Curren Affairs of DECEMBER ,2010
#Richard Holbrooke passes away. Richard Holbrooke (69), President Barack Obama's Special Representative for Afghanistan and Pakistan, died at George Washington University Hospital after undergoing two surgical procedures for repairing a tear in his aorta.
# Bihar scraps MLA fund. In yet another move aimed at nipping administrative corruption in the bud, Bihar's newly-formed National Democratic Alliance government formally announced its decision to do away with the MLA Local Area Development (LAD) fund. With this, Bihar becomes the first State in the country to do away with LAD funds for its MLAs and MLCs.The nodal agency for monitoring and implementation of the fund had also been changed.
“Forward Caste Commission” constituted in Bihar. Bihar government announced constitution of a “Forward Caste Commission” to study the conditions of the poorer sections among the upper castes.The move, a pre-electoral promise spelt out by Mr. Nitish Kumar in the Janata Dal (United) election manifesto, is widely viewed as a step to appease the disgruntled sections among the forward castes.
Centre willing to consider phased approach to GST roll-out. In its effort to end the deadlock over implementation of the Goods and Services Tax (GST), the Centre offered a phased approach to roll-out of the unified indirect tax regime with a view to evolving a consensus with the states. Finance Minister Pranab Mukherjee expressed the Centre's willingness to accept also a dual rate structure as a transitory measure to eventually lead to a model GST regime.
Govt looking at measures to check illicit fund outflows. According to the government sources, the rise in illicit fund outflows occurs primarily on account of trade mispricing and the Central Government was looking at measures to check the trend.There was an unmistakable trend showing that the Indian private sector had shifted away from bank deposits to OFCs (other financial corporations). The share of Indian OFC deposits increased from 36.4 per cent of total deposits in 1995 to 54.2 per cent in 2009. The increasing recourse to OFC deposits relative to the banking system was a matter of concern as currently over 60 per cent of global trade was handled by MNCs. According to recently-released report of Global Financial Integrity, a Washington-based think-tank, the share of illicit flows from India increased from 0.5 per cent of gross domestic product (GDP) to 2.4 per cent over a four-year period beginning 2000, at a time when flows from China dropped. to conter this trend, The government has created 10 overseas income tax units and two of these, in Mauritius and Singapore have already become operational. These offices will be dedicated towards exchange of information and assistance in rapidly taking forward resolution of tax disputes and also assistance in transfer-pricing cases.
Rani Yadav and Renubala suspended. Race walker Rani Yadav and long jumper Renubala Mahanta have been suspended for two years each for anti-doping rule violations. Both tested positive for 19-norandrosterone, a metabolite of steroid nandrolone in international competitions.
# Ruggiero to head Af-Pak mission. Frank Ruggiero, a career civil servant who served under late Richard Holbrooke, has been made the Acting U.S. Special Representative to the AfPak region and will be assisted by two deputies, Dan Feldman and an Indian-American Vikram Singh.
# SCOPE awards presented The SCOPE (Standing Conference of Public Enterprises) excellence award in the individual category was conferred on NTPC Chairman & Managing Director Arup Roy Choudhury as outstanding chief executive while Coal India Limited (CIL) Chairman P. S. Bhattacharyya was presented the ‘Special Award of the Jury' by the Prime Minister Dr. Manmohan Singh.The MoU awards were presented to PSEs in 12 sectors.
Chennai to host rubber expo. The All India Rubber Industries Association will be organising India Rubber Expo 2011, its sixth biennial international exhibition, at the Chennai Trade Centre from January 19 to January 22, 2011
#Panel for lower interest on farm loans The Working Group on Agriculture Production headed by Haryana Chief Minister Bhupinder Singh Hooda constituted by Prime Minister Manmohan Singh has suggested that the government provide farm loans to farmers at fourpercent interest rate, raise the minimum support price (MSP) for farm produce to 50 per cent higher than the actual cost of cultivation and expand diesel subsidy scheme across the country. It called for a Technology Mission on farm mechanisation and establishment of agri business centres by Self-help Groups.
Facebook founder named Time's 'person of year' Facebook co-founder Mark Zuckerberg beat WikiLeaks chief Julian Assange to be crowned Time magazine's "person of the year", even though the weekly's own readers thought it should be the other way around. Zuckerberg, only 26, is the second youngest person named to the cover of Time's ritual annual issue
India Set to Export 500,000 Tons of Sugar India will allow exports of around 500,000 metric tons of white sugar to enable local mills and growers cash in on surging global prices, Farm Minister Sharad Pawar said recently. The exports will be over and above the 623,000 tons of white sugar India has so far allowed to be shipped from September through March to meet a government condition that allowed local mills to import tax-free raw sugar between 2004 and 2008. India, the world's top sugar consumer, is uniquely positioned to export because its output is expected to exceed its annual demand by 2 or 3 million tons at 25.5 million tons in this marketing year that started Oct. 1.
Hall of Famer Bob Feller dies at 92 Blessed with a right arm that earned the Iowa farmboy the nickname "Rapid Robert" and made him one of the greatest pitchers in baseball history, Feller, who left baseball in the prime of his career to fight for his country, died Wednesday night. He was 92.
Soyuz crew blasts off on space station mission Astronauts from the U.S., Russia and Italy blasted off, casting a warm orange glow over the chilly plains of Kazakhstan with their Soyuz spacecraft as they began a mission to the International Space Station. Russia's Dmitry Kondratyev, NASA astronaut Catherine Coleman and the European Space Agency's Paolo Nespoli of Italy rode into space on the Soyuz TMA-20, which plans to dock at the orbiting laboratory.
India, China to raise bilateral trade to $100 bn by 2015 India and China agreed to raise the bilateral trade to USD 100 billion by 2015, step up investments and permit banks of other countries to open branches and representative offices. The two sides also decided to reduce the trade deficit, which is in favour of China, said a joint communique issued after talks between Prime Minister Manmohan Singh and Chinese Premier Wen Jiabao. "Set a new bilateral trade target of USD 100 billion by 2015. The two sides agreed to take measures to promote greater Indian exports to China with a view to reduce India's trade deficit," it said. The bilateral trade between India and China is expected to be around USD 60 billion in 2010. The bilateral trade imbalance was against India to the extent of USD 19 billion during 2009-10.
