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Indian federal agency freezes Anil Ambani Group’s $351m properties, says source

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Indian federal agency freezes Anil Ambani Group’s 1m properties, says source


Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group, attends the companys annual general meeting in Mumbai, India, September 30, 2019. — Reuters
Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group, attends the company’s annual general meeting in Mumbai, India, September 30, 2019. — Reuters
  • ED freezes INR30.84bn in Ambani Group assets.
  • Mumbai, Delhi, Chennai holdings seized, says source.
  • Alleged $350 million siphoned via shell companies.

NEW DELHI: India’s financial crime agency has provisionally frozen 30.84 billion Indian rupees ($350.87 million) in assets linked to Reliance Anil Ambani Group as part of a money-laundering investigation, a government source said on Monday.

The case involves loans taken by the group, owned by the younger brother of billionaire Mukesh Ambani, from India’s YES Bank between 2017 and 2019 in excess of $568.86 million. Investments made with the funds delivered no returns.

The Enforcement Directorate has now blocked any transactions from taking place on residential units and land parcels across Mumbai, Delhi and Chennai, including industrialist Anil Ambani’s family residence in Mumbai, the source added.

Reliance Group did not immediately respond to a request for comment.

Investigators allege the funds raised by Reliance Home Finance Ltd and Reliance Commercial Finance Ltd were part of a “well-planned” scheme to siphon off 30 billion Indian rupees ($350 million) in loans from YES Bank to many shell companies.

The loans were originally invested through mutual funds and routed to group-linked entities in violation of regulations. The Reliance Group entities are also accused of paying bribes to YES Bank officials before loans were disbursed, a government source had said earlier.

The Enforcement Directorate has cited weak borrower profiles, missing documentation and misuse of funds, the source said, in a case that involves the diversion and laundering of public funds.

The agency is also probing Reliance Communications Ltd and affiliates, where over 136 billion Indian rupees ($1.55 billion) were allegedly diverted through loan evergreening and fund rerouting.





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Zohran Mamdani wins NYC mayoral race, capping meteoric rise

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Zohran Mamdani wins NYC mayoral race, capping meteoric rise


Leading New York City mayoral election candidate Zohran Mamdani. — AFP
Leading New York City mayoral election candidate Zohran Mamdani. — AFP
  • Democratic socialist defeats Cuomo on progressive platform.
  • 34-year-old becomes first Muslim mayor of largest US city.
  • Spanberger becomes first female governor of Virginia.

Zohran Mamdani, a 34-year-old democratic socialist, won the New York City mayoral race on Tuesday, capping a meteoric rise from a little-known state lawmaker to one of the country’s most visible Democratic figures.

Mamdani will become the first Muslim mayor of the largest US city. He defeated Democratic former Governor Andrew Cuomo, 67, who ran as an independent after losing the nomination to Mamdani in the primary election. 

The campaign served as an ideological and generational contest that could have national implications for the Democratic Party.

In Virginia, Democrat Abigail Spanberger easily won the election for governor, becoming the first woman elected to serve in that role. And in New Jersey, Democrat Mikie Sherrill won the governor’s race.

The trio of races offered the beleaguered Democratic Party a test of differing campaign playbooks a year ahead of the 2026 midterm elections, when control of Congress will be at stake. Since President Donald Trump’s win last year, Democrats have found themselves locked out of power in Washington and struggling to find the best path out of the political wilderness.

All three candidates emphasized economic issues, particularly affordability. But both Spanberger and Sherrill hail from the party’s moderate wing, while Mamdani campaigned as an unabashed progressive and a new generational voice.

Spanberger, who beat Republican Lieutenant Governor Winsome Earle-Sears, will take over for outgoing Republican Governor Glenn Youngkin.

Both Sherrill and Spanberger had sought to tie their opponents to Trump in an effort to harness frustration among Democratic and independent voters over his chaotic nine months in office.

“We sent a message to the world that in 2025, Virginia chose pragmatism over partisanship,” Spanberger said in her victory speech. “We chose our Commonwealth over chaos.”

Trump gave both candidates some late-stage grist during the ongoing government shutdown.

