1. ADB to provide $300 mn loan to Chhattisgarh for overhauling roads
ADB to provide $300 mn loan to Chhattisgarh for overhauling roads by the ADB said, the project would include works such as expanding roads for two-laning, building new sections, construction and strengthening of culverts and bridges. The Chhattisgarh government will provide 128 million Dollars taking the total cost of the project to 428 million Dollars.
NOTE:- Asian Development Bank, ADB, will provide a 300-million US Dollar loan to Chhattisgarh for overhauling over 900 kilometres of roads in the state.
2. Nobel Peace Prize 2012 Awarded to European Union (EU)
Nobel Peace Prize 2012 was awarded to the European Union (EU) leaders on 10 December 2012 at Oslo, Norway. The award was given to the European Union leaders for the efforts in promotion of peace as well as human rights. The award was given despite criticisms from some.
NOTE:- Around 20 European government leaders which included French President Francois Hollande, German Chancellor Angela Merkel as well as the Italian Premier Mario Monti, attended this ceremony in Oslo, the capital city of Norway. It is important to note that Norway, which is a country rich in oil, has rejected joining EU twice.
3. Telecom Commission approves subsidy for BSNL operations in rural areas
Telecom Commission today approved a subsidy of 1500 crore rupees for supporting landline operations of BSNL in the rural areas. The move follows recommendations by the Telecom Regulatory Authority of India (TRAI) that 2,700 crore rupees be given to BSNL as it operates in remote and rural telecom circles that are less profitable.
NOTE:- Commission's Chairman and Telecom Secretary R. Chandrashekhar said the subsidy will be paid out of the Universal Service Obligation Fund without impacting fiscal deficit. The first part of the approved amount is part of the total proposed subsidy of 2,750 crore rupees for supporting rural landline connections installed before April 1, 2002. This will also lower the losses incurred by Bharat Sanchar Nigam Limited.
4. India at third place in latest T-20 ranking
In the latest T-20 ranking released by ICC, India occupy third place with 120 points. Sri Lanka retains the number one position with 127 points followed by West Indies.
NOTE:- Among Indian players, Suresh Raina figures at number 5 among the batsmen while New Zealand’s Brendan McCallum is at number 1. Among the bowlers Pakistan’s Saeed Ajmal leads the pack followed by Dale Steyn.
Shane Watson is the best all rounder in T-20 format. No Indian figures in top 10 list of bowlers and all rounders.
5. Govt ready for probe into alleged Walmart lobbying issue
Union Government has said it is ready for an inquiry into the allegations that Walmart bribed Indian officials and lobbied its entry into India. Sharing the concern of the members, Parliamentary Affairs Minister Kamal Nath informed both the Houses that the government is ready for a discussion on the issue.
NOTE:- Both the Houses of Parliament witnessed frequent adjournments yesterday, the Lok Sabha on the issue of Walmart and the Rajya Sabha on Reservation in promotions for SCs and STs.
6. Bhatinda Srinagar Gas Pipeline Project to be completed by July 2014
Jammu and Kashmir Government informed that the 328-km-long Bhatinda-Jammu-Srinagar gas pipeline project is scheduled to be completed by July 2014 to draw gas from Gujarat to the State.
NOTE:- The progress on the proposed project was reviewed by Chief Minister of Jammu and Kashmir Omar Abdullah at a meeting of high-level officers in Jammu and an early start of work was emphasized by him. He stressed upon the need for fast tracking the project to ensure its timely completion.
7. Union Government Introduced Bill to Amend Competition Act
Union Government of India introduced a bill in Parliament to amend the Competition Act which, among other things, will require the Competition Commission to decide on corporate mergers within 180 days.
NOTE:- The bill would also confer powers on fair trade regulator Competition Commission of India (CCI) to vet all M&A deals and also authorise its Director General to carry out search and seizure activities. Presently, CCI's Director General, upon authorisation by the Chief Metropolitan Magistrate, Delhi, has the powers to carry out search and seizure in any investigation. This is under Section 41(3) of the Competition Act, 2002.
The Bill also seeks to amend the existing provision on abuse of dominant position to provide that no enterprise or group either jointly or singly shall abuse its dominant position.
8. Security and Exchange Board of India (SEBI) allowed 12 more Alternative Investment Funds
Capital Market regulator Security and Exchange Board of India (SEBI) allowed 12 entities to set up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds, in the last two months of October and November 2012.
NOTE:- The 12 Alternative Investment Funds AIFs that were registered with SEBI since October 2010 included India Realty Fund, Dar Mentorcap Film Fund, Capaleph Indian Millennium Small & Medium Enterprises Fund and Capaleph Indian Millennium Private Equity Fund.
9. Reforms improves India's growth prospects in 2013: Moody
A flurry of reforms have improved India's growth prospects in 2013, global rating agency, Moody's said today. Moody's said in a report, that growth prospects have improved with a new finance minister, and a flurry of pro-business reforms designed to lift the economy. It said these moves are working.
10. Indian Economy Would Dominate the Economy of the World by 2030: US Intelligence Community Report
US intelligence community in its report called Global Trends 2030: Alternative Worlds declared that India would straddle international commerce and will also dominate the economy of the whole world by 2030. This would happen with decelerating Chinese economy as well as declining West.