Rajasthan announces single window system The much-awaited “single window” facility for investors in Rajasthan was cleared by the State Cabinet recently. The Rajasthan Enterprises Single Window Enabling and Clearance Ordinance, 2010 for which the rules would be framed by a committee headed by the Chief Secretary, would be in place by January 1, 2011. With this Rajasthan would join the exclusive club of less than half a dozen States in the country where a pro-active approach is taken by the authorities to facilitate the potential investor with all clearances and other paperwork.
RBI cuts SLR by 1%; to infuse Rs 48,000 crore The RBI, in its mid-quarter review of the monetary policy, has decided to reduce the Statutory Liquidity Ratio (SLR) — the portion of deposits that banks park in government securities — by one percentage point to 24 per cent with effect from December 18. This means banks will be able to sell around Rs 48,000 crore from their securities portfolio worth almost Rs 12 lakh crore. Then the central bank will conduct open market operation (OMO) auctions for purchase of government securities for an aggregate amount of Rs 48,000 crore in the next one month. It kept its short-term lending (repo) and borrowing rates (reverse repo) to banks unchanged at 6.25 per cent and 5.25 per cent respectively. The cash reverse ratio also remains unchanged at 6 per cent of the banks’ total deposits.
Honda parts ways with Hero Hero Honda (Honda share 26%), one of the country's most recognizable brands, is set to don pure Indian colours with the Munjal family buying out its Japanese partner Honda in their joint venture, getting full control and say in India's biggest two-wheeler company. The JV, formed 26 years ago, had been one of the few surviving and highly successful cross-border partnerships. But independent ambitious plans of the two partners —particularly the Indian promoters—as well as rising differences saw the companies calling it quits, but without any acrimony.
India joins Eurasian Group India has joined the Eurasian Group, a regional group on enforcing anti-money laundering (AML) standards . Membership to the group, which also includes Russia and China, comes soon after India joined the Financial Action Task Force (FATF), the global body to combat money laundering and terror financing. India is the ninth member of the Eurasian group that also includes Turkmenistan, Serbia, Tajikistan, Uzbekistan , Belarus and, Kazakhstan . In a statement, the finance ministry said that support for India's membership was unanimous.
Saina Nehwal regains World No. 2 ranking India's champion shuttler Saina Nehwal regained the World No. 2 ranking again with 68811.2637 points. It may be recalled that the 20-year-old Saina was ranked World No. 4 before the recent Hong Kong Open which she eventually won to make it her third Super Series title this year. Wang Xin of China is ranked World No. 1 (71192.407 points), while Wang Shixian, also of China, is ranked No. 3 (67176.400 points) as per the latest BWF rankings released.
Rs. 350 crore for new scheme on climate resilient agriculture The Centre has allocated Rs.350 crore for implementation of a new planned scheme — National Initiative on Climate Resilient Agriculture — to address the impact of climate change on agriculture and allied sectors. About one lakh farmers from 100 districts in various States will benefit from the on-farm demonstration of climate resilient technologies that will be undertaken under the scheme during the remaining 11th plan period till 2012. Simultaneously, the Indian Council of Agriculture research will come up with a long-term strategic research plan on crop improvement to heat and drought stress, management of natural resources for adaptation and mitigation and innovative livestock management practices to minimise heat stress on animals.
Lakshadweep’s Coast Guard security gets a boost India’s coastal security apparatus around Lakshadweep chain of islands will receive a boost when a new Coast Guard (CG) station will start functioning at Minicoy Island. The CG station is being set up at a time when the Indian waters off Lakshadweep Islands chain in the Arabian Sea have witnessed increased pirate activity in recent months. The new station will come up at Minicoy as part of the Coast Guard’s plans to have 42 stations in place and running by the end of the Eleventh Five-Year Plan by 2012.
China to provide flood data of Sutlej river to India .China will provide India with real time flood data of Sutlej river during monsoon, according to an agreement signed between the two countries. Under the five year agreement, China will set up a special station in Tibet to monitor rainfall and flood situation to enable India get advanced warnings. In turn, India will pay Rs 12 lakh per annum to China. The money will be used by Beijing to maintain the station, sources in the Government told. The flood data will be provided twice daily between June and October every year.
ISRO to launch GSAT-5P The Indian Space Research Organisation (ISRO) is all set to launch GSAT-5P, a communication satellite to replace aged INSAT-2E, on December 20 from Sriharikota using a geosynchronous satellite launch vehicle (GSLV). According to ISRO director for publications and PR S Satish, this is the heaviest satellite ISRO is launching using GSLV, with a Russian engine. The launch vehicle is 51 metres tall, weighs 418 tonne and costs around Rs 175 crore. The satellite, with a payload of 2,310 kg, has cost ISRO Rs 125 crore. This satellite has 36 transponders — an automatic receiver and transmitter of communication or broadcast signals. A successful launch of the satellite will take ISRO’s transponder capacity to around 235 from 200 in orbit now.
Indo-Myanmar liaison meet proposes freer trans-border movement The second Indo-Myanmar Border Liaison Meeting between Moreh and Tamu liaison officers was held in Moreh. It focused on development of trade relations between the two countries through Moreh border town, proper maintenance of law and order in both bordering areas and maintenance of peaceful coexistence between the people. Sources said the Indian side proposed free movement of Indian and Myanmar nationals up to Mandalay and Imphal in the two nations. Myanmar delegates were positive and said they would pass on the decision to higher authorities.
Endosulfan situation extremely serious: NHRC Describing the tragedy sown by killer pesticide Endosulfan in Kerala's Kasaragod district as "extremely serious", National Human Rights Commission chairman Justice KG Balakrishnan on Saturday called for establishment of multi-speciality hospitals in Kasaragod for the treatment of victims like those allotted for the gas-hit in Bhopal. On a fact-finding visit to the pesticide-hit areas of Kasaragod district, the NHRC head said bringing relief to the victims of Endosulfan was impossible without the Centre's cooperation. He said the Endosulfan situation in Kasaragod reflected serious human rights violation.
Russia looking to set up more nuclear plants Russia, during the upcoming visit of President Medvedev, will also be looking for big business in the civil nuclear field, though there is trepidation over the impact of the Civil Nuclear Liability Act. Ambassador Alexander Kadakin said Moscow wanted to set up 14-16 new units, which would considerably reduce the costs. However, there should be a road map, meaning the construction schedule should be decided in advance. “If the planning is done nicely, within a few years one unit would be going critical every year.” He was expecting the Indians to offer a third site, besides the two nuclear parks allotted to Russia at Koodankulam in Tamil Nadu and Haripur in West Bengal.
