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The Reserve Bank of India 's ( RBI ) move to draw capital flows by allowing banks to offer higher interest rates for foreign currency deposits for a specific period appears to have had few takers in the three weeks since the plan's announcement. Bankers said the rupee's recent sharp fall and a narrowing in the interest rate gap between the US and India will make it even more difficult to attract depositors. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for In its December monetary policy, the RBI temporarily raised the ceiling on interest rates banks can offer on foreign currency non-resident accounts or FCNR (B) deposits. Yet, the relevant pages on their respective websites showed that none of the commercial lenders raised interest rates since the central bank gave them the leeway. The RBI allowed banks to raise deposits at a spread of 400 basis points over an Alternate Reference Rate (ARR) for one to three years as against 250 bps spread earlier. For deposits between three and five years, the spread is raised to 500 bps over ARR against a cap of 350 bps. One basis point is a hundredth of a percentage point. "Banks were generally not even offering deposits close to the earlier ceiling," said Madan Sabnavis, chief economist at Bank of Baroda . "Hence, the new ceiling has not made much difference for most banks." 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"Some of the niche private banks will find this useful as they cater more to the expat population. Banks typically match such deposits with foreign currency loan requirements," Sabnavis said. "With this being stable at lower levels, it may not be economical given that the rupee is falling and forex risk is borne by banks." Forex Stockpile The RBI's move to raise the ceiling is to shore up foreign exchange (forex) reserves, which have fallen by $60 billion after touching an all-time high of $706 billion at the end of September. The forex reserves have declined as the RBI is selling dollars to support the rupee, which has consistently weakened against the greenback and hit new record lows of 85.80 Friday. Bankers say the existing spreads of 250-350 bps already offer sufficient flexibility and room for banks to adjust FCNR rates upward. "The spread between US and Indian interest rates has narrowed to its lowest level in recent years, making Indian foreign currency deposits less appealing to the Indian diaspora," said VRC Reddy, head of treasury, Karur Vysya Bank . "On the other hand, demand for export credit in rupee terms remains robust due to interest subvention benefits for MSME borrowers, reducing the attractiveness of borrowing in foreign currency for export credit, particularly when hedging costs are factored in. Even when using FX deposits for rupee-based purposes, the landed cost often exceeds that of rupee deposits, further limiting their appeal." Rather, many banks are offering rates that are lower than the earlier ceiling. The ARR for dollar deposits is pegged around 4.24% for December and an increase in the ceiling by 400 bps allows lenders to offer 8.24% on dollar deposits. However, most banks are offering just about 150-200 bps above the ARR. For instance, the State Bank of India (SBI) is giving savers 5.35% on one-year rate dollar deposits under the FCNR (B) scheme, and the rate has remained the same since mid-October. This shows the rates are lower than the previous spread of 250 bps. SBI offers 3.90% for five FCNB (B) deposits, which is still lower than the revised 500 bps spread. The revised caps announced in the monetary policy review are applicable only until the end of March 2025. "The cash reserve ratio (CRR) exemption on incremental FCNR deposits may encourage banks to raise FCNR deposit rates, thereby attracting more foreign exchange flows-an essential measure in the current economic context," Reddy said. Foreign currency deposits mobilised by banks in rupee equivalent stood at ₹1.98 lakh crore as of March 31, 2024, up 46% over the previous financial year, according to the latest Trends and Progress of Banking report published last week. In 2013, the then governor, Raghuram Rajan, launched the FCNR (B) plan, wherein the RBI effectively provided banks with a cushion against risks of adverse currency movements through the period of a committed deposit. This programme helped banks mobilise nearly $30 billion in overseas deposits. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )FROM your turkey to your pudding, Christmas dinner involves a lot of preparation. A simple step can help ensure your carrots stay as fresh as ever while you juggle all your dishes. 2 A simple step can help prolong the life of your carrots as your prep for Christmas dinner (stock image) Credit: Getty If you're someone who buys their Christmas dinner ingredients in advance to avoid the crowds on the 24th, this hack is for you. Often carrots can go mouldy while they're being stored in your crisper drawer. To prevent this from happening, all you need is a one kitchen essential. Using a sheet of £1 Magnum Super Kitchen Towel , you can help prolong the life of the veg. Read More On Food Storage KEEP IT FRESH Storing food in your fridge wrong is wasting money - 5 tips to save cash DOUGH WAY You're probably storing your bread wrong during the hot weather All you need to do is wrap your carrots in dry paper towel and place them inside an airtight container. The experts at Real Life reported on this hack, revealing an extra step you should take if your carrots still have the greens attached. "If you leave the greens on the carrots, they will draw moisture and cause the roots to rot more quickly," they explained. They also recommended avoiding washing the carrots until right before you plan to cook them. Most read in Fabulous WAY TO CHLO Chloe Madeley on James Haskell split & the 'awful' last year of her marriage NO KIDDING I thought I’d be beautiful pregnant but was totally humbled WRITTEN IN THE STARS From babies to career changes, what 2025 has in store for Brit celebs EPIC FIND I was left flabbergasted by a gem I pulled out of the charity shop's 20p bin "When stored properly, whole carrots can last for about three to four weeks in the fridge," they said. You should store carrots in the coldest part of your fridge. I tried the M&S Christmas cafe menu, the gravy dip is a festive revelation Try to keep them away from foods such as avocados, apples, and tomatoes. These items generate a gas which can cause your carrots to decay prematurely and taste bitter. If you're someone who preps their Christmas veg in advance, there is also a recommend way to store your peeled carrots. Since carrot peels act as protective layer, once they are removed your carrot will dry out at a quicker rate. To prevent this, you should wash your carrots thoroughly before submerging them in cool water. Fridge or cupboard? The essential food storage guide Foods must be stored correctly to keep them fresh and prevent the spread of bacteria. Nutrition expert Birgit Brendel said bread will last longer when stored in the fridge or freezer. However, this can compromise the flavour. Storing in ceramic or pottery containers is an alternative that allows for air to flow easily and slow the growth of mould. Robert Morris, managing director of food safety consultants, Complete Food Safety, revealed the best place to store fresh fruit and vegetables. He said salad foods should be stored in the fridge drawer, but away from anything grown in the soil such as carrots, parsnips and beetroot. Tomatoes are an exception to the rule as fridges can alter the natural ripening process and diminish their taste. He also advised against putting avocados and bananas in the fridge as this will cause them to blacken quicker. If you've prepped your veg days in advance, then you should ensure the water is changed regularly. This will prevent any bacterial growth on the carrots. You should also ensure that the carrots are carefully rinsed before cooking. Read more on the Scottish Sun GHOST TOWN Former Scots shopping hotspot 'decaying' as multimillion pound revamp ‘failing’ VAX HORROR Striken Scots 'gaslit' by health bosses after complications from Covid vaccine And if you find yourself with a lot of leftover carrots after your dinner is done and dusted, don't worry. You can simply allow them time to cool down before placing them in an airtight container and storing in your fridge. 2 You should store peeled carrots in cold water to keep them fresh before cooking (stock image) Credit: GettyOracle (NYSE:ORCL) Trading Down 2% – Time to Sell?slot vip member

