Turkish Foreign Minister Hakan Fidan has said that Turkey has issued a high-level call for normalisation with Syria, highlighting its utmost importance, and expressed hope for a positive response from Syria.

Addressing a press conference alongside visiting Saudi Foreign Minister Faisal bin Farhan Al Saud in Istanbul on Sunday, Fidan expressed hope that the Syrian government would acknowledge Turkey’s calls for peace.

“The current atmosphere in the region prioritises peace and stability. There is a strong impetus driving us to pursue peace actively,” he said, highlighting the Turkish President’s crucial high-level call for peace.

“This appeal holds great significance, and I hope it resonates and receives a positive response,” he emphasised.

Previously, Turkish President Recep Tayyip Erdogan emphasised that there is no reason not to restore relations with Syria, stating, “Just as we previously collaborated in advancing our ties with Syria, we will proceed together similarly.”

After the outbreak of the Syrian civil war in March 2011, Turkey’s relations with Syria have become significantly strained. Ankara has aligned itself with several opposition groups against the Syrian government.

Since 2015, Turkey has launched several military operations in Syria, accusing the Syrian government of supporting the outlawed Kurdistan Workers’ Party, a Kurdish rebel group designated as a terrorist organisation by Turkey.

The Turkish leader on Saturday announced the imminent conclusion of Turkish forces’ operation against the Kurdish fighters in northern Iraq and Syria.

“In Syria, we will complete the missing links of the security belt along our southern border, based on Syria’s territorial integrity,” said Erdogan. AGENCIES

The US-British naval coalition has waged two airstrikes on the Hodeidah airport in the Yemeni Red Sea port city of Hodeidah, the media reported.

Al-Masirah TV did not provide further details, but residents said the explosions were powerful.

The coalition has not commented on the claim, Xinhua news agency reported.

The airport has been shut off since the Houthi group seized control of the city in 2014.

Since last November, the Houthis began to launch anti-ship ballistic missiles and drones targeting what they said were Israeli-linked ships transiting the Red Sea to show solidarity with Palestinians in the Gaza Strip.

Houthi leader Abdulmalik al-Houthi said in a televised speech last week that his group had targeted “a total of 166 ships linked to Israel, US, and Britain”.

In response, the US-British naval coalition stationed in the waters has since January conducted air raids and missile strikes against Houthi targets to deter the group, but this only led to an expansion of Houthi attacks to include US and British commercial and military ships. AGENCIES

Millions of Rwandan citizens cast their ballots Monday morning at more than 2,600 polling stations nationwide to elect their president and members of parliament.

Voting began at 7 a.m. local time and will conclude at 3 p.m. Approximately 9.5 million eligible voters are expected to exercise their civic duty, according to the National Election Commission (NEC), reports Xinhua news agency.

Rwandan voters arrived at their respective polling stations as early as 6 a.m., forming long queues before the official voting time of 7 a.m. Voters lined up calmly and in an orderly manner as polling staff oversaw the process to ensure a peaceful voting experience.

On Sunday, according to the NEC, Rwandans residing abroad cast their votes in 140 polling sites across 70 countries worldwide.

Three presidential candidates are vying for the presidency, incumbent President Paul Kagame of the ruling Rwanda Patriotic Front (RPF), Frank Habineza of the opposition Democratic Green Party of Rwanda, and Philippe Mpayimana, an independent candidate.

There are 589 candidates for the 80 seats in the Chamber of Deputies, the lower house of the bicameral national legislature of Rwanda, including representatives from political parties, special groups (youth, women, and people with disabilities), and one independent candidate, according to the NEC.

More than 100,000 Rwandans volunteered as polling staff, and over 1,100 local and foreign observers have been accredited for the elections, according to the NEC.

The foreign observers represent various regional and international organisations, including the African Union, European Union, East African Community (EAC), Commonwealth, International Conference on the Great Lakes Region (ICGLR), and Economic Community of Central African States (ECCAS). AGENCIES

 Yemen’s armed Houthi group has claimed responsibility for missile and drone attacks against an Israeli ship in the Gulf of Aden and the Israeli city of Eilat.

“The armed forces targeted the Israeli ship, MSC UNIFIC, in the Gulf of Aden,” Houthi military spokesman Yahya Sarea said on Sunday in a televised statement aired by the Houthi-run al-Masirah TV.

