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A day before his swearing-in as the chief minister of <keyword id="19896313" type="General" weightage="20" keywordseo="Andhra-Pradesh" source="keywords">Andhra Pradesh</keyword>, <keyword id="19910623" type="General" weightage="20" keywordseo="TDP" source="keywords" meta.keywordsubtype="org" meta.entityname="TDP" meta.hostid="153" meta.entityid="TDP">TDP</keyword> supremo <keyword id="20138505" type="General" weightage="20" keywordseo="n-chandrababu-naidu" source="keywords">N Chandrababu Naidu</keyword> on Tuesday announced that <keyword id="19926152" type="General" weightage="100" keywordseo="Amaravati" source="keywords">Amaravati</keyword> will be the <keyword id="22018772" type="General" weightage="20" keywordseo="sole-capital" source="keywords">sole capital</keyword> of the state. Naidu made this announcement, addressing a joint meeting of TDP, BJP and Janasena legislators, where he was unanimously elected as NDA leader in the Andhra Pradesh Legislative Assembly. "In our government, there will be no games under the guise of three capitals. Our capital is Amaravati. Amaravati is the capital," asserted Naidu. As the first chief minister of bifurcated Andhra Pradesh between 2014 and 2019, he had floated the idea of Amaravati as the capital city. However, this brainchild of Naidu suffered a setback in 2019 when the TDP lost power and Y S Jagan Mohan Reddy-led YSRCP won a landslide victory. Reddy poured cold water on the <keyword id="3924608" type="General" weightage="20" keywordseo="Amaravati-capital" source="Orion">Amaravati capital</keyword> city plans and propounded a new theory of three capitals, which Naidu has now replaced with the decision to have a single capital. The NDA alliance of TDP, BJP and Janasena won a landslide victory in the recently concluded simultaneous Lok Sabha and assembly elections in the state with a brute majority of 164 assembly and 21 Lok Sabha seats. The triumph has breathed new life into the Amaravati capital city project.