LOS ANGELES (AP) — The Los Angeles Lakers have traded guard D'Angelo Russell to the Brooklyn Nets for forward Dorian Finney-Smith and guard Shake Milton. The Lakers also sent forward Maxwell Lewis and three second-round draft picks to Brooklyn on Sunday. Russell averaged a career-low 12.4 points for the Lakers this season in a diminished role under new coach JJ Redick, who had vowed to unlock the point guard's formidable offensive game. Instead, Russell was removed from the starting lineup early in the season, and he struggled to make a consistent impact as a reserve, with his shooting percentages declining significantly. The 6-foot-7 Finney-Smith isn't a top scorer, but he is a steady 3-and-D wing who fills an obvious need for the Lakers. Los Angeles has had inconsistent wing play and has lacked an effective defender at the key position during the long-term injury absence of Jarred Vanderbilt , who hasn't played since Feb. 1. Finney-Smith averaged 10.4 points and 4.6 rebounds this season for the Nets, who acquired him from Dallas in the February 2023 in the trade of Kyrie Irving. Finney-Smith has been limited to five games this month by a sprained ankle and a bruised calf, but the 31-year-old played 27 minutes against San Antonio on Friday. Redick and Finney-Smith were teammates with the Mavericks during the 2020-21 season, and Redick has expressed admiration for Finney-Smith's hard-nosed game. Milton is joining his sixth NBA team in less than two years, including his third trade in 11 months. He is averaging 7.4 points and 2.4 assists per game this season as a Nets reserve. Russell is being traded by the Lakers to the Nets for the second time in his career. He also made the move in 2017 after spending his first two NBA seasons with Los Angeles, which drafted him in 2015. Russell earned the only All-Star selection of his career during his two seasons in Brooklyn. Russell has been traded five times in the past 7 1/2 years. The 10-year pro excelled for the Lakers during their run to the 2023 Western Conference finals after returning to the team in February of that season, although he got benched during that final playoff series against Denver. Russell remained a fairly consistent scorer last year while setting a new franchise record for 3-pointers made in a season, but his career-long problems with offensive inconsistency and defensive ability kept him out of Redick's plans this year. With Russell's departure, Gabe Vincent is the only true point guard left in the Lakers' rotation, although LeBron James often fills the role of initiating their offense. The Lakers (18-13) have won five of six heading into their visit from Cleveland on New Year's Eve. The trade continues a roster restructuring by the Nets, who traded former Lakers point guard Dennis Schröder to Golden State two weeks ago. Schröder was Brooklyn's third-leading scorer, while Finney-Smith was its fourth-leading scorer. The Nets have been one of the NBA's lowest-scoring teams this season, so Russell should have plenty of chances to make an offensive impact. Brooklyn has lost three of four heading into its road game against Orlando on Sunday. Russell's $18.7 million contract expires this summer, while Finney-Smith has a $15.4 million player option for the 2025-26 season. Lewis was the Lakers' second-round pick in 2023, but he played in just 41 games over the past two seasons while shuttling to the G League. AP NBA: https://apnews.com/NBATOPEKA, Kan. (AP) — Republicans made claims about illegal voting by noncitizens a centerpiece of their 2024 campaign messaging and plan to push legislation in the new Congress requiring voters to provide proof of U.S. citizenship. Yet there’s one place with a GOP supermajority where linking voting to citizenship appears to be a nonstarter: Kansas. That’s because the state has been there, done that, and all but a few Republicans would prefer not to go there again. Kansas imposed a proof-of-citizenship requirement over a decade ago that grew into one of the biggest political fiascos in the state in recent memory. The law, passed by the state Legislature in 2011 and implemented two years later, ended up blocking the voter registrations of more than 31,000 U.S. citizens who were otherwise eligible to vote. That was 12% of everyone seeking to register in Kansas for the first time. Federal courts ultimately declared the law an unconstitutional burden on voting rights, and it hasn’t been enforced since 2018. Kansas provides a cautionary tale about how pursuing an election concern that in fact is extremely rare risks disenfranchising a far greater number of people who are legally entitled to vote. The state’s top elections official, Secretary of State Scott Schwab, championed the idea as a legislator and now says states and the federal government shouldn’t touch it. RELATED COVERAGE Mayo and Dickinson power No. 8 Kansas to an 87-53 win over Brown How mass deportations could work, according to one Trump ally Drake blows 20-point lead, beats K-State on Stirtz 3-pointer in overtime 73-70 “Kansas did that 10 years ago,” said Schwab, a Republican. “It didn’t work out so well.” Steven Fish, a 45-year-old warehouse worker in eastern Kansas, said he understands the motivation behind the law. In his thinking, the state was like a store owner who fears getting robbed and installs locks. But in 2014, after the birth of his now 11-year-old son inspired him to be “a little more responsible” and follow politics, he didn’t have an acceptable copy of his birth certificate to get registered to vote in Kansas. “The locks didn’t work,” said Fish, one of nine Kansas residents who sued the state over the law. “You caught a bunch of people who didn’t do anything wrong.” A small problem, but wide support for a fix Kansas’ experience appeared to receive little if any attention outside the state as Republicans elsewhere pursued proof-of-citizenship requirements this year. Arizona enacted a requirement this year, applying it to voting for state and local elections but not for Congress or president. The Republican-led U.S. House passed a proof-of-citizenship requirement in the summer and plans to bring back similar legislation after the GOP won control of the Senate in November. In Ohio, the Republican secretary of state revised the form that poll workers use for voter eligibility challenges to require those not born in the U.S. to show naturalization papers to cast a regular ballot. A federal judge declined to block the practice days before the election. Also, sizable majorities of voters in Iowa, Kentucky, Missouri, Oklahoma, South Carolina and the presidential swing states of North Carolina and Wisconsin were inspired to amend their state constitutions’ provisions on voting even though the changes were only symbolic. Provisions that previously declared that all U.S. citizens could vote now say that only U.S. citizens can vote — a meaningless distinction with no practical effect on who is eligible. To be clear, voters already must attest to being U.S. citizens when they register to vote and noncitizens can face fines, prison and deportation if they lie and are caught. “There is nothing unconstitutional about ensuring that only American citizens can vote in American elections,” U.S. Rep. Chip Roy, of Texas, the leading sponsor of the congressional proposal, said in an email statement to The Associated Press. Why the courts rejected the Kansas citizenship rule After Kansas residents challenged their state’s law, both a federal judge and federal appeals court concluded that it violated a law limiting states to collecting only the minimum information needed to determine whether someone is eligible to vote. That’s an issue Congress could resolve. The courts ruled that with “scant” evidence of an actual problem, Kansas couldn’t justify a law that kept hundreds of eligible citizens from registering for every noncitizen who was improperly registered. A federal judge concluded that the state’s evidence showed that only 39 noncitizens had registered to vote from 1999 through 2012 — an average of just three a year. In 2013, then-Kansas Secretary of State Kris Kobach, a Republican who had built a national reputation advocating tough immigration laws, described the possibility of voting by immigrants living in the U.S. illegally as a serious threat. He was elected attorney general in 2022 and still strongly backs the idea, arguing that federal court rulings in the Kansas case “almost certainly got it wrong.” Kobach also said a key issue in the legal challenge — people being unable to fix problems with their registrations within a 90-day window — has probably been solved. “The technological challenge of how quickly can you verify someone’s citizenship is getting easier,” Kobach said. “As time goes on, it will get even easier.” Would the Kansas law stand today? The U.S. Supreme Court refused to hear the Kansas case in 2020. But in August, it split 5-4 in allowing Arizona to continue enforcing its law for voting in state and local elections while a legal challenge goes forward. Seeing the possibility of a different Supreme Court decision in the future, U.S. Rep.