Finance/Business/Economy News
1. ICCI Bank launched
Contactless credit and Debit cards
Contactless credit and Debit cards
- ICICI Bank on 7 January 2015 launched contactless credit
cards and debits cards called Coral Contactless Credit Card and Expressions
Wave Debit Card respectively. - These cards will enable customers to make electronic
payments by waving the cards near a merchant terminal instead of dipping or
swiping the cards. - These cards are powered by MasterCard contactless and
Visa payWave technologies. - These cards are based on the near-field communication
technology that provides customers improved speed to complete a transaction and
enhanced security. - The key advantage of these two cards is speed and
security. The speed of transactions will add momentum to high value payments
and the level of security is higher since the card doesn’t leave the customer
during the transaction process.
2. Avijit Ghosh took
over the charge of CMD of Heavy Engineering Corporation
over the charge of CMD of Heavy Engineering Corporation
- Avijit Ghosh on 1 January 2015 took over the charge of
Chairman-cum-Managing Director (CMD) of Heavy Engineering Corporation (HEC). He
is the 21st CMD of HEC which is a Public Sector Undertaking (PSU). - He succeeded R. Misra whose tenure of three year ended on
31 December 2014. - His appointment was confirmed by the Public Enterprises
Selection Board (PESB) under the Union Ministry of Personnel, Public Grievances
and Pensions. The board had recommended his name on 26 June 2014. - Prior to this, he was serving as the Director (Mining) of
Hindustan Copper Limited. - He also served as the Assistant Vice-President of Jindal
Steel and Power Limited and was posted in Ranchi before he joined Hindustan
Copper Limited as its Director (mining) in 2010.
3. Tencent Holdings
Limited launched China’s first online bank WeBank
Limited launched China’s first online bank WeBank
- Chinese Internet giant Tencent Holdings Limited on 6
January 2015 launched China’s first online bank named WeBank to boost small
businesses. - The online bank aims at lowering costs for delivering
practical benefits to small businesses, while forcing traditional financial
institutions to accelerate reforms. - WeBank’s first loan amounting to about 5600 US dollars
was availed by a truck driver at the bank’s opening ceremony. - Tencent and Alibaba were among ten private investors that
received a nod from the Chinese government in 2014 to launch five private
banks.
4. Facebook Inc
acquired voice recognition startup company Wit.ai
acquired voice recognition startup company Wit.ai
- Facebook Inc on 5 January 2015 acquired startup company
Wit.ai in an attempt to develop voice recognition. However, the details of
acquisition were not disclosed by the firms. - The Wit.ai platform will remain open and will be
available entirely free for everyone even after the acquisition. - Through this acquisition, Facebook aims to connect
everyone and build amazing experiences for the over 1.3 billion people on its
platform.
5. Praj Industries
bagged contract from Kakira Sugars to build largest ethanol plant of Uganda
bagged contract from Kakira Sugars to build largest ethanol plant of Uganda
- Praj industries, a global process solution company on 7
January 2015 bagged an order from Uganda’s Kakira Sugars, to build an ethanol
plant with a capacity of 60000 litres per day. The plant will process cane
molasses from the Kakira Sugar Mill. - The ethanol plant will also produce premium grade extra
neutral alcohol (Beverage Alcohol) by employing ECOSMART technology. Besides,
the bio-compost from the plant will be used as manure to increase soil
fertility making it one of sustainable distilleries. - Under the contract, Praj industries will provide key
technologies for fermentation, distillation, waste water treatment including
bio-methanation followed by bio-composting.
6. IL&FS plans to
set up 6,000 MW power plants in Kutch
set up 6,000 MW power plants in Kutch
- Infrastructure Leasing and Financial Services Ltd
(IL&FS) is set to invest about Rs. 35,000 crore for setting up 6,000
megawatt (MW) of power generation capacities in Kutch – Gujarat, the company
said. - IL&FS Group has already laid out plans for a
multi-product Special Economic Zone at Kutch and two power generation
facilities combining 6,000 MW capacities in the SEZ. - The company has already signed the agreements with the
Gujarat Maritime Board, Government of Gujarat for the development of the
Shipyard, Captive Jetties and LNG Terminal at Nana Layja and also for the
development of SEZ and Free Trade and Warehousing Zone (FTWZ). - IL&FS Group company, IL&FS Maritime
Infrastructure Company Ltd (IMICL) is undertaking the day-to-day project
development activities for an Integrated Maritime Complex comprising a Shipyard
and a multi-product SEZ at Nana Layja where IL&FS is the co-developer,
company’s web site says. - The Project site is located at the mouth of Gulf of Kutch
and is 95 km from Kandla Port and 65 km from Bhuj.
