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Time of India
5 days ago
- Business
- Time of India
Gurgaon's Bristol Chowk becomes the costliest liquor zone with license allotment at nearly Rs 100 crore
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Gurugram's Bristol Chowk situated on the posh Golf Course Road went for almost Rs 100 crore in the liquor licensing auction held on Saturday. At Rs 98.6 crores it is almost double from last year's Rs 49.3 crores, a 4.2% increase from its reserve price of Rs 94.6 crores. This was Haryana's most expensive excise auction till Chowk is a part of Gurugram's West excise zone.'This year's license auction under the new excise policy was for 22 months(June 2025- March 2027) compared to 12 months in the last 2024-25 auction,' as told by officials to winning bid was placed by a G-Town Wines , it was the lone bidder for this Zone. The terms of the license dictate that it can only open two vends in this second place in the 'highest bids table' went to DLF-3 at Rs 63 crores against a reserve price of Rs. 60 crores. The third highest bid came from Shankar Chowk where the winning bid was the same as its reserve price of Rs. 62 lowest amount that anyone can bid for obtaining the liquor license is its reserve price." 50 out of 79 zones in Gurgaon East were auctioned over the weekend. Govt made revenue of Rs 1,270 crore, almost 6% higher than the combined reserve price of Rs 1,198 crore set for these zones," said Amit Bhatia, deputy excise and taxation commissioner to TOI. Horizon Plaza went for ₹46.2 crore, slightly above its reserve price, making it the second-highest bid in Gurgaon East. Bids for Signature Tower, World Mark, and Jalsa remained close to their base with the highest gains over reserve prices included Nawada (+30%), South City (+25%), American Express on SPR (+24.3%), Badshapur (+20.9%), Sikohpur and Kankrola (both +20.5%), Sohna Road (+16.9%), and Banni Square (+12%).The remaining 21 zones in Gurgaon West will be auctioned on June 3, followed by 29 zones in Gurgaon East on June added that the third round of the excise auction saw a stronger response than the previous one, reflecting broader participation in the zone auctions and a favourable reception to the state's excise makes up for approximately two-fifths of Haryana's excise government has set a revenue target of ₹14,064 crore for the current year. In the previous fiscal year (2024–25), collections reached ₹11,491 crore, achieving about 90% of the ₹12,650 crore state cabinet approved the new liquor policy for 2025–2027 on May 5, introducing earlier closing hours for urban vendors, a ban on live performances in ahatas, and prohibiting alcohol sales in villages with populations under 500.(With inputs from TOI)
Time of India
6 days ago
- Politics
- Time of India
A father's arms, a daughter's last breath: What Pakistan's shelling left behind in Poonch
Grief grips the border district of Poonch as families mourn the loss of 14 civilians killed during intense shelling from across the Line of Control (LoC) in early May. Over 65 others were wounded in the relentless assault, which reduced homes to rubble, displaced hundreds, and shattered the fragile calm in this conflict-weary region. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The shelling began in the early hours of May 7, raining down destruction on villages like Sukha Kattha, where Javid Iqbal held his five-year-old daughter Mariyam as shrapnel tore through her small body. 'She died in my arms,' he said, struggling to speak as he held up her photograph. His older daughter, eight-year-old Iram Naaz, was also injured in the the district at Jamia Zia-ul-Uloom, a 52-year-old religious seminary that also houses boarding students, a shell exploded near an under-construction building beside the room of Quran teacher Qari Mohammad Iqbal. The 46-year-old cleric was killed instantly, and four students sustained serious injuries, reported barrage, which lasted for three days, claimed the lives of students, teachers, shopkeepers, homemakers, and even ex-servicemen. With the blasts came a wave of panic. Families fled en masse, streets fell eerily silent, and entire communities were displaced overnight.'Not even in 1965 did we witness this kind of bombardment,' said Zulfikhar Ali, a shopkeeper in Poonch's central market. 'Everyone who could afford to leave, left.'From the night of May 6 to May 10, five shells landed near the residence of BJP functionary Pradeep Sharma. 