belagavi l Tuesday l October 14, 2025 l `9.00 l PAGES 14 l late city EDITION ECONOMICS NOBEL TO 3 FOR WORK ON innovation-driven GROWTH Joel Mokyr Philippe Aghion Peter Howitt Understanding sustained economic growth American-Israeli economic historian Mokyr showed that for innovation to continue, people need more than just proof that something works, they also need to understand how and why it works. Aghion and Howitt studied “creative destruction”, which happens when a better product replaces an older one, causing the older businesses to fall behind Joel Mokyr, Philippe Aghion, and Peter Howitt won Nobel prize in economics for their research explaining how tech drives economic growth Highlighting the role of technology ■ “Their work shows that we must uphold the mechanisms that ■ Mokyr showed how inventions like smartphones and the internet brought huge benefits, even if they aren’t visible in economic data underlie creative destruction, so we do not fall back into stagnation,” said John Hassler, chair of the Nobel economics prize committee 1968 When sweden’s central bank established the economics Nobel 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 All Israeli hostages, 1,968 Palestinians freed A g en c i e s All 20 living Israeli hostages held by Hamas and 1,968 Palestinian prisoners in Israel’s custody were released on Monday as part of a landmark ceasefire agreement that has raised hopes of ending the two-year-old Gaza war. In Tel Aviv, Israelis erupted in cheers as hostages were confirmed free, while Palestinians in the West Bank and Gaza greeted buses of released prisoners with celebrations, AP reported. Under the deal, Hamas is also due to return the bodies of 27 hostages who died or were killed in captivity The Israeli military . said on Monday night that the bodies of two deceased hostages were also handed over to the Red Cross. Speaking to Israeli lawmak- ers, Prime Minister Benjamin Netanyahu said he was “committed to this peace,” signalling the war that began when Hamas militants attacked southern Israel on October 7, 2023, could finally be ending. US President Donald Trump also addressed the Israeli Knes- Their freedom stands as a tribute to the courage of their families, the unwavering peace efforts of President Trump and the strong resolve of PM Netanyahu Narendra Modi Together we’ve shown that peace is not just a hope that we can dream about, it’s a reality we can build upon day by day Donald Trump CM hints at cabinet rejig at dinner meet E x p r e s s N e w s Se r v i c e @ Bengaluru With his government completing the half-way mark of twoand-a-half years in office, Chief Minister Siddaramaiah hosted a dinner for his cabinet colleagues at his residence on Monday night. At the event, he hinted at a cabinet reshuffle if the Congress high command gives its approval, but asked the ministers not to worry about it and to continue to focus on their respective departments. Since he mentioned the reshuffle and held one-on-one meetings with the ministers Court frames charges against Lalu, Tejashwi E x p r e s s ne w s s e r v i c e @ New Delhi LESS than a month before Bihar goes to polls, Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav, his wife Rabri Devi, and son Tejashwi Yadav were on Monday charged by a Delhi court in the IRCTC hotels-forland scam. The move comes as the party gears up for the twophase Assembly elections on November 6 and 11, potentially adding a legal twist to the poll narrative. Special Judge Vishal Gogne said that “there existed a prima facie case and grave suspicion regarding the land transfers involved in the matter.” The judge framed common charges of criminal conspiracy and cheating against Rabri Devi and Tejashwi Yadav, while Lalu was additionally charged under provisions of the Prevention of Corruption Act.All three leaders pleaded not guilty and sought a trial. The case, being pursued by the CBI, stems from alleged irregularities in granting contracts for two IRCTC hotels in Puri and Ranchi to a private firm, Sujata Hotels Private Limited. CBI alleged that the tender was manipulated, with conditions tweaked to favour the Patna-based private firm. 1.54% retail inflation Retail inflation slowed to an over 8-year low last month, due to subdued prices of vegetables, fruits and pulses when Deputy Chief Minister DK Shivakumar stepped out for a while gave rise to speculation, sources said. This gave enough indication that the CM is in favour of the rejig after the Bihar Assembly polls in mid-November, they added. Many aspirants, including those from Siddaramaiah’s coterie -- Ramadurga MLA Ashok Pattan and Bangarpet MLA S N Narayanaswamy -- have publicly expressed their desire to become ministers expecting the reshuffle soon. Those who will be dropped are likely to be given posts befitting their profile in the party organisation at the state and national level, a source revealed.  