Indian IT services firm Coforge announced on Friday that it will acquire AI company Encora for an enterprise value of $2.35 billion to strengthen its AI capabilities and expand in the U.S. and Latin America. Encora, backed by Advent International and Warburg Pincus, provides AI solutions in product, cloud, and data engineering, with Coforge projecting $2 billion in annual revenue by March 2027.
The combined entity is expected to achieve a pre-tax margin of 14%, with the acquisition projected to be EPS accretive by fiscal 2027. Analysts say the merger could help Coforge surpass Persistent, Mphasis, and Hexaware to become India’s seventh-largest IT firm. Coforge will fund the $1.89 billion equity portion by issuing preference shares at ₹1,815.91 each, representing an 8.5% premium to Friday’s close, while Encora shareholders will get a 20% stake in the merged company. Up to $550 million may be raised to pay off Encora’s debt via a bridge loan or qualified institutional placement.
The deal will bolster Coforge’s presence in the West and Midwest U.S. and provide access to Encora’s 3,100-strong Latin American workforce. Coforge reported FY25 revenues of ₹120.51 billion ($1.34 billion), up 32% from the previous year, while Encora had revenues of $516 million. The acquisition is expected to close within four to six months, with BDA Partners acting as the investment banker.
Disclaimer: This image is taken from Reuters.
Khyber Pakhtunkhwa Governor Faisal Karim Kundi has urged the provincial government to support military operations in the region, highlighting a sharp decline in security due to rising militancy, according to Dawn. Speaking at the National Press Club, he stressed that stability is essential for development, saying, "development projects cannot progress without stability."
He warned that insecurity negatively impacts the social and economic conditions in Khyber Pakhtunkhwa and emphasized that lasting peace is vital for business and investment. Kundi linked the rise in terrorism to Afghanistan, accusing Afghan nationals of participating in attacks in Pakistan, and stressed that undocumented foreigners, including Afghans, cannot legally remain in the country. He added that those wishing to work or study must follow proper legal channels.
The governor claimed Afghan nationals were involved in attacks in DI Khan and Cadet College Wana, asserting that Pakistan has repeatedly urged Afghan authorities to prevent their territory from being used for attacks. He further alleged that terrorist groups are supporting the interests of India and Israel, while Pakistan has successfully countered India both militarily and diplomatically.
Kundi also highlighted growing international interest in defense cooperation and trade with Pakistan, reflected in frequent visits by foreign leaders. On domestic politics, he encouraged resolving disputes through reasoned debate rather than personal attacks, implicitly referring to inconsistent statements from PTI leadership regarding government negotiations.
Disclaimer: This image is taken from X/@fkkundi.
Senior advocate and Rajya Sabha MP Kapil Sibal on Monday questioned the Election Commission over the deaths of Booth Level Officers (BLOs) during the ongoing Special Intensive Revision (SIR) of electoral rolls, criticizing what he called disproportionate focus on alleged infiltration while official workers were reportedly dying under pressure.
In a post on X (formerly Twitter), Sibal wrote: “SIR. Yet another suicide by a Bengal BLO. Total pan-India – 33. If one alleged ‘ghuspetia’ (infiltrator) is found, that’s not OK. If 33 BLOs die, is that OK?” His comments come amid mounting political tension in West Bengal. Chief Minister Mamata Banerjee has previously accused the BJP-led central government of using the SIR process to destabilize states ruled by the opposition. Banerjee has claimed that at least 40 people have died due to stress linked to the exercise and announced that the state would provide an ex-gratia of Rs 2 lakh to the families of the deceased and Rs 1 lakh to those hospitalized.
On Sunday, Trinamool Congress (TMC) national general secretary Abhishek Banerjee alleged that another BLO appointed by the Election Commission had died by suicide, citing "inhuman pressure" during the SIR process. Banerjee identified the deceased as Haradhan Mondal from the 249 Ranibandh Assembly Constituency, Part No. 206, and claimed his suicide note blamed the nature of the task assigned to him.
Earlier, a five-member TMC delegation met the Chief Electoral Officer of West Bengal, urging strict adherence to statutory procedures and protection of citizens from wrongful exclusion. The party said such tactics damage public trust and undermine the credibility of the electoral process, emphasizing that no force, conspiracy, or central machinery should silence the people’s vote in Bengal. The Election Commission has completed the Special Intensive Revision of electoral rolls in preparation for the next West Bengal Assembly elections, expected in March-April 2026.
