Amid Trump's 'ceasefire' claims, Nath hails Indira Gandhi for resisting US pressure during 1971 war
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
14 minutes ago
- Hans India
'Will always inspire', Rahul Gandhi pays tribute to Mountain Man Dashrath Manjhi
New Delhi: Ahead of his 'Voter Adhikar Yatra' from Bihar's Sasaram on Sunday, Congress leader Rahul Gandhi paid tribute to 'Mountain Man' Dashrath Manjhi on his death anniversary and said that the latter will "always continue to inspire us all". In a post on the social media platform X in Hindi, he said that Manjhi's "struggle reminds us that if intentions are strong, no obstacle is too big". "His determination and passion to accomplish what he set out to do will always inspire us all," Rahul Gandhi said. Notably, Manjhi was known as 'Mountain Man' for single-handedly carving a path through a hill in Gehlaur village to connect it with Wajirganj block in Bihar's Gaya district. Dashrath Manjhi, a native of Gehlaur village, cut a mountain to make a road between his village and Wazirganj. It took him 22 years to work every day with a hammer and a chisel. When his wife died in 1959 after being injured from falling from the mountain, and the same mountain blocked easy access to a nearby hospital in time, he decided to carve a path. With this feat done single-handedly, he is revered by the Manjhi community. Noting his contribution, a stamp featuring Dashrath Manjhi was released by India Post in the "Personalities of Bihar" series on December 26, 2016. A Hindi movie, 'Manjhi – The Mountain Man', was released and well-received. Dashrath Manjhi has a larger-than-life image among the Musahar community. The Bihar government has built a statue and memorial of Dashrath Manjhi. Gehlaur is one of the tourist attractions in the district. A large number of Buddhists come to Bodh Gaya every year, and the majority of them also visit the memorial of the Mountain Man. Majhi's son, Bhagirath Manjhi, is a Congress leader and was inducted into the grand old party days after participating in the 'Samvidhaan Suraksha Sammelan' in Patna. Dashrath Manjhi's son-in-law, Mithun Manjhi, is in the JD(U).
The Hindu
14 minutes ago
- The Hindu
Three Republican-led states to send hundreds of National Guard troops to Washington
Three Republican-led states said Saturday (August 16, 2025) that they were deploying hundreds of National Guard members to the nation's capital to bolster the Trump administration's effort to overhaul policing in Washington through a federal crackdown on crime and homelessness. West Virginia said it was deploying 300 to 400 Guard troops, while South Carolina pledged 200 and Ohio says it will send 150 in the coming days, marking a significant escalation of the federal intervention. The moves came as protesters pushed back on federal law enforcement and National Guard troops fanning out in the heavily Democratic city following U.S. President Donald Trump's executive order federalising local police forces and activating about 800 District of Columbia National Guard members. By adding outside troops to the existing D.C. Guard deployment and federal law enforcement presence, Mr. Trump is exercising even tighter control over the city. It's a power play that the President has justified as an emergency response to crime and homelessness, even though city officials have noted that violent crime is lower than it was during Mr. Trump's first term in office. National Guard members have played a limited role in the federal intervention so far, and it's unclear why additional troops are needed. They have been patrolling at landmarks like the National Mall and Union Station and assisting law enforcement with tasks including crowd control. The Republican Governors of the three states said they were sending hundreds of troops at the request of the Trump administration. West Virginia Governor Patrick Morrisey said he directed 300 to 400 Guard troops to head to Washington, adding that the state 'is proud to stand with President Trump in his effort to restore pride and beauty to our nation's capital.' South Carolina Governor Henry McMaster said he authorised the deployment of 200 of his state's National Guardsmen to help law enforcement in Washington at the Pentagon's request. He noted that if a hurricane or other natural disaster strikes, they would be recalled. Ohio Governor Mike DeWine said he would send 150 military police from the Guard to 'carry out presence patrols and serve as added security' and that they were expected to arrive in the coming days. His statement said Army Secretary Dan Driscoll requested the troops. The activations suggest the Trump administration sees the need for additional manpower after the president personally played down the need for Washington to hire more police officers. A protest against Mr. Trump's intervention drew scores to Dupont Circle on Saturday (August 16, 2025) before a march to the White House, about 1.5 miles away. Demonstrators assembled behind a banner that said, 'No fascist takeover of D.C.,' and some in the crowd held signs saying, 'No military occupation.' Morgan Taylor, one of the protest organisers, said they were hoping to spark enough backlash to Mr. Trump's actions that the administration would be forced to pull back on its crime and immigration agenda. 