO has been supported by Turkey

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Sweden’s accession to NATO has been supported by Turkey

Turkey supports Sweden’s admission to NATO.

NATO Secretary General Jens Stoltenberg has announced that Turkey has now supported Sweden’s bid to join the military alliance, calling it a “historic” decision. After a meeting between Turkish President Recep Tayyip Erdogan, Swedish Prime Minister Ulf Kristersson, and Stoltenberg in Vilnius, Lithuania, it was confirmed that Turkey would forward Sweden’s accession protocol for ratification in the Grand National Assembly. This development comes after months of Turkey blocking its application due to accusations of hosting Kurdish militants.

Sweden's accession to NATO has been supported by Turkey
Stoltenberg stated that Turkey’s security concerns had been addressed

Stoltenberg stated that Turkey’s security concerns had been addressed, and Sweden had made amendments to its constitution, changed its laws, expanded its counter-terrorism operations against the Kurdistan Workers’ Party (PKK), and resumed arms exports to Turkey. The news of Turkey’s support for Sweden’s NATO membership was welcomed by several NATO members, including US President Joe Biden, who expressed his commitment to work with President Erdogan and Turkey to enhance defense and deterrence in the Euro-Atlantic area.

Other leaders, such as German Foreign Minister Annalen Baerbock and British Prime Minister Rishi Sunak, also welcomed Sweden’s inclusion, emphasizing the collective safety it would bring. President of the EU Commission, Ursula Von Der Leyen, described it as a “historic step.”

Sweden and Finland both expressed their intention to join NATO in May the previous year, prompted by Russia’s invasion of Ukraine. Finland officially joined the alliance in April of the current year. The focus of the NATO Summit, held over two days, primarily revolves around Ukraine’s membership aspirations. While Ukraine has been pushing for membership, it is understood that NATO members believe it should not join during the ongoing war due to concerns about a direct conflict with nuclear-armed Russia. Ukrainian President Volodymyr Zelensky expects membership to be granted after the war but seeks a clear signal of support from the Summit.

The Shimla-Chandigarh motorway reopens to traffic

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The Shimla-Chandigarh motorway reopens to traffic

Traffic on the Shimla-Chandigarh highway has resumed.

After a major landslide in Himachal Pradesh’s Solan district, the Shimla-Chandigarh National Highway 5 was blocked for more than 12 hours. However, the highway has now been reopened for traffic, according to the police. Single-lane traffic is being allowed on both sides of the highway at Koti, Sanwara, and Chakkimod. The landslide caused a significant portion of the highway to collapse near Chakkimod in Solan district.

The Shimla-Chandigarh motorway reopens to traffic
Single-lane traffic is being allowed

In addition, heavy rain has damaged the crucial bridge on National Highway 105, which connects Pinjore with Baddi, resulting in traffic disruption. Furthermore, due to mudslides caused by heavy rainfall, rail traffic on the Kalka-Shimla track, a UNESCO World Heritage site, will remain suspended on Tuesday. Landslides have been reported in various locations along the tracks in Solan district, located around 65 km from the state capital.

The Chief Minister, Sukhvinder Sukhu, stated that the ongoing torrential monsoon rains have resulted in 17 fatalities in the state and caused property damage estimated to be over Rs 3,000 crore.

launching an AI skills lab in India with Dell Technologies and Intel

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launching an AI skills lab in India with Dell Technologies and Intel

As part of the launch of an AI skills lab in India, Dell Technologies joins Intel.

Dell Technologies and Intel have joined forces to establish an artificial intelligence (AI) lab in India. The partnership aims to integrate Intel’s “AI for Youth” program into the curriculum of the Lords Institute of Engineering & Technology in Telangana, with the goal of demystifying AI for the next generation. The collaboration aims to bridge the digital skills gap and prepare students for the industry.

launching an AI skills lab in India with Dell Technologies and Intel
collaboration aims to bridge the digital skills gap

Dell Technologies’ Senior Director and General Manager, Indrajit Belgundi, expressed that innovation in technology and education is crucial for developing the future workforce in India. The program will provide training to selected teachers, offer over 170 hours of AI curriculum, and engage students in boot camps, AI-Thons, and virtual showcases. The partnership also includes the establishment of an AI Skills lab on campus to encourage the creation of solutions with social impact.