Peace accord on Karbi Anglong in sight; settlement formula worked out The insurgent United People's Democratic Solidarity (UPDS) of central Assam's Karbi Anglong district, the Centre and the Assam government are inching towards inking a peace accord. The three sides are expected to freeze the settlement formula when the militant outfit holds the crucial next round of formal peace talks with Centre's interlocutor P.C. Haldar in Delhi on December 22. The frozen settlement formula will form the basis of the peace accord to be signed to pave the way for UPDS to lay down arms and return to the mainstream, to usher in permanent peace in the hill district.
Venezuela: Chavez gets decree powers Venezuelan lawmakers granted President Hugo Chavez broad powers to enact laws by decree, undermining the clout of a new congress that takes office next month with a bigger opposition bloc. Chavez opponents condemned the move as a power grab, saying the law gives him a blank check to rule without consulting lawmakers. The National Assembly approved the special powers for 18 months.
Malaysia Plans To Establish Two 1,000MW Nuclear Power Plants .Malaysia plans to build two nuclear power plants that will generate 1,000 megawatts each with the first plant ready for operation in 2021 and the second plant, a year later, as part of the overall long-term plan to balance energy supply. Energy, Green Technology and Water Minister Datuk Seri Peter Chin said the government would engage an international consultant to evaluate the location and requirement for such plants to be built
Arcelormittal Raises Baffinland Takeover Offer to C$492 Million ArcelorMittal, the largest producer of steel, raised its cash offer for Baffinland Iron Mines Corp. to C$1.25 ($1.23) a share and said the target company’s board supports the increased price. The offer for all of Baffinland’s shares and all of its 2007 warrants would make the deal worth more than C$492 million, Daniella Dimitrov, Baffinland vice chairman, wrote in an e-mail. The bid represents a 14 percent premium to the original bid, Luxembourg-based ArcelorMittal said in a statement. Warrant holders will get C$0.10 per warrant, Baffinland said. The minimum acceptance condition for the purchase has been lowered to 50 percent plus one common share, Arcelor said. About 25 percent of Baffinland’s stock has been tendered.
Madhya Pradesh tops in rape cases, Nagaland ranks lowest The number of rape cases across the country has increased.A total of 21,467 rape cases were reported in 2008, registering an increase of 3.5 per cent over the previous year.Madhya Pradesh reported as many as 2,937 cases, accounting for 13.7 per cent and highest of total rape cases, followed by West Bengal and Uttar Pradesh at 2,263 and 1,871 cases respectively. These states were followed by Maharashtra (1,558), Assam (1,438), Rajasthan (1,355) and Bihar (1,302). The lowest number of cases were reported from Nagaland (19).
Govt raises Rs 40,000 crore via disinvestment in 2010 Having begun 2010 with a wide gap between its income and expenditure, the government diluted its stake in nine state-owned companies, including Coal India, to raise Rs 40,000 crore that helped cut borrowings. The amount is the most raised in a year since the government began the programme of diluting minority stake or privatising vast swathes of public sector companies in 1991-92.
RBI forecasts the GDP growth at 8.5 per cent The strategy to communicate with the markets more frequently has paid off for RBI. Perhaps the biggest surprise in the mid-quarter review of RBI is the decision to maintain the GDP growth forecast at 8.5 per cent. The Statutory Liquidity Ratio (SLR), the proportion of deposits that banks have to compulsorily invest in government securities, has been brought down from 25 per cent to 24 per cent.Secondly, the RBI will also conduct open market operations (OMO) for purchase of government securities for an aggregate amount of Rs.48,000 crore.
Global meet on universal brotherhood opens in Colombo A global convention on universal brotherhood opened in Colombo to commemorate the visit of Sree Narayana Guru to Sri Lanka and to deliberate on his vision of an egalitarian and just society.The radical social revolutionary from Kerala, known for his saying, “one caste, one religion, and one god for humankind” visited the island nation in 1918 and in 1926. The Sree Narayana Guru Society was established here as per his advice
Laws violated in Ratnagiri, says ecology panel report The Western Ghats Ecology Expert Panel (WGEEP) headed by ecologist Madhav Gadgil has decided to walk the untrodden path. In the summary report which raises environmental concerns in the Sindhudurg and Ratnagiri regions of Maharashtra and emphatically supports the rights of its people, while strongly criticising the government's role, the WGEEP gave voice to the years of protests witnessed by the regions
Boom in harmful algal blooms Harmful algal blooms (HAB), lethal for human beings and marine ecosystems alike, are steadily increasing in intensity in the Indian waters. Researchers have found out that the toxic blooms had increased by around 15 per cent over the last 12 years in Indian seas
Immigrant bill defeated in US The US senate blocked a White House-backed bill to offer a path to citizenship to young undocumented immigrants who attend college or enroll in the military. Lawmakers voted 55-41, largely along party lines, to end debate on the Development, Relief and Education for Alien Minors ( DREAM) Act, falling short of the 60 votes needed to advance the bill and effectively killing it
Prince Harry honoured in Germany for African charity work Prince Harry, the thirdin- line to the British throne, has reportedly become one of the youngest members of the Royal
Family to receive the 'Golden Heart' award in Germany for his humanitarian and charity work.
Days after Wen visit, India notices 24 new projects on Brahmaputra Within days of Chinese Premier Wen Jiabao’s visit to India, intelligence agencies have reported 24 new projects (believed to be hydro-power projects) along the Brahmaputra river and its tributaries on the Chinese side. Intelligence indicates that the 24 projects now discovered are relatively small compared to the Zangmu project, the biggest identified so far by India on the Brahmaputra on the Chinese side. However, with limited means of verification, Indian officials can only hope that these are small run-of-the-river projects for local populations.
India, Mongolia hold joint military exercises The troops of India and Mongolia engaged in joint exercises, with the latest two-week drill in counter-insurgency ending in Belgaum. Nearly 30 officers and personnel of the Mongolian armed forces participated in the workout called “Nomadic Elephant” along with 50 officers and personnel of the Indian Army in
counterterrorism environment.
