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Family offices bet on sports, from pickleball leagues to smart soccer balls

While AI startups dominate deal-making news, investment firms of the ultra-rich are still keen on sports.

DVAC conducts searches at 60 Sub-Registrar Offices across Tamil Nadu

The teams carried out searches to detect unaccounted cash and identify any irregularities in the registration process

Hindustan Zinc shares tumble 5% to 6-week low after report of govt's plan to sell 2% stake for Rs 5,000 crore

Shares of Hindustan Zinc sharply tumbled nearly 5% on Friday after a report said that the government is planning to sell as much as 2% stake in the metals major for up to Rs 5,000 crore ($525 million).The shares of the company dropped to Rs 575.20 apiece on NSE, the lowest level seen by the stock in six weeks, after the release of the Bloomberg report, citing people familiar with the matter. Shares of Vedanta, meanwhile, tumbled 3% to Rs 318.80 apiece.The Department of Investment and Public Asset Management (DIPAM) aims to launch the process this month or in July this year, the report said, adding that ICICI Securities, Axis Capital, IIFL Capital Services, and HDFC Securities are advising the government on the transaction.Hindustan Zinc shareholding patternThe Central government held nearly 28% stake in India’s largest silver producer, according to data on the company’s shareholding pattern as on March 31, 2026. Its largest promoter, Vedanta, meanwhile, held nearly 61% stake in the company.Another 3.5% stake was held by insurance companies, while foreign investors held more than 2% stake in Hindustan Zinc, as at the end of the January-March quarter of FY26.The latest report on the government's possible stake sale in Hindustan Zinc comes after the centre ramped up its disinvestment efforts. Last week, the government raised about $531 million from the sale of 2% stake in Coal India. Earlier this week, it raised $450 million by selling 6% stake in NHPC. Bloomberg also reported that the government is now mulling an OFS to sell 2% stake in LIC to raise as much as Rs 10,000 crore.ED raids at Hindustan Zinc officesThe shares of Hindustan Zinc declined earlier this week after Vedanta said that the Enforcement Directorate team visited some of its offices, confirming news reports. "We hereby inform that the Enforcement Directorate team visited some offices of our company and Hindustan Zinc, a subsidiary of the company," Vedanta said after stock exchanges sought clarification regarding news reports around ED conducting searches against Vedanta Group in FEMA probe. The Anil Agarwal-led company added that it is fully cooperating with the authorities and providing all requested information.Later, Vedanta announced that the searches had concluded and no penalty or restriction had been imposed by the authorities.Hindustan Zinc share priceHindustan Zinc shares have fallen more than 9% in one week and 6% in one month, while being down more than 6% in 2026 so far. The shares of the company have gained around 17% in one year.Also read: Did this L&T-backed AI stock actually crash 90% in one day? Here's all you need to knowIn the longer term, the stock delivered 87% returns over three years and 72% returns over five years. The company currently has a market capitalisation of more than Rs 2.43 lakh crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Govt eyes centralised tax model to curb official-taxpayer contact

