Bizarre weather patterns: Green sky in Dubai, orange in Greece and floods in Russia — Check images

The world in recent times has witnessed a series of catastrophic natural disasters and weather patterns that were rarely witnessed earlier. From unprecedented rains in Dubai, to skies turning orange in Greece following a dust storm and Mount Ruang erupting in Indonesia. These bizarre weather patterns have left many puzzled. Here’s a look at some of the recent weather issues from around the world. (Image: Reuters)
1. Heavy rains in UAE inundated rains | Last week, major cities in the UAE were inundated following heavy rains after they received a year’s rain in a single day. The country recorded 6.04 billion cubic metres of rainwater in just 24 hours as against the 6.7 billion cubic metres it receives annually on average. This incident led to flooded streets and runways, which further  and caused flight cancellations and disruption in public transport services. The government has reportedly approved a fund of Dh2 billion to help citizens repair their homes damaged in the unprecedented rains and subsequent floods.
1. Heavy rains in UAE inundated rains | Last week, major cities in the UAE were inundated following heavy rains after they received a year’s rain in a single day. The country recorded 6.04 billion cubic metres of rainwater in just 24 hours as against the 6.7 billion cubic metres it receives annually on average. This incident led to flooded streets and runways, which further  and caused flight cancellations and disruption in public transport services. The government has reportedly approved a fund of Dh2 billion to help citizens repair their homes damaged in the unprecedented rains and subsequent floods.
2. Orange skies in Greece | On Tuesday, strong winds carrying dust from the Sahara Desert turned sky apocalyptic "orange" over major Greek cities, including Athens. This happened after days of strong winds from the south. The haze limited visibility in the region, prompting warnings from the authorities of breathing risks. Earlier, Greece was struck by Sahara dust clouds in late March and early April. It also smothered parts of Switzerland and the southern cities of France.
2. Orange skies in Greece | On Tuesday, strong winds carrying dust from the Sahara Desert turned sky apocalyptic “orange” over major Greek cities, including Athens. This happened after days of strong winds from the south. The haze limited visibility in the region, prompting warnings from the authorities of breathing risks. Earlier, Greece was struck by Sahara dust clouds in late March and early April. It also smothered parts of Switzerland and the southern cities of France. (Image: Reuters)
3. Mount Ruang eruption | Authorities in Indonesia issued a tsunami alert last week after multiple eruptions of the Ruang mountain volcano, propelling ash and lava thousands of feet into the sky. According to local authorities, this incident prompted the evacuation of more than 11,000 individuals who were residing in nearby areas. As per reports, Ruang’s eruptions sent some volcanic gases above 65,000 feet into the air, which is around 25,000 feet higher than the position where a commercial aeroplane typically flies. (Image: Reuters)
3. Mount Ruang eruption | Although not a weather pattern, but authorities in Indonesia issued a tsunami alert last week after multiple eruptions of the Ruang mountain volcano, propelling ash and lava thousands of feet into the sky. According to local authorities, this incident prompted the evacuation of more than 11,000 individuals who were residing in nearby areas. As per reports, Ruang’s eruptions sent some volcanic gases above 65,000 feet into the air, which is around 25,000 feet higher than the position where a commercial aeroplane typically flies. (Image: Reuters)
4. Floods in Russia and KazakhstanRecently, the Urals region of Russia and northern Kazakhstan have suffered the worst flooding in living memory, as hundreds of thousands of people have been evacuated in the region after rivers broke through dams and flooded cities. The floods have also resulted in disruptions at the oil refineries and natural gas wells in Russia. The fast-melting snow accompanied by heavy rains has swollen several large rivers in Asia and Europe.
4. Floods in Russia and Kazakhstan | Recently, the Urals region of Russia and northern Kazakhstan have suffered the worst flooding in living memory, as hundreds of thousands of people have been evacuated in the region after rivers broke through dams and flooded cities. The floods have also resulted in disruptions at the oil refineries and natural gas wells in Russia. The fast-melting snow accompanied by heavy rains has swollen several large rivers in Asia and Europe. (Image: Reuters)
5. China floods | Heavy rains, going on for the past few days have lashed southern China, unleashing deadly floods as rescuers rushed to evacuate those trapped by rising waters. The Guangdong province, which is home to nearly 127 million people, has in recent weeks witnessed widespread flooding, forcing more than 110,000 people to be relocated, local media reported. At least four people have been killed in Guangdong, while a few others remain missing.
5. China floods | Heavy rains, going on for the past few days have lashed southern China, unleashing deadly floods as rescuers rushed to evacuate those trapped by rising waters. The Guangdong province, which is home to nearly 127 million people, has in recent weeks witnessed widespread flooding, forcing more than 110,000 people to be relocated, local media reported. At least four people have been killed in Guangdong, while a few others remain missing. (Image: Reuters)
 5 Minutes Read

