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Vinay Hiremath, the Indian-origin co-founder of Loom, who sold the company to Atlassian for $975 million in 2023, has candidly shared his post-wealth insecurities in a blog post titled "I am rich and I have no idea what to do with my life." Reflecting on the past year, he expressed feelings of aimlessness and uncertainty despite his newfound freedom, stating, "Life has been a haze." Hiremath also detailed personal challenges, including a painful breakup with his girlfriend, for which he issued an apology, and a struggle over whether to accept a $60 million CTO role at Atlassian. After exploring various ventures, including an ill-fated trek in the Himalayas and brief involvement with DOGE, he ultimately decided to pursue a passion for physics in Hawaii. At 33, he aims to create tangible products, embracing the idea that his next venture need not replicate Loom's success. 
Published: Jan 05 2025, 10 pmeznews.inOn April 2, 2025, President Donald J. Trump declared "Liberation Day," marking a significant shift in U.S. trade policy with the announcement of reciprocal tariffs against various countries. These tariffs, aimed at addressing perceived unfair trade practices, have already sent Asian markets tumbling and driven gold prices to a record high. India faces particular challenges, with a new 26% duty on exports potentially costing its economy $31 billion and disrupting vital sectors like electronics, pharmaceuticals, and textiles. Trump's protectionist stance, which echoes previous administrations' approaches to tariffs, aims to reshape trade relations and bolster American manufacturing. Critics argue that such measures may disproportionately burden consumers and create economic instability, as evidenced by past tariff wars that led to increased prices and strained supply chains. The evolving landscape of U.S. trade policies reflects a broader bipartisan trend towards protectionism, reshaping international economic dynamics amid rising global tensions.
Published: Apr 03 2025, 2 pmeznews.inThe United States has imposed a flat 26% reciprocal tariff on all goods exported from India, following President Donald Trump's decision to raise trade barriers on imports. This new tariff comes amidst a backdrop of varying tariffs imposed on other nations, with rates ranging from 10% to 49%. Key sectors affected include electronics, gems, and jewellery, with nearly $14 billion and over $9 billion worth of exports at risk, respectively. Notably, while the US levies a 2.5% tariff on passenger vehicles, India imposes a substantial 70%. However, pharmaceuticals and energy products from India will remain exempt. The US has a significant trade deficit of $46 billion with India, and the White House criticized India's stringent testing requirements that hinder US exports. Despite these challenges, India is reportedly willing to negotiate lower tariffs on $23 billion worth of US goods, aiming to capitalize on potential market share in textiles and steel.
Published: Apr 03 2025, 3 pmeznews.inChina has strongly condemned the new US tariffs, asserting its intention to implement countermeasures to protect its rights and interests. President Donald Trump's decision to impose a 10 percent levy on imports globally, alongside a staggering 34 percent tariff specifically on China, has raised concerns about a potential global trade war. The Chinese Commerce Ministry criticized these tariffs as violations of international trade rules, arguing they threaten global economic growth and harm both US and international supply chains. In retaliation, Beijing has already imposed tariffs of up to 15 percent on various US agricultural products. As China's economy grapples with challenges such as a debt crisis in the property sector and low consumer spending, the escalating trade tensions could jeopardize its recovery. China called for dialogue to address the dispute, warning that protectionism leads to no winners.
Published: Apr 03 2025, 3 pmeznews.inIn the wake of a devastating 7.7 magnitude earthquake that struck Mandalay, Myanmar, last Friday, Indian rescue teams are working diligently to recover bodies and provide relief amid the chaos. The quake has claimed over 3,000 lives and left many areas in ruins, including a residential complex where a devout Muslim woman was found praying with her child. Initial resistance from locals delayed rescue operations, but as the need for expertise became clear, the Indian National Disaster Response Force (NDRF) team carefully extricated the bodies while maintaining dignity. Under 'Operation Brahma,' India has dispatched medical supplies and established a field hospital, treating around 200 patients, including earthquake victims. Local residents have expressed gratitude for the support, highlighting the collaborative spirit in the face of tragedy. The earthquake has severely impacted numerous historic sites, with many still missing under collapsed structures.
Published: Apr 03 2025, 3 pmeznews.inA teacher trapped under the rubble of a hotel in Sagaing for five days survived Myanmar's catastrophic 7.7-magnitude earthquake through a combination of old survival lessons and his own urine. Tin Maung Htwe, 47, was attending a training course when the earthquake struck, prompting him to seek shelter under a bed as the building collapsed around him. Rescuers, including a Malaysian team, found him amidst the devastation, where many buildings had been reduced to debris. His sister, Nan Yone, expressed overwhelming joy at his rescue, describing her emotions as a mix of dancing and crying. After being transported to a hospital, Tin Maung Htwe, despite his injuries, expressed gratitude for his survival and a desire to return to teaching, though he is also contemplating becoming a Buddhist monk. The destruction in Sagaing is significantly worse than in nearby Mandalay, complicating rescue efforts.