'It began at 1:45 am and didn't stop for days,' Sharma recounted. 'Doctors did their best, but without ventilators, six to eight lives were lost that could've been saved. We need a trauma center, a medical college here.'By May 10, Sharma estimated 80% of the district had fled. He called for immediate government action — bunkers for each household and permanent jobs not just for the deceased's kin, but also for the wounded. 'Thirty-five of them are carrying wounds they'll never recover from. They're traumatized, forgotten.'Yet even as Poonch grappled with its wounds, another blow came, this one not from across the border, but from national newsrooms. Hours after Qari Iqbal's death, several TV channels falsely identified him as a Lashkar-e-Taiba terrorist killed in " Operation Sindoor ."His brother Farooq Ahmad, sitting quietly at the seminary on May 30, described the pain of the slander. 'We were already mourning, and then came the WhatsApp forwards,' he said. 'People asked, 'Why are news channels calling your brother a terrorist?' He had a beard and a Muslim name, that's all it took. Even in death, he was humiliated.'Poonch police swiftly condemned the reports as 'baseless and misleading,' and warned of legal action against those spreading disinformation. Both J&K's former Chief Minister Omar Abdullah and Congress MP Rahul Gandhi visited the seminary to offer condolences and discuss the media many, survival has come at a heavy price. Nazira Kousar, a mother from Poonch, risked her life running through shellfire on May 7 to reach the hospital where her 14-year-old son, injured at the seminary, had been taken. 'Nothing could stop me,' she said. 'He survived, but now hides under a blanket, terrified. My husband is ill. We can't afford his treatment.'She returned on May 30, seeking help, hoping someone in power might listen this May 31, Union Home Minister Amit Shah distributed job appointment letters to the next of kin of those killed. Among the recipients was Dalbir Singh, whose brother Ranjit Singh, a grocery shop owner, was one of the victims. 'He never married. He was calm and lovable,' Dalbir said, his voice breaking. 'It feels like the sky has fallen. I just want this to end.'At least five members of the local Sikh community were also among the dead, including former Army officer Amarjeet Singh, homemaker Ruby Kaur, and their neighbor Amreek Singh. A gurdwara wall bears the impact of the shelling, a permanent reminder of the violence that swept the smoke clears and silence returns to the hills of Poonch, what remains are stories of heartbreak, resilience, and injustice, and a community struggling to recover not just from war, but from wounds both physical and unseen.
Time of India
29-05-2025
- Business
- Time of India
What is TACO Trade? The term that angers Donald Trump every time it's mentioned
TACO trade, (Trump Always Chickens Out), is reportedly irritating US President Trump. This term highlights Trump's pattern of threatening steep tariffs, causing market panic, and then softening or delaying them. Investors have started buying the dip after Trump's tariff threats, anticipating he won't follow through. Tired of too many ads? Remove Ads How the TACO Trade Works Tariff Threat: Trump announces high tariffs, sparking fears of economic disruption. Market Reaction: Stocks—especially those linked to global trade—drop sharply. Walk-Back: Trump postpones or scales down the tariffs, often citing negotiations. Market Rebound: The market rebounds as investor confidence returns. Tired of too many ads? Remove Ads Trade Threats Became a Trader's Playbook Donald Trump Reacts to TACO Trade FAQs Wall Street has a new buzzword, and it's one that's getting under US president Donald Trump's skin: the 'TACO trade', as per reports. The term was coined by Financial Times columnist Robert Armstrong, which stands for 'Trump Always Chickens Out,' according to term TACO trade was used to highlight a pattern that has become predictable for investors since Trump started his second term. The US president has, multiple times, threatened steep tariffs on imports, sparking panic across markets, only to later soften the blow or delay the move altogether, as per how it typically works: first, Trump drops a bombshell announcement, like the recent 50% tariff on European goods, rattling global markets. Just