1. IMF cuts India’s growth forecast to 5.6 percent for FY 2014

ii. This was slightly lower by 0.2 and 0.1 per cent, respectively than the previous forecast released by IMF in its report in April.
ii. The IMF said global growth will recover from slightly above 3 per cent in 2013 to 3.75 per cent in 2014, some 0.25 per cent weaker for both years than the April 2013 projections. - See more at:
iii. The Indian economy recorded a decade-low growth of 5 percent in the fiscal year 2012-13. Although the IMF has pegged India’s growth at 5.6 percent, the finance ministry expects India to exceed 6 percent growth in the current financial year.
iv. It has also predicted that the economic growth rate would be slower in the emerging economies and the Middle East and North Africa or the MENA region
2. Indonesian bank starts operations in Mumbai

ii. Dato Khairussaleh Ramli, BII president, said the Mumbai branch would open up new business opportunities as India is considered one of the fastest growing economies in Asia and the world
iii. "The activation of BII Mumbai is in line with the Group's mission in humanizing financial services across Asia
iv. BII is a subsidiary of the Maybank Group, one of the largest banks in Asian by total assets and market capitalisation with headquarters in Malaysia. BII Mumbai will enhance both BII and Maybank Group’s presence beyond the Asian region.
v. With trade flows between India and the Asean countries already at $79 billion and expected to reach $100 billion by 2015
vi. Mumbai branch will provide a host of trade, foreign exchange and related banking products and services to Indian companies with business interests in the Asean region and vice versa.
vii. Pravin Batra, CEO, BII India Operations, said the bank would emerge as a 'dominant intra-ASEAN Trade Finance Bank'
viii. BII, one of the largest Indonesian banks, has 415 branches, including international presence in Mauritius and now Mumbai.
3. Hazem El-Beblawi new Prime Minister of Egypt

ii. The interim President Adly Mansour also named Mohammad ElBaradei, a Nobel laureate and former IAEA chief as the new Vice-President of the country.
iii. In a gesture of reconciliation, the new designated prime minister of Egypt declared that his government will offer cabinet posts to the leaders of Muslim Brotherhood of the ousted President Mohammed Morsi’s Government.
4. Maestro Zubin Mehta named for Tagore Award for cultural harmony 2013

