treasures aztec Given India’s strong position in the equities market compared to other global markets, experts believe that the IPO market is expected to stay bullish overall with the total worth of public offerings surpassing $20 Bn as against $16 Bn in 2024 In Q3 2024 alone, India saw 27 IPOs, marking a 29% surge from the corresponding quarter of the previous year Within the tech startup ecosystem, at least 23 companies are gearing up for public listings next year, which would further add to the new-age tech stocks baskets for potential investors India’s new-age tech IPO market saw a massive upswing in 2024, driven by increased investor confidence and a favourable macroeconomic environment. What does 2025 have in store for startups looking to join the IPO spree and enter the big leagues? As many as 13 new-age tech startups made it to the public markets in 2024, cumulatively raising over INR 29K Cr ($3.4 Bn). And in 2025, this number is expected to double with at least 23 new-age tech startups eyeing a public listing, and looking to raise more than INR 55K Cr ($6.4 Bn) cumulatively. As predicted in the beginning of the year, the general elections in 2024 played a pivotal role in the IPO numbers. In fact, in the startup ecosystem, only five startups got listed before the elections while the rest hit the market once there was more stability post the election results. In 2025, while no such major events are due, ongoing macroeconomic uncertainties like GDP downfall might make the public market volatile from time to time. However, given India’s strong position in the equities market compared to other global markets, experts believe that the IPO market is expected to stay bullish overall with the total worth of public offerings surpassing $20 Bn as against $16 Bn in 2024 . In Q3 2024 alone, India saw 27 IPOs, marking a 29% surge from the corresponding quarter of the previous year. These companies cumulatively raised $4.27 Bn or close to INR 35,000 Cr, registering a 142% increase year-on-year (YoY). With that, the domestic market commanded a 36% share of total listings in Q3 2024, surpassing the US, which held a 13% share. To be noted, some of the top IPOs of this season included Swiggy, Bajaj Housing Finance, Ola Electric, FirstCry and India’s largest-ever IPO, Hyundai Motor India. The new year is expected to be more eventful as the highly anticipated public offerings of companies such as Flipkart, PhysicsWallah, Ather Energy, Zepto, HDFC Credila, and even the Indian arm of consumer electronics giant LG are expected to go to the public markets. Lightspeed India managing director Anuj Bhargava believes that the public markets trends of 2024 will continue well into 2025 and the momentum is expected to be strong. “Though we have seen some recent softening, which was expected, fundamentally, nothing has changed. Domestic capital inflows remain strong and are getting stronger. While foreign investment inflows have been sporadic, I think that was also expected. And the market today is held together, in large parts, by domestic institutions, which was not the case a couple of years ago,” said GFC’s Bhargava. In 2025, Lightspeed is looking to book profits from some of its high-profile portfolio startups such as PhysicsWallah, OYO, Zepto, and Zetwerk. Besides Lightspeed, a number of other VCs would be hoping for similar outcomes in 2025. Peak XV Partners managing partner Ishaan Mittal, for example, said that the VC major continues to be excited about the opportunity in the public markets given the trends are extremely positive both on the supply side of securities and the demand side. “On the supply side of securities, which includes the companies going public, we have just seen the tip of the iceberg as we speak. Many market-leading, exciting companies are yet to go public in every sector – whether consumer brands or consumer internet companies like Meesho, fintech companies like Groww, or payments companies like Pine Labs and Razorpay. In the next 12-18 months, many of these companies will go public,” he added. Mittal believes that domestic capital and foreign capital investors are showing great interest in IPOs and their keenness to participate in the Indian public markets is evident from the reception for some stocks. Within the tech startup ecosystem, at least 23 companies are gearing up for public listings next year, which would further add to the new-age tech stocks baskets for potential investors. The list includes Ather Energy, BlueStone, CarDekho, CaptainFresh, Ecom Express, Fractal, Infra Market, IndiQube, ArisInfra, Innoviti, OfBusiness, Ola Cabs, Pure EV, Physics Wallah, Ullu, Smartworks, among several others. These startups are set to raise more than $6 Bn cumulatively in the process of fundraising via IPOs, as things stand. Depending on the market conditions, some of these companies might decide to trim the size of their IPOs. Of this, already nine startups have filed their respective DRHPs with the Securities and Boards of India (SEBI). Coworking space provider Smartworks and logistics startup Ecom Express have already received the market regulator’s approval to file an IPO. Unlike the past three years, when startups that made the public market debut were largely tech companies, in 2025, there is a big wave of tech-enabled startups eyeing public listings. For instance, BlueStone is a D2C jewellery brand with an online presence as a part of its business model. PhysicsWallah, looking to become the first Indian edtech platform to public, is also offline-heavy at the moment. Even though the startup has a major student base online, a significant 40% of its total revenue is from offline coaching centres. Similarly, the coworking space providers Smartworks, IndiQube, ArisInfra, DevX as well as WeWork and Table Space (also preparing for listing within a year or two), are platforms that use technology to enable their business processes, but in terms of the business model, they are largely similar to their traditional counterparts. Pointing to this trend, Aakash Agrawal, associate director, digital and new-age business at brokerage firm Anand Rathi, said that it will be important for the public market investors to be able to differentiate between pure-play tech companies and tech-enabled companies as that would be essential in deciding the valuation premium they can claim and growth opportunities they have. “Take the example of OfBusiness. While it’s a solid company with good profitability, we must also appreciate that it is essentially a trading company with a tech aspect to it. So, what kind of multiples does it find for itself? How does it price its IPO given