In China, US Secretary of State Blinken raises concerns over trade policies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Washington and Beijing have been increasingly at loggerheads over how American companies operate in China, Chinese exports and manufacturing capacity, and strains are also growing over Beijing’s support for Russia in its war in Ukraine, as per Reuters.

US Secretary of State Antony Blinken on Thursday called on China to provide a level playing field for American businesses as he began a visit aimed at resolving a raft of contentious issues that could jeopardise the newly repaired relationship.

Blinken‘s trip is the latest high-level contact between the two nations that, along with working groups on issues from global trade to military communication, have tempered the public acrimony that drove relations to historic lows early last year.

But Washington and Beijing have been increasingly at odds over how American companies operate in China, Chinese exports and manufacturing capacity, and strains are also growing over Beijing’s backing of Russia in its war in Ukraine.

State Department spokesperson Matthew Miller said that at a meeting with China’s top official in Shanghai, Chen Jining, Blinken raised concerns about China’s “trade policies and non-market economic practices.”

Blinken also “stressed that the United States seeks a healthy economic competition with the PRC and a level playing field for US workers and firms operating in China.”

The PRC, or People’s Republic of China, is the country’s official name.

Responding to the comments later in the day, the spokesperson for the Ministry of Foreign Affairs, Wang Wenbin, told a regular media conference that “China has always been carrying out economic and trade cooperation in accordance with the principles of the market.”

“We hope that the US side will respect the principle of fair competition, abide by WTO rules and work with China to create favourable conditions for the sound and steady development of China-US economic and trade relations,” said Wang.

While in Shanghai, Blinken also spoke with business leaders, as well as American and Chinese students at New York University’s local campus, where he said intercultural interactions were “the best way to make sure that we start by hopefully understanding one another”.

Support for Russia

Blinken will head to Beijing on Friday for talks with his counterpart, Foreign Minister Wang Yi, and possibly President Xi Jinping. Those meetings could be fraught.

Just as Blinken landed in Shanghai, President Joe Biden signed a rare bipartisan bill that included $8 billion to counter China’s military might, as well as billions in defence aid for Taiwan and $61 billion in aid to Ukraine.

Biden also signed a separate bill tied to the aid legislation that bans TikTok in the US if its owner, the Chinese tech firm ByteDance, fails to divest the popular short video app over the next nine months to a year.

Blinken will press China to stop its firms from retooling and resupplying Russia’s defence industrial base. Moscow invaded Ukraine days after agreeing a “no limits” partnership with Beijing, and while China has steered clear of providing arms, US officials warn Chinese companies are sending dual-use technology that helps Russia’s war effort.

Without providing details, a senior State Department official told reporters that Washington was prepared to “take steps” against Chinese firms it believes are damaging US and European security.

State-run China Daily said in an editorial that there was “a huge question mark over what the discussions between Blinken and his hosts can yield” and that both sides “have been largely talking past each other.””On the conflict in Ukraine, the world can see it clearly that the Ukraine issue is not an issue between China and the US, and the US side should not turn it into one,” it said.

Other state media also highlighted the tensions over the differences. “Plenty of animosity remains, primarily fuelled by Washington’s adherence to a zero-sum mindset and framing China as a threat,” a commentary in state-run Xinhua news agency said.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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nifty bank ₹1,318.95 -1.95

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A top Russian military official reportedly linked to Ukraine’s Mariupol arrested for bribe-taking

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Timur Ivanov, 48, one of Russia’s 12 deputy defense ministers, was sanctioned by both the United States and the European Union in 2022, after Russia invaded Ukraine.

A top Russian military official was arrested on suspicion of accepting a bribe, authorities said Tuesday, a high-profile arrest that comes as Moscow’s war in Ukraine is in its third year.

Timur Ivanov, 48, one of Russia’s 12 deputy defense ministers, was sanctioned by both the United States and the European Union in 2022, after Russia invaded Ukraine.

