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Manmohan Singh's father may have believed his bookworm son would one day lead India, but the understated technocrat with the trademark blue turban, who died Thursday at the age of 92, never dreamed it would actually happen. Singh was pitchforked into leading the world's largest democracy in 2004 by the shock decision of Congress leader Sonia Gandhi to turn down the role after leading the party to an upset win over the ruling Hindu nationalists. He oversaw an economic boom in Asia's fourth-largest economy in his first term, although slowing growth in later years marred his second stint. Known as "Mr Clean", Singh nonetheless saw his image tarnished during his decade-long tenure when a series of corruption cases became public. As finance minister in the early 1990s, he was hailed at home and abroad for initiating big-bang reforms that opened India's inward-looking economy to the world. Known as a loyalist to the Gandhi political dynasty, Singh studied economics to find a way to eradicate poverty in the vast nation and never held elected office before becoming PM. But he deftly managed the rough and tumble of Indian politics -- even though many said Sonia Gandhi, the Italian-born widow of the assassinated Rajiv Gandhi, was the power behind the throne. Born in 1932 in the mud-house village of Gah in what is now Pakistan, Singh moved to the holy Sikh city of Amritsar as a teenager around the time the subcontinent was split at the end of British rule into mainly Hindu India and Muslim Pakistan. His father was a dry-fruit seller in Amritsar, and he had nine brothers and sisters. He was so determined to get an education he would study at night under streetlights because it was too noisy at home, his brother Surjit Singh told AFP in 2004. "Our father always used to say Manmohan will be the prime minister of India since he stuck out among the 10 children," said Singh. "He always had his nose in a book." Singh won scholarships to attend both Cambridge, where he obtained a first in economics, and Oxford, where he completed his PhD. He worked in a string of senior civil posts, served as a central bank governor and also held various jobs with global agencies such as the United Nations. Singh was tapped in 1991 by then Congress prime minister P.V. Narasimha Rao to reel India back from the worst financial crisis in its modern history -- currency reserves had sunk so low the country was on the brink of defaulting on foreign loans. Singh unleashed sweeping change that broke sharply with India's Soviet-style state-directed economy. In his first term he steered the economy through a period of nine-percent growth, lending the country the international clout it had long sought. He also sealed a landmark nuclear deal with the US that he said would help India meet its growing energy needs. But by 2008 there was growing disquiet among the ruling alliance's left-leaning parties about the pact, while high inflation -- notably food and fuel prices -- hit India's poor hard. Still, voters remained drawn to his calm, pragmatic persona, and in 2009 Congress steered its alliance to a second term. Singh vowed to step up financial reforms to drive economic growth, but he came under increasing fire from critics who said he had done nothing to stop a string of corruption scandals on his watch. Several months before the 2014 elections, Singh said he would retire after the polls, with Sonia Gandhi's son Rahul earmarked to take his place if Congress won. But Congress crashed to its worst-ever result at that time as the Hindu-nationalist Bharatiya Janata Party, led by Narendra Modi, won a landslide. More recently, an unflattering book by a former aide titled "The Accidental Prime Minister" portrayed him as timid and controlled by Sonia Gandhi. Singh -- who said historians would be kinder to him than contemporary detractors -- became a vocal critic of Modi's economic policies, and more recently warned about the risks that rising communal tensions posed to India's democracy. pmc-grk/abh/fox/leg/sms
Jennifer Lopez and Emme go for a Christmas morning walk in AspenA flood of investors in the spot Bitcoin ETFs push the BTC price to a remarkable high of $100,000. As BTC price turns bullish, altcoins also witness a surge in their momentum with Shiba Inu (SHIB) and DTX Exchange (DTX) set to lead the rally. Shiba Inu (SHIB) sustains its bullish momentum despite some recent drops and reclaims back its previous highs while DTX Exchange’s distinct set of features makes it a DeFi king raising almost $10 million in the presale phase. The impressive trajectory of both Shiba Inu (SHIB) and DTX Exchange (DTX) compels market experts to believe that they are ready to soar higher than the BTC rally! Bitcoin Price Nears $100,000 As Inflows Boost Spot Bitcoin ETFs Bitcoin came within striking distance of the historic $100,000 mark on reaching $99,654 on November 22. However, the BTC price has since shown signs of hesitation, struggling to push past this milestone. BTC’s price experienced a brief dip last week to around $92,500. But it’s once again hovering around $96,000, with eyes set on the elusive $100,000 target. This recent upward momentum has been fueled by a surge in investor interest in spot Bitcoin ETFs, following notable outflows on November 25 and 26. According to ETF Tracker Farside, spot Bitcoin ETFs saw significant inflows on November 27 and 29, totaling $103 million and $320 million, respectively. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, attracting $137 million, while Fidelity’s Wise Bitcoin Origin Fund (FBTC) followed with $106 million. This renewed enthusiasm for spot Bitcoin ETFs is helping to drive Bitcoin’s price push toward the six-figure milestone. Shiba Inu (SHIB) Finally Breaches $0.000032, Sustains Bullish Momentum After Drop to $0.000026 The Shiba Inu (SHIB) news reveals that the crypto market is now showing signs of a patchy recovery push following a short period of bearish pressure. As Bitcoin (BTC) collapsed from the $99,800 peak on Nov. 22, altcoins like Shiba Inu (SHIB) suffered. Specifically, Shina Inu (SHIB) slumped to a low of $0.000023 on Nov. 26 amid a 6% drop in three days but eventually recovered. It rode on this rebound campaign to record a 15% spike on Dec. 1 but suddenly crashed by over 7% in the days that followed to retest the $0.000026 low. However, it appears Shiba Inu (SHIB) is now leveraging the ongoing market push to eye greater heights as the BTC price hits $100,000. The meme coin witnessed a massive 14.82% price rally yesterday, soaring to a peak of $0.000033 before facing a pullback that has spilled into this morning. Market data confirms that despite the previous occasional drops, Shiba Inu (SHIB) has maintained a bullish momentum since early November. The weekly chart indicates that Shiba Inu broke above a 7-week falling wedge when it spiked 54% in the first week of November. Thus, Shiba Inu (SHIB) is set to soar in this bull run. DTX Exchange’s Presale Mania Blazes As Stage 6 Nears $10 Million Target DTX Exchange (DTX) is fast approaching launch as it concludes phase five of its presale and continues stage 6. Those who bought into it early are enjoying a 200% return as the token price moved to $0.12. With $9.5 million already raised, this is a project to add to your wallet even now. DTX Exchange will facilitate trading over 120,000 financial assets, like commodities, stocks, crypto coins, etc. What is exciting is that the exchange will support direct trading between crypto and real-world assets. Investors eager to support this project are now buying its native token, DTX. This DeFi coin is now worth just $0.12. However, once the presale concludes, this price will jump to $1, a 700% surge. The hybrid platform integrates the best features of both centralized and decentralized exchanges. It includes smart contracts, distributed liquidity pools, and an on-chain order book, striving to connect conventional financial systems with the rapidly expanding crypto market. DTX’s revenue sharing program, known as the VIP rebate program, will allow investors to earn up to 3% of exchange revenue from various sources like trading fees. The VIP rebate program’s staking feature adds an advantage for investors. With it, investors can earn up to 33% APY, among the industry’s highest. These features help investors generate passive income and appreciate the price of assets. Thus, the emerging platform is set to soar just like BTC in this bull run. Key Takeaways The spot Bitcoin ETFs see a surge in investors, which drives the price of BTC to an all-time high of $100,000. Altcoins see a spike in momentum as the BTC price becomes positive, with Shiba Inu (SHIB) and DTX Exchange (DTX) expected to spearhead the rally. While DTX Exchange's unique set of characteristics makes it invincible, raising about $10 million in the presale phase, Shiba Inu (SHIB) maintains its bullish momentum and reclaims new highs. Learn more: Buy Presale Visit DTX Website Join The DTX Community Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
On Thursday, Eli Lilly And Co LLY announced a $3 billion expansion of its Kenosha County, Wisconsin, manufacturing facility to address the rising demand for diabetes, obesity, and pipeline medicines . This investment, the company’s largest U.S. manufacturing commitment outside Indiana, will create 750 advanced manufacturing jobs and further solidify Wisconsin’s position in the pharmaceutical industry. Also Read: Eli Lilly’s Zepbound Vs. Novo Nordisk’s Wegovy – Which Shows Greater Weight Loss? Construction for the expanded facility is slated to begin in 2025. The project is part of Lilly’s broader global manufacturing expansion, which has seen over $23 billion in investments since 2020 to enhance production capabilities worldwide. This Wisconsin initiative will add injectable medicine production, device assembly, and packaging operations to Lilly’s portfolio. The Wisconsin project also incorporates advanced automation technologies, including robotics and digital data management systems, to