After long negotiations, Russia agrees to give visa-free transit Finally, after six years of negotiations, Russia has agreed to provide Indians visa-free transit through Russia and mandatory multiple-entry visas to second timers. The new agreement aims to enhance bilateral relations between the two countries by encouraging contact between businessmen, cultural, scientific and educational institutions, and to promote tourism.
Polio numbers hit record low. In what is being hailed as an “extraordinary achievement”, polio cases in India are down to 41 this year against 650 reported in 2009. Only 19 of these cases are from the “key reservoir” areas of Uttar Pradesh and Bihar. Together, the two states had accounted for 600 cases last year. Nigeria, which was the second worst-hit country last year after India, with about 400 cases, has also reported a drastic fall, with only 13 polio cases this year.
Russia, India aim for $20b trade by 2015 Russia and India have set an ambitious trade target of $20 billion by 2015, around four times the current bilateral trade level. Towards this, Russian and Indian companies inked nine trade and investment agreements/MoUs in sectors such as outer space, pharmaceuticals and life sciences, polymers, IT and telecom. The other sectors for cooperation include oil and gas, defence, mining, banking and finance, chemicals and fertilisers, agriculture and animal products. Both sides agreed that the trade level of $4.54 billion in 2009-10 was substantially below the potential. To boost trade and investment, a Protocol was signed by the Secretary, Department of Industrial Policy and Promotion in the Commerce, Mr R.P. Singh, and the Industry Ministry and Russia's Deputy Minister of Economic Development, Mr S.S. Voskresensky.
After 372 years, winter solstice coincides with lunar eclipse After 372 years, sky gazers are in for a special celestial treat as a winter solstice coincides with total lunar eclipse on 21st dec. The eclipse cannot be seen in the country as it occurs during daytime.The last time the two astronomical events coincided was on December 21, 1638.
. “Don't Ask, Don't Tell” law repealed The United States Senate took a historic step forward over the weekend as Congress passed a bill to repeal the controversial “Don't Ask, Don't Tell” (DADT) law, a ban on openly gay persons serving in the U.S. Military.
IndiGo is third largest passenger carrier India’s largest low-cost carrier, IndiGo, has replaced the state carrier, Air India (domestic), to become the country’s third largest carrier in terms of passengers carried.The overall passenger number for November grew by 25 per cent this year, compared with the corresponding month last year. The passenger figures for the month, released by the Directorate General of Civil Aviation (DGCA), show Jet Airways leading with 26.2 per cent followed by Kingfisher at 19.1 per cent. IndiGo is third with 17.3 per cent of the total passengers, followed closely by Air India (domestic) at 17.1 per cent. SpiceJet and GoAir were on the fifth and sixth position, respectively, with 13.3 per cent and 6.9 per cent
Biggest ever: Russia, India seal record fighter deal .India and Russia have finally signed a much-awaited contract that will lead to the joint design and development of a fifth-generation fighter aircraft (FGFA) for the Indian Air Force (IAF), a deal pegged at over $30 billion. The contract, signed during Russian President Dmitry Medvedev’s visit , has been described by the Defence Ministry as the “biggest Defence programme ever in the history of India”. Significantly, Russia has also agreed to provide high precision, military-grade navigation signals to India from its GLONASS global positioning system. This will be the first time that the Indian military will get access to such technology as it does not have access to military grade signals from the GPS system because India has not signed the CISMOA (Communication Interoperability and Security Memorandum of Agreement) with the US. The contract for preliminary design of the FGFA, signed between Hindustan Aeronautics Limited (HAL), Rosoboronexport and Sukhoi, will involve the development of a next generation fighter with features like advanced stealth, ultra manoeuvrability and hightechnology avionics.
India world's No. 1 destination for offshore outsourcing India is still the world's favourite destination for offshore outsourcing, but attractive cost structures in the Philippines, Vietnam and Indonesia and the rapid growth of the business in China are posing tough competition, according to a new study by Gartner Inc. In the study, the IT research and advisory firm identified the Top 30 countries around the world for globally sourced activities in 2010-11, rating them on the basis of 10 criteria.
Conde sworn in as first freely elected Guinea presidentAlpha Conde was sworn in as Guinea's first freely elected president, bringing the curtain down on half a century of despotism and military rule in the west African nation. Conde, 72-year-old veteran opposition leader, won 52.5 percent of a November vote against rival Cellou Dalein Diallo to become the first democratically elected president in the country since its independence from France in 1958.
Plan Panel to set ambitious growth targets for 12th Plan If this year's preparations on India's next Five-Year Plan (2012-17) provide any indication, the Planning Commission is likely to set ambitious targets for economic growth and infrastructure development for the period. Clouded by the global economic meltdown that began in 2008, the current Plan (2007-12) needed a lot of scaling down of the targets and the mid-term review was quite straight about it. Against this backdrop, the Plan panel kicked off the process of formulating the 12th Five-Year Plan, which may eventually see the official think-tank pegging the annual growth rate at 10%, up from 8.1 % in the current Plan. The Planning Commission started the process of preparing the Approach Paper in the second quarter this fiscal and it is expected to be ready by March, 2011. It is the key document on the basis of which the detailed Five-Year Plan is worked out. The 12th Plan will commence on April 1, 2012.
India to invest $250 mn in Rwanda An Indian company has signed a pact with the Rwanda Development Board (RDB) to invest $250 million for a knowledge hub and an integrated food park in this East African country, once associated with its fratricidal conflict that claimed nearly a million lives. India's Universal Empire Infrastructures (UEIL) has been in discussion with the Government of Rwanda for a few months and the company delegation also visited the capital of Rwanda. The delegation also held detailed discussions with six cabinet ministers of the Rwandan government.
India to gift Buddha statue to Lanka India will gift a 16-feet high Buddha statue to Sri Lanka to be installed at the Sri Dalada Maligawa temple in the central Lankan town of Kandy. The Dalada Maligawa or the Temple of the Sacred Tooth Relic is among the holiest of Buddhist shrines in Sri Lanka, and the Buddha statue will be installed at the entrance of the International Buddhist Museum complex of the temple. The statue is being installed to mark the 2600th year of the Buddha attaining enlightenment and the occasion will be celebrated by joint activities between the two countries.