Intel’s Senior Director, Shweta Khurana, emphasized the importance of empowering students with the skills and resources to understand and adopt AI for successful digital transformation. The collaboration between Dell and Intel is expected to foster innovative projects in natural language processing (NLP), computer vision, and statistical data analytics, contributing to real-time societal impact. The companies plan to expand their collaboration to other educational institutions across India, aiming to build an AI-ready student community capable of meeting future challenges.

Hyderabad Medico kills himself by cutting his private part

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Hyderabad Medico kills himself by cutting his private part

A medical practitioner from Hyderabad cuts himself to death to end his life.

A 21-year-old second-year MBBS student in Hyderabad tragically took his own life by severing his penis, according to the police. The incident occurred on Sunday night at his residence in Papireddy Nagar, located in the Medchal Malkajgiri district on the outskirts of Hyderabad. When his family members returned home, they discovered him lying in a pool of blood after receiving no response to their knocks on the door.

Hyderabad Medico kills himself by cutting his private part
medical personnel who arrived with an ambulance pronounced him dead at the scene

They immediately alerted the authorities, and medical personnel who arrived with an ambulance pronounced him dead at the scene. The police reported that the young man used a knife to carry out this act, resulting in severe blood loss and ultimately his demise. His body was taken for autopsy.

The deceased, Dikshit Reddy, was studying in his second year of MBBS at Gandhi Medical College in Secunderabad. Originally from a village in Warangal district, his parents had migrated to Hyderabad two decades ago. According to family members, Reddy had been dealing with mental health issues, and he had previously attempted suicide by consuming sleeping pills. He was said to be suffering from depression due to health problems. The police have initiated an investigation into the case following the registration of a complaint.

Transactions using digital wallets will top $16 trillion.

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Transactions using digital wallets will top $16 trillion.

By 2028, digital wallet transactions will total more than $16 trillion.

A recent report has revealed that the total value of digital wallet transactions is expected to increase by 77% from $9 trillion in 2023 to $16 trillion in 2028. This growth is driven by the adoption of advanced services like Buy Now Pay Later (BNPL) and micro-loans, leading to increased engagement among users in both developed and developing markets.

Transactions using digital wallets will top $16 trillion.
The importance of diversifying the appeal of digital wallets in a crowded market

Digital wallet providers are using these advanced services to differentiate themselves and generate additional revenue in a competitive market. Super app strategies, where digital wallets offer a range of services, will rely on effectively deploying these advanced services at scale. The report emphasizes the importance of diversifying the appeal of digital wallets in a crowded market.

Advanced services, particularly BNPL, are attracting more users, especially younger consumers, and generating additional revenue. Digital wallets offer increased security through tokenization, enabling the secure use of payment information. Additionally, as digital wallets expand to include elements of digital identity, convenience will become increasingly important, allowing wallet services to become comprehensive apps for financial well-being.

Swiatek overcomes a scare against Bencic at Wimbledon to go to the quarterfinals.

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Swiatek overcomes a scare against Bencic at Wimbledon to go to the quarterfinals.

Swiatek makes it to the quarterfinals at Wimbledon after a scare from Bencic

Iga Swiatek, the current world No.1 in women’s tennis, showed her resilience by saving two match points to defeat Belinda Bencic, the No.14 seed and Olympic champion, in a thrilling match at Wimbledon. The victory not only advanced Iga to her first Wimbledon quarterfinals but also extended her winning streak to 14 consecutive matches. This also marks her ninth consecutive appearance in the quarterfinals, making her the youngest player since Svetlana Kuznetsova to achieve this feat at all four Grand Slam tournaments.

Swiatek overcomes a scare against Bencic at Wimbledon to go to the quarterfinals.
Swiatek showed her determination by saving two match points

In the match, Bencic started strong and took a commanding 6-1 lead in the first-set tiebreak, ultimately winning the set. However, she quickly responded by breaking Bencic in the opening game of the second set. Although Bencic managed to break back and keep the pressure on, Swiatek showed her determination by saving two match points and forcing a second-set tiebreak.

she dominated the tiebreak, winning it convincingly and pushing the match into a deciding third set. The crucial moments came early in the third set when Iga broke Bencic’s serve to take a 3-1 lead. She held on to that advantage and closed out the match with her 33rd winner after an intense battle lasting 3 hours and 3 minutes. Swiatek’s next opponent in the quarterfinals will be Elina Svitolina of Ukraine.

