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The <keyword id="6367820" type="General" weightage="100" keywordseo="adani-group" source="Orion">Adani Group</keyword> will become the first Indian port operator in <keyword id="6355572" type="General" weightage="80" keywordseo="sri-lanka" source="Orion">Sri Lanka</keyword> as construction of the Colombo Port's Western Container Terminal (<keyword id="352560" type="General" weightage="80" keywordseo="wct" source="Orion">WCT</keyword>) is set to start on Wednesday. The group will have the majority stake in the West Container International Terminal Joint Venture (JV) which is valued at $700 million. The build-operate-transfer (BOT) agreement which is to remain valid for 35 years, is said to be the "largest" foreign investment ever in Sri Lanka's port history. The state-run Sri Lanka Ports Authority will own 15 per cent, while local company <keyword id="217438" type="General" weightage="80" keywordseo="john-keells" source="Orion">John Keells</keyword> will own 34 per cent interests in the joint project. A memorandum of understanding signed with <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> and Japan on the development of the Eastern Container Terminal (ECT) in 2019, was withdrawn following the protest by Sri Lankan trade unions and some political parties. However in March 2021, the Sri Lankan Cabinet granted approval for the development of the WCT through a public-private partnership (PPP) in collaboration with the SLPA and investors nominated by the Indian and Japanese governments. According to reports, following the commencement of operations, the terminal is expected to increase the Colombo Port's capacity to three million TEU a year. The reports further said that nearly 45 per cent of Colombo's trans-shipment volumes start from or are destined to an Adani Ports and Special Economic Zone (APSEZ) terminal in India. Completion of construction of the WCT is scheduled by 2024. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/democratising-commerce-ondc-could-be-the-upi-moment-for-small-retailers-msmes/articleshow/95393032.cms">Democratising commerce: ONDC could be the UPI moment for small retailers, MSMEs</a> <a href="https://www.businessinsider.in/business/corporates/news/zoho-becomes-a-1-billion-company-in-revenues/articleshow/95382381.cms">Zoho to double down R&amp;D but keep tech hiring ‘slow’</a> <a href="https://www.businessinsider.in/careers/news/india-saw-6-decline-in-hiring-in-october-amid-funding-winter-monster-report/articleshow/95376179.cms">India saw 6% decline in hiring in October amid funding winter: Monster report</a>

Adani Group to become the first Indian port operator in Sri Lanka

Ahmedabad, <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword> subsidiary Adani Ports and Special Economic Zones Ltd (<keyword id="841459" type="COMPANY" weightage="20" keywordseo="APSEZ">APSEZ</keyword>) has bagged the contract to develop and operate West the Container Terminal (<keyword id="352560" type="COMPANY" weightage="20" keywordseo="WCT">WCT</keyword>) in <keyword id="6364814" type="COMPANY" weightage="20" keywordseo="colombo">Colombo</keyword>, making it the first Indian port operator in Sri Lanka. The company has received a <keyword id="6465470" type="COMPANY" weightage="20" keywordseo="letter-of-intent">Letter of Intent</keyword> from Sri Lanka's Ministry of Ports and Shipping and the Sri Lanka Ports Authority (SLPA) for setting up the container terminal on a Build, Operate and Transfer basis for a period of 35 years on a public-private partnership basis. APSEZ will partner with John Keells Holdings PLC, Sri Lanka's largest diversified conglomerate, and with the SLPA, as a part of the consortium awarded this mandate. WCT will have a quay length of 1,400 metres and alongside depth of 20 metres, thereby making it a prime transhipment cargo destination to handle Ultra Large Container Carriers. The project is expected to boost WCT's container handling capacity and further consolidate Sri Lanka's locational advantage as one of the world's top strategic nodes along the busiest global transhipment route. The Colombo Port is already the most preferred regional hub for transhipment of Indian containers and mainline ship operators with 45 per cent of Colombo's transhipment volumes either originating from or destined to an Adani port terminal in India. The network impact of this partnership is significant and expected to be mutually benefitted from the string of seven container terminals across its 12 ports that Adani operates along the Indian coastline handling an annual volume of over 6 million TEUs, APSEZ said in a statement. The partnership is expected to multiply and accelerate the transhipment options that will become available to serve various shipping lines and other potential port customers across the South Asian waters, benefiting both India and Sri Lanka in multiple ways, the statement added. Karan Adani, CEO and Whole Time Director of APSEZ, said: "Any port partnership is a validation of the mutual trust between two nations and in this context, the WCT partnership is significant on several fronts. It is a continuation of the deep and mutually beneficial strategic relationship between two neighbouring nations." "The combination of the strategic location of the Port of Colombo as a launching point for transshipment across the entire subcontinent, the deep domestic strength of SLPA and John Keells Holdings PLC, and the Adani Group's unmatched network of container terminals across the Indian coastline opens up several dimensions of growth possibilities for years to come, not just within our two countries but also to the east as well as the west of our two nations."