Russia’s state news agency RIA Novosti quoted Kremlin spokesman Dmitry Peskov as saying that both President Vladimir Putin and Defense Minister Sergei Shoigu were informed about the arrest.

The Investigative Committee, Russia’s top law enforcement agency, reported Ivanov’s detention without offering any details of the accusations against him, saying only that he is suspected of taking an especially large bribe — a criminal offense punishable by up to 15 years in prison.

According to the defense ministry’s website, Ivanov was appointed to the post in 2016 by a presidential decree and oversaw property management, housing and medical support for the military, construction and reconstruction of facilities.

Russian media claimed that he was in charge, among other things, of some of the construction in Mariupol — a port city in Ukraine’s partially occupied Donestk region which was heavily bombarded and occupied by Russian forces early on in the war in 2022.

Zvezda, the official TV channel of the Russian military, reported in the summer of 2022 that the ministry “is building an entire residential block” in the severely damaged city and showed Ivanov inspecting construction sites.

That same year, the team of late Alexei Navalny, Russia’s most prominent opposition leader and anti-corruption campaigner, alleged that Ivanov and his family had been living an extravagant life full of luxurious trips abroad, lavish parties and elite real estate.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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World military spend climbs to $2.4 trillion in 2023: India takes 4th spot — Check top-10 list

The total global military expenditure in 2023 witnessed a 6.8% surge compared to 2022, which is the highest year-on-year increase since 2009. In dollar terms, countries spent as much as $2.4 trillion, which is much more than the total GDP of some countries. (Image: PTI)
Jammu: Army soldiers stand guard near the Line of Control (LoC), ahead of Independence Day, at Akhnoor sector in Jammu, Sunday, Aug. 13, 2023. (PTI Photo)(PTI08_13_2023_000189B)
The top 10 countries splurged a whopping $1.7 trillion on their armies in 2023, according to latest data provided by the Stockholm International Peace Research Institute (SIPRI). (Image: PTI)
It’s not surprising that the US is the number one country on the list of countries that spent the most money on upgrading their defence forces. Let’s take a look at the top-10 countries with the highest military spending in 2023.
(Image: Reuters)
No 10. Japan: The Asian country’s total military expenditure of 2023 amounts to $50.2 billion (approx Rs 4.1 lakh crores). Compared to the figures of 2022, Japan witnessed an increase of around 11 per cent in its military expenses.
No 10. Japan | Total military expenditure: $50.2 billion | The Asian country’s total military expenditure in 2023 amounts to $50.2 billion (approx Rs 4.1 lakh crore). Compared to the figures of 2022, Japan’s military spend witnessed an increase of around 11%. (Image: Reuters)
No 9. France: The total military expenditure of France amounted to $61.3 billion (approx Rs 5.1 lakh crores) in 2023. The European nation witnessed an increase of 6.5 per cent as compared to the expenses of 2022. (Image: Reuters)
No 9. France | Total military expenditure: $61.3 billion | The total military expenditure of France amounted to $61.3 in 2023. The European nation witnessed an increase of 6.5% compared to military expenses in 2022. (Image: Reuters)
No 8. Ukraine | Total military expenditure: $64.8 billion | Following two years of war with neighbouring Russia, the military expenses of Ukraine increased by a massive 51%. The country’s total military expenditure of 2023 amounted to $64.8 billion.
No 8. Ukraine | Total military expenditure: $64.8 billion | Following two years of war with neighbouring Russia, the military expenses of Ukraine increased by a massive 51%. The country’s total military expenditure of 2023 amounted to $64.8 billion. (Image: Reuters)
No 7. Germany | Total military expenditure: $66.8 billion | In 2023, Germany spent a whopping $66.8 billion on its armed forces. Compared to figures of 2022, the military expenditure of the European nation increased by 9%.
No 7. Germany | Total military expenditure: $66.8 billion | In 2023, Germany spent a whopping $66.8 billion on its armed forces. Compared to figures of 2022, the military expenditure of the European nation increased by 9%. (Image: Reuters)
No 6. United Kingdom | Total military expenditure: $74.9 billion | The United Kingdom spent $74.9 billion on its military in 2023. It recorded a surge of 7.9% compared to 2022. (Image: Reuters)
No 6. United Kingdom | Total military expenditure: $74.9 billion | The United Kingdom spent $74.9 billion on its military in 2023. It recorded a surge of 7.9% compared to 2022. (Image: Reuters)
No 5. Saudi Arabia | Total military expenditure: $50.2 billion | Saudi Arabia has emerged among the top five spenders with an expenditure of $75.8 billion (approx Rs 6.3 lakh crores). The country witnessed an increase of 4.3 per cent compared to 2022.
No 5. Saudi Arabia | Total military expenditure: $75.8 billion | Saudi Arabia has emerged among the top five spenders with an expenditure of $75.8 billion. The country witnessed an increase of 4.3 per cent compared to 2022. (Image: Reuters)
No 4. India | Total military expenditure: $50.2 billion |With some very sensitive borders, the country holds the fourth most powerful army in the world. India’s military expenditure rose by 4.2 per cent to $83.6 billion (approx Rs 6.9 lakh crores).
No 4. India | Total military expenditure: $83.6 billion | With some very sensitive borders, the country holds the fourth most powerful army in the world. India’s military expenditure rose by 4.2% to $83.6 billion. (Image: Reuters)
No 3. Russia | Total military expenditure: $109 billion | Amid the increasing tensions with Ukraine, the country has spent $109 billion (approx Rs 9 lakh crores) on its armed forces. The spending increased by a whopping 24 per cent compared to 2022. (AP Photo)
No 2. China | Total military expenditure: $260 billion | The country with the third most powerful army ranks second in the list of highest military expenses with a spending of $296 billion (approx Rs 24 lakh crores). Compared to 2022, China’s military expenditures increased by 6 per cent. (Image: Reuters)
US warship sails through Taiwan Strait following China war games
No 1. United States | Total military expenditure: $916 billion | The United States of America stands at the top of the list with a spending of $916 billion. The spending increased by 2.3 per cent as compared to what they spent in 2022. (Image: Reuters)
 5 Minutes Read