The group also attacked “military targets” of the Israeli city of Eilat with drones, he added as reported by Xinhua news agency.

The spokesman reiterated that the group will continue attacking Israeli targets until the war on Gaza stops.

Meanwhile, the US Central Command said its forces had destroyed two drones and one unmanned boat in the Red Sea in the past 24 hours, according to a statement on social media platform X.

Earlier on Sunday, the Houthi television reported that the US-British naval coalition conducted two airstrikes against the Hodeidah airport in the Red Sea port city of Hodeidah.

Last November, the Houthis began to launch anti-ship ballistic missiles and drones targeting what they said were Israeli-linked ships transiting the Red Sea to show solidarity with Palestinians in the Gaza Strip.

Houthi leader Abdulmalik al-Houthi said in a televised speech last week that his group had targeted “a total of 166 ships linked to Israel, US, and Britain”.

In response, the US-British naval coalition stationed in the waters has since January conducted air raids and missile strikes against Houthi targets to deter the group, but this only led to an expansion of Houthi attacks to include US and British commercial and military ships. AGENCIES

 The funding momentum continued in the Indian startup ecosystem this week as 22 startups raised nearly $116.26 million, led by four growth-stage transactions.

Last week, the domestic startup ecosystem raised nearly $176 million in funding across 16 deals.

This week, four startups raised around $80 million in funding among the growth-stage deals.

Wealth management platform Dezerv raised $32 million in a funding round led by Premji Invest. The round also saw participation from existing investors Matrix Partners India (aka Z47), Accel and Elevation Capital.

Other startups which raised funds are e-commerce brand Goat Brand Labs ($21 million) and B2B e-commerce firm Infra.Market ($18 million).

Sixteen early-stage startups also secured funding worth $36.26 million.

Meanwhile, fintech company Partior announced the first close of over $60 million Series B round led by the venture capital and growth investing firm Peak XV Partners.

The round was also supported by Valor Capital Group and Jump Trading Group as new investors, and JP Morgan, Standard Chartered and Temasek as existing shareholders.

Last week, Maruti Suzuki India also announced it is expanding the accelerator programme to include global startups, as it aims to further support the government’s ‘Make in India’ and ‘Startup India’ initiatives.

Maruti Suzuki has so far screened over 2,000 startups over eight cohorts and engaged with 56 startups. AGENCIES

 A 13-member delegation from Bangladesh completed a four-day tour of the Syama Prasad Mookerjee Port (SMP) in Kolkata on Friday.

The delegation, led by S M Mostafa Kamal, Joint Secretary, Ministry of Shipping, Bangladesh, was here to explore the possibility of transhipment of EXIM cargo from and to their country through ports located along the eastern coast of India.

SMP Kolkata has already held successful trials for the movement of cargo – both containers and dry bulk – to Bangladesh and northeast of the country through the Indo-Bangladesh Protocol (IBP) route along the Ganga-Bhagirathi-Hugli and Brahmaputra Rivers.

“The delegation visited the ports of Haldia and Kolkata, in line with agreed minutes of the India-Bangladesh Shipping Secretaries Level Talks (SSLT) held in Dhaka in December 2023,” an official said.

He said that the delegation also met Rathendra Raman, Chairperson, SMP, Kolkata, and learnt of the present infrastructure at the Kolkata Dock System (KDS) and Haldia Dock Complex (HDC), to handle containerised cargo shipped from Bangladesh for third-country export.

“Plans for future infrastructural development of the port facilities were also highlighted,” a senior SMP Kolkata official said.

He said that the discussions were held on the various trade facility advantages which exporters from Bangladesh would enjoy if they chose to tranship cargo through SMP Kolkata.

“Not only are containers available easily, but the transit time is less when compared to other major ports along India’s eastern seaboard. Allocation of dedicated vessels to ply between Bangladesh and India and provision for onward and return cargo to and from SMP Kolkata for optimisation of operational cost were some of the points that were discussed,” the official said.

He added that the Bangladeshi delegation was briefed about the direct transit facility, planned vessel movement between to and from Chittagong and Yangon, the introduction of night navigation facilities, presence of extended allied service facilities at SMP Kolkata in terms of CFS, strong presence of leading shipping lines, integrated road and rail transportation network and established custom facilities.

“A cost comparative analysis was done to establish that shipment of export cargo from Chittagong to SMP Kolkata for shipment to other countries will be far more economical instead of shipment through trans-shipment ports like Colombo,” he said.