Disclaimer: This image is taken from ANI.
The Supreme Court on monday stayed the Delhi High Court’s order that had suspended the life sentence of expelled BJP leader Kuldeep Singh Sengar in the 2017 Unnao rape case involving a minor. A three-judge bench, comprising Chief Justice of India Surya Kant and Justices JK Maheshwari and Augustine George Masih, also issued notice to Sengar regarding the CBI’s appeal against the High Court’s decision. The court emphasized that Sengar remains in jail for a separate case and directed that he should not be released while the matter is under review.
During the hearing, Solicitor General Tushar Mehta, representing the CBI, argued that under the POCSO Act, a "public servant" is someone in a dominant position over a child, and misuse of such a position constitutes an aggravated offence. He contended that Sengar, as a powerful MLA at the time, clearly abused his authority. Sengar’s lawyers countered that an MLA cannot be considered a public servant under the Act for aggravated offences.
The bench expressed concern that the Delhi High Court’s interpretation could wrongly exclude lawmakers from the definition of "public servant," potentially granting them immunity. The High Court had suspended Sengar’s sentence on December 23, noting that a prima facie case for aggravated penetrative sexual assault under the POCSO Act was not established.
The CBI challenged this, arguing that as a sitting MLA, Sengar held a constitutional position of trust and authority, and his actions fell under the aggravated offence provisions of the POCSO Act, which mandates a minimum of 20 years to life imprisonment. Sengar was convicted in 2019 by a Delhi trial court for offences under the IPC and POCSO, and the survivor was a minor who was allegedly kidnapped, raped, and trafficked by him in June 2017.
Disclaimer: This image is taken from ANI.
South Korean President Lee Jae Myung made his first commute to Cheong Wa Dae on Monday, restoring the historic palace as the presidential office after his predecessor Yoon Suk Yeol had moved it to the Defence Ministry complex. The return follows Lee’s election after Yoon’s removal over a brief martial law declaration and signals a break from his jailed predecessor’s legacy.
Disclaimer: This image is taken from Business Standard.
Polls have begun in Myanmar for its first nationwide election since the military overthrew the democratically elected government of Aung San Suu Kyi in the 2021 coup. The vote is being conducted under strict limitations and is only taking place in roughly one-third of the country’s 330 townships, as ongoing civil conflict between the military and various resistance groups has made many regions inaccessible. To discuss the situation, Andrea Heng and Hairianto Diman spoke with CNA Senior Correspondent Leong Wai Kit and Christopher Lamb, former president of the Australia Myanmar Institute, former Australian Ambassador to Myanmar from 1986 to 1989, and Honorary Associate Professor at the University of Melbourne.
Disclaimer: This podcast is taken from CNA.
For the rest of December, every Monday and Friday, we revisit some of our favourite audio long reads of 2025, each introduced by our editors. From October: Ben Giles, an extreme cleaner, has tackled everything from crime scenes to whale blubber, restoring order when people need it most. Written by Tom Lamont, read by Elis James.
Disclaimer: This podcast is taken from The Guardian.
Max Rushden is joined by Barry Glendenning, Lars Sivertsen, and Philippe Auclair to discuss the major stories from European football as winter breaks get underway. Listeners can rate, review, and share the podcast on platforms such as Apple Podcasts, Soundcloud, Audioboom, Mixcloud, Acast, and Stitcher, or join the conversation via email. In today’s episode, Raúl Jiménez maintained his perfect penalty record to help Fulham secure all three points against Nottingham Forest at Craven Cottage, concluding the Premier League’s long weekend. The podcast also provides updates from Europe’s top leagues, including Xabi Alonso’s continued tenure at Real Madrid, the tight race at the top in Italy, and the surprising team leading Ligue 1 at Christmas—who isn’t PSG. Additionally, the hosts cover the latest from AFCON and answer listener questions. Support for The Guardian is welcome, and Football Weekly is also available on Instagram, TikTok, and YouTube.
Disclaimer: This podcast is taken from The Guardian
During the daily markets analysis segment on Open For Business, Andrea Heng and Hairianto Diman held a discussion with Homin Lee, Senior Macro Strategist at Lombard Odier. The conversation focused on current global market trends, macroeconomic developments, and investor sentiment, offering expert insights into how shifting economic conditions are influencing financial markets and shaping near-term outlooks.
Disclaimer: This podcast is taken from CNA.
