Yahoo shuts down news sites in India
New Delhi(PTI): Yahoo has shut down its news websites in India due the new foreign direct investment (FDI) rules that limit foreign ownership of media companies that operate and publish digital content in India.
This includes Yahoo News, Yahoo Cricket, Finance, Entertainment and MAKERS India. This, however, will not affect users' Yahoo e-mail, and search experiences in India.
"As of August 26th, 2021 Yahoo India will no longer be publishing content. Your Yahoo Account, Mail and Search experiences will not be affected in any way and will operate as usual. We thank you for your support and readership," a notice on the Yahoo website said.
US tech major Verizon had acquired Yahoo in 2017.
In the FAQ section, Yahoo said effective August 26, 2021, the company has ceased publication of content in India and has shut down Yahoo's content operations in the country.
"We did not come to this decision lightly. However, Yahoo India has been impacted by changes to regulatory laws in India that now limit the foreign ownership of media companies that operate and publish digital content in India. Yahoo has had a long association with India and we're really proud of the premium, local content we have provided our users here for the last 20 years," it said.
It added that given that Yahoo Cricket has a 'news' component, "it was impacted under the new FDI regulations that limit foreign ownership of media companies that operate and publish digital content in India in the 'News and Current Affairs' space".
Thanking all its users in India for the "support and trust" over the past two decades, it noted that it remains "open to opportunities that connect us to users here".
As per the new FDI regulations that will come into effect in October, digital media companies in India can accept up to 26 per cent investment in the form of foreign investment, subject to approval from the central government.
"In case you are a Yahoo Mail user, this change does not affect you in any way. This development does not impact our products Yahoo Mail and Yahoo Search, where we will continue to serve users in India as before, without any change," it said.
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21 hours raid fetch nothing for ED, claims Karnataka Cong MLA’s son
Bengaluru (PTI): Karnataka Congress MLA N A Haris' son Mohammed Haris Nalapad on Tuesday claimed that the 21 hours of search by the ED in his house and other locations did not fetch anything.
The Enforcement Directorate on Monday raided the premises of the two sons of Haris (Mohammed Haris Nalapad and Omar Farook Nalapad), Aqeeb Khan, grandson of ex-Union cabinet minister K Rahman Khan and an alleged crypto hacker named Srikrishna Ramesh alias Sriki in a crypto currency-linked money laundering case.
More than a dozen premises in the city have been covered as part of the action executed under the provisions of the Prevention of Money Laundering Act (PMLA).
"My grandfather is 89-year-old. There is not a single bad mark. My father (N A Haris) is a four-time MLA. There is not a single accusation against him. Their only intention was to target myself and my brother. As simple as that," Mohammed Nalapad, who is a former Karnataka Youth Congress president, told reporters.
According to him, the ED officials carried out raids for 21 hours.
"After 21 hours of search, they took away only two mobile phones from our house. They did not get a single paisa. The ED will testify it," the Congress leader said.
Exuding faith in the law, he said he is ready to fight the case in court.
"Me and my father have opted for politics and we are in public life. You can call me whatever you want but I have not done anything wrong," Mohammed Nalapad said.
Regarding his relationship with Sriki, he said he knew him but had no clue what he was doing.
"I have never said that either me or my brother do not know Sriki. But how will I know what he does in his house? Can his crimes be linked to us," he asked.
The money laundering case stems from some Karnataka Police FIRs and chargesheets filed in a 2017 case of hacking of national and international websites, stealing of bitcoins and sale of these 'stolen' virtual digital assets (VDA) through crypto platforms by the alleged hacker Sriki and his associates.
The Nalapad brothers and Aqeeb Khan are alleged to be the beneficiaries of the proceeds of crime generated through this alleged crypto-linked crime, the ED said.