He said that the two-way plying of the vessels would further reduce the overall cost of transportation enabling a win-win trade proposition for both countries.

The IBP route covers nearly all ports of call in Bangladesh, including Mongla, Narayanganj, Ashugunj. It was discussed how barges carrying fly-ash from India to Bangladesh along the IBP route could return with loaded containers.

Joint Secretary Mostafa Kamal assured that meetings would be convened in Bangladesh with all stakeholders before a report is prepared and submitted to the country’s shipping ministry.

“The contents of the report will also be shared with India through diplomatic channels,” he said. AGENCIES

 The Ministry of Ports, Shipping, and Waterways will convene the State Maritime & Waterways Transport Committees’ meeting on Tuesday to hold discussions for the comprehensive development of maritime and waterways transport across India and expanding its reach to include the remaining states.

The meeting to be held via video conferencing will be chaired by T. K. Ramachandran, Secretary, Ministry of Ports, Shipping, and Waterways, according to an official statement issued on Saturday.

“The meeting will focus on the preparation of state-specific Maritime and Waterways Transport Master Plans, formulation of Maritime Sector Policies, Green Initiatives, Waterways Development, Cruise Tourism, Urban Water Transportation, and the Development of Lighthouses,” the statement added.

Recognising the need for a unified approach to manage and integrate the waterways transportation sector, the Ministry has established State Maritime & Waterways Transport Committees (SMWTCs) to coordinate various initiatives and schemes within each state.

These committees will be pivotal in consolidating efforts and providing focused leadership in the maritime and waterways sector. Each state committee is headed by the Chief Secretary or Additional Chief Secretary and includes representatives from major ports, maritime boards, state PWD, Inland Waterways, Department of Tourism, Department of Fisheries, Railways, NHAI and Customs.

Currently, SMWTCs have been constituted in 13 states, including Andhra Pradesh, Mizoram, Himachal Pradesh, Nagaland, Puducherry, Rajasthan, Bihar, Assam, Goa, Kerala, Uttar Pradesh, Maharashtra, and Lakshadweep, with plans to establish them in all 30 coastal and waterways states and UTs of India.

The agenda for the meeting includes reviewing the progress made by already constituted SMWTCs, discussing the issues faced by different states along with discussion on implementation of Sagarmala Programme, development of National Maritime Heritage Complex (NMHC) at Lothal, opportunities in Ro-Ro/Ro-Pax/Ferry/Urban Water Transportation, Sagarmala Shipbuilding Clusters, Harit Nauka (Green Transition) Scheme for Inland Waterways, Cargo Promotion Scheme, MoUs with States for Coastal and River Cruise Tourism and support for State Inland Waterway Transport.

Chief Secretaries and Additional Chief Secretaries, as Chairpersons of SMWTCs, will present progress in their states, SMWTC initiatives, state-specific issues, and required support from the Ministry, aiming to review progress, address issues, and foster collaborative solutions to enhance maritime and waterways transport in India. AGENCIES

 The country’s nets direct tax collection posted a robust 19.5 per cent growth to Rs 5.74 lakh as on till July 11 of the current financial year (2024-25) compared to the same period of the previous year, according to the latest figures compiled by the Income Tax Department

Net corporate tax collections from April 1 to July 11 increased 12.5 per cent over the same period last year to Rs 2.1 lakh crore, while personal income tax including securities transaction tax rose 24 per cent to Rs 3.64 lakh crore.

Gross direct tax collections, before refunds, surged 23.2 per cent compared to the same period last to Rs 6.45 lakh, the figures showed.

There has also been a 64.5 per cent increase in direct tax refunds during the current financial year at Rs 70,902 crore between April 1 and July 11.

The buoyancy in tax collections will help the government control the fiscal deficit as it gears up to present the full budget for 2024-15 on July 3.

The hefty Rs 2.11 lakh crore dividend from the RBI and the robust direct tax and GST collections will give the Finance Minister headroom for pushing ahead with policies aimed at accelerating growth and implementing social welfare schemes aimed at uplifting the poor.

The fiscal deficit has been reduced from more than 9 per cent of GDP in 2020-21 to the targeted level of 5.1 per cent for 2024-25. This has strengthened the macroeconomic fundamentals of the economy. S&P Global Rating raised India’s sovereign rating outlook to ‘positive’ from ‘stable’, citing the country’s improving finances and strong economic growth.

