Week 66

Happy Ganesh Chaturthi 🥳

September 23, 2023

Good Morning,

Welcome! I hope you have your “Subah Kee Chai” ready and are excited to read your weekly 10-minute digest.

Rains, Rains, Rains! We're all waiting for the day I can write about something else in our newsletter. But hey, it is what it is. The Mumbai roads have had more traffic than usual this past week, and that is some statement to make given that there never is not any traffic! If you didn't understand what I said, maybe you should read more of our newsletter.

This week's news was highlighted with the bad blood between India and Canada. Banned visas, accusations and whatnot! Make sure to stay till the end of the newsletter to read all about this week's news!

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I hope you enjoy today's newsletter and have an amazing Sunday!

Now let’s get into the news.

Markets

Market News

The stock market remained closed on Tuesday due to Ganesh Chaturthi.

Thursday's trading session delivered a rollercoaster ride for domestic benchmark indices, with a sharp downturn as the closing bell approached. The NSE Nifty 50 took a steep dive of 159.05 points, marking a 0.90% decline, ultimately resting at 19,742.35. Meanwhile, its counterpart, the BSE Sensex, also experienced a substantial dip of 570.60 points, down by 0.85%, closing at 66,230.24.

The sea of red wasn't limited to these indices alone; it extended its gloomy embrace to border indices and various sectors. The Bank Nifty index bore the brunt, shedding a significant 760.75 points to land at 44,623.85. Among the sectors, PSU Bank, Auto, Private Bank, and Realty stocks bore the weight of the highest corrections, painting a picture of a tumultuous day in the world of finance.

Canada / India - Love or Hate?

You're probably wondering what all the fuss is about. Everywhere you go the news cannot stop mentioning Justin Trudeau and Canada, Well here's everything you need to know about the dispute between the two countries.The passing of a separatist leader in British Columbia has further exacerbated the already strained relations between the two nations. This Monday, Canadian Prime Minister Justin Trudeau made a startling accusation, claiming that government agents from India had played a role in the assassination of a Sikh community leader in British Columbia back in June. These allegations have deepened the rift between Canada and India, intensifying an existing political dispute between the two nations that were already on uneasy terms.The late Mr Nijjar, the individual who tragically lost his life, was a self-proclaimed "Sikh nationalist" who vocally advocated for and endorsed the Sikh community's right to self-determination and the independence of Indian-occupied Punjab, ideally through a future referendum. This perspective was outlined in an open letter he penned to the Canadian government back in 2016. Furthermore, he held a prominent role in British Columbia, actively mobilizing support for a Canadian referendum that aimed to endorse the creation of a sovereign nation called Khalistan, carved out of a portion of Punjab State.

Word of the week!

Learn something new! The word for this week is:

pontificate

" pahn-TIF-uh-kayt"

To pontificate is to speak or express an opinion about something in a pompous or dogmatic way.

Stan loves to hear himself talk and will often pontificate on even the most trivial issues.

Woman's reservation bill

One of the biggest advancements in the modern world has been women's empowerment; clearly, this is just the beginning! The Indian Parliament has just passed the women's reservation bill and this is all the information you'll need.In a historic moment on Thursday night, the Constitution (One Hundred and Twenty-Eighth Amendment) Bill, 2023, which aims to reserve 33% of seats in both the Lok Sabha and state Assemblies for women, achieved unanimous approval in the Rajya Sabha. This landmark decision came just a day after the bill had successfully passed through the Lok Sabha. Prime Minister Narendra Modi marked the occasion with a group photograph alongside women Members of Parliament.In a post on social media platform X, Prime Minister Modi expressed, "A defining moment in our nation's democratic journey! Congratulations to 140 crore Indians. I thank all the Rajya Sabha MPs who voted for the Nari Shakti Vandan Adhiniyam. Such unanimous support is indeed gladdening."

China's genetic arms race 🤯

In the year 2020, amidst widespread lockdowns across European countries due to the COVID-19 pandemic, an

aircraft carrying a Chinese innovation known as the Fire-Eye

touched down in the Serbian capital.

As reported by The Washington Post, the

Fire-Eye was a sophisticated portable laboratory capable of detecting coronavirus infections by analyzing minute genetic traces

left by the deadly virus. Serbians quickly discovered that this was one of the remarkable capabilities of the Fire-Eye.

The Chinese creators of the portable lab claimed that it not only decoded the genetic information of viruses but also possessed the capability to decipher the genetic instructions present within the cells of every individual on Earth.

In late 2021, amid the ongoing COVID-19 pandemic, Serbian officials announced their collaboration with a Chinese company to establish a permanent facility based on this lab. The initiative aimed to collect and manage the complete genetic profiles, or blueprints, of Serbian citizens.

Prime Minister of Serbia, Ana Brnabic, expressed her gratitude to China, acknowledging that they had provided Belgrade with the "most advanced institute for precision medicine and genetics in the region."