Morning Brief Podcast: Patrick McGee on the Apple-China Toxic Nexus and Where India Stands
Morning Brief Podcast (ET Online)
Anirban Chowdhury and Dia Rekhi | 40:07 Min | May 30, 2025, 10:24 AM IST
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India.com
an hour ago
- India.com
Meet World's Richest Beggar With Net Worth Of Rs 7,50,00,000, Owns Two Commercial Shops, Lives In Flats Worth Rs 1.4 Crore; He Is…
photoDetails english 2919580 Updated:Jun 21, 2025, 04:06 PM IST The Man Behind the Headlines 1 / 8 Meet Bharat Jain – often spotted outside CST or Azad Maidan in Mumbai, he might look like any other beggar. But what sets him apart is his massive net worth of Rs 7.5 crore, earned over decades through sheer persistence and smart financial decisions. His life is proof that appearances can be deceiving. Humble Beginnings 2 / 8 Born into poverty, Jain's early life was filled with financial struggles. His family often struggled to meet basic needs like food, clothing, and shelter. Without access to formal education or stable work, Jain had little choice but to turn to begging. But instead of giving in to circumstances, he used them as motivation to build a better future. 40 Years of Relentless Work 3 / 8 Begging has been Jain's full-time job for more than 40 years. He works tirelessly for 10–12 hours a day, seven days a week, with no holidays. His estimated daily income is Rs 2,000 to Rs 2,500, translating to Rs 60,000 to Rs 75,000 per month—more than many white-collar jobs in India. Investing in Real Estate 4 / 8 Jain didn't spend lavishly. Instead, he saved and invested. Over the years, he bought two spacious flats in Mumbai valued at a combined Rs 1.4 crore. These properties now house his wife, two sons, father, and brother—providing them a safe and secure life, a far cry from the hardships they once faced. Passive Income from Shops 5 / 8 In addition to his residential properties, Bharat Jain owns two commercial shops in Thane, which he rents out. These shops earn him a steady Rs 30,000 per month in rental income. This stream of passive income adds to his financial stability and shows his smart approach to long-term wealth. Education for the Next Generation 6 / 8 Thanks to his earnings and foresight, Jain ensured his children wouldn't face the same hardships. Both sons were enrolled in a reputed convent school in Mumbai and completed their education. Today, they help manage the family's stationery business, providing the family with yet another source of regular income. Why Does He Still Beg? 7 / 8 Despite having wealth, property, and a stable family business, Jain continues to beg on Mumbai's streets. Why? Some say it's simply a habit built over years. Others believe it's a sign of humility. Whatever the reason, he remains committed to the daily routine that once helped him survive. A Story That Redefines Success 8 / 8 From begging for survival to building a net worth of Rs 7.5 crore, Bharat Jain's journey is one of grit, discipline, and unlikely success. His life is a reminder that wealth can be built in unexpected ways—and that success isn't always defined by a job title or a suit.
Economic Times
8 hours ago
- Economic Times
Europe's lithium quest hampered by China and lack of cash
ET Online The key to locking down long-term lithium supply is closer ties in the so-called "lithium triangle" formed by Chile, Argentina and Bolivia, which account for nearly half of the world's reserves. Europe's ambition to be a world player in decarbonised transportation arguably depends on sourcing lithium abroad, especially in South the bloc's broader energy security and climate goals could depend on securing a steady supply of the key mineral, used in batteries and other clean energy supply Europe has run into a trio of obstacles: lack of money, double-edged regulations and competition from China, analysts told has a major head currently produces more than three-quarters of batteries sold worldwide, refines 70 percent of raw lithium and is the world's third-largest extractor behind Australia and Chile, according to 2024 data from the United States Geological Survey. To gain a foothold, Europe has developed a regulatory framework that emphasises environmental preservation, quality job creation and cooperation with local has also signed bilateral agreements with about 15 countries, including Chile and Argentina, the world's fifth-largest lithium too often it fails to deliver when it comes to investment, say experts."I see a lot of memoranda of understanding, but there is a lack of action," Julia Poliscanova, director of electric vehicles at the Transport and Environment (T&E) think tank, told AFP."More than once, on the day that we signed another MoU, the Chinese were buying an entire mine in the same country."The investment gap is huge: China spent $6 billion on lithium projects abroad from 2020 to 2023, while Europe barely coughed up a billion dollars over the same period, according to data compiled by T&E. Lagging investment At the same time, the bottleneck in supply has tightened: last year saw a 30 percent increase in global demand for lithium, according to a recent report from the International Energy Agency (IEA)."To secure the supply of raw materials, China is actively investing in mines abroad through state-owned companies with political support from the government," the IEA Belt and Road Initiative funnelled $21.4 billion into mining beyond its shores in 2024, according to the meanwhile, is "lagging behind in investment levels in these areas", said Sebastian Galarza, founder of the Centre for Sustainable Mobility in Santiago, Chile."The lack of a clear path for developing Europe's battery and mining industries means that gap will be filled by other actors."In Africa, for example, Chinese demand has propelled Zimbabwe to become the fourth-largest lithium producer in the world."The Chinese let their money do the talking," said Theo Acheampong, an analyst at the European Council on Foreign 2035, all new cars and vans sold in the European Union must produce zero carbon emissions, and EU leaders and industry would like as much as possible of that market share to be sourced year, just over 20 percent of new vehicles sold in the bloc were electric."Currently, only four