Published: Apr 03 2025, 3 pmeznews.inFollowing a regime change in Bangladesh, the interim government is pivoting towards China for economic support, distancing itself from India, its traditional ally. This shift comes despite India's significant investments in Bangladesh, which include new trade routes and economic corridors. The interim Chief Advisor, Md Yunus, has raised concerns about India's influence, as Bangladesh seeks to reduce Indian economic engagement while courting Chinese investments, particularly in manufacturing, infrastructure, and technology. A $2.1 billion investment commitment from Chinese firms has been highlighted, with plans for a Chinese Economic Zone in Anowara. This realignment poses strategic challenges for India, especially regarding its northeastern regions, where the Chittagong port is seen as crucial for trade. Local politicians are increasingly vocal about securing India's interests, with some advocating for a reevaluation of Bangladesh's territorial integrity.
Published: Apr 03 2025, 1 pmeznews.inIn a heated session of the Lok Sabha, opposition leader Rahul Gandhi decried the United States' decision to impose reciprocal tariffs of 26% on Indian exports, warning that it could "devastate our economy," particularly affecting the auto and pharmaceutical industries. Criticizing the Narendra Modi government's foreign policy, Gandhi accused it of conceding 4,000 square kilometers of land to China while failing to address rising tensions with the US. He invoked his grandmother, former Prime Minister Indira Gandhi, to highlight a perceived lack of independence in the current administration's approach to foreign relations. Gandhi also expressed outrage over a recent cake-cutting event involving the Chinese ambassador, questioning the government's stance on territorial integrity following the Galwan Valley clash that resulted in the deaths of 20 Indian soldiers. In response, BJP MP Anurag Thakur pointed to historical losses in the region under previous governments. The Commerce Ministry is currently assessing the potential impact of these tariffs.
Published: Apr 03 2025, 2 pmeznews.inA week after a devastating 7.7-magnitude earthquake claimed over 3,000 lives in Myanmar, the country's economic recovery is further threatened by steep tariffs imposed by former US President Donald Trump. Myanmar faces a staggering 44 percent tariff, one of the highest globally, exacerbating its struggles amid ongoing political turmoil since the military coup in 2021. The military junta has sought international aid and plans to address the earthquake's aftermath at the upcoming BIMSTEC summit in Bangkok. Other nations similarly affected by high tariffs include Cambodia, facing 49 percent, and Laos at 48 percent, both grappling with significant poverty levels. Emerging economies like Vietnam and Sri Lanka also bear heavy tariffs of 46 and 44 percent, respectively. The tariff list extends to lesser-known regions, including Norfolk Island and Australia's uninhabited Heard and McDonald Islands, highlighting the broad impact of these trade measures.
Published: Apr 03 2025, 2 pmeznews.inThousands of immigrant tech workers in the U.S., including a significant number of Indians, are facing uncertainty amid President Donald Trump's strict immigration policies. Major tech firms like Google and Amazon have advised their H-1B visa holders to avoid international travel for fear of being barred from re-entering the country. Reports suggest a potential rise in denial rates for high-skilled visas, reminiscent of Trump's first term, leading to concerns about the citizenship status of future children born to these workers. The H-1B program, which permits U.S. employers to hire foreign workers in specialty occupations, has seen Indians receiving the majority of these visas. Experts warn that a reduction in the immigrant workforce could hinder U.S. competitiveness in technology, particularly against China. With delays in Green Card processing and increasing anxiety among immigrants, the tech industry’s reliance on foreign talent remains precarious.
Published: Apr 03 2025, 2 pmeznews.inActor Jean-Claude Van Damme is embroiled in a criminal investigation in Romania, accused of engaging in sexual relations with five women believed to be victims of human trafficking. The 64-year-old, known for his roles in action films such as _Bloodsport_ and _Kickboxer_, allegedly received the women as a "gift" from a criminal network led by Morel Bolea. Romanian authorities have filed a complaint with the Directorate for Investigating Organised Crime and Terrorism (DIICOT), claiming Van Damme was aware of the women's exploitation during an event in Cannes, France. An attorney representing one of the victims emphasized their vulnerable state, stating that Van Damme knew their condition. This case follows the high-profile arrests of Andrew and Tristan Tate on similar charges in Romania in 2022. Van Damme, a martial artist and Hollywood star, has faced personal struggles, including substance abuse and legal issues throughout his career.
Published: Apr 03 2025, 2 pm
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