As 82-year-old Nancy Pelosi landed in Taiwan, it was not just the political onlookers that awaited what next from Beijing, the tension in the tech ecosystem escalated. Editorji explains why this 14,000-square-mile island is the epicenter of the global tech revolution. 
- Simply speaking it is the digital powerhouse of the U.S. with enormous manufacturing centers of China- Taiwan is the Silicon Valley of Asia, with a large focus on manufacturing and AI-  U.S. consumes more than $63 billion worth of Taiwanese tech exports - Taiwan Semiconductor Manufacturing Co. is one of the biggest chip foundries on the planet-  Taiwan accounts for more than 90% of the world’s most advanced chip manufacturing with South Korea at 8%, according to a report from the Semiconductor Industry Association and the Boston Consulting Group-  Most companies that design chips today — Qualcomm, Nvidia and Apple among them — don't actually do the manufacturing, instead relying on companies like TSMC.- If Taiwan's chip production were permanently disrupted, the Semiconductor Industry Association estimates it would take three years and $350 billion in investment to build enough capacity to replace it.- The island manufactures about 25–30% of integrated circuits (ICs) globally - Taiwan’s Foxconn, is the world’s largest contract electronics makes iphone and in contract with Google as well-  Big suppliers of liquid-crystal display panels- The island manufactures about 25–30% of integrated circuits (ICs) globally - No one knows for sure how much of China's exports in information and communications hardware are made in Taiwanese-owned factories, but the estimates run from 40% to 80%

Explained: Why Taiwan tensions is worrying the entire tech ecosystem?

Tensions around Taiwan on the rise, Editorji explains why this 14,000-square-mile island is critical to the global tech ecosystem from iPhones to AI. 

Taiwan, Tension & Tech

As 82-year-old Nancy Pelosi landed in Taiwan, it was not just the political onlookers that await the next move from Beijing, tech titans globally are watching with bated breath.&nbsp;

As 82-year-old <a href="https://www.editorji.com/world-news/us-house-speaker-nancy-pelosi-leaves-taiwan-after-a-high-tension-visit-1659536532607">Nancy Pelosi</a> landed in Taiwan, it was not just the political onlookers that await the next move from Beijing, tech titans globally are watching with bated breath.
US House Speaker Nancy Pelosi leaves Taiwan after a high-tension visit
Editorji explains why this 14,000-square-mile island is the epicenter of the global tech revolution.&nbsp;
<ul>
<li>Simply speaking it is the digital powerhouse of the U.S. with enormous manufacturing centers of China</li>
<li>Taiwan is the Silicon Valley of Asia, with a large focus on manufacturing and AI</li>
<li>U.S. consumes more than $63 billion worth of Taiwanese tech exports</li>
<li>Taiwan Semiconductor Manufacturing Co. is one of the biggest chip foundries on the planet</li>
<li>Taiwan accounts for more than 90% of the world&rsquo;s most advanced chip manufacturing with South Korea at 8%, according to a report from the Semiconductor Industry Association and the Boston Consulting Group</li>
<li>Most companies that design chips today &mdash; Qualcomm, Nvidia and Apple among them &mdash; don't actually do the manufacturing, instead relying on companies like Taiwan's TSMC&nbsp;</li>
<li>&nbsp;If Taiwan's chip production were permanently disrupted, the Semiconductor Industry Association estimates it would take three years and $350 billion in investment to build enough capacity to replace it.</li>
<li>The island manufactures about 25&ndash;30% of integrated circuits (ICs) globally</li>
<li>Taiwan&rsquo;s Foxconn, is the world&rsquo;s largest contract electronics makes iphone and in contract with Google as well</li>
<li>Globally big suppliers of liquid-crystal display panels</li>
<li>&nbsp;No one knows for sure how much of China's exports in information and communications hardware are made in Taiwanese-owned factories, but the estimates run from 40% to 80%.&nbsp;</li>
</ul>

Top 10 richest women in India: Kotak Private Banking and Hurun India launched the third edition of the Leading Wealthy Women List, based on the net worth of women as of December 31, 2021. Here's the list: 

List of Richest Women in India 2022 | Top 10 richest women in India |  India's Richest Women List

Do you know these top 10 wealthiest women of India?

Here's the list: 


List of Richest Women in India 2022

The cumulative wealth of the top 100 women in the list surged by 53% to ₹4,16,970 crore.

