Binance USD Stablecoin to Be Delisted From Coinbase, Trading to Halt Starting March 13: All Details

Coinbase, one of the world's largest crypto exchanges, has decided to delist the Binance USD (BUSD) stablecoin starting March 13. The decision comes in the backdrop of the BUSD token facing legal challenges in the US. Paxos, the stablecoin issuer that wholly owned and managed the Binance USD stablecoin is facing a lawsuit from the Securities and Exchange Commission in the US. Paxos has been accused of issuing the BUSD token as an unregistered security, Paxos meanwhile, has denied the allegation.

“We've determined that BUSD does not currently meet our standards for trading support,” a Coinbase spokesperson reportedly said, not elaborating on the details.

Launched in 2019, the BUSD stablecoin built on the Ethereum blockchain, currently has a market valuation of over $10 billion (roughly Rs. 87,987 crore). As per CoinMarketCap, the market cap for BUSD dropped by three percent in the last 24 hours.

At the time of writing, each BUSD was trading at $1 (roughly Rs. 82), showed the crypto price tracker by Gadgets 360.

Coinbase claims on its website that its digital asset listings group has a vote to get any cryptocurrency listed or delisted.

Assets are regularly analysed on the basis of their legal status, technical security quotient as well as compliance with the laws, violations of which could get assets delisted from Coinbase.

We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent reviews, Coinbase will suspend trading for Binance USD (BUSD) on March 13, 2023, on or around 12pm ET.

— Coinbase Assets (@CoinbaseAssets) February 27, 2023

The decision will be executed across Coinbase's suite of services including Coinbase.com, Coinbase Pro, Coinbase Prime, as well as Coinbase Exchange.

Meanwhile, Coinbase will continue to allow its users to access and withdraw their BUSD funds despite its decision to delist the token. Users, however, will not be able to trade the token on Coinbase after March 13.

BUSD issuer Paxos was served a notice by the New York State Department of Financial Services earlier in February. The financial authority has instructed Paxos to stop issuing BUSD tokens.

Soon after the news broke, Coinbase had noted that stablecoins are not considered as securities in the US.

This week the NYDFS ordered US-based Paxos to stop issuing US dollar-denominated stablecoin BUSD and the SEC issued a Wells notice to Paxos. We don't know what aspects of BUSD might be of interest to the SEC.
What we do know: stablecoins are not securities :thread:

— Coinbase (@coinbase) February 15, 2023

Pegged against a fiat currency like the US dollar or reserved assets like gold, stablecoins are crypto assets that latch their values to their underlaying assets.

This prevents stablecoins against fluctuations in the volatile crypto industry as compared to other assets.

Tether, USD Coin, and Ripple are among other popular stablecoins pegged against the US dollar just like the BUSD.

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After facing headwinds in India last year, Xiaomi is all set to take on the competition in 2023. What are the company's plans for its wide product portfolio and its Make in India commitment in the country? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

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Passenger Flying Business Class Shocked To Get ONE Banana For In-Flight Meal

The recent whirlwind of reports on disappointing airline foods has left us shocked. We were still grappling with the news of an Air India passenger finding insect in his meal, shortly after chef Sanjeev Kapoor condemned the airline for unappetising food, when this news popped up. A business class passenger was served just one banana in his in-flight meal. The chopsticks served along with the banana completed the look of the meal but does it even make sense to eat banana with chopsticks? 

The man named Kris Chari was travelling in an over 7-hours Japanese airline flight from Indonesia to Tokyo, Japan. He pre-ordered VGML (vegan) option from the pre-lunch snack menu but little did he know that it would consist of just a banana. 

(Also Read: Man Allegedly Finds Cockroach In Vistara Flight Meal; Airline Says, "It's Roasted Ginger")

Narrating the incident on Flyertalk forum, Kris Chari said, "Before takeoff today my flight attendant confirmed that I ordered VGML and that my breakfast was a banana, by which I mistakenly assumed she meant that breakfast included a banana. When she served the banana after takeoff I thought it was just an underwhelming appetizer, but it was in fact the entire meal service! It was cute of the crew to serve the banana with chopsticks, though!"

This is what Kris Chari was served when they decided to order the 'vegan breakfast'.

What's the worst in-flight meal you've ever been served? pic.twitter.com/RBwPJBiLPs

— Plant Based News (@PlantBasedNews) February 22, 2023

The non-vegan snack option in the airline menu consisted of seared tuna with a Moroccan-style eggplant salad, two kinds of cheese with orange salsa, paired with a baguette. Left with just a banana, Kris Chari made it a point to still enjoy his meal. "It was a really good banana-one of the best I've had recently-but it still seems more appropriate as a snack. Is catering out of CGK typically this underwhelming?" he questioned.

Kris Chari also informed that the lunch that was served later had barely seasoned spaghetti. "My meals on other JL flights (part of this itinerary) were also bad, but nothing was quite as insubstantial as this (banana)."

