
Pakistan violates LoC ceasefire in Kashmir, Army retaliates
The Pakistani Army across the Line of Control (LoC) in Kashmir carried out unprovoked small arms firing. Indian troops responded appropriately, using small arms. No casualties have been reported so far.The exchange of fire occurred across various locations along the LoC, prompting Indian forces to take defensive action. Officials confirmed that Indian troops responded proportionately to the situation, ensuring border security remained intact.advertisement
A similar incident was reported on Friday when the Pakistan Army also violated the ceasefire, just three days after the deadly Pahalgam terror attack, which took the lives of at least 26 people, mostly tourists, and left many injured.GUNFIGHT BETWEEN FORCES AND TERRORISTSIn a separate incident on Friday, a gunfight erupted between security forces and terrorists in Jammu and Kashmir's Bandipora district. Sources said a terrorist on the run sustained injuries, while two senior police officials were also hurt during the encounter.The clash broke out after security personnel launched a cordon and search operation in the Bazipora forest area, acting on intelligence inputs about the presence of terrorists. The operation escalated into a gunfight when the terrorists opened fire.A day earlier, a Special Forces soldier was martyred in an encounter between joint security forces and terrorists in the Udhampur district.Following the recent attacks in Pahalgam, a large-scale manhunt is underway to track down the five to six terrorists involved in the killings. Authorities have released images of three suspects – Asif Fuji, Suleman Shah, and Abu Talha – believed to be behind the attack. A reward of Rs 20 lakh has been announced for anyone providing credible information about their whereabouts.Tune InMust Watch
IN THIS STORY#Pakistan

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hindustan Times
13 minutes ago
- Hindustan Times
Mehul Choksi's bank accounts, shares attached by Sebi over ₹2.1 crore dues
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of absconding diamantaire Mehul Choksi to recover dues totalling ₹2.1 crore in a case of violation of insider trading rules in the shares of Gitanjali Gems. The latest move followed a demand notice issued to Choksi on May 15, warning attachment of assets as well as bank accounts if he failed to make the payment within 15 days. The demand notice came after Choksi failed to pay the fine imposed by the Securities and Exchange Board of India (SEBI) in January 2022 in a case of violation of insider trading rules in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi. Both are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than ₹14,000 crore. Both Choksi and Modi fled India after the PNB scam came to light in early 2018. In April, Choksi was arrested in Belgium following an extradition request by Indian probe agencies. He was located in Belgium last year when he went there for getting medical treatment. He had been staying in Antigua since 2018 after leaving India. Modi was arrested by the Scotland Yard Police in March 2019 and is currently in jail in that country. In an attachment notice dated June 4, Sebi said the pending dues of ₹2.1 crore include the initial fine of ₹1.5 crore and interest of ₹60 lakh. To recover the dues, Sebi asked all the banks, depositories -- CDSL and NSDL -- and mutual funds not to allow any debit from the accounts of Choksi. However, credits have been permitted. Further, Sebi has directed the banks to attach all accounts, including lockers, held by the defaulter. Initiating the recovery proceedings, Sebi said there is sufficient reason to believe that Choksi may dispose of the amounts in the bank accounts, mutual fund folios and securities in the demat accounts held with the depositories and "realisation of the amount due under the certificate would, in consequence, be delayed or obstructed". In its order passed in January 2022, the regulator imposed a penalty of ₹1.5 crore on Choksi and restrained him from the securities market for one year. Sebi had found that Choksi communicated unpublished price sensitive information to one Rakesh Girdharlal Gajera, who sold his entire shareholding of 5.75 per cent in Gitanjali Gems in December 2017 with the intention of avoiding loss ahead of any event which may lead to disclosure of fraudulent issuance of LoUs (letter of undertaking) to Gitanjali Group and magnitude in public domain. It was noted that fraudulent LoUs were issued on behalf of entities belonging to the Gitanjali Group, including GGL. "Noticee no. 1 (Choksi) was found to have communicated UPSI (unpublished price sensitive information) to Noticee no. 2 (Gajera) without any underlying legal obligation or any legitimate purpose," Sebi had said in its final order. Through such activities, the two persons had violated the provisions of the PIT (Prohibition of Insider Trading) rules. In May 2023, Sebi sent a notice to Choksi directing him to pay ₹5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems.
&w=3840&q=100)