Top richest women of India : Kotak Private Banking and Hurun India launched the third edition of the Leading Wealthy Women List, based on the net worth of women as of December 31, 2021. Here's the list:&nbsp;
Roshni Nadar Malhotra, the recently appointed Chairperson of the INR 70,680 crore global technology company, HCL Technologies, ranks first on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 54,850 crore.&nbsp;
Falguni Nayar, the founder and CEO of beauty e-commerce platform Nykaa overtook Kiran Mazumdar Shaw, Chairperson of Biocon, to become the richest self-made woman with a wealth of Rs. 57,520 crores.
Kiran Mazumdar-Shaw, Founder &amp; MD of Biocon, ranks second on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 36,600 crore.
Leena Gandhi Tewari ranks third on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 21,340 crore. Leena chairs privately-held USV, which is a pioneer in diabetic and cardiovascular medicines in India with growing traction in APIs and biosimilars among other medical solutions.&nbsp;
Nilima Motaparti For the past five years, as a director of Divi&rsquo;s Laboratories, Nilima oversaw all elements of Divi&rsquo;s Laboratories&rsquo; material sourcing and procurement, corporate finance, and investor relations. Her wealth surged by over 50 percent during the year.
Radha Vembu sister of Zoho founder Sridhar, ranks fifth on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. Radha Vembu founded the tech company, Zoho Mail with her brother Sridhar Vembu and has been co-leading it since 2007. Based out of Chennai, this product manager of Zoho Mail, saw her wealth rise by 127 percent in one year.
<a href="https://www.editorji.com/business-news/pm-modi-to-launch-india-s-first-international-bullion-exchange-but-what-is-it-1659005075875" target="_blank" rel="nofollow noopener">PM Modi to launch India's first international bullion exchange but what is it?</a>
Jayshree Ullal Jayshree Ullal ranks sixth on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 10,220 crore. London-born, Jayshree is the CEO of the fastest-growing cloud-networking company, Arista Networks, which is currently valued at USD 16 billion under her leadership.
Neha Narkhede, the co-founder, CTO and CPO,&nbsp;is the eighth richest new member in the list. In June 2021, Confluent&rsquo; valuation rose 25% on the NASDAQ, to hit $11.4 billion (₹84,930 crore), according to the report.&nbsp;
Vandana Lal, director at Dr Lal PathLabs is a new entrant to the top ten list. She is also the head of Dr Lal PathLabs&rsquo; research and development department with a wealth of Rs 6,810 crore.&nbsp;

Burberry has set an example for cultural representation in fashion as they recently chose to pick a four-year-old Sikh boy for their autumn winter '22 collection. 

Burberry casts 4-year-old patka-wearing model for autumn-winter '22 collection

A four-year-old Sikh boy has become the first patka-wearing model. Recently, Burberry shared the pictures of their autumn winter '22 collection and the little boy was featured in it. 

Burberry sets example for cultural representation in fashion!

British luxury brand Burberry chose to cast a 4-year-old Sikh boy for their autumn winter '22 collection and with this, they set an example for cultural representation.&nbsp;

Fashion is versatile, it can be revamped and customised but what is lacking is cultural representation. However, Burberry has now set an example as it showed diversity in its latest campaign.&nbsp;
The British luxury fashion house released pictures of its children's autumn-winter '22 collection. In the latest collection, they chose to cast a four-year-old boy Sahib Singh, and they made him the first patka-wearing model.
The images of the same were shared on the official Instagram account of Sahib Singh. In the caption, it was mentioned that "being part of the Burberry Bear autumn winter '22 campaign is incredible and to be the first patka wearing model for the biggest British brand is just an amazing achievement for our little 4-year-old and the Sikh community."
<h3>What is patka?&nbsp;</h3>
Patka holds traditional value as it is worn by Sikh boys before they start wearing the pagri, which is also known as a turban.&nbsp;
Burberry has been drawing praise on social media. Several users praised the brand for representing the Sikh community and promoting inclusivity and diversity.

RBI Governor salary 2022 : RTI response reveals that the RBI Governor Shaktikanta Das’ remuneration stood at Rs 2.5 lakh per month last year. RBI chief's salary is in-line with what the SBI Chairman earns which amounts to close to Rs 34 lakhs/years.

RBI Governor salary: RBI Governor's salary, the comparison with a bank CEO is shocking! 

Revealed: The RBI Governor's salary, the comparison with a bank CEO is shocking!