P4 set (Parliament) on Monday, where he hailed an end to a “painful nightmare”. “For so many families across this land, it has been years since you’ve known a single day of true peace,” Trump said. “Not only for Israelis, but also for Palestinians and for many others, the long and painful nightmare is finally over,” he added. Trump was greeted with a standing ovation by Israeli lawmakers as he entered the Knesset. He later joined a summit in Egypt on Gaza’s future. While Hamas said it will hand over the bodies of four of 28 deceased captives, it was not immediately clear when the rest would be released. “Hamas is required to abide by the agreement and make the necessary efforts to return all the bodies,” the Israeli military said.  more reports: p11 S U CHITRA K ALYA N M O HA N T Y @ New Delhi A Palestinian prisoner, who was released on Monday, gestures as he and others disembark from a bus at Ramallah Cultural Centre in Ramallah, West Bank; (inset) released Israeli hostage Alon Ohel gestures to well-wishers | AFP Disaster road map to cut losses by 70% by ’30 R a s h m i Pat i l @ Bengaluru THE Karnataka State Natural Disaster Monitoring Centre (KSNDMC) along with UNICEF launched Karnataka State Disaster Risk Reduction Road Map (KSDRR) 2025-2030 on the International Day for Disaster Risk Reduction on Monday . Karnataka is now the fifth SC orders CBI probe into Karur stampede state to launch the Disaster Risk Reduction roadmap, following Bihar, Andhra Pradesh, Tamil Nadu and Assam. Noting that the state witnessed around Rs one lakh crore losses in the last five years due to natural disasters, Mullai Muhilan, Director, KSNDMC, said, through the KSDRR, the KSNDMC aims to express read Bike mechanic, friend held for raping woman near Chikkaballapur Chikkaballapur: In a horrific crime, a bike mechanic and his friend allegedly raped a 35-year-old woman when she was walking on the GauribidanurChikkaballapur Main Road on the Highway 69 to her village. She could not take the bus, as she did not have money or the Aadhaar card with her. The two assailants have been identified as Sikanthar, the mechanic, and his friend Janardhan Achary. The police formed a special team, which nabbed the culprits | P5 prevent and tackle these disasters through systematic road map. “The theme on this day is ‘Fund Resilience, Not Disasters’, and that is why this road map is a framework of existing solutions to reduce and prevent losses by mitigating floods, drought, earthquakes, heat waves and so on.”  P5 The Supreme Court on Monday ordered a CBI investigation into the Karur stampede in which 41 people died and over 100 were injured during a rally organised by actorpolitician Vijay’s TVK on September 27. A bench of Justices JK Maheshwari and NV Anjaria said the incident shook the nation’s conscience, has left an imprint in the minds of the citizens throughout the country, and deserves a fair and impartial investigation. The bench, in its interim order on a plea by the TVK and three others seeking independent probe, also set up a threemember supervisory committee headed by retired SC judge Justice Ajay Rastogi to monitor the CBI investigation. The committee will include two IPS officers of Tamil Nadu cadre who are not natives of Tamil Nadu. “The officers of the CBI are directed to submit a monthly progress report of the probe to the committee, which may be placed for consideration before this court as and when required. We request that the investigation be completed as expeditiously as possible within the statutory time frame,” the bench said. Suspending the Madras HC’s direction to appoint a SIT, and inquiry commission headed by former HC judge Justice Aruna Jagadeesan appointed by the Tamil Nadu government, the top court asked the state to extend full cooperation to the officers of the central agency . Explaining the rationale for ordering the CBI probe in the case, the Supreme Court observed that the comments made by senior TN police officers before the media regarding the Karur stampede may create doubt in the minds of citizens about the impartiality and fairness of the ongoing investigation. The court observed that, according to the petitioners, an investigation undertaken by the same police force whose top officials had publicly exonerated their subordinates by asserting that adequate steps had been taken, would lack the element of fairness and impartiality . P5