China launches search engine to rival Google After taming Google into submission, China has launched a new search engine of its own to make foray into its 420 million-strong net users' market, a move believed to be aimed at taking firm control of the web media. Known as Goso.cn, China's very own search engine has been launched by the country's largest newspaper the Peoples Daily, which is the official daily of the ruling Communist Party of China (CPC).
. Prasar Bharati CEO suspendedPresident Pratibha Patil ordered suspension of controversial Prasar Bharati CEO BS Lalli. He is facing allegations of irregularities in the country’s largest public broadcaster. The suspension order has been signed by Patil, according to official sources. The action came after the Prime Minister’s Office forwarded to Patil the letter by the Information & Broadcasting Ministry recommending suspension of 63-year-old Lalli, a 1971-batch IAS officer of the Uttar Pradesh cadre. According to the Prasar Bharati Act, the chairman or a member of the body can be removed only by an order of the President on grounds of misbehaviour after the SC inquiry following a reference to it. The Member (Executive) is the Chief Executive of the public broadcaster.
Bangladesh renames mutiny-hit BDR as BGB Bangladesh has renamed its mutiny-hit paramilitary force BDR as Border Guard Bangladesh (BGB), changing its logo as well as uniform. President Zillur Rahman has assented to the Border Guard Bangladesh Bill 2010 that renames Bangladesh Rifles (BDR), changes its logo and provides death penalty for mutiny. Under the new law, the paramilitary agency will be known as the Border Guards of Bangladesh (BGB). The bill will come into effect from December 23
Scientists create mouse that sings like a bird Japanese scientists said they had produced a mouse that tweets like a bird in a genetically engineered "evolution" which they hope will shed light on the origins of human language. A team of researchers at the University of Osaka created the animal in their "Evolved Mouse Project", in which they use genetically modified mice that are prone to miscopying DNA and thus to mutations. "Mutations are the driving force of evolution. We have cross-bred the genetically modified mice for generations to see what would happen," lead researcher Arikuni Uchimura told
Army chief made Army hon general of Nepal Army Continuing a tradition of friendship between both armies, Indian Army Chief General VK Singh was decorated with the honorary rank of General of Nepal Army. President Ram Baran Yadav, the Supreme Commander of Nepal Army, conferred the honour to General Singh at a brief function held at Shital Niwas, the official residence of the Nepal President. General Singh is the second Indian army chief to be decorated with the honour this year. In January, his predecessor General Deepak Kapoor had been accorded a similar rank.
New anti-AIDS drug goes after virus, avoids side-effects German scientists have discovered a substance known as a peptide that thwarts the AIDS virus and causes far fewer side-effects than existing anti-HIV drugs. The breakthrough was reported in the science journal 'Science Translational Medicine' after it had been tested on 18 AIDS patients.But the scientists at Hanover university hospital or MHH in northern Germany said they have yet to find a way to put the substance, VIR-576, in a pill. All the test patients received it as an intravenous drip.Variants of the new therapy could also be devised to fight measles, hepatitis C and Ebola disease, they said. VIR-576 is a protein that smothers human immunodeficiency virus, stopping it docking with cells in the human body.
-Harvard professor receives SASTRA-Ramanujan Award Srinivasa Ramanujan has been the source of inspiration for all mathematicians in the world, Wei Zhang, professor of Harvard University, said. Professor Wei Zhang, a Benjamin Pierce Instructor at the Department of Mathematics, Harvard University, received the SASTRA-Ramanujan Award, instituted by the Shanmugha Arts Science Technology and Research Academy (SASTRA) University to encourage path-breaking research in Ramanujan Mathematics for 2010.
-$1 trillion investment envisaged in the XII Plan: Pranab Union Finance Minister Pranab Mukherjee said he saw the private sector chipping in with $500 billion (about Rs.22.50 lakh crore) for development of the infrastructure sector during the XII Plan (2012-17). “We are already envisaging doubling of infrastructure investment to around $1 trillion in the XII Plan, with half of it coming from the private sector,” he said, while delivering a key note address at the India Public Private Partnership conclave.
Credit default swap guidelines soon: Gokarn Reserve Bank of India Deputy Governor Subir Gokarn said that RBI would soon come out with the guidelines for credit default swap (CDS), an instrument by which a lender could insure the risk arising from its exposure to a borrower by transferring it to a third party. “The RBI will shortly come out with the guidelines for introduction of credit default swaps market, which can help develop the corporate debt market in some ways,” Mr. Gokarn told a seminar on debt markets.
Lifetime Grammys for Julie Andrews, Dolly Parton Sound of Music star Julie Andrews, country singer Dolly Parton and jazz drummer Roy Haynes will be honoured with lifetime achievement Grammy awards next year for their artistic contribution to the recording medium. The Recording Academy has also selected punk pioneers The Ramones, Juilliard String Quartet, the Kingston Trio and 101-yearold gospel legend George Beverly Shea for the lifetime Grammys.
Most expensive rail line in China becomes operational A new railway project in China considered to be the most difficult and expensive to build costing about USD 3.41 billion has become operational. The Yichang-Wanzhou railway will cut trips between Chongqing and Wuhan, capital of Hubei, from 22 hours to just five hours. It took seven years to complete the 377 km route. The length of track that runs through bridges and tunnels accounted for about 74 per cent of the line's total track.
US Congress okays H-1B, L-1 visa fee hike extension till 2016 While details of the “ James Zadroga 9/11 Health and Compensation Act of 2010” legislation finally passed by the two chambers were not immediately available, the expectation is that the hike on H-1B and L-1 visa fees will now go on till September 2016, instead of September 2021. The modified legislation would offer the first responders and other survivors $2.8 billion in compensation and $1.5 billion in health benefits over five years.
Bangladesh to investigate Grameen Bank operations Bangladesh Government will form a high-powered committee to investigate the alleged irregularities in the operations of Grameen Bank pioneered by Nobel laureate Muhammad Yunus. “A highpowered committee will investigate the matter,” chairman of the standing committee on Finance Ministry A NH Mostafa Kamal told. He said the committee would be formed within a few days. Kamal said the parliamentary watchdog has sought explanation from the Government why Grameen Bank is not being operated under the Microcredit Regulatory Act 2006.