Payslip vs Payslip: Regulator vs Regulated

Right to Information (RTI) query response reveals how much RBI Governor earns&nbsp;

The top boss of Mint Street makes 40 times less than the bankers he regulates! An <a href="https://www.editorji.com/india-news/pm-cares-fund-can-t-be-under-rti-it-is-not-a-govt-trust-pmo-1632389522095" target="_blank" rel="nofollow noopener">Right to Information Act (RTI) </a>response reveals that the Reserve Bank of India (RBI) Governor Shaktikanta Das&rsquo; remuneration stood at Rs 2.5 lakh per month last year.&nbsp; Moneycontrol reports that the <a href="https://www.editorji.com/business-news/rbi-june-monetary-policy-factors-at-play-for-shaktikanta-das-1654078209537" target="_blank" rel="nofollow noopener">RBI </a>chief's salary is in-line with what the State Bank of India (SBI) Chairman earns which amounts to close to Rs 34 lakhs per year.&nbsp;
<a href="https://www.editorji.com/business-news/fed-rate-hike-to-massive-market-rally-all-that-happened-overnight-1658966796657" target="_blank" rel="nofollow noopener">Fed raises rates but Fed Chief Powell's comments power up the markets</a> The comparison with SBI Chairman may seem equitable but when the figure is pitched against the private bankers Das supervises and regulates the gap is shocking. The salaries of the top five private bank leaders ranged between 2.3 crore to Rs 7.1 crore per annum, including perks. Thus refelecting that they earn over 10 times what their counterpart at SBI or their regulatory supervisor earns.

ITR Filing Mistakes : The due date for Income Tax Return (ITR) filing for salaried taxpayers is around the corner and EJ Biz puts together the Dos and also the Do Nots for your tax filings

ITR Filing: Mistakes that you should avoid while filing income tax returns

Time for ITR Filing: Make sure you have this list of Dos and Donts 

ITR Filing Mistakes : The ITR filing for the assessment year 2022-23 (AY23) is now available on the income tax e-filing

ITR Filing Mistakes: The due date for Income Tax Return (ITR) filing for salaried taxpayers is around the corner and EJ Biz puts together the Dos and also the Do Nots for your tax filings:
<h3>1. Income Tax Return filing last date</h3>
The due date for filing of return for a class of taxpayers who are not mandated to audit under the income tax law is July 31, while it is October 31, for those cases that are mandated to audit under the Income Tax Law or any other law.
Also read/watch| <a title="Which country holds the most powerful passport?" href="https://www.editorji.com/business-news/which-country-holds-the-most-powerful-passport-1658308542645">Which country holds the most powerful passport?</a>
<h3>2. ITR filing late fees:</h3>
People can file <a href="https://www.editorji.com/business-news/personal-finance/itr-filing-5-mistakes-that-you-should-avoid-while-filing-income-tax-returns-1638166783878" target="_blank">ITR </a>after the deadline passes but they have to pay a late fee. As per the latest details, if the yearly income of an individual is above Rs 5 lakh per annum, a late fee of Rs 5,000 will be imposed. If the income is below Rs 5 lakh per annum, then a late fee of Rs 1,000 will be imposed on the person who will file the ITR after the deadline.
<h3>3. Keep your form in mind&nbsp;</h3>
Individuals should be careful while filling out the<a href="https://www.editorji.com/business-news/personal-finance/itr-filing-5-mistakes-that-you-should-avoid-while-filing-income-tax-returns-1638166783878" target="_blank"> income tax return (ITR)</a> forms. They should make sure that they are filling out the correct ITR form that is applicable to their situation.
<h3>4. Providing incorrect information</h3>
While filing the ITR is necessary, providing correct personal information in the forms is even more critical. The details that need special attention are PAN details, e-mail ID, date of birth and IFSC code.

World's most powerful passports in 2022: The Henley Passport Index 2022: Mirror, Mirror on the wall which is the most powerful passport of them all? The Henely passport Index 2022 is throwing up some surprised with Europe’s domination easing and Asia

Which country holds the most powerful passport? | World's most powerful passports in 2022

The Western domination being the passport posse' is ending, find out which is the most powerful passport in the world...the rankings will surprise you. 

Which country holds the most powerful passport?

