Intermediate goods or producer goods or semi-finished products are goods used as inputs in the production of other goods, such as partly finished goods. Also, they are goods used in production of final goods.A firm may make and then use intermediate goods, or make and then sell, or buy then use them. In the production process, intermediate goods either become part of the final product, or are changed beyond recognition in the process.
RBI relaxes ECB norms for housing and aviation sectors
i. In a bid to provide companies with easier access to
cheaper funds for key infrastructure sectors, the Reserve Bank of India (RBI)
on Tuesday relaxed external commercial borrowing (ECB) norms.
ii. The central bank said it extended the ECB relaxation for
the housing sector from one year to two more years and for the aviation sector
by a few more months.
iii. Announcing the decision, RBI Deputy Governor H R Khan
said, "The RBI has extended the external commercial borrowing (ECB)
relaxation for affordable housing which was there for one year to two more
years (now) and aviation for a few more months."
iv. The central bank, however, made no overall change in ECB
limit, which is current at US$40 billion.
ii. The central bank had also permitted civil aviation
sector to raise capital through the ECB route.
iii. ECBs are increasingly gaining popularity as cost of
raising loans overseas is considerably lower than that of domestic borrowings.
Choudhary becomes first Indian to be
elected as BoD of ITTF
i. Table Tennis Federation of India (TTFI) general secretary
Dhanraj Choudhary has become the first Indian to be elected as one of the Board
of Directors (BoD) to the international sport body (ITTF).
ii. He was elected during International Table Tennis
Federation's Annual General Meeting held in Paris on Thursday night.
iii. Choudhary was nominated to the decision-making body by
the Asian Table Tennis Union (ATTU), following his service to the sport in the
region, particularly India. Choudhary took over as secretary-general of the Indian
body when his predecessor Moolchand Chouhan died during his tenure in 2009.
David Beckham announced his Retirement
i. Legendary Footballer and Former England captain David
Beckham on 16 May 2013 announced his retirement from professional football and
gave an end to his illustrious career of more than two decades.
ii. He will retire from the professional football after the
end of this season.
iii. The 38 year old footballer recently helped his team to
win a league title in the fourth country with Paris Saint Germain
iv. David Beckham joined Manchester United as a 14-year-old
in 1992 and made 398 appearances, winning six Premier League titles and the
Champions League.
v. He is the most capped outfield player of in the history
of England
vi. Beckham earned 115 caps for England, a record for an
outfield player, and won the Champions League, six Premier League titles and
two FA Cups with Manchester United.
Bill Gates emerges world’s richest
person
i. Bill Gates has once against claimed the title of the
richest person in the world, according to the latest data released by
Bloomberg.
ii. Gates managed to surpass telecom sector billionaire,
Carlos Slim of Mexico to become the richest person in the world, according to
the Bloomberg Billionaires Index that was released on Friday.
iii. The Bloomberg Billionaires Index, a daily ranking of
the world's 100 wealthiest individuals, showed that Mexican telecommunications
magnate Carlos Slim ceded the first position to the American entreprene
iv. Bloomberg news on its official Twitter account wrote,
"Bill Gates dethrones Carlos Slim as the world's richest man as Microsoft
hits five-year high."
v. Gates's fortune was valued at 72.7 billion dollars, which
is higher than Carlos Slim's total fortune worth 72.1 billion. Microsoft
founder Bill Gates recorded an increase of 10 billion dollars in his fortune
this year while Slim saw his fortune fall by more than 2 billion dollars.
vi. Gates has claimed the title for the first time since
2007, when he was the richest person in the world.
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