Israel-Iran air war enters 2nd week amid Netanyahu’s push for US intervention

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.

Vadodara, July 9: A tragic bridge collapse on Tuesday morning over the Mahisagar river has claimed several lives, raising serious questions about the Gujarat government’s infrastructure oversight and preparedness.

The Gambhira bridge, linking Vadodara and Anand districts, suddenly gave way around 7 a.m., plunging vehicles into the river below. According to eyewitnesses, the bridge span crumbled without warning, sending two trucks, a pick-up van, a car, and multiple motorcycles into the water.

Narendra Mali, a local fisherman who witnessed the collapse, recounted the horrifying moment: “We heard a loud noise and looked up. Vehicles were falling like toys. We immediately rowed towards the scene to rescue people.” Despite rescue efforts by locals and disaster teams, most passengers couldn’t be saved.

Rescue operations led by police and disaster response teams are ongoing. Among the nine deceased, six have been identified so far. The identities of the remaining victims are yet to be confirmed.

A Disaster Long in the Making

Built in 1985, the Gambhira bridge was over four decades old and in a visibly dilapidated state. Locals had repeatedly warned that the bridge shook under the weight of vehicles, yet it remained open to traffic. A proposal for constructing a new bridge was already approved by the government following a recommendation by local BJP MLA Chaitanyasinh Zala, but no urgent steps were taken to close the old one.

The tragic incident has sparked outrage, with residents and opposition leaders asking why traffic was not stopped until the new structure was completed. “This was a preventable tragedy,” said a former municipal engineer who had inspected the area earlier this year.

Political Reactions and Compensation

Prime Minister Narendra Modi expressed his sorrow, calling the loss of lives “deeply saddening.” He announced an ex gratia of Rs 2 lakh for the families of each deceased victim and Rs 50,000 for the injured.

Chief Minister Bhupendra Patel also expressed condolences and pledged Rs 4 lakh for the kin of the deceased and Rs 50,000 for the injured, along with free medical treatment. “We stand with the families in this time of grief,” he said.

Vadodara Collector Anil Dhamelia confirmed that rescue remains the top priority. “We’re focused on saving lives and recovering vehicles. Traffic has been diverted,” he stated.

Opposition Slams ‘Gujarat Model’

The Opposition Congress Party has hit out at the state government, calling the incident a “symbol of infrastructure failure under the so-called Gujarat Model.” Senior Congress leader Amit Chavda said, “We raised this issue multiple times. The bridge was unsafe, but no action was taken. This negligence has cost lives.”

Congress alleged deep-rooted corruption in infrastructure planning and execution, claiming that many such aging bridges across Gujarat have been left unattended.

Voices from the Ground

For the locals near the Mahisagar, the collapse has left not just trauma but a bitter question: how many lives must be lost before crumbling infrastructure is taken seriously?

As rescue teams continue searching for survivors and victims, the state now faces tough scrutiny — and grieving families demand accountability.

Palestinian authorities in Gaza have released alarming figures on the starving civilians killed by Israeli live fire while waiting in line for humanitarian aid.

The Palestinian authorities condemned the regime forces’ ongoing attacks on Palestinians seeking aid across the territory.

Gaza’s Government Media Office said approximately 580 Palestinians have been killed and over 4200 others injured as a result of Israeli attacks on civilians seeking aid.

It held Israel and its allies, particularly the US, the UK, France, and Germany, legally and morally responsible for supporting the systematic extermination of civilians in Gaza.

The office also urged the international community to pressure Israel to open Gaza’s crossings, lift its blockade, and allow the immediate entry of humanitarian aid before it is too late.

The new revelation came after Israeli media reported that soldiers have deliberately shot at unarmed Palestinians seeking aid in Gaza after being “ordered” to do so by their commanders.

UN agencies have also condemned the so-called US-Israeli food distribution system in Gaza, calling it a death trap.

Researchers have found that almost 100,000 Palestinians have been killed since the start of Israel’s genocidal war on the Gaza Strip in October 2023.

The figure was published in a new study led by University of London economist Professor Michael Spagat and Palestinian political scientist Khalil Shikaki, who surveyed 2,000 households in the besieged Gaza, comprising almost 10,000 people.

The researchers concluded that, as of January 2025, some 75,200 people died a violent death in Gaza during the Israeli aggression, the vast majority caused by Israeli munitions, along with 8,540 killed via a non-violent death.

Since January, more than 10,000 people have also been reported killed by the Gaza Health Ministry, bringing the combined fatality count to nearly 100,000.

The new death toll shows that the Gaza Health Ministry understates the true scale of the crisis caused by the Israeli aggression, compounded by hunger, disease, and gunfire at food distribution centers