Adani Ports has bagged the contract to develop and operate West the Container Terminal in Colombo

AdPorts and Special Economic Zone on Thursday reported that its Profit After Tax or net profits during the just-concluded financial year 2023-24 grew by a whopping 50 per cent to Rs 8,104 crore. In 2022-23, they were at Rs 5,391 crore. During the fourth quarter January-March, the net profits grew 77 per cent to Rs 2,015 crore. Coming to the revenue from operations for the entire financial year and the fourth quarter, they grew 28 per cent and 19 per cent to Rs 26,711 crore and Rs 6,897 crore, respectively. 2023-24 has been a year of many new milestones for <keyword id="20038598" type="General" weightage="20" keywordseo="APSEZ" source="keywords" meta.keywordsubtype="org" meta.entityname="APSEZ" meta.hostid="261" meta.entityid="APSEZ">APSEZ</keyword> on both operational and financial metrics. <keyword id="20051210" type="General" weightage="20" keywordseo="Adani-Ports" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Ports" meta.hostid="261" meta.entityid="Adani Ports">Adani Ports</keyword> delivered 3x the India cargo growth rate and a record volume of 420 million tonne. "Clearly, the company's business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results, said Ashwani Gupta, Whole-Time Director and CEO, APSEZ. With incremental cargo volumes of 100 million tonne achieved in less than two years, Adani Ports is well poised to achieve 500 million tonne of cargo volumes in 2025, aided by the recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT (West Container Terminal) next year, said Gupta. "We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers. Our efforts towards sustainable business growth are well recognized in the top decile ESG rating from four global rating agencies," added Gupta. In 2023-24, APSEZ said it handled 27 per cent of the country's total cargo and 44 per cent of container cargo. Ten of its ports from the India portfolio recorded their lifetime high cargo volumes for the year. For 2023-24, the APSEZ Board has recommended a dividend of Rs 6 per share. This implies a payout of around Rs 1,300 crore for the company. A dividend is a reward that companies often provide to their shareholders, though it is not mandatory, from a portion of their earnings. APSEZ is the largest port developer and operator in India with seven strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in <keyword id="19906863" type="General" weightage="20" keywordseo="Gujarat" source="keywords">Gujarat</keyword>, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and eight ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry). SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Adani Ports' net profits jump 50% in 2023-24, registers threefold cargo growth

