BJP MP and national spokesperson Sambit Patra (PTI)

NEW DELHI: BJP on Tuesday hit back at the Congress after the opposition accused the government of infringing on citizens’ privacy by directing smartphone makers to preload the Sanchar Saathi app on new devices.Taking a jibe at the Congress, BJP MP and national spokesperson Sambit Patra said, “I know who will delete it… ‘Chor ki daadhi mein tinka’ (a guilty conscience needs no accuser)”He also made a veiled reference to the National Herald case, in which Congress leaders Sonia Gandhi and Rahul Gandhi are accused. “You know very well who they are. An FIR has also been filed against them. They have swindled Rs 5,000 crore. At present, they are out on bail,” he told reporters at the BJP headquarters, as reported by PTI.Defending the app, Patra said it is designed to protect users from fraud and crime, not to monitor them, and emphasised that people are free to remove it from their phones if they do not wish to use it. “The app cannot read your messages. It cannot listen to your calls, incoming or outgoing. Sanchar Saathi cannot reach or breach your personal data.” He added that the app helps provide security, check fraud, track stolen mobile phones, and return them to their owners.Minister of communications Jyotiraditya Scindia also,clarified that the app will remain dormant unless users register on it, and can be deleted at any time.Congress has alleged that the directive reflects a “dictatorial” approach, calling Sanchar Saathi a “snooping app” and demanding that the move be withdrawn. Congress president Mallikarjun Kharge accused the government of trying to “strangulate the voice of the people”.Responding sharply, Patra said, “Mr Kharge, it is not meant to strangulate people’s voice but to secure their voice, and their mobile phones, without which life is difficult today. We need to secure the device. That is why the government has brought this app.”“You keep on spreading misinformation. But people know how to move on,” he added, as quoted by PTI.

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NEW DELHI: Parliament is set to hold key discussions on electoral reforms and the 150th anniversary of the national song, Vande Mataram, after lawmakers reached an agreement to resume proceedings smoothly following days of disruptions. Meanwhile, in Pakistan, former Prime Minister Imran Khan received a visit from his sister at Adiala Jail, breaking weeks of restricted access that had sparked protests by PTI supporters and family members.

Navy chief Admiral Dinesh K Tripathi announced the upcoming commissioning of the country’s third indigenous nuclear submarine and highlighted the Navy’s strategic role during Operation Sindoor, which pressured Pakistan’s naval forces to remain close to their ports.Here are the top 5 news stories of the day:

Lok Sabha to hold 10-hour debate on electoral reforms after breakthrough with opposition

The government and opposition reached an agreement to ensure smooth functioning of Parliament after two days of disruptions, clearing the way for a detailed 10-hour discussion on electoral reforms on December 9 and 10. The decision was finalised during a Business Advisory Committee meeting chaired by Speaker Om Birla, who also scheduled a debate on the 150th anniversary of Vande Mataram for December 8. Read full story

Pakistani authorities allow Imran Khan’s sister to meet him after weeks of restricted access

Authorities at Rawalpindi’s Adiala Jail allowed Imran Khan’s sister, Uzma Khanum, to meet the former Pakistan prime minister after several weeks of denied access that had fuelled protests by PTI supporters. PTI workers gathered outside the jail as family members demanded clarity on Imran’s health. The meeting followed weeks of blocked visits despite an Islamabad High Court order and growing tensions over alleged police assaults on Imran’s sisters during recent demonstrations. Read full story

Telecom minister clarifies Sanchar Saathi App is optional, not mandatory

Telecom minister Jyotiraditya Scindia clarified that the government’s Sanchar Saathi cybersecurity app is completely optional for users. Speaking outside Parliament, he said the app does not enable call monitoring or snooping, and users can choose to register, remain inactive, or delete it at any time. Read full story

Rahul Gandhi comments on the stray dog incident in Parliament, BJP hits back

Congress leader Rahul Gandhi weighed in on the controversy surrounding MP Renuka Chowdhury bringing a stray dog to Parliament, questioning why pets are allowed “inside” but not outside the complex. He said, “What has the poor dog done? I guess these are the things India is discussing these days,” as per PTI. The remarks drew criticism from the BJP, which accused Gandhi of likening leaders to dogs. Read full story

‘Forced Pak ships to stay in ports’: Navy chief highlights role in Operation Sindoor

Navy chief Admiral Dinesh K Tripathi announced that India’s third indigenously built nuclear-powered submarine will be commissioned soon. Speaking ahead of Navy Day, he said the Navy’s swift and aggressive action during counterterror Operation Sindoor forced Pakistan’s naval forces to stay close to their ports near the Makran coast. Read full story