7. Quikr launched instant
messenger Quikr Nxt to enable seamless transactions
messenger Quikr Nxt to enable seamless transactions
- Online Classifieds Company Quikr on 7 January 2015
launched instant messenger Quikr Nxt to enable seamless transactions between
its users. The product was launched by Quikr CEO and founder Pranay Chulet. - The messenger will allow users to chat using the website
or mobile app. The messenger has been integrated into Quikr’s mobile app,
mobile site and website. - The company claimed the new product is the world’s first
instant messenger by a classifieds company. - With the Quikr Nxt, buyers/sellers do not need to share
their contact number or e-mail address and the only point of reference is the
Quikr ID. This prevents bombarding by multiple e-mails and phone calls and
safeguards the user’s privacy.
News Related to India and Indian Polity
8. Subramanium
committee recommended single window system for environment projects
committee recommended single window system for environment projects
- High-level committee (HLC) headed by former Cabinet
Secretary T S R Subramanium was in news in first week of January 2015. The four
member high-level committee (HLC) was appointed by the Union Ministry of
Environment and Forests (MoEF) and Climate Change (CC) to review environmental
laws. - In its recommendation, the committee suggested single
window clearance mechanism for green nods.
9. Raosaheb Patil
Danve appointed as the Maharashtra BJP President
Danve appointed as the Maharashtra BJP President
- Raosaheb Patil Danve, was appointed as the Bharatiya
Janata Party (BJP) President of Maharashtra on 6 January 2015. He is the Union
Minister of State for Consumer Affairs, Food and Public Distribution in
Narendra Modi-led NDA government. - He was appointed as the Party President for the
Maharashtra Unit by BJP’s National President Amit Shah. - 59-year-old, Danve succeeded Devendra Fadnavis who at
present is serving Maharashtra as its Chief Minister. Earlier, he had served
the party as vice-president in Maharashtra.
10. President signed
Ordinance to amend Citizenship Act, 1955
Ordinance to amend Citizenship Act, 1955
- President Pranab Mukherjee on 6 January 2015 signed the
Ordinance that amends’ Citizenship Act, 1955. The ordinance provides life-long
Indian visa facility to Person of Indian Origin (PIO) and exempts them from
appearing before the local police station on every visit. - Earlier, Union Cabinet headed by Prime Minister had
approved the promulgation of ordinance to amend the Act. The ordinance was
promulgated after the Citizenship (Amendment) Bill, 2014 was not passed in
either House of Parliament during the winter session of Parliament in December
2014. It was introduced in Lok Sabha on 23 December 2014.
Main Provisions of the
Ordinance
Ordinance
- It merges Overseas Citizen of India (OCI) and Persons of
Indian Origin (PIO), thus making PIO eligible for life-long visa and bringing
them on equal footing with OCI. - It relaxes the requirement of 12 months in cases related
to citizenship by registration and naturalization. Instead it allows for breaks
up to 30 days if the Union government is satisfied that special circumstances
exist, and has recorded them in writing.
11. AMCA: India’s own
fifth generation fighter aircraft
fifth generation fighter aircraft
- AMCA was in news in the first week of January 2015. It
was revealed by the sources from Defence Ministry that the preliminary design
stage of the futuristic fighter aircraft is over and the development work on
the project is expected to start in 2015. - The main purpose of the AMCA is to replace the aging
SEPECAT Jaguar & Dassault Mirage 2000. - The seed for developing the indigenous fifth generation
fighter aircraft (FGFA) was sowed in 2008 but its finalised form was unveiled
during Aero India 2013. - The aircraft will be developed by Hindustan Aeronautics
Limited (HAL) in collaboration with Indian Air Force (IAF), Defence Research
and Development Organisation (DRDO) and Aeronautical Development Agency (ADA). - The amount required for the initial design and
development phase is 4000 crore rupees and the initial design of AMCA is
expected to be ready by 2018. The first flight of the AMCA though will only be
possible by 2025.
