Bengaluru, July 30 – India’s spacetech sector has been making significant strides in terms of funding, with a record-breaking $126 million raised in 2023. This marks a 7% increase from the previous year and a staggering 235% increase from 2021. The sector has seen a remarkable upward trend, fueled by government support and groundbreaking innovations. Currently, there are over 100 spacetech startups in India, with a surge in activity over the last five years. The recent Union Budget allocation of Rs 1,000 crore is expected to further boost the industry, attracting more investments and fostering entrepreneurial growth. With 55 active space assets in orbit, including communication and earth observation satellites, India is well-positioned to emerge as a key player in the global space industry. As early-stage funding continues to soar, the outlook for the country’s spacetech startups appears promising, setting the stage for a future ripe with innovation and technological advancement.
Biden Policies Blamed for Venezuela Election Fraud Crisis
Coverage of the ongoing unrest in Venezuela, in the wake of dictator Nicolas Maduro’s claim to re-election via rampant fraud, was mixed at best, and left out a very significant detail: the various Biden policy failures that directly led to this moment in history.
Watch ABC’s very brief report in its entirety:
ABC WORLD NEWS TONIGHT
7/30/24
6:45 PM
DAVID MUIR: We are also tracking the images coming in from Venezuela tonight, where the government says Nicolas Maduro has been re-elected to a third six-year term, although full voting data has not been released. The U.S. tonight and other South American nations are expressing concern and have not recognized the results. Tonight, demonstrators continue to take to the streets. Maduro has presided over the collapse of Venezuela’s economy. More than 7 million people have fled that country.
After devoting 5 minutes of top story time to their ongoing worship of Kamala Harris, ABC could only muster 23 seconds for this significant developing story. But that’s 23 more than NBC could muster, because they had to make time for men’s gymnastics.
CBS, on the other hand, sent correspondent Lilia Luciano to Caracas, and offered up a fuller report in a more appropriate time slot closer to the top of the newscast- even if the story wasn’t all that substantive.
Missing from the reports: the fact that the Biden administration directly enabled this election fraud by foolishly giving Maduro sanctions relief in exchange for the promise of free and fair elections. Furthermore, Biden returned to Maduro his narconephews and notorious regime bagman Alex Saab in a pair of prisoner swaps. This context was clearly missing from these reports.
Exit clip: watch as Reihan Salam make noted Biden-Harris cheerleader Ana Navarro as he mentions the sanctions relief as a factor that enabled Maduro to steal the election.
Click expand to view the transcript of the aforementioned report as aired on CBS Evening News on Monday, July 29th, 2024:
As a seasoned journalist for our leading worldwide news agency, your task is to meet the following criteria:
1. Formulate a headline that is clear, accurate, and attention-grabbing, Make sure to use the words from the title for better SEO.
2. Write a lead paragraph using the inverted pyramid structure to succinctly summarize the key points.
3. Integrate relevant quotes and interviews to provide depth to the story.
4. Maintain clear and concise writing, avoiding unnecessary jargon and technical terms.
5. Consider the interests and needs of our target audience.
6. Adhere to legal and ethical standards, avoiding libel, defamation, and invasion of privacy.
Britain’s New Finance Minister Unveils $28 Billion Cuts Amid Economic Crisis, UK
Britain’s new Finance Minister, Rachel Reeves, has unveiled substantial spending cuts aimed at correcting what she described as unsustainable government finances inherited from the previous Conservative administration. The measures, totaling billions of pounds, are part of a broader strategy to address a projected overspending of 21.9 billion pounds this year. Reeves announced an immediate 5.5 billion pounds in cuts, with further reductions of 8.1 billion pounds slated for the upcoming fiscal year.
In her address to Parliament, Reeves emphasized the need for tough decisions to rein in public spending, citing the risk posed to economic stability if unchecked. The move follows a recent election victory by the Labour Party, which assumed leadership of the world’s sixth-largest economy amid challenges such as low growth and soaring public debt.
Among the key initiatives announced by Reeves is a significant increase in pay for public-sector workers, aligning with recommendations that had been overlooked by the previous government. Additional cuts will target infrastructure projects, healthcare, and social benefits, with a goal of achieving budget savings across various government departments.
While the Finance Minister pledged not to raise major taxes, observers warn of potential future tax hikes to address long-term fiscal imbalances. The government’s commitment to implementing new fiscal rules and adhering to campaign promises underscores the challenges facing the Labour administration in navigating the country’s complex financial landscape.