<ul class="summary-list"><li>Texans are showing love for <keyword id="6372044" type="UNKNOWN" weightage="60" keywordseo="grocery">grocery</keyword> chain <keyword id="9712169" type="UNKNOWN" weightage="60" keywordseo="h-e-b">H-E-B</keyword> on social media.</li><li><keyword id="46788" type="PERSON" weightage="60" keywordseo="Winter">Winter</keyword> storms left millions without power and water; H-E-B is known for disaster preparedness.</li><li>The chain has long been beloved in <keyword id="15710" type="ENTERTAINMENT" weightage="60" keywordseo="texas">Texas</keyword> and referred to as the state's "moral center."</li></ul>Severe winter storms devastated parts of Texas last week, <a href="https://www.insider.com/texans-share-accounts-of-water-shortages-burst-pipes-flooded-homes-2021-2">leaving millions</a> without power and drinking water in dangerously cold temperatures. Now, Texans are turning to the familiar for comfort and help in a time of crisis: H-E-B.Fans of the San Antonio-based grocery chain, which has dozens of locations largely concentrated in Texas, turned to social media to express gratitude for the store and talk about it being a staple in tough times.The chain has long been beloved in Texas. People buy shirts that say "H-E-B for President" and call it the "moral center of Texas," according to the <a href="https://www.nytimes.com/2021/02/22/us/texas-heb-winter-storm.html?campaign_id=9&amp;emc=edit_nn_20210221&amp;instance_id=27357&amp;nl=the-morning&amp;regi_id=82246330&amp;segment_id=52096&amp;te=1&amp;user_id=a3e25352985912d403394dc7b729ced75352985912d403394dc7b729ced7">New York Times.</a> It's also considered a "model of emergency preparedness" in <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword>, and by March last year it was already rolling out pieces of a <a href="https://www.austin360.com/story/lifestyle/food/2021/02/19/h-e-b-gave-away-free-groceries-after-store-lost-power-in-texas/4498735001/?utm_source=SND&amp;utm_medium=Twitter&amp;utm_campaign=austin360ustin360">pandemic response plan</a> first developed a decade earlier.When the power went out in one Austin-area H-E-B, store employees reportedly let customers get groceries and leave without paying. <a href="https://www.instagram.com/p/CLmSE6usY05/?igshid=unsaeb6yh65h">A video of the incident was posted on Instagram.</a>"Watching that video made me teary," Texas resident Katie Thurman told Insider in an email. "It was in the midst of the storm and so reassuring to see that H-E-B was already working to get Texas food and water when our elected officials where giving platitudes instead of plans. Many people have kind of jokingly said they wish H-E-B ran our government!"<div type="image" title="2021 02 19T162147Z_277557344_RC2SVL9OUFZL_RTRMADP_3_USA WEATHER.JPG" height="1536" width="2048" msid="81162698" hostid="261"></div>"HEB is so committed to making sure Texans stay safe during tough times like these. They helped organized safe, socially distanced lines for people to quickly shop and get their essentials during this huge storm, making sure they had as much stock as possible," Hannah Jacobs, another Texas resident, told Insider. "Acts of kindness like that make a huge difference in people's lives, shows true HEB values, and makes me want to keep supporting them in return. I definitely try to shop there as much as I can."

Texans are raving about H-E-B as the beloved grocery chain provides food and comfort amid a nightmarish storm