it’s a technology company as well? These factors are going to be very interesting to see next year,” said Agrawal. Meanwhile, it is also interesting that there is a sudden surge in coworking space IPOs after Awfis made its successful public market debut in 2024. The market is attributing this trend to an increasing demand for flexible workspaces. A CEO at one of the leading coworking space provider companies told Inc42 earlier this year that India’s growth narrative, coupled with a commercial real estate boom, is creating a conducive environment for flexible workspace startups. However, as the market gets cluttered, it would be interesting to see if all the impending coworking space IPOs emerge victorious in their IPOs in the coming months. Speaking on the matter, Amit Ramani, CMD at Awfis, said that as coworking spaces prepare to enter a potentially crowded public market over the next 12–18 months, their success in securing favourable investor responses will hinge on several key factors, including financial health and profitability with investors focusing on companies that demonstrate sustainable revenue streams, robust growth trajectories, and resilience to market fluctuations. “Differentiation will play a critical role, with coworking spaces standing out by offering unique value propositions such as advanced technology integration, premium amenities, sustainable features, and services tailored to specific industries... Scalability and market penetration will be vital; companies with a diversified geographical presence and the capacity to scale seamlessly are likely to be viewed as more viable. Lastly, adaptability to evolving work trends – such as hybrid and remote work – through flexible offerings and innovative solutions will be crucial,” Awfis’ Ramani told Inc42. With the tech startup IPO boom, profitable exits are becoming super critical for VC funds and PEs. After the 2021 IPO boom, 2024 brought a deja-vu moment for the PEs and VCs in India as the total gross exit value was $1.8 Bn in 2024, close to $2.3 Bn in 2021. Amid a global IPO market slump that had also adversely affected India’s stock market, the total gross exit value dipped to $700 Mn in 2022 and $1 Bn in 2023. Next year, top private investors including the likes of Lightspeed, PeakXV, Accel, and SoftBank are eyeing far more gains by offloading stakes in both pre-IPO rounds and during the IPOs. Even though some VCs and PEs might sell some stakes at a loss, it will be compensated by high returns from other portfolios. “Our focus is to continue to invest with a strong belief that we, in the venture capital industry, now have a very viable path to exit, not just a very strong IPO market about that, but also a strong pre-IPO market,” added Lightspeed’s Bhargava. The concept of pre-round IPO is also undergoing a shift. As Bhargava pointed out, traditionally this term was narrowly defined and it was a financing round just ahead of a company’s IPO to set a benchmark for the eventual IPO. “Now anything up to two years before an IPO is also a pre-IPO round. In addition to traditional crossover funds, lots of new pre-IPO funds have come up. We’ve seen family offices and HNIs being exceptionally active in this market. We expect this trend to continue,” he said, adding that the firm will certainly use pre-IPO rounds as an opportunity to exit some of its portfolio startups. Meanwhile, the Lightspeed MD also noted that several technical and fundamental dynamics decide the VC firms’ decision around partial and complete liquidation. “I think investors largely use IPOs as a partial liquidity sort of event, and then gradually exit over time. Similarly, on the pre-IPO side, people look to monetise also because we don’t want to go into an IPO with a very large shareholding from one shareholder. It places a bit of an overhang on the stock,” he added. Besides, it’s important to note that in most cases, these VCs are also reaching the end of their fund cycles and they have to realise profits to give return to their investors. With the successful IPOs of Hyundai and Swiggy in 2024, which were two of the largest IPOs in the history of the Indian equity market, the trend of large-sized IPOs are set to persist in the new year. Anand Rathi’s Agrawal said that while the small and mid-sized IPOs will be more frequent, there will also be 10-20% of the companies, which are eyeing large IPOs such as PhysicsWallah, Infra.Market and OfBusiness. “We think the IPO market will have secular growth next year. And these companies that will have large IPOs are private equity backed, raised a lot of private capital, and scaled up significantly, which warrants a large IPO,” he added. Even though it was evident this year that many new-age tech startups, including ixigo, FirstCry, Ola Electric, MobiKwik reduced their respective IPO sizes from earlier planned, Peak XV’s Mittal believes that the scale of offering have no bearing on the success or failure of IPOs if the fundamentals are strong. The verdict of the market is clear when it comes to profitability – become profitable ahead of the IPOs or show a clear path to profitability in the near term. This sentiment is not going to change in 2025. However, the recent IPOs of MobiKwik, Ola Electric and Swiggy (to some extent) have proven contrary to these expectations. Some investors believe that sometimes household names, clear growth opportunities, and exposure to niche market segments might cause such exceptions but largely, profitability and strong unit economics are a must for the public market. Peak XV’s Mittal said that profitability must be and will continue to be key for companies going IPO, however, this factor also needs to be contextualised. “This is a good time where founders and investors alike are focusing on profits. They are able to generate those profits without hurting the core of the business or without taking away from the future of the business. While profitability is important, we don’t want to compromise on the future potential of the company to optimise for short-term profits, we would rather optimise for long-term profits.” Taking a slightly different perspective, Lightspeed’s Bhargava argued that unlike in the US where companies with less than $10 Bn or $15 Bn in valuation do not receive much attention in the IPO market, Indian investors are open to much smaller valuations. “Promoters, founders, and early-stage investors are also conscious that you cannot price an IPO where you bring nothing to the table near term for incoming investments. At the same time, the IPOs cannot be very small because the companies need institutional investors following, index