percent of Chile's lithium goes to Europe," noted Stefan Debruyne, director of external affairs at Chilean private mining company SQM."The EU has every opportunity to increase its share of the battery industry." Shifting supply chains But Europe's plans to build dozens of battery factories have been hampered by fluctuating consumer demand and competition from Japan (Panasonic), South Korea (LG Energy Solution, Samsung) and, above all, China (CATL, BYD).The key to locking down long-term lithium supply is closer ties in the so-called "lithium triangle" formed by Chile, Argentina and Bolivia, which account for nearly half of the world's reserves, analysts encourage cooperation with these countries, European actors have proposed development pathways that would help establish electric battery production in Latin EU regulations would allow Latin America to "reconcile local development with the export of these raw materials, and not fall into a purely extractive cycle", said Juan Vazquez, deputy head for Latin America and the Caribbean at the OECD Development it is still unclear whether helping exporting countries develop complete supply chains makes economic sense, or will ultimately tilt in Europe's favour."What interest do you have as a company in setting up in Chile to produce cathodes, batteries or more sophisticated materials if you don't have a local or regional market to supply?" said Galarza."Why not just take the lithium, refine it and do everything in China and send the battery back to us?"Pointing to the automotive tradition in Mexico, Brazil and Argentina, Galarza suggested an answer."We must push quickly towards the electrification of transport in the region so we can share in the benefits of the energy transition," he the road ahead looks vehicles were only two percent of new car sales in Mexico and Chile last year, six percent in Brazil and seven percent in Colombia, according to the small nation of Costa Rica stood out as the only nation in the region where EVs hit double digits, at 15 percent of new car sales.
The Wire
a day ago
- The Wire
Algorithmic Trading's Next Frontier: Education and Responsible Adoption Amidst Regulatory Shifts
Algorithmic trading is rapidly reshaping global capital markets, transitioning from an institutional niche to a widespread force. Automated trading strategies now account for over half the volumes on major exchanges, with increasing accessibility for individual investors and financial professionals. This evolution, however, highlights a critical need for enhanced understanding, robust education, and clear regulatory frameworks to ensure market efficiency and investor protection. The momentum driving this shift is significant and quantifiable. The global algorithmic trading market was valued at an estimated USD 21.06 billion in 2024 and is projected to surge to USD 42.99 billion by 2030, reflecting a substantial 12.9% Compound Annual Growth Rate (CAGR) from 2025 to 2030. This impressive growth, according to Grand View Research, is largely propelled by the increasing integration of Machine Learning (ML) and Artificial Intelligence (AI) technologies into algorithmic trading solutions. As the market expands and technology advances, regulatory bodies globally are responding with clearer guidelines. Recent frameworks, such as those introduced by India's capital market regulator (SEBI) effective August 1, 2025, signal a universal commitment to formalizing algorithmic trading, particularly for retail participants. These initiatives aim to improve compliance and foster responsible adoption, thereby creating a more robust and secure ecosystem for automated strategies worldwide. "The advent of cloud infrastructure, coupled with the rise of AI, is generating immense interest in algorithmic trading," observes Nitesh Khandelwal, Co-founder and Director of QuantInsti. "While the evolving regulatory landscape aims to build a strong foundation for the adoption of technology and quantitative methods, there remains a critical need to bridge education gaps and provide access to the right tools and platforms for both professionals and new entrants." The increasing sophistication of financial technology, coupled with market growth, means that continuous skill development is no longer optional for market participants. Mastering the development, testing, and compliant deployment of algorithmic strategies is fast becoming an essential competency in modern finance. In direct response to this growing industry demand, organizations are stepping up to provide critical educational resources. For instance, QuantInsti is hosting a complimentary online session, "Build Your Quant Portfolio: First Steps into Algorithmic Trading," on Tuesday, June 24, 2025, at 8:30 AM EST (5:30 AM PST / 6:00 PM IST). This webinar will feature expert perspectives from seasoned practitioners including Jay Parmar (Quantitative Researcher, iRage), Mrinall Mahajan (Vice President at a leading global asset management firm), Tomás V. García-Purriños (Senior Asset Allocation Strategist at a prominent global bank's asset management division), and Rohan Mathews (Global Business Head, QuantInsti). The session aims to offer practical insights into developing data-driven trading strategies, understanding the role of machine learning in financial models, and navigating real-world career transitions within quantitative finance. This initiative reflects a broader industry movement to democratize access to advanced financial knowledge and cultivate a skilled workforce capable of navigating the complexities of automated markets. As algorithmic trading continues to reshape how capital markets operate, driven by significant market expansion and technological innovation, the emphasis on comprehensive education and adherence to evolving regulatory guidelines will be paramount for sustained growth and long-term industry stability. About QuantInsti: QuantInsti is a pioneering global algorithmic trading research and education institute. It focuses on empowering financial professionals and aspiring quants worldwide through educational programs and technology solutions, aiming to contribute to the global financial markets' growth and inclusion. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