AP Photo/Steve LucianoNFL cornerbacks Richard Sherman and Darrelle Revis feuded on social media after the San Francisco 49ers won the NFC Championship.<ul class="summary-list"><li>The Kansas City Chiefs took down the San Francisco 49ers in an impressive 31-20 come-from-behind victory to secure the franchise's first Super Bowl victory in 50 years.</li><li>San Francisco cornerback Richard Sherman noticeably struggled to cover Kansas City receivers throughout Sunday game.</li><li>The five-time Pro Bowler's rough showing came just weeks removed from his public feud with New York Jets cornerback Darrelle Revis.</li><li>NFL fans - and Revis himself - took to Twitter to mock Sherman for his performance in the 49ers' losing effort.</li><li><a href="https://www.businessinsider.com/category/super-bowl-2020">Read more of Business Insider's Super Bowl 2020 coverage here.</a></li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The San Francisco 49ers blew a 10-point fourth-quarter lead to lose Super Bowl LIV in heartbreaking fashion.Five-time Pro Bowler Richard Sherman certainly did not help his team's effort.The notorious smack talker and esteemed cornerback blew coverage on key plays and struggled to contain Kansas City Chiefs receivers during Sunday night's contest.Kansas City wide receiver Tyreek Hill exposed Sherman early in the game. On first-and-10 with the ball on San Francisco's 36, Chiefs quarterback Patrick Mahomes hit Cheetah with Sherman on his tail. But instead of getting wrapped up, Hill dropped Sherman on the fake and jolted forward for an extra few yards.Then, with the 49ers trailing by four with 3:44 remaining in the game, Kansas City wide receiver Sammy Watkins danced Sherman right out of his cleats and left him in the dust for a 38-yard catch. The reception put the Chiefs in the red zone and in prime position to put the game out of reach for San Francisco.And, three snaps later, they did just that. Quarterback and eventual Super Bowl LIV MVP Patrick Mahomes found running back Damien Williams for a <a href="https://www.businessinsider.com/video-damien-williams-touchdown-chiefs-super-bowl-review-2020-2">five-yard touchdown pass that stood after an extensive review</a>.And guess who was covering Williams.The still of Sherman diving and missing Williams on the goal line is even more damning.AP Photo/Steve LucianoSan Francisco 49ers cornerback Richard Sherman fails to keep Damien Williams out of the end zone.After the game, Sherman acknowledged his disappointing performance with a tweet and promised to "fix that" for the future.Still, Sherman took some heat from San Francisco fans and doubters alike on social media, especially because the NFL veteran had exchanged some confrontational words with former New York Jets cornerback Darrelle Revis after the 49ers' NFC Championship victory two weeks prior.In a tweet sent on January 20 that has since been deleted, Revis accused Sherman of showing "fear of getting beat in man-to-man coverage.""Every snap every play," he wrote. "The fact that he doesn't travel as a cornerback is lame. Except the challenge as the best and shut Adams down the entire game. Do it for the game of football. Stop hiding a cover 3 zone."At the time, Sherman all but ended the discussion by announcing that he couldn't engage because he had "a Super Bowl to prepare for."Revis responded by defending his objectively impressive ninth year in the NFL:The two cornerbacks exchanged a few more Twitter blows from there before the conversation petered out. But Revis smelled blood in the water once Sherman struggled under the bright lights.In a tweet that he's since deleted, Revis simply wrote "Are y'all waiting for the flame?" in a not-so-subtle dig of Sherman's performance.Darrelle Revis/TwitterDarrelle Revis' tweet.After, he retweeted other users' posts making fun of Sherman.Read more:<a href="https://www.businessinsider.com/photos-kansas-city-chiefs-first-super-bowl-victory-50-years-2020-2">Here are the best photos from the Kansas City Chiefs' first Super Bowl victory in 50 years</a><a href="https://www.businessinsider.com/andy-reid-celebrates-super-bowl-with-biggest-cheeseburger-trophy-wife-2020-2">Andy Reid celebrated his first Super Bowl victory with 'the biggest cheeseburger you've ever seen' and night with his 'trophy wife'</a><a href="https://www.businessinsider.com/damien-williams-stops-sb-celebration-for-raheem-mostert-jersey-swap-2020-2">Chiefs Super Bowl hero Damien Williams paused his celebration to exchange jerseys with 49ers standout RB Raheem Mostert</a><a href="https://www.businessinsider.com/video-andy-reid-finger-point-chiefs-super-bowl-clinching-touchdown-2020-2">Andy Reid stays calm in chaos after the Chiefs' Super Bowl-clinching touchdown run to signal for the extra point</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-meals-are-made-for-super-bowl-54-miami-beach-2020-1">How 215,000 meals are made for Super Bowl LIV</a></h3>

Richard Sherman had a rough Super Bowl, and now he's getting roasted for his pregame declarations

