Author: Shilpi Gupta

Following the US’s announcement of tough new measures to limit technology sales to China, shares in major Asian computer chipmakers have fallen.

According to the US, American companies will not be allowed to sell certain chips used in supercomputers and artificial intelligence to Chinese companies.

The regulations, which were made public on Friday, also target purchases made by foreign businesses using American-made machinery.

As the world economy weakens, technology companies are also witnessing a decline in demand.

On Tuesday, the stock of Taiwanese chipmaker TSMC fell more than 8%, Tokyo Electron in Japan dropped 5.5%, and Samsung Electronics in South Korea dropped 1.4%.

The declines followed the reopening of the stock markets on Tuesday in Taiwan, Japan, and South Korea following their closure on Monday for public holidays.

In other parts of Asia, shares of SMIC, the largest chipmaker in China, declined by 4% in Hong Kong.

According to the rules, US businesses must apply for a license before supplying Chinese chipmakers with machinery that can produce more sophisticated chips.

According to Washington, the regulations aimed to stop Chinese military and technological advancements.

The measures signal one of the most significant changes in US policy toward technology exports to China in decades, some of which take effect right away.

The Nasdaq index, which is heavily weighted toward technology, fell on Monday in the US, dropping to its lowest level since July 2020 as shares of chipmakers Intel, Nvidia, Qualcomm, and Advanced Micro Devices declined.

Lower demand for electronic products, including computers and smartphones, has recently hurt technology shares around the world.

FAQ

• How much TSMC fell on Tuesday?

Ans. 8%

• How much Tokyo Electron in Japan dropped?

Ans. 5.5%

• How much is Samsung Electronics in South Korea?

Ans. 1.4%

According to a senior executive who spoke with ET, Artha Group is looking to close a Rs 450 crore opportunity fund to support winners from its current portfolio. The new vehicle, Artha Select Fund (ASF), has more than Rs 100 crore in commitments from current limited partners or sponsors of Artha Venture Fund (AVF), and it has a Rs 120 crore green shoe option.

Anirudh Damani-led ASF will make investments in growth rounds of businesses supported by AFV and Artha India Ventures.

ASF’s umbrella organization, the Mumbai-based Artha Group, has invested in more than 100 startups in countries like India, the UK, the US, Israel, Africa, and Africa.

Among the startups in its India portfolio are Oyo, Purplle, LeveragEdu, and Rapido. Family offices in the United States, United Arab Emirates, Israel, Russia, Morocco, and the Middle East, ultra-high net worth individuals (UHNIs), and the Small Industries Development Bank of India (SIDBI) helped AVF raise Rs 225 crore in June of last year. “We’ve successfully demonstrated significant value creation to our LPs. They were aware of the level of commitment we have to our startups, Damani said. “A large portion of our team manages portfolios, so they understand what we do for those companies, so they return, and many of them have increased their investment in that portfolio.” According to him, AFV has produced returns on invested capital (the value or performance of an investment relative to its initial cost) of 3.61x and an internal rate of return (IRR) of more than 120%. IRR is a tool used in financial analysis to calculate potential investments’ profitability. ASF was established by Artha Group with the goal of supporting its category-winning startups during their subsequent funding rounds. In the Series B round and the Series C round, this winners-only fund will invest up to Rs 20 crore each.

FAQ

• How many funds are looked at by the Artha Group?

Ans. Rs 450

• What is the full form of AVF?

Ans. Artha Venture Fund 

1. What is the full form of ASF?

Ans. Artha Select Fund 

Russia brutally retaliated for the attack on the Crimean bridge this morning by launching a hail of indiscriminate missile fire across Ukraine.

According to Russian President Vladimir Putin, it was in response to an “act of terrorism” that Ukraine was responsible for.

But it was also Mr. Putin’s response to the hawks in his own camp, who have been growing more vocal and agitated as a result of Russian losses in the conflict.

Those pro-Kremlin officials and TV hosts who were depressed and dejected just a few days ago are now applauding this attack on their neighbor, gloating, and even dancing in social media posts as Ukraine mourns for its dead and sorts through the debris of multiple attacks.

