sovereign matter

US prosecutors suspect Bangkok-based OBON Corp.—a company central to Thailand's national AI strategy—of acting as the middleman in a $2.5 billion scheme to smuggle Nvidia-equipped Supermicro servers into China, with Alibaba among the alleged end customers. Bloomberg identified OBON as the unnamed "Company-1" in a March federal indictment that charged Supermicro co-founder Wally Liaw with violating US export control law. OBON and Alibaba have not been charged.

India's economic future hinges on AI, with a potential $500 billion GDP boost by 2030, according to an IBM and IndiaAI study. While corporate enthusiasm is high, a significant 'inflection gap' exists in AI adoption. Addressing data sovereignty, infrastructure, and a massive talent hunt are crucial for realizing this potential.

Electronic Gold Receipts (EGRs) are now trading on the NSE, revolutionizing India's gold market. This digital format, backed by physical gold in SEBI-regulated vaults, offers investors a secure and transparent way to hold the precious metal. EGRs aim to overcome traditional concerns like purity and storage, integrating gold more closely with the capital markets.

Nvidia CEO Jensen Huang joined Donald Trump's Beijing summit at the last minute, boarding Air Force One in Alaska, but China still won't approve H200 AI chip purchases. Trump said Beijing "chose not to" because it wants homegrown silicon. With DeepSeek now running on Huawei chips and 10 cleared Chinese firms yet to place orders, Nvidia's China stalemate looks set to drag on.

Trump’s philosophy is often mistaken for the absence of philosophy, but absence can become a system if practised with sufficient confidence. Every problem becomes a deal, every deal becomes a performance, every performance requires a winner, and the winner, ideally before anyone checks the paperwork, is Donald Trump.

India is no stranger to austerity measures. Every time the country needs to tighten its belt, leaders seize the opportunity to present themselves as making sacrifices and sharing in the hardships of ordinary citizens

Superstar Rajinikanth has surprised producer Thenappan by gifting him a gold chain following the successful re-release of their 1999 blockbuster, 'Padayappa'. This thoughtful gesture, breaking industry norms where producers typically reward actors, highlights Rajinikanth's humility and gratitude. The film's enduring popularity after 25 years is evident in its strong theatrical performance, sparking hopes for a potential sequel.

nthropic CEO Dario Amodei keeps predicting that AI will trigger mass unemployment on a global scale. But with an Anthropic IPO reportedly targeting a $900 billion valuation, his warnings may be doing double duty—as both public service and investor pitch. Anthropic's own labor research shows the reality is far more gradual. And voices from Sam Altman to Meta's Yann LeCun are increasingly pushing back.

Jeff Bezos' AI venture, Project Prometheus, has secured a massive $10 billion in new funding, valuing the company at $38 billion. This AI lab, co-led by Bezos, focuses on creating tools for designing and manufacturing physical products, targeting industries beyond software. Bezos is actively involved in the company's strategic direction, aiming to enhance business efficiency.

San Marino’s World Cup story is one of football’s most enduring underdog narratives, defined less by results than by persistence. Ranked 211th and made up largely of part-time players, they continue to face Europe’s elite in every qualifying cycle, absorbing heavy defeats while occasionally producing historic moments. Their journey captures what it means simply to belong in the global game.

US & Iran are taking a high-risk gamble over Hormuz. With doubts hanging over a scheduled second round of talks today, there are three ways this can go. Return to direct conflict. Iran negotiating under pressure. Or a prolonged stalemate

India's nuclear ambitions have reached a pivotal stage with the Prototype Fast Breeder Reactor achieving criticality, marking a significant step in its three-stage nuclear program. This advancement positions India as a leader in advanced nuclear technology, bolstering its drive for energy self-reliance and security amidst a rapidly expanding power sector.

High-stakes diplomatic talks between U.S. Vice President J.D. Vance and Iran in Pakistan concluded without an agreement, deepening uncertainty over a Gulf ceasefire. Vance acknowledged the failure, stating Iran rejected Washington's "final and best offer," while Iran cited U.S. unwillingness to recognize its "legitimate rights and interests."

Trump has treated the UK the way he has treated Europe, NATO and anyone else he thinks is not carrying its water. Starmer, in contrast, has tried to draw a line. He has said Britain will not repeat the “mistakes of Iraq” and will act only on a “lawful basis”. Even that, however, pales in comparison to the bluntness coming out of Europe. France’s Emmanuel Macron has openly mocked Trump’s inconsistency, saying “you have to be serious” and warning that a leader “can’t contradict himself every day.” Against that, Starmer’s irritation feels less like defiance and more like discomfort.

Iran-US negotiations in Islamabad concluded without a breakthrough, revealing deep strategic divides and jeopardizing a fragile ceasefire. Despite Pakistan's mediation, disagreements over Iran's nuclear program and control of the Strait of Hormuz led to a stalemate, with both sides blaming each other for the failure.

Fundamentally, foreign exchange reserves tell us about a country’s ability to service its external debt. The more robust the cover, the better a country’s position of economic strength. So how strong is India placed in terms of foreign exchange reserves?