Global military expenditure touched an all-time high of $2.4 trillion in 2023: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

News agency AFP quoted a senior researcher at Stockholm International Peace Research Institute (SIPRI), Nan Tian as saying that for the first since since 2009, military spending rose across all five geographical regions.

Global military expenditure in 2023 witnessed its steepest increase in more than a decade, touching an all-time high of $2.4 trillion, as per a new report by the Stockholm International Peace Research Institute (SIPRI), news agency AFP reported.

This was fuelled by the wars and rising global tensions. The report stated that military spending in Europe, Asia and Middle East witnessed a particularly large increase.

AFP quoted a senior researcher at SIPRI, Nan Tian as saying that for the first since since 2009, military spending rose across all five geographical regions.

The report stated that military spending increased by 6.8% in 2023, its steepest year-on-year increase since 2009, AFP reported.

Tian told the news agency that the increased military spending was a reflection of the deteriorating peace and security across the world.

The top five spenders were the United States, China, Russia, India and Saudi Arabia, AFP reported citing the report.

Tian said the continuation of the Ukraine war led to a rise in military spending in Russia and Ukraine and many of the European countries. As per SIPRI’s estimates, Russia’s spending increased by 24% in 2023, reaching $109 billion.

Ever since Russia annexed Ukraine’s Crimea in 2014, its military spending has increased by 57%.

On the other hand, Ukraine’s military spending increased by 51% to $64.8 billion. However, it also got military aid of $35 billion, majority of which came from the US. As per this, the combined spending and aid equalled over nine tenths of the spendings of Russia.

Tian told AFP that even though Russia and Ukraine’s overall budgets were more or less close in 2023, Kyiv’s military spending was 37% of its GDP and 50% of the entire government spending. On the other hand, Russia’s military spending equalled to 5.9% of its GDP. Tian added that Ukraine does not have as much room to increase its spending.

In Europe, Poland witnessed its largest increase in spending so far, increasing 75% to $31.6 billion, as per the report.

Military spending also increased across the Middle East, where Israel, which the second-largest spender in the region, witnesseda 24% increase in its expenditure to $27.5 billion last year. This was primarily driven by its offensive in Gaza.

Meanwhile, the Middle East’s largest spender Saudi Arabia, also increased its spending by 4.3% to around $75.8 billion, the report stated.

The US, which spends the most on its military compared to other nations, increased its expenditure by 2.3% to $916 billion, as per the report. China’s military spending expanded for the 29th consecutive year by another 6% to around $296 billion.