<div class="KonaFilter image-container float_right"><div class="image on-image">REUTERS/Jim Urquhart</div></div>A Chinese <a href="http://www.coindesk.com/4-1m-goes-missing-chinese-bitcoin-trading-platform-gbl-vanishes/">Bitcoin exchange that held up to $4.1 million in users' accounts has gone offline</a> and everyone involved with it has vanished, according to CoinDesk.
The GBL exchange claimed to be based in Hong Kong but turns out to have been headquartered in China. <a href="http://www.thestandard.com.hk/news_detail.asp?we_cat=2&amp;art_id=139428&amp;sid=40855704&amp;con_type=1&amp;d_str=20131111&amp;fc=10">The Hong Kong Standard reports</a>:
The company appears to have launched in May 2013, with its domain btc-glb.com registered on 9th May and a post later that month by <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="Bitcoin">Bitcoin</keyword> Talk forum user zhaoxianpeng promoting the site.
Some mainlanders went to the IFC office listed on its website, but this turned out to be a false address.
Fourteen of them made a report to the Hong Kong police.
WantChinaTimes notes that <a href="http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20131105000045&amp;cid=1202">GBL had not obtained</a> any of the usual business licenses required to operate a financial services company. Bitcoin banks and exchanges have a habit of disappearing, the WCT says:
Research conducted by Southern Methodist University assistant professor Tyler Moore and Carnegie Mellon University assistant professor Nicolas Christin found that 18 of the 40 Bitcoin trading platforms set up in the past three years had closed, including TradeHill, which was once the second largest in terms of transaction volume.
Moreover, 13 of the discontinued services closed without any prior notice, while the remaining five were forced to shut down following hacker attacks. Only six of them were known to have offered refunds to users.
Business Insider noted just a few days ago that an Australian Bitcoin bank, <a href="http://www.businessinsider.com/1-million-bitcoin-theft-in-australia-2013-11">"Tradefortress," closed with $1 million in Bitcoin funds missing</a>. The bank turned out to be operated by an 18-year-old boy who lived in a block of apartments in Hornsby, a suburb of Sydney.