streamline operations, enhance accuracy, and accelerate medicine production. With this expansion and related investments, Lilly’s total commitment in Wisconsin reached $4 billion. The initiative includes over 2,000 construction jobs during the project and long-term positions for operators, technicians, engineers, and scientists. In October, Eli Lilly announced a $4.5 billion investment to create the Lilly Medicine Foundry, a new center for advanced manufacturing and drug development . The company said the new facility will allow Lilly to research new ways of producing medicines while scaling up the manufacturing of medicines for clinical trials. In May, Eli Lilly more than doubled its investment in its Lebanon, Indiana, manufacturing site with a new $5.3 billion commitment, increasing its total investment from $3.7 billion to $9 billion . Separately, the company has invested an additional $1.2 billion to update existing manufacturing facilities in Indianapolis and recently acquired an injectable manufacturing facility in Pleasant Prairie, Wisconsin, from Nexus Pharmaceuticals. Price Action: LLY stock is trading higher by 0.80% to $832.50 at the last check on Friday. Read Next: Hurricane Impacts Kirkland’s Q3 Performance, Focuses On Beyond Partnership To Sparks Growth Photo via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Ogige Market Traders and the Nsukka Business Community have commended the speedy completion of the Nsukka Terminal Station, a landmark project initiated and executed by the Enugu state government under the leadership of Governor Peter Mbah. This was even as the President of Nsukka Zonal Amalgamated Traders Association (NZATA), Dr. Ezema Dominic, described the governor as a gift to the people of Nsukka, stressing that Mbah was already reviving the economy of the zone through his committed efforts in infrastructural transformation. The traders and business leaders, who gathered at the newly completed terminal, yesterday, to thank the governor, who was on an unscheduled visit to inspect the terminal, expressed their gratitude to Governor Mbah for his commitment to delivering the project, which is expected to boost economic activities in the area. The President of NZATA praised Governor Mbah’s administration for prioritising and focusing on delivering of democracy dividends in the zone, saying it would enhance the market’s competitiveness and attract more development. “We are indeed grateful to Governor Mbah for this, and many other magnificent projects in Nsukka. The Nsukka Terminal Station will not only improve the aesthetic value of our market, but also increase our sales and revenue. It will solve the challenges of transportation and bolster our economy,” he said. He added that Mbah was transforming the ancient Nsukka zone from what it used to be to modern cities and towns which had given sense of pride to every Nsukka indigene. “We are glad that these projects are happening in our lifetime. Governance requires courage and the governor has shown that courage in leadership. In fact, if you take a look at what is happening in Igbo Nsukka today, you will have a conclusive view that Governor Mbah is a gift to us because what Nsukka is witnessing today is a total turnaround. “This terminal station, and of course the roads being constructed will not only affect the economic sector, but also have positive impact on the entire sectors in Nsukka. People from different places can now come to Nsukka and do business. We have not had it better than now,” he added. A shop owner close to the terminal station who identified himself as Mr. Donald Ugwu also commended the governor for his vision and leadership, maintaining that the project would stimulate economic growth and development in the area.None
President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. While immigration officials have used the tech for years, an October letter from the Department of Homeland Security obtained exclusively by The Associated Press details how those tools — some of them powered by AI — help make life-altering decisions for immigrants, including whether they should be detained or surveilled. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency's supervision. The letter, sent by DHS Chief Artificial Intelligence Officer Eric Hysen to the immigrant rights group Just Futures Law, revealed that the score calculates the potential risk that an immigrant — with a pending case — will fail to check in with Immigration and Customs Enforcement officers. The algorithm relies on several factors, he said, including an immigrant’s number of violations and length of time in the program, and whether the person has a travel document. Hysen wrote that ICE officers consider the score, among other information, when making decisions about an immigrant’s case. “The Hurricane Score does not make decisions on detention, deportation, or surveillance; instead, it is used to inform human decision-making,” Hysen wrote. Also included in the government’s tool kit is a mobile app called SmartLINK that