Bitcoin’s value tops $1,00,000 after 50% rise in one month Bitcoin crossed the $100,000-mark on Thursday amid a massive price rally sparked by the election of Donald Trump as US president Trump names crypto advocate to chair SEC KOZHIKODE l friday l December 06, 2024 l `9.00 l PAGES 12 l city EDITION Bitcoin surged on Thursday after Trump said he intends to nominate cryptocurrency advocate Paul Atkins as the next chair of the Securities and Exchange Commission (SEC), signalling a lighter regulatory approach to the crypto industry. The current SEC chair Gary Gensler has cracked down on the industry, penalising many firms for violating securities laws CHENNAI ■ MADURAI ■ VIJAYAWADA BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI ■ ■ Fadnavis back as State govt move to compensate Maha CM; Shinde, TECOM triggers controversy Ajit Pawar DyCMs A nu K uru v i l l a @ Kochi Cabinet likely to be expanded next week S U D H I R S U R YA W A N S H I @ Mumbai Devendra Fadnavis on Thursday took oath as Maharashtra chief minister for the third time, marking the BJP leader’s return to the top post after a gap of five years. Shiv Sena chief Eknath Shinde and NCP leader Ajit Pawar took oath as deputy chief ministers. No other ministers were sworn in. The cabinet is likely to be expanded next week, ahead of the winter session of state legislature in Nagpur. Fadnavis said portfolio allocations have been more or less finalised but a few more rounds of consultations with allies are pending. An announcement will be made later, he said. “The posts may have changed among them, but the direction of work will remain the same. We will also hear out the Opposition if they raise relevant points. The Speaker’s name will be decided on December 9. Maharashtra will have a very stable government for the next five years,” Fadnavis said. Before taking the oath, Fadnavis visited the Siddhivinayak temple and also took the blessing of his mother. Shinde invoked late Balasaheb Thackeray and his Guru Anand Dighe while taking oath. That Shinde would join Devendra Fadnavis after taking oath as Maharashtra Chief Minister | X the government as deputy CM was confirmed only hours before the swearing-in ceremony amid the protracted political drama over his reported reluctance to accept the post. Over 42,000 people gathered at Azad Maidan to witness the swearing-in ceremony. Prime Minister Narendra Modi and Union ministers Amit Shah, Rajnath Singh, Nitin Gadkari, J P Nadda, and Shivraj Singh Chouhan besides chief ministers of various states were present at the ceremony . Also in attendance were cricketer Sachin Tendulkar and Bollywood stars Shah Rukh Khan, Salman Khan, Shraddha Kapoor, and Janhvi Kapoor. From the business world, Mukesh Ambani and Kumar Mangalam Birla attended. The cabinet decision to pay compensation to TECOM Investments for withdrawing from the SmartCity Kochi project has triggered a controversy with the Opposition claiming that several clauses in the original agreement allowed the state government to avoid any payment to the Dubai-based firm that owns 84% stake in the project. Another decision of the state cabinet that has raised eyebrows is the inclusion of former SmartCity Kochi MD Baju George in the committee constituted to arrive at a compensation plan for TECOM. “This is inappropriate and raises conflict of interest,” said a source, who worked closely with the gov- ernment in formulating the initial framework agreement. Sources said the agreement between TECOM and the state government says there is no need to pay compensation if the firm fails in its promise to generate 90,000 jobs or create 8.8 million sq ft space in 10 years. The project, which was launched on June 9, 2012, could only create just over A rapidly growing new glacier discovered in Uttarakhand Ajay Rana, and Gautam Rawat of Wadia Institute of Himalayan GeA group of scientists have discov- ology Their study, titled Manifes. ered a new glacier in Uttarakhand tations of a Glacier Surge in Centhat is rapidly growing in size. tral Himalaya Using The newly-discovered glacier is Multi-Temporal Satellite Data, was located in the Niti Valley a remote done using satellite data. The find, area in the northernmost region ings indicate that the glacier is of of the state, close to the India- currently “surging”. “Satellite data suggests three Tibet border. Stretching 10 kilometres in length, the unnamed primary reasons for this phenomenon— hydrological glacier, which lies adjaimbalance, ther mal cent to the Randolph contrast and sedimenand Rekana glaciers, tary terrain,” Dr Mespans approximately 48 hta, who is a senior gesquare kilometres. It was identified by ologist at the Wadia glaciologists Manish Institute of Himalayan The site of new glacier Geology, said. Mehta, Vineet Kumar, N A R E N D R A S E T H I @ Dehradun 5,000 jobs by 2022. The clause 7.1.3 in the original agreement that is being cited by the Opposition says, if TECOM Investment LLC abandons the project, the state government shall acquire the entire 84% shares of the Dubai Holding subsidiary and its permitted affiliate in the SPV at a consideration, which is the same amount as any sums paid to government of Kerala in cash by SPV till the date of such acquisition. “It says about the amount that was paid to the government at the start of the project and doesn’t mention anything about compensating for the entire 84% stake,” said a source. According to sources, the project had faced many hiccups ● More on P4 right from the start. EXPRESS READ Medico from Edathua succumbs to injuries Kochi: The death toll in the Alappuzha accident that occurred on Monday night rose to six as a 20-year-old medico from Edathua succumbed to injuries on Thursday. Alvin George, who was under treatment at a hospital in Kochi, died on Thursday evening. P4 Sidharthan case: Order debarring students nixed Kochi: The High Court has quashed the order of the anti-ragging committee of Kerala Veterinary and Animal Sciences University debarring students, who are allegedly involved in the case related to death of Sidharthan J S. Rohit makes bold call, to bat in middle at Adelaide G o m e sh S @ Chennai And there it was. About 24 hours after KL Rahul told the media in Adelaide jokingly that he had been informed about his batting position but asked not to reveal it, captain Rohit Sharma cleared the air by announcing that he will be moving down the order to pave way for the 32-year-old at the top in the second Test against Australia beginning Friday . “Yes, he (Rahul) will be opening the batting. I’ll bat somewhere in the middle,” Sharma told reporters on the eve of the pink-ball Test in Adelaide. Leaders are known or recognised for the choices they make, especially for them and the team. Sharma acknowledged that it will not be easy in the middle, but for the greater good of the team this was the best solution. “Not easy for me, but it’s the best for the team,” he said. The significance of this call — to have Rahul and Yashasvi Jaiswal at the top after their success in Perth — cannot be understated, especially in the Indian cricketing context. Barring the occasional tactical moves, captains or top-order batters, have rarely opted to sacrifice their positions. With Rahul and Jaiswal combining into a potent force in the first Test, Sharma did not want to tinker with it.