(Also Read: Woman Finds Stone In Air India In-Flight Meal, Shares Pics)

Funny or disappointing? What do you think of this vegan in-flight meal?
 

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China Foreign Minister To Attend G20 Meeting In India: Report

China today confirmed that its Foreign Minister Qin Gang will be participating in the Group of 20 (G20) Foreign Ministers' meeting in India, reported Reuters.

During a press briefing, China's Foreign Ministry spokesperson Mao Ning said, "The G20 should focus on prominent challenges in the global economy. China stands ready to work with all parties to ensure the G20 foreign ministers' meeting sends a positive signal on multilateralism."

The G20 Foreign Ministers Meeting (FMM) is scheduled to take place in physical format from March 1-2, 2023 in New Delhi under India's presidency.

Prime Minister Narendra Modi is expected to address the foreign ministers of the member countries of G20 and he will talk about India's growing influence globally.

The March 1-2 meeting of the G20 foreign ministers will be held days after a meeting of finance chiefs of the bloc in Bengaluru.

The New Delhi meeting will be attended by Russian Foreign Minister Sergey Lavrov, US Secretary of State Antony Blinken and UK Foreign Secretary James Cleverly. In all, representatives of 40 countries, including non-G20 members invited by India, and multilateral organisations will attend.

Mao also reacted to the White House setting a deadline for removing TikTok from federal devices.

"US is overstretching concept of national security, abusing state power to suppress foreign companies, we firmly oppose those wrong actions," she added.

The White House on Monday (local time) gave federal agencies 30 days to purge the Chinese-owned app TikTok from all government-issued devices.

The directive comes after congressional legislation passed in December banned the popular video-sharing app from federal government devices and systems, amid concerns TikTok's parent company ByteDance could allow the Chinese Communist Party access to user data, reported New York Post (NYP).

Several government agencies, including the White House, Department of Defense, Department of Homeland Security, and the State Department, had preemptively banned TikTok from government devices before Congress's December vote.

Meanwhile, ByteDance-owned TikTok has said the concerns are fueled by misinformation and has denied using the app to spy on Americans.

ByteDance denied that it would share user data with the CCP, calling the concerns "misinformation," reported NYP.

The US move comes after Canadian government blocked the short-form video app TikTok from official electronic devices.

According to CNN, the ban is set to take effect on Tuesday. Government-issued devices will be blocked from downloading TikTok, and existing installations of the app will be removed, according to a statement by the Treasury Board of Canada Secretariat.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Technology Will Help India Become Developed Nation by 2047; 5G, AI Will Transform Sectors: PM Modi

Technology will help India achieve the target of becoming a developed nation by 2047, Prime Minister Narendra Modi said on Tuesday, as he outlined the massive and modern digital infrastructure being created to ensure that benefits of digital revolution reach all citizens.

Addressing a post-Budget webinar on 'Unleashing the Potential: Ease of Living Using Technology', Modi said the government wants to reduce the cost of compliance of small businesses, and asked the industry to formulate a list of compliances that can be pruned.

"We want to reduce the compliance cost of small businesses. Can you (industry) formulate a list of unnecessary compliances that can be pruned. We have finished 40,000 compliances," Modi said.

India is creating a modern digital infrastructure, and ensuring that benefits of digital revolution reach everyone, he noted.

Technology is being used to make tax system faceless to address problems faced by taxpayers.

"We used technology to make the tax system faceless, and to address problems faced by taxpayers," he said adding technology is being leveraged to usher in a qualitative difference in the lives of Indian citizens.

He said technologies like 5G and AI (Artificial Intelligence) are leading conversations now and poised to transform areas like medicine, education, agriculture, and many other sectors.

The prime minister exhorted stakeholders to identify 10 problem areas facing the common man which can be solved using AI.

Technology formed the base of One Nation One Ration, he said adding that JAM (Jan Dhan Yojana, Aadhaar, and Mobile number) trinity helped in giving benefits to the poor.

He said 21st century is technology-driven, and one can't restrict it to just digital, internet technology.

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5G is here. Should you buy a 4G phone? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

 

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"We Did Invite Jr NTR": Hollywood Critics Association On His Absence

SS Rajamouli's RRR  had four blockbuster wins at the recently held Hollywood Critics Association Awards in Los Angeles, where the film won 4 big awards, including Best International Film. While the film's director SS Rajamouli and one of the lead actors Ram Charan went on stage to collect the award, Jr NTR was MIA at the award ceremony. On Tuesday morning, The Hollywood Critics Association issued a statement clarifying that the actor was invited. However, he was shooting for a project in India, which is why he skipped the awards.

Hollywood Critics Association's statement read: "Dear RRR fans and supporters, We did invite N T Rama Rao Jr. to attend the HCA Film Awards but he is shooting a new film in India. He will be receiving his awards from us shortly. Thank you for all your love and support. Sincerely, The Hollywood Critics Association."

