SpaceX's latest Starship test flight ends with another explosion
The test flight ended in failure as the rocket spun out of control and disintegrated during re-entry over the Indian Ocean
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Zawya
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- Zawya
Message from the President of the Republic of Seychelles, Mr. Wavel Ramkalawan, on the occasion of Eid al-Adha
On the blessed occasion of Eid al-Adha, on behalf of the people of Seychelles, I extend my heartfelt greetings and best wishes to the entire Muslim community in Seychelles. Eid al-Adha, the Festival of Sacrifice, is a time of deep spiritual reflection and meaningful tradition. A celebration that calls for renewed faith, to show compassion to one another, and to share blessings with others. As the Muslim community comes together to offer prayers, perform acts of charity, and unite in the spirit of generosity, may this sacred festival bring peace, harmony, and renewed hope to our nation. I commend the Muslim community for its continued contribution to the social, cultural, and spiritual fabric of Seychelles. Let this Eid be a reminder of the strength we find in unity and the power of faith to uplift hearts and communities. Eid Mubarak to all. Distributed by APO Group on behalf of State House Seychelles.
Zawya
2 hours ago
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Walmart's Flipkart secures approval for direct lending in India, documents show
Walmart's Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to offer loans directly to customers and sellers on its platform, according to documents reviewed by Reuters and a source. This is the first time the Reserve Bank of India has granted a large e-commerce player in India a non-bank finance company (NBFC) licence, allowing it to lend but not take deposits. Most e-commerce platforms currently offer loans in tie-ups with banks and NBFCs, but a lending licence will enable Flipkart - India's largest e-commerce firm - to lend directly, a more lucrative model for the group. The central bank issued its certificate of registration - a document that officially recognizes a company as an NBFC - to Flipkart Finance Private Limited on March 13. Reuters has reviewed a copy of both the certificate of registration and the approval letter also dated March 13. The approval has not been previously reported. Flipkart, in which U.S. retail behemoth Walmart holds a more than 80% stake, applied for the licence in 2022, according to the central bank's approval letter. Neither Flipkart nor the Reserve Bank of India immediately responded to Reuters' request for comments. The e-commerce giant may commence its lending operation "in a few months", according to a source aware of the matter who declined to be identified as the talks are private. A final decision on the launch will be subject to the completion of various internal processes such as the appointment of key management personnel and board members and the finalisation of business plans, the source said. Flipkart plans to lend directly to its customers on its popular e-commerce platform and through its fintech app the source said. It may also offer financing to sellers on the platform, they added. At present, the e-commerce giant offers personal loans to customers through tie-ups with lenders such as Axis Bank , IDFC Bank and Credit Saison. Flipkart, last valued at $37 billion in 2024 when it raised $1 billion in a funding round led by Walmart, is shifting its holding company from Singapore to India. Walmart also aims to take the 17-year-old company public. Walmart bought a controlling stake in Flipkart in 2018, which also gave it ownership of PhonePe, a fintech firm also preparing for an IPO. Earlier this year Flipkart's rival Amazon acquired a Bengaluru-based non-bank lender Axio, but the deal is yet to be cleared by the central bank. (Reporting by Ashwin Manikandan; Editing by Jan Harvey)
Zawya
2 hours ago
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France's Dassault and India's Tata to produce Rafale fuselage in Hyderabad
France's Dassault Aviation and India's Tata Advanced Systems have agreed to manufacture the fuselage of the Rafale fighter aircraft in India, the companies said on Thursday, the first time it will be produced outside France. India, the world's biggest arms importer, has been looking to step up domestic production and boost defence exports, which jumped 12% in the fiscal year to end-March, to $2.76 billion. Tata will set up a production facility in the southern city of Hyderabad to manufacture key structural sections of the Rafale as part of the agreement, the companies said in a statement. The first fuselage sections are expected to roll off the assembly line in the 2028 financial year, with the facility expected to deliver up to two complete fuselages per month, they said. The statement did not say how much the deal was worth nor whether the finish products would be for domestic use or export, but Tata Advanced Systems said on X that the fuselage would be "for India and other global markets". The Indian Air Force currently operates 36 Rafale fighters. India also signed a deal in April with France - its second-largest arms supplier - to buy 26 naval versions of the jets for $7 billion, which are expected to be delivered by 2030. The South Asian nation is looking to modernise its military and boost domestic weapons' production, particularly to strengthen its defences against neighbours Pakistan and China. India used fighter jets in four-days of fierce clashes with Pakistan last month, after a deadly attack by Islamist assailants that killed 26 men in Indian Kashmir. Pakistan's defence minister had said three of India's Rafale fighter jets had been shot down during the fighting but did not share any evidence. One U.S. official told Reuters that at least one downed Indian aircraft was a Rafale. Dassault Aviation had declined to comment. India's chief of defence staff told Reuters in an interview last week that India suffered losses in the air, but declined to give details. ($1 = 85.7970 Indian rupees) (Reporting by Sakshi Dayal; Editing by YP Rajesh, Kirsten Donovan)
