On Tuesday, India’s Finance Minister Nirmala Sitharaman announced the establishment of a ₹10 billion ($119 million) venture capital fund to support its space industry. This program is part of India’s ambition to gain a greater share of the global space market.
Earlier this year, Prime Minister Narendra Modi’s government permitted 100% foreign direct investment (FDI) in satellite system manufacture without previous government clearance and loosened limitations on launch vehicles.
“In our ongoing efforts to expand the space economy by five times over the next decade, a venture capital fund of ₹1,000 crore (10 billion rupees) will be established,” Sitharaman added.
India has been privatising space launches and aims to raise its share of the global launch business by fivefold. India presently accounts for approximately 2% of the worldwide space launch business, which is predicted to be worth $47.3 billion by 2032.
Private space industry have applauded the government’s proposal, seeing the fund as a driver for more investment in the area. According to A.K. Bhatt, Director General of the Indian Space Association, the launch of a ₹1,000 crore VC fund is a positive move towards tackling financial issues for new businesses in the capital-intensive industry.
The Biden-Harris Administration has allocated more than $4.3 billion in Climate Pollution Reduction Grants, administered by the Environmental Protection Agency (EPA), to fund local climate action initiatives in 30 states, including one tribal town. This project, part of President Biden’s Investing in America agenda, seeks to address the climate problem, reduce air pollution, promote environmental justice, and expedite the transition to renewable energy.
The grants aim to reduce greenhouse gas emissions in six sectors: transportation, electric power, buildings, industry, agriculture, and waste management. The chosen projects are anticipated to reduce greenhouse gas emissions by a maximum of 971 million metric tonnes by the year 2050, which is equivalent to the energy consumption of 5 million households over 25 years.
Notable beneficiaries include the RISE PA project in Pennsylvania, which was granted $396 million to decrease industrial emissions, and the South Coast Air Quality Management District in California, which received approximately $500 million to reduce carbon emissions in transportation.
These grants are under the Justice40 Initiative of the Biden Administration, which guarantees that 40% of the benefits are directed towards underprivileged communities. The Environmental Protection Agency (EPA) will allocate the funds at a later date this year.
NASA’s Curiosity rover discovered pure yellow sulphur on Mars. On May 30, while investigating Gediz Vallis, the rover discovered a rock with sulphur crystals. This is the first identification of pure sulphur on the Martian surface, as prior observations contained sulphur mixed with other components.
Following this finding, the rover discovered an additional pure sulphur crystal nearby. Ashwin Vasavada, a scientist at NASA’s Jet Propulsion Laboratory, said, “It shouldn’t be there, so now we have to explain it,” emphasising the thrill of discovering unexpected finds in planetary research.
Curiosity then moved on to a larger rock, named Mammoth Lakes, for further investigation, as the initial crystal was too small for further research. The rover dug into the new rock to collect samples for further analysis.
Since its arrival 12 years ago, Curiosity has made major contributions to our understanding of Mars. Key discoveries include the identification of numerous rocks, channels, and craters, with noteworthy finds at Gediz Vallis indicating the presence of water on Mars. Recent discoveries, like manganese oxide-containing rocks, suggest that Mars formerly had an oxygen-rich atmosphere, implying that life could have existed there.
PSG Hospital in Coimbatore has set a new record by completing 10 robotic surgeries in a single 24-hour period, making it the first Indian hospital to accomplish this feat. The surgeries, performed with the da Vinci robotic surgical equipment, included three hernia repairs, six gall bladder removals, and one minimally invasive surgery for uterine cancer.
Surprisingly, all patients healed fully and were discharged within four days, demonstrating the effectiveness of this device.
Dr. Bhuvaneswaran JS, Director of PSG Hospitals, lauded the outcome as the result of outstanding collaboration among surgeons, anaesthesia teams, nurses, and support personnel. “This remarkable achievement was made possible through our collaborative efforts,” he told me. The da Vinci system’s precision and least intrusive technique help to shorten recovery times and reduce postoperative pain.
This development in robotic surgery is not limited to metropolitan areas, as PSG Hospital has demonstrated its promise in non-metro locations. Dr. S Rajesh Kumar emphasised the advantages of robotic-assisted surgery, citing enhanced precision and visualisation as contributing to better patient outcomes.
Dr. Rajkumar K S, who oversaw the uterine cancer surgery, emphasised the technology’s benefits in lowering infection risks and boosting faster healing through reduced incision sizes.
Japan plans to increase jet fuel output and imports to satisfy increased flight demand during a tourism boom, according to a draft government plan released on Tuesday. This strategy solves a jet fuel constraint that is preventing commercial planes from expanding to new international routes.