inclusion, liquidity in the market. But the point is, you also do not need to be a billion-dollar company to list in India,” Bhargava said. On the other hand, it goes without saying that profitable companies can command a premium in terms of the valuation. “Ultimately it boils down to growth, free cash flow, and profitability. Wherever there is an opportunity to grow, we will see promising valuations. Sometimes valuations might be slightly steep given that they are accounting for a future market opportunity and scalability. Zomato has been an example of it earlier. Swiggy too cashed on that,” said Anand Rathi’s Agrawal. As per various publicly available data, Foreign Institutional Investors (FIIs) sold a net of INR 1.14 Lakh Cr in October 2024, the highest selling in a month so far, surpassing the numbers of Covid-19 pandemic period in March 2020. Amid many currently seeing the Indian market as overvalued, rising inflation, and a few other global macroeconomic factors, in 2024, FIIs have been the biggest sellers. Even though this has caused volatility in the market, the Domestic Institutional Investors (DIIs) kept buying. In October alone they made the highest purchase of more than INR 1 Lakh Cr. The market experts believe that FIIs selling will not impact the upcoming IPOs of 2025 as DIIs will remain strong and mutual funds are booming. Even retail investors are expected to show continued support even to the new-age tech startup IPOs given these investors now have an improved understanding of the peculiarities of these businesses. “If FIIs stop deploying capital, then it causes a larger problem. But currently, there’s no sign of that. And in fact, India is looked at as a sweet spot in the developing world,” Agrawal said. Sector-focussed policies play an important role in driving stock performances and even the companies going public. Devang Kabra, fund manager at Wallfort PMS, said that the policies the government tabled in the winter session of the Parliament will be one of the areas to watch out for. “For example, there is an Insurance Amendment Bill proposing 100% FDI, allowing relaxations for net worth requirements for companies to become insurance companies is tabled. Once it passes, we will see many big insurance brokers turning themselves into insurance companies and coming out with IPOs,” Kabra said. He said that once a policy decision happens, it impacts several other industries down the line. This Insurance Amendment Bill might lead to IPOs of more hospitals. To quote global brokerage Bernstein, “Trump’s return through high-profile US elections added new layers of complexity to inflation dynamics and geopolitical assessments... How will global inflation pan out with Trump at the helm, and will export be a more critical area to focus on than domestic cycles?” It is important to note that Trump’s win strengthens US’ “China+1” strategy, which is expected to give India a boost in its manufacturing sector. JM Financial said in a research report that China, Mexico and Canada will likely attract higher tariffs, which could provide India with the benefits in a number of manufacturing segments — chemicals, auto components, electrical components, solar panels and solar cells, tiles and other categories. Wallfort PMS’ Kabra also believes that the manufacturing sector will now pick pace further and there will be stronger ground built for their IPOs. However, domestic IT companies now might have to deal with stronger immigration rules in the US. Plus, there is higher inflationary pressure and increasing pressure on the Indian rupee. These volatile situations are less likely to impact the IPO sentiment in the long run in 2025, however, some short-term cautiousness is likely to linger in the early months. As the domestic market braces for a record year in the history of public markets, as predicted by market experts, it will also be key for the companies, especially new-age tech startups, to ensure transparent governance and clear strategic vision. After all, public markets are sensitive to these core factors. The recent incident of hoards of complaints against Ola Electric’s products and services and the negative impact of it on its stock is a case in point. While many believe that startups are riding the IPO boom without being ready enough to function in a public market, Gautham Srinivas, Partner, capital markets at Khaitan & Co., said that all the companies preparing to go public have the utmost checks in place to meet the regulatory requirements. “Public issues are not a one-month process. To file DRHP, a company needs two to three months. So, an absolutely thorough check gets done. All the upcoming new-age companies are equipped to handle a public issue from a regulatory point of view given the standards of governance they already maintain,” Srinivas added. Edited By Nikhil Subramaniam

How a Temecula man dealt with freedom after he was wrongfully locked in prison for 20 yearsThe story of Jesus did not begin with his birth in Bethlehem, but rather with the Easter experience. Jesus was put to death on Saturday (Sabath) evening. On Sunday morning (the first day of the week), the disciples went to the tomb to anoint Jesus’ body according to the Jewish custom. However, they did not find his body. An angel told them, ‘He is not here; he has risen. Remember what he told you when he was still in Galilee: that the Son of man was destined to be handed over into the power of sinful men and be crucified, and rise again on the third day.’ Jesus’ resurrection was not only about the resuscitation of his physical body but it was also about how his Spirit now rises and lives in the lives of his disciples and the early Christian community. The early Christian community experienced in Jesus liberation, life and hope. They experienced Jesus as the Christ, the anointed one, the messiah, and Son of God. In Jesus they found life that was worth living and dying for. The Easter experience charged them with a mission to proclaim the good news of Jesus Christ. Thus the Easter experience saw the beginnings of the Jesus story. From the empty tomb to the manger The story of Jesus was first proclaimed orally. The message was simply that Jesus who was crucified and died is now risen. He is the Messiah, the Christ, the Son of God. As the authors of the four gospels, Mathew, Mark, Luke and John began to write about the life, teachings, and his ministry they began to include the earlier parts of the life, particularly his ancestral origins and birth. Only Mathew and Luke’s Gospels record the story of the birth of Jesus and they are the primary sources of the story of the birth of Jesus. Mathew’s