Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Mankind Pharma, Axis Bank and Fusion Microfinance saw large block deals where investors offloading stake.</li><li>PayTM, Zomato, PB Fintech and other new-age companies too saw PE/VC investor exits in August this year.</li><li>This block deal momentum is expected to continue as good valuations offer attractive exit options. <br /></li></ul> Indian stock market indices are scaling new highs every day with the Nifty having scaled Mt 21,000 and the Sensex at 70,000 mark. The bull market sentiment has given investors an opportunity to cash out of their stocks too. Topping the list is a mega block deal in the freshly listed Mankind Pharma wherein 8.7% of equity changed hands worth ₹6,395 crore. <br /><br />This was followed by smaller but sizable block deals worth ₹1,120 crore of Axis Bank, and a ₹572 crore deal at Fusion Microfinance. It’s also the second round of bulk and block deals executed by PE and VC investors of stocks. The first round happened in August index run-up, when multiple block deals were executed in new-age internet companies. <br /><br />PayTM saw four large block deals to the tune of ₹5,880 crore. Alibaba, Morgan Stanley Investment Management and Softbank were the top sellers. Zomato too saw its stock gain after it declared its maiden profits. It led to three large investors Softbank, Apoletto Asia and Tiger Global offloading stock to the tune of ₹2,460 crore.<br /><br />As per market watchers, the bull run will continue along with block deals. “Expected uptrend in market and positive sentiment in 2024 may act as a catalyst for strategic moves though block deals for institutions. Institutions keenly leverage these opportunities and use block deals as a vehicle for capitalizing on these favorable market conditions is only set to intensify,” <keyword id="19832203" type="General" weightage="80" keywordseo="sheersham-gupta" source="Orion">Sheersham Gupta</keyword>, director and senior technical analyst at Rupeezy told Business Insider India. <br /><br /><strong>Large blocks of 2023<br /></strong><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Company<br /><br /></strong></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Sellers<br /><br /></strong></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Value</strong><br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mankind Pharma <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chrys Capital, Capital Group and Everbridge Partners*<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,395 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PayTm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba, Morgan Stanley Investment Management and Softbank<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹5,880 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global, Apoletto Asia <br /><br />Softbank<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,460 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bain Capital &amp; more*<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,120 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhivery<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹590 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tencent<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹560 crore <br /><br /></td></tr></tbody></table><em>Source: Media reports, Kotak Institutional Investors</em><br /><em>*Possible sellers</em><br /><br /><strong>Public markets offer exit options too <br /></strong><br />Private equity and venture capital investors had also landed a large bounty by exiting via public markets in 2023. As per data available until the third week of November, investors sold off stock worth ₹10,007 crore across 17 initial public offers (IPOs), as per data by Primedatabase.<br /><br />The company which saw the chunkiest bulk deal, also saw the chunkiest IPO exit. Beige, Cairnhill CGPE, Cairnhill CIPEF and Link Investment TrustBeige sold stock to the tune of ₹3,244 crore as a part of the IPO. <br /><br />Few other large IPOs like Concord Biotech, R R Kabel and one of India’s most-awaited issues, Tata Technologies landed a large bounty for PE/VC players. A busy IPO season ahead is expected to give many exit options to investors. <br /><br />Stock markets will keep on making PE/VC investors richer in the coming year too both in primary and secondary markets. The promise of good valuations is expected to keep their exit options attractive. <br /><br />“Anticipating a bullish market trend in the upcoming year, fueled by promising GDP growth, easing inflation and a projected slowdown in developed economies, India is emerging as a prime investment destination. This not only attracts foreign investment but also increases potential block deals,” said Gupta.<br />