Tourism to Japan increased after visa-free travel resumed in late 2022, following tight COVID-19 border controls, with the yen falling to a 38-year low, adding to the country’s attraction. The proposal, published by the industry and transportation ministries, calls for analysing fuel demand growth at each airport and ensuring enough supply by expanding local production and imports.
The strategy also includes improving transportation systems by utilising the maximum capacity of trucks and ships. Additionally, it recommends increasing the number of tanks at refineries and airports, securing additional trucks and ships, and replacing ageing cargo handling equipment.
Japanese refiners have lowered oil processing capacity over the last decade due to declining domestic demand caused by an ageing population, a declining birthrate, and a shift to fuel-efficient automobiles.
A ministry officially said, “Unlike other oil products, we expect jet fuel demand to increase as the government targets 60 million foreign tourists by 2030, so we must take a long-term approach.”
Indore, known as India’s cleanest city, has added another feather to its cap by setting a new Guinness World Record for the most trees planted by a group in 24 hours. Indore planted more than 1.1 million trees between July 13 and 14, 2024, as part of Prime Minister Narendra Modi’s ‘Ek Ped Maa Ke Naam’ initiative. This initiative surpasses the previous record of 921,730 set in September 2023 by Assam’s Forest Department.
The programme, which aims to honour mothers and Mother Earth by planting trees, received significant support. The Union Home Minister joined the campaign by planting a sapling in the BSF Academy’s Revati Range, where the plantation drive included nine zones and 100 sub-zones.
More than 2,000 BSF jawans, over 100 NRIs, NCC cadets from 50 schools, and a large number of individuals and social organisations all participated in this tremendous endeavour.
The plantation included a wide variety of trees, from long-lived species like Banyan and Neem to medicinal plants like Guava and Amla. Experts predict that Indore’s record-breaking success will inspire similar large-scale environmental projects across the country, helping India realise its ambitious goals of increasing forest cover and combating climate change.
Dubai, July 10th, 2024 – The CEO Clubs Round Table Meeting, held on July 10th, 2024, prominently featured their esteemed member Dr. Rizwan Adatia, Chairman of RAF Global. Dr. Adatia, recognized as an accomplished entrepreneur with businesses spanning 10 African countries and overseeing a workforce of over 5,000, was highlighted for his dedication to community development and grassroots initiatives aimed at uplifting rural communities in Africa and India.
The session delivered a compelling presentation, shedding light on COGEF Group and RAF Global. The COGEF Group is a rapidly growing trading network dedicated to forging enduring relationships between buyers and suppliers worldwide. RAF Global is committed to enhancing the quality of life for marginalized communities in Asia and Africa through the strategic use of resources, technology, and grassroots initiatives to drive sustainable change.
Key outcomes of RAF Global’s initiatives discussed included Economic Integration and Livelihood Support for Women and Youth (EILSWY), Climate Smart Agriculture (CSA), Good Governance Programme, Education and Technology Programme (ETP), Health and Nutrition Initiatives (HNI).
The session also covered essential aspects of personal development, emphasizing the benefits of early rising, meditation, studying various religious texts, visualization, harnessing the power of the subconscious mind, prayer, and physical exercise. Dr. Adatia shared his personal routine, highlighting the significance of dedicating the early morning hours, from 3 am to 7 am, to these practices.
The event was attended by over 20 participants, including notable CEO Clubs members such as Mr. Umesh Kumar Srivastava, Director/CEO, Vin Metal Synergies FZE, Ms. Archana Khan, Managing Director, ARCHIVISARO GROUP FZE, Mr. Shabbir Rajarali Vakil, Chairman, Al Vakil Group, Mr. Samir Sinha, CEO, PRECISE Merchandise Trading LLC, Mr. Sheetal Soni, Managing Partner, MICS International and Mr. Asif Asharaf, CEO, Zelta Design Services LLC.
The interactive Q&A session delved into topics such as funding, investment opportunities, business prospects in Africa, and the integration of Middle Eastern countries into African business operations. The event provided a platform for insightful discussions, networking, and potential collaborations, further strengthening the ties between members of the CEO Clubs and the African business community.
In addition to the discussed topics, CEO Clubs members also explored innovative approaches to social entrepreneurship and how businesses can integrate sustainable practices into their operations. The importance of cross-cultural understanding and cooperation in global business ventures was emphasized, highlighting the need for inclusive leadership and ethical business practices. Moreover, the session provided a platform for members to share their experiences and success stories, fostering a sense of community and collaboration among the diverse group of entrepreneurs and executives.