Henley Passport Index 2022: The Index also finds the top nations are the least recovered when it comes to life after Covid-19

The Henley Passport Index 2022: Mirror, Mirror on the wall which is the most powerful passport of them all? The Henely passport Index 2022 is throwing up some surprised with Europe&rsquo;s domination easing and Asia coming to the forefront.
Here are the winners -:
Also read/watch| <a title="Google and Oracle data centres are having a 'meltdown' in the heatwave" href="https://www.editorji.com/business-news/google-and-oracle-data-centres-are-have-a-meltdown-in-the-heatwave-1658292694311">Google and Oracle data centres are having a 'meltdown' in the heatwave</a>
&bull;&nbsp; Japan has the <a href="https://www.editorji.com/business-news/which-country-holds-the-most-powerful-passport-1658308542645" target="_blank">world's most powerful passport</a> as per the Henely passport Index 2022. With this, Japanese in the world can visit 191 destinations without visa.
&bull;&nbsp; Singapore slipped to joint second place alongside South Korea, with passport holders from both countries able to access 192 destinations around the world visa-free.
&bull;&nbsp; The UK is sixth with access to 187 countries, while an American <a href="https://www.editorji.com/business-news/you-could-have-an-e-passport-by-the-end-of-this-year-thanks-to-tcs-1655780629413" target="_blank">passport </a>gets us access to 186 countries placing them at number 7.
&bull;&nbsp; Indian passport holders get hassle-free entry into 58 countries but that puts us in 84th place, sharing the spot with Mauritania and Tajikistan.
&bull;&nbsp; Across our borders, despite Covid constraints, China is placed 69th with access to 80 countries while the Pakistan passport has been ranked as the 4th worst passport to hold, placed at 104th position.&nbsp;
&bull;&nbsp; Afghanistan&rsquo;s passport is the least useful, getting the holder into only 27 countries.&nbsp;

In the latest twist from the Twitter tales, a big win coming for the platform as they got court approval to fast-track the case against Elon Musk to make him complete the $44 billion buyout.A set back for the Technoking at Tesla as his lawyers argued that the expedited timeline was far too aggressive as they will now face an expedited 5-day trial set to begin in October. Twitter whose shares have fallen 22% since Musk backed out of the deal is trying to legally enforce the $44 billion buyout o the world's richest man. After three months of a very public display of crossfire with Twitter, Musk seemed to have buyers remorse as he cancelled his plans just as fast as he seemed to have decided on them. Musk pinned the blame on Twitter as his lawyers stated the site underreported the number of spam and fraud accounts on its messaging service and failed to send Musk information that could presumably help the executive better calculate those statistics.

Twitter Trials: Elon Musk to face legal onslaught from October 

Big win for Twitter Judge grants fast-tracked October trial to try and enforce buyout on Musk

Twitter Trials: Musk to face legal onslaught from October 

A Delaware Court ruled in favour of Twitter for an expedited 5-day trial set to begin in October.&nbsp;

In the latest twist from the Twitter tales, a big win coming for the platform as they got court approval to fast-track the case against <a href="https://www.editorji.com/business-news/elon-musk-and-twitter-saga-tesla-boss-tweets-after-twitter-sues-him-1657692618350" target="_blank">Elon Musk</a> to make him complete the $44 billion buyout. A set back for the Technoking at <a href="https://www.editorji.com/business-news/tesla-fires-singapore-country-manager-elon-musk-says-very-tough-quarter-1655176254935" target="_blank">Tesla </a>as his lawyers argued that the expedited timeline was far too aggressive as they will now face an expedited 5-day trial set to begin in October.&nbsp;
Also read/watch| <a title="Extraordinary Attorney Woo: This new Korean Drama is lifting the stock exchange&nbsp;" href="https://www.editorji.com/business-news/extraordinary-attorney-woo-this-new-korean-drama-is-lifting-the-stock-exchange-1658285565996">Extraordinary Attorney Woo: This new Korean Drama is lifting the stock exchange&nbsp;</a> Twitter whose shares have fallen 22% since Musk backed out of the deal is trying to legally enforce the $44 billion buyout o the world's richest man. After three months of a very public display of crossfire with Twitter, Musk seemed to have buyers remorse as he cancelled his plans just as fast as he seemed to have decided on them. Musk pinned the blame on Twitter as his lawyers stated the site underreported the number of spam and fraud accounts on its messaging service and failed to send Musk information that could presumably help the executive better calculate those statistics.