Read The Hollywood Critics Association's statement here:

Dear RRR fans & supporters,

We did invite N. T. Rama Rao Jr. to attend the #HCAFilmAwards but he is shooting a new film in India.

He will be receiving his awards from us shortly.

Thank you for all your love and support.

Sincerely,

The Hollywood Critics Association

— Hollywood Critics Association (@HCAcritics) February 27, 2023

At the Hollywood Critics Association Awards, RRR won Best International Film along with 3 big awards, including Best Action Film, Best Stunts, and Best Original Song for the Oscar-nominated Naatu Naatu.

RRR, set in the 1920's, is a fictitious story based on two legendary freedom fighters - Alluri Seetharamaraju and Komaram Bheem. Speaking of RRR's international glory, the song Naatu Naatu is nominated for the Oscars this year. At the Critics Choice Awards in Los Angeles this year, RRR won two awards - Best Foreign Language Film and Best Original Song for Naatu Naatu. Naatu Naatu also won the Best Song at the 80th Golden Globe Awards last month.

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Motorola Rizr Concept With Rollable 6.5-Inch POLED Display Spotted at MWC 2023: Report

Motorola when it comes to foldables still appears to stick to its clamshell design, which is based on its original clamshell feature phone, the Razr (V3), which was announced back in 2003. With the current gen Motorola Razr 2022 foldable that features two displays, including one inner folding display, is still exclusive to China and the company has now reportedly showcased a new rollable concept at the ongoing Mobile World Congress 2023 (MWC 2023). Motorola is said to have branded the handset as the “Rizr” and while it's still a concept device, it could give us a glimpse of things to come.

According to Twitter user Ben Wood, the device is still in the concept stage, even though a functional working concept was showcased at the unveiling. As the source points out, the name of the smartphone has not been finalised yet, but according to Android Police it's been referred to as the Rizr as it goes with the sliding form factor of the older feature phone. While hands-on demos have been provided, Motorola has revealed very little about this prototype's specifications.

From various reports, it is known that the device that has been showcased at MWC2023 has a 5-inch POLED display with a 15:9 aspect ratio that can reportedly expand to 6.5-inches (in a 22:9 aspect ratio) when needed. The part of the display that's not in use when rolled up, is said to wrap around the bottom and slides up on the back over the rear panel. So, when flipped over, the rolled up display on the back is said to double up as a secondary display, which can be used for showing notifications, just like the outer display on a regular clamshell foldable.

? Wow! Think I've found my favourite gadget at #MWC23 before it even starts. This concept rollable is really impressive and @Moto was confident enough to let us have hands-on time. Interesting to watch the road to commercialisation on this one... pic.twitter.com/EDgkWsOm1t

— Ben Wood (@benwood) February 26, 2023

The software interface has also been customised by Motorola to take advantage of the foldable display, as per the report. The interface and apps are said to stretch and change depending on the state of the display and is smart enough to adapt depending on the content being viewed or the app being used. For example, when in the YouTube app, the display is said to automatically expand when the device is held horizontally to showcase a video in fullscreen.

The rollable display is said to be driven by a small motor that takes up space in the phone, which is why the battery reportedly has a limited 3,000mAh capacity. The phone is quite thick (even with the transparent protective case on) and weighs 210g, as per the report, which is a bit heavier than an Apple iPhone 14 Pro. There appear to be two cameras on the back and a selfie camera along with a speaker grille and sensors are reportedly revealed when the rollable display on the front drops even further when placing calls or clicking selfies.

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Is 2023 the year when you should finally buy a foldable phone? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Unseen Pic Of Salman Khan Enjoying Homemade Food With Family Goes Viral

There is no meal like a homemade meal, and when it is shared by the family on one table, it tastes even better. We all cherish the moments of eating together as a family, and that's why we can relate to the latest picture of Salman Khan dining at home with his family. The picture shows Salman Khan dressed casually in a purple T-shirt, sitting at the dining table with brother, Arbaaz Khan, and mother, Helen. We are well aware that Salman Khan enjoys a massive fan base not only in India but across the world. So it didn't come as a surprise when this picture of Salman Khan took over the internet and went viral.

The unseen picture was posted on the Instagram handle 'viralbhayani.' We are not sure when this picture was taken but it is resonating with millions of Salman's fans. The homely feel of the picture is unmissable.

Also Read: Salman Khan's Sister Arpita Khan Sharma Celebrates Birthday With This Delicious Cake

View this post on Instagram

A post shared by Viral Bhayani (@viralbhayani)

Also Read: Aahana Kumra Enjoys A Healthy And Nutritious “Floating” Breakfast

On the dining table, we can see a large piece of roasted whole fish, a plate of round glossy buns, a few curries, a yellow-green dry sabzi and a large bowl of masala powder. You'll have to agree with us that the spread looks tempting. In fact, to many users, it looked like a 5-star hotel meal and almost all of them were happy to see Salman Khan enjoying homemade food with family. Here are some of the more than 200K comments left on the post:

"Best meals are with the family... lovely pic." 
"5-star hotel mai bhi itna sukoon nhi milta (Not even a 5-star hotel can offer this peace)."
 "Family ke sang khane ka maja hi kuch aur hota hai (The joy of eating with family is something else)."
"Very down-to-earth family, no show-off, simple."
"Mera concentration fish par hai. Mum mein pani aagaya (I am concentrating on the fish. My mouth is watering)."

