International Updates Today 2013

International Updates Today 2013 National Updates Today 2013 June

Bharti Airtel to invest $125 mn in Gabon

Bharti Airtel today said it will invest additional USD 125 million in African country Gabon on commercial and social programmes.

These include the deployment of 3G and 4G network, when made available, to help businesses and the youth access world class data services," Airtel's Managing Director and CEO International, Manoj Kohli said in a statement.

continued support in youth driven activity like soccer and the support of a young Gabonese ICT entrepreneurship programme to provide ICT training to 10,000 youth over the next 3 years. 

National Cycling Coach killed in Road Accident in Noida

Ruma Chatterjee, the Cycling Coach of Indian national team on 18 June 2013 died in a road accident near Nalgadha village on Noida Expressway in Uttar Pradesh. She is now survived by her mother and five sisters. 

Ruma Chatterjee died while training 20 junior team members on the expressway when she was hit by a speeding car from behind. 

She was attending the national camp ahead of the Indian team's visit to International Cycling Union (UCI) Academy, Switzerland for training. 

iii. The four-member squad will participate in the World Championships in Scotland in August 2013.

Ruma was a former International Cyclist from India 

She represented India three times in international competitions. 

She has served as coach of the national team in Asian Games, Asian Championships and during the 2010 Commonwealth Games in New Delhi

Licences of 20 Multi System Operators cancelled

Information and Broadcasting Ministry has cancelled the licences of 20 Multi System Operators (MSOs) for not meeting the conditions for providing digitised cable services.

The deadline for phase II of the digitisation in 38 cities ended on April 1 and the disqualified MSOs were not providing services under the new digital regime.

An official said that setting up a digital head-end was one of the conditions for MSOs to comply and the MSOs whose licenses were cancelled did not met these conditions.

Govt panel for hiking FDI limits in def, retail, telecom

A govt panel proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.

The committee, which was set up by Finance Minister P Chidambaram to review the sectoral caps, has suggested that the Foreign Direct Investment (FDI) ceiling in the Defence sector be raised to 49 percent under the government approval route from 26 percent at present.

In order to make multi-brand retail more attractive to foreign investors, the panel suggested that the FDI limit be raised to 74 percent under the Foreign Investment Promotion Board (FIPB) route from 51 percent.

In case of single-brand retail, it suggested easing of the norms by advocating 49 percent investments under the automatic route.

Currently, the government allows 100 percent FDI under the approval route.

Similarly in case of Pharmaceuticals sector, the committee recommended 49 percent under automatic route as against 100 percent under the government approval route.

The relaxation in foreign investment caps is aimed at check the widening CAD which is estimated to be 5 percent of the GDP in 2012-13 as against the Reserve Bank's comfort level level of 2.5 percent.

Sri Srinivasan to the D.C. Circuit Court of Appeals, a vote that comes amid tensions surrounding a potential Senate showdown on filibuster reform this summer. 

IDFC to seek licence from RBI for setting up bank

Infrastructure financing company IDFC today said the board has approved a proposal to seek licence from RBI for setting up a bank.

The licence would be sought based on the guidelines for licensing of new banks in the private sector dated February 22 and the associated clarifications issued by RBI on June 3, it said.

India has 26 public sector banks, 22 private sector banks and 56 regional rural banks.

Ten banks were licenced on the basis of guidelines issued in January 1993. 

The guidelines were revised in January 2001 based on the experience gained from the functioning of these banks, and fresh applications were invited.

Of the 10 licences issued in 1993, four banks merged with other lenders over a period of time. Times Bank merged with HDFC Bank, while Global Trust Bank was amalgamated with the state-owned Oriental Bank of Commerce.

Centurion Bank took over Bank of Punjab to become Centurion Bank of Punjab

which merged with HDFC Bank in 2008.

World Bank to provide $255 mn loan for AIDS control project

World Bank will provide $255 million (Rs 1,499.6 crore) loan to India for National AIDS Control Project to promote safe behaviour among high risk groups.

An agreement for loan of USD 255 million (equivalent) from World Bank for the 'National AIDS Control Project ( NACP-IV)' was signed here today between India and the World Bank, it said.

The objective of the project is to increase safe behaviours among high risk groups in order to contribute to India's national goal of reversal of the HIV epidemic by 2017."

The project aims at scaling-up targeted prevention interventions, behaviour change communications and institutional strengthening at the national, state and district