3,000,000,000,000 that's the marketcap of global cryptocurrency trade. As India looks to regulate the booming crypto trade in the subcontinent, here is a look at how the world is dealing with digital token deluge-:
United StatesCryptocurrency is legal in the states, but there is no comprehensive regulation to govern crypto activities. For now, bitcoin (BTC) and ether (ETH) are categorized as ‘commodities’ and taxed as ‘property’ by the IRS.
The US Securities and Exchange Commission (SEC) puts across cryptocurrencies to be securities on which security laws are very much applicable and cryptocurrency exchanges fall under the regulations for the Bank Secrecy Act 
The European UnionEU has been in the limelight as it is one of the initial countries to make cryptocurrency legal but there is no specific regulation passed by the EU that governs crypto activities.
Taxation on cryptocurrencies also varies by country, ranging from 0% to 50%. The EU has recently rolled out the latest anti-money laundering directives to be followed by crypto exchanges to ensure no wrongdoing. 
ChinaThe Mainland's dealings with cryptocurrencies has been a roller-coaster ride.From the most welcoming to one of the most restricted crypto-markets in the world. In June 2021, it banned the mining of cryptocurrencies, leading to about a 40% fall in global mining operations. China is focusing on promoting it's Digital Yuan as a priority post the ban.
South KoreaIn South Korea, crypto exchanges are legal but not cryptocurrencies. Cryptocurrency transactions are expected from taxes. However, the Ministry of Strategy and Finance has laid out its plan of imposing a tax on crypto transactions with a revised tax framework to be launched in 2022.

Crypto Bill: A look at how the world is regulating cryptocurrencies 

Crypto legal limbo: A look at how the world is regulating cryptocurrencies through the craze and collapse

Crypto legal limbo

A look at cryptocurrency regulations in major economies and groupings and see how India may compare.

Crypto and its cryptic legal stance in India continues, the FM has made it clear that banning digital token is not feasible without international collaboration. But how is the world over managing the crypto craze and now the collapse -:
United States Cryptocurrency is legal in the states, but there is no comprehensive regulation to govern crypto activities. For now, bitcoin (BTC) and ether (ETH) are categorized as &lsquo;commodities&rsquo; and taxed as &lsquo;property&rsquo; by the IRS.
The US Securities and Exchange Commission (SEC) puts across cryptocurrencies to be securities on which security laws are very much applicable and cryptocurrency exchanges fall under the regulations for the Bank Secrecy Act&nbsp;
Also read/watch| <a title="FM explains why a complete crypto ban is not possible" href="https://www.editorji.com/business-news/cryptocurrency/fm-explains-why-a-complete-crypto-ban-is-not-possible-1658134695654">FM explains why a complete crypto ban is not possible</a>
The European Union EU has been in the limelight as it is one of the initial countries to make cryptocurrency legal but there is no specific regulation passed by the EU that governs crypto activities.
Taxation on cryptocurrencies also varies by country, ranging from 0% to 50%. The EU has recently rolled out the latest anti-money laundering directives to be followed by crypto exchanges to ensure no wrongdoing.&nbsp;
China The Mainland's dealings with cryptocurrencies has been a roller-coaster ride.From the most welcoming to one of the most restricted crypto-markets in the world. In June 2021, it banned the mining of cryptocurrencies, leading to about a 40% fall in global mining operations. China is focusing on promoting it's Digital Yuan as a priority post the ban.
South Korea In South Korea, crypto exchanges are legal but not cryptocurrencies. Cryptocurrency transactions are expected from taxes. However, the Ministry of Strategy and Finance has laid out its plan of imposing a tax on crypto transactions with a revised tax framework to be launched in 2022.

Over 4 lakh homes are either delayed or unfinished by builders across seven major cities as per a report. So if you are one of the unfortunate consumers who is stuck with an unfinished home here are your options-:
Register a complaint with the authority: The first option is to file a consumer complaint with the Real Estate Regulation and Development Authority (RERA) for delayed projects. RERA permits a homebuyer a choice of seeking either interest on delayed possession or a complete refund of the money paid along with interest thereon.
Legal recourse: Depending on the value of the property, buyers can approach the National Consumer Disputes Redressal Commission (NCDRC) -- a quasi-judicial commission set up in 1988 under the Consumer Protection Act, 1986. 
Progress and EMI: Experts suggest to keep a close watch on the schedule of progress updates being provided by the builders. If there is a delay or no updates one is recommended contact RERA along with EMI payments made so far. 