Also Read: Malaika Arora Enjoys Scrumptious Biryani For Lunch, And We Want Some Too

If you too are drooling over this meal, sorry, but we are going to make it worse for you. Through many comments, we got to know that the Khans eat such a delicious meal every day!'

"Yar unka chef bi 7-star vala hai (Their chef is worth 7 stars)."
"Bhai unka ghar ka meal hi 5-star wala hai (Their home food is always like a 5-star hotel). What's the need to go to a 5-star hotel?"
"When your cooks come from a 5-star hotel for cooking."
"Their meals are very lavish. I remember one interview where Salman said once a party guest just stayed on for a few days after the party for the delicious food and great hospitality in their house!"

How we wish we too get a talented chef to make delicious food for us right there in our kitchen!

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Hong Kong Model's Ex-Husband, In-Laws Charged In Fridge Murder

Four people charged in connection with the killing of 28-year-old model Abby Choi appeared in court on Monday morning, after police found parts of her body in a village house on the outskirts of the financial city.

Hong Kong police said on Sunday they had charged three men, aged 28-65 with murder, and a 63-year old woman, with one count of obstructing the case.

Those charged with Choi's killing included her ex-husband, Alex Kwong, Kwong's brother and their father, police said.

The killing of local influencer Choi, who recently appeared on the digital cover of L'Officiel Monaco fashion magazine, has gripped daily tabloids after she disappeared last Tuesday.

Police discovered parts of her body in the three-storey house in rural Tai Po district last week. They also found a meat slicer and an electric saw at the scene, according to a statement.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Watch: Lionel Messi's Majestic Assist For Mbappe Takes Internet By Storm

Kylian Mbappe scored a brace and Lionel Messi netted another as Ligue 1 leaders Paris Saint Germain routed Marseille 3-0 at the Velodrome on Monday. Messi, who scored a brilliant stoppage-time free kick to secure all three points for PSG last week at home against Lille, got the internet talking with his majestic assist for Mbappe, who doubled his tally for the night with a fine finish. The World Cup winner fooled the Marseille backline with a perfect pass to Mbappe, who ended up scoring the 200th goal of his PSG career.

That assist from leo Messi pic.twitter.com/pfYSjlegJk

— bivvvvv (@Bivvvvvvvvvvvvv) February 26, 2023

Here's how Twitter reacted:

If you want assist? Better call Messi pic.twitter.com/YZSZ3xiexp

— #messi4ever (@siprve) February 26, 2023

What an assist by Messi. Messi is #ObidientMovement #Inecresults pic.twitter.com/GKM8Vczfaq

— Oluyemi Irerua (@oluyemicloud) February 26, 2023

Lionel Messi assist to Kylian Mbappe GOAL Marseille 0-3 PSG
For more videos follow me in Youtube https://t.co/alvkx9beKg#atmosphere #kylianmbappe #mbappe #kylianmbappé #mbappé #messi #lionelmessi #atmosphere #psg #marseille #france #ligue1 pic.twitter.com/SPceQ4OwAv

— Simeon Lazarov (@SimeonLazarov46) February 26, 2023

PSG vs Marseille 3-0 | Leo messi Again Assist Kylian Mbappe #viral #Messi #messi10 #LeoMessi #leomessi #KylianMbappe #Mbappe #PSG pic.twitter.com/pYM1uCyLKT

— N R Shimul (@nrshimul_1) February 26, 2023

Players that Messi gave the most assists at PSG

Mbappe - 17
Neymar - 7
Marquinhos - 2
Di Maria Verratti Kimpembe Soler - 1

56,66% of Messi Assists at PSG went to Mbappe pic.twitter.com/MdAYnXDrZ7

— Filipe (@filipexr7) February 26, 2023

Marseille had high hopes of beating their greatest foes and cutting the gap to the league leaders down to just two points, but Mbappe opened the scoring in lethal fashion in the 25th minute from a Lionel Messi assist.

Mbappe then returned the favour for Messi to double their lead at the Velodrome just four minutes later, and he then linked up with the Argentine to notch his second of the match 10 minutes into the second half and make it 3-0.

That took Mbappe to a double century of goals for PSG in just short of 250 appearances since signing from Monaco in 2017.

The 24-year-old therefore equals his former teammate Edinson Cavani as the club's record marksman.

The convincing win came after a stuttering run of form as PSG moved eight points clear at the top from second-placed Marseille, with Monaco and Lens a further two points behind them.

