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Todays News: Nawab Sharif in jail, Passport Racket, Cruise Service

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Day in Short 15 July

Let’s head towards today’s (15 July 18′) news headlines.

Passport racket busted

Passport Racket India

There are some with knowledge of loopholes of making original passport and with the help of some officials, they do so. And by this ‘original’ passports many fake people are traveling abroad. Recently crime branch has uprooted such racket which was running from 3 decades and 10 people are arrested under the Goondas Act. This racket mostly made Sri Lankan Tamils fly abroad with this type of passport for 3 lakhs to 5 lakh rupees.


 For Daily News: DAY IN SHORT (Click Here)

Swimming coach rapes 4- year old girl

Swimming Coach Arrested

*Image is not of the real girl. The picture is just for illustration.

Swimming coach of a private school from greater Noida allegedly raped a 4-year-old girl on a Thursday evening. Chandi Das, accused rapist, raped the girl during swimming training on Thursday at school in Surjapur according to the SHO of Surjapur Police Station. The culprit was arrested when the girl narrated this incident to her parents.

 

Cruise service from Mumbai to Goa

Cruise Service from Mumbai to Goa

Aiming to boost tourism, shipping minister Nitin Gadkari has announced that a cruise service will be started from Mumbai to Goa from the next month that is August 1. This cruise will have a capacity to hold 500 passengers and there will be six types of tickets available starting from Rs. 7,500. Alongside this announcement, he also said that there will be two floating restaurants in Mumbai which will be opening soon.


Also Read: Facebook Shutting Down there Apps

Google engineer beaten till death

Google engineer beaten on romours

Image Courtesy: Indiatimes

A 32-year-old software engineer beaten till deaf by a mob assuming him a child lifter by believing Whatsapp rumors. Police said, this man Mohammad Azam was driving with his three friends and one of them was from Qatar. He was distributing chocolates to children when one of the local misconducted him as child lifter as it was the case in the locality from past few days. After this, a mob took over this group leading to death and the other three were injured.

 

Woman drinks car radiator to survive

Woman Survives after drinkg car crashA US woman named, Angela Hernandez has survived by drinking water from her car’s radiator after the car ended up with an accident from a coastal cliff in California. She was found by a group of hikers when they saw her car submerged in the coastal area. And according to authorities, she is well in a good condition.


Also Read: Surfing Web Without Internet Connection: Google Chrome

No dirty washroom for Nawab Sharif in jail

Nawaz SharifNawab Sharif of Pakistan along with her daughter was arrested during their way back to Lahore from London. Nawab’s Son Hussain has alleged to provide his father a bed and clean washroom in jail after seeing that he was not provided with a bed. According to previous reports, it is also said that Mawab Sharif and her daughter will be getting Air Conditioner and Television in jail.

 

Potholes kill more than a terror attack

PotholesAccording to reports, potholes have been taking 10 lives daily counting for 3,596 lives this year which is 50% more than that of tolls of 2016. Maharashtra had the most died due to potholes which are 726 deaths. It is a serious issue as the terrorist activities including Naxal attacks took 807 lives in 2017 and these deaths are way more than this activities.


Also Read: Best Laptops for College Journey

639 farmers commuted suicide in Maharashtra

Farmers commited SuicideIn between March and May, there was a total of 639 suicide case of farmers from Maharashtra alone according to state Revenue Minister Chandrakant Patil. He also said in his statement that the main reason for this suicides ere crop failure, debts, and bank loans. And counting from this 639 suicides, 188 deaths were registered for the compensation policy.

 

Rs. 53 crore penalty on Diageo India

Diageo India PenaltyMaharashtra Excise Department has penalized liquor giant Diageo India for Rs. 53 crore for evading excise duty on importing scotch. When the company’s record was rechecked, Rs 17 crore excise duty was encased for 5,92,085 liters of whiskey import for which the department had penalized the company for three times excise duty ended making it a penalty of Rs. 53 crore.

 

Hope you are updated with today’s big news. And if you want to be updated daily, do turn on your notification for our article.

Business

Why Is America So Rich?

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Why is America So Rich

The United States is the world’s most prosperous economy. It’s been that way for so long, over a hundred years. That we take it for granted. But how did it happen? There are many answers, of course.

One is that the United States values the free market over government control of the economy. But here’s a point that is seldom made: It didn’t begin that way. Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed, did the United States start to develop a world-beating economy.

Let’s look at three telling examples: In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.

American Fur Company

American Fur Company

Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action. So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him. But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year.


Also Read: Reason Behind Indian Economy Growth

Thomas McKenney

Thomas McKenney

Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.

A similar situation developed in the 1840’s around the telegraph. The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.

Morse, more of an idealist than a businessman, agreed to let the government own and operate the telegraph “in the national interest.” But the government steadily lost money each month it operated the telegraph.

telegraph

telegraph

During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise. In the hands of entrepreneurs, the business took off.