Block deal bonanza for investors as bull run continues

<ul><li>Private equity and venture capital firms exited 17 companies via IPOs in 2023, amounting to ₹10,007 crore.</li><li>PE/VCs sold stakes in <keyword id="11931339" type="General" weightage="80" keywordseo="delhivery" source="Orion">Delhivery</keyword>, Zomato and <keyword id="6357120" type="General" weightage="80" keywordseo="paytm" source="Orion">Paytm</keyword> PE/VCs this year via block deals.</li><li>Open market exits accounted for 57% of all exits by value in August, says a report by IVCA-E&amp;Y.</li><li>Experts say that more exits via open markets is a sign of maturity in the ecosystem. </li></ul>The great rush for initial public offerings (IPOs) has landed a bounty of massive proportions for entrepreneurs and investors alike. And a fourth of all the funds raised, and almost half of all the offer-for-sale capital landed in the coffers of private equity and venture capital firms. This is in addition to the large block deal action seen between August and September, especially in new-age companies. <br /><br />A total of ₹40,773 crore was raised by 46 mainboard public offers in 2023 up until the third week of November. Around half of it — ₹23,714 crore raised as offers-for-sale by promoters, existing investors and more. Of this, PE and VC players made as much as ₹10,007 crore across 17 IPOs via offers-for-sale, according to data by Primedatabase. <br /><br /><strong>Mainboard IPOs in 2023</strong><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total issue amount <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40,773 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offers for sale<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,714 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh Capital<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹17,059 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PE/VC exits <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹10,007 crore<br /><br /></td></tr></tbody><tbody></tbody></table><em>Source: Primedatabase</em><br /><br />This year’s largest IPO of Mankind Pharma saw the chunkiest of PE/VC exits amounting to ₹3,244 crore. A few large IPOs like Concord Biotech, R R Kabel and one of India’s most-awaited issues, Tata Technologies saw large PE/VC sell-offs. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Company<br /><br /></strong></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>PE/VCs exited <br /><br /></strong></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Amount</strong><br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mankind Pharma<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Beige, Cairnhill CGPE, Cairnhill CIPEF and Link Investment Trust <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,244 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Helix Investment Holdings<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,550 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">R R Kabel<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TPG Asia VII SF<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,334 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honasa Consumer<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fireside Ventures Fund <br /><br />Sofina Ventures S.A.<br /><br />Stellaris Venture Partners India I<br /><br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹922 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alpha TC Holdings Pte. Ltd <br /><br />Tata Capital Growth Fund I<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹692 crore <br /><br /></td></tr></tbody><tbody></tbody></table><em>Source: Primedatabase</em><br /><br /><strong>Open Sesame with IPO markets</strong> <br /><br />The opening up of the IPO market as an exit route is good news for PE and VC investors. Even if they’re not a part of the offer-for-sale in an issue, being part of a public listed company frees-up their shares for block deals. <br /><br />“IPOs are a credible exit channel for VC/PE funds. Revival of the IPO market is certainly good news for the investors. Equally good news is the performance of some of the marquee tech stocks that have been listed on the stock market in the last few years,” Fazal Ahad, managing director at Merisis Advisors told Business Insider India. <br /><br />Thanks to the bull run of stock markets seen since August, there have been a lot of block deals by large PE/VC investors. In as many as 29 large block deals since September, Softbank, <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Bain and TPG sold stakes in new-age internet companies like PB Fintech, Delhivery, Zomato and Paytm, as per data by Kotak Institutional Equities.<br /><br />According to IVCA-EY monthly PE/VC roundup, August 2023 saw exits to the tune of $4.3 billion across 37 deals in August 2023. And, open market exits accounting for 57% of all exits by value.<br /><br /><strong>The best is yet to come <br /></strong><br />The buzz in the primary and secondary markets coupled with the exits they provide is a sign of maturity in the VC ecosystem, say experts. And there are more to come, as per Redseer. As many as 30 unicorns that are valued over $1 billion will become IPO-ready next year. <br /><br />For the smaller startups, there is the SME listing route who want to hit the markets at an earlier stage of their growth. “IPOs need to be valued right as public markets still look for profitable ventures, early profitability will enable startups to get exit through SME listings which has scaled up substantially in the last two years. This will take some time to evolve for startups,” said Manoj Agarwal, co-founder &amp; managing partner, SeaFund. <br /><br />The discipline of being a part of the listed universe also helps companies shrug off cash burn and move towards profitability. “Listed space gives rigour especially financial rigour to companies. This is something which the VCs like and now slowly but surely, there is acceptance in the IPO story of the startups,” says Bhaskar Majumdar, Managing Partner, Unicorn India Ventures. <br /><br />As more and more such companies are entering a state of maturity, FY25 will be a better year for serious large-scale exit gains, opines Agarwal. In the meanwhile, it’s open season for PE/VC investors who are looking to chart their exit strategy. <br /><br /><strong>SEE ALSO <br /><br /><a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a><br /><br /></strong><a href="https://www.businessinsider.in/business/corporates/news/minority-shareholders-must-grin-and-bear-it-when-promoters-wash-dirty-laundry-in-public/articleshow/105589325.cms"><strong>Minority shareholders must grin and bear it when promoters wash dirty laundry in public</strong></a><br />

Private equity and VC players make a killing as IPO rush yields them ₹10,000 crore

Ariana Grande's 'Thank U, Next' is full of revealing lyrics, samples, and apparent Pete Davidson references &mdash; here's every detail you may have missed

