Saudi Arabian govt to invest in Yusuff Ali’s LuLu Group

In a humanitarian move, Spain has refused entry to a ship carrying arms from India’s Chennai to Israel to dock at one of its ports, its Foreign Minister José Manuel Albares has said.

The Denmark-flagged cargo ship Marianne Danica sailed from Chennai on April 8 when people in Gaza were observing Ramadan fasting, and was headed to the port of Haifa in Israel, according to maritime tracking portals and Spanish media.

Spain has been extremely critical of the rising civilian casualties due to the Israeli offensive in Gaza and, along with Belgium, has suspended arms exports licenses to Tel Aviv. 

Spokesperson of the Ministry of External Affairs Randhir Jaiswal, at the weekly press conference, only said that they have seen the report of the ship and will revert with more information.

Meanwhile, a source said, “Investigation will reveal if the items on board were cleared for export and if the end user is the same as reported by The Guardian because there are items that are not banned for exports.”

Speaking to reporters in Brussels on Thursday on the issue, Mr. Albares had said, “This is the first time we have done this because it is the first time we have detected a ship carrying a shipment of arms to Israel that wants to call at a Spanish port.”

“This will be a consistent policy with any ship carrying arms to Israel that wants to call at Spanish ports. The Foreign Ministry will systematically reject such stopovers for one obvious reason: the Middle East does not need more weapons, it needs more peace,” he stated.

The ship was carrying 27 tonnes of explosives according to local reports. It was to make a port call at Cartegena in Spain.
In February, Mr. Albares said that they had suspended arms export licences to Israel since October 7, which he said made them “realise” the importance of a “fair and lasting solution” to the Palestinian cause.

The incident comes amid an ongoing row between Spanish Prime Minister Pedro Sánchez’s party and his coalition partners over another ship, Borkum, that was due to dock at Cartegena port on Friday over allegations that it was carrying arms meant for Israel. However, the Spanish government has said that the arms it is ferrying are meant for the Czech Republic.

Belgium had suspended two arms export licences to Israel.

“We welcome the decision of the Spanish government to deny the transit authorisation of the vessel Marianne Danica, in accordance with Tratado (treaty) on Arms Trade and Spanish law,” Amnesty International Spain said on social media platform ‘X’.

The timing also coincides with the Israeli ground offensive inside Rafah. According to the UN Agency for Palestinian Refugees (UNRWA) at least 6,30,000 Palestinians have been forced out of Rafah since the launch of the incursion on May 7.

Forbes has released its ninth edition of the “30 Under 30 Asia” list, celebrating 300 young entrepreneurs, leaders, and trailblazers under 30 who are driving innovation and transforming industries across the Asia-Pacific region. 

Here's a list of Indians who made it to the Forbes list:

ENTERTAINMENT

Pavithra Chari
Pavithra Chari, a trained singer-composer, gained recognition as half of the duo Shadow and Light with Anindo Bose. Their collaboration with the Berklee Indian Ensemble earned a Grammy nomination in 2023. She is also part of the Anirudh Varma Collective, touring the US, and is skilled in Bharatnatyam dance. Ms Chari is also known for covering film hits.

Arpan Kumar Chandel (King)
Indian rapper Arpan Kumar Chandel, also known as King, became known worldwide when Nick Jonas remixed his hit song 'Maan Meri Jaan'. Mr King got famous on MTV Hustle in 2019 and has released many albums since. His latest, 'New Life', features artists like Nikhita Gandhi and Gucci Mane. He's also Sony Audio's ambassador and launched his fragrance, Blanko.

CONSUMER TECHNOLOGY

Kush Jain 
Kush Jain discovered the challenges faced by the visually impaired during a volunteering stint at a Bangalore school in 2018. Motivated to help, he co-founded ORama AI. Their innovative solution, a smart glove, helps the blind and those with reduced vision to learn Braille. The glove features an embedded camera and speaker, tracking finger movements and audibly identifying touched Braille dots.

Arth Chowdhary, Deyvant Bhardwaj and Oshi Kumari 
Arth Chowdhary, Deyvant Bhardwaj and Oshi Kumari co-founded InsideFPV, an Indian drone startup, in 2020. Their main product is an easy-to-use "plug-and-fly" drone, unlike others that require a complex setup. Based in Surat, the company also sells drones and parts online. 

Pranav Manpuria (Flux Auto)
Autonomous driving startup Flux Auto was co-founded by Pranav Manpuria in 2017. The company is working on creating self-driving software for forklifts and warehouse robots. They claim their technology can easily fit into existing systems of infrastructure.