Chandrababu Naidu announces Amaravati as sole capital city of Andhra Pradesh

<ul class="summary-list"><li>Dmitry Medvedev is at it again, threatening Western leaders with nuclear attacks if they cross a line.</li><li>Medvedev says no leaders in Washington, Paris, and London won't "be able to hide" if they send troops to Ukraine.</li></ul>Former Russian President Dmitry Medvedev on Monday threatened nuclear strikes on Western leaders who want to send their troops to Ukraine, doubling down on his increasingly hostile rhetoric toward the North Atlantic Treaty Organization."The choir of irresponsible bastards from among Western elites calling for sending their troops to the nonexistent country is expanding," Medvedev <a target="_blank" href="https://twitter.com/MedvedevRussiaE/status/1787427096320430252">wrote in a message on social media.</a>He pointed to leaders and politicians in the US, UK, France, the Baltics, and Poland who floated the idea of supplying Kyiv with troops.Medvedev said any deployment of NATO troops would essentially be a direct engagement in war, and that Russia would have to respond "not within Ukraine's borders.""In that case, none of them will be able to hide either on Capitol Hill, or in the Elysee Palace, or in Downing Street, 10. It will be a global catastrophe," Medvedev added.The former president, who held the office from 2008 to 2012, cited retaliation as a reason Russia recently started running drills for "the use of <a target="_blank" href="https://www.businessinsider.com/ukraine-war-putin-russia-nuclear-weapons-threats-what-could-happen-2022-10">nonstrategic nuclear weapons.</a>"Russia on Monday <a target="_blank" href="https://www.bbc.com/news/articles/cq5npwdv3wzo">announced drills with tactical nukes near Ukraine</a>, which it said are being held in response to recent "threats" from the West.Strategic nuclear weapons are those typically launched via intercontinental ballistic missiles. The type referred to by Medvedev typically <a target="_blank" href="https://www.businessinsider.com/putin-warns-west-russian-tactical-nukes-being-put-in-belarus-2023-6">provides smaller yields</a> — though they can still be devastating — and can be delivered through a variety of means such as shorter-range missiles or even trucks.Russia has been using threats of nuclear war to posture against countries supporting Ukraine, with repeated references to nonstrategic nukes potentially being used if certain red lines set by Moscow are crossed.Western nations "must realize that we also have weapons that can hit targets on their territory," <a target="_blank" href="https://www.businessinsider.com/putin-menaced-west-nuclear-war-troops-ukraine-russia-nato-strike-2024-2">Russian leader Vladimir Putin said in March.</a>But such threats have also been <a target="_blank" href="https://www.businessinsider.com/very-hard-to-say-putin-bluffing-nuclear-weapons-cia-director-2022-10">categorized as bluffs</a> by Western leaders, who say the Kremlin hopes to scare Ukraine's allies off.Meanwhile, NATO has continued to supply Ukraine with about <a target="_blank" href="https://www.ifw-kiel.de/topics/war-against-ukraine/ukraine-support-tracker/">$168 billion</a> in weapons, arms, and other forms of aid. Last month, the US approved a package worth <a target="_blank" href="https://www.businessinsider.com/ukraine-should-treat-latest-aid-like-the-last-war-experts-2024-4">$61 billion to Kyiv,</a> which Ukraine says is vital to maintaining its defensive positions against Russia's advance.As for Medvedev, the former president has been <a target="_blank" href="https://www.businessinsider.com/ex-russian-president-medvedev-became-key-warmonger-since-ukraine-invasion-2023-1">loudly pro-war </a>since Russia invaded Ukraine. He regularly takes to social media to call for extreme measures in response to perceived Western grievances, such as a <a target="_blank" href="https://www.businessinsider.com/medvedev-suggests-russia-bombs-the-hague-after-putin-arrest-warrant-2023-3">hypersonic missile strike on the Hague</a> after it issued an arrest warrant for Putin.In April, he said each NATO soldier sent to Ukraine should have a <a target="_blank" href="https://www.businessinsider.com/dmitry-medvedev-wants-maximum-reward-bounty-nato-troops-ukraine-2024-4">"maximum reward" bounty</a> placed on their heads.NATO has said that it's not deploying its own troops in Ukraine and isn't seriously planning to do so, though some allied leaders say they might be open to such a possibility.French President Emmanuel Macron, for example, has repeatedly said he <a target="_blank" href="https://www.businessinsider.com/nato-emmanual-macron-france-join-ukraine-war-on-russia-conditions-2024-5">wouldn't rule out sending troops to aid Kyiv.</a> Medvedev often responds to Macron directly, insulting him on social media in English, Russian, and French.Experts in Russian politics previously told <a target="_blank" href="https://www.businessinsider.com/ex-russian-president-medvedev-became-key-warmonger-since-ukraine-invasion-2023-1">Business Insider's Sinead Baker</a> that Medvedev's hostile rhetoric might be an attempt to impress Putin."Medvedev is like one of the weaker guys in Tony Soprano's circles, who just has to go and do horrible things to appease the boss," Edward Lucas, senior advisor at the Center for European Policy Analysis, said.Medvedev now serves as deputy chairman of Russia's Security Council.

Russia's former president threatened nuclear attacks on Western capital cities if NATO sends any troops to Ukraine

<ul class="summary-list"><li>Why take the subway or sit in traffic when you can swim home from work? </li><li>Some Swiss locals commute from the office by riding the currents of the Rhine and Aare rivers.</li></ul>Typically, the words "refreshing" and "<a href="https://www.businessinsider.com/los-angeles-to-berkeley-super-commute-plane-student-high-rent-2023-7">commute"</a> don't belong in the same sentence — in America, at least. (If you're reading this while sweating through your suit on the subway, I apologize in advance). But in Switzerland, some workers have cracked the code on beating the heat and rush hour traffic with refreshing river commutes. During the summer months in Bern, Switzerland's capital city, residents and tourists can often be found riding down the strong currents of the Aare River, their belongings tucked safely away in waterproof bags that float behind them. While most people swim in the Aare River for fun, others use it as a relaxing and efficient means of transportation. "I only had like 30 seconds walking from my office to the river," Local resident Evelyn Schneider-Reyes told the <a href="https://lenews.ch/2023/06/09/how-switzerlands-best-river-swim-became-a-summertime-commute/" target="_blank" rel="noopener">Swiss newspaper Le News</a> in June. "I had an 'Aare Bag', where I put all my clothes, my smartphone, wallet and shoes. I put on my bathing suit and swam home."In total, the commute takes her around 15 minutes in the water, she told the local news outlet. Videos showcasing the unique river commute went viral last summer, with one TikTok from travel account PubityEarth garnering over 2 million views. An hour north of Bern in the city of Basel, Switzerland a similar pilgrimage takes place along the <a href="https://www.basel.com/en/activities-excursions/swimming-rhine">Rhine River</a>, as travel blogger <a href="https://www.tiktok.com/@alexas_adventures/video/7133666928660368645" target="_blank" rel="noopener">@Alexas_adventures</a> documented in a TikTok last summer. Bathing houses along the river serve as pit stops for swimmers to rinse off and change. "Everyone has a dry bag called a 'wicklefisch'. It's in the shape of a fish to store their stuff," she said in the video that has since received 20k views. "Before work, after work, adults, children, dogs, everyone floats down the Rhine because the current is so strong."While the strong currents in the Aare and the Rhine are great for speedy transportation, they can also be dangerous if you don't know how to navigate the river and follow certain <a href="https://www.bern.ch/themen/sicherheit/pravention/aare-you-safe-english" target="_blank" rel="noopener">best practices.</a>"Going for a swim or taking a dip in the river Aare is part of having fun in summer for the people of Bern," the city's government advises. "But unfortunately, tricky situations and serious incidents occur every summer as a result of carelessness."Do you have a <a href="https://www.businessinsider.com/commuting-between-boston-and-new-york-via-seaplane-tailwind-2023-4">unique way</a> you commute to the office? Email this reporter at htowey@insider.com to share your story.