• Field officers to lose powers to issue notices, conduct audits • Reforms aim to curb collusion, harassment • Phased rollout planned from October ISLAMABAD: The government has approved in principle a plan to introduce a centralised digital tax operating model, under which audits and assessments would be handled by “faceless” wings in Islamabad to reduce official discretion and direct contact between tax officials and taxpayers. Prime Minister Shehbaz Sharif approved Pakistan’s New Tax Operating Model on Thursday and commended the tax officials who developed the plan. The model is scheduled for a three-phase rollout beginning in October this year. The centralised and faceless tax model is similar to systems used in the UK, Australia, the Netherlands, Singapore and India. It is designed to eliminate physical contact between tax authorities and taxpayers to prevent corruption. The reforms have been driven by systemic leakages and widespread under-reporting detected by Pakistan Revenue Automation Limited (PRAL). Officials said the reforms were not only about curbing collusion or corruption but also about improving weak enforcement. FBR data revealed a major discrepancy in tax compliance: 8,697 individuals holding a combined Rs750 billion in bank deposits officially reported zero income in their tax returns. The same pattern was found across the financial sector, where 98.9 per cent of high-deposit individuals were found to have materially under-reported their bank flows. The real estate sector also showed similar evasion patterns. Despite maintaining active filer status, 80pc of top property purchasers were found to have systematically under-declared their transaction values to avoid their actual fiscal obligations. At present, a single tax official within a Regional Tax Office, Large Taxpayers Office or Corporate Tax Office handles the entire tax cycle — from identification and notice issuance to assessment and recovery. Officials said this concentration of duties granted immense discretionary powers, creating opportunities for taxpayer harassment, under-assessment and compromised recoveries. To address this, the new model introduces separate audit and assessment wings, both operating virtually and facelessly from a centralised hub in Islamabad. Under the proposed plan, Inland Revenue operations will be restructured into three functionally separate wings, each operating with a defined mandate, distinct statutory powers and non-overlapping responsibilities. The new framework will apply uniformly across income tax, sales tax and federal excise duty. The National Faceless Audit Wing (NFAW) will be established in Islamabad and operate from an undisclosed location. This centralised, fully digital and anonymous wing will conduct risk-based audits and continuous monitoring of withholding and advance taxes through a Central Data Hub. Case allocation will be algorithmic, and the wing will have no powers to issue demands or execute recoveries. It will be able to handle any taxpayer across the country. Taxpayers will not be allowed to visit the NFAW or submit manual documents. The National Assessment Wing (NAW), also based in Islamabad, will handle quasi-judicial functions. The anonymous and digital NAW will process assessment orders, show-cause notices, zero-rating refund approvals and exemptions, but will have no mandate for audits or field enforcement. Hearings will be held online, while dedicated hearing rooms will be established at tax offices across the country. The third wing, the Field Operation Wing, will serve as the enforcement arm of the system. It will be responsible for revenue recovery, prosecution, taxpayer registration, field verification and expansion of the tax base, but will have no authority to assess, adjudicate or modify tax demands. Field officers will now focus on data verification, assigned information, taxpayer facilitation and registration. For the first two wings, the government will post around 200 officers strictly on merit, with market-based salaries and enhanced surveillance to ensure credibility, transparency and accountability. The proposed reform is expected to tighten the net around tax evaders while reducing the compliance burden on honest taxpayers. This will be achieved mainly by eliminating officer-dependent compliance, as all interactions will be digitally logged through an online portal, ending direct contact with tax officials. To simplify filing, taxpayers will receive pre-populated returns powered by the Central Data Hub, which will automatically pull salary, banking, property and vehicle data to reduce filing time from hours to minutes. A single integrated taxpayer account will consolidate all income tax, sales tax and federal excise duty obligations, credits and refunds into a unified IRIS view. The updated system will also introduce predictable, time-bound processing with auto-escalation features to give taxpayers certainty on contingent liabilities. The FBR will also retain the authority to independently transition tax appeals into a faceless, phased format. Published in Dawn, June 5th, 2026

