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Asia-Pacific
Channel NewsAsia

India opposition parties hold mock impeachment of poll chief

Cutouts of Congress leaders put up outside Ramlila Maidan ahead of the "Save Democracy" march to be led by the Indian opposition leader Rahul Gandhi, amid calls for Chief Election Commissioner Gyanesh Kumar to resign, in New Delhi on Oct 31, 2026. (Photo: REUTERS/Anushree Fadnavis) NEW DELHI: India's political opposition staged a symbolic impeachment of the election commissioner on Saturday (Oct 31) to protest against a revision of voter lists that they say could unfairly benefit the ruling party. The nationwide revision of electoral rolls has sparked political disputes and street protests in the world's largest democracy over the last month. The Election Commission says the initiative is necessary to ensure accurate voter lists, but the opposition claims it is being manipulated to favour Prime Minister Narendra Modi's Bharatiya Janata Party (BJP). CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less On Saturday, opposition parties gathered at the residence of Congress president Mallikarjun Kharge in the capital New Delhi, re-enacting a parliamentary session. They held mock impeachment proceedings, which have no constitutional or legal force, against Chief Election Commissioner Gyanesh Kumar. "The motion we have brought forward today is aimed at safeguarding the dignity of a constitutional institution," Kharge said. "Our intention is for the Election Commission to function impartially, in line with the spirit of the constitution." Under the constitution, the chief election commissioner can only be removed through a parliamentary process requiring a special majority. Senior Congress leader Rahul Gandhi said the opposition had resorted to the symbolic exercise as they "have nowhere else to go". "We have no other option. Every single institution... is closed for us," Gandhi said. The event came a day before a major opposition rally in Delhi backed by the Cockroach Janta Party, an online youth-led movement that also supports the campaign against the voter-roll revision.

India opposition parties hold mock impeachment of poll chief
Asia-Pacific
The Straits Times

Expensive but worth it: Exhausted by the digital world, I turn to grandma hobbies

The writer has turned to analogue activities such as letter writing, scrapbooking, and film and polaroid photography. Sign up for ST InvestMe to find out how you can plan for your dream life in the next financial literacy course on Nov 19. SINGAPORE – I once spent $70 just printing out photos that I then spent hours meticulously arranging on sheets of A4 paper. Yes, they already existed digitally in my phone and on Instagram, but I wanted to scrapbook them and have some tangible memories of my year abroad.

Expensive but worth it: Exhausted by the digital world, I turn to grandma hobbies
Asia
The Hindu BusinessLine

Trump loses lawsuit against Wall Street Journal over Epstein birthday letter story

A federal judge has thrown out President Donald Trump’s multibillion-dollar lawsuit against The Wall Street Journal and media mogul Rupert Murdoch over a story reporting on his ties to wealthy financier Jeffrey Epstein. US District Judge Darrin Gayles in Miami dismissed the suit with prejudice on Saturday, ruling that the president did not prove the defendants made defamatory statements with actual malice. The ruling said the lawsuit was “grasping at straws” as it attempted to “manufacture” flaws in the Journal’s investigative reporting. When a case is thrown out “with prejudice,” it cannot be refiled again and the dismissal is permanent and incontrovertible. The lawsuit was over a story the Journal published last year describing a sexually suggestive letter that the paper said bore Trump’s name and was included in a 2003 album compiled for Epstein’s 50th birthday. The letter was reportedly collected by disgraced British socialite Ghislaine Maxwell as part of a birthday album for Epstein years before he was first arrested in 2006 and subsequently had a falling-out with Trump. The letter bearing Trump’s name includes text framed by the outline of what appears to be a hand-drawn naked woman and ends with, “Happy Birthday -- and may every day be another wonderful secret,” according to the newspaper. Trump denied writing it and called the story “false, malicious, and defamatory.” The lawsuit, filed in federal court in Miami, accused the paper and its reporters of having “knowingly and recklessly” published “numerous false, defamatory, and disparaging statements,” which, it alleged, caused “overwhelming financial and reputational harm” to the president. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Trump loses lawsuit against Wall Street Journal over Epstein birthday letter story
Asia
The Hindu BusinessLine