These workers in Switzerland commute to work by floating down a river

<ul><li><keyword id="16258067" type="General" weightage="20" keywordseo="Equal-weight-indices" source="Orion">Equal-weight indices</keyword> give equal weightage to all the stocks making up a benchmark. </li><li>On an equal-weight index, no stock can unduly influence the index movement and all stocks get almost the same representation – making for a fairly well-diversified portfolio. </li><li>When many of the market constituents witness strong rise in stock prices, an equal-weight index can deliver better returns than a concentrated portfolio. </li><li>In an equal-weight index, as a result of the same weightages to all stocks, the level of sector concentration also becomes reduced.</li></ul>Many retail investors would be familiar with regular index investing. This often entails investing in funds that track indices such as the Nifty 50 and the Nifty 100. The stocks that form a part of these indices are given <keyword id="16258068" type="General" weightage="20" keywordseo="weightages-based-on-free-float" source="Orion">weightages based on free float</keyword> <keyword id="118864" type="General" weightage="20" keywordseo="market-capitalisation" source="Orion">market capitalisation</keyword> – we’ll come to it in a bit. Therefore, each stock has a different weightage in the overall index. An interesting variant that has been gaining traction is equal-weight index investing. So, these are indices that accord equal weights to stocks. Here’s more on what goes into equal-weight indices and what you must understand before investing in them. How free-float and equal-weight indices vary As mentioned earlier, the regular Nifty 50 and Nifty 100 indices are based on free-float market capitalisation. Now, there are broadly two categories of shareholders in listed companies. Promoter and promoter groups, and trusts backed by them are one category. Public shareholders form the second type. So, the shares of promoters are not traded actively or are allowed only with many restrictions. The rest of the shares are free float and allowed to be traded in the markets. Now, the free float shares multiplied by the share price gives the free float market capitalisation. While constructing the index, the stocks with higher free-float market capitalisation get higher weightages than those with lower numbers. Equal-weight indices, on the other hand, do away with such restrictions based on free- float market capitalization. These indices give equal weightage to all the stocks making up a benchmark. For example, all stocks get around 2% weightage in the Nifty 50 Equal weight index. In the Nifty 100 Equal Weight index, all stocks are given a weightage of around 1%. Broad-based stock and sector representation Investing in an equal-weight index has its fair share of advantages. Here are a few of those. Truly well-diversified portfolio with same weightages: Let us take the Nifty 50 as an example. The top 10 stocks in the Nifty 50 account for nearly 58% of the portfolio. A few stocks can have a disproportionate impact on the movement of the index. In the Nifty 50 Equal Weight index, on the other hand, the top 10 stocks make up only a little over 20% of the portfolio. No stock can unduly influence the index movement and all stocks get almost the same representation, thus making for a fairly well-diversified portfolio. Chances of outperforming in broader market rallies higher: When many of the market constituents start rallying and witness strong rise in stock prices, an equal-weight index can deliver better returns than a concentrated portfolio. In the rally after the Covid-19 crash in March 2020, stocks across segments rallied. Such moves help equal-weight indices as most stocks get to participate in the rally. And in a falling market, they may cushion downsides better as weightage to individual stocks is low (just 2% in the case of Nifty 50 Equal Weight index). In effect, the movements on the upside and downside are tempered. In a narrower market rally led by very few stocks, a free-float market capitalization index may perform better. An example would be the markets in 2018-19. Lower sectoral concentration: In the equal-weight index, as a result of the same weightages to all stocks, the level of sector concentration also becomes reduced. For example, the financial services sector gets 34.56% weightage in the Nifty 100 index. But in the Nifty Equal Weight index, the financial services segment constitutes only 22.05%. Therefore, there is a better spread of exposure across sectors and a reduction in concentration in select sectors. This diffusion reduces the risks associated with the portfolio. Also, some sectors such as automobiles get better representation in the equal-weight index than the free-float one. As a natural profit-booking index: In an equal-weight index, the rebalancing of constituents happens once every six months. Therefore, even if any stock rallies heavily during a period, its weightage would be restricted to the original equal-weight index levels. This is akin to taking profits periodically in a systematic way. For a retail investor, the optimal way to invest in an equal-weight index is through an index fund that tracks and replicates, say, the Nifty 50 equal weight index. Such an offering could be a diversifier to the portfolio. To further understand product suitability, it is best to seek help from a financial advisor before investing. (The author is the Head Investment Strategy at ICICI Prudential Asset Management Company)

