Latest news with #IPGL
Daily Mail
12 hours ago
- Politics
- Daily Mail
Conservative MP denies Groucho Club sex attack on two women on the same night
Conservative MP Patrick Spencer has today denied sexually assaulting two women on the same night at the exclusive Groucho Club in Soho. The 37-year-old appeared at Westminster Magistrates' Court accused of 'cupping' the two alleged victims' breasts on 12 August 2023. Wearing a smart blue suit, green tie, and thick-rimmed black glasses, the Central Suffolk and North Ipswich stood in the dock to confirm his name and date of birth. The two charges of sexual assault allege he 'intentionally touched a woman aged 16 or over and that touching was sexual when she did not consent and you did not reasonably believe that she was consenting'. He pleaded not guilty to both charges. Prosecutor Polly Dyer told the court Spencer was present at the Groucho Club that night with the two alleged victims. Spencer elected to be tried by a jury and he was bailed ahead of a plea and trial preparation hearing at Southwark Crown Court on 14 July. Lawyers acting for the MP have previously said he 'categorically denies the charges' against him, adding: 'He has co-operated fully with the police investigation from the moment he became aware of it and he will defend the allegations robustly in court.' Spencer had worked in finance for private equity firm IPGL, a company chaired by his father, former Conservative Party treasurer Lord Michael Spencer. Frank Ferguson, head of the special crime and counter terrorism division at the Crown Prosecution Service (CPS), earlier said: 'Following a review of the evidence provided by the Metropolitan Police Service, we have authorised two counts of sexual assault against Patrick Spencer MP. 'The charges follow two alleged incidents involving two separate women at the Groucho Club in central London in August 2023.' He was interviewed by police earlier this year after a complaint about his behaviour was made to the private members club. Spencer was elected to Parliament at the general election last year with a majority of 4,290. The Groucho is a private members' club in Soho's Dean Street. It opened in 1985 and became a well-known haunt of celebrities and media figures. Spencer elected to be tried by a jury and he was bailed ahead of a plea and trial preparation hearing at Southwark Crown Court on 14 July Spencer, who lives in Suffolk with his family, was suspended from the Conservatives following the news of the charges. He is now listed as an independent on the UK Parliament website. He made his maiden speech in the Commons in July last year during a debate on the MPs' code of conduct relating to second jobs, during which he said the 'most important thing to the people across my constituency' was 'restoring a sense of moral probity and public spiritedness to our political system'. Spencer made an application to have his home address withheld from the court which Chief Magistrate Paul Goldspring granted. MPs face being barred from attending Parliament if they are arrested for serious sexual or violent offences after changes last year.
Time of India
10-05-2025
- Business
- Time of India
Sonowal reviews key maritime projects to ensure normal cargo movement
Union Minister Sarbananda Sonowal on Friday conducted a comprehensive review of key maritime projects to ensure normal cargo movement . Considering the ongoing conflict between India and Pakistan, the Ports, Shipping and Waterways minister directed officials to ensure that the business remains normal, according to an official statement. "Sonowal also reviewed measures to be taken to ensure smooth and regular movement of cargo operations," it added. #Operation Sindoor India-Pakistan Clash Live Updates| Missiles, shelling, and attacks — here's all that's happening Pakistani Air Force jet shot down in Pathankot by Indian Air Defence: Sources India on high alert: What's shut, who's on leave, and state-wise emergency measures Major organisations under the ministry, including the Shipping Corporation of India (SCI), Jawaharlal Nehru Port Authority (JNPA), Indian Port Rail and Ropeway Corporation Ltd (IPRCL), Indian Port Global Ltd (IPGL), Directorate General of Shipping, and Mumbai Port Authority, participated in the day-long meeting. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The cost of hearing aids in Agra might surprise you! Learn More Undo In a detailed interaction with the CMD and directors of SCI, Sonowal reviewed current operations, fleet augmentation, and long-term expansion strategies aligned with the government's Vision 2047, the statement said. SCI, India's strategic national shipping line, plays a pivotal role in advancing maritime self-reliance and capacity enhancement. Live Events According to the statement, an in-depth review of the Greenfield Mega Port project at Vadhavan was held with JNPA chairman Unmesh Wagh and senior officials. The minister stressed the need to fast-track the development of the port. He also met IPGL chairman Sunil Mukundan to assess the company's global performance. Discussions also included the progress and future plans for Chabahar Port in Iran and Sittwe Port in Myanmar, key projects that aim to expand India's maritime footprint internationally, the statement noted. Secretary (Ports, Shipping and Waterways) TK Ramachandran, Joint Secretary (Ports) R Lakshmanan, were also present and participated in high-level deliberations.
