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Top headlines: India faces high power cut risks, Apple to focus on India

Apple to put a bigger focus on India by making it a separate region

Apple Inc. is reshuffling management of its international businesses to put a bigger focus on India, according to people with knowledge of the matter, a sign of the nation’s growing importance. The shift will mark the first time that India becomes its own sales region at Apple, which has seen demand surge in the country. That will give the Asian nation increased prominence inside the tech giant. Read more

Adani Group rout puts spotlight on billions flowing through Mauritius

The tiny island of Mauritius spent years trying to clean up its image as a base for murky money launderers and shell firms. The short-seller allegations against billionaire Gautam Adani are once again reviving questions about the country’s role as a tax haven for India’s tycoons. Read more

India faces high power cut risks after years of coal, hydropower neglect

India faces a high risk of nighttime power cuts this summer and in coming years, as delays in adding new coal-fired and hydropower capacity could limit the country’s ability to address surging electricity demand when solar energy is not available. Read more

Senate committee votes for Garcetti’s nomination as US Ambassador to India

A key senatorial committee on Wednesday voted 13-8 to advance the nomination of Eric Garcetti as US Ambassador to India. Garcetti, 52, is the former mayor of Los Angeles and his nomination has been pending before the US Congress since July 2021, when he was nominated for this prestigious diplomatic posting by President Joe Biden. Read more

Centre brings crypto assets under PMLA, wrongdoing can be probed by ED

The central government has brought the trading of cryptocurrency and digital assets within the ambit of the Prevention of Money Laundering Act (PMLA) through a gazette notification. The move comes even as the legislation to govern the cryptocurrency sector is still awaited, and at a time when India — as Group of 20 (G20) President — is looking to drive the narrative among global leaders and regulators on the dangers of crypto–currency. Read more

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