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>The first telescope to photograph a "<a href="http://www.businessinsider.com/carl-sagan-pale-blue-dot-earth-photos-2016-11">pale blue dot</a>" of another Earth in a distant solar system may not be funded by NASA, the European Space Agency, or some other government agency.</p><p>It might come <a href="https://www.kickstarter.com/projects/793160377/1581166215?token=359cb0d7" target="_blank">from Kickstarter</a>.</p><p>Dubbed <a href="http://www.projectblue.org/">Project Blue</a>, the effort isn't run by hucksters out to peddle <a href="http://www.businessinsider.com/can-triton-device-indiegogo-pull-oxygen-water-2016-3">unrealistic technologies</a>. A consortium of professional scientists and engineers, some of whom work at NASA, is running the show as a nonprofit called <a href="http://www.missioncentaur.org/">Mission Centaur</a>.</p><p>"We're looking for a place that could support life," <a href="https://www.uml.edu/Sciences/physics/faculty/Chakrabarti-Supriya.aspx">Supriya Chakrabart</a>, an optical and space scientist at University of Massachusetts Lowell who's part of Project Blue, told Business Insider.</p><p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>They hope their <a href="https://www.kickstarter.com/projects/793160377/1581166215?token=359cb0d7" target="_blank">6-week-long panhandle on Kickstarter</a>, which starts November 15, nets them at least $1 million - enough cash to pick up the work a group of the researchers started at NASA but couldn't get more funding to support.<p>They say the money will go toward further design and research of the project.</p><p>The group ultimately expects the mission to cost between $25 and $50 million to get into orbit around Earth within the next 4 to 6 years. That pricetag includes sharing a ride on a rocket like SpaceX's Falcon 9, and it's nothing compared to the billions NASA has spent on space observatories.</p><p>Once in orbit, an epic 2-year stare-down would begin.</p><p>Chakrabart said he's confident that crowdfunding the first stage of Project Blue will work out, buying time to attract a big following - and bigger funders later on.</p><p>"After ghosts and dinosaurs, space comes a close third, in terms of people's interest," he said.</p><h2>Shooting in the dark</h2><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>Project Blue's target is Alpha Centauri, a system that contains two of the closest stars to our own solar system at just 4.4 light-years away.</p><p>One of the stars, called Alpha Centauri A, is even sun-like.</p><p>However, nobody actually knows if a blue marble like Earth - a world with liquid-water oceans, a cozy atmosphere, and other conditions necessary for life - might lurk in the double-star system. Not even Hubble, the planet-hunting Kepler space telescope, or other advanced observatories could tell an astronomer.</p><p>So it's a bit of a gamble to make even a small telescope that's purpose-built to stare down one star system.</p><p>But Chakrabart and the other Mission Centaur scientists think it's a good bet. They cite the <a href="http://www.businessinsider.com/nasa-kepler-announcement-2016-5">most recent planet-hunting data</a> from Kepler, which pegs the odds of a rocky planet orbiting a star's "habitable zone," or close enough to create liquid water, near 85%.</p><p>"Roughly one out of every two stars has a potentially habitable planet," said Ruslan Belikov, an astrophysicist at NASA Ames Research Center, in "<a href="https://vimeo.com/174313049">The Search for Earth Proxima</a>" - a short documentary about the project. "The number of potentially habitable planets in our galaxy alone is greater than the number of people alive on Earth."</p><p>According to <a href="https://www.scientificamerican.com/article/miniature-space-telescope-could-boost-the-hunt-for-earth-proxima-video/">Lee Billings at Scientific American</a>, Belikov and another scientist in 2014 pitched NASA a telescope similar to Project Blue, "but the agency passed over the speculative, narrowly focused project."</p><p>That's not too much of a surprise, since NASA likes its space telescopes more like Swiss Army knives and able to view multiple targets with ease. The equipment and techniques also weren't quite there at the time - hurdles that Mission Centaur no longer foresees.</p><p>"The technology required to do this is only very recent. It hasn't been ready until now," Brett Marty, the filmmaker behind the aforementioned documentary and the executive director of Mission Centaur.</p><h2>How to photograph an 'Earth Proxima'</h2><p><div><div style="position:relative;padding-bottom:61%"></div></div></p><p>At roughly the size of a modest washing machine, Project Blue would be pretty dinky space telescope if built - certainly compared to the school bus-size Hubble space telescope.</p><p>But it doesn't need to be large. It's only focused on one part of the sky and needs minimal electronics (whereas Hubble needs large gyroscopes and multiple cameras to move and take aim at different objects in space).</p><p>Project Blue's ultimate task is resolving any very dim objects next to ones 1 billion to 10 billion times brighter.</p><p>"Imagine there's a marble next to a lighthouse in Cape Cod," Chakrabart said. "Ok, now try to image that marble from San Francisco. That is what we're dealing with."