Monaco lost 3-0 at home to Nice earlier on Sunday.

(With AFP Inputs)

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Zelensky Fires Top Ukraine Military Commander, Gives No Reason

Ukrainian President Volodymyr Zelensky on Sunday fired a senior military commander helping lead the fight against Russian troops in the country's embattled east but gave no reason for the move.

In a one-line decree, Zelensky announced the dismissal of Eduard Moskalyov as commander of the joint forces of Ukraine, which are engaged in battles in the Donbas region.

Zelensky mentioned Moskalyov in a daily address on Friday when listing the military commanders he had spoken to. Moskalyov had been in the post since March 2022, shortly after Russia invaded Ukraine.

Neither the joint forces' Facebook nor Twitter accounts made any mention of the dismissal.

Russian forces are making concerted efforts to capture the two eastern regions that make up the Donbas, and Zelensky has in recent weeks variously described the military situation in the east as difficult and painful.

Pro-Moscow units are focusing their efforts on the city of Bakhmut, mounting repeated assaults despite suffering what Ukrainian and Western officials say are heavy casualties.

In a Facebook post, the Ukrainian armed forces' general staff said Russian troops had carried out several unsuccessful attacks in the Bakhmut area on Sunday.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Masaba Gupta's Sunday Inspiration Is Mom Neena Gupta, Shares Beautiful Pics

Celebrated designer Masaba Gupta's Sunday inspiration is none other than her mother Neena Gupta, and we cannot agree more. The designer uploaded two pictures of her mother on Instagram on Sunday morning and it reeks of beauty and elegance. In one of the frames, we see a young Neena Gupta sitting on the beach in what seems to be her jogging clothes. It is however her green hairband that adds a dash of spunk to her look. In the second frame, we see a zoomed-in image of the eyes of Neena Gupta. The pictures are aesthetically appealing and worth all the inspiration that Masaba might be needing for her next campaign. The designer captioned the post as "Neenaji Sunday Inspo (Inspiration) - this is our next campaign just saying @houseofmasaba I'm inspired.".

Masaba Gupta's words were corroborated by many Instagram users who praised the actress for staying beautiful even now. "Wow, you're beautiful from then till now," wrote one Instagram user while another said, "She is super gorgeous". Here's a look at the post:

View this post on Instagram

A post shared by Masaba (@masabagupta)

A few hours ago, Neena Gupta herself uploaded a picture from her younger days and captioned it "Ye thi main (This was me)". Many however, disagreed including actor Sunil Grover who said "Abhi bhi yahi ho (You are still the same)". Take a peek:

View this post on Instagram

A post shared by Neena Gupta (@neena_gupta)

Designer Masaba Gupta and actor Satyadeep Misra got married in an intimate ceremony last month. Actress Neena Gupta also posted a picture from her daughter Masaba's wedding to actor Satyadeep. "Aaj beti ki shaadi huee dil mein ajeeb see shanti khushi abhaar aur pyaar umda hai (my daughter got married today. My heart is filled with peace, gratitude and love). Sharing with you friends," she wrote. Both bride and mother are dressed in outfits from Masaba's design label. House of Masaba. Masaba Gupta and Satyadeep Misra, who met on the sets of her show Masaba Masaba, had a court wedding in January.

View this post on Instagram

A post shared by Masaba (@masabagupta)

In a second post, Neena Gupta broke down the family members who were at the wedding: Beti, naya beta, bete ki ma, bete ki behen, beti ka pita, main aur mera pati (daughter, new son, son's mother, son's sister, daughter's father, and my husband)," she captioned a group photo. These are - Satyadeep's mother and sisters Nalini and Chinmaya Misra, cricketer Viv Richards and Vivek Mehra, whom Neena Gupta married in 2008.

View this post on Instagram

A post shared by Neena Gupta (@neena_gupta)

Masaba Gupta and Satyadeep Misra announced they were married in a post on social media. The post has two photos of the newlyweds, both in pink – Satyadeep's outfit is also from House of Masaba. "Married my ocean of calm, this morning. Here's to many many lifetimes of love, peace, stability, and most importantly laughter. And thanks for letting me pick the caption - this is gonna be great," reads the caption.

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Drug Shortage, Looming Job Cuts: Pak Hospitals Hit Hard By Economic Crisis

The ongoing economic crisis in Pakistan has badly hit the healthcare system where patients have been struggling for essential medicines. The lack of forex reserves in the country has affected Pakistan's capacity to import the required medicines or the Active Pharmaceutical Ingredients (API) used in domestic production.

As a result, local pharmaceutical manufacturers have been forced to slash their production as patients suffer in hospitals. Doctors are forced to not perform surgeries due to the shortage of drugs and medical equipment.

As per Pakistan media reports, the operation theatres are left with less than the two-week stock of anaesthetics needed for sensitive surgeries, including for heart, cancer and kidney. The situation might also result in job losses in hospitals in Pakistan, further increasing the miseries of people.