Home buyers dilemma as housing projects get stuck! What to do

Housing project stuck? Here is what you can do 

Report shows over 4 lakh&nbsp;homes stuck/delayed by builders across major cities

Over 4 lakh homes are either delayed or unfinished by builders across seven major cities as per a report. So if you are one of the unfortunate consumers who is stuck with an unfinished home here are your options-:
Register a complaint with the authority: The first option is to file a consumer complaint with the Real Estate Regulation and Development Authority (RERA) for delayed projects. RERA permits a homebuyer a choice of seeking either interest on delayed possession or a complete refund of the money paid along with interest thereon.
Also read/watch| <a title="Is Beyonce singing about the 'Great Resignation'?" href="https://www.editorji.com/business-news/is-beyonce-singing-about-the-great-resignation-1655882822861">Is Beyonce singing about the 'Great Resignation'?</a>
Legal recourse: Depending on the value of the property, buyers can approach the National Consumer Disputes Redressal Commission (NCDRC) -- a quasi-judicial commission set up in 1988 under the Consumer Protection Act, 1986.&nbsp;
Progress and EMI: Experts suggest to keep a close watch on the schedule of progress updates being provided by the builders. If there is a delay or no updates one is recommended contact RERA along with EMI payments made so far.&nbsp;

From 2017 to 2021, Binance processed transactions totalling at least $2.35 billion stemming from hacks, investment frauds and illegal drug sales, a report by Reuters stated as they calculated from an examination of court records, statements by law enforcement and blockchain data.
Separately, crypto researcher Chainalysis, hired by U.S. government agencies to track illegal flows, concluded in a 2020 report that Binance received criminal funds totalling $770 million in 2019 alone, more than any other crypto exchange. Binance CEO Changpeng Zhao accused Chainalysis on Twitter of “bad business etiquette."
Reuters reviewed detailed data about Binance client transactions on 'darknet' sites – marketplaces for narcotics, weapons and other illegal items. Most of the data was provided by Crystal Blockchain, an Amsterdam-based analysis firm that helps companies and governments trace crypto funds. The data showed that from 2017 to 2022, buyers and sellers on the world’s largest darknet drugs market, a Russian-language site called Hydra, used Binance to make and receive crypto payments worth $780 million. Reuters cross-checked these figures with another analysis firm, which agreed with the findings.
In Germany, police said investigators began seeing criminals in Europe turn to Binance in 2020 to launder some of the proceeds from investment fraud schemes that caused victims, many of them pensioners, to lose in total 750 million euros ($800 million). 
The report also pointed out how North Korea’s Lazarus used Binance to launder some of the cryptocurrency stolen from Eterbase.
Binance, however, said it uses transaction monitoring and risk assessments to ensure that any illegal funds are tracked, frozen, recovered and/or returned to their rightful owner.
With around 120 million users worldwide, Binance processes crypto trades worth hundreds of billions of dollars a month.

Is Binance a safe-house for hackers, fraudsters and drug traffickers?

Is the world's largest crypto exchange Binance a safe-house for hackers, fraudsters and drug traffickers operating from Russia to North Korea?

Binance is said to have been an easy exchange to launder money through due to its previously lax KYC requirements.

A new report from Reuters claims Binance allowed more than $2.35 billion worth of criminal funds to process through its exchange unchecked. As per the investigation, from 2017 to 2021, Binance processed transactions totalling at least&nbsp;$2.35 billion&nbsp;stemming from hacks, investment frauds and illegal drug sales, a report by&nbsp;Reuters stated as they calculated from an examination of court records, statements by law enforcement and blockchain data. The Reuters report singles out entities having allegedly laundered money through Binance, including the Lazarus Group, the North Korean cybercrime syndicate responsible for&nbsp;hacking&nbsp;$550 million from the Ronin bridge last year. Hydra, a giant Russian-language darknet marketplace that used cryptocurrencies for the sale and purchase of drugs, is also said to have used Binance to process more than $780 million since early 2018 as per the report.&nbsp;
Separately, crypto researcher Chainalysis, hired by U.S. government agencies to track illegal flows, concluded in a 2020 report that Binance received criminal funds totalling $770 million in 2019 alone, more than any other crypto exchange. Binance CEO Changpeng Zhao accused Chainalysis on Twitter of &ldquo;bad business etiquette."
Binance, however, said it uses transaction monitoring and risk assessments to ensure that any illegal funds are tracked, frozen, recovered and/or returned to their rightful owner. A&nbsp;Binance spokesperson was quoted saying that &ldquo;the article uses outdated information from 2019 and unverified personal attestations as a crutch to establish a false narrative&rdquo; before highlighting Binance&rsquo;s cooperation with law enforcement in multiple cybercrime investigations.
&nbsp;