12. Union Government
launched National Toll Free Helpline to assist the drug dependent persons
launched National Toll Free Helpline to assist the drug dependent persons
- Union Ministry for Social Justice & Empowerment on 7
January 2015 launched National Toll Free Helpline (1XXX-XX-0031) to assist the
alcoholic and drug dependent persons. The helpline was launched by the Union
Minister for Social Justice & Empowerment Thaawar Chand Gehlot.
Main characteristics
of the Helpline
of the Helpline
- It has been made with technical support
from M/s TCIL, a Government of India undertaking. - It will operate from 9.30 a.m. to 6.00
p.m. from Monday to Saturday and will be upgraded to 24×7, based onthe number of calls and the
response in this regard. - It will help in order to mitigate the
problems of drug abuse and create public awareness. - The helpline was launched after the
Prime Minister Narendra Modi in the National programme Mann ki Baat on 14 December 2014
show his desire of setting up of a Toll Free Helpline to assist the alcoholic
and drug dependent persons, their family members and community at large. - The Ministry of
Social Justice and Empowerment is the nodal Ministry for drug demand reduction
and rehabilitation of victims of alcoholism and drug abuse.
13. Amitabh Bachchan
named as the Brand Ambassador of AP health sector
named as the Brand Ambassador of AP health sector
- Bollywood actor Amitabh Bachchan on 6 January 2015 named
as the Brand Ambassador of Andhra
Pradesh (AP) health sector. His appointment was announced by the AP Health
Minister Kamineni Srinivas in Hyderabad. - Being the brand ambassador of AP health sector, he will
be participating in various health-related campaigns of AP government. However,
Bachchan will not take any remuneration for the services he would be rendering
to the state as its health ambassador.
14. Prime Minister
released commemorative coin to mark 175th birth anniversary of Jamsetji Tata
released commemorative coin to mark 175th birth anniversary of Jamsetji Tata
- Prime Minister Narendra Modi on 6 January 2015 released a
commemorative coin to mark the 175th birth anniversary of Tata group founder
Jamsetji Nusserwanji Tata. - The reverse face of the coin bears the image of Jamsetji
Nusserwanji Tata in the centre, with the inscription 175 वा जन्मदिवस in
Devnagri script. - With this, he became the first industrialist to be
felicitated by a commemorative coin. - PM launched the coin in the presence of Minister of State
(Finance) Jayant Sinha and Tata Sons Chairman Cyrus Mistry.
15. 102nd Indian
Science Congress held in Mumbai
Science Congress held in Mumbai
- The 102nd Indian Science Congress (ISC) was held from 3
January to 7 January 2015 in Mumbai. The theme of the ISC was Science and
Technology for Human Development. - The 102 ISC was inaugurated by the Prime Minister
Narendra Modi. The ISC was organized by the Indian Science Congress Association
(ISCA) in association with University of Mumbai. - Nobel Laureates, eminent scientists, technology experts
and research students from India and abroad were participated the Indian
Science Congress. - Ancient sciences through Sanskrit, Ancient Indian
aviation technology, Biodiversity conservation, Space application, clean energy
systems and other topics were discussed. Science and Technology in SAARC
Countries and issue of Genetically Modified (GM) crops in India were also
discussed. - Besides, Children’s Science Congress, Women’s Science
Congress and Science Exhibition were also organised. The Children’s Science
Congress was inaugurated by the former President APJ Abdul Kalam.
16. Dinesh Oraon of
BJP unanimously elected Speaker of Jharkhand Legislative Assembly
BJP unanimously elected Speaker of Jharkhand Legislative Assembly
- Dr. Dinesh Oraon of Bharatiya Janata Party was elected as
the Speaker of Jharkhand Legislative Assembly on 7 January 2015. Protem Speaker
Stephen Marandi announced Oraon’s election as unanimous. - His name for the post was proposed by the Chief Minister
Raghubar Das and seconded by the Social Welfare Minister Louis Marandi. - He is the 10th Speaker of the Jharkhand Legislative
Assembly since the State came into being on 15 November 2000.
