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WK Holdings to invest $100 million in Telangana startups

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WK Holdings to invest $100 million in Telangana startups

Hyderabad, Aug 6 (IANS) Walsh Karra Holdings, a US-based investment firm, will invest $100 in start-ups in Telangana over the next five years.

This was announced by the firm while signing a Memorandum of Understanding (MoU) with WE Hub, India’s first state-led nodal organization for women’s entrepreneurship.

Phani Karra and Greg Walsh of Walsh Karra Holdings and Sita Pallacholla, Chief Executive Officer of WE Hub, signed the MoU guaranteeing an investment of $5 million in WE Hub over the next five years.

The MoU was signed in New York, in the presence of Chief Minister A. Revanth Reddy and Minister of Industry and Information Technology D. Sridhar Babu, during their official visit to the US to explore new partnerships and investments for the state.

According to the Chief Minister’s Office (CMO) here, Revanth Reddy congratulated the entire team for this success.

“Women entrepreneurship will liberate our society and unleash the truest potential of Telangana. No society can achieve its fullest potential without enabling and empowering women,” the Chief Minister said.

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“With this initiative, over the next five years, WKH will also invest $100 million in start-ups incubating in the Telangana ecosystem, both WE Hub incubated start-ups and beyond, thus being a reliable partner in the growth story of both urban and rural Telangana,” said Greg Walsh.

Walsh Karra Holdings (WKH) co-founded by seasoned global entrepreneurs and investors Greg Walsh and Phani Karra, operates out of the US and Singapore. It is uniquely positioned to find and develop new investment opportunities to drive the next century’s sustainable economy.

It supports early and growth-stage companies that demonstrate their commitment to solutions that model innovation, sustainability, and profitability. By investing in these solutions, WKH aims to not only accelerate their scalability but also contribute to building a more sustainable future.

“I studied at Osmania University and started my career at Hyderabad, which propelled me to succeed on the international stage. The gratitude I feel to India and Hyderabad made me look for ways to give back. With this partnership, we have found a reliable agency to ensure our investments make a positive impact in India,” said Phani Karra.

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According to the CMO, in keeping with the Chief Minister’s vision to enable more and more women to become drivers of economic empowerment of the nation, WE Hub will be implementing targeted programmes and world-class entrepreneurship, incubation, and acceleration programmes in the next five years.

This investment by WKH will provide the much-needed timely impetus, catalysing the growth of WE Hub alongside the growth of women entrepreneurs.

Sita Pallacholla said this investment would be used to design and deliver a flagship programme of international standards to women entrepreneurs in India.

Meanwhile, the Chief Minister, Minister Sridhar Babu, and other members of the delegation visited the New York Stock Exchange.

“It was rather fortuitous for us to start our trip to the USA to bring investments for Telangana with a visit to the historic New York Stock Exchange – an institution that is perhaps the heart of the American and global economy. An icon that stands testimony to the history of wealth creators, who have shaped our world,” read a post from the CMO handle on X.

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“It was wonderful to explore the building, learn about its achievements, its eloquent statement of greatness, witnessing economic history being written for so long. My colleague D. Sridhar Babu and several team members have returned with a greater resolve to scripting and replicating an equally amazing story back home,” it added.

–IANS

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National

Defence Ministry: Year 2025 will be year of reforms

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rajnath singh with armed forces chief

On Wednesday, the Defence Ministry announced that 2025 will be designated as the “Year of Reforms,” with a primary focus on establishing integrated theatre commands to enhance collaboration among the three branches of the military.

These reforms are aimed at transforming the armed forces into a technologically advanced, combat-ready force capable of executing multi-domain integrated operations, the ministry stated.

The initiative will emphasize emerging domains such as cyber and space, alongside cutting-edge technologies like artificial intelligence, machine learning, hypersonics, and robotics.

Defence Minister Rajnath Singh described the “Year of Reforms” as a pivotal milestone in the modernization of the armed forces.

“It will set the stage for significant advancements in the nation’s defense capabilities, ensuring the security and sovereignty of India in the face of 21st-century challenges,” he said.

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A 3.2 magnitude tremor struck Gujarat’s Kutch district on Wednesday morning

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A 3.2 magnitude tremor struck Gujarat’s Kutch district on Wednesday morning, according to the Institute of Seismological Research (ISR).

The district administration reported no casualties or property damage following the quake.

The tremor occurred at 10:24 am, with its epicenter located 23 kilometers north-northeast (NNE) of Bhachau, as per the Gandhinagar-based ISR.