</p><p>He said that "three key technologies matured enough that we can tell people with a straight face that we're now actually ready to go and do this thing."</p><p>One is a miniaturized version of a coronagraph, a complex instrument that can blocks each star's blinding light and can reveal planets hiding in the glare.</p><p>"It's kind of like playing tennis and the sun is in your eyes," Marty said. "When you put your hand up to block it, you can see the ball coming. Here we're suppressing both stars at once" and catching the balls. Keeping the precision while shrinking what's normally a very large instrument wasn't easy, they said.</p><p>The next challenge was that "it's near impossible to make a perfect mirror," or at least a large one, Chakrabart said.</p><p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div><p>The solution? A "deformable" mirror, which is a computer chip-like array of about 1,000 ultra-tiny (and very perfect) mirrors that can be programmed to move with microscopic precision thousands of times a second, helping cancel out any optical imperfections in the telescope.</p><p>The third and final technical hurdle to making Project Blue possible was image stabilization.</p><p>"A crisp image is what is needed because the planet would be so close to the star," Chakrabart said. "We have built such a system and proven it works to the level Hubble can point."</p><p>Marty said it's similar to the gyros in consumer cameras that stabilize an image - though far more exacting. "This is really the reason we're able to do this mission at such a low cost," he said.</p><p>To prove the stabilizers worked well enough to keep Project Blue gazing endlessly at Alpha Centauri, Chakrabart's team launched experimental prototypes toward the edge of space, some 60 miles up. For the few minutes they floated in the thin air before falling back to Earth, they perfectly stabilized the experimental rig.</p><p>If all goes according to plan, Project Blue will take hundreds or even thousands of pictures of the star system in three colors (including blue), merge the giant pile of images, and lift out a pale blue dot out from the noise of pixels.</p><p>"We have to take care of every single possible event that could contribute to this noise," Chakrabart said. "This is why we've decided we need at least 2 years of measurement to convince ourselves we're seeing a true, Earth-like planet."</p><h2>What if it works?</h2><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>It's important to note this isn't the closest star system we heard a lot about earlier this year, <a href="http://www.businessinsider.com/red-dwarf-planets-proxima-b-aliens-2016-8">a red dwarf star</a> called Proxima Centauri.</p><p>Although a dogged team of astronomers strongly believe there's a rocky, <a href="http://www.businessinsider.com/proxima-b-potentially-earth-like-planet-around-closest-star-2016-8">Earth-size planet called Proxima b</a> circling that star in its habitable zone, Chakrabart and Marty said it's not a great target for their ragtag operation.</p><p>At about 4 million miles away from its star, Marty said, "there's a lot of radiation. It's also a tricky target and hard to resolve, and it might not be anything like our planet."</p><p>An observatory like the behemoth <a href="http://www.businessinsider.com/nasa-new-space-telescope-built-2016-11">James Webb Space Telescope</a> might be the first to study that world, though it wouldn't be a "pale blue dot" photo - more like <a href="http://www.businessinsider.com/proxima-b-habitable-atmosphere-jwst-2016-9">a fuzzy heat signature</a> that could indicate "this is an incinerated hell hole" or "a useful atmosphere and potentially water lurk here."</p><p>Project Blue, of course, actually intends to return images of a habitable planets, like this:</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>If it works, Russian billionaire Yuri Milner and his Breakthrough Starshot project - <a href="http://www.businessinsider.com/starshot-proxima-centauri-habitable-planet-2016-8">an effort to laser-propel tiny spacecraft</a> to the Alpha Centauri or Proxima Centauri systems - will have an intriguing new target.</p><p>But even if that pie-in-the-sky idea falls down and all we're left with is an image of a pale blue dot, it would be Earth-shattering.</p><p>"Finding an Earth Proxima would be a transformative event in the history of mankind," said Bill Diamond, president and CEO of th SETI Institute, in Marty's documentary. "I would love to think that is something that helps bring us together. It's a very unifying thing."</p><p>And in divisive times like these, unity is something the human race could <a href="http://www.businessinsider.com/carl-sagan-pale-blue-dot-earth-photos-2016-11">use a lot more of</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/starshot-launching-tiny-robots-nearest-star-alpha-centauri-2016-4">How these laser-propelled robots could bring us to a star 25 trillion miles away</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JwcmtzMjE62UOoiv4Vw4S-kom9OujD1H" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Another Earth might exist right next door - and this dinky DIY telescope may be the first to see it