International News
17. French satirical
weekly Charlie Hebdo’s Paris office attacked by terrorists
weekly Charlie Hebdo’s Paris office attacked by terrorists
- The French satirical weekly magazine Charlie Hebdo’s
Paris office was attacked by three masked gunmen on 7 January 2015. At least 12
persons were killed in the attack. - The killed persons include Editor-in-Chief Stephane
Charbonnie (known as Charb) and cartoonists Jean ‘Cabu’ Cabut (known as Cabu), Tignous
and Wolinski, as well as Charlie Hebdo contributor and French economist Bernard
Maris. - This was the deadliest terror attack of France since
1961, when right-wingers bombed a train, killing 28 people. - The organization was attacked for its satire edition of
2011 in which it listed the Prophet Mohammed as editor-in-chief and featured
cartoons. In retaliation, the office was burned in firebombing in November 2011
and its website was hacked. - Charlie Hebdo was a target of Islamist extremists since
2006, when they published cartoons of the Prophet Mohammed, the holiest figure
of Islam. - Charlie Hebdo, a weekly French satirical news magazine
that is being published since 1970 (had break between 1981 and 1992) is mainly
known for its controversial provocative cartoons and caricatures. In past, its
articles have targeted the extreme right, Catholicism, Islam, Judaism,
politics, culture and others. The magazine has also targeted former Pope
Benedict XVI and Orthodox Jews. - In 2012, editor of the magazine, Stephane Charbonnier
described the newspaper as left-wing, secular and atheist and pushed free
speech limits until his death due to his believe in freedom of expression in
France.
18. Atul Khare
appointed as the UN Under-Secretary-General
appointed as the UN Under-Secretary-General
- Atul Khare was on 7 January 2015 appointed as the United
Nations (UN) Under-Secretary-General, Department of Field Support (DFS). He
will succeed Ameerah Haq of Bangladesh. - His appointed was announced by United Nations
Secretary-General Ban Ki-moon. Khare is currently providing charitable medical
advice in India. - Khare joined the Indian Foreign Service in 1984 and has
served Indian diplomatic missions in France, Mauritius, Senegal, Thailand and
the United Kingdom. - Khare has been serving the UN since years, most recently
as Assistant Secretary-General leading the Change Management Team in 2011-2012. - He was the UN Assistant Secretary-General for
Peacekeeping Operations and Deputy Head of the Department of Peacekeeping
Operations in New York from 2010 to 2011.
19. Australian airline
Qantas named world’s safest by AirlineRatings.com
Qantas named world’s safest by AirlineRatings.com
- Australia’s national airline Qantas was named as the
world’s safest airline by AirlineRatings.com on 6 January 2015. The airline was
lauded for amassing an extraordinary record of firsts in safety history and
operations over its 94-year history. - Qantas was praised for the way it monitors the engines of
its aircraft using satellite communications and had a fatality free record in
the jet era. - The website said that the Australian airline Qantas has
been a leader in development of the Future Air Navigation System, Flight Data
Recorder to monitor plane and later crew performance, automatic landings using
Global Navigation Satellite System as well as precision approaches around
mountains in cloud using RNP. - The website announced its top ten safest airlines and top
ten safest low cost airlines for 2015 from 449 it monitors.
Top ten safest
airlines include
airlines include
- Qantas of Australia
- Air New Zealand of New Zealand
- British Airways of the UK
- Cathay Pacific Airways of Hong Kong
- Emirates of UAE
- Etihad Airways of UAE
- EVA Air of Taiwan
- Finnair of Finland
- Lufthansa of Germany
- Singapore Airlines of Singapore
20. Scientists
discovered two Earth-like planets Kepler 438b and Kepler 442b
discovered two Earth-like planets Kepler 438b and Kepler 442b
- The Scientists at the Harvard-Smithsonian Centre for
Astrophysics have discovered two Earth-like planets Kepler 438b and Kepler
442b. The findings of the discovery were published in The Astrophysical Journal
on 5 January 2015. - The planets were spotted by Nasa’s Kepler space telescope
which detects planets as they move across the faces of their stars. Kepler
collected the data for four years. - The Harvard-Smithsonian team led by Guillermo Torres used
a computer program called Blender to confirm that the planets were real.