Mint
05-05-2025
- Business
- Mint
How India's IPGL is flexing its port muscles abroad
State-run Indian Ports Global Ltd (IPGL) is leading a consortium to acquire and operate 20 commercial ports across Asia, Africa and India, two people aware of the matter said. The company, which operates Iran's landmark Chabahar terminal, has set its eyes on ports in Bangladesh, Sri Lanka, Africa, West and East Asia, as well as in India. IPGL, along with a group of state-run companies, has submitted its proposal to the Union shipping ministry, which has asked the Centre for Maritime Economy and Connectivity (CMEC) to examine the plan, the people cited above said on the condition of anonymity. Sunil Mukundan, managing director of IPGL, confirmed the development. 'We have proposed the operation of 20 ports across the globe and in India to the ports and shipping ministry. Further action would be made on getting directions on our proposal," he said. IPGL operates the Shahid Beheshti terminal at Chabahar Port, a strategically important gateway for trade with Afghanistan and Central Asia. The port is crucial for India's connectivity ambitions and its participation in the International North-South Transport Corridor (INSTC) that aims to reduce transit times and costs for trade with Eurasia. Also read | We are generating more cash than we know how to use: Adani Ports MD Karan Adani The IPGL consortium has not revealed its targets, but may start with terminal development work at the Mongla port at Khulna, Bangladesh's second largest and busiest port, as well as at Kankesanturai near Sri Lanka's Jaffna, the people cited earlier said. Presence at these locations, also coveted by China, aims to serve India's strategic and commercial interests along the existing trade routes between Asia-Pacific, Europe and Africa. The Indian government may directly negotiate with its foreign counterparts to advance these deals, one of the two people said. India is keen to develop the Eastern Maritime Corridor, which will link its eastern ports to the Russian port in Vladivostok, with strategic acquisitions of ports, terminals, or trans-shipment presence along the route. The IPGL plan may also include infrastructure projects in the strategic South China Sea area up to Vladivostok. Some African countries have offered India the opportunity to operate their terminals, and IPGL may evaluate some of them, the second person quoted above said. A query sent to the shipping ministry remained unanswered till press time. Read this | India to fast-track Chabahar port works in Iran 'Some Indian private groups have already been very active in acquiring international ports/terminals, and this focused initiative by IPGL will further cement India's role in international maritime trade and help create trading routes which are shielded from international geo-political risk," said Kuljit Singh, Partner and Infrastructure Leader, EY India. "India has been on good terms with most countries, and hence, getting approvals for Indian investments in global ports may not be so difficult and, in fact, such port investments can be leveraged to enhance Indian influence beyond its borders. India can also bring in international best practices for its own ports from these international investments," Singh said. IPGL has previously acquired ports in Iran, Myanmar and Sri Lanka, and has ambitions to expand into Africa as well, said Pushpank Kaushik, chief executive officer and head of business development (Subcontinent, Middle East and Southeast Asia) at Jassper Shipping, adding the latest proposal shows a clear effort to increase strategic reach and improve trade connectivity. "With more ports under its control, India's influence on trade routes and supply chain stability is expected to grow. Control over ports along important corridors like the INSTC and IMEC will help logistics to be streamlined, transit times and costs to be reduced, and supply chains to become more resilient," he added. The G20's proposed India-Middle East-Europe Economic Corridor (IMEC) includes a western maritime corridor connecting India to Europe via the Middle East, including Israel. This corridor aims to enhance trade and connectivity by improving infrastructure and reducing transit times between India and Europe. The IMEC has two main components: an Eastern Corridor connecting India to the Gulf countries and a Northern Corridor connecting the Gulf to Europe. Read this | IMEC: Only peace can pave India's trade pathway to the West via Israel Meanwhile, the INSTC is a 7,200-km multi-modal transportation route that connects the Indian Ocean and Persian Gulf to the Caspian Sea via Iran, and then to northern Europe via Russia. Established in 2000 by India, Iran, and Russia, it aims to enhance trade and connectivity among member countries. India has set up Bharat Ports Global Consortium, bringing together three state-run enterprises—IPGL, Sagarmala Development Co. Ltd (SDCL), and Indian Port