His administration threatened to fire federal workers — a move with an outsized impact on Virginia, a state adjacent to Washington and home to many government employees. He also froze billions in funding for a new Hudson River train tunnel, a critical project for New Jersey’s large commuter population.

In interviews at Virginia polling stations on Tuesday, some voters said Trump’s most contentious policies were on their minds, including his efforts to deport immigrants who entered the US illegally and to impose costly tariffs on imports of foreign goods, the legality of which is being weighed by the US. Supreme Court this week.

Juan Benitez, a self-described independent, was voting for the first time. The 25-year-old restaurant manager backed all of Virginia’s Democratic candidates because of his opposition to Trump’s immigration policies and the federal government shutdown, for which he blamed Trump.

Voter turnout high

In California, voters were deciding whether to give Democratic lawmakers the power to redraw the state’s congressional map, expanding a national battle over redistricting that could determine which party controls the US House of Representatives after next year’s midterm elections. Trump on social media called the vote a scam, suggesting the vote was rigged without providing evidence.

Turnout appeared high across the board.

In New York City, more than 2 million ballots, including early voting, were cast, according to the board of elections, the most in a mayoral race since 1969. Early vote totals in Virginia and New Jersey also outpaced the previous elections in 2021.

In New York, Mamdani has proposed ambitious left-wing policies, including freezing rents for nearly a million apartments and making the city’s buses free.

While Tuesday’s results will offer some insight into the mood of American voters, the midterm elections are a year away, an eternity in politics.

“There’s nothing that’s going to happen in Virginia or New Jersey that’s going to tell us much about what will happen in a congressional district in Missouri or a Senate race in Maine,” said Douglas Heye, a Republican strategist.

For Republicans, Tuesday’s elections were a test of whether the voters who powered Trump’s victory in 2024 will still show up when he is not on the ballot.

But Ciattarelli and Earle-Sears, each running in Democratic-leaning states, faced a conundrum: criticising Trump risked losing his supporters, but embracing him too closely could have alienated moderate and independent voters who disapprove of his policies.

Trump remains unpopular: 57% of Americans disapprove of his job performance, a Reuters/Ipsos poll showed. But Democrats are not gaining support as a result, with respondents evenly split on whether they would favour Democrats or Republicans in 2026.





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UPS cargo plane with three crew members crashes in Kentucky

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UPS cargo plane with three crew members crashes in Kentucky


Smoke rises from the wreckage of a UPS MD-11 cargo jet after it crashed on departure from Louisville Muhammad Ali International Airport in Louisville, Kentucky, US, November 4, 2025. — Reuters
Smoke rises from the wreckage of a UPS MD-11 cargo jet after it crashed on departure from Louisville Muhammad Ali International Airport in Louisville, Kentucky, US, November 4, 2025. — Reuters 
  • UPS acknowledges accident but has not yet confirmed any injuries or casualties.
  • Airport houses UPS Worldport, company’s largest global air cargo hub.
  • Aerial footage shows fires ignited on ground stretching nearly a mile.

UPS said on Tuesday that one of its wide-body cargo planes with three crew members on board crashed in Louisville, Kentucky, and local police said injuries had been reported.

“UPS Flight 2976 crashed around 5:15pm local time on Tuesday, Nov. 4, after departing from Louisville Muhammad Ali International Airport in Kentucky,” the Federal Aviation Administration said in a statement. The plane was en route to Honolulu, it said.

Television channel WLKY showed video footage of the crash as it occurred, with a huge fireball erupting as the plane hit the ground.

A government source briefed on the matter said the video appeared to show the plane on fire as it went down the runway before exploding in a fireball.

UPS said it had yet to confirm any injuries or casualties due to the accident on one of its MD-11 planes.

The Louisville airport is home to UPS Worldport, a global hub for the delivery firm’s air cargo operations and its largest package handling facility in the world.

The crash will likely disrupt deliveries for UPS and its major customers, including Amazon and the United States Postal Service.

As night fell, live aerial footage over the scene broadcast by WLKY, a local CBS affiliate, showed the red-orange glow of flames from fires ignited on the ground by the crash spread over nearly a mile.