-elect Derek Schmidt says states and Congress should pursue proof-of-citizenship requirements. Schmidt was the Kansas attorney general when his state’s law was challenged. “If the same matter arose now and was litigated, the facts would be different,” he said in an interview. But voting rights advocates dismiss the idea that a legal challenge would turn out differently. Mark Johnson, one of the attorneys who fought the Kansas law, said opponents now have a template for a successful court fight. “We know the people we can call,” Johnson said. “We know that we’ve got the expert witnesses. We know how to try things like this.” He predicted “a flurry — a landslide — of litigation against this.” Born in Illinois but unable to register in Kansas Initially, the Kansas requirement’s impacts seemed to fall most heavily on politically unaffiliated and young voters. As of fall 2013, 57% of the voters blocked from registering were unaffiliated and 40% were under 30. But Fish was in his mid-30s, and six of the nine residents who sued over the Kansas law were 35 or older. Three even produced citizenship documents and still didn’t get registered, according to court documents. “There wasn’t a single one of us that was actually an illegal or had misinterpreted or misrepresented any information or had done anything wrong,” Fish said. He was supposed to produce his birth certificate when he sought to register in 2014 while renewing his Kansas driver’s license at an office in a strip mall in Lawrence. A clerk wouldn’t accept the copy Fish had of his birth certificate. He still doesn’t know where to find the original, having been born on an Air Force base in Illinois that closed in the 1990s. Several of the people joining Fish in the lawsuit were veterans, all born in the U.S., and Fish said he was stunned that they could be prevented from registering. Liz Azore, a senior adviser to the nonpartisan Voting Rights Lab, said millions of Americans haven’t traveled outside the U.S. and don’t have passports that might act as proof of citizenship, or don’t have ready access to their birth certificates. She and other voting rights advocates are skeptical that there are administrative fixes that will make a proof-of-citizenship law run more smoothly today than it did in Kansas a decade ago. “It’s going to cover a lot of people from all walks of life,” Avore said. “It’s going to be disenfranchising large swaths of the country.” ___ Associated Press writer Julie Carr Smyth in Columbus, Ohio, contributed to this report.

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Oregon beats San Diego State, improves to 7-0Loganimasi in World Rugby 7s Dream Team of the YearHis Highness the Amir Sheikh Tamim bin Hamad al-Thani visited Colombia on Thursday, the third stop of his Latin American tour that began in Brazil and continued in Costa Rica. In the Colombian capital, Bogotá, HH the Amir met President Gustavo Petro to discuss ways to enhance relations between the two countries in various fields and exchange views on regional and international issues of mutual interest. HH the Amir’s visit to Colombia and the discussions during the visit will strengthen bilateral relations and push them toward broader horizons. This reflects HH the Amir’s keenness to open new markets and opportunities for the Qatari economy, in line with Qatar’s National Vision 2030 and its ambitious goals to build stronger and more resilient relations with nations worldwide. The two countries enjoy distinguished relations, further reinforced by both sides’ desire to develop and elevate them across all fields, particularly in political, economic, and investment domains. These relations are based on mutual interests and respect, supported by numerous agreements signed between the two countries and official reciprocal visits at various levels. His Highess the Father Amir Sheikh Hamad bin Khalifa al-Thani visited Colombia in February 2013 as part of a tour that included Peru and Ecuador. This visit marked a pivotal moment in the development of co-operative relations. During the visit, discussions were held on bilateral relations and ways to support and develop them across various fields. A number of agreements and memorandums of understanding were signed, including an air services agreement, a memorandum of understanding in the field of sports, a memorandum of understanding between the Qatar Chamber and the Colombian Confederation of Chambers of Commerce, a memorandum of understanding in the field of mining, and a memorandum of understanding in the area of investment. Additionally, His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s visit to Colombia in July 2016 marked a new phase in bilateral relations. During this visit, an official meeting was held, chaired by HH the Amir and the then-president Juan Manuel Santos, which focused on bilateral relations in various fields and ways to enhance them in line with a shared commitment to further development, especially in the areas of investment and energy. A number of regional and international issues were also reviewed during the session. HH the Amir and Santos witnessed the signing of several agreements and memoranda of understanding at the Presidential Palace in Bogotá, including the establishment of a political consultation mechanism between the two countries, an agreement to waive visa requirements for holders of diplomatic, special, and official passports, a memorandum of understanding on legal and judicial co-operation, and a memorandum of understanding between the Qatar Investment Authority and ProColombia to enhance investment co-operation and exchange information on investment opportunities in various sectors. As part of ongoing meetings and communications between the leaderships of the two countries, HH the Amir met President Gustavo Petro last December during COP28 in Dubai. They discussed bilateral relations and ways to develop them in various fields, as well as issues on the Summit’s agenda and both countries’ efforts to combat climate change. In October, HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani received Minister of Foreign Affairs Luis Gilberto Murillo during his visit to Qatar, where they reviewed co-operation between the two countries and ways to strengthen it, as well as regional and international issues of mutual interest. To enhance political co-ordination, the first round of political consultations between the foreign ministries of Qatar and Colombia was held in Bogotá in October of last year. The Qatari side was chaired by HE the Secretary-General of the Ministry of Foreign Affairs Dr Ahmed bin Hassan al-Hammadi, while the Colombian side was led by Deputy Minister of Foreign Affairs Francisco J Coy. Also in October of last year, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi met in Doha with Colombian Minister of Foreign Affairs Luis Gilberto Murillo. During the meeting, they reviewed bilateral relations and co-operation in the energy sector between Qatar and Colombia and discussed ways to develop them further. As part of co-operation and consultations between the two countries in international forums and on global issues, representatives from the governments of Qatar, Colombia, and Finland in January 2022 emphasised the need for the swift implementation of the youth, peace, and security agenda worldwide. This was expressed in a high-level statement issued by representatives of the three governments at the conclusion of the High-Level Global Conference on Youth-Inclusive Peace Processes, which was held virtually from January 19 to 21, 2022. The High-Level Global Conference on Youth-Inclusive Peace Processes was a joint initiative by the governments of Qatar, Finland, and Colombia. The conference was co-organised by the Office of the Secretary-General’s Envoy on Youth and the Search for Common Ground, in partnership with the UN Department of Political and Peacebuilding Affairs, UN Women, the UN Development Programme, the UN Population Fund, Education Above All Foundation, and the United Network of Young Peacebuilders. In June 2018, the Permanent Mission of Qatar to the UN and the Permanent Mission of Colombia at the UN hosted an event at the UN headquarters in New York to launch the book Herstory: Celebrating Women Leaders in the UN, which was prepared by the Permanent Missions of Qatar and Colombia. HE the Permanent Representative of Qatar to the UN Sheikha Alya Ahmed bin Saif al-Thani said that Qatar’s participation in the creation of this book is a recognition of the leadership role of women at the UN and an opportunity to highlight significant achievements through a historical narrative in photographs. Related Story Amir sends congratulations to Colombia President Amir, UAE president discuss ways to bolster ties, joint Gulf action