After “Pathaan,” SRK promises another blockbuster hit.

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After “Pathaan,” SRK promises another blockbuster hit.

Another Blockbuster film is promised by SRK.

Bollywood superstar Shah Rukh Khan, who garnered massive success with his previous film ‘Pathaan‘, is ready to create a blockbuster with his upcoming movie ‘Jawan’, as evidenced by the recently released ‘prevue’ (a short advertisement featuring scenes from an upcoming motion picture). In the prevue, Khan is seen sporting a bald look and engaging in intense action sequences.

After "Pathaan," SRK promises another blockbuster hit.
The two-minute and 12-second preview begins with an attack on a remote area by unidentified bandits

The two-minute and 12-second preview begins with an attack on a remote area by unidentified bandits, followed by scenes of chaos in a metro city where people wearing masks similar to Khan’s signature look from the film run around. The preview features explosive moments, fights, flames, and gunshots, and eventually reveals Khan’s appearance with half of his face covered by the mask.

The preview generates excitement by showcasing popular South Indian superstars Nayanthara and Vijay Sethupathi, as well as Bollywood actors Sanya Malhotra and Deepika Padukone in special appearances.

Towards the end of the prevue, Khan surprises viewers with his bald look and grooves to the song ‘Bekarar Kar Ke Hume Yun Na Jaaiyie’. It cleverly references Khan’s iconic dialogues from films like ‘Dil To Pagal Hai’ and the train sequence from ‘Ra. One. The fast-paced score by Anirudh Ravichander adds to the anticipation, hinting at another blockbuster that will reinvigorate Bollywood.

The preview strategically includes moments that cater to fans, leaving a lasting impact and enticing them to watch the movie in theaters. The star-studded cast ensures the film will attract a wide audience and it will create another blockbuster for Khan. Directed by Atlee, ‘Jawan’ is scheduled to release on September 7, 2023.

Nothing announces the opening of 1st ‘Customer Service Centre’ in India

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Nothing announces the opening of 1st ‘Customer Service Centre’ in India

Nothing announces the debut of India’s first “Customer Service Centre.”

Consumer technology brand Nothing has announced the opening of its first exclusive Customer Service Centre in India. The service centre, located in Bengaluru, is set to open in August and will provide customer support and after-sales services. It plans to expand its coverage of service centres from 230 to over 300 by the end of July, covering 19,000 pin codes across the country.

Nothing announces the opening of 1st ‘Customer Service Centre’ in India
customers in India by prioritizing after-sales service.

The company aims to establish trust and credibility among its customers in India by prioritizing after-sales service. It plans to launch five exclusive service centres in five cities by 2023 and an additional 20 centres across cities by 2024. Additionally, Nothing will increase its customer service team by 50% to ensure continued excellence in services and customer satisfaction.

The new service centre will also host service camps periodically, allowing customers to purchase accessories, care packs, and warranty upgrades. Nothing is scheduled to launch its upcoming Phone (2) on July 11 in India.

Members of the UK Parliament urge PM Modi to protect endangered Asian elephants

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Members of the UK Parliament urge PM Modi to protect endangered Asian elephants

Members of the UK Parliament call on PM Modi to defend Asian elephants, who are in danger.

British MP Henry Smith, along with over 85 parliament members, including celebrities and politicians from the House of Lords and House of Commons, has written a letter urging Indian Prime Minister Narendra Modi to take strong measures to protect endangered Asian elephants and address human-animal conflict in India.

Members of the UK Parliament urge PM Modi to protect endangered Asian elephants
the alarming number of elephant killings in the past decade

The letter highlights the alarming number of elephant killings in the past decade, with 1,200 elephants killed in India and 245 in Odisha alone in the past three years. The letter requests the Indian government to implement stringent penalties to deter the senseless killings of these endangered animals. The initiative by Henry Smith follows the successful passing of bills related to trophy hunting and animal protection in the UK Parliament. The letter also addressed to Minister of Environment, Forest & Climate Change Bhupendar Yadav, has garnered support from prominent figures such as former Home Secretary Priti Patel, Lord Dholakia, Baroness Prashar, William Shatner from Star Trek, and actors Rula Lenska and Peter Eagan.