The drug makers have blamed the financial system for the crisis in the healthcare system by claiming that commercial banks are not issuing new Letters of Credit (LCs) for their imports.

Pakistan medicine manufacturing is highly import-dependent with almost 95 per cent of the drugs requiring raw materials from other nations, including India and China. For most of the drug manufacturers, the imported materials have been held up at the Karachi port due to a shortage of dollars in the banking system.

The drug manufacturing industry has said that the cost of making drugs is constantly increasing due to rising fuel costs and transportation charges and the sharp devaluation of the Pakistani rupee.

Recently, the Pakistan Medical Association (PMA) called for the intervention of the government to prevent the situation from turning into a disaster. However, the authorities rather than taking immediate steps are still trying to assess the quantum of the shortage.

Drug retailers in Pakistan's Punjab have said that government survey teams carried out field visits to determine the shortage of crucial medicines. The retailers revealed that the shortage of some common but important drugs is impacting the majority of the customers. These medicines include Panadol, Insulin, Brufen, Disprin, Calpol, Tegral, Nimesulide, Hepamerz, Buscopan and Rivotril, etc.

Earlier in January, Pakistan Pharmaceutical Manufacturers' Association (PPMA) Central Chairman Syed Farooq Bukhari said that some 20-25 per cent of pharmaceutical production stands sluggish at present, The Express Tribune reported. He further said, "The worst medicine crisis would erupt in the country if current policies (ban on imports) remain in place for the next four to five-week."

Earlier this month, the Pakistan government and the IMF staff concluded the ninth review of the USD 6.5 billion bailout package without a staff-level agreement. The Pakistani government had hoped that they would be able to convince the IMF about implementing the conditions in a gradual manner. However, Islamabad's hopes were dashed during the IMF mission's 10-day visit to Pakistan.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Amid Lay-Offs, Google Now Fires Robots Who Cleaned Trash : Report

Recent layoffs have impacted thousands of workers across the globe. However, it appears that even robots are now a part of it. Alphabet's newest subsidiary, Everyday Robots, is a team that trained over a hundred wheeled, one-armed robots to clean cafeteria tables, separate trash and open doors. However, Google has announced its closure as a part of budget cuts sweeping the parent company, according to a report in Wired.

Denise Gamboa, Director of Marketing and Communications for Everyday Robots, said, "Everyday Robots will no longer be a separate project within Alphabet. Some of the technology and part of the team will be consolidated into existing robotics efforts within Google Research." 

It was a subsidiary of Alphabet's X moonshot lab, a secret research and development facility established by Google in 2010. According to robotics experts, each of its robots is likely to cost tens of thousands of dollars. 

The outlet added that these costs were extremely expensive for Alphabet, whose more speculative "other bets" such as Everyday Robots and Waymo lost $6.1 billion last year. Alphabet's overall profit fell 21 per cent to $60 billion last year as Google advertising spending slowed. Since then, activist investors have been clamouring for the company to make cuts.

It is to be noted that Alphabet has not disclosed which Everyday Robots assets and team members will be transferred to other research teams.

Also Read: 7 People Fired By Google Come Together To Form New Company

In January, Alphabet Inc announced that it was eliminating about 12,000 jobs or six per cent of its workforce. CEO Sundar Pichai told staff in a memo that the firm had reviewed its products, people and priorities, leading to job cuts across geographies and tech. It had rapidly expanded for better times but now faced "a different economic reality".

"The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here," said Mr Pichai. 

The job losses at the company affected recruiting teams, some corporate functions along with engineering and product teams.

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Twitter Lays Off More Employees In 8th Job Cut Since October: Report

Elon Musk's Twitter Inc laid off dozens of employees on Saturday in what is at least the eighth round of job cuts since Musk took over the social network in late October, the Information reported.

The job cuts impacted multiple engineering teams, including those supporting advertising technology, the main Twitter app as well as technical infrastructure to keep Twitter's systems up and running, the report in the U.S. technology focused publication said early on Sunday, citing people with direct knowledge of the matter.

Twitter did not immediately respond to Reuters request for a comment.

In early November, Twitter laid off about 3,700 employees in a cost-cutting measure by Musk, who acquired the company for $44 billion.

The Information reported that the latest job cuts aim to offset a plunge in revenue following Musk's takeover and further whittle down a staff that had shrunk by at least 70% to roughly 2,000.

Musk in November said that the service was experiencing a "massive drop in revenue" as advertisers pulled spending amid concerns about content moderation.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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India's Economic Growth Appears To Be "Very Fragile": RBI Panel Member

India's economic growth appears to be 'very fragile' and it may fall short of what the country needs to meet the aspirations of its growing workforce, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Sunday.

In India, Varma said he expects inflation to remain high in 2022-23 but come down significantly in 2023-24.