Retail investors who chased Michael Saylor’s Bitcoin vision are now confronting heavy losses, as the turmoil around Strategy Inc.’s stock intensifies and leveraged products tied to it unwind sharply. The rout has erased gains built during the crypto mania and left funds tracking the company’s volatile bets struggling to retain assets. The developments were reported by Bloomberg.Strategy — once seen as a simple route to hold Bitcoin through a listed stock — has dived more than 60% from recent highs. The company said on Monday that it had created a $1.4 billion reserve to manage dividend and interest payouts, a step meant to ease concerns it might be forced to sell Bitcoin if prices fall further.Leveraged bets unravelFor many investors, that reassurance came too late. MSTX and MSTU, two funds offering double the daily return on Strategy’s stock, have each fallen more than 80% this year, placing them among the 10 worst performers in a US ETF universe of more than 4,700 products. A third fund, MSTP, launched in June, has dropped by a similar amount. Together, the trio has shed about $1.5 billion in assets since early October.Retail interest had originally surged when firms such as Defiance and Tuttle Capital Management rolled out these high-octane products to mirror one of Wall Street’s most visible Bitcoin-proxy trades.Strategy shares slid 34% in November. Bitcoin, down roughly 30% from its October peak, trades near $87,000, while the stock closed Monday 3.3% lower after falling as much as 12% during the day. Bitcoin advanced 0.5% as of 6.20am in London on Tuesday.“The recent pullback in Bitcoin has hit Strategy’s stock hard, and 2x leveraged plays like MSTX and MSTU turn that into even larger losses,” said Roxanna Islam, head of sector and industry research at ETF shop TMX VettaFi. “It’s a reminder that leveraged single-stock ETFs can look great on the way up, but can erase gains very quickly when the underlying trade goes the other way.”Defiance declined to comment. Tuttle Capital and GraniteShares, which is behind MSTP, did not immediately respond to requests for comment.Funding strain and index threatAt the centre of the market’s worries is mNAV, a metric comparing Strategy’s enterprise value with its Bitcoin holdings. The premium embedded in that ratio has largely evaporated, pulling it to about 1.15, a level executives have described as a caution zone. CEO Phong Le said on a podcast that slipping below 1.0 could force the firm to sell Bitcoin to meet payout obligations, though only as a last resort.The new reserve, financed through recent equity sales, covers at least 21 months of dividend and interest payments. But it has not quelled concerns over Strategy’s dependence on leverage, its reliance on retail flows, and the strain on its capital model.To keep buying Bitcoin, Strategy has repeatedly issued common stock — a move that dilutes existing shareholders. With its valuation premium narrowing, the company has shifted towards preferred shares and other costlier capital to sustain its crypto strategy.The ETF ecosystem linked to Strategy is also struggling. At least 15 products tied to the stock are currently trading, many down double digits this year. Combined assets for MSTX, MSTU and MSTP have fallen from more than $2.3 billion in early October to about $830 million, Bloomberg data show.The broader crypto slump — despite increased institutional participation and political support from the Trump White House — has dragged down miners, altcoins and firms with token-heavy treasuries. Leveraged ETFs, popular with at-home traders earlier this year, are among the hardest hit.These funds aim to deliver double Strategy’s daily move. In volatile markets, compounding returns — known as volatility decay — can steadily erode performance even if the underlying stock ends flat. When Strategy’s shares dropped and whipsawed, the ETFs amplified the losses.“Leveraged ETFs are generally a dangerous investment. A leveraged ETF on shares of a stock that levers up to buy a highly speculative asset is a risk profile of its own,” said Michael O’Rourke, chief market strategist at Jonestrading.Strategy may now face removal from key benchmarks. Analysts at JPMorgan warned that the stock could be excluded from indices such as the MSCI USA and the Nasdaq 100, a shift that could unleash billions in passive outflows. The reversal is striking for a firm once viewed as a potential S&P 500 entrant.

Temba Bavuma and Rohit Sharma (Image credit: Agencies)

NEW DELHI: South Africa captain Temba Bavuma believes that while playing against Virat Kohli and Rohit Sharma is not a new experience, their presence undeniably strengthens the Indian lineup. The experienced duo played key roles in India’s 17-run win in the opening ODI of the three-match series, with Kohli scoring his 52nd ODI century and Rohit contributing 57. The second ODI will be played on Wednesday.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!“The inclusion of those two guys that does bolster the team. Like we said at the start of the series, these are two guys who have a lot of experience and a lot of skill and that can only benefit the team. It is not something that we are not aware of,” Bavuma said during a press interaction before South Africa’s training session at the Shaheed Veer Narayan Stadium.