gospel Mathew presents Jesus’ genealogy making him a descendant of Abraham and David. The genealogy locates Jesus in the Jewish Salvation history. As expected of a patriarchal society, Mathew lists the men who were part Jesus’ genealogy. Surprising, the genealogy records four women (Tamar, Rahab, Ruth, Bathsheba) who were known to be sexually scandalous. These women also played an important role in Jesus’ genealogy and God’s plan. Mary, the mother of Jesus also gave birth in an extraordinary circumstance. The inclusion of these women shows that God works even in the crooked and messy lines of human history. The genealogy presentation format changes when Mathew introduces Joseph. Rather than introducing Joseph as the father of Jesus, Mathew introduces Joseph as the husband of Mary of whom Jesus Christ-the Messiah was born. Joseph is of the house of David. In Mathew’s gospel, the angel appears to Joseph instructing him to take Mary as his wife. Mathew makes an important point about Jesus’ identity, namely that he is Son of David as well as Son of God. Luke’s gospel Luke does not record the genealogy of Jesus; instead, he begins with the Angel appearing to Zechariah to announce the birth of John the Baptist. Zechariah and his wife Elizabeth are in their old age and they longed to have a child. John’s birth follows the story of some old couples in the Old Testament who conceived a child in their old age. In the Book of Genesis God promises to Abraham and Sarah that they will have child. In the Book of the Prophets (1 Samuel) tells the story of another old couple Elkanah and Hannah who give birth to Samuel. The two books, Genesis and the Prophets represent the Jewish bible. The birth of John prepares the time of Christ. Birth of John links the three era in Judeo-Christian faith: Law, Prophets, and the time of Jesus. The four gospels all write about John the Baptist because he has an important role in God’s plan. John’s gospel John’s gospel totally omitted the story of the birth of Jesus. Instead, he moves the Jesus story beyond the Judaism history of salvation to include the history of creation. “In the beginning with was the Word: The Word was with God and the Word was God. He was with God in the beginning.” John locates Jesus Christ with God before creation came into being. Jesus the Christ, the Word was in the beginning with God. Jesus the Christ-Word existed before the Jesus of Nazareth. Message of the story of the birth of Jesus The four gospels have a common intention, to show the relevancy of Jesus to the whole of world history. God is at work from the beginning of creation; Jewish salvation history; the time of Jesus and the future. Christmas therefore remembers, celebrates and reminds us that God has been working right from the beginning of the universe, in human history and will guide the future through Jesus Christ. Christmas calls us to work with God for liberation, justice, peace and love. Christmas calls us to read the signs of the times and to interpret them in the light of the gospels. Today Fiji faces challenges from drugs, past and present political traumas, domestic violence, impacts of climate change and globalisation and other social issues. May this Christmas inspire us to reflect and participate in God’s plan, even in the darkest moments of our history. May you have the peace and joy of Christmas Father Christmas poses for a photo with children outs TappooCity in Suva. Picture: ANASEINI DIMATE Families enjoys the sight of the Christmas tree at Damodar City in Suva. Picture: LITIA RATOVA

Online Therapy Services Market , 42% of Growth to Originate from North America, TechnavioA series of drone sightings over New Jersey that began in mid-November has left residents and lawmakers spooked about the possibility of foreign adversaries breaching US airspace with drone swarms. While officials have attempted to reassure the public, some lawmakers have stoked fear , leading to widespread panic on social media, with people interpreting anything moving in the night sky as a potential drone (even commercial jets and stars). Days ago, the FBI and the US Homeland Security Department released a statement indicating, "We have no evidence at this time that the reported drone sightings pose a national security or public safety threat or have a foreign nexus." "Historically, we have experienced cases of mistaken identity, where reported drones are, in fact, manned aircraft," the federal agencies said. White House national security communications adviser John Kirby said many of the purported drone sightings are commercial jets with no evidence of a national security or public safety threat. If actual 'truck-sized' drones (some say Iranian origin) were flying in some of the world's most restricted airspace, let's use common sense—the Pentagon would have scrambled F-22s and F-35s on the East Coast almost immediately. Since that hasn't happened (as far as we know), we can't help but be suspicious about the whole drone situation. Additionally, no private satellite data shows that Iranian drone carriers are parked off the coast; in fact, these vessels are located 7,500 miles away . Let's take a step back and review some of Elon Musk's tweets on X: Sept. 30: "Drone swarm battles are coming that will boggle the mind" Sept. 29: "Epic drone wars coming" Sept. 5, 2023: "The Drone Wars are already a big deal, but we ain't seen nothing yet ..." What did Elon know ahead of time? Even President-elect Trump wrote on the Truth Social platform: "Can this really be happening without our government's knowledge? I don (sic) think so! Let the public know, and now. Otherwise, shot (sic) them down!!! DJT." Fox News reporter Bill Melugin asked Musk on X his thoughts on the situation... "Alien spaceships controlled by Iran obv," Musk replied. Alien spaceships controlled by Iran obv No actual drones have been recovered, and footage on X frequently features amateur videos mistaking drones for commercial aircraft. Furthermore, as far as we know, the FAA has not closed large sections of airspace or diverted planes. While we are not dismissing the possibility of foreign adversary-operated drones breaching heavily restricted airspace, we are pointing out the extraordinary hype on social media (with no substance), which has caused widespread panic with some users on X calling this a "psyop." This is a psyop in and out. I have been tracking flights in and out of the NY, NJ region while these drones were in the sky, and not a single airspace alert or diversion was issued for flights passing overhead. If the US government suspected foreign controlled, possibly hostile,... pic.twitter.com/ilmrqiGKB2 