Key public appointments must meet standards of fairness, FCC rules

ISLAMABAD: The Federal Constitutional Court (FCC) on Thursday emphasised that appointments to important public offices must demonstrably conform to constitutional standards of fairness, transparency, institutional integrity and merit-based governance. “Public authority cannot be exercised on undisclosed considerations, nor can structured procedures be reduced to empty formalities,” observed Justice Rozi Khan Barrech in a judgement he authored. Justice Barrech was a member of a three-judge FCC bench, headed by Justice Syed Hasan Azhar Rizvi, while hearing an appeal filed by Sifatullah Khan against a March 5, 2026, Peshawar High Court (PHC) order setting aside his appointment as chairman of the Board of Intermediate and Secondary Education (BISE), Bannu, in Khyber Pakhtunkhwa. The FCC observed that the legitimacy of public administration depended not merely on the existence of power, but on the disciplined and transparent exercise of that power in accordance with the law. Court upholds PHC ruling setting aside appointment of BISE Bannu chairman It upheld the PHC order, stating that it did not suffer from any legal or constitutional infirmity warranting interference by the FCC. The petitioner had challenged the PHC verdict that not only set aside his May 13, 2025, appointment notification but also directed the controlling authority to entrust the duties of chairman to another suitable person within three months. When the post of BISE Bannu chairman fell vacant, applications were invited from eligible candidates. Through a notification dated Feb 2, 2021, the controlling authority constituted a search and scrutiny committee to interview shortlisted candidates for the post. Under its terms of reference (ToRs), the committee was mandated to evaluate and interview shortlisted candidates and recommend a panel of three officers for each post for approval by the KP chief minister. The committee conducted interviews on Sept 26, 2024. Later, the committee recommended three names, but dropped that of the petitioner. The recommendations were forwarded through various secretaries and later placed before the KP chief minister for approval. The controversy arose when a revised summary was prepared, placing the petitioner’s name at serial number four. He was subsequently appointed on deputation for three years through a notification dated Sept 13, 2025, ignoring the committee’s recommendations entirely. ‘Doctrine of pleasure’ In his judgement, Justice Barrech observed that the “doctrine of pleasure, or the existence of administrative discretion, cannot be invoked to legitimise a process which, on its face, departs from the very mechanism devised by the executive itself”. The FCC observed that administrative decisions affecting public appointments must disclose the basis for any departure from the prescribed procedure. It added that silence on the record in this regard was fatal to the validity of such action. “The doctrine of pleasure, in its constitutional and administrative sense, does not confer an unfettered licence upon the executive to act in disregard of self-imposed procedural discipline,” the judgement held. It added that while the executive might, subject to law, appoint and remove public functionaries, the exercise of such power remained subject to the rule of law and the constitutional obligation to act fairly and rationally. Published in Dawn, June 5th, 2026

Now that kidnapping has become an industry…, by Adekunle Adekoya

UNFORTUNATELY, the working week ending today was dominated by tales of anguish and woes, arising from endless kidnappings and killings. While the nation was still dealing with the kidnapping of schoolchildren and teachers in Oyo State, and Askira Uba in Borno State, gunmen attacked Ogbomoso again, this time, the offices of the Nigeria Immigration Service, NIS, and […] The post Now that kidnapping has become an industry…, by Adekunle Adekoya appeared first on Vanguard News.

Inquiry uncovers over 500 suspicious degrees, financial irregularities at KP's Gomal University

DERA ISMAIL KHAN: Inquiry reports have identified hundreds of suspicious degrees and questionable financial transactions in a major scandal involving alleged fake degrees, financial irregularities and embezzlement of public funds at Gomal University, it emerged on Thursday. According to official documents and inquiry reports seen by Dawn, the investigation was initiated on the directives of Khyber Pakhtunkhwa Minister for Higher Education, Archives and Libraries Meena Khan Afridi as part of efforts to eliminate corruption and ensure transparency in higher education institutions across the province. The university administration constituted an inquiry committee on April 23, 2026, to examine affiliation accounts and financial records related to private affiliated colleges. The committee reportedly found evidence suggesting that some deposit slips appeared suspicious or forged, while in certain cases, university dues had been deposited into accounts other than the authorised university accounts. The inquiry report further stated that the university had suffered financial losses as a result of irregular transactions and recommended further investigation into the role of individuals linked to the matter. One of the most significant findings of the preliminary inquiry relates to allegedly suspicious degrees issued through affiliated private colleges. According to university records reviewed during the investigation, a total of 514 degrees were declared suspicious. The report identified 153 degrees issued through Punjab College of Elegance, Jauharabad, and 361 degrees issued through Chenab College of Advanced Studies, Faisalabad, as suspicious and recommended that they be cancelled. It further stated that 20 students of Thal Institute of Modern Education, Layyah, were found to have received degrees despite having no enrolment record in the university’s database. Following the inquiry, key decisions were taken during the 143rd meeting of the university syndicate. An official order issued on May 23, 2026, suspended former director of affiliation Dr Muhammad Saqib Khan over allegations of corruption, financial irregularities and embezzlement of funds, and directed him to proceed on 90 days’ forced leave. According to the university administration, investigations were also continuing against former controller of examinations and current additional controller of examinations Muhammad Waseem Khan. The inquiry committee recommended a comprehensive forensic audit of the Affiliation Section, Finance Directorate, Examination Department, Financial Aid Office and other relevant offices to determine the exact scale of the alleged financial losses and identify those responsible. Following the preliminary findings, the university administration constituted a new empowered inquiry committee and directed it to submit a comprehensive report within 30 days. When contacted by Dawn, Gomal University Vice Chancellor Prof Dr Muhammad Zafar Iqbal confirmed the inquiry report and said the investigations were being conducted in a transparent manner. He said strict action would be taken against any individual found responsible, in accordance with the law and university regulations.