Arun Sreyas and Gautham Maheswaran (RACE Energy)
In 2018, university friends Arun Sreyas and Gautham Maheswaran created RACE Energy. Headquartered in Hyderabad, the startup specialises in creating swappable battery packs tailored for the popular three-wheeled auto-rickshaws in India.

Harshit Jain and Abhik Saha 
Harshit Jain and Abhik Saha co-founded OnePlay, a cloud gaming startup in Mumbai in 2019. OnePlay allows users to play popular games like Baldur's Gate 3 and Palworld across multiple platforms without needing expensive hardware. 

ENTERPRISE TECHNOLOGY

Kunal Aggarwal
Kunal Aggarwal launched Credflow in 2019, offering cashflow management software for small and medium-sized enterprises. The platform analyses business data, sends automated payment reminders, and extends credit lines to eligible users. 

Gaurav Piyush, Mayank Varshney and Yash Sharma
Gaurav Piyush, Mayank Varshney and Yash Sharma came together to establish Blitz, a logistics startup, in 2020. Based in Gurugram, the company, formerly known as Grow Simplee, specialises in offering same- or next-day delivery services by using a network of warehouses and fulfilment centres.

Aditya Dadia
Aditya Dadia founded AIwrite in 2022, providing new digital software for India's insurance sector. Based in Mumbai, the startup uses machine learning to help insurance companies analyze risks and develop products faster. 

FINANCE AND VENTURE CAPITAL

Aalesh Avlani (CWC)
Aalesh Avlani, a Boston University graduate, co-founded Credit Wise Capital (CWC), a finance company specialising in providing loans for motorcycles. Founded in 2019, CWC received $6 million in startup funding the following year. They use technology like a WhatsApp bot to quickly assess creditworthiness, making it easier for people with no credit history to apply for loans.  

Srinivas Sarkar and Kushagra Manglik (Coupl)
Srinivas Sarkar and Kushagra Manglik co-founded Coupl, India's bank designed for couples of all types. Launched in early 2022, the startup helps couples, irrespective of marital status or sexual orientation, effectively manage their finances with joint accounts and linked ATM cards.

Aniket Damle
Aniket Damle works with Blackstone's private equity investment team in Asia, focusing on investments in India's healthcare, consumer, and industrial sectors. At just 23 years old, he made his first deal when Blackstone collaborated with Sona BLW to establish Sona Comstar, a technology platform company focused on electric vehicles, in 2018.

Yashvardhan Kanoi (Alter Global)
Yashvardhan Kanoi heads investments at Alter Global, a venture capital firm linking Silicon Valley with startups in emerging markets. Since 2019, he led investments in companies across Southeast Asia, South Asia, and Latin America like Ula, BukuKas, and CoLearn.

Manish Maryada (Fello)
Manish Maryada co-founded Fello, a fintech startup based in India. Fello offers rewards to users to make investing enjoyable. When users invest a certain amount through the app, they receive a ticket to play in-house games and win rewards and prizes. Founded in 2021, Fello has been downloaded over a million times and has raised over $5 million in funding.

Anuj Srivastava and Priyesh Srivastava (OnFinance AI)
Anuj Srivastava and Priyesh Srivastava (not related) co-founded OnFinance AI, a Bengaluru-based startup. They developed NeoGPT, a ChatGPT-like service tailored for the finance industry, which helps analyse data, generate forecasts, and conduct financial market research.

HEALTHCARE AND SCIENCE

Karan Ahuja
Google research scientist Karan Ahuja will become an assistant professor of computer science at Northwestern University starting in September 2024. With a PhD in human-computer interaction from Carnegie Mellon University, Mr Ahuja has focused on projects like body-movement sensing for smartwatches and gaze-tracking for smartphone control. His work has earned nearly 1,000 citations over the past five years. 

Aryan Chauhan
Aryan Chauhan, along with his mother Monika Chauhan, co-founded Zivov in 2021 with the aim of helping with diabetes treatment. Their solution involves a self-developed sensor that attaches to the skin to monitor blood sugar levels. Users can access the results through Zivov's smartphone app.

INDUSTRY, MANUFACTURING AND ENERGY

Akshit Bansal and Raghav Arora (Statiq)
Akshit Bansal, CEO of Statiq, got the idea for greener transportation while biking through Bengaluru's polluted streets. After a failed car-sharing venture with his friend Raghav Arora, they shifted their focus to electric vehicles. Their Gurgaon-based company, Statiq, now operates a nationwide network of charging stations for electric cars, buses, trucks, and three-wheelers. The company has raised $27.5 million from investors and expects to post its first operating profit in the next financial year.