Elon Musk put this out months before the current drone psyop over New Jersey .. Wait for the prepackaged "solution" from this latest government manufactured crisis to come in the form of Elon's Starshield and Peter Thiel's Palantir pic.twitter.com/CMkagUncEH Is this the cause of the drone uproar? The FAA reauthorization act of 2018 expires on Dec 20th. The “replacement” being pushed is a bigger grab at taking our freedoms. New H.R.8610 (Counter-UAS Authority Security, Safety, and Reauthorization Act of 2024) which will include... https://t.co/UtNSGZ2IGY The "FAA Reauthorization Act of 2018" expires on December 20th of this year. So the Federal Government is literally using a terrorism drone mystery psyop against you to manipulate Congress into passing the new H.R.8610 (Counter-UAS Authority Security, Safety, and... Let's say some of these drone sightings were real. Then, maybe... pic.twitter.com/a8NHe1HIJa X user mcm_ct_usa makes the point the purported drone sightings could be a " psyop against you to manipulate Congress into passing the new H.R.8610 (Counter-UAS Authority Security, Safety, and Reauthorization Act of 2024) which will include appropriations and enhanced government powers to control you, and they're even going so far as to use it to push for acts of war against other countries." DRONE MYSTERY SOLVED The "FAA Reauthorization Act of 2018" expires on December 20th of this year. So the Federal Government is literally using a terrorism psyop against you to manipulate Congress into passing the new H.R.8610 (Counter-UAS Authority Security, Safety, and... https://t.co/4to0q3xx15 It's coincidental that last week, a Homeland Security joint subcommittee held a hearing on H.R.8610, the Counter-UAS Authority Security, Safety, and Reauthorization Act . This bill would renew and reform counter-UAS legal authorities and strengthen the FAA's oversight powers of drones. " The reason we need legal authority is that without it, use of the most effective types of drone detection and counter-drone technologies could violate criminal laws , including those that prohibit destroying or disabling aircraft in flight and intercepting signals and communications," said Brad Wiegmann, the DOJ's deputy assistant attorney general for national security. With current drone-countering authorities set to expire on Dec. 20, the sudden surge in purported drone sightings and the accompanying MSM and social media panic might make a bit more sense—as an effort to push for the reauthorization of Orwellian drone laws .

State of the City

A new study has demonstrated that a tiny bundle of optical fibers can continuously, accurately, and simultaneously measure six biomarkers of brain health, helping to prevent serious complications that can follow a traumatic brain injury. , a.k.a. fiber optics, uses pulses of light to transmit data along a bundle of thin strands of glass or plastic. It’s a technology that, more often than not, is closely associated with the internet, a means of achieving things like faster download and upload speeds and reduced latency. A new study led by Imperial College London (ICL) has used the technology to improve healthcare, particularly the diagnosis and treatment of dangerous swelling that can follow a . “Continuous and comprehensive brain monitoring is crucial for timely identification of changes or deterioration in brain function, enabling prompt intervention and personalized treatments,” said the researchers. “However, existing brain monitoring systems struggle to offer continuous and accurate monitoring of multiple brain biomarkers simultaneously.” Brain monitoring after a traumatic brain injury (TBI) is critical to patient care. After the initial injury, the brain swells, a delayed response known as a secondary injury. Swelling presses the soft brain tissue against the hard, inflexible skull, causing further damage. Secondary injury is the of hospital death. Unlike the initial injury, secondary brain injury can be mitigated by closely monitoring parameters such as EEG, intracranial pressure (ICP), cerebral blood flow, and brain oxygen levels. Separate devices are currently used to measure these parameters. For the present study, the researchers took advantage of technological advances to create a bundle of optical fiber sensors that simultaneously monitor six biomarkers that are indicative of brain health: temperature, pH, and concentrations of dissolved oxygen, glucose, sodium ions, and calcium ions. The biomarkers are measured using cerebrospinal fluid (CSF), the watery liquid that fills and surrounds the brain and spinal cord and provides nutrients, removes waste, and acts as a shock absorber for these delicate organs. The tips of six optical fibers were fitted with fluorescent sensors, which, by using a multi-wavelength laser, enabled the selective and continuous measurement of each of the biomarkers. A spare optical fiber was included in case it was needed for signal enhancement or a seventh biomarker. The fibers were bundled up into a 2.5-millimeter-thick (0.1-inch) catheter, which was initially inserted into animal brain models of TBI. Machine learning algorithms were used to decipher the incoming biomarker measurements. After demonstrating that the device could continuously and accurately measure the six biomarkers in animal brains, the researchers moved on to validating their findings using clinical human CSF samples. They obtained samples from 11 patients and used the optical fiber sensing system to measure the select biomarkers. “In the measurement of clinical human CSF samples, the multiplexed sensing system demonstrated high sensing precision for the continuous measurement of multiple biomarkers simultaneously with high selectivity and stability,” the researchers said. “Therefore, we conclude that the sensing system, coupled with intelligent algorithms, possesses great potential in the multiplexed monitoring of deep brain biomarkers for TBI treatment.” The device is not limited to only measuring six biomarkers, though. “In the current design, the system is developed for the monitoring of six biomarkers simultaneously with one spare fiber to accommodate a seventh biomarker,” said the researchers. “However, it is not the maximum capacity of the system. With careful optimization of the connector and individual fiber dimensions, it has the potential to measure more than 10 biomarkers concurrently. Achieving this would require additional lasers with varying wavelengths to efficiently excite all of the sensors.” And the researchers say the sensing device could be used in other situations. “The device also holds potential to be utilized with other