IDBI-Fairfax mega deal takes PE-VC investments to $8 billion in October

Private Equity-Venture Capital (PE-VC) investments surged to over $8 billion across 106 deals in October led by the $5.6 billion equity investment in IDBI Bank by Canada’s Fairfax Financial Holdings. The mega deal helped October 2026 record the highest monthly investment level in over four years surpassing last month’s high of $6.1 billion across 125 deals, as per data from market research firm Venture Intelligence. On a year-on-year (y-o-y) basis, investments went up nearly 50 per cent from $5.5 billion across 136 deals in October 2025. Out of the total investments, mega deals (over $100 million) accounted for $7 billion across 5 deals. Other major mega deals during the month included global investment firm KKR’s $632 million investment in Gentari, the Indian renewable energy arm of Malaysia’s state-owned PETRONAS and Brookfield’s $450 million acquisition of ESR India’s operating logistics and industrial portfolio. Arun Natarajan, Founder, Venture Intelligence said that the IDBI Fairfax deal was the largest private equity investment in India since 2020. “While the mega deal majorly boosted October investment figures, the month also saw continued focus on infrastructure sectors, especially by large private equity investors,” he added. India’s 10-year G-Sec yield could settle in the 6.75-7.00% range by March-end 2027: SBI Ecowrap A significant spike in PE-VC activity over August, September and October after a tepid start to the year has helped investments reach $39.7 billion across 1,171 deals in 2026 (YTD), already surpassing the $39 billion across 1,425 deals in the whole of 2025. Investments in early-stage companies increased to $377 million in October 2026 from $304 million in October 2025. Growth-stage investments halved to $584 million as against $1 billion. Late-stage also saw a similar decline to $240 million in October 2026 from $1.4 billion in same month last year. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

IDBI-Fairfax mega deal takes PE-VC investments to $8 billion in October
Asia
The Hindu BusinessLine

LatentView Analytics Q2 results: PAT rises 6% to ₹48 crore

As for revenue mix from specific industry verticals, technology stood at 55%, financial services at 21% Retail & CPG at 15% and Industrial & others at 9%. LatentView Analytics, the Chennai-based AI-driven analytics, data engineering and consulting firm, reported a 6 per cent growth in consolidated net profit for the quarter ended September 2026 at ₹48.4 crore as against ₹45.7 crore in the corresponding quarter last year. “We are pleased to be back on the growth trajectory this quarter, with revenue increasing 2 per cent sequentially in dollar terms. Growth was broad-based, led by our Automotive business, alongside steady gains in Financial Services and CPG & Retail. AI continues to scale across our business, driving efficiency and productivity as we leverage top-tier tech and ecosystem partnerships to accelerate client adoption of our AI solutions,” Sonal Ramrakhiani, Chief Executive Officer, LatentView, said. Ramrakhiani added that the company anticipates some short-term impact from macroeconomic sentiment and headwinds in the technology sector. As for revenue mix from specific industry verticals, technology stood at 55 per cent, financial services at 21 per cent Retail & CPG at 15 per cent and Industrial & others at 9 per cent. North America contributed 89 per cent of the revenue while Europe recorded 2 per cent and the rest of the world with 9 per cent. LatentView reported a headcount of 1,779 employees as of Q2 FY27 with the LTM attrition rate was at 25 per cent. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

LatentView Analytics Q2 results: PAT rises 6% to ₹48 crore
Asia
The Hindu BusinessLine