<ul><li>According to WHO, over six million people lose their lives each year due to tobacco-related ailments and the figure is said to rise to more than eight million per year by the year 2030.</li><li>This year on <keyword id="6569966" type="UNKNOWN" weightage="20" keywordseo="World-No-Tobacco-Day">World No Tobacco Day</keyword>, brands are raising awareness about the many harmful effects of tobacco use and urging the audience to live a healthier lifestyle.</li></ul>May 31st is observed as World No Tobacco Day (WNTD) every year, which is a commemoration of an official public health campaign by the <keyword id="43588" type="COMPANY" weightage="20" keywordseo="World-Health-Organization">World Health Organization</keyword>. Brands across the world unite today to nudge <keyword id="6575406" type="UNKNOWN" weightage="20" keywordseo="smokers">smokers</keyword> to quit by focusing on the long-term health benefits. <br /><br />According to WHO, this yearly celebration informs the public on the dangers of using tobacco, the business practices of tobacco companies, and what people around the world can do to claim their right to health and healthy living and to protect future generations. Every year World No Tobacco is observed with a different theme; this year, the theme of World no Tobacco Day is “Commit to quit.”<br /><br />      <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div><br />This year, as we deal with a global pandemic, it is even more crucial to remind our loved ones who are addicted to smoking to adopt a healthier lifestyle and help them take charge of their own life. Smokers have up to a 50% higher risk of developing severe disease and death from COVID-19. It is not only harmful to those who consume it directly but those who live with people who smoke are also at risk of developing pathologies related to cigarettes!<br /><br />So to help out those struggling with tobacco addiction, from showing graphic images of the damage caused by smoking to suggesting replacement techniques - Indian brands have done it all this year. <br /><br />Here are a few that we came across: <br /><br /><strong>SBI General</strong><br />      <div type="Youtube" id="wfRpIZtTsEY" title="SBI General presents #QuitterBanaWinner | World No Tobacco Day #CommitToQuit" thumbUrl="https://i.ytimg.com/vi/wfRpIZtTsEY/mqdefault.jpg"></div><br /><strong>Dunzo</strong><br /><div type="twitter" handle="DunzoIt" handlename="Dunzo" image="http://pbs.twimg.com/profile_images/1345986523636793344/qKdY222k_normal.jpg" favoritecount="0" retweetcount="0" status="WARNING : Stepping out for groceries may be injurious to health. Take it light. Just Dunzo it.#WorldNoTobaccoDay… https://t.co/ASfc6XUCL1" createdat="1622457916000" id="1399316039557541889"></div><br /><b>Tata Motors <br /></b><div type="twitter" handle="TataMotors" handlename="Tata Motors" image="http://pbs.twimg.com/profile_images/899609798299205633/DZLt0_e2_normal.jpg" favoritecount="36" retweetcount="4" status="When you choose not to consume tobacco, you choose a brighter future. Let's set our focus on a healthy lifestyle.… https://t.co/XgOk8Yaafu" createdat="1622451822000" id="1399290478244237313"></div><br /><strong>Policy Bazaar</strong><br /><div type="twitter" handle="policybazaar" handlename="Policybazaar" image="http://pbs.twimg.com/profile_images/1210099833643495424/0wRGNdpE_normal.jpg" favoritecount="3" retweetcount="1" status="Smokers are liable to pay steeper premiums for term insurances. Choose life. Quit smoking today.#WorldNoTobaccoDay… https://t.co/Ino5YSODLy" createdat="1622454143000" id="1399300215320940544"></div><br /><strong>FabHotels</strong><br /><div type="twitter" handle="FabHotels" handlename="FabHotels" image="http://pbs.twimg.com/profile_images/998807533899808768/SBSaSnQi_normal.jpg" favoritecount="1" retweetcount="0" status="Let life win! ☑️#WorldNoTobaccoDay #WorldNoTobaccoDay2021 #quitsmoking https://t.co/2dU2A1aGRV" createdat="1622453815000" id="1399298840067403778"></div><br /><strong>ICICI Prudential Mutual Fund</strong><br /><div type="twitter" handle="ICICIPruMF" handlename="ICICIPruMF" image="http://pbs.twimg.com/profile_images/1299283850095333377/KdY6HIGg_normal.jpg" favoritecount="5" retweetcount="1" status="This #WorldNoTobaccoDay, #CommitToQuit and invest in a healthier lifestyle, a healthier tomorrow. https://t.co/KZNsB3vfSH" createdat="1622454046000" id="1399299805482913798"></div><br /><strong>Paytm</strong><strong><br /><div type="twitter" handle="Paytm" handlename="Paytm 😷 💉" image="http://pbs.twimg.com/profile_images/1361554000550584320/DEowbIr8_normal.jpg" favoritecount="718" retweetcount="43" status="Sometimes, quitters are winners.#WorldNoTobaccoDay https://t.co/E5dUgF3GLm" createdat="1622451419000" id="1399288787868413953"></div><br />Delhi Airport<br /><div type="twitter" handle="DelhiAirport" handlename="Delhi Airport" image="http://pbs.twimg.com/profile_images/1189896094890766336/Wq39m8Md_normal.jpg" favoritecount="15" retweetcount="3" status="Say no to tobacco and yes to life. #WorldNoTobaccoDay #DelhiAirport https://t.co/wlofPoCNvc" createdat="1622448684000" id="1399277316577140737"></div><br />Acer<br /><div type="twitter" handle="Acer_India" handlename="Acer India" image="http://pbs.twimg.com/profile_images/914708513737252864/BLaaw5eL_normal.jpg" favoritecount="7" retweetcount="0" status="According to World Health Organization, Tobacco kills nearly 8 million people a year. On this #WorldNoTobaccoDay ta… https://t.co/UyT9MXOtYP" createdat="1622452382000" id="1399292827096522755"></div></strong><br /><strong>Upstox</strong><br />      <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div><br /><strong>Tata Trusts</strong><br /><div type="twitter" handle="tatatrusts" handlename="Tata Trusts" image="http://pbs.twimg.com/profile_images/933955762644164608/-599H6Y3_normal.jpg" favoritecount="15" retweetcount="5" status="India is the second-largest consumer of tobacco, with nearly 267 million adults (15 and above) consuming products l… https://t.co/6aJWd1e0pB" createdat="1622446452000" id="1399267958036189189"></div><br /><strong>Mankind Pharma</strong><br /><div type="twitter" handle="Pharma_Mankind" handlename="Mankind Pharma" image="http://pbs.twimg.com/profile_images/922748683996688389/Ttocwphx_normal.jpg" favoritecount="17" retweetcount="3" status="Jan hit mein jaari - Given the circumstances, lung health is even more important now. Quit tobacco, save your life.… https://t.co/w2Oy0B7ntW" createdat="1622275248000" id="1398549875944431616"></div><br /><div type="twitter" handle="Pharma_Mankind" handlename="Mankind Pharma" image="http://pbs.twimg.com/profile_images/922748683996688389/Ttocwphx_normal.jpg" favoritecount="362" retweetcount="27" status="Yahi Umar hai karle Lungs ko protect, taki aap ko baad me pachtana na pade...🎵🎶#UngliChipkaoKhudkoBachao… https://t.co/tMwbiJa3u2" createdat="1622357793000" id="1398896092394098690"></div><br /><strong>MTV India</strong><br /><div type="twitter" handle="MTVIndia" handlename="MTV India" image="http://pbs.twimg.com/profile_images/1115500483961950208/q3Wlk_Pt_normal.png" favoritecount="10" retweetcount="0" status="Jalana hi hai toh logo ke dil jalao, apne lungs nahi!#WorldNoTobaccoDay #WorldNoTobaccoDay2021 #tobaccofree… https://t.co/XYlhXYuvnK" createdat="1622439181000" id="1399237457791488000"></div><br /><strong>Croma Retail<br />    <div type="javascript" title="Facebook" contenttype="Image"><cdata><![CDATA[]]></cdata></div><br />Bajaj Allianz General <br /><div type="twitter" handle="BajajAllianz" handlename="Bajaj Allianz GIC" image="http://pbs.twimg.com/profile_images/1354782205487194118/NsG5TAbp_normal.jpg" favoritecount="6" retweetcount="1" status="The kick is temporary, but the damage is permanent. Excessive smoking is not just injurious to your taste buds, but… https://t.co/tbl86irpwt" createdat="1622443850000" id="1399257043794468870"></div></strong>