Holloway, No. 5 Alabama overwhelm South Dakota State with 19 3-pointers in 105-82 victoryCroatia's outspoken President Zoran Milanovic won Sunday's election in the first round as he scooped up more than 50 percent of the vote, according to an exit poll. Milanovic, backed by the opposition left-wing Social Democrats, won 51.48 percent of the vote while Dragan Primorac, the candidate of the ruling conservative HDZ party, came second with 19.29 percent, showed the exit poll released by the state-run HRT television immediately after polling stations closed. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.The NBA has announced ( Twitter link ) that it has dinged All-NBA Timberwolves guard Anthony Edwards to the tune of $100K after he swore during a postgame live television conversation on Dec. 27. Minnesota trailed Houston by 16 points with less than five minutes remaining in regulation, but stormed all the way back to eke out a one-point win, 113-112. Edwards hit the game-winning three-pointer after the club’s intended play, designed for All-Star forward Julius Randle , fell apart. “We made it happen,” Edwards said of his team’s comeback, per Timberwolves Rally ( Twitter video link ). “We got some stops. We made some big shots, and we made a big shot at the end right there. All I knew was, the play was for [Randle] to go... big-small pick-and-roll, once he picked it up, I mean, who else? I got to go get it, s—.” “And [ Nickeil Alexander-Walker ] found me,” Edwards said. “I’m like, ‘S—, I’m going for the win.’ Like Gilbert Arenas said, ‘I don’t do overtime,’ so f— it.” Edwards finished the game with 24 points on 9-of-17 shooting from the floor and 2-of-3 shooting from the foul line, along with five rebounds, three assists and a block. The 6-foot-4 wing was fined $75K for the same kind of infraction, cursing in a postgame interview, less than a week ago. Two weeks prior to that, the league penalized him with a $25K fine for swearing during a postgame media session after another contest. In November, the NBA saw fit to ding Edwards for a cool $35K for flipping off a Sacramento fan. It appears the league is hoping to send a message to Edwards about speaking so casually in these interviews with these escalating fines. Across 30 contests so far, the two-time All-Star is submitting typically solid numbers for a middling 16-14 Timberwolves squad. Edwards is averaging 25.3 points on .447/.420/.803 shooting splits, 5.5 rebounds and 4.0 assists a night. This article first appeared on Hoops Rumors and was syndicated with permission.

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South Korea’s acting President Choi Sang-mok on Monday ordered the transport ministry to carry out an emergency safety inspection of the country’s airline operation system. Jeju Air CEO Kim E-bae neither confirmed nor denied reports that a bird strike was the cause of the crash. Song Kyung-hoon, Jeju Air’s head of the management support office, dismissed accusations that mechanical faults or inadequate safety preparations contributed to accident. > 24/7 San Diego news stream: Watch NBC 7 free wherever you are South Korea's acting President Choi Sang-mok has ordered the transport ministry to carry out an emergency safety inspection of the country's airline operation system, local news agency Yonhap reported Monday. Choi was speaking at a disaster control meeting in Seoul, after a Jeju Air flight crashed at the country's Muan International Airport on Sunday, leading to 179 fatalities with just two survivors, making it the deadliest air accident in South Korea. "The pilot declared mayday after issuing the bird strike alert," said Joo Jong-wan, director of aviation policy division at the Ministry of Land, Infrastructure and Transport. Choi pledged that the government would "spare no effort" in supporting the bereaved families, and declared a seven-day mourning period for the country. At a press briefing on Sunday, Jeju Air's head of the management support office Song Kyung-hoon said the airline would support the victims and their families, and that the aircraft was covered by a $1 billion insurance, reported Yonhap. Money Report South Korea stocks shrug off tepid industrial data, political turmoil; Jeju Air shares hit record low Stock futures inch lower as Wall Street readies for the final trading week of 2024: Live updates Addressing reports that a bird strike was the cause of the crash, Jeju Air CEO Kim E-bae neither confirmed nor denied it. "Currently, the exact cause of the accident has yet to be determined, and we must wait for the official investigation by government agencies," Kim said in a Sunday statement . Song dismissed accusations that mechanical faults or inadequate safety preparations played a role in the crash. "This crash is not about any maintenance issues. There can be absolutely no compromise when it comes to maintaining aircraft," Song said. On Monday, a Jeju Air flight reportedly returned to Gimpo International Airport shortly after taking off because a similar issue with the plane's landing gear was detected. The accident comes at a politically fraught time for South Korea. Choi is the country's second acting president in a month. He assumed the role after acting President Han Duck-soon was impeached on Friday by lawmakers over his reluctance to appoint three justices to the Constitutional Court looking into the impeachment of former President Yoon Suk Yeol. Yoon was impeached a mere just weeks back , after imposing martial law for six hours at the start of the month for the first time since the military coup of 1979. Shares of Jeju Air hit an all-time low Monday, according to FactSet data, and were last down 8.53%. Other Korean airlines' stocks were volatile. Also on CNBC South Korea stocks shrug off tepid industrial data, political turmoil; Jeju Air shares hit record low South Korea impeaches acting President Han Duck-soo, deepening political turmoil Tributes to former Indian PM Manmohan Singh pour inArne Slot offers latest on major double Liverpool injury scare before Man City

Philippine VP threatens to get president assassinated if she’s killed

Extended periods spent in microgravity can take a serious toll on the human body, leading to muscular atrophy, bone density loss, vision problems, and changes to the cardiovascular, endocrine, and nervous systems. At the same time, however, scientists have found that microgravity may play a key role in the future of medicine. This includes bioprinting in space, where cultured cells are printed out to form organic tissues and organs without the need for grafts. Printing in microgravity also ensures that fragile cell structures do not collapse due to pressures caused by Earth’s gravity. However, space medicine may also have applications for stem cell research, which also benefit from a microgravity environment. Stem cells have countless applications in medicine because of their ability to quickly replicate and differentiate into many different types of cells. Based on experiments carried out aboard the International Space Station (ISS), researchers from the Mayo Clinic in Florida determined that these abilities are enhanced when grown in space. These findings could have significant benefits in the study of disease prevention and treatment on Earth, as well as medical treatments delivered in space. The research was conducted by Fay Ghani and Abba C. Zubair, two pathologists with the Mayo Clinic’s Center for Regenerative Biotherapeutics and the Department of Laboratory Medicine and Pathology . The paper detailing their experiment and findings