Japan and Taiwan both upped their military expenditures by 11% each to %50.2 billion and $16.6 billion, respectively, in 2023.

India, which is the fourth largest spender in the world, increased its spending to $83.6 billion in 2023, a 4.3% rise in expenditure.

Increase in spending in the Caribbean and Central America were driven by struggles such as fighting organised crime. The Domincian Republic increased its expenditure by 14%, responding to the worsening gang violence in Haiti spilling over the border.

Africa also witnessed an increase in its military budgets. The Democratic Republic of Congo’s spending more than doubled by 105% to $794 million, the largest increase by any nation percentage-wise, as tensions increased in neighbouring Rwanda.

South Sudan witnessed the second-largest increase of 78% to $1.1 billion.

Tian told AFP that the expectation is that the increasing military expenditure trend is likely to continue for a few years.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Russia considers removing Taliban from terrorist list, fostering stronger ties

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

In 1999, the UN security council adopted resolution 1267, in which the Taliban was found responsible for “the provision of sanctuary and training for international terrorists”. A few months later, Vladimir Putin signed a decree implementing the UN resolution and imposing sanctions against the Taliban.

Russia is currently considering taking the Taliban off its list of terrorist organisations, officials have indicated.

While no final decision has yet been taken, one sign of their increasingly cordial relationship is the Taliban’s invitation to an international economic forum being held in Kazan, Russia, in May. The Kremlin has opened up discussions with the Taliban before, and Russia was one of the few nations to accredit a diplomat when the organisation took control of Afghanistan.

But Afghanistan’s political and economic crisis and western sanctions on Russia due to the Ukraine war mean both sides have something to gain from a stronger relationship.

In 1999, the UN security council adopted resolution 1267, in which the Taliban was found responsible for “the provision of sanctuary and training for international terrorists”. A few months later, Vladimir Putin signed a decree implementing the UN resolution and imposing sanctions against the Taliban.

In 2003, the Russian supreme court recognised the Taliban movement as a terrorist organisation, saying it maintained links with illegal armed forces in Chechnya and tried to seize power in Uzbekistan, Tajikistan and Kyrgyzstan.

Russia launched a regional initiative in 2017 to negotiate between the Kabul government and the Taliban as an effort to create a peacemaker role for itself.

These negotiations were aimed at offering solutions to the Afghanistan crisis, and were usually held with the participation of China, Iran, Pakistan and central Asian republics. Russia continued to maintain contact with the Taliban, despite labelling them a terrorist group.

Interests and goals

Since taking over control of Afghanistan, no foreign states have recognised the Taliban government. There are few signs yet that many are close to doing so, partly because of the Taliban’s continuing erosion of women’s rights and recognition of human rights more generally.

The Taliban wants international sanctions to be withdrawn, to take Afghanistan’s UN seat and for frozen assets to be released, which will help the country’s economic development.

Afghanistan should benefit economically from developing the important Lapis-Lazuli trade corridor which links Afghanistan to Istanbul and Europe, and the Uzbekistan–Afghanistan–Pakistan railway line, if international sanctions are withdrawn. Russia taking the Taliban off their terrorism list would be a first step toward international recognition for the current Afghan government.

Russia also benefits from its cooperation with the Taliban. It aims to present itself as the region’s security provider, especially compared to the US’s failure to create stability in Afghanistan. Moscow considers central Asia a zone of historical interest (the Soviet Union was involved in an armed conflict within Afghanistan from 1979-89).

It is also concerned about the stability of the region, drug trafficking and threats from Islamist terrorism, especially after the recent Isis-K attack on the Crocus City Hall, Moscow.

To increase its geoeconomic and geopolitical presence in the region, Russia can use the alliances it has already built – the Collective Security Treaty Organisation (a military alliance with Armenia Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan, formed in 2002) and the Eurasian Economic Union (an economic union of five post-Soviet states). Russia’s 2023 foreign policy plan mentions prospects for Afghanistan’s integration into “the Eurasian space for cooperation”.

Russia’s relationship building

The increasing cooperation between the Taliban and Russia has implications in terms of the ongoing rivalry between Russia and the west. Since the beginning of the Ukraine war, Moscow has tried to get other nations to support its strategic view of why the war is happening.

This version of history and policy positions Russia as a protector of traditional religions and values and places it among major world civilisations, contrasting it with the “godless” west. It also details the right of civilisations to exist and develop within their own values, something that should appeal to the Taliban, and that Russia presents as a contrast to the west.