Sports News
21. Russian Popov Ivan
won 7th Chennai International Open Grandmaster Chess title
won 7th Chennai International Open Grandmaster Chess title
- Popov Ivan of Russia on 6 January 2015 won 7th Chennai
International Open Grandmaster Chess title. He clinched the title via super
tie-breaker after eight players ended with 7.5 points each. - The winner Popov Ivan was awarded the cash purse of two
lakhs rupees, while Runner-up Dzhumaev Marat of Uzbek GM got one lakh fifty
thousand rupees and third placed GM Mozharov Mikhail of Russia secured a cash
award of one lakh fifteen thousand rupees. - For the first time in the history of Chennai Open, there
was an eight way tie and it was resolved on quotient. - Among others, who shared the top spot were Dzhumaev Marat
(Uzbekistan), Mozharov Mikhail (Russia), Ramnath Bhuvanesh R, Swapnil S
Dhopade, Ravichandran Siddharth (all Indians), Gasanov Eldar (Ukraine), Nguyen
Duc Hoa (Vietnam). - Also, Chennai Open saw granting of Grandmaster norms to
Ramnath Bhuvanesh & Swapnil S Dhopade and International Master Norm on
Rakesh Kumar Jena. Pratyusha Bodda was granted the Woman International Master
Norm.
22. India to host
World Bridge Championships 2015
World Bridge Championships 2015
- India will host the 42nd World Bridge Championships that
will be held in Chennai from 26 September 2015 to 10 October 2015. The
information was announced by Bridge Federation of India (BFI) president N R
Kirubakaramoorthy on 7 January 2015. - It is for the first time that World Bridge Championships
are being held in Asia. This year, 660 players from 66 teams representing over
40 countries will take part in the 15-day long event. - India comes under Asia and Middle East zone which is
consist of 14 countries. This zone has two qualifiers for the World Bridge
Championships. As India has got the direct entry, only one qualifying slot is left
from this zone.
23. ICC announced
Associate & Affiliate panel of umpires for the year 2015
Associate & Affiliate panel of umpires for the year 2015
- 11-member ICC Associate and Affiliate panel of
international umpires for the year 2015 was announced by the International
Cricket Council (ICC) on 7 January 2015. - The panel was named by the Associate and Affiliate
selection committee comprising of senior umpire and referees manager Vince Van
Der Bijl, ICC umpire and referees administration manager Adrian Griffith, ICC
regional match referee David Jukes and ICC development events manager Edward
Fitzgibbon.
Members in the panel
includes
includes
- Allan Haggo of Scotland
- Sameer Bandekar of India
- Kathy Cross of New Zealand
- Mark Hawthorne of Ireland
- Wynand Louw of Namibia
- Nigel Morrison of Vanuatu
- David Odhiambo of Kenya
- Buddhi Pradhan of Nepal
- Sarika Siva Prasad of India
- Ian Ramage of Scotland
- Courtney Young of Cayman Islands
Allan Haggo of Scotland who is the new joinee of the
panel officiated at the ICC World Cricket League Division 4 in Singapore 2014.
panel officiated at the ICC World Cricket League Division 4 in Singapore 2014.
On the other hand, Richard Smith, the umpire of Ireland
stepped down from the panel. He officiated during ICC U19 Cricket World Cup in
Australia in 2012 and joined the panel in 2011.
stepped down from the panel. He officiated during ICC U19 Cricket World Cup in
Australia in 2012 and joined the panel in 2011.
24. Kohli becomes
second Indian to score 500 in a Test series in Australia
second Indian to score 500 in a Test series in Australia
- Virat Kohli on Thursday became the second Indian batsman
to score 500 runs in a Test series in Australia during the fourth and final
match at the Sydney Cricket Ground. - Kohli, who came into the match with 499 runs from the
three earlier matches of the series, reached the landmark by hitting a four of
the bowling of off-spinner Nathan Lyon during the morning session in the 44th
over of India’s first innings. - The 26-year-old Kohli, who was playing in his 33rd Test
and seventh innings in this series, followed in the footsteps of batting legend
Rahul Dravid who accumulated 619 runs from eight innings in the 2003—04
Australia tour. - Kohli has already hit three centuries in the series.