ADB to provide $300 mn loan to Chhattisgarh for overhauling roads by the ADB said, the project would include works such as expanding roads for two-laning, building new sections, construction and strengthening of culverts and bridges. The Chhattisgarh government will provide 128 million Dollars taking the total cost of the project to 428 million Dollars.
NOTE:- Asian Development Bank, ADB, will provide a 300-million US Dollar loan to Chhattisgarh for overhauling over 900 kilometres of roads in the state.
2. Nobel Peace Prize 2012 Awarded to European Union (EU)
Nobel Peace Prize 2012 was awarded to the European Union (EU) leaders on 10 December 2012 at Oslo, Norway. The award was given to the European Union leaders for the efforts in promotion of peace as well as human rights. The award was given despite criticisms from some.
NOTE:- Around 20 European government leaders which included French President Francois Hollande, German Chancellor Angela Merkel as well as the Italian Premier Mario Monti, attended this ceremony in Oslo, the capital city of Norway. It is important to note that Norway, which is a country rich in oil, has rejected joining EU twice.
3. Telecom Commission approves subsidy for BSNL operations in rural areas
Telecom Commission today approved a subsidy of 1500 crore rupees for supporting landline operations of BSNL in the rural areas. The move follows recommendations by the Telecom Regulatory Authority of India (TRAI) that 2,700 crore rupees be given to BSNL as it operates in remote and rural telecom circles that are less profitable.
NOTE:- Commission's Chairman and Telecom Secretary R. Chandrashekhar said the subsidy will be paid out of the Universal Service Obligation Fund without impacting fiscal deficit. The first part of the approved amount is part of the total proposed subsidy of 2,750 crore rupees for supporting rural landline connections installed before April 1, 2002. This will also lower the losses incurred by Bharat Sanchar Nigam Limited.
4. India at third place in latest T-20 ranking
In the latest T-20 ranking released by ICC, India occupy third place with 120 points. Sri Lanka retains the number one position with 127 points followed by West Indies.
NOTE:- Among Indian players, Suresh Raina figures at number 5 among the batsmen while New Zealand’s Brendan McCallum is at number 1. Among the bowlers Pakistan’s Saeed Ajmal leads the pack followed by Dale Steyn.
Shane Watson is the best all rounder in T-20 format. No Indian figures in top 10 list of bowlers and all rounders.
5. Govt ready for probe into alleged Walmart lobbying issue
Union Government has said it is ready for an inquiry into the allegations that Walmart bribed Indian officials and lobbied its entry into India. Sharing the concern of the members, Parliamentary Affairs Minister Kamal Nath informed both the Houses that the government is ready for a discussion on the issue.
NOTE:- Both the Houses of Parliament witnessed frequent adjournments yesterday, the Lok Sabha on the issue of Walmart and the Rajya Sabha on Reservation in promotions for SCs and STs.
6. Bhatinda Srinagar Gas Pipeline Project to be completed by July 2014
Jammu and Kashmir Government informed that the 328-km-long Bhatinda-Jammu-Srinagar gas pipeline project is scheduled to be completed by July 2014 to draw gas from Gujarat to the State.
NOTE:- The progress on the proposed project was reviewed by Chief Minister of Jammu and Kashmir Omar Abdullah at a meeting of high-level officers in Jammu and an early start of work was emphasized by him. He stressed upon the need for fast tracking the project to ensure its timely completion.
7. Union Government Introduced Bill to Amend Competition Act
Union Government of India introduced a bill in Parliament to amend the Competition Act which, among other things, will require the Competition Commission to decide on corporate mergers within 180 days.
NOTE:- The bill would also confer powers on fair trade regulator Competition Commission of India (CCI) to vet all M&A deals and also authorise its Director General to carry out search and seizure activities. Presently, CCI's Director General, upon authorisation by the Chief Metropolitan Magistrate, Delhi, has the powers to carry out search and seizure in any investigation. This is under Section 41(3) of the Competition Act, 2002.
The Bill also seeks to amend the existing provision on abuse of dominant position to provide that no enterprise or group either jointly or singly shall abuse its dominant position.
8. Security and Exchange Board of India (SEBI) allowed 12 more Alternative Investment Funds
Capital Market regulator Security and Exchange Board of India (SEBI) allowed 12 entities to set up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds, in the last two months of October and November 2012.
NOTE:- The 12 Alternative Investment Funds AIFs that were registered with SEBI since October 2010 included India Realty Fund, Dar Mentorcap Film Fund, Capaleph Indian Millennium Small & Medium Enterprises Fund and Capaleph Indian Millennium Private Equity Fund.
9. Reforms improves India's growth prospects in 2013: Moody
A flurry of reforms have improved India's growth prospects in 2013, global rating agency, Moody's said today. Moody's said in a report, that growth prospects have improved with a new finance minister, and a flurry of pro-business reforms designed to lift the economy. It said these moves are working.
10. Indian Economy Would Dominate the Economy of the World by 2030: US Intelligence Community Report
US intelligence community in its report called Global Trends 2030: Alternative Worlds declared that India would straddle international commerce and will also dominate the economy of the whole world by 2030. This would happen with decelerating Chinese economy as well as declining West.
****Either you run the day or the day runs you.*****
----Jim Rohn
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