Keltron signs MoU with Russian firm Keltron has signed a Memorandum of Understanding (MoU) with Moscow-based NIS GLONASS, one of the largest public sectorcompanies promoted by the Russian government. The MoU agrees to manufacture, marketand jointly promote products that draw upon the Russian satellite navigation system GLONASS. The system offered by NIS GLONASS will operate on both GPS and GLONASS navigation satellites, and hence provide better accuracy and reliability. This has enormousadvantage on Indian national security
Russian Parliament approves New START The Russian-American New START treaty won preliminary approval of the Russian Parliament, even as Moscow rejected as “unacceptable”the U.S. Senate ratification resolution. The State Duma, Lower House of Parliament,supported the treaty by a 350-56 majority in a first of three votes, but postponed its finalapproval till next year. In Russia, international treaties must be approved by both Houses of Parliament in contrast to the U.S. Russia's President Dmitry Medvedev hailed the pact as “a cornerstone of stability in the world and Europe for decades to come
India to sign trade pact with Japan, Malaysia and EU in first half of 2011 India willopen its trade in goods and services with Malaysia, Japan and the European Union in the first half of 2011. The first half of next year would witness signing of comprehensive marketand investment promotion agreements with Japan, Malaysia and the EU. India has already signed a framework agreement for the Comprehensive Economic Cooperation Agreement (CECA) with Malaysia and concluded negotiations for a similar pact with Japan
Rebalancing necessary for sustainable growth in Asia: IMF While economic growth in Asia, including India, has been strong in 2010, its sustainability in 2011 will require “policytightening,” lesser reliance on export-led growth and an overall rebalancing that requires moving away from this year's stimulus policies, according to Anoop Singh, Director for the Asia-Pacific region at the International Monetary Fund (IMF).
Bihar plans for developing Rajgir as model of eco-tourism A comprehensive actionplan will be made soon for developing the Gridhakut hills and the nearby Ghorakatora lakeas a model of eco-tourism at Rajgir, a Buddhist tourism destination, in Bihar's Nalanda district. Chief Minister Nitish Kumar has said that the lake at Ghorakatora, which is surrounded by hills from three sides, will be de-silted. There will be provisions for adventure sports like para-sailing and para-gliding for tourists, he said.
“Shuddh Ke Liye Yuddh” (war for purity) campaign success applauded inRajasthan “Shuddh Ke Liye Yuddh” (war for purity) campaign launched across the State recently had turned out to be a big success, while monitoring of fair price shops had beenimproved to ensure regular supply of essential items to consumers. A stringent new law to check adulteration would be enacted shortly in the State and criminal cases would “invariably [be] registered” against owners of shops and establishments where adulterated material is confiscated.
‘If Section 498-A is diluted, police won't act on dowry complaint' The All India Democratic Women's Association (AIDWA) has opposed the proposed dilution of dowryrelated Section 498-A of the Indian Penal Code. In a memorandum to the Rajya Sabha Petitions Committee, the AIDWA has expressed shock and distress over the proposal demanding that offences under Section 498-A be made non-cognisable, bailable andcompoundable. This Section recognises that acute domestic violence and dowry-related torture are a serious offence, and prescribes a jail punishment of up to three years, the AIDWA has pointed out.
GSLV fails, erupts into ball of flame The launch of the Geo-Synchronous Satellite Launch Vehicle (GSLV-F06) ended in a failure, with the vehicle losing control 47 seconds after its flight, breaking up into pieces and erupting into a ball of flame. As the vehicle veered off thesafety corridor and the flaming debris could have fallen on the residential areas around Sriharikota, Range Safety Officer (RSO) V.K. Srivastava pressed the “destruct” button and the explosives around the vehicle ignited and destroyed it.
ADB : Delhi India’s No. 1 investment destination .Delhi has emerged as the most attractive city in the country for both foreign and domestic investors, according to the latestAsian Development Bank report on a survey of Indian cities. Greater Mumbai and Chennai follow Delhi closely as good metropolitan areas for investment
GSPC finds 'huge reservoir of gas' in Ankleshwar Gujarat State Petroleum Corporation (GSPC) has discovered a "huge reservoir of gas" in an onland exploration block in Ankleshwar, Gujarat. "The discovery of a huge reservoir of gas at the Ankleshwar 41-S well... could potentially open a new zone for exploration for us there," a top GSPC official said.
China gives green light to first ‘Made in China' Bollywood film The Chinesegovernment's official film production company has given its backing to the country's firstever home-made “Bollywood” film production, a $ 10-million project that will be set in China and India and is looking to rope in some of India's biggest stars. While State-run filmcompanies in China have recently begun investing in Hollywood productions, this will marktheir first entry into Bollywood. Indian films are widely popular in China, but are accessibleonly through the pirated DVD market, with censorship restrictions limiting imports.
Swaminathan conferred CNN-IBN Lifetime Achievement Award Veteran agriculturalscientist M. S. Swaminathan has been conferred the CNN-IBN Indian of the Year 2010 Lifetime Achievement Award for his “outstanding leadership in the field of agriculture thathas contributed to ensuring food security for millions of Indians”.
Caste discrimination in U.K.: report Britain could soon become the first western country to declare caste discrimination unlawful by recognising it as a form of racial prejudice if thegovernment accepts the recommendations of a study it commissioned to help it take adecision. In its long-awaited report, the National Institute of Economic and Social Research, a respected independent research body, found “evidence'' of significant “discrimination andharassment'' faced by Britian's nearly 200,000-strong Dalit community.
Scheme to develop new cashew farms The Directorate of Cashewnut and Cocoa Development, under the Ministry of Agriculture, is undertaking a programme to develop new plantations with clones of high yielding varieties of cashew. It is part of schemes forachieving integration and coordination of cashew development in association with development agencies in different States and research institutes. Under the planting drive, farmers will be assisted as per the National Horticulture Mission guidelines. Monetaryassistance will be allotted in instalments to the beneficiary, subject to the survival of the plants during a three-year period.
Sanjeev Tripathi to be new RAW chief Sanjeev Tripathi, currently number two inthe Research and Analysis Wing (RAW), will take charge as the new chief of the India's external intelligence agency on or before December 30 on two-year term. Tripathi's nameto head the RAW was cleared after the incumbent K C Verma offered to quit almost a month ahead of his term which was to end on January 31, 2011. The move is seen as an attempt to accommodate Tripathi — who was to retire on December 31 — as the new RAWsecretary.