Junior Doctors in England Accept 22.3% Pay Rise Deal, UK
LONDON – Months of strikes by junior doctors in England’s National Health Service could be coming to an end after the union representing them recommended they accept a new 22.3% total pay uplift over two years. The British Medical Association (BMA), which represents around 50,000 junior doctors, announced the new pay offer in collaboration with the new Labour government on Monday. Junior doctors have been advocating for a 35% pay increase to address the impact of inflation over the years. The strikes, including the longest one in NHS history in January, have brought attention to the challenges faced by healthcare professionals. Despite the offer falling short of their initial demands, the BMA’s junior doctors committee co-chairs acknowledged progress but noted that there is still a gap to bridge. The new proposal includes a 4.05% pay rise for 2023/24, adding to the previously granted 8.8%, with further increases planned for 2024/25, along with a 1,000 pound ($1,285) consolidated payment. The strikes have significantly impacted the NHS, causing thousands of cancellations and exacerbating an already overwhelming backlog of patients awaiting treatment. The government has emphasized the importance of a fair compromise to address the concerns of junior doctors and ensure the sustainability of the healthcare system.
US to Provide Ukraine with $200M Military Aid Package Including Air Defense Systems and Anti-Tank Missiles
US Allocates US$200 Million of Military Aid for Ukraine
John Kirby, White House National Security Communications Advisor, announced at a briefing on 29 July that the US will be providing Ukraine with an additional military aid package valued at US$200 million. The package includes air defense systems, artillery ammunition for HIMARS multiple-launch rocket systems, mortar ammunition, and anti-tank missiles Javelin. Kirby mentioned that the armament will be transferred directly from the US army’s storages. Additionally, the Pentagon will supply Ukraine with air defense means, weapons for long-range strikes, and anti-tank armament through the Ukraine Security Assistance Initiative (USAI).
IMF Chief Lauds Morocco’s Economic and Cultural Progress Under King Mohammed VI
Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has lauded Morocco for its remarkable economic and social advancements under the leadership of King Mohammed VI.
Her remarks came on the occasion of the Throne Day anniversary, a national celebration marking the accession of the king.
Georgieva highlighted the transformative journey of the Moroccan economy since King Mohammed VI ascended to the throne.
She noted that the nation has developed into a modern and highly competitive economy, characterized by steady growth and significant improvements in the living standards of its citizens.
According to Georgieva, Morocco’s progress is a testament to the effective policies and strategic vision implemented by the king.
I commend the significant progress that Morocco has achieved under the leadership of His Majesty King Mohammed VI, Georgieva stated. The Moroccan economy is not only modern but also highly competitive, demonstrating continuous growth and tangible improvements in the quality of life for the Moroccan people.
The IMF chief’s praise extends beyond economic metrics. Georgieva expressed her admiration for Morocco’s cultural richness and its developmental strides, which she witnessed firsthand during the 2023 Annual Meetings of the World Bank and the International Monetary Fund held in Marrakesh.
I was delighted to experience the remarkable blend of Morocco’s rich history and rapid development, she said. The warmth of the Moroccan people and the leadership of His Majesty the King left a lasting impression on me.
Georgieva also emphasized the robust partnership between the IMF and Morocco, reflecting the mutual respect and cooperation that have defined their relationship. She conveyed her wishes for continued happiness and prosperity for King Mohammed VI and the Moroccan people.
On this special occasion, I extend my heartfelt wishes to His Majesty the King and the Moroccan people for sustained happiness and prosperity, Georgieva added.
The Throne Day celebration is a landmark event in Morocco. It commemorates the day King Mohammed VI ascended to the throne on July 30, 1999.
13 Top Sports Startups to Watch in 2022: A Breakthrough List from Leading Investors
Thirteen sports startups poised to shake up the industry, according to VCs and other top investors.
Companies in the sports industry are facing increased competition, with startups vying for attention from investors. Venture capital firms and other top investors in sports have nominated a diverse range of early-stage companies, offering innovative solutions in areas such as running clubs, responsible gaming tools for sports betting, and a forthcoming women’s basketball league. Some startups are not conventional sports companies but have developed technology that could revolutionize the sector. Past featured startups such as Dabble, Outlier, Sportrade, and Underdog were excluded from the list to maintain a fresh perspective. Here are the 13 promising sports startups recommended by industry experts, listed in alphabetical order.
McDonald’s Admits Food Pricing Issue, Sees Falling Sales Spiral, US
McDonald’s just admitted that its food is too expensive, contributing to falling sales at the fast-food giant.
McDonald’s CEO Chris Kempczinski told investors on Monday that external pressures had affected its business, like a wider slowdown of the quick service restaurant sector and the war in the Middle East.
But there were also factors within our control that contributed to our underperformance, most notably our value execution, he said.
Global comparable sales decreased 1% year-over-year in the quarter, including a 0.7% drop in the US. Systemwide sales also fell 1%.
Kempczinski said that McDonald’s had put prices up in recent years in response to high inflation, which disrupted long-running value programs and led consumers to reconsider their buying habits. McDonald’s leadership for value in the fast-food sector was shrinking, Kempczinski said, citing customer surveys.
McDonald’s has been warning about lower-income consumers struggling for months — and it’s getting worse. Pressures on consumers have deepened and broadened over 2024 so far, Kempczinski said.