The Louisville airport said the airfield was closed after the incident, while the Louisville Metro Police Department said it was responding to reports of a plane crash and that injuries had been reported.

“Kentucky, we are aware of a reported plane crash near Louisville International Airport. First responders are on-site, and we will share more information as available. Please pray for the pilots, crew, and everyone affected. We will share more soon,” Kentucky Governor Andy Beshear said on X.

According to FAA records, the MD-11 freighter involved in the crash was 34 years old. Boeing, which owns the MD-11 program, declined to comment.

FlightRadar24 said the plane, which began operations with UPS in 2006, had flown from Louisville to Baltimore earlier on Tuesday before returning to Louisville. The flight from Louisville to Honolulu typically takes 8-1/2 hours, the flight tracking service said.





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US govt shutdown ties record for longest in history

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US govt shutdown ties record for longest in history


The US Capitol is seen in Washington, DC on November 4, 2025. — AFP
The US Capitol is seen in Washington, DC on November 4, 2025. — AFP

The US government shutdown entered its 35th day on Tuesday, matching a record set during President Donald Trump’s first term, as lawmakers voiced optimism over progress behind the scenes to end the dispute.

The federal closure appears almost certain to become the longest in history, with no major breakthroughs expected before it goes into its sixth week at midnight — although there were fragile signs in Congress that an off-ramp is closer than ever.

Senate Majority Leader John Thune set the buoyant mood music on Monday when he told reporters he felt “optimistic” that newly energised talks between warring Republicans and Democrats could end in a deal before next week.

The government has been grinding to a halt since Congress failed to approve funding past September 30, and pain has been mounting as programmes — including food aid relied on by millions of Americans — hang in limbo.

“I’ll be honest with you, I don’t think any of us expected that it would drag on this long. We didn’t believe, we couldn’t have imagined,” House Speaker Mike Johnson told a news conference arranged to mark the six-week milestone.

“It’s now tied for the longest shutdown in US history. And we didn’t think we’d have to come in here every single day — day after day after day — and repeat the obvious facts to the American people and to put on display every day what is happening here.”

Some 1.4 million federal workers — from air traffic controllers to park wardens — have been placed on enforced leave without pay or made to work for nothing, while vital welfare programs and even paychecks for active-duty troops are under threat.

Some lawmakers — including Thune and Johnson — are hoping a slew of elections taking place in New York, Virginia, New Jersey and California on Tuesday will provide the momentum they need to reopen the government.

But both sides remain dug in over the main sticking point — health care spending.

Democrats say they will only provide votes to end the funding lapse after a deal has been struck to extend expiring insurance subsidies that make health care affordable for millions of Americans.

But Republicans insist they will only address health care once Democrats have voted to switch the lights back on in Washington.

While both sides’ leadership have shown little appetite for compromise, there have been signs of life on the back benches, with a handful of moderate Democrats working to find an escape hatch.

A separate bipartisan group of four centrist House members unveiled a compromise framework Monday for lowering health insurance costs.

Democrats believe that millions of Americans seeing skyrocketing premiums as they enroll onto health insurance programs for next year will pressure Republicans into seeking compromise.

But Trump has held firm on refusing to negotiate, telling CBS News in an interview broadcast Sunday that he would “not be extorted.”

The president has sought to apply his own pressure to force Democrats to cave, by threatening mass layoffs of federal workers and using the shutdown to target progressive priorities.

Last week his administration threatened to cut off a vital aid program that helps 42 million Americans pay for groceries for the first time in its more than 60-year history, before the move was blocked by two courts.

But Trump nevertheless insisted Tuesday — in apparent defiance of the court orders — that the food aid would be disbursed only after the government shutdown ends.

Trump announced on his Truth Social platform that benefits from the SNAP program “will be given only when the Radical Left Democrats open up government, which they can easily do, and not before!”

Trump also revived his call for the elimination of the Senate filibuster — the 60-vote threshold for passing most legislation — so Republicans can pass government funding without the help of Democrats.





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