modalities,” they said. “The device’s optical fiber-based design offers full compatibility with magnetic resonance imaging (MRI), making it suitable for use in MR-guided surgeries with long-distance fibers and remote monitoring capabilities. It could also be integrated with drug delivery systems, utilizing hollow fibers to directly measure responses to pharmacological interventions. Further studies are necessary to assess the performance of the sensing system in diverse environments to fully explore its potential in multiplexed sensing and beyond.” The researchers said that the probe’s small size and its being made from soft, highly biocompatible materials reduce the risk of it damaging brain tissue and prompting an inflammatory response, making it suitable for long-term implantation. However, the biocompatibility of the system needs to be evaluated over extended periods. “The system is minimally invasive, multiplexed, sensitive, selective, robust, and fully reversible and suitable for long-term applications,” the researchers concluded. “It holds great promise for precise and continuous monitoring of deep brain physiology, aiding in pathological identification and clinical guidance in various clinical cases, including but not limited to brain injury, ischemic or hemorrhagic stroke, and brain tumor resection.” The study was published in the journal . Source:PRINCESS ANNE, Md. (AP) — Ketron Shaw scored 30 points to lead Maryland Eastern Shore past Bryn Athyn 91-65 on Saturday. Shaw also contributed seven rebounds and six assists for the Hawks (2-11), who ended a seven-game slide with the win. Chris Flippin added 22 points and five rebounds. Evan Johnson had 14 points. Isaac Marshall and Jalen Cary both scored 15 to lead the Lions. Jalen Parker had 14 points, two steals and two blocks. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Stocks closed higher on Wall Street ahead of the Christmas holiday, led by gains in Big Tech stocks. The S&P 500 added 1.1% Tuesday. Trading closed early ahead of the holiday. Tech companies including Apple, Amazon and chip company Broadcom helped pull the market higher. The Dow Jones Industrial Average rose 0.9%, and the Nasdaq composite climbed 1.3%. American Airlines shook off an early loss and ended mostly higher after the airline briefly grounded flights nationwide due to a technical issue. Treasury yields held steady in the bond market. The yield on the 10-year Treasury was little changed at 4.59% THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Tech companies led a broad rally for U.S. stocks Tuesday, a boost for the market in a holiday-shortened trading session. The S&P 500 rose 0.8% in midday trading. The Dow Jones Industrial Average was up 273 points, or 0.6%, as of 12:18 p.m. Eastern time. The tech-heavy Nasdaq composite was up 1%. Chip company Broadcom rose 2.9%, while semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 0.8%. Super Micro Computer jumped 5.8%. Tesla climbed 5.1%, one of the biggest gains among S&P 500 stocks. Amazon.com rose 1.6% American Airlines slipped 0.1% after the airline briefly grounded flights nationwide due to a technical issue. U.S. Steel rose 1.1% a day after an influential government panel failed to reach consensus on the possible national security risks of the nearly $15 billion proposed sale to Nippon Steel of Japan. NeueHealth surged 68.9% after the health care company agreed to be taken private in a deal valued at roughly $1.3 billion. Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.61% from 4.59% late Monday. European markets were mostly higher. Markets in Asia mostly gained ground. U.S. markets will close at 1 p.m. Eastern and stay closed Wednesday for Christmas. Wall Street has several economic reports to look forward to this week, including a weekly update on unemployment benefits on Thursday. Tuesday’s rally comes as the stock market enters what’s historically been a very cheerful season. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950. The so-called “Santa rally” also correlates closely with positive returns in January and the upcoming year. So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Even so, the stock market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up about 26% so far this year and remains within roughly 1.3% of the all-time high it set earlier this month — its latest of 57 record highs this year. Alex Veiga, The Associated Press

Geode Capital Management LLC Grows Stock Holdings in Evolus, Inc. (NASDAQ:EOLS)It's the most wonderful time of the year! It's the time of year when you rekindle past friendships, visit with family, and look forward to putting together your seventh mock draft in three days as the Chicago Bears have been out of the playoff picture since Halloween. Another year, another disappointing season for the Bears' faithful. The team continues to reel and limp toward the conclusion of the season despite Caleb Williams being on the cusp of breaking franchise records held by Erik Kramer. It's fitting that as we air our grievances towards this team in Festivus fashion, the franchise passing yards leader shares his namesake with the cooky next-door neighbor to Jerry Seinfeld. So, I wanted to ask my brethren at On Tap Sports what their Christmas wish would be if given their druthers and afforded one wish granted by St. Nick himself. No constraints. No holds barred. Let's fix the Bears on Christmas – a Christmas miracle if you will, and this team could be poised to win its first playoff game under the leadership of George McCaskey. Seth Conklin : Give me the Lions' offensive line It would be simple and practical, and would fix an issue that Ryan Poles has not been able to remedy in his three years as the Bears' General Manager. It's equal parts infuriating and awe-inspiring to watch the Detroit Lions pick up five yards any time they elect to run behind future Hall-of-Fame right tackle Penei Sewell. When Brad Holmes was brought into Detroit alongside Dan Campbell, their focus on fixing the offensive line was a crucial mission from the jump. The Lions had a solid bulwark to work with prior to Campbell's arrival, with left tackle Taylor Decker and center Frank Ragnow being budding stars but not fully developed. When Holmes and Campbell drafted Penei Sewell in 2021 and signed guard Kevin Zeitler this offseason, their line propelled to tops in the league. It's been a methodical construction for the Lions' line, one that is constantly being supplemented both in free agency and through the draft. Resources are consistently poured into their line, and it's been a key component to Jared Goff's career resurrection. So, Santa, whaddya