World No Tobacco Day: How brands are motivating smokers to quit

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Mark Schiefelbein</span></p><p class="caption">Security officials stand outside a perimeter fence for a secured area ahead of the APEC Economic Leaders' Week Summit in Port Moresby, Papua New Guinea, Wednesday, Nov. 14, 2018.</p></div><p></p></div></div></p><ul class="summary-list"><li>This weekend, 21 world leaders will make their way to Papua New Guinea for the Asia Pacific Economic Cooperation (APEC) summit, an event marked by controversy and questionable fashion photo ops.</li><li>The Pacific region is quickly turning into a contest for influence aligning China against everyone else.</li><li>China is winning for now, but impoverished nation's like Papua New Guinea often come out the loser.</li></ul><p>The Asia Pacific Economic Cooperation Leaders' Summit or APEC, if you're feeling a little lost amid the proliferation of global get-togethers is the one where all the leaders line up afterward in colorful shirts, looking - as some commentators have quipped - out of place.</p><p>Usually that's APEC's key takeaway - how out of place everyone is in the Pacific.</p><p>This weekend, 21 world leaders will make their way to the faraway host of the annual APEC summit, an event often mired in controversy.</p><p>This year, that diplomatic jostle will take place in Port Moresby, the dilapidated capital of perhaps the regions most resource-rich, yet poverty stricken state, Papua New Guinea (PNG).</p><p><span>PNG is the poorest nation of the entire 21-country APEC bloc and its crime-</span>riddled capital, beset by health challenges and institutional corruption, is the fifth least-livable city in the entire world.</p><p>The summit's timing could certainly not be more interesting for struggling APEC nations keen to make the most out of the emergence of a sudden race for influence.</p><p>In just the last week, the Pacific's simmering struggle for aid, loans and what is being termed "debt diplomacy" has suddenly gone on the boil.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Carl Court/Getty Images</span></p><p class="caption">Japanese Prime Minister Shinzo Abe (left) and US Vice President Mike Pence (right).</p></div><p></p></div></div></p><h2>Superpowers jostling for position</h2><p>China, Australia, Japan and the US have all thrown down the gauntlet in the stampede to embed themselves in regional infrastructure projects and aid funding.</p><p>On Thursday, Australia pledged $3 billion in what has been called Prime Minister Scott Morrison's "Pacific Pivot."</p><p>On Friday, that pivot segued into a trilateral project as China pushed for cooperation and not competition in the Pacific.</p><p>Over the weekend, as Vice President Mike Pence makes his circuitous way to Moresby (via Cairns) he is reported to be carrying the prototype of America's Indo-Pacific strategy, rumored to be based on $60 billion in regional assistance.</p><p><a href="https://english.kyodonews.net/">Kyodo News of Japan</a> reports the $60 billion announcement is a bid to diminish China's rising influence  through the extension of its One Belt One Road development strategy.</p><p>The final piece of the Pacific puzzle, Japanese Prime Minister Shinzo Abe will this<span> Saturday, fly into Port Moresby's Chinese-built Jackson airport to share his two yen at the APEC summit.</span></p><p><span>Likewise, Abe will be visiting friends and striving to bind new allegiances to counter China's successes in the Pacific, from the South China Seas to Fiji.</span></p><p>So, with new acquaintances to make and money for sale, Port Moresby's flourishing corruption and eye level impoverishment will be the more than appropriate backdrop for the 21 world leaders' awkwardly iconic fashion shoots that traditionally close out the summit.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/south-china-sea-energy-reserves-china-wants-to-block-outsiders-2018-11">The South China Sea is fabled for its hidden energy reserves and China wants to block outsiders like the US from finding them</a></em></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.reutersconnect.com/all?id=tag%3Areuters.com%2C2018%3Anewsml_RC1D979ABC60%3A172824989&amp;search=all%3Axi%20jinping">Damir Sagolj/Reuters</a></span></p><p class="caption">Chinese President Xi Jinping inspects troops at the People's Liberation Army (PLA) Hong Kong Garrison in one of events marking the 20th anniversary of the city's handover from British to Chinese rule, in Hong Kong</p></div><p></p></div></div></p><h2>Chinese President Xi Jinping has a head start</h2><p>In fairly contrasting optics, Xi will arrive and stay in Moresby for a full state visit, the first by any Chinese president.</p><p>The US President Donald Trump isn't attending at all.</p><p>But Pence has decided that rather than stay in Port Moresby at all, he will fly in and out of Cairns in Northern Australia, a 180-minute commute.</p><p>During his historic stay, Xi will attend the APEC Economic Leaders' Meeting from November 17 to 18 and he will also meet the eight leaders of the Pacific Island countries that have diplomatic ties with China.</p><p>Xi will then continue on to Brunei and the Philippines shoring up relations there, according to Chinese Foreign Ministry spokesman Lu Kang.</p><p>China has also responded to concerns of its growing debt diplomacy in the region.