Rail and Ropeway Corp. Ltd (IPRCL)—for acquiring ports, and undertaking port and terminal work overseas. While IPGL will oversee operations, IPRCL will build the actual infrastructure, and funding will be raised by SDCL. Along with global port ventures, India is also strengthening its domestic port facilities. The government has approved the ₹ 76,220 crore mega port at Vadhavan in Maharashtra, which will not only scale up country's port infrastructure but also create potential employment opportunities of 1.2 million. Another mega port is proposed at Galathea Bay in the Andaman & Nicobar Islands. This ₹ 44,000 crore project will be developed under a public-private partnership model and aims to capture transhipped cargo currently handled outside India. And read | Adani Ports' latest deal raises growth concerns—markets aren't impressed
Mint
25-04-2025
- Business
- Mint
India to fast-track Chabahar port works in Iran
New Delhi: India plans to fast-track work on expanding the Chabahar port and providing rail links from the strategic port to Iran's border with Central Asia, a senior official said, a move aimed at countering Pakistan's China-backed Gwadar port. Chabahar provides India with an alternative access point to Central Asia and Afghanistan, bypassing both Pakistan and the China-Pakistan Economic Corridor (CPEC). This offers India greater regional connectivity and trade options, reducing its reliance on Pakistan and potentially strengthening its geopolitical influence in the region. 'We have been told by Iranian authorities that a key railway line connecting Chabahar port with Iranian railway network would be ready in a year's time. We are also on course to expanding port capacity five times to 5 lakh TEUs (twenty-foot equivalent unit) while expecting to carry 5 million tonnes of bulk cargo this year," said Sunil Mukundan, Managing Director of India Ports Global Ltd (IPGL), the Indian state-owned entity which operates Shahid Beheshti terminal at Chabahar Port in Iran. A TEU is a measure of volume in units of twenty-foot-long containers. One 20-foot container equals one TEU. Also read | Kashmir simmers but Pakistan's game has no winners As per the plan, India along with Iran would fast-track development of a new rail connectivity route between the Chabahar port and Zahedan city to leverage the strategically located Iranian port as the gateway to the International North–South Transport Corridor (INSTC), providing the main trade channel for Central Asian and Eurasian Countries located on the eastern side of the Caspian Sea and Afghanistan. The rush for railway connectivity is the result of port operations having become viable with a pick-up in movement of both container and dry bulk cargo and Chabahar becoming a major trading channel for India. It also coincides with the expected visit of Iranian foreign minister Abbas Araqchi to India in May. According to the Economic Times newspaper, Chabahar will figure in discussions. The port, as per reports, handled a substantial volume of cargo in FY25, reaching up to 80,000 TEUs and 3 million tonnes (mt) in bulk cargo. In comparison, it had managed just over 64,000 TEUs in FY24 and only around 9,000 TEUs the year before that. In terms of cargo, the port handled 2.12 million tonnes of bulk cargo in FY24 and 2.08 mt in FY23. Also read | India looks to boost air cargo amid Red Sea trade disruptions 'With its strategic geographical location, Chabahar port can be positioned as a gateway for INSTC corridor. The port is presently connected to the hinterland through road network. Feasibility of connecting Chabahar to Zahedan and further to the existing railway network of Iran has been examined by Iran, in consultation with other stakeholders. With the likely increase in traffic, seamless road and rail connectivity from Chabahar port to facilitate transportation of cargo will become very important. Focus of the INSTC member-states, including Iran and India, is therefore on strengthening the connectivity of the Port with the hinterland," said an official of the ministry of ports, shipping and waterways. Work on the 700-km long Chabahar-Zahedan railway line has moved very slowly even though an MoU was signed between Indian Railways' IRCON and Iranian Railways' Construction and Development of Transportation Infrastructures Company (CDTIC) back in 2016. Now, the focus is on implementation as Chabahar is emerging as the next big commercial port in Iran after its biggest, the Shahid Rajaee Port, also known as Bandar Abbas. Located just outside the strait of Hormuz, the Chabahar port offers financial and operational benefits to the Central Asian and Eurasian Countries located on the eastern side of the Caspian sea and Afghanistan and so the efforts for improving rail connectivity of Chabahar port towards eastern side are on to make the port the preferred link among traders. Also read | Trade upheavals: Vietnam is in a tight corner. How resilient is India? India