was recently published in NPJ Microgravity . For their experiment, the team specifically examined the behavior of several types of adult stem cells, which manage normal wear and tear on the body. These cells are often grown by scientists for the sake of disease research and developing new therapies. The process is challenging, expensive, and takes a long time. But as Zubair said in a recent interview with ScienceAlert! , the process could be simplified by growing them in space-based labs: “Studying stem cells in space has uncovered cell mechanisms that would otherwise be undetected or unknown within the presence of normal gravity. That discovery indicates a broader scientific value to this research, including potential clinical applications. The space environment offers an advantage to the growth of stem cells by providing a more natural three-dimensional state for their expansion, which closely resembles growth of cells in the human body. Ghani and Zubair experimented with many types of adult stem cells and obtained positive results for them all. This included general improvements in cell expansion and stability of replication, which continued after the cell cultures were returned to Earth. In particular, they noted improvements with mesenchymal stem cells (MSCs), a class of multipotent stromal cells that can differentiate into bone, cartilage, muscle, and fat cells – which gives rise to marrow adipose tissue, thus increasing bone density. When grown in microgravity, these cells were shown to be better at managing immune system responses and reducing inflammation. “That’s in comparison to the two-dimensional culture environment available on Earth that is less likely to imitate human tissue,” said Zubair. “The space research conducted so far is just a starting point. A broader perspective about stem cell applications is possible as research continues to explore the use of space to advance regenerative medicine.” While there is still a significant amount of research and testing to be done, these results are very promising and indicate that stem cells can be grown faster and in greater numbers in microgravity. Ghani and Zubair are confident that space-grown stem cells will help treat the most common causes of mortality here on Earth, including heart disease, stroke, cancer, and neurodegenerative diseases like dementia, Parkinson’s disease, Multiple Sclerosis (MS), and Amyotrophic Lateral Sclerosis (ALS). Further Reading: ScienceAlert! , NPJ Microgravity

TJ Bamba led Oregon with 22 points and five assists in the Ducks' 78-68 victory over San Diego State on Wednesday in pool play of the Players Era Festival at Las Vegas. The Ducks (7-0) won both games in the "Power Group" and will play in the championship Saturday against the top team from the "Impact Group." San Diego State (3-2) will await its opponent for one of the secondary games Saturday. The matchups are based on seeding dependent on performance of the first two games. Bamba made 7 of 14 shots from the field, including 4 of 6 from 3-point range. Keeshawn Barthelemy had 16 points on 5-of-8 shooting from the field and hit 3 of 4 from beyond the arc. Nate Bittle finished with 11 points and nine rebounds, Brandon Angel 12 points and six rebounds and Jackson Shelstad paired 12 points with four assists. BJ Davis led San Diego State with 18 points before fouling out. Nick Boyd finished with 15 points on 6-of-9 shooting from the field, including 3-of-4 from beyond the arc. Neither team led by more than four points until Oregon scored nine unanswered to take a 34-27 lead with 2:20 left in the first half. Barthelemy started the run with a jumper and finished it with a 3-pointer. Oregon outscored San Diego State 16-4 in the last 4:23 of the half to take a 41-31 lead into the break. Bamba and Barthelemy combined for 20 points on 7-of-14 shooting in the first half. Boyd led San Diego State with 13 points, making all three of his 3-point attempts and going 5-of-6 overall. A 7-2 run for Oregon increased its advantage to 48-35 with 17:36 remaining, but San Diego State cut the lead to 56-53 with 10:58 left following a 9-0 run. A Bamba 3-pointer closed an 8-2 stretch with 4:15 remaining to increase Oregon's lead to 73-63. San Diego State did not get closer than eight points the rest of the way. Davis fouled out with 31 seconds left and Oregon leading 77-68. --Field Level MediaSCOTTSDALE, Ariz. — Even when Penn State quarterback Drew Allar gets some praise, it's usually a backhanded compliment. They say he's a good game manager and stays within himself, or that he doesn't try to do too much. They mention he might not be flashy, but he gives the team a chance to win. And here's the thing about Penn State since Allar stepped under center: The Nittany Lions have won games. A lot of them. Sometimes that's hard to remember considering the lukewarm reception he often gets from fans. "I get it — we have a really passionate fan base and they're a huge part of our success," Allar said Sunday at College Football Playoff quarterfinals media day. "For us, we always want to go out there every drive and end with a touchdown, so when we don't do that, there's nobody more frustrated than us." The polarizing Allar is having a solid season by just about any standard, completing more than 68% of his passes for 3,021 yards, 21 touchdowns and seven interceptions while leading the sixth-seeded Nittany Lions to a 12-2 record and a spot in the Fiesta Bowl for Tuesday's game against No. 3 seed Boise State. But in a college football world filled with high-scoring, explosive offenses, Allar's no-frills performances often are the object of ire. The Penn State offense is a run-first bunch, led by the talented combo of Nicholas Singleton and Kaytron Allen. "If we had a nickel for every time there was a Monday morning quarterback saying some BS stuff, we'd all be pretty rich," offensive coordinator Andy Kotelnicki said. "I think part of being a quarterback, especially at Penn State but really anywhere, is how you respond to and manage criticism." The 20-year-old Allar has made strides in that department after a trying 2023 season that finished with a 10-3 record. He says that's largely because once fall camp started back in August, he logged off the social media platform X. Allar said negative online experiences wore on him last year, and his phone number was leaked a few times, which added to the stress. He finally realized that controlling outside narratives was impossible, so the best course of action was to eliminate a needless distraction. "I've been more mentally free, as much as that sounds crazy," Allar said. "I think that's been a huge difference for me this year." The biggest criticism of Allar — and really Penn State as a whole during the 11-year James Franklin era — is that he isn't capable of winning the big games. He's 0-2 against rival Ohio State and threw a late interception against Oregon in the Big Ten title game earlier this month, which sealed the Ducks' 45-37 victory. He wasn't great in the CFP's first round, either, completing just 13 of 22 passes for 127 yards as Penn State muscled past SMU 38-10 on a cold, blustery day to advance to the Fiesta Bowl. But the quarterback is confident a better performance — aided by a game that will be played in comfortable temperatures in a domed stadium — is coming. "For me, I just have to execute those (easy) throws early in the game and get our guys into rhythm," Allar said. "Get them involved early as much as I can and that allows us to stay on the field longer, call more plays and open up our offense more. That will help us a ton, building the momentum throughout the game." Allar might be a favorite punching bag for a section of the Penn State fan base, but that's not the case in his own locker room. Star tight end Tyler Warren praised his quarterback's ability to avoid sacks, saying that the 6-foot-5, 238-pounder brings a toughness that resonates with teammates. "He's a football player," Warren said. "He plays quarterback, but when you watch him play and the energy he brings and the way he runs the ball, he's just a football player and that fires up our offense." Now Allar and Penn State have a chance to silence critics who say that the Nittany Lions don't show up in big games. Not that he's worried about what other people think. "I think it's a skill at the end of the day — blocking out the outside noise," Allar said. "Focusing on you and the process and being honest with yourself, both good and bad." Get local news delivered to your inbox!