ii. The Prime Minister Dr Manmohan Singh led High-level Jury has selected Mehta for this award.
iii. The annual award was instituted by the government during the commemoration of 150th Birth Anniversary of Gurudev Rabindranath Tagore.
iv. The first Tagore Award was conferred on Pt. Ravi Shankar, the Indian Sitar Maestro in 2012.
v. The award carries an amount of one crore rupees, a citation in a scroll, a plaque as well as an exquisite traditional handicraft or handloom item.
5. Ireland qualify for 2015 ICC World Cup
i. Ireland qualified for their third successive ICC World Cup after their World Cricket League Championship match against the Netherlands ended in a sensational tie in Amstelveen.
ii. Ireland became the first Affiliate side to qualify for the World Cup after its sixth round ICC World Cricket League Championship match against Netherlands ended in a tie on Tuesday.
iii. Ireland had won the first ODI on Sunday in Amstelveen by 88 runs.
iv. With top two teams in the WCL Championship qualifying for the 2015 World Cup, the result of one win and one tie means that Ireland has reached an unassailable tally of 20 points to open up a five point lead over Netherlands and Scotland.
v. Ireland thus secured its qualification to the ICC's flagship 50-over event, regardless of how the seventh and final round matches of the competition pan out.
vi. The World Cup 2015 will be Ireland's sixth global event, with the side having already competed in the 2007 and 2011 editions, as well as the ICC World Twenty20 in 2009, 2010 and 2012.
6. India and Albania signed an Agreement for Avoidance of Double Taxation
i. The Union Government of India and Government of Albania on 8 July 2013 signed an Agreement for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to the Taxes on Income and on Capital (DTAA).
ii. It would also facilitate mutual economic cooperation between the two countries.
iii. The signed agreement would also stimulate the flow of investment, technology and services between India and Albania.
iv. The agreement incorporates provisions for effective exchange of information between tax authorities of the two countries, which also includes exchange of banking information and supply of information without recourse to domestic interest.
Main Points of Agreement:
i. The Agreement provides for fixed place PE, building site, construction &installation PE, service PE and agency PE.
ii. Dividends, Interest and Royalties & Fees for Technical Services income will be taxed both in the country of residence and in the country of source.
iii. The Agreement also has the provisions for effective exchange of information between tax authorities of the two counties in line with latest international standard. It includes exchange of banking information and supplying of information without recourse to domestic interest.
7. India, Lanka, Maldives sign tripartite maritime security pact
i. India, Sri Lanka and the Maldives have entered into a tripartite agreement on maritime cooperation to secure sea routes in the Indian Ocean region.
ii. National Security Advisor Shivshanker Menon, Lankan Defence Secretary Gotabaya Rajapaksa and Maldives' Minister of Defence Mohamed Nazim signed the agreement on Monday at the end of Meeting on Trilateral Cooperation on Maritime Security.
iii. The agreement was reached by all on the importance of raising the maritime cooperation between the three countries in the current context of maritime security environment in the Indian Ocean region.
iv. "At the conclusion of the meeting an outcome document detailing specific areas of cooperation in the maritime security sphere was signed," said a statement from Sri Lankan Ministry of Defence.
8. India and Iraq signed a Pact to enhance Co-Operation In Energy Sector
i. India and Iraq on 8 July 2013 signed a pact to enhance co-operation in energy security, bilateral trade & commerce, infrastructure and others.
ii. As per the agreement, in energy sector, Iraq will supply more crude oil to India to meet the growing needs of energy in the country.
iii. The agreement was signed between the Union Petroleum Minister Veerappa Moily and his counterpart from Iraq, Abdul Karim Luaibi at the end of the India-Iraq Joint Commission on technical co-operation in Baghdad.
iv. Petroleum Minister M Veerappa Moily is leading a 28-member delegation to Iraq to participate in the 17th India-Iraq Joint Commission meeting in Baghdad.
9. India, Tanzania sign agreements on bilateral cooperation in several sectors
i. India and Tanzania have signed agreements on bilateral cooperation in several sectors including agriculture, health and education, mines and minerals.
ii. The agreements were signed between the Minister of State for External Affairs Mrs Preneet Kaur and the Tanzanian Minister for Foreign Affairs and International Cooperation, Bernard K. Membe at Dar es Salaam yesterday.
iii. During her 3-day visit, Mrs Kaur co-chaired the India - Tanzania Joint Commission Meeting. She also called on Tanzanian President Dr Jakaya M Kikwete, who reviewed the current level of development partnership between the two countries.
iv. The Tanzanian President assured his country's support for India's aspiration for a permanent seat in a reformed United Nations Security Council.
v. India’s economic engagement with Tanzania has also increased to a cumulative of 1546.56 million dollars in 2011 with 305 projects and ranked as the third biggest investor in Tanzania.
10. Abdoulaye Bathily appointed Deputy Head of UN Mission in Mali

ii. Abdoulaye Bathily has been serving as Senior Minister in the office of the President of Senegal since 2012.
iii. With the appointment of Abdoulaye Bathily the UN Secretary-General also appointed David Gressly of the United States as Deputy Special Representative at MINUSMA .
About United Nations Stabilization Mission in Mali (MINUSMA)
i. The United Nations Multidimensional Integrated Stabilization Mission in Mali (MINUSMA) was established by Security Council resolution 2100 of 25 April 2013.
ii. MINUSMA's core task is to support the political process in Mali, in close coordination with the African Union (AU) and the Economic Community of West African States (ECOWAS).
11. Anna Bhagya’ programme launched in Karnataka
i. In Karnataka ‘Anna Bhagya’ programme was launched today.
ii. The programme entitles distribution of 30 kg rice at one rupee per Kg to over 98 lakh BPL and Antyodaya card holders in the state.
iii. The programme will help eliminate hunger and malnutrition and ensure social justice.
iv. The state Government will distribute over two lakh 78 thousand metric tonne of rice with a subsidy of 4400 crore every month.
12. Francisco Garcia Appointed Women Basketball Coach

ii. Garcia has coached various Spanish Federation Youth National Development Camps, in addition to acting as a private development coach for a number of Spain’s senior national women’s players, including three-time WNBA championAmaya Valdermoro.
iii. The BFI worked closely with IMG Reliance, its exclusive long-term partner for development of the sport of basketball in the country, to conduct a thorough search of top-qualified candidates around the world,
13. State Bank Xpress Money Card launched by SBI