A Bitcoin Exchange Holding $4.1 Million For 1,000 Customers Has Simply Vanished

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Ray Morris-HillThe first-round game between Magnus Carlsen and Maxime Vachier-Lagrave ended in a draw.</div></div></div>The <a href="http://www.londonchessclassic.com/">London Chess Classic</a> in underway in England and will continue until Dec. 13. This is one of the chess world's premier events, usually attracting all the top players, but this year it's extra-special.That's because it's the culmination of the <a href="http://www.businessinsider.com/the-most-important-chess-tournament-in-us-history-is-about-to-kick-off-in-st-louis-2015-8">Chess Grand Tour</a>, a brand-new, high-level <a href="http://www.businessinsider.com/the-worlds-top-chess-players-have-just-formed-a-new-1-million-professional-tour-2015-4">$1-million series</a> of tournaments. The tour kicked off at the beginning of the year with Norway Chess, played in the home country of current World Chess Champion Magnus Carlsen (it was won by former World Champion Veselin Topalev of Hungary). Over the summer, the tour pulled into St. Louis and the center of American chess, the Chess Club and Scholastic Center, for the <a href="http://www.businessinsider.com/something-incredibly-rare-happened-at-the-biggest-chess-tournament-in-us-history-2015-9">Sinquefield Cup</a>, won by Armenian Grandmaster Levon Aronian.Going into London, <a href="http://grandchesstour.com/tour-standings">no obviously winner for the Big Title has come to the fore</a>, although the US number one and world number 3 Hikaru Nakamura has finished third in the first two events and is now in second overall. Carlsen is in third overall, while <a href="http://www.businessinsider.com/the-us-is-about-to-become-a-chess-powerhouse-thanks-to-this-22-year-old-2015-5">Fabiano Caruana</a> - a young player often named as a future Carlsen challenger for the world title - is pretty far back in the field, in eighth place.The London event is hugely important because it represents the culmination of the the first serious effort to bring all the best chess players in the world together for a big-money contest that can signal a challenge to the World Championship cycle, which commences early next year with the Candidates Tournament. The winner of that event will face Carlsen to battle for the World Championship. The past two times around, it's been won by former World Champ Vishy Anand of India, who's also in the Grand Chess Tour field.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Alina L'AmiFabiano Caruana, a young American challenger to Carlsen.</div></div></div><h2>Corruption</h2>Many chess experts and observers consider the World Championship, as it's currently managed by chess's governing body, FIDE, to be a deeply corrupt affair that's controlled by the Russian chess elite and cronies of Russian President Vladimir Putin.The Grand Chess Tour, meanwhile, was organized in part by former World Champ Garry Kasparov, and of course we all know how he feels about Putin. He also ran for President of FIDE in 2014 and was beaten out by incumbent Kirsan Ilyumzhinov. So he moved forward with his efforts to create in the WCT a viable alternative to the WCC. Although he won't specifically cast what he's up to in those terms. The WCC after all is a multi-game affair (as FIDE now operates it) with only two player duking it out over several weeks. The WCT is tournament chess, but because it covers three events and puts the top guys over the board repeatedly, it's designed to find out who the best player is over a given span of time.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Chess Club &amp; Scholastic Center of St. LouisKasparov of GM Nigel Short announcing the Grand Chess Tour.</div></div></div>I spoke to Kasparov around the time of the Sinquefield Cup - named for retired financier Rex Sinquefield, who is almost singlehandedly transforming St. Louis into a global mecca for chess - and he seemed delighted at how the Tour was coming together. His ultimate stated goal is to professionalize the game, along the lines of other big-time sports, and attract the types of major sponsors who want nothing to do with the WCC cycle. "Garry does have an agenda, and it's very clearly not with the establishment," said Grandmaster Maurice Ashley, a chess commentator and tournament organizer, when I spoke with him during the Sinquefield Cup.<h2>Slow times in London Town</h2>So far, the London tournament has started off in slow fashion. Two rounds in, only the young Dutch GM Anish Giri has won a game. The rest have been draws. A lot of chess observers complain that there are too many draws in top-level chess. However, some of the draws can be chalked up to the ability of players to extensively study and prepare openings that are by their nature drawish.That's what happened in Round 2, in a game between Carlsen and Caruana. Every major encounter between these two is closely watched as a potentially preview of a future WCC.Carlsen was playing white, and he opened with the the deeply studied Ruy Lopez, one of the Cadillac openings at the GM level. I've <a href="http://www.businessinsider.com/magnus-carlsen-is-in-great-shape-after-game-1-of-the-world-chess-championship-2014-11">covered the Ruy Lopez before</a>, but briefly, you can see that white uses his bishop to challenge black's knight on the c6 square. The idea is straightforward: white wants to (possibly) trade the bishop for the knight, inflicting doubled pawns on black on the c-file, a liability if all the pieces are traded off and the battle goes into an endgame. Other stuff can happen, however. And at GM level play, rather than black accepting white's plan and taking on the doubled pawns, he can employ the Berlin Defense by playing his knight out to f6. For GMs, this move now sends the game in a drawish direction, thanks the the efforts of Vladimir Kramnik, who was credited with using the Berlin as a "drawing weapon" as black in his 2000 World Championship match against Kasparov.And here we see it yet again in the Carlsen-Caruana game in London:<div class="KonaFilter image-container display-table"><div><div class="image on-image">ChessBaseThe Berlin Defense.</div></div></div>I honestly don't know why anyone plays the Berlin against Carlsen, because the World Champ is such a fantastic endgame player. And wouldn't you know it, after 30 moves he managed to make things interesting, by getting his d-pawn all the way up the board to the d6 square, where, guarded by the white king, it function like a dagger into black's position. The risk for Carlsen is that his king is exposed to a back-rank checkmate, boxed in by a defensive screen of three pawns.<div class="KonaFilter image-container display-table"><div><div class="image on-image">ChessBaseHow to deal with that white d-pawn?</div></div></div>Caruana has to play sharp chess to deal with the threat, which he did, eventually finding a way to create a perpetual check on the white king by sacrificing a rook. <h2>Carlsen's pattern</h2>The thing to note about this game is that Carlsen is developing a pattern in ostensibly drawish openings, at last as far as I can tell. He strives to create an advanced pawn, forcing black in this case with the Berlin to make a lot of very accurate decisions at a point in the game when the calculations are difficult and time pressure could be building up. In fact, in a lot of the games of Carlsen that I've looked at over the past year or so, he's jammed a pawn into his opponent's position and compelled the other guy to figure out how to deal with it. This isn't really a subtle thing to do, but it does allow Carlsen to avoid falling into some the theoretical battles that don't always work out in his favor - for example, <a href="http://www.businessinsider.com/anand-crushes-carlsen-and-wins-game-3-of-the-world-chess-championship-2014-11">this game against Anand in the most recent WCC</a>.Regardless, I'm still pretty depressed whe I see an 1. e4 e5 opening that heads for the Ruy and the Berlin in GM play. I'd much rather see 1. d4 with a Queen's Gambit Declined setup, a very positional and strategic choice that can nonetheless lead to some beautiful chances for white; or a good old-fashioned Sicilian Defense from black, with 1... c5 played to counter 1. e4. And, interestingly, the only player in London who has gone for the Sicilian this far was Carlsen, in round one against Maxime Vachier-Lagrave of France. But that game ended in a draw.Anyway, stay tuned. In about a week, we'll have a Grand Chess Tour Champ who can (maybe) stand up next to the World Champ. And he may be the same guy! <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/police-officers-buy-boy-xbox-2015-12">Police officers bought an 11-year-old boy a brand new Xbox after his was stolen</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="gzdXRieTpef9qyyVxdrzXzAcb0w-l130" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The most important chess tournament in decades is happening right now in London