"However, growth appears to be very fragile, and monetary tightening is compressing demand," he told PTI.

Explaining further, he said rising EMI payments increases the pressure on household budgets and dampens spending, and exports are struggling in the face of global factors.

While noting that high interest rates make private capital investment more difficult, Varma said the government is in fiscal consolidation mode, thus reducing the support to the economy from this source.

"Because of all these factors, I fear that growth may fall short of what we need to meet the aspirations of our growing workforce given our demographic context and income level," he said.

The Reserve Bank of India (RBI) has projected India's economic growth at 6.4 per cent for 2023- 24. Gross Domestic Product (GDP) growth is estimated at 7 per cent in 2022-23, according to the first advance estimate of the National Statistical Office (NSO).

The Economic Survey 2022-23 projected a baseline GDP growth of 6.5 per cent in real terms for the next fiscal.

Varma , currently a professor at the Indian Institute of Management, Ahmedabad said he sees global inflationary pressures dissipating in the months ahead as the supply shocks from the pandemic and from the Ukraine war gradually resolve themselves.

"The world is learning to live with the war," he said, adding that. at the same time monetary tightening is putting growth at risk across the world.

Replying to a question on high inflation, Varma said  2022-23 is a year of high inflation due to various supply shocks as well as the delay in monetary tightening during the second half of 2022-23.

"However, I expect inflation to come down significantly in 2023-24. I anticipate a gradual glide path that brings inflation down close to the target," he said.

The RBI lowered the consumer price inflation (CPI) forecast to 6.5 per cent for the current fiscal from 6.7 per cent. India's retail inflation in January was 6.52 per cent.

To a question on the Reserve Bank hiking the short-term lending rate, Varma opined that the balance of risks has shifted towards growth rather than inflation, and in this context, a pause is more appropriate.

While observing that rates are high enough for the MPC to wait and see how the situation evolves, he said, "In the unlikely event of inflation remaining stubbornly high, further rate hikes could be considered at that point of time." The Reserve Bank which has been hiking the short-term lending rate since May last year has cumulatively raised the repo rate by 250 basis points. The repo rate now stands at 6.5 per cent.

Asked what would be the likely impact of hot weather on wheat crop and food inflation, Varma said he hopes that weather anomalies will prove transient and India have a normal monsoon.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Pakistan's Latest Move To Please IMF May Take Loan Interest Rate Up To 19%

Pakistan's government has agreed to increase the policy interest rate which stands at 17 per cent by two per cent or 200 basis points to meet another condition set by the International Monetary Fund (IMF), The Express Tribune reported.

With the new decision, Pakistan has accepted another pre-condition of the IMF for the release of USD 1.1 billion in critical funding, a part of the USD 6.5 billion bailout package, the report said, adding that Pakistan has announced the increase in interest rate based on rates the government set in the auction to raise domestic debt.

The decision by Pakistan authorities will push the interest rate to 19 per cent, just below the previous record of 19.5 per cent set in October 1996, The Express Tribune reported.

Sources in Pakistan's Ministry of Finance said that a technical-level discussion had virtually taken place between Islamabad and the IMF review mission.

The sources revealed that there was an expectation that Pakistan will increase the interest rate by two per cent, according to The Express Tribune report. According to sources, the discussions between the Pakistan government and IMF officials were in the final stage on some issues of the power sector.

Earlier this month, the Pakistan government and the IMF staff concluded the ninth review of the USD 6.5 billion bailout package without a staff-level agreement. The Pakistani government had hoped that they would be able to convince the IMF about implementing the conditions in a gradual manner.

However, Islamabad's hopes were dashed during the IMF mission's 10-day visit to Pakistan.

Amid an unprecedented economic crisis in the country, Pakistan Prime Minister Shehbaz Sharif instructed the Ministry of Foreign Affairs to cut the number of foreign missions as part of austerity measures, reported Geo News.

Prime Minister Shehbaz Sharif announced the decision on February 22.

"The prime minister is pleased to direct that a well-considered proposal/ plan in this respect may please be submitted to this office within two weeks positively," a directive issued by the PM Office reads.

Shehbaz has issued instructions to the Ministry of Foreign Affairs to slash down a number of foreign missions abroad and reduce their offices, staff, and other measures to cut down expenditures by 15 per cent, as per the Geo News report.

As per the news report, the official communication titled "Rationalisation of Foreign Mission Abroad" states that in view of the ongoing economic constraints and the consequent need for fiscal consolidation and control of external deficit, the prime minister was pleased to constitute a National Austerity Committee (NAC).

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G20 Finance Chiefs Fail To Draw A Consensus Over Russia-Ukraine War

Finance leaders of the world's biggest economies were entangled in differences on Saturday over the war in Ukraine and on resolving the debt burden of distressed developing nations, participants said.

The meeting of finance ministers and central bank chiefs of the Group of 20 (G20), hosted by India, was likely to end later in the day without a joint communique because there was no consensus on how to describe the conflict in Ukraine, delegates said.