ii. The card — State Bank Xpress Money Card — can be loaded with up to Rs 50,000. A maximum of 30 remittances can be loaded during a calendar year.
iii. A depositor will have to visit the UAE Exchange and Financial Services branch to deposit the money.
iv. Prepaid cards are beneficial to customers as there is no need to open a bank account, State Bank of India
v. For now, the card will be available free-of-cost in Kerala. Subsequently, it will be rolled out across the country.
14. Latvia To Join Euro Currency Zone
i. The European Union has officially approved Latvia as the 18th member of the eurozone, which uses the bloc’s common currency.
ii. Latvia will adopt the euro on January 1, 2014.
iii. It was also announced that Latvia’s current currency, the lat, will be converted at a rate of 0.7028 lats per euro.
iv. Now, after following an austerity plan to recovery, the country boasts the EU’s highest growth rate, which came in at more than five percent year-on-year in 2011 and 2012.
v. All EU countries except for Britain and Denmark are mandated to join the eurozone once they fulfil its criteria.
vi. Bulgaria, Croatia, the Czech Republic, Hungary, Lithuania, Poland, Romania and Sweden have yet to adopt the common currency.
15. AK Singh new Lt Governor of Andaman & Nicobar Islands
i. AK Singh, took over as the new Lieutenant Governor of Andaman and Nicobar Islands.
ii. Lt Gen Singh, PVSM, AVSM, SM, VSM, ex-general officer, Commanding-in-Chief, Southern Command, was commissioned into one of the oldest Regiments, the 7th Light Cavalry on the 17th June 1973.
iii. The prior task of AK Singh is to provide security and balanced development, while keeping ecological concerns to the fore, would be his focus area.
16. H.A.B. Parpia, food scientist, passes away

ii. He was the Assistant Director-General of the Council of Scientific and Industrial Research (CSIR) in 1959 and was in charge of Industrial Liaison Office and Extension, Delhi
iii. In 1987, he received Wattumull Foundation Award from Honolulu, Hawaii, USA
iv. Dr. Parpia is now survived by his wife Carolyn Wilkes, two sons and two daughters. After death, his body was donated to Mysore Medical College and Research Institute.
17. Lajja Goswami wins silver in shooting World Cup
i. Indian woman shooter Lajja Goswami has bagged a silver medal in 50 meter riffle three position in I S S F, World Shooting Championship in Spain.
ii. Italy's Petra Jublesing bagged gold in this event.
18. Shiva seals gold at Asian Boxing Ch'ships

ii. The silver medals came through L Devendro Singh (49kg) and Mandeep Jangra (69kg), while the bronze was bagged by Manoj Kumar (64kg).
iii. "Shiva fought an excellent bout. He applied his brain and dominated all three rounds. The decision may have been split but he was clearly the better boxer among the two," national coach Gurbax Singh Sandhu informed.
19. Two Lankan umpires banned for match fixing

ii. After hearing the accused, the Sri Lanka Cricket (SLC) have found their involvemnet into the matter.
iii. Though Dissanayake has escaped punishment but he has been stripped of his seniority.
NOTE: In October last year, an Indian news channel purportedly caught on camera six ICC umpires from Sri Lanka, Pakistan and Bangladesh agreeing to help certain players, fix decisions as well provide pitch and team information predominantly in the Sri Lanka Premier League.
20. Producer Sudhakar Bokade passes away

ii. Bokade was admitted to the Kokilaben Dhirubhai Ambani Hospital in Andheri two days ago due to breathing problems. He passed away last night after a heart attack, his son Krishna said.
iii. Bokade produced films like Salman Khan-Madhuri Dixit-Sanjay Dutt-starrer 'Saajan', Nana Patekar's 'Prahaar', Saif Ali Khan's 'Sanam Teri Kasam' and Ajay Devgn's 'Dhanwaan' among others.
21. Tri Series cricket: India enters the final

ii. The 22-year-old Bhuvneshwar had career-best figures of 4 for 8 runs in six overs as Sri Lanka were bundled out for a paltry 96 in 24.4 overs in pursuit of 178 in stipulated 26 overs.
iii. Virat Kohli, in his maiden stint as captain, guided the India into the title round. Bhuvneshwar Kumar was declared the man of the match.
iv. India thus topped the table with 10 points including bonus points from the last two encounters.
v. India will meet Sri Lanka only in the final at the same venue tomorrow.
22. Hockey India ropes in Kaushik as coach

ii. Kaushik will assist High Performance Director, Roelant Oltmans, who will now double up as a chief coach till a suitable replacement for Nobbs is found.
iii. Reacting to his appointment, Kaushik said: “I am very happy. It’s an honour for any player to coach his country; I have experience of working with different people from the coaching fraternity and will give my best.”
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