PM Modi rejected Karnataka’s request for GIFT City-like zone: Dy CM DK Shivakumar
Bengaluru: Karnataka Deputy Chief Minister DK Shivakumar recently alleged that Prime Minister Narendra Modi refused a proposal made by the Karnataka government to grant a zone like GIFT (Gujarat International Finance Tec) City in the state.
While speaking at the inauguration of the Knowledge, Wellbeing, and Innovation (KWIN) City in Vidhana Soudha on Thursday, DK Shivakumar stated that CM Siddaramaiah and he had appealed to the PM to a grant a GIFT City for Karnataka during their previous visit to Delhi. “He refused, saying that it will not be allowed, and that the existing GIFT City will remain the only financial hub,” the Deputy CM was quoted as saying by Deccan Herald.
GIFT City was established in April 2015 in Gandhinagar. Spread over 886 acres, it hosts global financial institutions, special economic zones and gives 100 percent tax exemption for 10 consecutive years.
DK Shivakumar mentioned that the KWIN City will not be a concrete jungle as it is built with a purpose. He highlighted that it is a sustainable city aimed to enhance the quality of life for its residents.
“Let’s all work together, and create a more vibrant Karnataka, and India will grow stronger, with Karnataka being the base. To make this happen, we have to take KWIN City to level in terms of development,” said Shivakumar, who is also the Bengaluru Development Minister.
Karnataka’s ambitious KWIN City is expected to come between Dobbaspete and Doddaballapura. The key districts of KWIN City are Knowledge, Health, Innovation, and Research. Spread across 5800 acres, it is expected to generate opportunities across sectors like healthcare, biotechnology, Artificial Intelligence, and advanced manufacturing.
KWIN City is designed to accommodate 500,000 residents and would harness half of its water requirements through an advanced rainwater harvesting system, with an additional 20% supplied by borewells. It will also feature a solar farm spanning 465 acres, capable of generating 0.69 million MWh to meet its entire energy requirements.
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The Latest: Kuwait blames Iran for drone strikes as Trump casts doubt on ceasefire
Dubai (AP): US President Donald Trump appeared to cast doubt on the effectiveness of the two-week ceasefire over Iran's continued chokehold over the Strait of Hormuz, while Kuwait accused Iran and its proxies of launching drone attacks targeting it on Thursday despite the ceasefire.
Iran's paramilitary Revolutionary Guard denied launching attacks on Persian Gulf states after Kuwait's announcement.
Israeli Prime Minister Benjamin Netanyahu offered a potential boost to ceasefire efforts in the region when he said he had approved direct talks with Lebanon. The Lebanese government has not responded as of Friday morning.
The announcement came after Israel's pounding of Beirut Wednesday killed more than 300 people. The negotiations are expected next week in Washington, according to a person familiar with the matter.
Questions remained over what will happen to Iran's stockpile of enriched uranium at the heart of tensions, how and when normal traffic will resume through the Strait of Hormuz, and what happens to Iran's ability to launch future missile attacks and support armed proxies in the region.
Talks between the United States and Iran on a resolution to the conflict are expected to start Saturday in Islamabad, with the White House saying Vice President JD Vance would lead the US delegation.
Here is the latest:
Air defence fire and explosions heard in Iran
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Multiple times overnight into Friday morning, people around Iran's capital, Tehran, and other parts of the country said they heard what sounded like air defence fire and explosions.
However, Iran's government did not acknowledge any attack during that period.
After past exchanges of fire with Israel, similar incidents happened as troops remained on edge.
Japan releases more oil reserves
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Japan said it will release an additional 20 days' worth of oil reserves in May, in a second round to address supply uncertainty over the war in the Middle East.
Japanese Prime Minister Sanae Takaichi said the planned release of the government reserves will start in early May, after an earlier release last month.
Japan started releasing about 50 days' worth of oil reserves in March, including from those held by the state, the private sector and oil-producing Gulf nations.
As of April 6, Japan had 230 days' worth oil reserves, including 143 days' worth in government stockpiles, according to the Natural Resources and Energy Agency.
Takaichi said her government is working to secure oil imports via routes that do not include the Strait of Hormuz, while Japan seeks to diversify suppliers.
Pakistan to issue visas on arrival ahead of talks
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Pakistan said Friday it would issue visas on arrival for those travelling to Islamabad for the Iran-US talks, signalling the interest in the world's media in the event.