In 2022, Putin said: “Real democracy in a multipolar world is primarily about the ability of […] any civilisation to follow its own path and organise its own socio-political system. If the United States or the EU countries enjoy this right, then the countries of Asia, the Islamic states, the monarchies of the Persian Gulf […] certainly have this right as well.”

These ideas are popular in the Muslim world because they promise an alternative non-western order and recognise Islamic values as equal and fundamental, with no need to conform to the western interpretations of right and wrong.

The potential rapprochement with the Taliban is a sign to the Islamic world in particular, that, unlike the US, Russia is an ally that will not interfere in another country’s internal affairs or dictate its values.

Economically, and politically, the Taliban needs to cooperate with Moscow, but this doesn’t mean the Taliban trust Russian officials and their official line, or that they have forgotten the Soviet military campaign in Afghanistan. For now, having Moscow as an ally is extremely useful.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Russia builds new Asia trade routes to weaken sanctions over war

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The shipping and rail networks via Iran and an Arctic sea passage could strengthen Moscow’s pivot toward Asian powerhouses China and India and away from Europe. They have potential to embed Russia at the heart of much of international trade even as the US and its allies are trying to isolate President Vladimir Putin over the war.

Russia is pressing ahead with construction of two new transport corridors linking Asia and Europe, seeking to weaken sanctions over its war in Ukraine at the same time as Middle East turmoil is disrupting global trade.

The shipping and rail networks via Iran and an Arctic sea passage could strengthen Moscow’s pivot toward Asian powerhouses China and India and away from Europe. They have potential to embed Russia at the heart of much of international trade even as the US and its allies are trying to isolate President Vladimir Putin over the war.

The routes could cut 30%-50% off transit times compared to the Suez Canal and avoid security problems plaguing the Red Sea as Houthi rebels attack international shipping over Israel’s war against Hamas in Gaza. Iran’s missile and drone strikes aimed at Israel have added to the regional turbulence.

While the US and its Western allies are shunning the Russia-backed routes despite potential cost savings, major Asian and Gulf economies have shown interest.

Still, significant hurdles remain.

Outdated Iranian infrastructure is holding up development of the International North South Transportation Corridor connecting India to the European part of Russia. And even as accelerating climate change melts Arctic ice to make the Northern Sea Route, or NSR, a more viable option, formidable logistical challenges remain along Russia’s remote coastline.

Russia is preparing to invest more than $25 billion to upgrade the route via Iran and improve facilities along the Russian Arctic shoreline, including a fleet of domestically manufactured ice-breakers. It also plans to patrol the NSR route with a network of drone bases, Izvestia newspaper reported, citing an unidentified Defense Ministry official.

Russia issued a 1.3 billion euro ($1.4 billion) loan to Iran last May to build a vital missing rail link that will stretch 162 kilometers (101 miles) to connect the city of Rasht along the Caspian Sea coast to Astara on the border with Azerbaijan. Once completed, the railway will allow cargo supplies from St. Petersburg to Bandar Abbas, Iran’s main export port on the Persian Gulf.

“Its construction will allow us to create direct and uninterrupted railway transportation along the entire length of the North-South route,” Putin said during a videoconference with Iranian counterpart Ebrahim Raisi. “This will help considerably diversify global transport flows.”

Transportation capacity along the north-south route, which includes a longer rail link via central Asia and a Trans-Caspian Sea network, could increase by 85% to 35 million tonnes a year by 2030, according to the Eurasian Development Bank. It will connect Russia with Iran and India as well as potentially the rest of South Asia, the Persian Gulf and Africa. Last August, Russia sent its first direct cargo train to Saudi Arabia.

“If the other routes are interrupted, this one will continue working because it’s sanctions-proof,” said Nikita Smagin, an analyst at the Kremlin-founded Russian International Affairs Council. “That’s the main idea.”

Driven by Russian oil sales and purchases of electronics, industrial equipment and cars, trade with China hit a record $240 billion in 2023, more than double the $108 billion reached in 2020. Trade with India grew to almost $64 billion last year, versus around $10 billion three years earlier, as New Delhi’s purchases of Russian oil have soared since the war in Ukraine began.

Russia’s growing trade with China is already spurring the Kremlin to spend billions to upgrade its vast eastern railroads to expand capacity on the Trans-Siberian and Baikal-Amur Mainline by 2030.