say? Can you deliver five 300+ pounders down the chimney and into Halas Hall? Samir Patel : George sells the team! It's no surprise that the fish rots from the head, and the McCaskeys have represented a stinky fish since their takeover. George McCaskey seems like a nice guy, a real humanitarian who enjoys cozying up with the fanbase and saying all the right things. But, like Buster Bluth, he's not much of an intellect when it comes to the football side of his football team . The Washington Commanders are a great example of what happens when competent ownership ousts a league pariah. Josh Harris, who also owns the Philadelphia 76ers and New Jersey Devils, purchased the Commanders last season and wasted no time in supplementing his front office with viable football people to run his football team. Adam Peters was brought over from the San Francisco 49ers, and Dan Quinn was hired to oversee a rebuild in the nation's capital. The result? The Commanders are a surprising 10-5, their first 10-win season since 2012. Ownership isn't some boogeyman, but the Bears' brass does favor nepotism and cronyism over any semblance of a meritocracy. Kevin Warren continues to be a wild card in that regard, but until there's tangible evidence that things are going to be different, then the fanbase can only do what our own Samir did: write a letter to the North Pole and beg for a change. Q: "I wish Jeffrey Lurie owned the team and brought Howie Roseman with him." It really is sickening to watch another storied franchise continue to make all the right moves while simultaneously having a fanbase that pelts Santa with AA batteries. The Philadelphia Eagles have been a poster child for sustained success; after winning a Super Bowl with Nick Foles and Doug Pederson in 2017, Roseman moved on after a few rough seasons from each and reached another Super Bowl with Nick Sirianni and Jalen Hurts. The Eagles, like the Lions, continue to inject talent into each of their lines. Their offensive line hasn't skipped a beat since All-World center Jason Kelce retired with the Eagles drafting Cam Jurgens back in 2022 as the heir-apparent. Roseman has been with the Eagles since 2000 and has been their general manager since 2010. In those 24+ years with the organization, the Eagles have rarely had any depth issues with any of their lines. Whether it was players like Jason Peters and Jon Runyan, Lane Johnson and Brandon Brooks, or Jordan Mailata and Cam Jurgens, the Eagles have had a solid, talented front-five to block for their quarterbacks. It is a straightforward team-building strategy that the Bears can't grapple with. From Jerry Angelo to Ryan Poles, the Bears seem almost to hold their nose when it comes to drafting hog mollies, and it shouldn't be a surprise that it's cost the team when it comes to developing their past three quarterbacks. Ron Luce: " All I want for Christmas is for the Bears to go to another city so they can't torture me anymore..." Bears fans are a special breed of masochists; we tune in to watch this team disappoint us weekly, and we do so during the holiday season. That said, since Kevin Warren can't find a place to build the new stadium after two years of aimless meandering the greater Chicago area, Ron may actually get his wish. There's an air of quiet apathy from the Chicago faithful this year. Soldier Field was reverberating with Jared Goff chants this past Sunday, and a once passionate fanbase seems almost resigned to each year of continued disappointment. As for myself, if I could ask Santa for one thing for the Bears, it'd be world peace. Just kidding, screw that. Give me Ozzie Newsome to replace Kevin Warren as team president. Newsome is what everyone is hoping Kevin Warren can become: a football lifer with a multitude of contacts. However, where they're different is that Newsome has experience building a Super Bowl-winning roster (twice) and a keen business sense to keep the Ravens both cap-healthy and flush with draft capital. So, Santa, if you're listening and have some extra room in your sack, a few of us have just some minor requests for our beloved Bears. After all, it'll take a Christmas miracle to fix the cycle of depression that's plagued this organization since its Super Bowl win almost forty years ago. This article first appeared on On Tap Sports Net and was syndicated with permission.The newly elected Governing Council of the University of Nigeria, Nsukka (UNN), on Tuesday, announced its readiness to embark on a transformative journey to shape the institution’s future. The University, under the leadership of General Ike Nwachukwu, the Pro-Chancellor, and Professor Polycarp Emeka Chigbu, the acting vice chancellor, concluded its governing council elections this week. In a statement, Prof. Ifeanyichukwu Abada of the Department of Political Science commended the university leadership for their meticulous planning and execution of the elections, which were widely praised as free, fair, and credible. The senate representatives of the Senate in the Governing Council are; Professor Ejim Emmanuel Chukwudi; Professor Idika Kalu Idika; Professor Attahmah Anthony; Professor Agwu Ekwe Agwu He noted that the stakeholders, including academic staff, non-teaching staff, alumni, and the wider university community, acknowledged the administration’s dedication to democratic principles. “Their election underscores the faith of the university’s academic body in their capacity to lead and contribute meaningfully to governance. Congregation Representatives: The Congregation elections affirmed the importance of inclusivity by featuring both teaching and non-teaching staff,” he said. “Mr. Temple Onwukwe was elected as the Congregation Representative for Non-Teaching Staff, recognized for his unwavering dedication to the institution. Professor Onyishi Ike was elected as the Congregation Representative for Teaching Staff, reflecting his peers’ trust in his vision and leadership.” Looking ahead, he said the newly elected Governing Council representatives face the significant responsibility of driving policies and initiatives that will propel UNN to greater heights. He added, “Their diverse perspectives and shared commitment to excellence provide a strong foundation for addressing the institution’s challenges and leveraging opportunities for growth. “UNN’s innovative approach to governance, particularly through the digital Convocation election, has established it as a leader in institutional modernization. The success of these elections signals a bright future for the university, where inclusivity, transparency, and technological innovation remain at the forefront of its vision.”

