Hungarian writer Laszlo Krasznahorkai wins Nobel Prize in literature
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Stockholm (AP): Hungarian writer Laszlo Krasznahorkai, whose philosophical, bleakly funny novels often unfold in single sentences, won the Nobel Prize in literature Thursday for his “compelling and visionary oeuvre.”
Krasznahorkai follows in the footsteps of literary greats including Ernest Hemingway, Albert Camus and Toni Morrison in winning the prestigious award.
The literature prize has been awarded by the Nobel committee of the Swedish Academy 117 times to a total of 121 winners. Last year's prize was won by South Korean author Han Kang for her body of work that the committee said “confronts historical traumas and exposes the fragility of human life.”
The literature prize is the fourth to be announced this week, following the 2025 Nobels in medicine, physics and chemistry.
The winner of the Nobel Peace Prize will be announced on Friday. US President Donald Trump is considered a long shot despite recently telling United Nations delegates “everyone says that I should get the Nobel Peace Prize.”
The final Nobel, the Nobel Memorial Prize in Economic Sciences, is to be announced on Monday.
Nobel Prize award ceremonies are held on December 10, the anniversary of Alfred Nobel's death in 1896. Nobel was a wealthy Swedish industrialist and the inventor of dynamite who founded the prizes.
Each prize carries an award of 11 million Swedish kronor (nearly USD 1.2 million), and the winners also receive an 18-carat gold medal and a diploma.
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What is Tax Holiday announced for foreign cloud firms till 2047 in Union Budget
New Delhi: Finance Minister Nirmala Sitharaman on Sunday announced a major tax incentive aimed at attracting global cloud service providers to set up and expand their operations in India. Under the Union Budget proposals, foreign companies that offer cloud services worldwide by using data centres located in India will be granted a tax holiday until 2047.
Announcing the measure, Sitharaman said the move is intended to draw global investment into India’s digital infrastructure, generate employment and strengthen the country’s role in the global digital economy.
A tax holiday is a policy tool used by governments to encourage investment. It involves a temporary reduction or complete exemption from certain taxes, usually corporate or income tax, for a defined period. Such incentives are often offered to promote specific sectors, boost economic activity and create jobs.
Under the new proposal, foreign cloud service providers will be allowed to operate globally using data centres based in India, but services to Indian customers must be routed through an Indian reseller entity. This structure is meant to ensure local participation and regulatory oversight while still allowing global companies to base their infrastructure in India.
Indian companies that provide data centre services to these foreign firms will receive a safe harbour tax rate of 15 per cent. Safe harbour provisions offer certainty on tax liability by fixing profit margins in advance, reducing disputes and making it easier for businesses to plan their operations.
The Budget also includes measures linked to electronic manufacturing. Non-resident companies will be allowed to use bonded warehouses in India to store components. These entities will be taxed on a profit margin of just 2 per cent of the invoice value, translating to an effective tax rate of around 0.7 per cent. The government says this rate is significantly lower than what is offered by many competing countries.
Explaining the rationale behind the move, Sitharaman said the policy would encourage large-scale investment in data centres and related infrastructure, create local jobs and help India emerge as a global hub for digital and cloud services.