Dr. Tariq Nizami, Founder & CEO of CEO Clubs Network stated “We are delighted to have Dr. Rizwan Adatia share his profound insights on community development and business opportunities in Africa. This round table reaffirms our commitment to fostering meaningful connections and driving impactful change through collaboration. The knowledge shared today will undoubtedly inspire our members to explore new opportunities and contribute to sustainable development.”
Ms. Sarah Dong, Managing Partner of CEO Clubs Network passionately concluded the session stating “Today’s session with Dr. Rizwan Adatia has been incredibly enlightening for our members. We are inspired by his dedication to sustainable development and look forward to exploring new avenues for growth and collaboration. The insights and strategies discussed today will help us empower communities and drive positive change in our respective fields and we are looking forward to more such round table meetings.”
About CEO Clubs Network:
CEO Clubs Network is an award-winning, membership-based international organization with members from various industries and chapters across the globe. They focus on connecting C-level executives, business owners, and government officials and enabling them to share experiences, explore business collaboration opportunities and build business relationships. Their proven track record of innovative CEO Clubs’ Events and 18 years of member engagement programs have made them a trusted business network and a driving force for global business connections. The 7th Edition Burj CEO Awards 2024 trade marked by CEO Clubs Network, often hailed as “Oscars of the Business World” is set to take place at Istanbul, Turkey from October 22-26.
On July 6, Astana, the capital of Kazakhstan, marked its 26th anniversary, a momentous day in the history and development of the nation. Astana, which combined Asian and European influences to be named a UNESCO City of Peace in 1999, has grown to be an important Eurasian metropolis.
The International Specialised Exhibition EXPO 2017 has contributed to the city’s continued prosperity as a key diplomatic hub and popular tourist destination. Astana’s dynamic skyline is a reflection of its ongoing change and dedication to sustainable growth.
With daily flights and a 14-day visa-free period, the city draws large numbers of visitors and offers a distinctive blend of European and Asian architecture and culture. Its appeal was further enhanced when it was designated as a free economic zone in 1999, which sparked rapid economic expansion.
Celebrating Astana’s dynamic development and growing worldwide status, Capital City Day was declared a national holiday in 2008. The city encourages international communication while advancing efforts for sustainable development, trade, security, and collaboration. EXPO 2017 considerably increased tourism and the economy, securing Astana’s place in the world economy.
Astana’s skyline is constantly changing, with new tall buildings, wide squares, and parks.
The room opening onto Buckingham Palace’s iconic balcony, where the royal family waves to the public during major events, is now open for public tours after a renovation. The “East Wing Highlights” tours were sold out in a single day. In addition to the $50 ordinary Buckingham Palace tour ticket, standard adult tickets are roughly $90.
Visitors will witness the Centre Room, which leads to the well-known balcony that is home to historical artefacts such as silk wall hangings from the 18th century that were sent to Queen Victoria as a Diamond Jubilee gift from Emperor Guangxu of China in 1897.
According to Nicola Turner Inman, the Royal Collection Trust’s curator of ornamental arts, Prince Albert proposed the balcony as a way for royals to interact with the public. When troops were sent off for the Crimean War, it was first used in 1851.
A tour through the Principal Corridor, which leads to the Centre Room and features well-known artworks, is part of the trip. The Yellow Drawing Room’s freshly repaired Chinese hand-painted wallpaper from the 18th century is another attraction for guests.
“We aim to make the collection more accessible, fulfilling the wish of His Majesty the King to open up the royal residences,” Inman stated.
President Vladimir Putin presented Prime Minister Narendra Modi with the Order of St. Andrew the Apostle, the highest civilian award in Russia, in appreciation of his outstanding efforts to strengthen the strategic alliance between Russia and India.
PM Modi thanked Putin during the event and emphasised the value of the unique and privileged strategic alliance between the two countries while dedicating the distinction to the Indian people.
Tsar Peter the Great founded the Order of St. Andrew in 1698, and it is considered the pinnacle of chivalry. Russia has a rich historical and cultural heritage. On its badge, a double-headed eagle and the words “For Faith and Loyalty” are written alongside a golden cross with blue enamel that depicts Saint Andrew the Apostle being crucified.
Recipients of the order are eminent figures in various fields who have made outstanding contributions to the security, prosperity, and sovereignty of Russia.
The order for exceptional service to Russia may also be given to heads of state from other countries. After the award, the State Central Museum of Contemporary History of Russia displays the recipient’s portrait, commissioned by the Russian president’s office as a tribute to their accomplishments.