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20130123000112&amp;cid=1101">Internet Photo via WCT</a>Satellite image with carrier deck for comparison</td></tr></table><keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword>'s <keyword id="43746" type="ORGANIZATION" weightage="60" keywordseo="PLA">PLA</keyword> "sunk" a U.S. aircraft carrier during a war game in remote China using its DF-21D "Carrier Killer" missile, reports Taiwan paper <a href="http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20130123000112&amp;cid=1101">Want China Times</a>.
The China Times is a 63 year old Taiwanese paper slightly <a href="http://www.washingtonpost.com/world/tycoon-prods-taiwan-closer-to-china/2012/01/20/gIQAhswmFQ_story.html">slanted toward unification</a>, but with a solid reputation and accurate reporting.
The Times report originates with a Google Earth image published at <a href="http://www.saorbats.com.ar/foro/index.php">SAORBOATS</a> Argentinian internet forum.
The photo shows two big craters on a 600 foot platform deep in China's Gobi desert that Chinese <keyword id="6359526" type="COMPANY" weightage="60" keywordseo="Military">military</keyword> testers used to simulate the flight deck of an aircraft carrier.
There has been <a href="http://www.businessinsider.com/china-fire-carrier-killer-missile-taiwan-elections-2011-12">talk of the DF-21 for years</a> with estimates of its range, threat, and theater changing implications, but this could be the first known test of the rocket.
The Dong-Feng-21D ballistic missile is expected to ring China's coast on its truck-mounted launcher, posing a significant threat to U.S. Naval forces in the region.
The 21D is particularly deadly in that it streaks to the atmosphere guided by satellites and possibly GPS enabled drones, and then drops faster than sound straight down on its target.
<table class="image-container float_left" width="200"><tr><td><div class="image"></div><a href="http://2.bp.blogspot.com/_8nIIxjcsd-0/SdJ27ViQtaI/AAAAAAAABNs/ysxzDdgZ8FM/s1600-h/df21.jpg">Picassa</a></td></tr></table>Lacking a horizontal flight path could make it much more difficult to defend against and with the <keyword id="42407" type="ORGANIZATION" weightage="60" keywordseo="Navy">Navy</keyword>'s new carrier's running at <a href="http://costofwar.com/publications/2011/analysis-fiscal-year-2012-pentagon-spending-request/">$13 billion plus per ship</a>, losing one would be as great a financial blow as it would be psychological and tactical.
But <keyword id="6354810" type="ORGANIZATION" weightage="100" keywordseo="Defense">Defense</keyword> analyst <a href="http://thediplomat.com/flashpoints-blog/">Roger Cliff points out to The Diplomat</a> that the DF-21 faces a greater challenge than what it faced in the Gobi.
"The thing to keep in mind is that, in order for China to successfully attack a U.S. navy ship with a ballistic missile," <a href="http://thediplomat.com/flashpoints-blog/">Cliff told The Diplomat</a>, "it must first detect the ship, identify it as a U.S. warship of a type that it wishes to attack ... [then] over-the-horizon radars used to detect ships can be jammed, spoofed, or destroyed; smoke and other obscurants can be deployed ... and when the missile locks on to the target its seeker can be jammed or spoofed."
Which is good news for U.S. troops as they're now facing a greater number of deployments to the region <a href="http://www.businessinsider.com/us-deployments-to-asia-pacific-coincide-with-chinas-expansion-2012-3">than at any time since WWII.</a>

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