Coal India’s supply to power sector in October records all-time high, grows 19%

State-run coal behemoth Coal India on Sunday said its supply to the power sector in October grew around 19 per cent year-on-year to 57.1 million tonnes (MT), recording its highest-ever monthly coal supplies to the sector. The company, the single largest coal producer in the world, had supplied 48 MT of coal to the power sector in October last year. Its supplies to the sector crossed the 57 MT mark for the first time in the company’s history, demonstrating CIL’s enhanced capacity to respond to the requirements of thermal power plants, the company said in a statement. Earlier, the monthly high of 56.5 MT was recorded in May 2024. “The achievement assumes greater significance in view of the need to augment coal stocks at thermal power plants amid rising power demand, while disruptions caused by unseasonal rainfall, the Puja festivities and impact of a cyclone-posed challenges to the operational performance,” Coal India said. Significantly, last week nearly half of domestic coal-based (DCB) power plants had critically-low coal stocks, highlighting supply-side pressures amid sustained electricity demand. Of the 176 DCB power plants, with a combined installed capacity of around 207 GW, 85 had critical coal stocks as of October 25. CIL recorded the highest-ever monthly coal supplies to the power sector last month backed by the company’s highest-ever levels of coal production for the month of October in any financial year, reflecting a sharp acceleration in mining activity following the monsoon season. The company’s coal production in October FY27 reached 67.2 MT, growing 19.3 per cent y-o-y and setting the new record for the month. The previous October high of 62.47 MT was recorded in October 2024. According to a stock exchange filing, all the coal-producing subsidiaries of Coal India, except Northern Coalfields (NCL), recorded a strong growth in production last month. NCL’s output in October 2026 fell 4.3 per cent y-o-y at 11.4 MT. Among CIL’s seven coal-producing subsidiaries, Mahanadi Coalfields (MCL) and South Eastern Coalfields (SECL), the largest two in terms of outputs, posted 25.34 per cent and 17.4 per cent y-o-y growth in production at 20.8 MT and 14.3 MT, respectively, for the month. In the month of October 2026, total coal offtake for the company stood at 70.3 MT, posting a growth of 18.7 per cent y-o-y. In the statement, the miner said its monthly coal supplies crossed the 70 MT mark for the first time, surpassing the previous monthly record of 69.4 MT achieved in March 2026. MCL crossed the 20 MT monthly supply mark for the first time in October, contributing significantly to this landmark achievement. CIL had first reached the 60 MT monthly supply mark in March 2021, and supplies had hovered between 60-69 MT since then. “With both coal production and offtake gaining momentum, we are on the cusp of seeing stock accretion, both at power plant ends and at pit head,” a senior Coal India official said. CIL reported strong demand in its e-auction sales for October 2026, allocating 91 per cent of the 129.24 lakh tonnes coal offered under the single-window mode-agnostic (SWMA) route. It allocated 118 lakh tonnes during the month. Its e-auction premium rose to 140 per cent over notified prices. The coal behemoth said it achieved another historic milestone in railway coal evacuation, with the company recording an average power-sector rake loading of 310 rakes per day during October FY27, the highest-ever monthly average in the company’s history. The 300-rake-per-day mark was last surpassed in March, 2025, when the average loading stood at 302.8 rakes per day. “What is more remarkable about these achievements is that the previous supply and railway rake records corresponding to the month of March, which happens to be the peak performance month of any fiscal, are being surpassed in the month of October,” the official added.

Coal India’s supply to power sector in October records all-time high, grows 19%
Asia
The Hindu BusinessLine

Suraj Estate Developers Q2 results: Profit down 30%

Realty firm Suraj Estate Developers Ltd on Saturday reported a 30 per cent decline in consolidated net profit to ₹23.06 crore for the September quarter on higher expenses. Total income rose to 171.08 crore in the second quarter of this fiscal year from ₹145.42 crore in the corresponding period of the preceding year, according to a regulatory filing. The expenses rose to ₹140.12 crore from ₹101.33 crore during the period under review. Mumbai-based Suraj Estate Developers Ltd is one of the leading realty firms in the country. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Suraj Estate Developers Q2 results: Profit down 30%
Asia
The Hindu BusinessLine

At G20 meeting, Jaishankar pushes for transparent and diversified global supply chains