Last month, the region experienced four seismic events exceeding a magnitude of 3, including a 3.2 magnitude tremor just three days ago, with its epicenter also near Bhachau.

Earlier tremors in the area included a 3.7 magnitude earthquake on December 23 and a 3.2 magnitude event on December 7, according to ISR reports.

Kutch was also jolted by a 4.0 magnitude earthquake on November 18, 2024. On November 15, a 4.2 magnitude quake hit Patan in north Gujarat, based on ISR data.

Gujarat is considered a high-risk earthquake zone, having experienced nine major earthquakes over the past 200 years, according to the Gujarat State Disaster Management Authority (GSDMA). The 2001 earthquake in Kutch, which occurred on January 26, was the third-largest and second-most destructive in India in the last two centuries, according to the GSDMA.

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Diljit Dosanjh faces legal action over concert songs

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Singer and actor Diljit Dosanjh’s much-anticipated New Year’s Eve concert in Ludhiana faced legal hurdles after a complaint was filed by Punditrao Dharenavar, an assistant professor from Chandigarh.

Following the complaint, the Deputy Director of the Women and Child Department, Government of Punjab, issued a formal notice to Ludhiana’s District Commissioner, urging them to prohibit Dosanjh from performing specific songs during his live show on December 31, 2024.

The notice specifically targets songs accused of promoting alcohol, including Patiala Peg, 5 Tara Theke, and Case (Jeeb Vicho Feem Labbiya), even if the lyrics are slightly modified. The complaint points to previous warnings issued to Dosanjh by various commissions advising against performing these controversial tracks.

Despite these warnings, the singer allegedly continues to perform the songs with minor alterations. Dharenavar raised serious concerns about the influence of such music on young audiences, especially when minors are present at live events.

Adding to the controversy, Dharenavar referenced a 2019 Punjab and Haryana High Court ruling, which directed law enforcement to ensure that songs promoting alcohol, drugs, or violence are not played at public events, including concerts. This ruling underscores the legal basis for the complaint and has further intensified the scrutiny surrounding the event.

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UP Minister’s convoy overturns, 5 person injured

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UP Minister’s convoy overturns, 5 person injured

Five people sustained injuries when a vehicle in the convoy of Uttar Pradesh Minister and Nishad Party chief Sanjay Nishad overturned into a ditch near Januan village in the Khejuri Police Station area of Ballia district late last night.

Sanjay Nishad shared details of the incident, stating that the accident injured five party workers, including four women.

“I was traveling with the convoy to participate in the Constitutional Rights Yatra organized by the party on Tuesday night. Near Januan village in the Khejuri area, one of the vehicles following the convoy lost control while trying to avoid an animal and overturned into a ditch,” Nishad explained.

The injured individuals have been identified as Rakesh Nishad, Ramrati, Usha, Geeta, and Iravati Nishad.

Senior police and administrative officials quickly arrived at the scene following the incident to oversee the situation.

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Suchir Balaji’s mother alleges Murder

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Suchir Balaji’s mother alleges Murder

The mother of Suchir Balaji, a 26-year-old former OpenAI researcher found dead after accusing the company of copyright violations, has alleged that her son was “murdered” and called for a Federal Bureau of Investigation (FBI) probe.

Poornima Rao, Suchir’s mother, claimed her son’s death was a “cold-blooded murder” that authorities wrongly ruled as suicide. She further disclosed that a private autopsy report conflicted with the findings of the initial police investigation.

Rao alleged that her son’s apartment had been “ransacked” and cited evidence of a struggle in the bathroom, including bloodstains that suggested he had been assaulted.

“We hired a private investigator and conducted a second autopsy to uncover the truth. The private autopsy does not confirm the cause of death stated by the police. Suchir’s apartment was ransacked, there were signs of a struggle in the bathroom, and it appears he was hit based on blood spots. This is a cold-blooded murder being misclassified as a suicide. Lobbying in San Francisco won’t deter us from seeking justice. We demand an FBI investigation,” Rao wrote on X.

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Elon Musk reacted to Rao’s post, commenting, “This doesn’t seem like a suicide.”

Balaji was discovered dead in his San Francisco apartment months after accusing OpenAI of violating copyright laws during the development of ChatGPT, as reported by Fox News. Despite these claims, the San Francisco Police Department found no evidence of foul play and ruled the death a suicide.

On October 24, shortly before his death, Balaji voiced doubts about the “fair use” defense in generative artificial intelligence. “I recently participated in a NYT story about fair use and generative AI, and why I’m skeptical ‘fair use’ would be a plausible defense for a lot of generative AI products,” he wrote on X.

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