Also Read: Why is Dubai so Rich?

Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers, and insurance companies saw how they could instantly monitor investments near and far. As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852.

By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean. Why didn’t the US government profitably use what Morse had invented?

Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When the government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.

But entrepreneurs like Ezra Cornell, the founder of Western Union, did. Cheaper, better service meant more customers and more profits. Just fifteen years after Congress privatized the telegraph, both the costs of construction and the rates for service linking the major cities were as little as one-tenth of the original rates established by Washington. In the steamship business, we see the story repeated yet again.

Western Union

WU

During the 1840s, regular steamship travel began between New York and England. The government placed its bets on shipowner Edward Collins, a man more skilled at political lobbying than at business. While Congress funded Collins, Cornelius Vanderbilt started his own steamship company. Vanderbilt cut the costs of travel, filled his ships with eager passengers, and built a fabulously successful business, soon leaving Collins in his wake.

Collins failed because he didn’t feel a need to improve, or even provide safe and regular service (for example, two of his four ships sank, killing hundreds of passengers). If he lost money, there was always another politician to appeal to.


Also Read: India, the new SUPERPOWER?

Vanderbilt, in contrast, had to serve his customers or he would have lost his company. You’d think we would have learned our lesson by now: economic prosperity comes from free enterprise, not from government subsidies. But it’s a lesson we have to learn every generation.

So, this was all about how America became Rich. Comment your thoughts on America (United States).

Source: PragerU
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Story of Alibaba

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The traditional marketplace has seen little change over the past few 100 years. You’ve got a buyer. You’ve got a seller. Which then leads to a transaction. But over the past couple of decades, things have started to change at an unprecedented pace. And perhaps no company is reshaping that experience more than Alibaba.

What is Alibaba?

Alibaba is one of the world’s largest retailers. The company has more than 500 million people using its shopping apps every month and if you’re thinking its scale is limited to China, well think again. It has operations in more than 200 countries.
The company was founded by CEO Jack Ma in 1999 with 17 other people. And he knew he was onto something big.
Jack Ma (CEO) Alibaba

Jack Ma (CEO)

“When I have a competitor like Google or eBay, as a Chinese local company, we can learn a lot, we can improve ourselves. They should be careful of us.”

Alibaba set the record for the biggest IPO in history, which took place at the New York Stock Exchange in 2014.

And the year 2017, Alibaba was the first company in Asia to exceed the $400 billion valuation mark, an honor that had previously only been held by American companies. Alibaba is amongst other global eCommerce giants transforming the marketplace from Physical Market Places to Online Market Places.


Also Read: What is an IPO?

The company is made up of three main sites, Taobao, Tmall, and Alibaba.com. Combined, they have hundreds of millions of users and host millions of merchants and businesses. Which means they can pretty much be used by anyone, anywhere, for anything.

Alibaba Office out logo

Alibaba

So how does it even work? Meet our fictional character, John, she lives in Beijing. John wants to buy a new blender, so he logs onto Taobao. He finds one he likes, being sold by, let’s say, Chris. He lives in Shanghai and sells the blenders to individuals at a competitive price. When John goes to check out, he doesn’t use his credit card. He uses AliPay to purchase the item. Think of it like using PayPal. Chris then accepts the AliPay payment from John.

So where did the supplier, Chris, get the blenders from? Well, he bought a supply of 1,000 units on 1688.com, the popular Chinese version of Alibaba.com. It sells bulk orders to suppliers like himself.

He bought his batch from a manufacturer named Keith on TMall which allows businesses to sell wholesale. Keith owns a blender company and production facility in Shenzhen which produces the items and other kitchen appliances. Previously, Chris only sold to individual buyers in China. But recently, he’s listed his blenders on AliExpress, which sells to customers outside of China.

So now, Laura, who’s living in California and found the blender on AliExpress, can also buy it from Chris. And yes, she can even use Alipay too.

Of course, importing products from China into the U.S. is nothing new. The difference? Now, anyone in the world can do it on their mobile device and all through the same company. But it’s not the only eCommerce. Chris has been selling so many blenders lately that he wants to grow his business faster. But he doesn’t have the money to buy more units from Keith. So Chris uses AntFinancial, to get financing. The loan helps him order an extra 10,000 units.


Also Read: What is Xiaomi?

So, for buying, selling, digital payments, and even financing, you’ve done it all in Alibaba’s platforms. And Alibaba now includes a shipping company, a messaging app, a movie studio named Alibaba Pictures, and more. Alibaba’s growth is primarily fueled by China’s massive population and rising middle class, but Jack Ma wants world domination for the company.