BIRMINGHAM, Mich. , Nov. 27, 2024 /PRNewswire/ -- OneStream, Inc. ("OneStream") (Nasdaq: OS) announced today that in connection with the previously announced underwritten public offering of 15,000,000 shares of its Class A common stock, which closed on November 18, 2024 , the underwriters have exercised in full their option to purchase an additional 2,250,000 shares of Class A common stock at the public offering price of $31.00 per share, less underwriting discounts and commissions. Of the additional shares, 1,351,043 shares were sold by selling stockholders and 898,957 shares were sold by OneStream as part of a non-dilutive "synthetic secondary" transaction (the "Synthetic Secondary"). OneStream did not receive any proceeds from the sale of shares by the selling stockholders in the public offering. OneStream used all of the net proceeds to it from the public offering to purchase LLC units of OneStream Software LLC (and purchase and cancel an equal number of shares of Class C common stock) from KKR Dream Holdings LLC in the Synthetic Secondary, at a purchase price per unit equal to the public offering price per share of Class A common stock sold in the public offering, net of underwriting discounts and commissions. Accordingly, OneStream did not retain any proceeds from the public offering and, upon the closing of the public offering and the Synthetic Secondary, the total number of outstanding shares of common stock of OneStream and LLC units of OneStream Software LLC remained the same. Morgan Stanley, J.P. Morgan and KKR acted as lead book-running managers for the offering. Citigroup, BofA Securities and Guggenheim Securities acted as book-running managers and Mizuho, Raymond James , Scotiabank, Truist Securities, BTIG, Piper Sandler, TD Cowen and Wolfe | Nomura Alliance acted as additional book-running managers for the offering. Amerivet Securities, Blaylock Van , LLC, Cabrera Capital Markets LLC, Drexel Hamilton and Loop Capital Markets acted as co-managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on November 14, 2024 . The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from: Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: prospectus@morganstanley.com ; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com . This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About OneStream OneStream is how today's Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It's the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution. We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve. With over 1,500 customers, including 15% of the Fortune 500, more than 250 go-to-market, implementation, and development partners and over 1,400 employees, our vision is to be the operating system for modern finance. Disclaimer "Wolfe | Nomura Alliance " is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura Securities International, Inc. and WR Securities, LLC are serving as underwriters in the offering described herein. In addition, WR Securities, LLC and certain of its affiliates may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with this offering. Investor Relations Contacts INVESTOR CONTACT Anne Leschin VP, Investor Relations and Strategic Finance OneStream investors@onestreamsoftware.com MEDIA CONTACT Victoria Borges Media Relations Contact OneStream media@onestreamsoftware.com View original content: https://www.prnewswire.com/news-releases/onestream-announces-full-exercise-of-underwriters-option-to-purchase-additional-shares-in-secondary-offering-of-class-a-common-stock-302317890.html SOURCE OneStream, Inc.The Philadelphia Eagles clinched the NFC East division title on Sunday, handing the Dallas Cowboys a humiliating 41-7 defeat while the Buffalo Bills secured the second seed in the AFC with a 40-14 crushing of the New York Jets. The Cowboys were already eliminated from playoff contention and without top receiver CeeDee Lamb with a shoulder injury, but it was their defense that struggled. Eagles starting quarter-back Jalen Hurts missed the game due to concussion. Kenny Pickett got the start but had to leave the game in the third quarter with a rib injury with Philadelphia 24-7 up. That meant third-choice Tanner McKee took over under the center and two of his four passes were for touchdowns. The real damage to the Cowboys, who gave up four turnovers, was done by the Eagles star running back Saquon Barkley who put up 167 yards on 31 carries to pass the 2,000 yard mark for the season. Barkley, who has 2,005 yards needs to put up 101 yards next week to break Eric Dickerson's record for the most rushing yards in a season, set for the Los Angeles Rams in 1984. The win means the Eagles are guaranteed at least the number two seed in the NFC. The Bills take the second seed in the AFC, behind the Kansas City Chiefs, after taking care of business against the New York Jets. The Bills led 12-0 at the half before their quarterback Josh Allen took total control of the game with touchdown passes to Amari Cooper and Keon Coleman either side of a rushing score from James Cook. Allen, who threw for 182 yards, had opened the scoring with a one-yard rush. Jets quarterback Aaron Rodgers threw two interceptions and was sacked four times. The Indianapolis Colts were eliminated from playoff contention after falling 45-33 to the 3-13 New York Giants. While the Giants had nothing to play for, quarterback Drew Lock enjoyed himself -- he matched his career high of four touchdown passes and rushed for another score as the Giants ended their 10-game losing streak. The Tampa Bay Buccaneers kept their post-season hopes alive as Baker Mayfield threw for 359 yards and five touchdowns in a 48-14 rout of the Carolina Panthers. Later on Sunday, the Minnesota Vikings, searching for the top seed in the NFC, take on NFC North divisional rivals the Green Bay Packers. The Washington Commanders would book a playoff berth if they can beat the Atlanta Falcons in Sunday night's game. sev/bb

Akron 97, Alabama St. 78

We are accustomed to thinking of the Pilgrims at Plymouth and the neighboring Wampanoag tribe of Massachusetts as the first to celebrate Thanksgiving, but some scholars say that isn’t accurate. Here’s the case for other possibilities. The Thanksgiving traditions started by the Pilgrims in Massachusetts in 1621 are what most Americans follow. But history shows a celebration to give thanks occurred in Jamestown, Virginia, in 1619. Not only that, 56 years earlier than the Puritan Pilgrims’ gathering, 800 Spanish settlers who founded the city of St. Augustine celebrated a Mass of thanksgiving along with members of the Seloy tribe. In St. Augustine, according to the National Park Service, it could have been cocido, a stew made with salted pork, garbanzo beans and garlic seasoning, accompanied by hard sea biscuits and red wine. If the Seloy contributed to the meal from their food stores, the menu could have included turkey, venison, gopher tortoise, mullet, drum, sea catfish, corn, beans and squash. There are other accounts of thanksgiving celebrations predating the Pilgrims by the French settlers in Florida. An early