Employment News Paper 20 July 2013

Employment News Paper 20 July 2013

ADB to lend $ 60 million for urban services in Karnataka

government today signed an agreement with the Asian Development Bank for a $ 60 million loan to improve urban services in towns in North Karnataka

The project is meant for Bidar, Davanagere, Dharwad, Gadag-Betegeri, Gulbarga, Jamkhandi, Sindhanur and Yadgir.

It will promote economic growth and improve access to better urban services in the eight targeted urban local bodies, the release added.

The ADB loan has a 25-year term, including a grace period of five years. The state government will provide counterpart funds of $ 41.6 million for a total project investment cost of $ 101.6 million under this tranche.

The agreement is for the third project under the overall facility of $ 270 million for the North Karnataka Urban Sector Investment Program (NKUSIP), the Finance Ministry said in a statement.

G20 Ministers Meet In Moscow

Finance ministers and central bankers from the Group of 20 leading and emerging economies (G20) are starting a two-day meeting in Moscow from today. 

Talks are expected to focus on ways to stop big companies shifting profits into tax havens.

The G20, a forum that took the lead in the 2008-09 financial crisis, now faces the challenge of having to deal with a multispeed global economy.

The Moscow meeting is also part of preparations for a G20 summit in September in Moscow. 

Russia is the current holder of the annual presidency of the G20.

The meeting comes a day after a Russian court sentenced a top opposition leader, Aleksei Navalny, to five years in jail, a ruling that has been widely criticized in the West and elsewhere.

Export-Import Bank of India (Exim) has extended an additional line of credit of $ 19.50 million to the Vietnam government for financing two projects.

The LOCs have supported export of items like equipment for hydro power project, cold rolling steel, carding and spinning machines, hydraulic power equipment, tea processing machinery and the Nam Chien Hydropower Project in Vietnam

Currently, Exim Bank has in place 173 LOCs covering over 75 countries in Africa, Asia, Latin America, Europe and the CIS, with credit commitments of over $ 9.13 billion available for financing exports from India, the release said.

Justice Sathasivam sworn in as Chief Justice of India

Justice P Sathasivam has been sworn in as the 40th Chief Justice of India (CJI) by President Pranab Mukherjee on Friday, replacing Justice Altamas Kabir, who served as the CJI for over nine months.

Justice Sathasivam, 64, took oath in the name of God at a brief ceremony at Darbar Hall of Rashtrapati Bhavan.

Justice Sathasivam, 64, is first CJI from Tamil Nadu and the 40th CJI of India. 

The term of his office will be till 26 April 2014. Justice Palanisamy Sathasivam succeeded CJI Altamas Kabir who left the office on 18 July 2013. 

Supreme Court of India consists of one Chief Justice and 31 judges.

Some major judgements by Justice Sathasivam include the Mumbai blasts case and that of Pakistani scientist Mohammed Khalil Chisti. A bench of Justice Sathasivam and Justice B S Chauhan had upheld the conviction of actor Sanjay Dutt and several others in the Mumbai blasts case.

Archaeologists find King David’s 3,000-year-old palace

Archaeologists claim to have found a 3,000-year-old palace and royal storehouse in Jerusalem belonging to Biblical King David. The two buildings are the largest structures standing during the 10th-century BC to have been found in the territory of the Kingdom of Judah.

One of the buildings was identified by the researchers, professor Yossi Garfinkel and Saar Ganor as David's palace, and the other structure served as an enormous royal storeroom.

They said the southern part of a large palace that extended across an area of 1,000 square metre was revealed at the top of the city.

Much of this palace was destroyed around 1,400 years later when a fortified farmhouse was built there in the Byzantine period. A pillared building 15 metres long by 6 metres wide was exposed in the north of the city, which was used as an administrative storeroom, archaeologists said.

Justice Altamas Kabir Retired from the Office of Chief Justice of India

Justice Altamas Kabir retired from the office of Chief Justice of India on 18 July 2013 after a short term of just nine months.

He became the judge of the Supreme Court on 9 September 2005.

He was the 39th Chief Justice of India. Altamas Kabir remained in the office for a period of nine months, i.e., from 29 September 2012 to 18 July 2013.

Justice Altamas Kabir on 29 September 2012 was sworn-in as the Chief Justice of India by President Pranab Mukherjee. He took over the office from Justice Sarosh Homi Kapadia. 

Altamas Kabir was first time appointed as a permanent judge in the Calcutta high Court on 6 August 1990 and has served the Chief Justice of Jharkhand High Court.

Obama nominates Indian-American as Assistant Secretary of State

US President Barack Obama has nominated an Indian-American Nisha Desai Biswal for the key post of Assistant Secretary of State for South and Central Asia.

Ms Biswal is currently the Assistant Administrator for Asia at the US Agency for International Development.

She will replace incumbent Robert Blake, subject to confirmation by the Senate. 

Nomination of Ms Biswal came along with announcements for seven other senior administration level positions.