The encroachment of human settlements on elephant habitats has led to increased conflict, as elephants venture into human dwellings in search of food and water. Smith emphasizes that protecting these megaherbivores is crucial not only for India’s ecosystems but also for global conservation efforts. The letter comes after a presentation by Henry Smith and Indian-Canadian elephant conservationist Sangita Iyer to the UK Parliament, where they highlighted the alarming number of elephant deaths caused by electrocution, poaching, and habitat loss. Iyer emphasizes that the fate of elephants in India has far-reaching consequences and calls on world leaders to unite in urging Indian authorities to take urgent action.

With 80% of their habitats lost to human encroachment, elephants face threats from railways, highways, and other forms of development. Asian elephants are endangered, with only 40,000 remaining worldwide, including 27,000 in India. India’s rapidly growing population and infrastructure development pose significant challenges to elephant conservation. Iyer is now seeking other world leaders’ support to amplify Prime Minister Modi’s international call for action.

Kejriwal calls the meeting to address rain issues, rising Yamuna water level

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Kejriwal calls the meeting to address rain issues, rising Yamuna water level

To discuss the issue of the rain and the rising Yamuna water level, Kejriwal holds a meeting.

According to sources, Delhi Chief Minister Arvind Kejriwal has scheduled a meeting at the Delhi Secretariat on Monday to address the issues arising from heavy rainfall and the rising water level of the Yamuna River in the city. The meeting will be attended by officials from the Municipal Corporation of Delhi (MCD) and heads of various government departments.

Kejriwal calls the meeting to address rain issues, rising Yamuna water level
heavy rain that has been affecting Delhi and its surrounding areas

The main agenda of the meeting will be to discuss emergency measures to be taken in response to the heavy rain that has been affecting Delhi and its surrounding areas for the past two days. The sources also mentioned that particular attention will be given to the rising water level of the Yamuna River by officials from the Irrigation Department and the MCD.

Kejriwal government has already issued its first flood alert, citing the release of a large amount of water into the Yamuna River from the Hathni Kund Barrage. The announcement provided details of the water levels and cautioned officials to take necessary actions in their respective areas to ensure the safety of people living within the river embankments.

Rohan Bopanna-Matthew Ebden advanced to the second round

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Rohan Bopanna-Matthew Ebden advanced to the second round

Matthew Ebden and Rohan Bopanna made it to the second round.

Indian tennis player Rohan Bopanna and his Australian partner Matthew Ebden have advanced to the second round of the men’s doubles event at Wimbledon. Seeded sixth, they defeated the Argentine pair of Guillermo Duran and Tomas Etcheverry in a tough match that lasted over two hours.

Rohan Bopanna-Matthew Ebden advanced to the second round

Rohan Bopanna and Ebden, who have already won two doubles titles this year, will face the unseeded British pair of Jacob Fearnley and Johannus Monday in the next round. Bopanna is also participating in the mixed doubles event with Canada’s Gabriela Dabrowski. Meanwhile, Indian players Yuki Bhambri and Saketh Myneni, as well as Jeevan Nedunchezhiyan and N. Sriram Balaji, will start their men’s doubles campaigns on Saturday. Unfortunately, there are no Indian players competing in the singles category at Wimbledon this year.

New AI tool can decode brain cancer’s genome during surgery

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New AI tool can decode brain cancer’s genome during surgery

A new AI technology can read the genome of brain tumors during surgery.

Scientists have developed an artificial intelligence (AI)-based tool called CHARM that can rapidly analyze the DNA of brain tumors to determine their molecular identity during surgery. This information can help neurosurgeons make important decisions about the extent of tumor removal and the use of tumor-killing drugs.

New AI tool can decode brain cancer’s genome during surgery
CHARM, on the other hand, extracts biomedical signals from frozen pathology slides

The current approach to molecular profiling of tumors can take days or weeks, which may result in either excessive or inadequate tissue removal. CHARM, on the other hand, extracts biomedical signals from frozen pathology slides, allowing for real-time molecular diagnosis during surgery.

The tool has shown promising results in distinguishing specific molecular mutations and classifying different types of gliomas, a type of brain tumor, with high accuracy. It can also identify visual characteristics associated with more aggressive tumor types. Although CHARM still needs further clinical validation and FDA clearance, it has the potential to advance real-time precision oncology and be adapted to identify other subtypes of brain cancer.