The United States and its allies in the Group of Seven (G7) industrial powers have been adamant in demanding the communique squarely condemn Russia for the invasion of its neighbour, which has been opposed by the Russian and Chinese delegations, they said.

Russia, a member of the G20 but not the G7, refers to its actions in Ukraine as a "special military operation", and avoids calling it an invasion or war.

India is pressing the meeting to avoid using the word "war" in any communique, G20 officials have told Reuters. India, which holds the this year's G20 presidency, has kept a largely neutral stance on the war, declining to blame Russia for the invasion, seeking a diplomatic solution and sharply boosting its purchases of Russian oil.

India and China were among the nations that abstained on Thursday when U.N. voted overwhelmingly to demand Moscow withdraw its troops from Ukraine and stop fighting.

Besides the G7 nations, the G20 bloc also includes such countries as Australia, Brazil and Saudi Arabia.

A senior G20 source said negotiations over the communique were difficult, with Russia and China blocking proposals by Western countries.

The source and several other officials said barring a last-minute surprise, a consensus on the communique was unlikely and that the meeting was likely to end with a statement by the host summarising the discussions.

"In the absence of a consensus, the option for India would be to issue a chair statement," one official said.

India's foreign, finance and information ministries did not immediately respond to requests seeking comment.

On the sidelines, the International Monetary Fund (IMF) held a meeting on Saturday with the World Bank, China, India, Saudi Arabia and the G7 on restructuring debt for distressed economies, but there were disagreements among members, said IMF Managing Director Kristalina Georgieva.

"We just finished a session in which it was clear that there is a commitment to bridge differences for the benefit of countries," Georgieva, who co-chaired the roundtable with Indian Finance Minister Nirmala Sitharaman, told reporters.

Pressure has been building on China, the world's largest bilateral creditor, and other nations to take a large haircut in loans given to struggling developing nations.

In a video address to the G20 meeting on Friday, Chinese Finance Minister Liu Kun reiterated Beijing's position that the World Bank and other multilateral development banks participate in debt relief by taking haircuts alongside bilateral creditors.

U.S. Treasury Secretary Janet Yellen said before the debt meeting that she would press all bilateral creditors, including China, to participate in meaningful discussions, adding that debt treatment for Zambia and financing assurances for Sri Lanka were "most urgent".

Zambia owed Beijing nearly $6 billion of a total external debt of $17 billion at the end of 2021, according to government data, while Ghana owes China $1.7 billion, according to the International Institute of Finance, a financial services trade association focussed on emerging markets.

Sri Lanka owed Chinese lenders $7.4 billion - or nearly a fifth of public external debt - by the end of 2022, calculations by the China Africa Research Initiative think tank show.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Nostalgia Alert: A Boogie Woogie Throwback, Shared By Isha Koppikar

Major throwback alert. Courtesy: Isha Koppikar Narang. The actress has shared a picture from the sets of the hit dance reality show - Boogie Woogie. The show was created by Ravi Behl and Naved Jaffrey. The judges' panel featured Jaaved Jaaferi, Naved Jaffrey and Ravi Behl. In Isha Koppikar's latest Instagram upload, we can see the actress sharing the frame with Ravi Behl and Naved Jaffrey. The pic was clicked on the sets of the show. In the caption, she simply wrote, “#Flashback to Boogie Woogie. What wonderful memories this photo brings back.” For the hashtag, she added, “Boogie Woogie”,  “down the memory lane” and  “moments like these.” The post became an instant hit on the social media platform. Fans have flooded the comment section with red heart emojis. A person wrote, “Wow nostalgia all the way.” Another added, “Missing Boogie Woogie vibes.” Echoing a similar sentiment, a user wrote, “Yes I remember those days. Miss Boogie Woogie.”

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A post shared by Isha Koppikar Narang (@isha_konnects)

A few days back, Isha Koppikar shared her excitement about Warner Bros Games' latest offering - Hogwarts Legend. Sharing a fan art, Isha wrote, “I am ready for Hogwarts! Love this edit by my fan.” Hogwarts Legend was released earlier this month. The game is set in the 1800s.

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A post shared by Isha Koppikar Narang (@isha_konnects)

Now, look at Isha Koppikar's day at the gym. In the clip, Isha is seen performing a range of exercises. She makes it look so easy. Isha also wrote an extensive note about the training session. She said, “High-Intensity Interval Training (HIIT) has been the gold standard for weight loss until EMS came along. However, the area where EMS scores above HIIT is that EMS is low impact compared to HIIT and hence has less chance of injury.” 

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A post shared by Isha Koppikar Narang (@isha_konnects)

Isha Koppikar is known for her roles in films such as Pinjar, Dil Ka Rishta, Darna Mana Hai, Rudraksh, Krishna Cottage, Kyaa Kool Hai Hum and Salaam-e-Ishq. 

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