After having presented an interim budget ahead of the Lok Sabha polls, the Finance Minister will now present the full budget for 2024-25 that ensures the economy continues on the high growth trajectory and creates more jobs during the third term of the Modi government.

Sitharaman is expected to increase the exemption limit for income tax to give some relief to the middle class. This would place more disposable income in the hands of consumers and lead to an increase in demand to fuel economic growth. AGENCIES

 The food prices are projected to cool off in the coming months and the inflation trajectory to soften and stabilise between 4 and 4.5 per cent, industry experts have said.

India’s consumer price inflation (CPI) edged up to 5.08 per cent in June this year compared to the same period last year.

According to industry experts, although June rains were deficient, it is not a major concern because July and August rains are what matter for Kharif.

“We expect the progress on monsoons and pick up in sowing to improve agricultural output and cool off food inflation in the coming months,” said Dharmakirti Joshi, Chief Economist, Crisil.

Non-food inflation eased for the 17th straight month, sliding to a record low of 2.3 per cent.

“Net-net, we expect a decline in food inflation in the coming months to drag down headline inflation to an average of 4.5 per cent. That said, no rate cuts are expected in the forthcoming policy as RBI pursues a target of 4 per cent durable inflation,” Joshi explained.

Inflation had eased to a 12-month low of 4.75 per cent in May after having come down to 4.83 per cent in April, which was an 11-month low.

The June figures mark a break from the declining trend that had set in during recent months.

According to Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry (PHDCCI), CPI inflation for the month of June is majorly stoked by the food and beverages inflation rising from 7.9 per cent in May to 8.4 per cent in June.

“Going ahead, we expect the food prices to stabilise in the coming months and inflation trajectory also to soften and stabilise between 4 and 4.5 per cent,” Agrawal said.

Aditi Nayar, Chief Economist at ICRA, said barring food and beverages, inflation across all the other sub-groups remained below the 4 per cent mark in June.

“With nearly 50 per cent of kharif sowing usually taking place in the month of July, adequate rainfall across regions will be critical over the next few weeks to accelerate the pace of sowing,” she noted.

ICRA estimates the headline CPI inflation to soften to 2.5-3 per cent in July entirely on account of the favourable base effect (+7.4 per cent in July 2023), which will partly absorb the impact of the sequential surge in prices of vegetables. AGENCIES

 Human-centric mobile artificial intelligence (AI) is the future and open collaboration among the industry and a distinct approach to hybrid AI is the only way to achieve the best possible mobile AI experience for users, experts said here on Saturday.

It’s not enough just to innovate for good but it is equally essential to do so responsibly, they added during an AI session.

“Within months, we have democratised Galaxy AI, extending access to more models and form factors. It’s a feat only possible through close collaboration with our industry partners and our distinct approach to hybrid AI to bring our users the most practical, reliable and versatile mobile AI experience possible,” said Won-Joon Choi, EVP and Head of Mobile R&D Office, Mobile eXperience Business, Samsung.

According to Dr Chris Brauer, Goldsmiths, University of London, it is the first stage of exploring and understanding the relationship between AI and indicators we know correlate to a person’s life quality.

“The key indicators we looked at were creativity, productivity, physical health and social relationships. What we discovered gives a very clear indication of the immense potential that lies ahead for AI users,” said Brauer at the session.

Jenny Blackburn, VP of User Experience for Gemini Experiences and Google Assistant, Google, said that without cutting-edge mobile devices from partners like Samsung, “capabilities of our world-class platforms would be underutilised”.

The industry experts also deliberated upon to create responsible AI experiences.

“AI Policy Observatory will ensure informed decisions and help policymakers to keep up with developments. We work directly with leaders in government and major tech companies alike,” said Lucia Russo, economist and policy analyst in AI unit, OECD Digital Economy Policy Division.

The majority of people are enthusiastic about mobile AI’s potential, with many reporting that they will embrace mobile AI even more as the technology advances in the future.

“As the era of AI rapidly evolves, a group of frequent mobile AI users is emerging, and there’s indication of a relationship between frequent AI use and quality of life,” according to a recent survey.

Frequent mobile AI users are about 1.4 times more likely to rate their quality of life as good to very good compared to rare AI users. AGENCIES