Saif Ali Khan 'garbage', 'should be taken away': Maha Minister Nitesh Rane introduces Hindu-Muslim angle

Dubai, June 27: HDFC Bank, India’s largest private lender, is under scrutiny in the UAE over allegations it sold high-risk Credit Suisse AT1 bonds to retail investors in violation of regulatory norms.

The bonds — complex instruments meant only for experienced or high-net-worth clients — were wiped out in March 2023 during Credit Suisse’s emergency merger with UBS. Several investors claim HDFC Bank relationship managers misrepresented these as safe, forged financial documents to meet eligibility criteria, and failed to disclose crucial risks.

Dubai resident Varun Mahajan says he lost $300,000 in savings and alleges the bank inflated his net worth to bypass DFSA rules. Another investor, NS from the Philippines, claimed he was sold AT1 bonds using a leverage loan he never applied for. Others, including Indian national Pankaj Sinha and South Africa-based AT, described similar misrepresentation, unauthorized document changes, and manipulation of KYC data.

Legal complaints have been filed in India, the UAE, Bahrain, and DIFC. Investors accuse the bank of misleading them and exposing them to losses running into millions of dollars.

In response, HDFC Bank denied any wrongdoing, stating it follows strict processes and takes action against malpractice. The DFSA has declined to comment due to legal confidentiality.

Internal sources say several HDFC executives have recently resigned, and the Dubai offshore head has been replaced, raising questions about accountability.

Experts say the case exposes regulatory gaps across jurisdictions and may prompt closer scrutiny of how banks operate across borders.

Hyderabad, July 30: At least six workers were feared killed and 20 others injured in a massive reactor blast at an industrial unit at Pashamailaram near Hyderabad on Monday.

The incident occurred at a chemical factory in the industrial area in Sangareddy district around 9 a.m.

The explosion triggered a huge fire, which engulfed the premises of Sigachi Chemicals. Firefighters rushed to the spot to douse the fire. Eleven fire engines were pressed into service to control the fire.

Police, fire services and other personnel launched rescue and relief operations. Ambulances were also seen at the spot to shift the injured to hospitals.

The injured were admitted to government and private hospitals. The condition of some of the injured is stated to be critical.

Six of the workers were feared killed on the spot while an injured worker reportedly succumbed at a hospital. Officials have not yet confirmed deaths.

According to eye-witnesses, such was the impact of the explosion that workers were tossed in the air and fell several meters away. The manufacturing unit in the factory collapsed under the impact of the blast, while fire spread to the adjoining building within the factory premises.

Several workers were working near the reactor when it exploded. Migrant workers from Odisha, Uttar Pradesh and other states were employed in the industrial unit.

The explosion and fire sent panic among the employees in the chemical unit and the adjoining factories. They ran out of the premises.

The rescue workers were also using earthmovers to remove the debris of the demolished structure, as there are apprehensions that some workers may be trapped under it.

Sangareddy District Collector P. Pravinya and Superintendent of Police Paritosh Pankaj also rushed to the spot and were supervising rescue and relief operations.

Personnel from various industrial units and staff of different departments also joined the rescue operation.

Washington, July 1: In a major policy shift, President Donald Trump on Monday signed an executive order lifting most US economic sanctions on Syria — a move widely seen as legitimizing the country's new interim leader, Ahmed al-Sharaa, a former jihadist commander with deep ties to extremist groups.

From Terrorist to President

Ahmed al-Sharaa — better known by his nom de guerre, Abu Mohammad al-Julani — was once a top commander in al-Qaeda’s Syrian affiliate, Jabhat al-Nusra, which later rebranded as Hay’at Tahrir al-Sham (HTS). The US had designated HTS a terrorist group, and Julani himself was listed as a "Specially Designated Global Terrorist." His transformation from militant leader to interim president has raised eyebrows globally.

Trump Fulfills Pledge After Saudi Meeting

In May 2025, Trump met al-Sharaa in Saudi Arabia and promised to lift economic restrictions — a pledge fulfilled with Monday’s executive order. The order ends the national emergency declared in 2004 under President George W. Bush and repeals five other Syria-related executive orders.

Key Sanctions Still in Place

Sanctions imposed under the Caesar Act — targeting Bashar al-Assad, his top aides, and others responsible for war crimes, drug trafficking, or chemical weapons — remain in place and can only be lifted by Congress. Sanctions also continue against groups and individuals linked to the production of Captagon, the amphetamine fueling much of the region’s drug trade.

“Reintegration into Global Markets”

The US Treasury's Brad Smith said the move would “reintegrate Syria into the international financial system” and pave the way for investment from neighboring Arab states and the US itself. The White House described the shift as part of a broader effort to promote "stability and peace" in Syria.

Syria Quietly Assists Israeli Airstrikes on Iran

Critics say al-Sharaa's regime has already begun aligning with US and Israeli regional interests. During Israel's airstrikes on Iran in mid-June 2025 — part of a campaign dubbed Operation Rising Lion — Syrian airspace was reportedly used by Israeli jets en route to Iranian targets. According to All Israel News and The Jerusalem Post, Syria “quietly opened its airspace” for the mission. One analyst remarked, “Every blow to Iran is pure benefit to al-Sharaa’s regime.”

State Sponsor of Terrorism Label Under Review
Despite the rollback, Syria remains officially listed as a state sponsor of terrorism, and the group formerly led by al-Sharaa is still designated as a foreign terrorist organization. A State Department official confirmed that both designations are currently under review.

EU Follows Suit on Sanctions

The European Union has also reportedly moved to lift nearly all remaining sanctions on Syria, signaling a broader normalization of ties between Western powers and Damascus’ new leadership — a leader who, until recently, was considered one of the world’s most wanted jihadists.