Nepal, India agree on completion of the Pancheshwar Multipurpose Project report in 3 months

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Nepal, India agree on completion of the Pancheshwar Multipurpose Project report in 3 months

Report on the Pancheshwar Multipurpose Project in Nepal and India

Nepal and India have agreed to complete the detailed project report (DPR) for the Pancheshwar Multipurpose Project within three months. The project, a key component of the Mahakali Treaty signed in 1996, aims to generate 6,400 megawatts of energy. However, differences between the two sides prevented the joint panel of experts from reaching an agreement on completing the DPR.

Nepal, India agree on completion of the Pancheshwar Multipurpose Project report in 3 months
meeting of the Pancheshwar Development Authority’s governing council held in Pokhara and Kathmandu

During a meeting of the Pancheshwar Development Authority’s governing council held in Pokhara and Kathmandu, it was decided to activate the expert group and extend the deadline to resolve the dispute. This move follows the commitment made by the prime ministers of both countries to conclude the report within three months.

The expert group, whose term was initially set to end in March 2023, will now hold its fourth meeting. The meeting also agreed to appoint officials from both sides and emphasized that both countries would invest in the project based on water sharing. However, there is a disagreement on how to distribute the water benefits and the issue of investment responsibility.

Nepal argues that India should contribute more due to the larger irrigation benefits it would receive, while India is willing to invest regardless of profit considerations. The Pancheshwar Multipurpose Project will not only generate electricity but also provide irrigation to a significant amount of land in both Nepal and India, as well as other incidental benefits like flood protection.

Man booked for entering K’taka Legislative Assembly impersonating MLA

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Man booked for entering K’taka Legislative Assembly impersonating MLA

Man arrested for acting like an MLA to enter the Karnataka Legislative Assembly

Police have registered a case against a man who impersonated an MLA and gained access to the Karnataka Legislative Assembly during the budget presentation. The incident prompted the state Home Minister, G. Parameshwara, to demand a report on the security breach. The accused, identified as C. D. Thipperudrappa, also known as Kariyappa, hails from Doddapete in Molakalmuru taluk, Chitradurga district.

Man booked for entering K’taka Legislative Assembly impersonating MLA
Preliminary investigations revealed that Kariyappa is mentally unstable and claims to be an advocate

Preliminary investigations revealed that Kariyappa is mentally unstable and claims to be an advocate. On Friday, he entered the Vidhan Soudha (state Assembly) through the east gate and accompanied the MLAs. When the marshals stopped him, he falsely identified himself as an MLA and asked if they recognized him. Assuming he was a first-time MLA, the security staff allowed him to proceed. Kariyappa occupied the seat of JD(S) MLA Karemma G Nayak but aroused suspicion, leading JD(S) MLA Sharanagouda Kandakur to bring the matter to the speaker’s attention.

Before authorities could take action, Kariyappa managed to leave the seat. However, the police apprehended him on the Vidhana Soudha premises. He occupied the MLA’s seat and attended the session for approximately 15 minutes. The initial inquiry revealed that he had obtained a Karnataka Legislative Assembly visitor’s pass and visited Vidhana Soudha on July 3. Kariyappa has been charged with trespassing and impersonation. No suspicious items were found in his possession, according to the police.

Manoj Muntashir finally tenders ‘unconditional apologies’ for ‘Adipurush’

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Manoj Muntashir finally tenders ‘unconditional apologies’ for ‘Adipurush’

‘Unconditional apologies’ for ‘Adipurush’ are eventually made by Manoj Muntashir.

After facing criticism from the audience and receiving a lukewarm response at the box office for the movie ‘Adipurush‘, dialogue writer Manoj Muntashir Shukla took to social media to apologize profusely. He invoked ‘Prabhu Bajrang Bali’ while expressing his remorse. Manoj Muntashir acknowledged that people’s emotions were hurt by the film and extended his unconditional apologies. He prayed for unity and strength to serve the sacred Sanatan and the nation.

