State lawmakers worry that southern Kansas is vulnerable to oil spills from the Keystone pipeline system because earthquakes have become more frequent there
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Tuesday, 14 March 2023
Monday, 13 March 2023
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US Stance On Silicon Valley Bank Reassuring For Indian Startups: Nasscom
Apex IT industry body Nasscom on Monday said the US administration's stance on protecting depositors of Silicon Valley Bank that collapsed, is "reassuring" for Indian startups who have funds in that bank.
Biden administration's announcement that depositors of failed Silicon Valley Bank (SVB) will have access to their money, has given hope and will address the immediate financial issues that these startups were grappling with, Nasscom's Senior Vice President and chief strategy officer Sangeeta Gupta told PTI.
California-based SVB, the 16th largest bank in the United States, was closed on Friday by the California Department of Financial Protection and Innovation which later appointed the US Federal Deposit Insurance Corporation (FDIC) as its receiver.
SVB was deeply entrenched in the tech startup ecosystem and the default bank for many high-flying startups; its abrupt fall marked one of the largest bank failures since the 2008 global financial crisis.
The bank failed after clients -- many of the venture capital firms and VC-backed companies that the bank had cultivated overtime -- began pulling out their deposits, creating a run on the bank.
"The statement (issued by the Department of the Treasury, Federal Reserve, and FDIC) is reassuring for Indian startups who had funds invested in SVB, and will address immediate financial issue they were grappling with," Nasscom's Gupta said.
An industry watcher said the last few days had been "stressful" for startups and companies who had exposure to SVB, and the US government's statement has signalled relief for those who were left in a lurch after desperate last-minute attempts to withdraw deposits were unsuccessful last week.
Of course, there will be a wait-and-watch on how long the entire process will take. That said, the 'energy levels' among such startups is certainly different since the US administration's assurances came in, sources said.
According to experts, companies will be much more vigilant and careful about how they park funds from here on, and may choose to distribute their deposits across multiple accounts and banks, to safeguard their money and mitigate risks.
Meanwhile, Gaurav VK Singhvi, Co-Founder at We Founder Circle, noted that over the years, SVB has been a reliable and go-to bank for many Indian SaaS (Software as a Service) and Y Combinator-backed startups owing to its versatility, adaptability and convenience of fundraising activities.
"... the news of its sudden collapse came as a surprise to many, forcing many startups to transfer their accounts to different banks, however, the jitters of its downfall will have a limited impact on Indian startups both directly and indirectly," Singhvi said.
"Wwe must also recognise that SVB's clients have been struggling for cash over the past year and with the restricted runway, the consequences could be hugely damaging if they do not withdraw their cash on time for payroll and other operational purposes", Singhvi added.
Established in 2020 in Mumbai, We Founder Circle (WFC) is a global community of founders and strategic angels that have come together to push the startup industry and steer it towards robust growth path.
WFC provides seed funding, business development, and global networking opportunities to startups as it believes early-stage ventures need a lot beyond just financial support to become scalable and stable. It has already enabled USD 20 million worth of investments across 100-plus startup deals since incorporation.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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Harbhajan Picks Chennai Super Kings' X-Factor In IPL 2023. It's Not Dhoni
Former India and Chennai Super Kings cricketer Harbhajan Singh feels that star all-rounder Ravindra Jadeja will be the X factor for the four-time champions in the upcoming edition of the Indian Premier League. Jadeja has made a successful return to top-flight cricket after spending several months away due to a knee surgery, playing a vital role in India's 2-1 win in the four-Test series against Australia in the Border-Gavaskar Trophy 2022-23. The veteran all-rounder will once again be playing a key role for CSK after a rocky season last year, when he was named the captain with the regular leader for many years, MS Dhoni, stepping down.
But the captaincy stint didn't go well for Jadeja, who has played for Chennai since 2012. The team lost six out of the first eight matches and Jadeja stepped down from the post, with Dhoni taking over the leadership role once again, which he will continue with in the 2023 IPL.
The IPL 2023 starts on March 31 with Chennai Super Kings slated to face the defending champions Gujarat Titans in the opening match.
Harbhajan told Star Sports, "The one person who everyone should keep an eye on is Ravindra Jadeja, especially how he bats for CSK. He may be promoted up the order plus he has his four overs. If you look at it from a world cricket perspective, I don't think there's a better all-rounder than him." "I'm looking forward to seeing Ravindra Jadeja in the IPL. The X factor for me will be Ravindra Jadeja because he has been very successful in these conditions as a bowler and a batsman, he's been playing there for so many years. So for me, he is definitely going to be the X factor for the side." The ex-India spinner, also a former player for CSK, said Dhoni remains the heart of the team.