Santosh Lal the Inventor of Helicopter Shot Died

Santosh Lal, the member of Jharkhand Ranji Sqad and the inventor of Mahendra Singh Dhoni’s (Captain Indian Cricket Team) signature shot, Helicopter Shot died on 17 July 2013 at a hospital in New Delhi

The 32 year old Santosh was being treated for pancreatitis. He is now survived by his parents, a wife and a 3-year old daughter. 

The 32 year old Santosh was being treated for pancreatitis. He is now survived by his parents, a wife and a 3-year old daughter. 

Santosh Lal was the friend of Mahendra Singh Dhoni, captain of Indian cricket team. He was the person, who taught Dhoni the process to play Helicopter Shot.

Sebi to auction Rs 23,000 cr worth govt bonds for FIIs

Market regulator Sebi will hold an auction on Monday for grant of investment limits to foreign investors in government debt securities worth over Rs 23,000 crore.

The auction follows a robust interest shown by FIIs for sale of government debt bond investment limits to the tune of Rs 42,000, crore last month. The biggest sale of government securities so far this year, it had attracted bids worth Rs 39,171 crore. A total of 37 FIIs had participated in the last month's auction.

Indian debt markets had witnessed robust interest from FIIs last year as well, when their net investments stood at close to Rs 35,000 crore.

Sebi auctions debt limits for FIIs is conducted on the 20th of every month. The government recently relaxed ownership limits in Indian debt for FIIs.

Dave Staniforth appointed as goalkeeping coach and strategic analyst 

Former South Africa player Dave Staniforth has been appointed as goalkeeping coach and strategic analyst of the Indian senior and junior men's teams, Hockey India announced on Thursday.

The 37-year-old Staniforth, who represented his country in 65 internationals, has worked as goalkeeping coach with the South African national side for three years.

Staniforth was also goalkeeping coach and video analyst of Ranchi Rhinos, the inaugural champions of the Hockey India League (HIL).

Hockey India Secretary General Narinder Batra said Staniforth's appointment will benefit all the goalkeepers in the core probables immensely.

Staniforth represented South Africa in the 2004 Athens Olympic Games, 2002 Commonwealth Games in Manchester, 10th FIH Hockey World Cup in Kuala Lumpur in 2002 and 8th All Africa Games in Nigeria 2003.

Furtado, Narayanan win in Junior U-19 Chess Ch'ship

 IM Ivana Maria Furtado of Goa defeated Delhi's 12th seed Madhurima Shekhar in the National Junior U-19 Chess Championship in Lucknow.

Fourth seed FM Sayantan Das of West Bengal settled for a draw with Maharashtra's ninth seed Pratik Patil.

Sayantan has collected nine points and still placed on top position in the Open section.

India has been ranked the first among Dubai's food import partners

The Dubai customs has announced that India has topped among Dubai's food import partners with a share of 14 per cent, equivalent to Rs 95.2 billion (5.84 billion dirhams). Sugar topped Dubai's food imports in 2012 with a share of 10 percent equivalent to 4.3 billion dirhams, followed by rice with a share of 6 percent representing a value of 2.67 billion dirhams then tea with a share of 5 percent equivalent to 2.02 billion dirhams.

amounting to over Rs 95 billion, according to the customs here.

Foodstuff sector is one of the most essential commercial sectors which Dubai Customs keenly targets to expedite its imports to satisfy consumption needs at reasonable prices.

ONGC Videsh most internationalised Indian company

ONGC Videsh has topped the list of 15 most internationalised Indian companies, prepared by Indian School of Business (ISB) along with Brazil's Fundacao Dom Cabral. The company is the only public sector enterprise in the league, which features six Tata group companies.

Tata Steel at the second spot -- which was on top last year -- others are Tata Global Beverages(3), Tata Communications (6), Tata Motors (9), Tata Consultancy Services (12) and Tata Chemicals (15).

The rankings, which have taken into accounts figures for fiscal ended March 2012 -- are based on three factors: percentage of international assets against total assets, overseas revenues against total revenues and percentage of foreign employees with respect to total headcount.

intra-circle roaming pacts to take on giants

Tata Teleservices, RCom, Aircel and Loop sign intra-circle roaming pacts to take on giants

Reliance Communications has entered into agreements with Aircel and Loop Mobile to share networks in Mumbai. RCOM's agreement with Aircel is mutual - subscribers of each can latch on to the network of the partner when their home network is weak. Both companies would pay each other just like they would in a roaming agreement. But the deal with Loop Mobile - it operates only in Mumbai - is unilateral. Only RCOM will use and pay for the latter's infrastructure.

in Bihar for example, the Tata group has a similar agreement with Aircel. In some pockets, Tata was utilising only 10% of its network.

Telecom is waiting for consolidation. If the new M&A policy –

These agreements, industry sources say, can help the smaller companies combine their networks into one footprint, with many brands riding on it. At the moment, the telecom regulator bars transfer of spectrum as part of an acquisition, defeating the purpose of mergers in most cases.