Justin Baldoni lost award, podcast co-host: The swift impact of sexual harassment claimsFox News Flash top sports headlines are here. Check out what's clicking on Foxnews.com. Texas Tech Red Raiders defensive back C.J. Baskerville called foul on Arkansas Razorbacks Fernando Carmona over an allegedly "dirty" play during the Liberty Bowl on Friday. Baskerville made the claim in a post on X on Saturday. He accused Carmona of stepping on the back of his ankle after a play and shared two videos as proof. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Nov. 30, 2024; Lubbock, Texas: Texas Tech Red Raiders defensive safety C.J. Baskerville (9) is honored on senior day before the game against the West Virginia Mountaineers at Jones AT&T Stadium and Cody Campbell Field. (Michael C. Johnson-Imagn Images) "There’s no denying that Arkansas played a great game last night, I am not taking that away from them. But #55 Fernando Carmona blatantly stepping on my ankle and pressing down on it on purpose is straight up dirty," Baskerville wrote on X. "Proceeds to say "got your b**** a***." Do better." Carmona, who is listed at 322 pounds, didn’t immediately respond to Baskerville’s post. The incident in question occurred in the fourth quarter of Arkansas’ 39-26 win over Texas Tech. Sept. 21, 2024; Auburn, Alabama: Arkansas Razorbacks offensive lineman Fernando Carmona (55) celebrates with fans after the Razorbacks beat the Auburn Tigers at Jordan-Hare Stadium. (John Reed-Imagn Images) MIAMI'S CAM WARD OPTS OUT OF BOWL GAME IN 2ND HALF AFTER SETTING TD RECORD, IGNITES SOCIAL MEDIA DEBATE Baskerville led the Red Raiders with 10 total tackles, and he had one pass deflection in the game. The senior wrapped up his 2024 season with 52 total tackles and four interceptions on the season. The defense got to Arkansas quarterback Taylen Green twice. Green managed to avoid most of the pressure and was 11-of-21 with 341 passing yards and two touchdown passes. The Razorbacks finished the season 7-6 and are on a three-game bowl winning streak under head coach Sam Pittman. Arkansas quarterback Taylen Green (10) runs the ball against Texas Tech defensive back C.J. Baskerville (9) during the second half of the Liberty Bowl NCAA college football game on Friday, Dec. 27, 2024, in Memphis, Tenn. (AP Photo/George Walker IV) CLICK HERE TO GET THE FOX NEWS APP The Red Raiders fell to 8-5 on the year. The team’s own three-game bowl winning streak was snapped with the defeat. Follow Fox News Digital’s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter .

Kim Dotcom shares first photo since life-threatening stroke, wishes followers Merry ChristmasGeode Capital Management LLC grew its holdings in Evolus, Inc. ( NASDAQ:EOLS – Free Report ) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,210,621 shares of the company’s stock after buying an additional 11,027 shares during the period. Geode Capital Management LLC’s holdings in Evolus were worth $19,616,000 as of its most recent filing with the Securities & Exchange Commission. Other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Evolus in the 2nd quarter worth approximately $43,000. Quarry LP bought a new stake in shares of Evolus in the 2nd quarter worth about $54,000. Profund Advisors LLC purchased a new position in shares of Evolus during the 2nd quarter worth about $130,000. Point72 Asset Management L.P. bought a new position in Evolus during the 3rd quarter valued at about $132,000. Finally, Arizona State Retirement System raised its holdings in shares of Evolus by 9.4% in the second quarter. Arizona State Retirement System now owns 14,603 shares of the company’s stock worth $158,000 after buying an additional 1,253 shares during the period. 90.69% of the stock is currently owned by institutional investors. Analyst Upgrades and Downgrades EOLS has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Evolus in a research note on Monday, September 16th. Barclays increased their target price on shares of Evolus from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Evolus in a report on Friday, September 13th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Evolus in a report on Thursday, November 7th. Evolus Price Performance Shares of EOLS stock opened at $11.09 on Friday. The stock’s 50-day moving average is $13.35 and its 200 day moving average is $13.73. Evolus, Inc. has a 1-year low of $9.80 and a 1-year high of $17.82. The company has a debt-to-equity ratio of 20.58, a current ratio of 2.47 and a quick ratio of 2.23. The company has a market cap of $702.23 million, a P/E ratio of -12.19 and a beta of 1.27. Evolus Profile ( Free Report ) Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults. See Also Want to see what other hedge funds are holding EOLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evolus, Inc. ( NASDAQ:EOLS – Free Report ). Receive News & Ratings for Evolus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolus and related companies with MarketBeat.com's FREE daily email newsletter .

Michigan diesel engine manufacturer to create 436 jobs with $285M expansion

Defense fund established by supporters of suspected CEO killer Luigi Mangione tops $100,000