'It's hot, but I'm glad to be here. It's good to see all these people out here,' she said. 'I can't believe that this is happening in this country at this time.' Fuelling the protests were concerns about Mr. Trump overreaching and that he had used crime as a pretext to impose his will on Washington. John Finnigan, 55, was taking a bike ride when he ran into the protest in downtown Washington. The real estate construction manager who has lived in the capital for 27 years said Mr. Trump's moves were 'ridiculous' because crime is down. 'Hopefully, some of the mayors and some of the residents will get out in front of it and try and make it harder for it to happen in other cities,' Mr. Finnigan said. Jamie Dickstein, a 24-year-old teacher, said she was 'very uncomfortable and worried' for the safety or her students given the 'unmarked officers of all types' now roaming Washington and detaining people. Ms. Dickstein said she turned out to the protest with friends and relatives to 'prevent a continuous domino effect going forward with other cities.' Federal agents have appeared in some of the city's most highly trafficked neighbourhoods, garnering a mix of praise, pushback and alarm from local residents and leaders across the country. City leaders, who are obliged to cooperate with Mr. Trump's order under the federal laws that direct the district's local governance, have sought to work with the administration, though they have bristled at the scope of the president's takeover. On Friday (August 15, 2025), the administration reversed course on an order that aimed to place the head of the Drug Enforcement Administration as an 'emergency police commissioner' after the district's top lawyer sued. After a court hearing, Mr. Trump's attorney general, Pam Bondi, issued a memo directing the Metropolitan Police Department to cooperate with federal immigration enforcement regardless of any city law. City officials say they are evaluating how to best comply. In his order Monday (August 11, 2025), Mr. Trump declared an emergency due to the 'city government's failure to maintain public order.' He said that impeded the 'federal government's ability to operate efficiently to address the nation's broader interests without fear of our workers being subjected to rampant violence.' In a letter to city residents, Mayor Muriel Bowser, a Democrat, wrote that 'our limited self-government has never faced the type of test we are facing right now.' She added that if Washington residents stick together, 'we will show the entire nation what it looks like to fight for American democracy — even when we don't have full access to it.'
Economic Times
14 minutes ago
- Economic Times
China's $11 trillion stock market is a headache for both Xi and Trump
At the heart of why consumers in China save so much and spend so little, and why Xi Jinping and Donald Trump will struggle to change that behavior even if they want to, lies the country's stock market. ADVERTISEMENT Even after a recent rally, Chinese indexes have only just returned to levels seen in the aftermath of a dramatic bubble burst a decade ago. Instead of incentivizing consumers to spend, poor equity returns have nudged them toward saving. A $10,000 investment in the S&P 500 Index a decade ago would now have more than tripled in value, while the same amount in China's CSI 300 benchmark would've added just around $3,000. Part of the reason, long-term China watchers say, is structural. Created 35 years ago as a way for state-owned enterprises to channel household savings into building roads, ports and factories, exchanges have lacked a strong focus on delivering returns to investors. That skew has spawned a host of problems from an oversupply of shares to questionable post-listing practices, which continue to weigh on the $11 trillion market. The country's leaders are under pressure to fix this. President Xi is counting on domestic spending to reach the 5% economic growth goal, especially as a tariff war with the US heats up over the massive trade imbalance. At the same time, Beijing has reasons to keep prioritizing the market's role as a source of capital: the country needs vast funding to nurture companies that underpin its tech ambitions — even if their profitability remains questionable.'China's capital market has long been a paradise for financiers and a hell for investors, although the new securities chief has made some improvements,' Liu Jipeng, a securities veteran who teaches at China University of Political Science and Law, said in an interview. 