It was Gen. Sergei Surovikin’s first day of work when the missile barrage began.

His appointment this weekend as head of Russia’s war effort was a concession to hardliners by Mr. Putin.

The general was already regarded as brutal due to his resume, which included the indiscriminate Russian bombardment of Syria and the deaths of pro-democracy protesters in Moscow in 1991 during the attempted coup.

His reputation was true this morning.

Russian dismay over the war’s development reached a peak after the attack on the Crimean bridge on Saturday.

The illegal annexation of Crimea in 2014, a symbol of Russia’s claim to Ukraine, had gone up in flames, and the hardliners were calling for retaliation with the loudest voices in this conflict.

They had been advocating for attacks on civilian infrastructure for a while, saying that if their soldiers couldn’t be defeated on the battlefield, they should freeze the Ukrainian people into submission this winter.

Propagandist Vladimir Solovyov asked when we would actually start fighting, claiming it was better for Russia to be feared than laughed at.

FAQ

• Where does the attack take place?

Ans. Crimean bridge 

• What were the words of the President of Russia?

Ans. It was an act of terrorism, and Ukraine is responsible for it. 

• When did the illegal annexation of Crimea take place?

Ans. 2014

Users now have access to a new privacy feature on WhatsApp. One of the biggest updates to the messaging app is the ability to hide your online status in chats. The Signal app already includes this significant privacy feature. WhatsApp still lacks a few additional privacy features, like screenshot blocking and an incognito keyboard. But in order to give users more convenience and better control over their privacy, it is gradually integrating it into its messaging app.

Now, you can easily hide it by going to the settings section of WhatsApp if you don’t want your contacts to know when you are online or using the app. You won’t be able to see your friends’ online presence, though, if you disable the Online Status feature for them. The latest update can be found in the same section and operates similarly to the Last Seen feature.

Every feature, however, has a drawback, and this one is no different. WhatsApp’s most recent privacy update makes it challenging for users to determine if someone has blocked them. It will be challenging to recognize blocked status if a user hides all three privacy options (Online, Profile Photo, and Status) in the Privacy section of the app.

Users will now only have one choice for determining whether they have been blocked by someone. Two checkmarks in the chat window indicate that your message has been received and that you have not been blocked. The individual’s internet could, however, be down, and WhatsApp won’t function without it. Therefore, if the sender’s mobile data is turned off, the recipient won’t receive your message and the chat will only display one check mark. When the receiver turns on the internet, the chat will show two checkmarks if someone hasn’t blocked you.

Police in The Gambia has opened an investigation into the 66 child deaths that have been connected to four different imported cough syrup brands.

According to the president’s office, senior figures from the Medicine Control Agency and the importers have been summoned for interrogation.

The administration, according to President Adama Barrow, would “leave no stone unturned” in the investigation.

Gambians are upset about what happened and trying to figure out who is to blame.

The World Health Organization (WHO) issued a global alert on the four cough syrups on Wednesday, cautioning that they may be responsible for the children’s deaths in July, August, and September as well as acute kidney injuries.

The products were made by an Indian company, Maiden Pharmaceuticals, and included Promethazine Oral Solution, Kofexmalin Baby Cough Syrup, Makoff Baby Cough Syrup, and Magrip N Cold Syrup. The WHO claimed that Maiden Pharmaceuticals had failed to guarantee the products’ safety.

The situation is being looked into by the Indian government as well. A BBC request for comment has received no response from the company.

Red Cross volunteers and Gambian health officials are currently searching for syrups and other medications by going door to door, to markets and pharmacies, as well as in those locations.

The BBC was informed by a Red Cross representative that more than 16,000 products have so far been discovered and removed for destruction.

President Barrow apologized for the deaths and promised an investigation into “the source of the contaminated drugs” in his address to the nation on Friday.

In addition to plans to review pertinent laws and regulations for imported drugs, he announced plans to open a lab that can assess the safety of medications.