and Iran in May last year signed a long-term contract for the development of Chabahar port after years of protracted negotiations. IPGL has taken over operations of Shahid Beheshti terminals at Chabahar. The facility comprises container terminal and a multi cargo berth. The facility is operational and is already providing services for EXIM bulk and container cargo, both for gateway and transshipment, and a number of concessions are being offered by IPGL to promote use of Chabahar port including discounts, longer free storage times for cargo etc . The port has a deep draft that can handle larger vessels and vessels calling at Chabahar avoid traffic congestion and waiting time at anchorage, being outside the Strait of Hormuz. The road connectivity to Zahedan (Iran) and onwards to Zaranj (Afghanistan) provides seamless connectivity for movement of humanitarian aid from India to Afghanistan through Chabahar port. The Port handles a diverse range of products such as automobile spare parts, agricultural products, iron ore, clinkers etc. and efforts are on to increase the product basket handling at the port. Located in the Sistan-Baluchistan province on Iran's south western coast, the Chabahar port is an important point on Arabian Sea with easy access from India's west coast. Kandla port in Gujarat is the closest to the Chabahar port at 550 Nautical Miles while the distance between Chabahar and Mumbai is 786 Nautical Miles. Since 2019, it has handled container traffic of more than 80,000 TEUs and Bulk and General Cargo of more than 8 million tonne. The port's integration with a special free zone augments its appeal, while India's incentives, such as concessions on vessel-related charges and cargo charges, bolster trade flows through Chabahar, fostering economic growth and cooperation. Chabahar is envisaged as a crucial link in the eastern route of the International North-South Transport Corridor (INSTC), facilitating the movement of goods between India and Central Asian Countries. This collaboration between India and Iran on developing infrastructure and logistics along the 7,200 kms INSTC aims to reduce transportation costs and time, thereby promoting trade between these regions. Also read | Conflict is remaking the Middle East's economic order In 2003, India agreed to help Iran develop the port as well as accompanying infrastructure links during Iranian President Khatami's visit to India. New Delhi's interest in Chabahar came from the port's value as a gateway for Indian goods to reach markets in Afghanistan and Central Asia. However, matters progressed slowly thereafter. In 2013, India committed to providing $ 100 million for the development of Chabahar. A Memorandum of Understanding (MoU) for development of Chabahar Port by India was signed in May 2015. Thereafter, the contract was executed on 23rd May, 2016 at Tehran (Iran) during the visit of Prime Minister of India to Iran for the development of an international trade corridor, which included Chabahar as a central transit point. India agreed to invest $ 85 million in the development of Chabahar's Shahid Behesti terminal. However, the reimposition of sanctions on Iran for its nuclear program hampered India's ability to develop the port. This present agreement aims to enhance regional connectivity and facilitate trade, particularly between India, Iran and Afghanistan. The India Ports Global Chabahar Free Zone (IPGCFZ), a subsidiary of IPGL, facilitated the first consignment of exports from Afghanistan to India in 2019. The operations continued through short terms contracts while negotiations on the Long Term Agreement peaked pace with the visit of Sonowal to Chabahar in August, 2022. Negotiations on the long-term contract were held up over disagreements on arbitration clauses. Mint had earlier reported that the two sides have reached an accommodation which will allow arbitration under rules framed by the UN Commission on International Trade Law (UNCITRAL). Investment in Iranian port facility is first by India in such infrastructure overseas. The capacity of the port for cargo handling is currently 8mt and India proposes to expand it to 18 mt in next phase of its expansion and additional investment to the tune of ₹ 4,000 crore. Also read | India to import Russian coking coal via Iran's Chabahar port India is looking to strengthen its presence in key infrastructure along the route passing through the Persian Guld region. India's Adani Group is already operating Haifa post in Israel and more port deals are expected in the region by Indian entities that will strengthen country's presence on this strategic route that is the main gateway for shipments moving from the Indian subcontinent to Europe. India has major investment plans in the country, largely centered around the Chabahar port as it gives India a strategic advantage over both China and Pakistan. Chabahar Port is at a distance of about 170 kilometers from Pakistan's Gwadar port.