That’s why Alibaba is investing heavily in companies in other markets as well. Most of which are also being pursued by Amazon. The marketplace as we know it has changed forever. And it’s likely going to be companies like Alibaba which continue to lead its evolution.

So this was all about Alibaba. Hope you enjoyed reading the Article also visit our other articles and stay tuned for more interesting articles like this.

Source: CNBC
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Todays News: Rs. 40 Crore Microscope, Silk Hair, Warren Buffett

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Hello, welcome to newsbooklet for today’s big news headlines. Without any more wasting of your time, let’s start.

 

Rs. 40 Crore microscope to view atoms

IITM unveils 40 crores microscope @newsbooklet

IIT Madras has accomplished its task in making world’s first remotely operated Local Electrode Atom Probe also known as LEAP, which is capable of providing 3D images of the atoms present side by side of any material. This expensive instrument which cost around Rs. 40 Crore is being funded by Department of Science and Technology along with India’s top eight research institute which comprises of IIT Bombay, IIT Delhi, and IIT Kanpur. LEAP can be taken in use in many departments of Automobile and energy-related industries.

 

App Store revenue is double to that of Play Store

App Store:PLay store revenue @newsbooklet

Many of us pay on the App Store and Play Store for our favorite games, movies, and Books. And so this creates a revenue for the companies. Apple’s App Store had generated about $22.6 billion worldwide whereas the Play store managed to drive $11.8 billion according to the Sensor Tower. This is during the first half of the year. Taking a look at previous years revenue, App Store managed to make $38.5 billion compared to Google Play Stores $20.8 billion. So according to Thai statics, it looks they will be able to make a record-breaking revenue as compared to the year 2017.


Also Read: 10 Health & Fitness Gadgets by Xiaomi

Silk-based hair follicles made

IIT delhi makes silk based hair @newsbooklet

IIT Delhi is being successful in developing silk-based hair follicles which will be helpful in testing the new medicine which is for the treatment of hair loss. For this earlier, the animals were used but if we believe to researcher Sourabh Ghosh, physiological differences in animal and human hair are very high which makes the success rate very less. This was the reason that a 3D in vitro novel of human hair was needed which is now possible.

 

Charity of $3.4 billion by Warren Buffet

warren Buffett @newsbooklet

Warren Buffet who is amongst the richest person on the world has donated $3.4 billion to charity institutions. This was the stocks of Berkshire Hathaway which are now for the Bills and Melinda Gates Foundation and other four charity institute which tie up with the Buffet family. In his 87 years of life, he has donated $30.9 billion counting since 2006.


Also Read: Best Laptops for College Journey

Golden Temples entrances to be gold plated

Golden Temple entrance domes with 160kg gold @newsbooklet

Entrances of Golden Temple has golden domes which symbolize that the shrine’s door are always open for everyone. And to keep this dome golden, they are to be plated with 160 kg of gold which will be donated by the devotees. According to the officials, most of the devotes donate their jewelry, but they also donate cash for the gold.

 

Russian woman charged for spying

Russian Woman spying US @newsbooklet

A 29 years old Russian woman is being charged by US government under the act as signifying her as Russian Government agent when she was developing some ties with an American citizen and trying to infiltrate the political groups of US. Maria Butina has developed close relations with the Republican Party of US and was successful in securing a place of an advocate for gun rights.

 

Publicly drinking in Goa is finable

Alcohol at goa beach gets fine @newsbooklet

Goa Chief Minister Manohar Parrikar has said that drinking alcohol in public will now be an offensive act which is to bring in fine of Rs. 2500 which will be started from August 15. The government is yet to issue an official letter but Parrikar said it will be released before August. This step is to prevent the littering of alcohol bottles in the state and making it a cleaner place.


Also Read: What is Xiaomi (Mi)?

Hawaiian tour boat hit by Lava Bomb

Lava bomb hots boat @newsbooklet

Lava Bomb

A Hawaiian tour boat was hit by a Lava Bomb in which 23 people were injured due to the breaking to vessel’s roof and the air coming in. According to the officials, this tour boat was outside the US coastguard safety zone. Many be wondering about the Lava Bomb, so it is a natural phenomenon in which a huge cloud of smoke rises due to the mixing of lava and water.

 

2 Indians in the ‘Worlds Highest Paid Celebs’ list

Akshay and salman highest paid actors @newsbooklet

Very much loved actors Akshay Kumar and Salman Khan have made their way to the list of Worlds Highest Paid Celebrities list of Forbes. Akshay Kumar with the earning of $40.5 million (Rs.276 crore) was ranked 76th whereas Salman Khan with earning of $37.7 million (Rs. 256 crores) was ranked 82nd amongst the top 100 highest paid celebrities. Boxer Floyd Mayweather has topped the list of highest paid celebrity with the earning of $275 million.


Our Daily news Series: DAY IN SHORT

Hope you enjoyed reading this news.

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