uses facial matching and can track an immigrant’s specific location. Nearly 200,000 people without legal status who are in removal proceedings are enrolled in the Alternatives to Detention program, under which certain immigrants can live in the U.S. while their immigration cases are pending. In exchange, SmartLINK and GPS trackers used by ICE rigorously surveil them and their movements. The phone application draws on facial matching technology and geolocation data, which has been used before to find and arrest those using the app. Just Futures Law wrote to Hysen earlier this year, questioning the fairness of using an algorithm to assess whether someone is a flight risk and raising concerns over how much data SmartLINK collects. Such AI systems, which score or screen people, are used widely but remain largely unregulated even though some have been found to discriminate on race, gender or other protected traits. DHS said in an email that it is committed to ensuring that its use of AI is transparent and safeguards privacy and civil rights while avoiding biases. The agency said it is working to implement the Biden administration’s requirements on using AI , but Hysen said in his letter that security officials may waive those requirements for certain uses. Trump has publicly vowed to repeal Biden's AI policy when he returns to the White House in January. “DHS uses AI to assist our personnel in their work, but DHS does not use the outputs of AI systems as the sole basis for any law enforcement action or denial of benefits,” a spokesperson for DHS told the AP. Trump has not revealed how he plans to carry out his promised deportation of an estimated 11 million people living in the country illegally. Although he has proposed invoking wartime powers, as well as military involvement, the plan would face major logistical challenges — such as where to keep those who have been detained and how to find people spread across the country — that AI-powered surveillance tools could potentially address. Karoline Leavitt, a spokesperson for Trump, did not answer questions about how they plan to use DHS’ tech, but said in a statement that “President Trump will marshal every federal and state power necessary to institute the largest deportation operation” in American history. Over 100 civil society groups sent a letter on Friday urging the Office of Management and Budget to require DHS to comply with the Biden administration’s guidelines. OMB did not immediately respond to a request for comment. Just Futures Law’s executive director, Paromita Shah, said if immigrants are scored as flight risks, they are more likely to remain in detention, "limiting their ability to prepare a defense in their case in immigration court, which is already difficult enough as it is.” SmartLINK, part of the Intensive Supervision Appearance Program, is run by BI Inc., a subsidiary of the private prison company The GEO Group. The GEO Group also contracts with ICE to run detention centers. ICE is tight-lipped about how it uses SmartLINK’s location feature to find and arrest immigrants. Still, public records show that during Trump’s first term in 2018, Manassas, Virginia-based employees of BI Inc. relayed immigrants’ GPS locations to federal authorities, who then arrested over 40 people. In a report last year to address privacy issues and concerns, DHS said that the mobile app includes security features that “prohibit access to information on the participant’s mobile device, with the exception of location data points when the app is open.” But the report notes that there remains a risk that data collected from people "may be misused for unauthorized persistent monitoring.” Such information could also be stored in other ICE and DHS databases and used for other DHS mission purposes, the report said. On investor calls earlier this month, private prison companies were clear-eyed about the opportunities ahead. The GEO Group’s executive chairman George Christopher Zoley said that he expects the incoming Trump administration to “take a much more aggressive approach regarding border security as well as interior enforcement and to request additional funding from Congress to achieve these goals.” “In GEO’s ISAP program, we can scale up from the present 182,500 participants to several hundreds of thousands, or even millions of participants,” Zoley said. That same day, the head of another private prison company told investors he would be watching closely to see how the new administration may change immigrant monitoring programs. “It’s an opportunity for multiple vendors to engage ICE about the program going forward and think about creative and innovative solutions to not only get better outcomes, but also scale up the program as necessary,” Damon Hininger, CEO of the private prison company CoreCivic Inc. said on an earnings call. GEO did not respond to requests for comment. In a statement, CoreCivic said that it has played “a valued but limited role in America’s immigration system” for both Democrats and Republicans for over 40 years.