First women-only call centre opens in Saudi Arabia Saudi women, who are prohibitedby society from living or working independently without written permission from a male guardian, will now be part of a first-of-its-kind "women-only" call centre in the country. Kanoo Travel, one of the leading travel management companies in the Middle East, said 20female employees have undergone telephone operation training as the company started a"ladies-only" call centre.
Bill to protect fisherfolk's traditional rights on anvil he Fisherfolks Rights Bill, guaranteeing traditional marine rights, is on the anvil, Union Minister for Environment and Forests Jairam Ramesh said. Conceived on the lines of the Forest Rights Act that guarantees traditional user rights and land rights to tribals, Adivasis and forest dwellers, this Bill would provide security of dwelling and habitation, apart from marine resources, to the 70-lakh fisherfolk living along the coastal areas. The draft text was posted on the Ministry's website and the Ministry was open to suggestions
NSC discusses plans to beef up cyber security isturbed over repeated cyber attacks where security gets compromised, the National Security Council under the chairmanship of the Prime Minister had a meeting and deliberated on various plans to beef up cyber security. During the meeting, the present level of preparedness to deal with cyber security issues and a future plan of action was discussed by the NSC. A paper has also been brought out by the NSC Secretariat highlighting several outstanding issues like identification of critical information infrastructure, delineation of responsibilities, dissemination of early warning and incidence response, the sources said.
With South Africa in, it will be BRICS The BRIC (Brazil, Russia, India and China) grouping will become BRICS with the inclusion of South Africa, according to sources in the government. The third BRIC summit in China in 2011 will see South African President Jacob Zuma present as an observer. Membership of the soon-to-be five nation grouping will then be frozen for some time. This means that aspirants for membership like Egypt and Indonesia will have to wait till the BRICS stabilises.
N-plants: India, Russia to counter China in South Asia India and Russia have decided to work together in the field of nuclear commerce. The two countries will help set up smaller nuclear power plants in South Asian countries such as Bangladesh and Sri Lanka. This is a key outcome of Russian President Dmitry Medvedev’s visit to India. China is active in most South Asian countries, building infrastructure in a big way, and hence, the India-Russia joint initiative will be an attempt to counter that as well.
China to set up ovum bank to address women infertility issues China is setting up its first ovum bank to help women postpone pregnancy at a time when infertility is increasing due to high work pressure, stress and changing lifestyle habits. The bank, to be set up at Shanghai in three years, would also help women suffering from cancer to preserve their ovums before they undergo chemotherapy or surgery, which could damage their reproductive ability. After having their healthy ovums frozen and stored, these women may have a chance to have babies in future.
Mental illness can be included under ‘disability' Mental illness or retardation can be brought within the term ‘disability' under sections of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act 1995 (PWD Act), the Madras High Court has said. Directing a State government department to pay full salary, including annual increment and other monetary and service benefits, to an employee who was relieved from service on the ground of mental disability, Justice K. Chandru said the benefits should be given from the date of disability till the date of his retirement.
RBI cuts SLR for regional rural banks to 24% The Reserve Bank announced reduction of Statutory Liquidity Ratio (SLR), requirement for lenders to keep a portion of deposits in government securities, cash and gold, by one percentage point to 24 per cent for regional rural banks (RRBs). This is in line with the similar cut announced in the monetary review for banks earlier this month as part of its measure to bring more liquidity into the system. The new requirement for the RRBs is effective from December 18
Indonesian President to be chief guest at R-Day parade Sixty years after India invited Indonesian President Sukarno as the chief guest at the first Republic Day parade in 1950, New Delhi will start the new year on a “look-east” note as it rolls out the red carpet for Indonesian President Susilo Bambang Yudhoyono at the Republic Day parade where he will be the chief guest. The honour of being the chief guest is accorded by the government to countries with whom New Delhi wants to have a special relationship. With bilateral trade with Indonesia crossing the target of $10 billion mark a year ahead of schedule, New Delhi has been prompted to start negotiations for an all-encompassing pact — the Comprehensive Economic Cooperation Agreement (CECA) when the Indonesian President visits India next month.
Bihar dials mobile tech to track road-building Upwardly mobile Bihar is now set to become the first state in the country to use the latest cellphones for centralised monitoring of road construction. Come January 10, Bihar State Road Development Corporation (BSRDC), under the Road Construction Department (RCD), will deploy Android phones to help executive engineers keep an eye on road construction from district headquarters, while the RCD Secretary will do so from the Patna office.
Mansur Samman to be conferred on Hindustani vocalist Prabha Atre Renowned Hindustani vocalist Prabha Atre will be honoured with Mansur Samman at the three-day music festival. The festival is being organized to celebrate the birth centenary of doyen of Hindustani vocalist, Pandit Mallikarjun Mansur. President of Mallikarjun Mansur National Memorial Trust and DC Darpan Jain said Samman will carry Rs 1 lakh cash and a citation. Two young Hindustani vocalists Kumar Mardur (Dharwad) and Bhuvanesh Konkali (Madhya Pradesh) will be honoured with Mansur Memorial Yuva Award.
200 catches for Dravid Rahul Dravid achieved a rare milestone in his career when he took his 200th catch in Test matches to stay on top of the list in the five-day format of the game. An accomplished slip fielder, Dravid achieved the feat when he brilliantly caught Dale Steyn off Harbhajan Singh, diving in a flash to his left. Dravid now tops the list of most number of catches in Tests. He registered the feat in his 149th match. Former Australia opener Mark Waugh is at the second spot with 181 catches from 128 Tests, followed by Australia skipper Ricky Ponting (174), former New Zealand captain Stephen Fleming (171) and West Indian batting great Brian Lara (164).
Single green impact report must for all captive units The Environment Ministry has made it mandatory for industrial houses putting up large projects with more than one component, like a steel plant with a captive mine or a captive port, to prepare a single comprehensive environmental impact assessment (EIA) report to be considered in its entirety. This is done to avoid a situation wherein approval to the main project ties down the hands of the ministry in assessing the associated components of that project in an objective manner. Very often these associated components, like a captive mine or a captive power plant, are presented to the ministry as a fait accompli after the main project has been approved.
New species of fishes found in Indian waters The presence of a shark species new to science and 84 other deep-sea dwellers new to the Indian waters have been brought out by a stock assessment of deep sea fishes of the Indian Exclusive Economic Zone and the central Indian Ocean, according to researchers. Mustelus manglorensis, a new gummy shark species, was discovered from a depth of 500 metres off the Mangalore coast. According to researchers, this is the second gummy shark that has been reported from the Indian Ocean against the 19 known worldwide.