Neighboring Turkey’s trade boom with Russia is faltering, however, as the US and the EU crack down on so-called dual-use goods that could provide the Kremlin with a vital lifeline for its military offensive in Ukraine. Preliminary data published earlier this month from Turkey’s Trade Ministry showed exports to Russia fell by a third in the first quarter from a year earlier.

Development of the Northern Sea Route has been slowed by Western punitive measures over the invasion of Ukraine that have stalled a Russian plan to export liquefied natural gas from the Arctic LNG 2 plant to Asia as key foreign investors froze their participation. The sanctions also upended contracts for the plant to get specialized icebreaker vessels needed to navigate the freezing waters.

Chinese shipping company Cosco stopped using the route from 2022, even though a trip from Dalian, China, to Rotterdam in the Netherlands along the NSR takes around 33 days, compared to 48 days via the Suez Canal. All transit between Asia, North America and Europe through the Arctic that in 2021 represented 40% of shipping volumes has stopped amid concerns over falling foul of sanctions.

That’s despite continuing attacks since late last year by Yemen’s Iran-backed Houthi militants on vessels in and around the Red Sea, which is forcing Western shipping firms to avoid the Suez Canal and take a longer route around the southern tip of Africa.

“International transit traffic through the NSR was considered risky because of changes in the geopolitical situation,” said Mikhail Grigoryev, an Arctic expert who is the co-owner and director of consulting company Gecon.

Still, the United Arab Emirates’s DP World port operator in October signed an agreement with Russian state-run Rosatom nuclear operator to develop container shipping along the route between Vladivostok and Murmansk.

In January, Putin attended a keel-laying ceremony for the fifth of seven nuclear-powered icebreakers Russia is building for service on the Northern Sea Route, calling the fleet “an enormous competitive advantage” for the country.

At the launch of two earlier vessels in November 2022, Putin said the ships would “help Russia more fully unlock its export potential and establish efficient logistics routes, including to Southeast Asia.”

India meanwhile is investing in Chabahar, the only Iranian port with direct access to the Indian Ocean, after getting a waiver from US sanctions.

The Russian-backed rail connection via Iran opens the way to central Asia — including crucially Afghanistan — and “offers a shorter route to Europe,” said Vaishali Basu Sharma, a former consultant at India’s National Security Council Secretariat.

“Emerging markets are finally breaking free from the hegemony created by developed countries,” she said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

Vladimir Putin says Russia forced to respond to Ukraine energy attacks

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The Russian Defence Ministry said earlier on Thursday that it had conducted a “massive strike” in response to Ukrainian attacks on Russia’s oil and gas facilities. The overnight bombings targeted power plants and underground gas-storage facilities in five regions across Ukraine, according to the Ukrainian military.

Russian President Vladimir Putin said his forces launched an attack that destroyed the largest power generating plant in the Kyiv region in retaliation for assaults against his own country’s energy sector.

The Russian Defence Ministry said earlier Thursday that it had conducted a “massive strike” in response to Ukrainian attacks on Russia’s oil and gas facilities. The overnight bombings targeted power plants and underground gas-storage facilities in five regions across Ukraine, according to the Ukrainian military.

“Unfortunately, we recently witnessed a series of strikes on our energy facilities and were forced to respond,” Putin said in televised remarks during a meeting with Belarusian President Alexander Lukashenko.

While talking with his longterm ally, Putin said Moscow was ready for dialog on Ukraine, but wouldn’t have any positions “foisted” upon it. He also criticized the idea of a conference being held in Switzerland without Russia’s participation.

Also Read: Joe Biden vows to back Japan, Philippines as China jolts allies

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Russia aborts Angara-A5 space rocket launch for second time this week

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Russian President Vladimir Putin aims for Russia’s space program, including planned construction of a new Russian space station by 2027, and has described the Angara project as having huge significance for national security, as per Reuters.

The test launch of Russia’s Angara-A5 rocket from the Vostochny Cosmodrome was aborted on Wednesday for the second time this week.

“The command to cancel the launch has been issued,” said an announcement made through loudspeakers mere seconds before takeoff at the launch site in Russia‘s Far East.

It was not immediately clear why.

On Tuesday, an issue with the pressurising system of the rocket’s oxidiser tank forced a last-minute cancellation of the launch. It was delayed by 24 hours.