Government to transform Revenue administration with integrated Sub-Registrar offices: Ponguleti

Rajeev Thakkar on when to hold, when to exit, and why most get it wrong

For most investors, the focus is often on finding the right stock, entering at the right valuation, and identifying the next multibagger. Far fewer spend time understanding what may be the more difficult aspect of investing—knowing when to sell.Speaking at the ET Alpha Wealth Summit on Thursday on "The Art of the Exit," Rajiv Thakkar, CIO and Director at PPFAS Asset Management said that successful investing is not just about buying well but also about staying invested long enough for compounding to work. In fact, before discussing reasons to sell, he spent considerable time explaining why investors should avoid selling in the first place.According to Thakkar, one of the biggest mistakes investors make is selling because a stock has not moved for a few months.Also Read | ET Alpha Wealth Summit: Future alpha may emerge from neglected markets and asset classes, says Kalpen Parekh Investors often spend significant effort researching a company, understanding management quality, assessing industry prospects and evaluating valuations. Yet after purchasing the stock, many lose patience if prices remain stagnant for six months or a year.https://youtube.com/shorts/RiLj-X02NNE?feature=share"Investments are meant for wealth creation, not entertainment," he said, cautioning against treating investing like a source of excitement or constant action.Another common trigger for unnecessary selling is reacting to news flow. Markets are constantly bombarded with information—wars, elections, crude oil fluctuations, interest-rate decisions, capital flows and economic data. Investors who react to every headline often end up making poor decisions.To illustrate this, Thakkar recounted the story of an investor who received advance information about the severity of the Covid outbreak in early 2020. Acting on that information, the investor sold his technology stocks before the market crash. While the prediction turned out to be accurate, fear prevented him from re-entering the market, and he ultimately missed one of the strongest rallies in technology stocks.The lesson, according to Thakkar, is that even correct information does not necessarily translate into successful investment outcomes. Thakkar was particularly critical of the concept of "profit booking."Investors often feel compelled to sell simply because a stock has appreciated significantly. However, he argued that wealth is created by allowing successful investments to compound rather than by repeatedly locking in gains.Frequent buying and selling may benefit brokers, exchanges and tax authorities, but it often works against long-term investors. Hyperactivity in portfolios can destroy wealth by interrupting compounding and increasing costs.Similarly, investors should avoid selling because another stock appears more attractive. This "buyer's remorse" mindset frequently causes investors to abandon good businesses prematurely in pursuit of seemingly better opportunities."If you manage to find a genuinely good business with strong management, a large opportunity set and reasonable valuations, the best course of action is often to simply stay invested," he said.Thakkar emphasised that investors in taxable jurisdictions such as India should maintain low portfolio turnover whenever possible. Unlike institutional structures such as mutual funds or investors in tax-free jurisdictions, individual investors face taxes and transaction costs every time they trade. Excessive churn can significantly reduce long-term returns.For wealthy investors, family offices and HNIs, the ability to remain invested and minimise unnecessary transactions often becomes a major source of compounding advantage.Also Read | ET Alpha Wealth Summit: India could unlock a $5 trillion export opportunity through FTAs, says Saurabh Mukherjea While most reasons for selling are flawed, Thakkar identified several situations where exiting an investment becomes necessary. The most obvious reason is the need for capital. If an investor requires money for a business opportunity, acquisition or personal objective, selling investments may be entirely justified. More importantly, investors must be willing to acknowledge mistakes.If an investment thesis turns out to be wrong because of flawed analysis, poor due diligence or changing circumstances, the best course is often to exit quickly