a few days back, Trump threatened to impose a 50% tariff on European goods from June 1, causing a market fall, as per TOI. However, he later extended the deadline to July 9 to allow for more negotiations, triggering a rally in stock futures, reported READ: Who is Bryan Johnson, the billionaire known for anti-ageing experiments and plans to live until 2140 to see Bitcoin's last halving? Tom Essaye of the Sevens Report wrote in a note to clients, that, 'The thesis behind the TACO trade is: Buy the Trump tariff dip,' quoted Bloomberg. Essaye said, 'Essentially, Trump has proven to investors that he won't actually follow through with draconian tariffs. As such, any sell-off following a dramatic tariff threat should be bought,' as quoted in the new term has angered Trump and even pointed out that TACO trade misrepresents his approach, he told reports on Wednesday in the Oval Office, according to said, 'They wouldn't be over here today negotiating if I didn't put a 50% tariff on,' adding, 'The sad thing is, now, when I make a deal with them - it's something much more reasonable - they'll say, 'Oh, he was chicken. He was chicken.' That's unbelievable,' as quoted in the reportIt stands for " Trump Always Chickens Out ", it used to describe Trump's habit of backing off from bold tariff Armstrong, a columnist for the Financial Times, introduced the term, and it quickly caught attention.
Economic Times
20-05-2025
- Business
- Economic Times
IIT-trained hacker arrested in Rs 22 lakh stock advisory scam linked to Cambodia cybercrime network
IIT-trained hacker, 3 others held in Rs 22 lakh cross-border stock scam. Synopsis An IIT-trained "ethical hacker" and three others were arrested for running a cross-border cyber scam that defrauded investors via fake stock advisory groups. Operating under a Cambodia-based syndicate, the gang used AI tools, shell firms, and cryptocurrency to launder funds. A Delhi man's Rs 22 lakh loss led to their arrest in raids across four Indian cities. An IIT-trained 'ethical hacker' and his associate have been arrested for their alleged involvement in a cross-border cybercrime racket that duped investors by posing as stock market advisors. The duo collected funds through a complex web of fake companies and cryptocurrency channels. ADVERTISEMENT According to a report by The Times of India, the key accused, Girish Pandey, who completed a course from the Indian Institute of Technology, teamed up with Anvesh Makkhan, a physics graduate, to defraud victims of at least Rs 22 lakh. The two were reportedly operating under the direction of handlers from a Cambodia-based cybercrime syndicate. Pandey and Makkhan allegedly created fake stock advisory groups on Telegram and WhatsApp, offering fraudulent investment tips and luring victims to invest in fake IPOs and trading schemes. The collected money was routed through shell companies, and withdrawn using cooperative banks, offline RTGS transactions, and cryptocurrencies, including USDT (Tether). 'These two worked as money mules, collecting the proceeds of fraud and sending them to Cambodia,' a senior police officer told accused used fake identities and SIM cards to mask their activities but were eventually traced through cyber forensic analysis. ADVERTISEMENT In coordinated raids across Delhi, Aligarh, Udham Singh Nagar (Uttarakhand), and Kanpur, police arrested Pandey (31), Makkhan (32), and two other associates — Divyansh Chaudhary (34) and Avi Bansal (30).The racket reportedly operated across several Indian states, using numerous bank accounts to layer and launder transactions. One of the firms used in the operation was identified as Bird Technology Pvt Ltd. ADVERTISEMENT Police said Chaudhary managed Indian operations, providing bank accounts and onboarding victims for a 10% commission. ADVERTISEMENT The Cambodia-based cybercrime module is believed to have deployed AI tools to identify high-potential targets. These victims were added to advisory chat groups where they were manipulated using fake gain screenshots and testimonials, eventually persuading them to invest increasing amounts — in some cases, their entire life savings.'They worked with Chinese nationals and Cambodian associates,' said a police officer. 'Funds were collected through fake companies, cooperative banks, offline RTGS, and crypto transactions.'The arrests were triggered by a complaint from a Delhi-based victim who lost Rs 22 lakh. Investigators tracked the trail through multiple mule accounts, eventually leading them to the North-East Delhi residence of one of the accused. ADVERTISEMENT Police are now pursuing leads to identify and arrest other members of the international cybercrime network. Also read | Ramesh Damani portfolio stock Protean falls another 13%, now down 30% in 2 days (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? 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Time of India