Ankit Jain and Narayan Lal Gurjar (EF Polymer)
Ankit Jain and Narayan Lal Gurjar co-founded the agriculture startup EF Polymer in 2018. Their company has created a powder-like water-retention product made from biodegradable materials like bananas and orange peels. This product helps retain moisture in the soil and enhance crop yields by absorbing excess water and gradually releasing it.

Chirag Jain and Rama Krishna Mendu (EndureAir Systems)
Chirag Jain and Rama Krishna Mendu founded EndureAir Systems, a drone startup, in 2018. The Noida-based company has created three drone models for mapping, monitoring, and logistics. One of them is battery-powered and can carry up to 15 kg while travelling 15 km.  

Rahil Gupta (Hop Electric Mobility)
Rahil Gupta co-founded Hop Electric Mobility, an electric motorbike startup, in 2020. The company offers three products priced between ₹66,790 and ₹1,33,580. Their premium Oxo bike, for instance, can reach speeds of up to 95 km per hour and cover 150 km on a single charge

MEDIA, MARKETING AND ADVERTISING

Kavan Antani

Kavan Antani is one of the co-founders of IndieFolio, a Mumbai-based on-demand talent marketplace catering to creative professionals. Launched in 2014, the platform serves as a connection hub for designers, animators, content creators, and video producers with clients seeking talent. IndieFolio boasts a talent pool of over 70,000 individuals and counts major clients like Paytm, Ogilvy, and Domino's Pizza.

Iran's state media today said that there was "no sign" of life among passengers of the helicopter which was carrying President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian, and other officials.

Here are 10 points on this tragedy

1.    "Upon finding the helicopter, there was no sign of the helicopter passengers being alive as of yet," state TV reported. The incident occurred during President Raisi's return flight to the Iranian city Tabriz after he and Azerbaijani President Ilham Aliyev inaugurated the Qiz Qalasi Dam on their shared border. 

2.    The helicopter, carrying President Raisi, Foreign Minister Hossein Amir-Abdollahian, and other officials, lost contact approximately 30 minutes into the flight. This sparked immediate concerns and a massive search and rescue operation.

3.    Initial reports from Iran's state media described the situation as an "accident." Iran's Deputy President for Executive Affairs Mohsen Mansouri said that two members of the president's entourage had contacted rescue teams, suggesting that the incident might not have been catastrophic. Mansouri added that the Ministry of Communications had managed to narrow down the potential crash site to within a two-kilometre radius.

4.    Iranian state media reported that Deputy Foreign Minister for Economic Diplomacy Mehdi Safari claimed that the Tabriz Friday prayer leader had managed to speak with President Raisi, 63, via phone from the downed helicopter. "Mehdi Safari, who was present in one of the three helicopters carrying President Raisi's entourage, said the Tabriz Friday prayer leader had made a phone call to the president from inside the crashed copter," the report reads. 

5.    Iran's Supreme Leader Ayatollah Ali Khamenei urged calm and assured that there would be no disruption in the country's governance. "We hope that Almighty God will bring our dear president and his companions back in full health into the arms of the nation," he stated in a televised address.

6.    The search effort has been extensive, with more than 60 rescue teams, including army, Revolutionary Guard forces, and police units, scouring the foggy, mountainous terrain. The harsh weather conditions and heavy fog have significantly hampered these efforts. Iran's Red Crescent chief, Pirhossein Koolivand, said the team has detected a "smell of fuel" in one area, which rescue teams are now converging on.

7.    The international community has expressed concern and offered assistance. Neighbouring countries and organisations, including Iraq, Kuwait, Qatar, Saudi Arabia, Syria, Russia, Turkey, and the European Union, have pledged support. The EU has even activated its rapid response mapping service to aid in the search efforts.

8.    Prime Minister Narendra Modi on Sunday expressed his "deep concern" with a post on social media. "Deeply concerned by reports regarding President Raisi's helicopter flight today. We stand in solidarity with the Iranian people in this hour of distress, and pray for well being of the President and his entourage," he said in a post on X.

9.    Iranian Foreign Ministry spokesman Nasser Kanani conveyed gratitude for the international solidarity and offers of help. US President Joe Biden has been briefed on the situation, with a State Department spokesman confirming they are closely monitoring developments.

10.    This incident follows a period of heightened regional tensions, particularly in light of the Gaza conflict and Iran's recent escalations with Israel. President Raisi, who has been in office since 2021, has pledged Iran's steadfast support for Palestine, a stance reiterated during his recent dam inauguration speech.