'Regulators and exchanges are always consciously or unconsciously tilting toward the financing side of the business.'The limits of China's stock rally have again been evident this year. The CSI 300 has risen less than 7% despite a burst of optimism over AI, trailing benchmarks in the US and Europe. The underperformance — along with factors including an uncertain economic outlook — helps explain China's extraordinarily high savings rate, which stands at 35% of disposable income. ADVERTISEMENT Chen Long, who works in the asset management industry, has taken to social media platform Xiaohongshu to warn people of the risks of chasing the recent rally. Unlock 500+ Stock Recos on App 'Many ordinary people come in thinking they could make money, but the majority of them end up poorer,' Chen said in an interview, adding that he has been investing since 2014. 'State-owned companies primarily answer to the government rather than shareholders, while many private entrepreneurs have little regard for small investors.' ADVERTISEMENT Over the past year, China's top leadership has shown greater awareness of the stock market's importance as a vehicle for wealth creation. That's especially the case with an ongoing property slump and a fragmented social safety net, which exacerbates a sense of insecurity. The Communist Party's Politburo pledged to 'stabilize housing and stock markets' in a December meeting — a rare expression of support for equities at the high-level gathering. The body also called for 'increasing the attractiveness and inclusiveness of domestic capital markets' in July. ADVERTISEMENT There is no quick fix to boosting household confidence 'except for a stock market rebound,' said Hao Hong, chief investment officer at Lotus Asset Management Ltd. 'This is a topic that we economists have been discussing in the closed door meetings in Beijing.'' In some ways, the market's malaise has been decades in the making. 'The exchanges are motivated to fulfill the government's call for increasing companies' financing,' said Lian Ping, chairman of the China Chief Economist Forum, a think tank that advises the government. 'But when it comes to protecting investors' interests, there are few who are motivated to do it.' ADVERTISEMENT An explosive growth in new listings made China the world's biggest IPO market in 2022. Yet insufficient safeguards for shareholders and lax oversight of IPO frauds have led to share price crashes and delistings — what retail investors refer to as 'stepping on a land mine.'Take Beijing Zuojiang Technology, which listed in 2019. The company said in a 2023 statement that its product was modeled after Nvidia's BlueField-2 DPU. The company warned in January the following year that it was at risk of being delisted, citing an investigation for disclosure violations. It was subsequently removed from the Shenzhen bourse. The China Securities Regulatory Commission didn't immediately reply to a fax seeking years have seen greater efforts to screen poor-quality IPOs and crack down on financial fraud. There's also a push to reduce additional stock issuances by listed companies and share sales by major stakeholders, while encouraging more corporate profit to be passed on to has been visible progress. Initial public offerings shrank to nearly a third of 2023 levels last year. Shanghai and Shenzhen-listed companies handed out a combined 2.4 trillion yuan ($334 billion) in cash dividends for 2024, up 9% from the previous year, according to state media.'The regulations and overall requirements after IPO have become stricter, in terms of reliability, transparency, or information disclosure,' said Ding Wenjie, investment strategist at China Asset Management Co. Reforms, however, have fallen short of transforming the market into one that prioritizes investor returns. Even with the rise in share buybacks, CSI 300 companies spent only 0.2% of their market value on repurchasing shares in 2024, far less than the nearly 2% spent by S&P 500 firms, according to calculations by recent policy push to attract more tech listings is also a worrying sign for some investors. Regulators are resuming the listing of unprofitable companies on the STAR board, dubbed China's Nasdaq, while allowing them for the first time for the Shenzhen-based ChiNext board — which is earmarked for growth enterprises. IPOs so far this year have increased by nearly 30% from the same period in an inevitable move to secure capital for firms that are vital to China's battle against the US for supremacy in AI, semiconductor and robotics, but also signals that authorities may again be putting funding needs ahead of investor protection. Fast-tracking more firms to list without tackling the core problems of corporate credibility will 'just add volume without restoring investor trust,'' said Hebe Chen, an analyst at Vantage Markets in Melbourne. Stock exchange officials have been actively reaching out to investment banks and encouraging companies to file for IPOs, according to people familiar with the matter. Some high-quality tech applicants could get access to so-called "green channels" for a faster review and approval process, the people said. 'The entire regulatory environments are still not up to the task of delivering the best out of those companies,' said Dong Chen, chief Asia strategist at Pictet Wealth Management. It requires a more comprehensive improvement of the institutional environment 'to provide the right incentives'' for companies to deliver values to their shareholders, he said.