Yahoo
24-04-2025
- Business
- Yahoo
Glasswall Announces Strategic Investment from PSG Equity
Investment to Accelerate Growth, Foster Innovation and Expand Global Reach LONDON, April 24, 2025--(BUSINESS WIRE)--Glasswall, an industry-leading provider of intelligent zero-trust file protection solutions in both the business-to-government (B2G), and business-to-business (B2B) sectors, today announced a strategic growth investment from PSG Equity, a leading growth equity firm that specializes in partnering with software and technology-enabled services companies to drive transformational growth. Using its patented Content Disarm and Reconstruction (CDR) technology, Glasswall helps to protect organizations by proactively rebuilding files to eliminate risks such as malware and ransomware. Its zero-trust cybersecurity solutions are used by government intelligence, defense, critical infrastructure and financial services clients around the world. With PSG Equity's support, Glasswall will seek to accelerate innovation, expand its product offering and strengthen its global footprint across B2G and B2B. "The need for zero-trust file protection solutions is increasing rapidly and we are thrilled to partner with the team at PSG Equity to help us meet that demand, and drive innovation in this sector," said Danny Lopez, CEO of Glasswall. "PSG Equity's seasoned expertise in scaling companies will allow us to expand our zero-trust product offering, better serve our high-profile customer base and support our strategic technology partners across the US, UK and other core markets." As the volume of data file transfer surges – alongside cloud adoption and evolving threat vectors - organizations are increasingly turning to advanced CDR solutions. Industry-wide moves towards zero-trust architectures, driven by new security directives, are accelerating this shift. "Glasswall has developed a critical and industry-leading solution that addresses the growing cybersecurity demands of governments and other high-risk environments," said Christian Stein, Managing Director at PSG Equity. "We are excited to partner with the Glasswall team as they scale their impact, accelerate innovation, and expand across government, critical infrastructure and a wider range of industries. "We are delighted to be a part of Glasswall's continued success alongside PSG Equity, and look forward to the company's next phase of growth at a time when robust and trusted cybersecurity solutions are more important than ever," said Lord Michael Spencer, Chairman of IPGL. IPGL first backed Glasswall in 2019, invested further in 2020, and will remain a significant shareholder alongside PSG Equity. Closing of the transaction is subject to customary regulatory approvals. About Glasswall Glasswall is a cybersecurity company that protects government agencies and commercial organizations from malicious files with its Content Disarm and Reconstruction (CDR) technology. Unlike traditional detection-based methods, Glasswall employs a zero-trust approach, which removes malware's ability to exist in files altogether. Glasswall's CDR technology is mandated for use as a file filter in Cross Domain Solutions by the NSA and is trusted by the world's most sophisticated security establishments. To learn more about Glasswall, visit About PSG Equity PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 150 companies and facilitated over 520 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris, and Tel-Aviv. To learn more about PSG, visit View source version on Contacts Media:PSG Equity pro-psg@