Japan's Foreign Minister Toshimitsu Motegi, India's External Affairs Minister S. Jaishankar, US Secretary of State Marco Rubio and Australia's Foreign Minister Penny Wong pose for photographs at the Quad Foreign Ministers’ Meeting on the sidelines of the G20 foreign ministers' meeting in Atlanta, Georgia, US, October 31, 2026. | Photo Credit: ERIK S. LESSER External Affairs Minister S Jaishankar on Saturday called on the G20 to resist “predatory practices”, promote “the right to industrialise” and work towards the “de-politicisation of markets” as the grouping’s Foreign Ministers’ Meeting in Atlanta concluded with a session on supply chains. “The @G20org #Atlanta today concluded with the Plenary III focused on Supply Chains,” EAM Jaishankar said in a post on X after the session. Outlining the issues he raised, he said, “Securing supply chains and ensuring their resilience is today central to the well-being of the global economy.” “The right to industrialise must be promoted; predatory practices and targeting competition should be firmly resisted,” he said. EAM Jaishankar said, “Diversification and de-risking, including in connectivity, is the key to supply chain resilience, threatened by pandemics, conflicts, climate events and mishaps.” He also said, “De-concentration of the global economy and optimisation of production across geographies can discourage the weaponisation of finance, resources, production and market share.” “G20 countries must reconcile their national interests for the collective good by promoting transparent and multiple supply chains, making the global economy truly multi-stakeholder,” EAM Jaishankar said. US Secretary of State Marco Rubio, who hosted the meeting, likewise placed supply chains at the centre of the closing session. “At the closing @G20org Foreign Ministers’ Meeting, I made clear to our partners that secure supply chains are essential for growth,” Rubio said in a post on X. “Critical trade routes, including the Strait of Hormuz and the Bab al-Mandeb Strait, must remain secure and open to commerce. And we must continue to strengthen and expand critical mineral supply chains to protect our future,” he said. Earlier on Saturday, EAM Jaishankar took part in the Quad Foreign Ministers’ Meeting in Atlanta with Rubio, Japan’s Foreign Minister Toshimitsu Motegi and Australia’s Foreign Minister Penny Wong.

At G20 meeting, Jaishankar pushes for transparent and diversified global supply chains
North America
Fortune

AI boom hits a wall on Wall Street as OpenAI cuts fundraising target while Meta gets a credit warning over its cash flow, spending and monetization

The seemingly endless gusher of capital that’s been showered on Silicon Valley during the AI boom may be coming to an end soon as Wall Street pushes back on massive spending plans. Following a brutal selloff in tech stocks over the past week, OpenAI slashed the target on its latest fundraising round to $20 billion from $30 billion, sources told the Financial Times. That also cut its expected valuation to $1.25 trillion from $1.4 trillion. The funding round was also upstaged by Anthropic, according to the report, as OpenAI’s arch-rival prepares to go public next month. Ahead of its IPO, Anthropic filed an S-1 on Monday that showed revenue has soared and its cash flow turned positive in the first half of this year. The timing couldn’t have been worse. Quarterly earnings reports from hyperscalers this week spooked investors. Alphabet saw its cash flow sink deeper into negative territory in the third quarter, with the Google parent also joining Meta and Amazon in charging ahead with massive spending plans. On Thursday, Alphabet fell about 12%, its worst day on record. To be sure, there were other positive signs as well, in addition to Anthropic’s bullish S-1. Microsoft reported strong cloud growth and stayed cash flow positive, though it said its capital spending will accelerate, while AI chip maker SK Hynix blew away earnings forecasts. But the narrative had already turned bearish, especially after AI debt fears sent shares and bonds of “neocloud” companies tumbling earlier this month. At the same time, OpenAI was seeking more capital just as other AI giants tapped financial markets heavily. This past week alone, Elon Musk said SpaceX closed $40 billion in debt financing, Meta announced plans to raise $95 billion in equity, and Microsoft raised $25 billion in a bond sale. The prospect of hyperscalers continuing to hemorrhage funds was too much for S&P Global, which cut its outlook on Meta to “negative” from “stable” late Friday, citing negative cash flow and uncertainty around capital expenditure ​plans. The credit ratings agency maintained Meta at AA- but warned ⁠the social media leader’s leverage could top 1.0x as soon as 2027, which is the downgrade threshold for the current rating. That’s up from about 0.1x in 2025 and primarily reflects its strategy of leasing data center capacity rather than from its debt issuance. Meanwhile, S&P sees Meta’s capex reaching $140 billion this year, topping $225 billion in 2027, hitting $252 billion in 2028, and then flattening out from there. As a result, it expects free operating cash flow to remain negative: -$22 billion this year, -$71 billion in 2027, and -$39 billion in 2028. Of course, other hyperscalers are spending heavily and running cash deficits, but S&P also said Meta’s ability to monetize its AI investments is more limited than that of its peers. “While we believe the company intends to monetize these investments via improved advertising tools that support faster ad revenue growth, as well as from the development of new revenue streams stemming from its introduction of agentic apps such as Muse, it is unclear when these revenue streams will generate material contributions that exceed their rising costs over the next few years,” S&P said.

AI boom hits a wall on Wall Street as OpenAI cuts fundraising target while Meta gets a credit warning over its cash flow, spending and monetization