Equal-weight index: For diversified investments with low volatility

<ul class="summary-list"><li>A Dutch developer is building a sprawling, <keyword id="14256716" type="UNKNOWN" weightage="60" keywordseo="floating" source="Orion">floating</keyword> city in the <keyword id="11900669" type="UNKNOWN" weightage="60" keywordseo="maldives" source="Orion">Maldives</keyword>.</li><li>The city is slated to house 20,000 people in a web of 5,000 floating buildings.</li></ul>A Dutch architectural firm is on a mission to create a floating city located just 10 minutes away from Male.The Maldives Floating City, designed by Dutch firm Waterstudio, is an expansive mass of modular floating platforms in the pattern of a brain coral. Koen Olthuis, the founder of Waterstudio, the architectural firm behind the city, told Insider that the project is a collaboration between the Dutch Docklands, a local developer, and the local government in Male. One of its aims is to free up more room for housing on the mainland.Olthuis told Insider that building the floating city would also offer a solution to the threat of rising sea levels for generations to come. "It will be a walkable city with floating streets, utilizing boats for the transport of goods and people within the city, and to the capital city of Male," Olthuis said.He added that the cost of living in the city itself would be comparable to local land-based developments in the Maldives. "In 2027, we should have 20,000 people living in 5,000 houses," Olthius estimated.<div type="image" title="A mock-up image of the Maldives Floating City" height="864" width="1152" msid="92376838" hostid="261" sizebytes="101898"></div><a href="https://edition.cnn.com/style/article/maldives-floating-city-spc-intl/index.html">According to CNN</a>, the city will be opening up its first units for viewing this month, with prices starting at $150,000 for a studio apartment, and going up to $250,000 for a family home. The developers expect residents to begin moving into the <keyword id="11970797" type="UNKNOWN" weightage="60" keywordseo="island" source="Orion">island</keyword> in early 2024, with the whole city due to be completed by 2027. Per the developer's <a href="https://maldivesfloatingcity.com/wp-content/uploads/2021/03/20210314-Press-release-MFC-ENGLISH-N.pdf">press release</a>, the city will comprise modular, hexagonal segments connected to an outer ring of barrier islands. The bottom portion of the city will be attached to stabilizers that buttress it against the waves while also keeping the buildings and structures safe against the current.The idea for the Maldives Floating City is similar to that of <a href="https://www.businessinsider.com/floating-city-busan-south-korea-un-oceanix-rising-sea-levels-2022-4">Oceanix</a>, a concept for a <a href="https://www.businessinsider.com/floating-cities-history-utopia-government-2019-4">floating city</a> made up of interconnected platforms. Busan, a port city in South Korea, has agreed to host the UN-backed project, which is set to accommodate around 12,000 people. Patrick Verkooijen, the CEO of climate think-tank the Global Center on Adaptation, told <a href="https://edition.cnn.com/style/article/maldives-floating-city-spc-intl/index.html">CNN</a> that he thought the idea of a floating city was a good solution to rising sea levels. "The cost of not adapting to these flood risks is extraordinary," Verkooijen told the outlet. "We have a choice to make: we either delay and pay, or we plan and prosper. Floating offices and floating buildings are part of this planning against the climate of the future."

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Chandrababu Naidu announces Amaravati as sole capital city of Andhra Pradesh

PTI

Russia's former president threatened nuclear attacks on Western capital cities if NATO sends any troops to Ukraine

Matthew Loh

These workers in Switzerland commute to work by floating down a river

Hannah Towey

Equal-weight index: For diversified investments with low volatility

Chintan Haria

A floating city is being built in the Maldives. It comprises a web of residences, shops, and schools that will one day be home to 20,000 people.

Cheryl Teh

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