French account dates to 1564, when persecuted Huguenot settlers celebrated in Northern Florida. A year later the French settlement was wiped out by the Spanish. When the first settlers arrived in Jamestown in April 1607 and raised a cross at Cape Henry, claiming the land for England, they may have had a thanksgiving predating their first known observance in 1619. In that year, Berkeley Hundred was settled, one of a number of plantations granted by the Virginia Co. of London to its stockholders. Prior to leaving England in September 1619, ship Capt. John Woodlief received instructions from investors that included these words: “That the day of our ships arrival at the place assigned for plantacon in the land of Virginia shall be yearly and perpetually kept holy as a day of thanksgiving to Almighty god.” On Dec. 4, 1619, Woodlief’s ship checked in at Jamestown, the colony’s capital, where a mostly religious thanksgiving ceremony was held, after which the ship sailed up the James River about 30 miles. The Berkeley Hundred plantation was not around long after a growing number of native Powhatan tribal members went to war and drove the settlers out in March 1622. Jamestown: Traveling aboard the ships Susan Constant, Godspeed and Discovery, 104 men landed in Virginia in 1607 at a place they named Jamestown. It was the first permanent English settlement in the New World. Plymouth: Thirteen years later, 102 settlers aboard the Mayflower landed in Massachusetts at a place they named Plymouth. Jamestown: Economic motives prompted colonization in Virginia. The Virginia Co., organized in 1606, sponsored the Virginia Colony. Organizers of the company wanted to expand English trade and obtain a wider market for English manufactured goods. They naturally hoped for profit from their investment in shares of company stock. Plymouth : Freedom from religious persecution motivated the Pilgrims to leave England and settle in Holland, where there was more religious freedom. However, after a number of years the Pilgrims felt that their children were being corrupted by the liberal Dutch lifestyle and were losing their English heritage. News of the English colony in Virginia motivated them to leave Holland and settle in the New World. Jamestown: Inexperience, unwillingness to work and a lack of wilderness survival skills led to bickering, disagreements and inaction at Jamestown. Poor relations with tribes, disease and the initial absence of the family unit compounded the problems. Plymouth: Cooperation and hard work were part of the Pilgrims’ lifestyle. Nevertheless, they too were plagued with hunger, disease and environmental hazards. Jamestown: The settlers were members of the Church of England. Plymouth: The Pilgrims were dissenters from the Church of England and established the Puritan or Congregational Church. In 1619, the first representative legislative assembly in the New World met at the Jamestown church. Since New England was outside the jurisdiction of Virginia’s government, the Pilgrims established a self-governing agreement of their own, the Mayflower Compact. Jamestown: On Dec. 4, 1619, settlers stepped ashore at Berkeley Hundred along the James River and, in accordance with company investors’ instructions, celebrated their first official thanksgiving. Plymouth: In the fall of 1621, the Pilgrims held a celebration to give thanks to God for his bounty and blessings. This occasion was the origin of the traditional Thanksgiving as we know it. You can find an interactive map of Historic Jamestown on the National Park Service site here . Sources: National Park Service, Virginia Museum of History and Culture, Jamestown-Yorktown FoundationThe Ministry of Defence (MoD) has just announced the formation of a high-level committee to address shortages in the Indian Air Force (IAF). For some time, the IAF has been grappling with the shortages of fighter aircraft, with the squadron strength coming to an all-time low of 30 vis-à-vis the authorised strength of 42. The committee headed by the Defence Secretary will include senior ministry officials, Defence Research and Development Organisation (DRDO) chairman Samir V Kamat, and senior IAF officers. It will look at the shortage of fighter jets, weapons, and other equipment and suggest solutions, including accelerating indigenous production and selectively inviting foreign collaborations, amid growing security challenges from China, Pakistan, and Bangladesh. The report is expected in 2-3 months. Meanwhile, Pakistan plans to acquire 40 J-35 stealth fighters from China, marking the first export of Beijing’s fifth-generation jets to a foreign ally. It could mean induction by around 2029. That will change the entire air dominance dynamics in the subcontinent. China’s potential sale of fighter jets to Bangladesh also adds to regional security concerns. IAF Fighter Shortages The IAF’s forthcoming fighter aircraft shortages had been anticipated as early as 2001. A case for 126 aircraft had been initiated. IAF would then have been very happy to acquire additional Mirage-2000 aircraft with upgraded standards, and these could have been made in India for the world. The French finally closed the Mirage-2000 line in 2006 and offered the Rafale. The final process of selecting the Medium Multi-Role Combat Aircraft (MMRCA) got going in 2008. The Rafale came out as a winner among the six contestants in 2012. But there were complexities of Make in India between Dassault and Hindustan Aeronautics Limited (HAL). Finally, only 36 were bought off-the-shelf in a government-to-government (G2G) deal. Since the Su-30 MKI that began inducting in the early 2000s, 36 Rafales were the only foreign fighters inducted. LCA Mk1 made its first flight in 2001. It was finally inducted into the IAF in 2015. 24 years after the first flight, the IAF has just two squadrons. The LCA Mk1A, which was to begin inducting in March 2024, is already delayed by a year. IAF was forced to extend the MiG-21 fleet till 2025. In fact, India is one of the last operators of the type. The HAL Tejas Mark 2, Medium Weight Fighter (MWF), which will be closer to Rafale in capabilities, is planned to be rolled out by 2025 and have its first flight in 2026. The mass production is planned for 2029. Once again, these are very optimistic figures, considering more so that we are dependent on foreign subsystems. India is also the only operator of Jaguar aircraft, which we may continue to fly for another 8-10 years. 