rather than averaging down endlessly.According to Thakkar, investors who recognise mistakes early frequently outperform those who identify good opportunities but refuse to sell losing positions. Capital trapped in poor investments cannot be deployed into better opportunities. Fraud, naturally, represents an immediate reason to exit.One of the more challenging selling decisions arises when industries face structural disruption. Questions such as whether newspapers can survive the internet, whether thermal power can coexist with renewable energy or whether traditional automobile manufacturers can adapt to electric vehicles rarely have straightforward answers.Thakkar suggested that investors should not react impulsively but should continuously evaluate incoming evidence. Investment decisions should be driven by facts rather than sentiment. If the underlying business continues to deteriorate because of technological or structural change, investors must eventually acknowledge reality and exit.At the same time, distinguishing genuine disruption from temporary noise remains critical. Exceptional businesses are not immune to becoming overvalued. Thakkar pointed to situations where valuations become so excessive that future growth is already fully reflected in stock prices. In such cases, taking profits, paying taxes and reallocating capital may be sensible.He also noted that investors may sell a reasonably valued investment if a significantly superior opportunity emerges elsewhere.During the question-and-answer session, investors raised concerns about stocks that stop performing despite sound fundamentals. Examples such as Maruti Suzuki, Bharti Airtel and even silver investments highlighted a common dilemma: should investors exit after years of gains and subsequent consolidation?Also Read | MF Tracker: Can ICICI Prudential Multicap Fund sustain its strong track record in a volatile market? Thakkar's response was that even excellent businesses can spend years moving sideways. Companies such as Hindustan Unilever, Infosys and Bharat Electronics have all gone through extended periods of stagnant share-price performance despite remaining fundamentally strong businesses.Investors should therefore distinguish between stock-price performance and business performance. As long as the underlying business continues to execute well, temporary market stagnation alone is not a sufficient reason to sell.For investors worried about selling too early, Thakkar recommended a phased approach. Instead of attempting to identify exact market tops, investors can gradually reduce exposure over time. For instance, if a stock appears significantly overvalued, an investor might sell a portion every month rather than exiting entirely in one transaction.This systematic approach helps manage the emotional difficulty of selling while reducing the risk of poor timing. Another important consideration is position sizing. Addressing a question about highly successful investments such as Nvidia, Thakkar noted that even outstanding businesses can become disproportionately large components of a portfolio.When a single stock grows from a small allocation into a dominant position, investors face a different risk—wealth preservation rather than wealth creation. His solution is gradual trimming. Investors can periodically reduce oversized positions to maintain comfortable portfolio weightings while still participating in future upside.This approach may not maximise returns, but it significantly reduces the risk of catastrophic losses and helps investors sleep better during periods of volatility.Thakkar concluded by stressing the importance of diversification and long-term investing. Most individuals create wealth through a single business, profession or sector. Their financial portfolios should therefore diversify away from that concentration rather than amplify it.Whether through mutual funds, retirement vehicles such as NPS, EPF and PPF, or diversified portfolios, investors should focus on owning inflation-protected assets for long periods. "The lower the churn in a portfolio, the greater the opportunity for compounding," he said.Ultimately, successful investing is not about perfectly timing every entry and exit. It is about avoiding unnecessary activity, admitting mistakes quickly, remaining patient with good businesses and ensuring that no single investment becomes large enough to threaten long-term financial stability.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.