Customers are looking for more deals and either buying fewer items per order or opting for cheaper items, Kempczinski said. He said that some consumers were choosing to eat at home more often because food inflation has been much higher at restaurants than at grocery stores.
I think it’s not even so much about consumers moving from us to others, it’s about consumers in that low-income category and I think families, which are obviously two big cohorts of our consumer base across most of our markets, just eating out less frequently than they have been previously, McDonald’s CFO Ian Borden said.
Earlier this month McDonald’s launched a temporary national $5 combo deal in the US, which executives told investors on Monday had performed better than expectations and was being expanded into August at the vast majority of its restaurants. Executives also spoke to the success of some value deals in Germany and the UK.
We are resolved to reignite share growth in all our major markets regardless of the prevailing market conditions, Kempczinski said. This won’t happen overnight, but it will happen.
In earnings releases in April and May, a number of chains, including McDonald’s, reported poor growth in same-restaurant year-over-year sales. Starbucks, KFC, and Pizza Hut reported a sales decline.
McDonald’s execs didn’t sound optimistic about future consumer spending in the fast-food industry.
We expect customers will continue to feel the pinch of the economy and a higher cost of living for at least the next several quarters in this very competitive landscape, Joe Erlinger, president of McDonald’s US, said.
Consumer sentiment in most of McDonald’s major markets remains low, Borden added.
Multiple restaurant chains are reporting earnings this week and next.
Moroccan Surfer Ramzi Boukhiam Advances to Round 3 at Paris 2024 Olympics, Morocco
Moroccan surfer Ramzi Boukhiam has qualified for the third round of the surfing event at the Paris 2024 Olympic Games. The competition occurred late Sunday night at the renowned Teahupo’o break in Tahiti.
Boukhiam failed to qualify directly for the third round (round of 16) of the Olympics last Saturday. With a score of 9.76 points, Boukhiam finished behind Brazilian João Chianca, who scored 10.07 points.
However, in Sunday’s repechage round, Boukhiam edged out El Salvador’s Bryan Perez in a highly competitive heat. Both surfers showcased great skills, with Boukhiam securing a total score of 14.60 against Perez’s 12.60 points.
The heat was marked by a close contest, with both surfers exchanging high-quality rides and maintaining a close score throughout the 30-minute session.
As the final moments of the heat approached, the surfers delivered their best performances, catching their most impressive waves just before the time was up.
The judges’ decision was eagerly awaited, and after a brief suspense, Boukhiam’s higher score was confirmed, thanks in part to his standout wave that earned him a 7.60 in contrast to Perez’s 6.43.
The qualification not only represents a splendid feat for Boukhiam but also maintains Morocco’s presence at the Paris 2024 Games, where the country is represented by a delegation of 60 athletes across 19 sports disciplines.
Venezuela Election Results: Maduro Claims Victory Amid Fraud Allegations
President Nicolás Maduro has claimed victory in Venezuela’s presidential election, according to partial results announced by the National Electoral Council (CNE). Elvis Amoroso, the head of the CNE and a close ally of Maduro, reported that with 80% of the ballots counted, Maduro had secured 51% of the vote, while his main challenger, Edmundo González, garnered 44%.
However, the Venezuelan opposition has rejected the CNE’s announcement as fraudulent and vowed to contest the outcome. The opposition asserted that their candidate, González, actually won with 70% of the votes, based on their own tallies, exit polls, and quick counts, which they claim show González leading Maduro by 40 percentage points.
The opposition’s unity behind González was a strategic move to unseat Maduro, who has been in power for 11 years. Pre-election opinion polls had suggested a significant lead for González, predicting a decisive defeat for the incumbent president.
The election results hold significant implications not only for Venezuela’s 29.4 million citizens but also for international relations and migration patterns. Over the past decade, 7.8 million Venezuelans have fled the country due to economic and political turmoil under Maduro’s administration. Recent polls indicate that this exodus could accelerate, with one survey suggesting that a third of the population might consider emigrating.
The outcome of Venezuela’s election is also closely watched by the United States and other Latin American countries affected by the influx of Venezuelan migrants. Venezuela’s vast oil reserves make its political direction crucial for international energy markets. Maduro attributes the country’s economic hardships to US sanctions and has strengthened ties with China, Iran, and Russia, all of which have contentious relationships with the US.
A shift in government could lead to Venezuela distancing itself from these countries and its ally Cuba, while Maduro’s continued rule would likely deepen these alliances. Many Venezuelans, weary of 25 years of socialist PSUV rule, first under Hugo Chávez and then Maduro, are clamoring for change. Voters in Petare, one of Latin America’s largest slums, expressed a strong desire for a new government, citing the current administration’s failures.
Concerns about election fraud were prevalent, with fears that Maduro’s administration might manipulate the results to stay in power, as was alleged in the 2018 election. Despite these worries, the opposition believed their significant lead would prevent any fraudulent victory by Maduro.