Business Standard
13 minutes ago
- Business Standard
ED raids Dino Morea and others in Mithi river desilting scam case
The Enforcement Directorate on Friday conducted searches at the premises of actor Dino Morea and some others in Maharashtra apart from some locations in Kerala as part of a money laundering investigation linked to the Mithi river desilting "scam", official sources said. The fraud is alleged to have caused a Rs 65 crore loss to the Brihanmumbai Municipal Corporation (BMC). The raids are covering more than 15 premises located in Mumbai and Kochi. This includes the premises of Morea, his brother, contractors and some others, the sources said. The investigation is being conducted under the Prevention of Money Laundering Act (PMLA), they said. The ED case against certain officials of the BMC and some others stems from a Mumbai Police economic offences wing (EOW) FIR filed to probe alleged irregularities in desilting of the Mithi river that is alleged to have caused a Rs 65 crore loss to the civic body. Morea was questioned by the EOW in this case few days back. The EOW registered a case against 13 persons, including civic officials and contractors, for their alleged involvement in the scam. The river flows through the city and drains into the Arabian is alleged that tenders for renting specialised dredging equipment were manipulated to favour certain suppliers.


Business Standard
14 minutes ago
- Business Standard
How China gained control over the global rare earth minerals supply chain
The alarm has been intensifying in the past few weeks as global automakers, including major German manufacturers, raised concerns over China's export restrictions on rare earth alloys, magnets, and mixtures, warning that the curbs could trigger production delays and operational shutdowns. The latest backlash follows similar complaints from US firms and an Indian electric vehicle producer last week, highlighting the mounting global fallout from Beijing's April decision to suspend outbound shipments of several critical minerals. China has intensified its strategic dominance over the global supply of rare earth elements by adding critical minerals to its export control list, further straining already fragile global supply chains amid rising geopolitical tensions. The move, seen as a direct response to heightened tariffs imposed by the United States, underscores China's decades-long state-led push to monopolise both the mining and, more critically, the processing of rare earth materials—metals that are essential to a range of advanced technologies from electric vehicles to fighter jets. The 1990s strategy that gave China a monopoly Despite being relatively abundant in the Earth's crust, rare earths are rarely found in concentrated deposits and require complex, often environmentally hazardous, refining processes. China's edge lies not only in its 30–36 per cent share of global reserves but in its near-total control of the processing chain, estimated at over 85 per cent of global capacity. Beginning in the 1990s, Beijing classified rare earths as strategic resources, shielding the sector from foreign control and channelling significant state support into extraction and refining. Initiatives like 'Made in China 2025' ensured rare earths remained embedded in the country's high-tech ambitions. Western retreat allowed China to dominate supply chains As the US and other Western nations shut down domestic operations over cost and environmental concerns, China ramped up investment. It perfected the solvent extraction method, a process initially developed in the US but later abandoned due to regulatory and environmental challenges. By the early 2000s, China produced up to 97 per cent of the world's rare earths and began restricting exports, simultaneously driving up global prices and encouraging foreign manufacturers to relocate operations to China to secure uninterrupted supply. Export curbs on 7 key elements spark global concern In April, China extended export restrictions on terbium, yttrium, dysprosium, gadolinium, lutetium, samarium, and scandium—seven of the 17 recognised rare earth elements. Each plays a unique role in modern technologies and defence systems. Why terbium, yttrium and dysprosium matter globally Terbium: Vital for smartphone displays and aircraft magnets. China exports 85 per cent to Japan, just 5 per cent to the US. Yttrium: Used in medical lasers and superconductors. US relies 93 per cent on China. Dysprosium: Key for EV magnets and wind turbines. Majority goes to Japan and South Korea. Gadolinium: Common in MRI scans and reactor cores. Lutetium: Used in oil refining, mainly imported by the US. Samarium: Strategic for military-grade magnets and nuclear use. Scandium: Critical for aerospace; no US production in 50+ years. Japan, US, EU scramble to reduce China dependency China's move is expected to hit countries that are already struggling to build independent rare earth supply chains. According to Chinese customs data, Japan remains the largest buyer of these restricted materials, followed by South Korea and the US. Global supply chain diversification faces uphill battle In response, nations are accelerating efforts to reduce reliance on Chinese supply. Australia's Lynas Rare Earths is expanding its Malaysian plant. The EU is funding scandium production, and the US has revived mining at the Mountain Pass facility in California—though the ore is still sent abroad for processing. Yet such initiatives face formidable challenges. China's low production costs, lenient environmental standards, and strong vertical integration give it a lasting competitive edge.