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A SpiceJet aircraft aborted take-off on the Mumbai airport runway on Thursday as the caution alert lit up. This is the ninth incident of technical malfunction on a SpiceJet aircraft in the last 40 days.
On Thursday's incident, SpiceJet said, "A SpiceJet Q400 aircraft scheduled to operate from Mumbai to Kandla rejected take off owing to illumination of a caution alert. Crew acted as per the SOP (standard operating procedure)."
"There was no safety scare. The aircraft returned back to bay and all passengers and crew safely deboarded," it mentioned.Owing to the high number of technical snags aviation regulator DGCA has ordered SpiceJet to operate not more than 50 per cent of its flights for eight weeks to ensure "safe and reliable transport service".
SpiceJet holds nearly 10% of India's domestic market, operates a fleet of about 80 narrow-body aircraft. SpiceJet shares are at a 2-year low, down about 46% in 2022 (YTD). 

Another SpiceJet plane faces malfunction, aborts take-off

Another technical snag for SpiceJet

This is the ninth incident of technical malfunction on a SpiceJet aircraft in the last 40 days.

A SpiceJet aircraft aborted take-off on the Mumbai airport runway on Thursday as the caution alert lit up. This is the ninth incident of technical malfunction on a SpiceJet aircraft in the last 40 days.
On Thursday's incident, SpiceJet said, "A SpiceJet Q400 aircraft scheduled to operate from Mumbai to Kandla rejected take off owing to illumination of a caution alert. Crew acted as per the SOP (standard operating procedure)."
"There was no safety scare. The aircraft returned back to bay and all passengers and crew safely deboarded," it mentioned. Owing to the high number of technical snags aviation regulator DGCA has ordered SpiceJet to operate not more than 50 per cent of its flights for eight weeks to ensure "safe and reliable transport service".
SpiceJet holds nearly 10% of India's domestic market, operates a fleet of about 80 narrow-body aircraft. SpiceJet shares are at a 2-year low, down about 46% in 2022 (YTD). &nbsp;

Big Bull Rakesh Jhunjhunwala passes away at 62

Rakesh Jhujhunwala, veteran investor, passed away at 62 in Mumbai. Known as 'India's Warren Buffett', and even the Big Bull, Jhunjhunwala began his investing journey in 1985 as a young CA. Starting with just Rs 5000 as capital nealy 4 decades ago Rakesh Jhunjhunwala's wealth has multiplied to nearly $6 billion with marquee investments such as Titan, Lupin, Tata Motors and many others.&nbsp; Prime Minister Narendra Modi whom the investor met earlier this year took to Twitter to condole calling Jhunjhunwala &ldquo;indomitable&rdquo; and who left behind &ldquo;an indelible contribution to the financial world.&rdquo;&nbsp; Rakesh Jhunjhunwala born on 5th July 1960 in Mumbai.&nbsp; His father was an Income tax officer and got him interested in stocks.&nbsp; In 2009 in an interview to ET he was quoted saying: See, the only truth of life is death and that when I am going to die I would say boss, just leave me for three hours, I would buy one stock, I will do some trading, I will spend some time with my children, my wife, I will have two drinks and then you can burn me. So it has to be combination of everything. With his newest investment Akasa taking to the skies this month right after his birthday the final trade for this ace investor has been punched.

In the latest news from the IPO corner, Syrma SGS a technology-focussed engineering and design company is ready to test its fate with investors. Here is all you need to know 

IPO Opens: August 12 
IPO Closes: August 18
IPO Price: Rs 209 to Rs 220
Grey Market Premium: Rs 30/share (as per reports)

The initial public offering comprises fresh issuance of shares worth Rs 766 crore, and an offer for sale of 33.69 lakh equity shares by promoter Veena Kumari Tandon.Chennai-based engineering and design company Syrma SGS Tech is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries.As per the DRHP the company provided products to over 200 customers of which 16 customers have been associated with the company for more than 10 years. Some of the key names in the client roster include TVS Motor Company, Eureka Forbes, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