South Korea’s wealth fund to tap alternative assets with Tokyo office

It will be the fund's sixth overseas outpost, joining offices in New York, London, Singapore, Mumbai and San Francisco.

S’west private schools threaten protest over abducted Oyo teachers, pupils

"Should the situation persist till June 10 and the victims are not released, all proprietors, staff and students of NAPPS in the South-West would express our minds through peaceful protest in all our cities to the Houses of Assembly and Governors' Offices in the six states of the South-West," Olatona said. The post S’west private schools threaten protest over abducted Oyo teachers, pupils appeared first on Vanguard News.

In Korea, election night coverage becomes a visual feast again

South Korea's major television networks once again set out to package Wednesday's local elections as prime-time entertainment, layering CGI animation, pop-culture parody and, for the first time on a large scale, generative AI over their live vote counts. In the election for mayors and provincial governors, along with hundreds of lower offices, President Lee Jae Myung's governing Democratic Party won most of the major races, while the conservative People Power Party held Seoul and its traditional

Polymarket believes archrival Kalshi could be spying on its NYC offices, employees: ‘Too many coincidences’

“There is bad intention in how they copy us. They’re breathing down our neck," Polymarket’s Matthew Modabber told The Post.

The Caracas capillaries: How Maduro’s arrest shattered Europe’s left-wing slush fund

When the money stops, the entire architecture collapses — and two decades of deniability collapse with it. The morning of May 27, 2026, armed agents of Spain‘s elite Civil Guard UCO unit raided the Madrid headquarters of the ruling PSOE on Calle Ferraz. Just days earlier, they searched the offices of former Prime Minister Jose […]

Investigators raid Indonesia free meals agency office

Raid follows the sacking of the agency chief over governance and food quality concerns, with employees barred from entering the agency's offices.

Vedanta, Hindustan Zinc shares fall after metals giant confirms ED visits to offices

The shares of Vedanta and Hindustan Zinc declined 1% each on Wednesday after the former confirmed in an exchange filing that the Enforcement Directorate team visited some of its offices, confirming news reports."We hereby inform that the Enforcement Directorate team visited some offices of our company and Hindustan Zinc, a subsidiary of the company," Vedanta said after stock exchanges sought clarification regarding news reports around ED conducting searches against Vedanta Group in FEMA probe. The Anil Agarwal-led company added that it is fully cooperating with the authorities and providing all requested information.In another exchange filing released on Tuesday, Vedanta said that the proceedings are underway. “We wish to reiterate that the Company is and will continue to comply with SEBI Listing Regulations and keep the stock exchange(s) duly informed of all material information / events, including price sensitive information(s), in accordance with the applicable provisions,” it added.Also Read | Vedanta says ED officials visited some of its offices, Hindustan Zinc unitsThe Economic Times reported on Tuesday, citing officials, that ED conducted searches at premises linked to the Vedanta Group in Delhi and Mumbai as part of a Foreign Exchange Management Act (FEMA) investigation.In a quote to ET Bureau, Vedanta spokesperson said, "We are extending full cooperation to the authorities and are providing all information sought. The company remains committed to compliance with all applicable laws and regulations. As the matter is currently under regulatory process, we are unable to comment further at this stage."Also Read | ED searches against Vedanta Group in FEMA caseICRA's ratings upgradeLast week, ratings agency ICRA removed the company from watch with developing implications after greater clarity on the allocation of assets and liabilities under the ongoing demerger scheme.ICRA upgraded Vedanta’s long-term rating to AA+ (Stable), assigned a stable outlook and reaffirmed the short-term rating. "The rating action factors in ICRA’s expectation of a further strengthening in the credit profile of the Vedanta Group in FY2027, building on the considerable improvement witnessed in FY2026. This has been supported by a sharp increase in base metal prices, which has contributed to a strong financial risk profile for the Group, which reported an OPBDITA of $6.7 billion in FY26,” the ratings agency said.Also Read | Vedanta shares jump 2% to hit fresh 52-week high. What’s behind the surge?Vedanta share priceVedanta shares have tumbled 6% in one week but gained around 23% in one month. The stock recently adjusted to its mega demerger. Vedanta in April had announced that every eligible shareholder would receive one share each of Vedanta Aluminium Metal (VAML), Talwandi Sabo Power (to be renamed Vedanta Power), Malco Energy (to be renamed Vedanta Oil and Gas) and Vedanta Iron and Steel for every share held in the parent company, marking one of the biggest corporate restructurings in India’s metals and mining sector. Investors are now awaiting the listing of the four new companies that spun out of the mining conglomerate.Also Read | Vedanta demerger: At what price will each of the four new companies list? Check cost of acquisitionHindustan Zinc share priceHindustan Zinc shares have fallen around 4% in one week but gained 5% in one month and more than 2% so far in 2026. The stock is up over 33% in one year. In the longer term, the shares of the company delivered 104% returns over three years and 93% returns over five years.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