Reflecting on their longevity and stature in world cricket, Bavuma shared a personal memory, recalling Rohit Sharma’s rise as a young batter.“We played against, Rohit… I think it was in 2007, the T20 World Cup, I was still in school then. I mean, these guys have been around, so there is nothing new. These are world-class players,” he said.He added that facing such players is part of the sport and makes the contest more thrilling.“(Coming up against them is) nothing new, we have come across it. We have been on the bad end of it. But we have also had good times against them. It all just makes the series a lot more exciting.”Bavuma also addressed recent controversy around South Africa head coach Shukri Conrad’s use of the word “grovel,” saying the matter required no clarification.“No, I don’t think it is distracting (and) no it’s not for me to clarify,” he said.The Proteas skipper praised Marco Jansen for his brilliant 39-ball 70 in the first ODI.“From an all-rounder point of view, I don’t know where the rankings sit (but) I am sure Marco Jansen, in any one of the formats will definitely be in a top 10… He is only growing into his own and becoming a lot more comfortable under his skin.”Despite the defeat, Bavuma insisted there was little between the sides.“We were 15 runs (17) short of them… India played well, their two stalwarts stood up but we were not too far off.”Speaking about Test cricket, Bavuma expressed hope for longer, high-quality bilateral series.“All of us have been crying for more cricket especially against the top nations… Those are for, I guess, the people in suits, the Cricket South Africa.”With a smile, he added some players might want those longer series sooner rather than later.“Some of us are getting a little bit old, so we’re not going to go too long to make another four match Test series against India,” he said.

MUMBAI: The Economic Offences Wing of Mumbai police has registered an FIR of cheating against ALX shipping agencies, subsidiary of All cargo shipping and Dubai based Aladdin Express which is accused of persuading a investor Logistic company to invest with a promise of good returns but failed to pay. The firms also executed multiple business agreements to gain complainant’s trust and later violated these commitments, resulting in a financial loss of Rs 18.33 Cr to the complainant. The complaint was lodged by 45-year-old Vishal Mehta, Director of Rushabh Sealink and Logistics Pvt Ltd. Police registered an FIR of cheating, forgery and breach of trust and the EOW has taken over the probe. The alleged offence period spans from April 22, 2025, to the present, with the crime location listed as Art Guild House in Kurla (West).The FIR names Sandeep Bakshi, CEO of ALX Shipping Agencies India Pvt Ltd; Vikas Khan, Director of Aladdin Express DMCC; Ali Khan, CEO of Aladdin Express DMCC; and the companies ALX Shipping Agencies India Pvt Ltd and Aladdin Express DMCC as accused. The ALX shipping CEO Sandeep Bakshi responded to TOI saying the payments have been received in ALX India agency bank account and remitted to ALX DMCC Dubai Bank with 2 approvers one from ALX India and one from Allcargo finance team. “ I have been made scapegoat in this, I have only followed instructions of the directors and shareholders of ALX India/Alx DMCC. The cheque books were not in my custody. No amount has come into my personal account. All relevant emails and approvals from the Shareholders / directors of ALX India agency / ALX DMCC Dubai have been submitted with EOW.’’ Said Bakshi.All cargo took the financial decisions and was dealing with the Bankers, auditors and accounting with ALX DMCC finance persons. Mehta has alleged that Bakshi persuaded him in April 2025 to invest Rs10 crore in OEL Express India Pvt. Ltd., promising a fix profit on every assignment. Although the first investment cycle was returned, subsequent transactions allegedly resulted in large unpaid amounts. Mehta stated that only Rs1.5 crore was returned from a second Rs10 crore investment in OEL Express. He further invested Rs10 crore in ALX Shipping on Bakshi’s instructions, for which he was assured Rs12.10 crore in two months. The complaint says that Rs8.75 crore from this transaction remains unpaid.The complainant also alleged losses due to non-arrival of ships Leela Mombasa and Xinjinhai-2 after release orders were issued to his company. To prevent damage to perishable cargo, Mehta claims he transferred US$ 8,75,000 (Rs7.61 crore) to ALX Shipping to cover vessel fuel and freight dues. He was also promised US$ 1,25,000 (Rs1.08 crore) as profit from a voyage, which he says was not paid.Mehta further reported an additional Rs88 lakh loss after ALX allegedly withdrew a release order for 302 containers, forcing him to ship consignments through another vessel. The case involves both domestic and foreign companies, and investigators are now tracing the financial trail to determine whether funds were transferred abroad and, if so, to which entities and accounts. More individuals are likely to come under scrutiny as the probe progresses.Bakshi has also filed an application with EOW against ALX and All cargo for having cheated him and were aware of all the wrong doing, but made him a scapegoat.