</p><p>"China has no intention to touch the cheese of any country, instead China is committed to make the pie of cooperation larger," Chinese vice minister of foreign affairs Zheng Zeguang said on Tuesday.</p><p>"No country should try to obstruct the friendship and cooperation," Zheng said when asked about the expansion of Australian aid in the Pacific.</p><p>Then in a fairly extraordinary opinion piece published on Wednesday in the <a href="https://postcourier.com.pg/set-sail-new-voyage-relations-china-pacific-island-countries/">Papua New Guinea Post-Courier</a>, and addressed to the people of PNG, Xi Jinping spoke of t<span>he "rapid growth of China-Papua New Guinea relations is an epitome of China's overall relations with Pacific island countries."</span></p><p>The president said that first off China and the islands "need to bring our strategic trust to a higher level." </p><p><span>"China will stand firm with Pacific island countries and all other developing countries. Following a policy of pursuing the greater good and shared interests under the principles of sincerity, real results, amity and good faith, China will enhance solidarity and cooperation with Pacific island countries, support their development, and help narrow down the development gap between the North and the South."</span></p><p><span>"China will work with Pacific island countries to build a new type of international relations and a community with a shared future for mankind."</span></p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/australia-wants-to-challenge-chinese-influence-in-south-pacific-2018-11">Australia's new prime minister sounds like he wants to take on China's growing influence in the South Pacific</a></em></p><p>However welcome the intent, the goals are not so easy to kick in a region beset by inequality, poverty and corruption.</p><p>To the chagrin of most observers and a small contingent of striking workers, PNG Prime Minister Peter O'Neill has gone on a bit of a wild spending spree ahead of the summit.</p><p>With a tight budget, some workers downed tools when Maseratis began arriving in numbers at Jackson International airport, brought in for the leaders.</p><p>Despite more than one-third (37%) of his country according to the UN Development Program living way down below the poverty line, O'Neill decided to welcome leaders with several Bentleys and the extra 40 luxury Maseratis specifically flown in for the meetings.</p><p>PNG, which is the one nation (aside from the wayward Australian state of Victoria) signed up to China's One Belt One Road initiative, has been a key beneficiary of Chinese investment and many of it's infrastructure projects will be in display in Port Moresby.</p><p>Beijing has fixed bits of the airport, had a crack at some transport infrastructure without enormous progress, donated a squad of fire trucks, somewhere near 50 coaches and 35 mini-buses to shuttle officials to and from the a $35 million convention center built with Chinese money by Chinese companies and workers.</p><p><span>Dr. Graeme Smith, a research fellow at the Australian National University's Coral Bell School of Asia Pacific Affairs told Business Insider that it is likely China has invested somewhere around double the $3 billion it is rumored to have staked in PNG.</span></p><p>To keep its hands clean in a time of added scrutiny, neighboring Australia, PNG's biggest aid-donor and former colonial power broker, is not providing any direct financial assistance for the APEC summit, but is flexing its security muscle and military ties, providing assistance to the tune of $130 million of APEC's total costs.</p><p>Some 4,000 members of the PNG disciplinary forces and their international counterparts will be patrolling the city for the summit, including 1,500 Australian Defence Force (ADF) personnel supporting PNG's Joint Security Task Force, with just under 500 of those on the ground in Port Moresby.</p><p>For back up, Australia has mobilized up to 16 Super Hornet aircraft to be based near Cairns and three Royal Navy ships are stationed off Port Moresby, accompanied by one helicopter landing dock and several patrol boats.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Mark Schiefelbein</span></p><p class="caption">A worker adjusts a rope line outside of APEC Haus, the main venue of the APEC Economic Leaders' Week Summit as a military ship is anchored just offshore in Port Moresby, Papua New Guinea, Wednesday, Nov. 14, 2018.</p></div><p></p></div></div></p><h2>So who is coming this year?</h2><p>Almost 30 years old, APEC began in 1989, to encourage tighter regional economic integration for the Pacific Rim.</p><p>Most of the 21 APEC members are from this pacific region with the addition of Russia, United States, Canada, Mexico, Chile and Peru, together accounting for 2.7 billion people - more than a third of the world's population.</p><p>Headlining in 2018 is undoubtedly China's Xi Jinping.</p><p>Japan's Abe, Canada's Justin Trudeau, South Korea's Moon Jae-in and New Zealand's Jacinda Ardern will also be there alongside the new Australian leader Scott Morrison.</p><p>While Pence is standing-in for Trump, so too will Vladimir Putin's proxy, Prime Minister Dmitry Medvedev, fly the Russian flag.