30 squadrons is a precariously low figure for the threat assessment made by India’s security establishment. Fifth Generation Fighters The DRDO-HAL Advanced Medium Combat Aircraft (AMCA) feasibility study was launched in October 2010. In 2015, the basic design configuration of AMCA was finalised and was accepted by IAF in 2016. The design work was completed in 2023, and approval for the ₹15,000 crore ($1.8 billion) project for prototype development was received in March 2024. The first flight is expected in late 2028. Mass production of the aircraft and induction are planned to start by 2035. From the LCA experience, the above timelines seem very optimistic, and delays should be expected and factored. Way Ahead for Fighters In 2001, India had a 3:1 advantage over Pakistan in fighter numbers. This is now close to 1.6:1. China has a 3:1 advantage over IAF in numbers. Considering the three front threats, most analysts believe that IAF requires around 50 fighter squadrons. To make good the 42 squadrons first, some urgent steps are required. All 83 ordered LCA Mk1A were to be delivered by 2029. For that to happen, nearly 24 aircraft must now be built every year. Currently we are still at best around 12 LCA a year. Even the proposed third line at Nasik will thus not be sufficient. Another 97 LCA Mk1A are being ordered. All the more, production must quickly go up to 24 aircraft a year. Supply chain issues for GE 404 engines must be resolved quickly. In fact, India must keep a buffer stock. LCA Mk2 development must be hastened. Ideally, HAL must find a private partner at this stage itself who can support both basic design work and production. The same arrangement is envisaged with AMCA. The partner must be selected quickly. Pakistan is working closely with Turkey on their TAI ‘Kaan’ fifth-generation fighter. They are also in talks with China to buy 40 J-35A fifth-generation fighters. It will be inappropriate for the country with the fourth largest military and soon to be the third largest economy if a financially impoverished Pakistan were to induct fifth-generation fighters earlier than India. If India has to sit at the global high table, it must make world-class fighter aircraft as China has been doing for some time. A national task force must be created for fighter aircraft design and development. The task force must report directly to the PMO. Lastly, and no less importantly, the proposal for a one-time buy of Make in India 114 fighters must be pushed. Even if ordered today, these will be inducted only after 5-6 years. To save time, it should be a G2G deal. Ideally it should be the latest Rafale F4 variant. India has already paid for IAF-specific modifications, and also airbase infrastructure exists. Rafales are already operational, and induction will be fastest. Also, the French are tried and tested partners. We cannot keep putting more eggs in the Russian and US basket. Even after all the above actions, the 42 squadrons will be completed only in 2038 or so. Force Multipliers: A Critical Requirement For a continental-sized country like India, 3 large (IL-76-based) and 3 small (DRDO Netra) airborne early warning and control (AEW&C) systems are highly inadequate. Even Pakistan has more AEW&C than India. India has decided to make six more Netra and also develop six larger ones (Netra 2) using pre-owned airliners. Similarly, India has only six flight refuelling aircraft. Six more are being developed indigenously using pre-owned airliners. These two activities will take around six years. Timelines have to be shortened. Also, further planning is required for yet another additional six of each of the two types. UAS and Drones Recent conflicts have highlighted the importance of uncrewed aerial systems (UAS) and smaller-sized drones. China is already among the leaders in UAS. Pakistan has not only acquired Chinese Wing Loong II UAS but is manufacturing them under license. Pakistan’s close Turkey connections open another UAS and drone supply line. India has understood the requirements. The DRDO TAPAS-BH-201 medium-altitude long-endurance (MALE) has been under development for long. India was forced to buy the General Atomics MQ-9B armed High Altitude Long Endurance (HALE) UCAVs, by paying nearly $3.5 billion for 31 of them. The deliveries will be undertaken from January 2029 till September 2030. India has over 100 drone start-ups. Adani Group, in a joint venture with Israel’s Elbit, is making Hermes 450 and 900 UAS variants in India. India has the capabilities. These need to be harnessed. Many drone components are currently being imported. If orders and production are coordinated, the components can be made in India. Missiles and Ammunition Recent conflicts have highlighted the need for modern aerial weapons with precision and range. Even a larger power like Russia was denied air superiority because of modern air defence systems. China is already making world-class aerial missiles, with some having ranges up to 3,400 kilometres. India has done well with aerial missiles (Astra), AD systems (Akash), and air-to-surface missiles (BrahMos). The development of advanced variants has to be pushed. The second aspect is weapons and kamikaze drone stocking and securing supply chains. It is important to become atmanirbhar on both of these. India must diversify sources in the interim period. Aero-Engine The aero-engine development remains another Achilles heel. India is in talks with Safran, Rolls-Royce, and some others to build an aero-engine with Indian intellectual property rights (IPR). This would be an important step, and India must bite the bullet earlier than later. Also, ToT negotiations for the GE-414 engine to be built in India must spell out technologies in great detail. It should not end up as any other license production contract. Joint Ventures India has had successful joint ventures (JVs) for radars and missiles with Israeli companies. BrahMos with Russia is a successful JV with greater potential ahead. AK-203 rifles are being made through an Indo-Russian JV. CASA-295W is being built through a JV with the Tata Group. The JV route is better than licensed production, as both partners have a stake in both risks and profits. The government had given approval to 45 companies/JVs operating in the defence sector with foreign Original Equipment Manufacturers (OEMs) just last year. These may be pushed. Encourage the Private Sector India’s private sector is now growing big in defence. Many large groups, like Tata, Adani, Mahindra, and Bharat Forge, among many others, are in defence. They are making world-class equipment for global customers, including aero-structures of top aircraft. DRDO and Defence PSUs must also create more JVs with the Indian private sector. There are many private companies in Drones. They need greater hand-holding. Out-of-the-Box Ideas As India pushes its Make in India projects with all earnestness, it may have to take some hard interim calls. India’s Advanced Medium Combat Aircraft (AMCA) is likely to take some time. India may wish to consider acquiring 2-3 squadrons of interim fifth-generation aircraft. The choice is either to join up with Russians on the Sukhoi Su-57 or impress upon the US to supply the F-35. Another thought is to acquire 12-15 bombers. Russia has reportedly offered the Tu-160M strategic bombers, which could substantially boost the IAF’s aerial capabilities. India is currently sandwiched between the two ends of a vice. Decisions must flow quickly. It is hoped that the high-level MoD committee will come out with good solutions. The writer is former Director General, Centre for Air Power Studies. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost’s views.

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