Centre proposes sanctuary for Chambal gharials The Central Government has decided to establish a Gharial Protection Authority for taking care of the endangered gharials in Chambal river, which stretches through the boundaries of Madhya Pradesh, Uttar Pradesh and Rajasthan. The Centre has also announced for establishing a sanctuary for gharials, which would be spread over an area of 1,600 sq km. The proposed sanctuary is aimed at protecting the species from extinction. The MoEF has approved the proposal and has allotted Rs 8 crore for this project. According to MoEF figures, at present, there were only 200 breeding adult gharials and their total population in the wild would be around 1,400.
U.S.-Russia row over Khodorkovsky A strident exchange of official statements between the United States and Russia has followed in the wake of the guilty verdict for Mikhail Khodorkovsky, Russian businessman convicted of embezzling billions of dollars worth of oil money. Mr. Khodorkovsky and his business partner Platon Lebedev were found guilty of siphoning and then laundering money from their oil company Yukos.
NHB acts to prevent housing loan defaults To prevent default in home loans, housing finance regulator NHB has asked the lenders to provide loans up to only 80 per cent of the value of property in case individual borrowers seek more than `20 lakh of loans. Standardising norms for housing loans, the National Housing Bank, however permitted the housing finance companies to give loans up to 90 per cent of property value for loans up to `20 lakh. “No housing finance company shall grant housing loans up to `20 lakh to individuals with loan-tovalue (LTV) ratio exceeding 90 per cent and grant all other housing loans above `20 lakh to individuals with LTV ratio exceeding 80 per cent,” the NHB said in a circular issued to housing lenders.
Additional foodgrain for BPL, APL families The Empowered Group of Ministers (EGoM) on Food Security headed by Finance Minister Pranab Mukherjee decided to offload 25 lakh tonnes of foodgrain to below poverty line (BPL) families through the public distribution system (PDS). The EGoM also decided to allocate similar quantity of foodgrain to states for distribution among above poverty line (APL) families.
RBI allows OTC forex derivatives from February After a long wait and two draft proposals, the Reserve Bank of India has finally unveiled the guidelines on over-the-counter (OTC) foreign exchange derivatives, overseas hedging of commodity price and freight risks. These final guidelines, with effect from February 1, 2011, will be applicable with certain changes permission for cost-reduction structure. Earlier, the draft guidelines proposed to withdraw the facility of cost reduction structures and permit the clients/ customers to write covered call and put options and thereby receive premium in both foreign currency-rupee options as well as cross currency options.
On U.S. request, India shuts payment route for Iran oil imports In a move that is being seen worldwide as an example of India succumbing to American pressure, the Reserve Bank of India has barred companies from using the Asian Clearing Union (ACU) to process current account transactions for oil and gas imports — a decision that directly hits at Indian energy imports from Iran. With American and European clearing houses unwilling to process payments involving the Iranian hydrocarbon sector, an urgent solution will now have to be found for the $11 billion worth of oil India imports annually from the Islamic Republic.
Assocham for reducing corporate tax The Associated Chambers of Commerce and Industry of India (Assocham) asked the Finance Ministry to reduce corporate tax to 25 per cent from the existing rate of 30 per cent so that the industry is left with more money to make bigticket investments.
RBI to banks The Reserve Bank directed banks to close the public provident fund (PPF) accounts of Hindu undivided families (HUFs) which have completed 15 years and refund the money by March 2011. The directive to the banks follow a notification by the finance ministry that said that all PPF accounts opened by HUFs which have completed 15 years should be closed. The HUFs henceforth will not be allowed keep their accounts functional for the extended period of five years after completion of 15 years.
Jaitapur N-plant site susceptible to earthquakes: Report An impact assessment report by Tata Institute of Social Sciences (TISS) has come down heavily on the proposed nuclear power plant at Jaitapur in Ratnagiri district, stating that the project will have a “huge negative impact on social and environment development” as it is sitting on a high to moderate severity earthquake zone. However, project developer Nuclear Power Corporation of India (NPCIL) has claimed that the site selection for the power plant was done keeping in mind the safety aspects and there was not “any active geological fault within 5-km radius from the proposed site”. The TISS findings also suggested that the government subverted facts and called the fertile agricultural land as “barren”.
Krishna Tribunal grants highest share of waters to A.P. The Krishna Water Disputes Tribunal-II allocated the highest share of Krishna river waters to Andhra Pradesh but distributed the surplus waters, which was hitherto flowing into the State. The shares of other basin States — Karnataka and Maharashtra — were also raised. The three-member tribunal, headed by Justice Brijesh Kumar, permitted Karnataka to raise the storage level in the Almatti dam to 524.256 metres from 519.6 metres, a measure seen by Andhra Pradesh as depriving its lower Krishna delta region of water supply. The tribunal, however, directed Karnataka to make regulated releases of 8 to 10 thousand million cubic feet (tmcft) from the dam to Andhra Pradesh in June and July. The tribunal asked the Centre to set up a ‘Krishna Water DecisionImplementation Board’ with representation from all the three States.
Coins below 50 paise will lose currency from June 30 Come June 30, 2011, 50 paise will be the minimum coin accepted in the markets as all denominations below it will cease to be legal currency, the Finance Ministry said. The entries in books of accounts, pricing of products, services and taxes should be rounded off to 50 paise or whole rupee from that date. “The procedure for call in shall be notified separately by the Reserve Bank of India.”
Srikrishna Committee submits Telangana statehood report The 5-member Justice Srikrishna Committee submitted its report on the separate Telangana state demand to Home Minister P Chidambaram, who said government will consult all political parties before taking an “appropriate” decision on the issue. The two-volume report, prepared by the Committee after extensive discussions with political parties and other organisations in the state over the past 11 months, was submitted a day before the Committee’s term was to expire.
Visa-on-arrival facility for 4 Asean countries The government extended the visa-onarrival (VOA) facility to four Asean countries, including Laos, Vietnam, the Philippines and Cambodia. The VOA facility will be applicable from January 1, 2011. It will allow travellers single entry facility with a validity of 30 days. Initially, it will be introduced at Delhi, Mumbai, Chennai and Kolkata airports.
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