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Rishi Sunak, Narayan Murthy’s Son-In-Law, Replaces Sajid Javid As UK’s Chancellor Of Exchequer

Rishi, who was previously chief secretary to the Treasury, will become chancellor after Javid’s shock resignation.

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LONDON (United Kingdom): Rishi Sunak has been appointed Chancellor of the Exchequer – the UK’s finance minister – in succession to Sajid Javid, who resigned on a point of principle on Thursday, 13 February, after being ordered to sack his closest advisers.

Sunak, 39, has been the Conservative MP for Richmond in North Yorkshire since 2015 when he was selected for the safe seat in succession to former Foreign Secretary William Hague.

His rise from backbencher to Chancellor – the second most important position in the government – in less than five years is nothing short of meteoric.


The Prime Minister, Boris Johnson, has promoted him from Chief Secretary to the Treasury, a role he was given in July 2019.

Prior to that, he was the parliamentary under-secretary for housing, communities and local government under Theresa May.

Sunak, like Johnson, campaigned for leave during the Brexit referendum campaign in 2016 and voted three times for Theresa May’s deal.


He was an “early adopter” of the Boris Johnson project when the former Foreign Secretary launched his leadership bid in the spring of last year.

Who is Rishi Sunak?

Married with two daughters, Rishi Sunak has been named Chancellor after a meteoric rise in the Tory party

MP for Richmond in Yorkshire since 2015, Sunak is the son of Yashvir, an NHS GP, and Usha, a pharmacist, who moved to the UK from Punjab, India in the 1960s.

Born in 1980 in Southampton, Hampshire, he attended the prestigious Winchester College before going on to study Politics, Philosophy and Economics at Oxford University.

He also earned an MBA from Stanford University in the US, becoming a Fulbright scholar.


Before entering politics he worked for investment bank Goldman Sachs and a hedge fund, then co-founded an investment firm.

Seen as a rising star in the Conservative Party, he has been touted for the top since first arriving in Parliament five years ago.

However, at the age of 39, he misses out on being the youngest chancellor of the past century by just a single year – George Osborne was 38 when he took charge of the Treasury in 2010.

And before his rise to Chancellor, Tory officials saw he was the “perfect fit” for Johnson’s new Cabinet.

During the Brexit campaign, he voted to leave the EU but kept a relatively low profile during the 2016 referendum and voted for Theresa May’s Brexit deal on all three occasions.

In July 2019, Mr Johnson picked by Mr Johnson to be the chief secretary to the Treasury, after he had served as parliamentary under-secretary in the Ministry of Housing, Communities and Local Government from January 2018 to July 2019.

In 2009, he married Akshata Murthy, the daughter of Indian billionaire Nagavara Ramarao Narayana Murthy, who co-founded business consulting firm Infosys.

The couple has two daughters together.

Sunak is a cricket and football enthusiast and also a Bollywood movie fan.


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ECONOMY-DEVELOPMENT

BANNED: 59 Chinese Mobile Apps That Threaten India’s Sovereignty And Integrity

There have been acute concerns relating to data security and safeguarding the privacy of Indians.

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NEW DELHI: The government of India on Monday announced the ban of 59 Chinese apps in the country. A day later one of the most popular short video applications TikTok has been taken down from Apple App Store and also Google Play Store. The government has called the decision “a targeted move to ensure safety and sovereignty of Indian cyberspace & to safeguard interests of crores of Indian mobile/internet users“.

Also Read:
(1) TikTok Underlines Need For Data Protection Bill
(2) Zoom App IS NOT SAFE: Amit Shah-Headed MHA Issues Advisory For Users

Courtesy: PIB, GoI

Electronics and IT Ministry said in a release that these apps were banned in view of the information available they are engaged in activities which are prejudicial to sovereignty and integrity of the country, defence of the country and security of a state and public order.


Geopolitics and international relations (IR) experts believe that the move is an exercise of coercive diplomacy that has, as the starting point, opted for a low-denomination item — mobile app — that has a limited impact on Indian businesses but one that has a disproportionately large presence in the mass consumer segment.

Two months ago, in April, the Department for Promotion of Industry and Internal Trade, made it mandatory for foreign direct investment from neighbouring countries to take prior government approval.

This was also aimed at curbing opportunistic takeovers/ acquisitions of Indian companies during times of the Covid-19 pandemic, when valuations were at new lows.


Over the last few years, India has emerged as a leading innovator when it comes to technological advancements and a primary market in the digital space.

At the same time, there have been raging concerns on aspects relating to data security and safeguarding the privacy of 130 crore Indians. It has been noted recently that such concerns also pose a threat to sovereignty and security of the country.

The Ministry of Information Technology has received many complaints from various sources including several reports about the misuse of some mobile apps available on Android and iOS platforms for stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India.

The compilation of these data, its mining and profiling by elements hostile to national security and defence of India, which ultimately impinges upon the sovereignty and integrity of India, is a matter of very deep and immediate concern which requires emergency measures.

The Indian Cyber Crime Coordination Centre, Ministry of Home Affairs has also sent an exhaustive recommendation for blocking these malicious apps.


