All posts tagged: Loophole

Single exit, height loophole, pending demolition order: Lucknow fire building’s long list of violations

Single exit, height loophole, pending demolition order: Lucknow fire building’s long list of violations

Published by Parlour News

Fifteen people were killed and nine others injured when a massive fire ripped through a coaching centre in Lucknow’s Aliganj area on Monday. Fire personnel conduct a dousing operation after fire broke out at a commercial building in Aliganj, Lucknow. (PTI) What initially appeared to be an accidental fire is now under scrutiny for a series of violations in the commercial building that authorities say had been ignored for years. ALSO READ | Building sealed, FIR registered, 15 dead: What we know and don’t about the Lucknow fire A residential building operating as a commercial hub The three-storey building on Usha Mehta Marg was originally approved for residential use. It was still functioning as a commercial establishment housing multiple businesses, including a pet shop, veterinary clinic, gaming zone, animation centre and an IT office. According to government records, the property was approved under a self-certification building plan scheme in 2014 for residential purposes. Authorities later detected unauthorised construction on the premises. The Lucknow Development Authority (LDA) then initiated proceedings against the owners and issued a …

Shein and Temu depend on a 100-year-old tariff loophole that Trump wants to close

Shein and Temu depend on a 100-year-old tariff loophole that Trump wants to close

Published by Webster

President Donald Trump’s sweeping tariff threats have been touch and go. As it stands currently, the 25 percent tax on goods from Mexico and Canada is on ice for a month, but a 10 percent tariff on Chinese goods is set to take effect on Tuesday, via an executive order of questionable legality. Nestled within the order is a brief but important provision that could change how Americans shop online: the closing of a little-known loophole called the de minimis exception. Under the de minimis rule, packages that are valued under $800 can enter the US duty free, and recipients in the US can get up to $800 worth of stuff per day without paying import taxes. E-commerce giants like Temu and Shein (but also countless smaller operations) have used this loophole to ship low-value packages to shoppers, who, in turn, benefit from not having to pay import taxes on their purchases. Temu, Shein, and other companies that ship directly to consumers don’t have to store tons of merchandise in warehouses in the US: they …

How Lucknow Super Giants’ Impact Sub Pick vs Punjab Kings Exposes IPL Rule Loophole – Explained

Published by Webster

LSG defeated PBKS in their IPL 2024 match© BCCI Lucknow Super Giants decided to use KL Rahul as a specialist batter during their IPL 2024 match against Punjab Kings on Friday and replaced him with fast bowler Naveen-ul-Haq as the Impact Substitute. LSG started the match with Quinton De Kock, Nicholas Pooran and Marcus Stoinis as their overseas players and as a result, the decision to bring the Afghanistan cricketer as the Impact Sub was well within the IPL rules. However, the substitution took place during the LSG innings with Naveen coming out to bat at No. 9, the match officials found themselves in a situation that exposed a loophole in IPL rules. Rahul came out to bat as the opening batter and scored 15 runs in 9 runs before he was dismissed by Arshdeep Singh. Naveen replaced him in the playing XI and came out to bat at No. 9 but because of that, LSG actually had 12 eligible batters in their line-up. Mayank Yadav and M Siddharth were still there in the batting line-up …

Mango Markets Exploiter Tried to Exploit Aave Loophole: Here’s How the Attempt Failed

Published by Webster

Mango Market’s exploiter Avraham Eisenberg’s attempt to replicate his “highly profitable trading strategy” on decentralised finance (DeFi) protocol Aave has failed, resulting in the loss of millions. As per on-chain analytics firm Lookonchain, an address associated with Eisenberg, transferred $40 million (roughly Rs. 325 crore) worth USD Coin (USDC) into Aave to borrow Curve (CRV) token with the intention of shorting. This resulted in CRV price tanking by roughly 26 percent to $0.464 (roughly Rs. 37.34) from $0.625 (roughly Rs. 51.14) over the past week. That said, the move didn’t go entirely as planned as the community rallied behind CRV, buying the DeFi token and causing its value to spike 46 percent in the last 24 hours to as high as $0.71 (roughly Rs. 57.63). CRV war was played out on #Aave yesterday and ended with the longer defeating the shorter. 1.🧵 ponzishorter.eth shorted $CRV by borrowing and dumping $CRV;$CRV guardians bought $CRV, soaring the price to $0.72, and liquidating all collateral of ponzishorter.eth. — Lookonchain (@lookonchain) November 23, 2022 Blockchain analytics firm Arkham Intelligence …