FBI launches Operation Summer Heat 2.0 after last year’s ‘historic success’

FBI Director Kash Patel announced Tuesday the start of “Operation Summer Heat 2.0,” a nationwide violent crime and narcotics crackdown that officials say will expand on last summer’s initiative credited with thousands of arrests, major drug seizures, and the recovery of hundreds of endangered children. The operation, which will involve all 56 FBI field offices […]

California primary vote count could take days or even weeks — Here's why

While Tuesday marks Election Day in California, the results for races across the state may not come in for days, or even weeks. In the Golden State, mail-in ballots are valid so long as they are postmarked by Election Day and arrive to county election offices by June 9. Voters in California can also return...

Federal govt extends closing times for markets, restaurants

The federal government on Tuesday, amid deliberations over its ongoing austerity measures, decided to extend the operating hours of shops, markets, restaurants and other commercial outlets citing longer daylight hours and rising summer temperatures. The decision was taken at a meeting of the Committee for Monitoring and Implementation of Austerity Measures, chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar. The government had announced unprecedented austerity measures on March 9 in the wake of the Middle East war to deal with the global energy crisis, which had arisen due to the closure of the Strait of Hormuz. As per the revised schedule, the closing timings are as follows: Shops, markets, malls, and general retail: 9pm Restaurants, cafes and eateries: 11pm (takeaway and delivery services exempt) Marriage halls and event venues: 10pm (no change in timings) Essential services (pharmacies, hospitals, fuel stations, IT & telecom-related services) are exempted. “The Committee also directed provincial governments to ensure effective implementation of these guidelines in coordination with federal authorities,” the statement said. On May 11, PM Shehbaz had extended the countrywide austerity drive till June 13. The measures extended included 50 per cent reduction in fuel allowance for official vehicles, with the exemption of operational vehicles such as ambulances and public buses. Other steps included grounding 60pc of official vehicles and a complete ban on foreign visits by ministers and government officials, excluding those deemed essential for the country’s interests, as specified the last time. Among previously announced austerity measures, the working week for all government offices was reduced to four days — Monday to Thursday. However, the additional holiday was not availed by banks. It did not apply to the agriculture and industrial sectors, or essential services such as hospitals and ambulance services. Under the measures, the salary of parliamentarians was to be cut by 25pc, while employees of state-owned enterprises (SOEs) and government-supervised institutions were to see their salaries cut by 5pc-30pc. Expenses of government departments were reduced by 20pc, along with a ban on purchasing vehicles, furniture, air conditioners and other items for government departments.

Legarda to bolster DepEd, modernize Adopt-a-School, face literacy crisis

MANILA, Philippines — Senate President Pro Tempore Loren Legarda, chairperson of the Senate Committee on Basic Education, has led the push for education reforms. That is in hopes to finally allow the optimization and rationalization of Schools Division Offices, and modernization of the Adopt‑a‑School program to draw stronger private sector and community support. She also