This Ministry has also received many representations raising concerns from citizens regarding security of data and risk to privacy relating to the operation of certain apps.

The Computer Emergency Response Team (CERT-IN) has also received many representations from citizens regarding the security of data and breach of privacy impacting upon public order issues.

Likewise, there have been similar bipartisan concerns, flagged by various public representatives, both outside and inside the Parliament of India.

There has been a strong chorus in the public space to take strict action against Apps that harm India’s sovereignty as well as the privacy of our citizens.

On the basis of these and upon receiving recent credible inputs that such Apps pose threat to sovereignty and integrity of India, the government has decided to disallow the usage of certain Apps, used in both mobile and non-mobile Internet-enabled devices.

The Scale/Impact:

TikTok had nearly 119 million active users in India and was among the top 10 apps on Google Play Store and Apple App Store. Users who still have the TikTok app on their mobile phone can still be able to use it, however, the app can’t be downloaded anymore. Most other Chinese apps banned in India are still available for download.

It must be noted that if you have the app installed on your phone you will still be able to see it on Google Play store. Once you uninstall it the TikTok app will not be visible.

For users who have the TikTok app download can still use the app and post videos but officially the platform is now banned in the country.


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INTERNATIONAL

4 Gunmen Attack Pakistan Stock Exchange Building In Karachi

All four attackers who attempted to storm the Stock Exchange compound in Karachi killed.

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KARACHI (Pakistan): At least four gunmen attacked the Pakistan Stock Exchange (PSX) building in Karachi on Monday. As per reports, two citizens were killed while three others left injured in the terror attack.  The terrorists launched a grenade attack at the main gate and entered the building after opening indiscriminate firing, reported Geo News.

Initial reports said that four terrorists, a little before 10 am, came out of their vehicle and threw grenades after which they entered the compound and opened fire. At least two civilians have been so far reported dead while multiple injuries have been confirmed.

Police surgeon Dr Qarar Ahmed Abbasi said that five bodies and seven injured, including policemen, have been brought at the Dr Ruth Pfau Civil Hospital Karachi.


PSX Managing Director Farrukh Khan termed the attack as “serious and unfortunate”. While speaking to Geo News, he said the number of people in the compound was lesser than normal due to the Covid-19 situation.

He said that the terrorists had been intercepted outside the entrance and only one of them had entered the compound. None of them entered the trading hall or the building.

The building is in a high-security zone and also houses the head offices of many private banks.


A police officer and a security guard stationed outside the building were among those wounded.

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COVID19

COVID-19 Worldwide: 1,00,00,000 Cases And Mounting

Brazil and the U.S. together represent 49% of the newly reported cases globally.

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GENEVA (Switzerland): In a ghastly reminder to administrations across the world that the COVID-19 pandemic is nowhere near running its course, the deaths from the coronavirus worldwide topped 500,000 and infections surged past one crore.

A tally compiled by Johns Hopkins University registered the milestone on June 28, after India and Russia added thousands of new cases. The United States has confirmed more than 25 lakh infections, the most in the world.

The global number of reported coronavirus fatalities stands at 500,108, according to figures gathered by Johns Hopkins University in the United States. Meanwhile, the total number of infections worldwide stands at 10,063,319.


Worryingly, Hopkins reports only confirmed coronavirus cases, which many healthcare experts believe could be just about the 10th of the total people infected by the virus. The belief stems from the argument that lakhs and lakhs of people worldwide either do not have means to get tested or are not getting tested because they don’t carry any symptoms.

Though faring better than the world in almost all parameters in its fight against the pandemic, India stands at third position with cases surpassing 5.5 lakh. Prime Minister Narendra Modi said his country must focus on bolstering the economy while exiting lockdown.

On June 28, India reported additional 19,906 confirmed cases, taking its total to nearly 529,000 with 16,095 deaths.

The World Health Organization reported almost 190,000 new cases for the 24-hour period through early Sunday, after Director-General Tedros Adhanom Ghebreyesus said this month that the pandemic has entered “a new and dangerous phase.”


The global epicentre of the coronavirus is continuing to shift. First, it was China, then Europe, and now developing countries with weaker health-care systems like Brazil and India are reeling.

The U.S. and Brazil together represent 49% of all new infections, according to the WHO’s data for the latest 24 hours. Cases from the Americas account for 62% of the 189,077 new infections, followed by 13% from Southeast Asia and 8.8% from Europe.

The country with the second-highest number of recorded cases is Brazil, with a total of 13 lakh, and more than 57 thousand deaths.

Russia reported 6 lakh 633 thousand 542 cases and more than nine thousand deaths so far.

Meanwhile, China has imposed a strict lockdown near Beijing to curb a fresh outbreak. Nearly half a million people will be barred from travelling in and out of Anxin county in the province of Hebei


The first cases of the new coronavirus were confirmed on Jan 10 in Wuhan in China, before infections and fatalities surged in Europe, then the United States, and later Russia.

The total number of cases continued to increase at a rate of between 1-2 per cent a day in the past week, down from rates above 10 per cent in March.

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