Manoj Muntashir finally tenders ‘unconditional apologies’ for ‘Adipurush’
Netizens responded to his post with acceptance and positive messages

Netizens responded to his post with acceptance and positive messages, praising his apology and wishing for his well-being. The film, directed by Om Raut and made with a budget of Rs 500 crore, faced criticism for its direction, VFX, dialogues, and screenplay. In response to the feedback from the public and the audience, the makers made alterations to the dialogues.

According to IMDb, the film starring Prabhas grossed a worldwide collection of Rs 410 crore, with Rs 128.50 crore coming from the two Telugu-speaking states. ‘Adipurush’ was released in Hindi and Telugu and featured Prabhas, Kriti Sanon, Sunny Singh, Devdatta Nage, Saif Ali Khan, Vatsal Sheth, and Sonal Chauhan in key roles.

Ambati Rayudu pulls out of Major League Cricket’s inaugural season

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Ambati Rayudu pulls out of Major League Cricket’s inaugural season

Ambati Rayudu withdraws from the inaugural season of Major League Cricket.

Ambati Rayudu, the former Indian cricketer, has withdrawn from the inaugural season of Major League Cricket (MLC) citing personal reasons, according to his team, Texas Super Kings. Ambati Rayudu, who recently retired from cricket after winning the 2023 Indian Premier League with the Chennai Super Kings, was all set to become the first Indian international player to join the Texas Super Kings in the MLC.

Ambati Rayudu pulls out of Major League Cricket's inaugural season
Rayudu would not be able to participate in the first season

The team made the announcement on Twitter, stating that Rayudu would not be able to participate in the first season of the MLC due to personal reasons but will continue to support the team from India. The Texas Super Kings, owned by the same owners as the Chennai Super Kings franchise, will kick off their MLC 2023 campaign against the Los Angeles Knight Riders in Texas.

Alibaba & Tencent receives significant fines from China

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Alibaba & Tencent receives significant fines from China

China slaps hefty fines on Alibaba, Tencent as Part of a regulatory crackdown

As part of China’s ongoing regulatory crackdown, Tencent and Alibaba, the country’s two digital payments giants, have been hit with significant penalties. Tencent and its payments subsidiary Tenpay were fined around 2.99 billion yuan ($410 million) by the People’s Bank of China for past regulatory breaches related to payment services in mainland China.

Alibaba & Tencent receives significant fines from China
The penalty is not expected to have a material adverse impact

Tencent stated that it believes financial regulators will now focus on normalized regulation, promoting healthy development in the platform economy and supporting platform companies in financial inclusion. The penalty is not expected to have a material adverse impact on Tencent’s overall operations and financial position since Tenpay has completed self-inspections and made corresponding rectifications.

Similarly, China’s central bank announced a fine of 7.123 billion yuan (approximately $1 billion) on Ant Group, Alibaba’s fintech affiliate. The fine was imposed for various illegal activities, including corporate governance, consumer protection, banking and insurance practices, payments and settlement, anti-money laundering, and fund sales.

Alibaba had previously announced plans to split the company into six business units, with each unit exploring fundraising or IPOs to unlock shareholder value and foster market competitiveness. Alibaba’s share price has been affected by slowing economic growth and increased regulatory scrutiny. Jack Ma, Alibaba’s founder, who had been absent from the public eye, resurfaced a few times this year after keeping a low profile since his criticism of China’s financial regulators in 2020. China had canceled Ant Group’s record-breaking IPO in late 2020.

Threads has announced the launch of a beta program for Android users.

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Threads has announced the launch of a beta program for Android users.

Meta launches Android beta for Threads that reached 70 mn users

Threads, the Twitter rival owned by Meta (formerly Facebook), has announced the launch of a beta program for Android users. This program aims to provide early access to new features and bug fixes while collecting user data to improve the app. The invitation for the beta program highlights the need for users to accept potential instability in the earlier builds.

Threads has announced the launch of a beta program for Android users.
Android users can sign up for the beta without having to wait

Interested Android users can sign up for the beta without having to wait. The company engineer emphasized that it has surpassed expectations with 70 million sign-ups, according to Meta Founder and CEO Mark Zuckerberg. The CEO of Instagram, Adam Mosseri, explained that Threads was developed as an open and community-focused platform given the circumstances at the time.

Currently, Threads lack certain features such as direct messages, a “Following” feed, a full web version, and a chronological feed. The app is available in 100 countries on both iOS and Android, except in the European Union due to data privacy regulations.

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