The two aborted launches are yet another setback in a project that has been dogged by manufacturing delays and technical issues.

President Vladimir Putin has grand ambitions for Russia’s space program, including planned construction of a new Russian space station by 2027, and has described the Angara project as having huge significance for national security.

The launch was set to be the first for this type of rocket at Russia’s new launch site at the Vostochny Cosmodrome, located in the forests of the Amur region in Russia’s Far East.

The 42.7-metre Angara launch vehicle is capable of carrying payloads bigger than 20 tonnes into orbit.

Due to its location closer to the equator, Angara-A5 can deliver a heavier payload to orbit if launched from Vostochny, Russia’s first and only post-Soviet spacecraft launch site, than from Plesetsk, an Soviet-era facility where it has had three successful test launches of the Angara rocket.

The setback follows the failure of a Russian moon mission last August, its first in 47 years, when the spacecraft crashed into the moon.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Russia, Kazakhstan rescue over 100,000 people amid worst flooding in nearly seven decades

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The Ural River which flows through Russia and Kazakhstan into the Caspian, burst through an embankment dam on Friday, flooding the city of Orsk just south of the Ural Mountains. Also, the water levels in the Russian city of Orenburg rose towards the critical level of 9.3 metres as sirens warned major floods were imminent, as per Reuters.

Russia and Kazakhstan ordered more than 100,000 people to evacuate after swiftly melting snow swelled mighty rivers beyond bursting point in the worst flooding in the area for at least 70 years.

The deluge of melt water overwhelmed scores of settlements in the Ural Mountains, Siberia and areas of Kazakhstan close to rivers such as the Ural and Tobol, which local officials said had risen by metres in a matter of hours to the highest levels ever recorded.

The Ural River, Europe’s third longest which flows through Russia and Kazakhstan into the Caspian, burst through an embankment dam on Friday, flooding the city of Orsk just south of the Ural Mountains.

Downstream, water levels in Orenburg, a city of around 550,000, rose towards the critical level of 9.3 metres as sirens warned major floods were imminent. The water level is currently 9.14 metres.

Sirens in Kurgan, a city on the Tobol river, a tributary of the Irtysh, warned people to evacuate immediately. An emergency was also declared in Tyumen, a major oil producing region of Western Siberia – the largest hydrocarbon basin in the world.

“The difficult days are still ahead for the Kurgan and Tyumen regions,” Kremlin Spokesman Dmitry Peskov told reporters. “There is a lot of water coming.”

President Vladimir Putin spoke to President Kassym-Jomart Tokayev of Kazakhstan, where over 86,000 people have been evacuated due to flooding. Tokayev said the flooding was probably the worst in 80 years.

The most severely hit areas are Atyrau, Aktobe, Akmola, Kostanai, Eastern Kazakhstan, Northern Kazakhstan and Pavlodar regions, most of which border Russia and are crossed by rivers originating in Russia such as the Ural and the Tobol.

In Russia, anger boiled over in Orsk when at least 100 Russians begged the Kremlin chief to help and chanted “shame on you” at local officials who they said had done too little.

The Kremlin said Putin was getting updated constantly on the situation but that he had no immediate plans to visit the flood zone as local and emergency officials were doing their best to cope with the deluge.

Evacuate Now

In Kurgan, a region with around 800,000 residents, drone footage showed traditional Russian wooden houses and the golden kupolas of Russian Orthodox Churches stranded among a vast expanse of water.

In Orenburg, a city of more than half a million, residents paddled along roads as if they were rivers. Dams and embankments were being strengthened as the Ural river rose to nearly 10 metres high.

Russian officials have said some people ignored calls to evacuate. Kurgan Governor Vadim Shumkov urged residents to take the warnings seriously.

“We understand you very well: It is hard to leave your possessions and move somewhere at the call of the local authorities,” Shumkov said.

“It’s better that we laugh at the hydrologists together later and praise God for the miracle of our common salvation. But let’s do it alive.”

In Kurgan, water levels were rising in the Tobol and Russia said 19,000 people were at risk in the region.

Rising water was also forecast in Siberia’s Ishim river, also a tributary of the Irtysh, which along with its parent, the Ob, forms the world’s seventh longest river system.

It was not immediately clear why this year’s floods were so bad as the snow melt is an annual event in Russia. Scientists say climate change has made flooding more frequent worldwide.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?