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Mark Schiefelbein</span></p><p class="caption">Workers put up a billboard reading "The world is watching, keep our city clean an safe" on a wall along a street ahead of the APEC Economic Leaders' Week Summit in Port Moresby, Papua New Guinea, Wednesday, Nov. 14, 2018.</p></div><p></p></div></div></p><h2>Putting Papua New Guinea on the map</h2><p>PNG's Prime Minister Peter O'Neill says he expects $85 million will be spent by leaders during the time of APEC alone and that playing host will put PNG on the map.</p><p>O'Neill, whose first move as prime minister was to scrap the anti-corruption body <a href="http://www.devpolicy.org/drowning-not-waving-an-update-from-pngs-taskforce-sweep-20151113/">Taskforce Sweep</a> that ushered him into power and then began looking into his own affairs, has allocated around $350 million for the event.</p><p align="JUSTIFY">Responding to some of the considerable flak that has come his way, O'Neill says PNG is in fact hosting the cheapest APEC meeting compared to other countries.</p><p align="JUSTIFY"> O'Neill said PNG is on the cusp of hosting one of the cheapest APEC Leaders meetings in history.</p><p align="JUSTIFY">"We were given the green light to host APEC in October 2016 and in the same year, we budgeted ($US7.5 million) K25 million towards APEC."</p><p align="JUSTIFY">That seems unlikely considering the summit's APEC house centerpiece is thought to have cost $75 million alone.</p><p>Stephen Howes, the Director of the Development Policy Centre and Professor of Economics in the Crawford School of Public Policy, ANU says the timing is not so great for a PNG facing mounting debts and rising corruption. </p><p>"Excessive borrowing in the boom years has now come back to haunt the government following a collapse in revenue," wrote in the ANU's <a href="http://www.eastasiaforum.org/">East Asia Forum</a>.  </p><p>But in the second most rural country worldwide, Howes added that there is a stronger, more damning indicator for how things are faring in PNG.</p><p>What has really caught the public's attention is the <a href="https://www.abc.net.au/news/2018-06-27/polio-outbreak-declared-in-png-18-years-after-polio-free-status/9913684">return of polio</a>, previously eliminated from PNG about 20 years ago.</p><p>"PNG is one of only <a href="http://polioeradication.org/polio-today/polio-now/">five countries in the world</a> experiencing a polio comeback."</p><p>"That the other members of this club are the Democratic Republic of Congo, Niger, Nigeria and Somalia - all four wrought by violence - shows the extent of the health crisis that PNG is facing," Howes said.</p><p>"The most recent symptoms of this crisis include the resurgence of  malaria and leprosy, and reports of <a href="http://www.devpolicy.org/severe-drug-and-equipment-shortages-port-moresby-general-hospital-20180523">worsening drug shortages</a>."</p><p>Australian freelance journalist Jo Chandler herself contracted drug-resistant tuberculosis while investigating the growing crisis.</p><p>So what does Howes expect will come of PNG's APEC?</p><p>APEC he says will deliver a mild economic stimulus, and is expected to be accompanied by a round of "announceables."</p><p>This is perhaps more likely than ever as the four regional pacific powers make their various bids for lasting influence.</p><p>"These may come from China or resource projects. Perhaps PNG will get more aid, but any <a href="https://www.businessadvantagepng.com/oneill-to-announce-preliminary-agreements-for-papua-lng-and-wafi-golpu-to-coincide-with-apec-leaders-meeting/?utm_source=Business+Advantage+PNG+weekly+update&amp;utm_campaign=0341d77c97-EMAIL_CAMPAIGN_2018_10_23_02_52&amp;utm_medium=email&amp;utm_term=0_02084d248f-0341d77c97-412884301">resource project agreements</a> will be ones that were already in the pipeline.</p><p>Howes says that it is widely accepted (including by the government) that PNG needs to get a better deal from its resource projects. Rushing agreements so that they can be announced at APEC only weakens PNG's negotiating hand.</p><p>"By the same token though, APEC is meant to be about reform and development. PNG could have used its hosting of APEC to push through important change in a range of critical policy areas. It hasn't."</p><p>"Whatever happens at the leaders' meeting this year, in this fundamental sense APEC 2018 is a lost opportunity for its host."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/deadly-life-boston-gangster-whitey-bulger-2015-9">The true story behind Boston gangster Whitey Bulger</a></h3>        <div>                    </div>    </div>

You Searched For "mankind block deal" and got 7 results

Block deal bonanza for investors as bull run continues

Katya Naidu

Private equity and VC players make a killing as IPO rush yields them ₹10,000 crore

Katya Naidu

Ariana Grande's 'Thank U, Next' is full of revealing lyrics, samples, and apparent Pete Davidson references here's every detail you may have missed

Callie Ahlgrim

Another Earth might exist right next door - and this dinky DIY telescope may be the first to see it

Dave Mosher

World No Tobacco Day: How brands are motivating smokers to quit

BI India Partner

The poorest nation in the Pacific will host its richest economic get-together, and it could descend into a dash for cash

Christian Edwards,Christian E…

GOOGLE'S $500 MILLION MAN: Meet The 'Weird' Guy Trying To Invent A New Computing Platform

JILLIAN D'ONFRO

Popular Keywords

Buying Guides