"The biggest strength of this team is MS Dhoni. He is the heart of the team. He knows the team very well and he is probably the best person to get the most out of each player in the team." According to the spin great, the likes of Ben Stokes, Moeen Ali and Devon Conway and Maheesh Theekshana will play a vital role in their IPL 2023 season.
"Firstly I would select Ben Stokes, Moeen Ali ofcourse, Conway will definitely be in the side and Theekshana, before Pathirana because Theekshana will be more effective in Chennai. But if the match happens in a place like Mumbai, against Mumbai Indians, then I will select Pathirana because he bowls a lot like Malinga and spin doesn't play a big factor over there.
"If I have to select the four overseas players it would be Conway, Ben Stokes, Moeen Ali and Theekshana," he expressed.
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Sunday, 12 March 2023
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WPL: Mumbai Indians Beat UP Warriorz By 8 Wickets For Fourth Straight Win
Mumbai Indians dished out an all-round show as they sauntered to an eight-wicket win over UP Warriorz to record their fourth straight win in the Women's Premier League (WPL) in Mumbai on Sunday. Saika Ishaque (3/33) led Mumbai Indians' fightback with the ball to derail UP Warriorz, who looked set to register a competitive total after half-centuries from Alyssa Healy (58) and Tahlia McGrath (50). UP Warriorz slumped from 140 for 3 in the 17th over to finish at 159 for 6 after electing to bat, and with 160 to get, Mumbai Indians overhauled the target on the back of captain Harmanpreet Kaur's unbeaten 53 and Nat Sciver-Brunt's 45 not out, with Yastika Bhaita (42) playing a strong hand at the top.
Harmanpreet and Sciver-Brunt added an unbeaten 106 for the third wicket as Mumbai Indians reached 164 for 2 in 17.3 overs.
Bhatia took the initiative of scoring at the top, contributing heavily in her 58-run stand for the opening wicket with Hayley Matthews (12).
After a flurry of boundaries in the powerplay, Bhatia sent the ball flying over long-on off Rajeshwari Gayakwad in the seventh over. But on the next ball, she played straight to Simran Sheikh at deep midwicket, perishing for 42 off 27 balls with eight fours and a six.
There was drama in the fifth over when Sophie Ecclestone trapped Matthews leg-before and UP Warriorz were forced to take a DRS appeal successfully. The batter had a word with the umpire and the bowler, as it turned out that a different delivery was shown on the review.
Matthews' surprisingly slow innings, however, ended at 12 off 17 balls when she gave a simple return catch to Ecclestone.
Both Harmanpreet and Sciver-Brunt had luck on their side in the 11th over as they looked to rebuild. Anjali Sarvani bowled Harmanpreet around the legs, but the bails did not come off, and Sciver-Brunt did well to make the crease just in time to survive a direct hit from Sheikh at cover.
In the 14th over, Ecclestone failed to grab a tough chance at cover off Gayakwad to dismiss Sciver-Brunt on 22, and Harmanpreet added insult to injury by hitting consecutive fours.
Harmanpreet recorded her second fifty in WPL, hitting nine fours and one six to make 53 not out from 33 balls while Sciver-Brunt played yet another match-winning knock of 45 not out from 31 balls with six fours and one six.
Earlier in the first half, Ishaque claimed three wickets for 33 runs to help Mumbai Indians apply brakes on UP Warriorz charge.
Ishaque gave away 10 boundaries in her four-over spell, but she broke through at the top, dismissing Devika Vaidya early in the powerplay. She returned for her last in the 17th over, removing Healy and McGrath from the equation within one over to pull things back in Mumbai's control.
Ishaque took her wickets tally to 12 in just four WPL games so far, cementing her position as Mumbai Indians' go-to bowler when in need of breakthroughs.
Healy did the bulk of the scoring at the top, adding 50 runs for the second wicket with Kiran Navgire (17) and in the company of her compatriot Tahlia McGrath, the UP Warriorz captain added another 82 runs to lay the platform for a strong total.
Even though UP Warriorz formed vital partnerships in the middle, at no stage did they really launch an all-out attack against the Mumbai bowlers, who for the first time in four matches were pushed on the backfoot.
Both Healy and McGrath got their second half-centuries respectively of the tournament. The UP Warriorz captain, who made a match-winning 96 not out in the last match against Delhi Capitals, scored a 46-ball 58 with seven fours and a six.
On the other hand, the most impressive batter in the UP Warriorz ranks was McGrath, who pierced the field at will, rotated the strike with ease and played some superb strokes on the off-side with timing and precision.
The lanky Australia and UP Warriorz all-rounder finished at 50 from 37 balls, hitting nine fours in the process.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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