12-05-2025
- Politics
- Time of India
Operation Sindoor: What India gained and what Pakistan lost in this conflict
A New Normal in India-Pakistan Relations Air Strikes on Pakistan's Military Bases Live Events Sending a Clear Message (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India successfully achieved three key objectives, political, military, and psychological, through its military strikes on 7 May, according to government sources quoted by military objective, as stated by the Prime Minister, was to 'reduce the terrorists to dust.' This was reportedly accomplished in Bahawalpur, Muridke, and Muzaffarabad. The political aim was to increase the cost of supporting terrorism for Pakistan and to suspend the Indus Waters Treaty until Pakistan ends its cross-border terrorism. The psychological aim was to send a strong message that 'no place is safe' for terrorists, underlining India's intent to strike inside enemy territory if said the strikes marked a shift in India's approach towards Pakistan, the Line of Control (LoC) and nuclear threats could no longer be used as cover for terrorism. India had made its position clear after the Pahalgam attack: it would hit terror camps in Pakistan. The PM had instructed the armed forces to respond to every 'goli' (bullet) with a 'gola' (cannonball).Although large-scale violence has now stopped, Operation Sindoor is not yet over. The suspension of the Indus Waters Treaty will continue until Pakistan stops sponsoring terrorism. PM Modi had already conveyed India's determination to US President Donald Trump on 22 April, while in Saudi Arabia. On 1 May, External Affairs Minister S. Jaishankar had also informed US Senator Marco Rubio about India's decision to strike terror camps in a recent briefing, Air Marshal A.K. Bharti, Director General of Air Operations, said that the Indian Air Force (IAF) launched precision strikes on Pakistan's airbases and radar installations. These actions followed repeated drone attacks from Pakistan on Indian military and civilian Marshal Bharti presented 'before and after' satellite images showing major damage to key Pakistani airbases, including runways, aircraft hangars, and support buildings. The affected sites included Sargodha (which houses F-16 jets), Skardu, Jacobabad, Bholari, Sukkur, and Rahim Yar Khan.'To begin with, our fight was only with the terrorists, not the Pakistani military,' Bharti said. 'But the relentless attacks left us with no choice.' A notice to airmen (NOTAM) issued by Pakistan confirmed that the runway at Rahim Yar Khan would remain closed for at least a said the real aim was not just damage, but to send a message, that India could strike deep within Pakistan. The strikes were carefully planned to avoid civilian casualties and infrastructure total, India targeted nine airbases, including Rafiqui and Murid, along with radar sites at Pasrur, Chunian, and IAF used a range of advanced weapons in the mission: Sukhoi-30MKI fighter jets equipped with extended-range BrahMos missiles (450 km), Crystal Maze-2 missiles, Scalp cruise missiles, Hammer guided munitions, and Spice-2000 Sukhoi-30MKIs have a combat range of about 1,500 km without needing mid-air refuelling. With BrahMos missiles flying at nearly three times the speed of sound (Mach 2.8), this weapons combination proved highly effective. Around 40 Sukhoi jets have now been upgraded to carry IAF has been practising long-range precision strikes in the Bay of Bengal region for quite some time, and this operation demonstrated that capability on the western military actions under Operation Sindoor have been defined by 'precision' and 'professionalism'. The strikes were aligned with the country's national objectives and intended to convey a clear message to Pakistan about the consequences of supporting terrorism. The successful execution of these strikes highlights India's preparedness to respond decisively to any threat.