IPO watch: Syrma SGS Technology IPO, dates to GMP everything you need to know

After over 2 months of an IPO drought, Syrma SGS Technology tests the markets' mettle. Here is all you need to know about the IPO 

First IPO to hit Dalal Street after two and a half months&nbsp;

In the latest news from the IPO corner, Syrma SGS a technology-focused engineering and design company is ready to test its fate with investors. Here is all you need to know&nbsp;
<ul>
<li>IPO Opens: August 12 </li>
<li>IPO Closes: August 18</li>
<li>IPO Price: Rs 209 to Rs 220</li>
<li>Grey Market Premium: Rs 30/share (as per reports)</li>
</ul>
The initial public offering comprises fresh issuance of shares worth Rs 766 crore, and an offer for sale of 33.69 lakh equity shares by promoter Veena Kumari Tandon. Chennai-based engineering and design company Syrma SGS Tech is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries. As per the DRHP the company provided products to over 200 customers of which 16 customers have been associated with the company for more than 10 years. Some of the key names in the client roster include TVS Motor Company, Eureka Forbes, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

As the future of Twitter is at stake, the social media giant said the notion Elon Musk was "hoodwinked" into inking a $44 billion buyout deal defies reason and the facts.
In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company.
The company accused Musk of contriving a story to escape a merger agreement that he no longer found attractive.
The Tesla boss wooed Twitter's board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts. 

Elon Musk making up excuses to breach twitter deal? 

Twitter calls Musk’s reasoning “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.”

Musk also accused Twitter of breaching their agreement by &ldquo;stonewalling&rdquo; his information requests

It is a battle of a bungled buyout, bots and with billions at stake. As the future of Twitter's sale remains in limbo, the social media giant dismissed the notion the world's richest man Elon Musk was "hoodwinked" into inking a $44 billion buyout deal.&nbsp;
In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April. In a court filing, Twitter calls Musk&rsquo;s reasoning &ldquo;a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.&rdquo;
The Tesla boss wooed Twitter's board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts.&nbsp; The fate of that acquisition, which Musk agreed to without taking the time to examine the details of Twitter&rsquo;s business, now rests with a Delaware court where Twitter sued to force Musk to complete the deal. The case is scheduled to go to trial on October 17. &nbsp;

After partnership with luxury maisons like Valentino, Manish Malhotra and Abu Jani Sandeep Khosla, Mukesh Ambani-backed Reliance Industries is in another effort to make luxury fashion accessible by bringing Spanish luxury house Balenciaga to India by 2023. 
Reliance Brands Ltd (RBL), a unit of the conglomerate, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL’s second with the parent group Kering, that houses Balenciaga. 
Founded by Spanish-born Cristóbal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique. 

Reliance to bring Spanish luxury brand, Balenciaga to India by this year

Reliance to bring Spanish luxury brand Balenciaga to India

Get ready to shop at Balenciaga in India

Reliance has been on a dealmaking spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret-A-Manager&nbsp;

The House of Ambani is adding one more luxury brand to it's offering. Mukesh Ambani-backed Reliance brands is bringing Spanish luxury house Balenciaga to India.&nbsp; Reliance Brands Ltd (RBL), a unit of the conglomerate, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL&rsquo;s second with the parent group Kering, that houses Balenciaga.&nbsp;
Founded by Spanish-born Crist&oacute;bal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique.&nbsp;
Reliance Brands Ltd(RBL) has a portfolio of brand partnerships with leading global brands, including Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy &amp; Boch and West Elm.

Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better. 
Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list.LIC topped the list of companies from India, followed by eight other domestic firms. 
Reliance Industries jumped 51 places to 104 on the 2022 list.
Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. 

LIC breaks to top-ranked Indian firm on Fortune Global 500 List

LIC breaks into Fortune 500 joining 8 other Indian firms. Reliance makes a huge leap

Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190

Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better.&nbsp;
Recently-listed Life <a href="https://www.editorji.com/business-news/lic-shares-hit-new-record-low-1654504813674">Insurance Corporation (LIC) </a>has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. LIC topped the list of companies from India, followed by eight other domestic firms.&nbsp;
Reliance Industries jumped 51 places to 104 on the 2022 list.
<a href="https://www.editorji.com/business-news/big-job-losses-walmart-lays-off-hundreds-slashes-profit-guidance-1659588670683">Walmart </a>landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever.&nbsp;

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