Employment News Today 24 July 2013

Employment News Today 24 July 2013

Ramnath Goenka award

Indian journalism BAGS Ramnath Goenka award

Indian journalism being honoured for their commitment, courage and enterprise at the sixth Ramnath Goenka Excellence in Journalism Awards.

Twenty-nine print and broadcast journalists in 17 categories, selected by a 10-member jury, received the awards that were handed over by Chief Justice of India P Sathasivam at a function held in New Delhi .

Hindustan Times’ Delhi Metro team won the Prakash Kardaley Memorial Award for Civic Journalism instituted by the Ramnath Goenka Memorial Foundation. 

The team got the award for its coverage of the Commonwealth Games in 2010.

Josy Joseph of The Times of India won the Ramnath Goenka Journalist of the Year award (print), while Ravish Kumar of NDTV India won the Journalist of the Year award (broadcast). 

Among the other winners in the print section were Mehboob Jeelani of The Caravan for reporting from Jammu and Kashmir and the North-east. 

Atul Chaurasia of Tehelka for excellence in Hindi Journalism; and Shivani Naik of Indian Express for excellence in sports journalism. Manu Pubby of Indian Express got the award for on-the-spot reporting.

Suanshu Khurana of Indian Express won the award for excellence in film and television journalism. Some of the winners from the broadcast section were Mufti Islah of CNN-IBN for excellence in reporting from J&K and the North-east

Umashankar Singh of NDTV India for excellence in Hindi Journalism; and Latha Venkatesh of CNBC TV18 for business and economic journalism. 

Veteran journalist Inder Malhotra received the lifetime achievement award.

India, China hold 3rd meet on border affairs

India and China are holding the third meeting on border affairs in New Delhi today.

The meeting focuses on maintaining peace and tranquillity on the border and ensuring better coordination and communication.

The two-day meeting of working mechanism for consultation and coordination on India-China border affairs is led by Joint Secretary in the Ministry of External Affairs Gautam Bambawale and seniors officials of Defence and Home Ministries from Indian side. 

A composite delegation of officials is representing the Chinese side in the meeting. 

The meeting is part of a series of regular interactions between the two countries.

U.S. Commerce Department launched one of its biggest trade investigations in years into charges that manufacturers in India, South Korea and seven other countries are selling steel pipe used by oil and natural gas producers at unfairly low prices in the United States.

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Imports of oil country tubular goods (OCTG) from the nine countries totaled nearly $1.8 billion in 2012, more than double their total in 2010, as rising U.S. oil and natural gas production have increased demand for the pipe.

The Commerce Department will make a preliminary decision on countervailing duties in September and on anti-dumping duties in December. Final decisions will come in 2014.

Under the U.S. system, the Commerce Department investigates charges of unfair trade and determines whether duties are appropriate and if so at what level. 

But the ITC must approve the probe and has the final word on whether duties are imposed.

Scott Barnes, senior vice president at TMK IPSCO, conceded that OCTG imports have fallen so far in 2013, after rising in previous years.

Today is 106th birth anniversary of anniversary of fearless revolutionary and freedom fighter Chandrashekhar Azad.

He was born on July 23, 1906 to Sitaram Tewari and Jagrani Devi in Jhabua District, Madhya Pradesh.

Chandrasekhar received his early education in a village school. After completing his elementary schooling, he went to Varanasi for further studies in Sanskrit Vidyalaya.

At a young age of 15 in 1921, Chandra Shekhar joined Mahatma Gandhi in his Non-Cooperation movement. But he was detained and presented before the magistrate.

When he was produced before the magistrate, he gave his name as 'Azad', his father's name as 'Swatantra' and his residence as 'prison'.

Chandra Shekhar was involved in the Kakori Conspiracy (1925), in an attempt to blow up the Viceroy's train and at last the shooting of JP Saunders at Lahore in 1928 to avenge the killing of Lala Lajpat Rai.

On February 27, 1931, Azad was encircled by police party in Alfred Park, Allahabad, where he went to meet an old friend. He was not the one to surrender, he fought bravely, and when a single bullet remained,the born-free Azad shot himself.

The British police was so terrified that after his death they watched his body for half an hour in a bid to confirm that he is dead.

Indo-Iranian tea ties

Iran accounts for about 10 per cent of India’s foreign exchange earnings from tea. A tea delegation from Iran, comprising representatives of trade, industry and government, is set to visit India early next month.

The visit is being considered significant, given the upward trend in India’s exports of orthodox tea to Iran, a high-value market. Iran accounts for about 10 per cent of India’s foreign exchange earnings from tea.

While India had sent two delegations since July 2012, it last received an Iranian delegation nearly three years ago

Iran grows some 50 million kg of tea but has to import to feed its domestic market. India imports around 2.4 million kg of Iranian tea (mainly for sampling). 

In the wake of the sanctions and the ensuing payments problem, India’s tea exports to Iran dropped to 7 million kg in 2010. 

With issues sorted out, India exported 13.5 million kg in 2012. 

Although logistic issues are now proving to be a hurdle for Indian tea exporters (as most shippers decline to sail to Iran), there is optimism that the export figure could double this year. 

Kumar Mangalam Birla resigns from RBI board

Aditya Birla Group chairman Kumar Mangalam Birla has resigned from the Reserve Bank of India (RBI) board to avoid any conflict of interest as one of his group firm is in the race for a new banking licence, a company spokesperson said Tuesday

Birla was a member of the RBI's central board, the apex policy making body of the country's central bank.

Birla's name does not figure in the updated list of directors of the RBI board as posted on the central bank's website.

The prominent private sector representatives on the board include Azim Premji, Y. C. Deveshwar and G. M. Rao. None of their group firms are seeking a banking licence.

Twenty-six companies are in the fray for new banking linceces in the private sector, including some top corporate houses like Tata Sons, L&T, Reliance Group, Bajaj, Shriram and Religare, besides Birla.

The rupee on Wednesday gained 26 paise to 59.50 against the dollar in early trade at the Interbank Foreign Exchange market on fresh dollar selling by exporters after the RBI announced additional measures to arrest the local currency’s slide.

Tightening measures announced by the RBI to contain excessive speculation and volatility in the foreign exchange market, supported the local currency.

The rupee had lost four paise, to close at 59.76 against the dollar on Tuesday on sustained demand from importers and a rise in the US currency overseas.

Shane Warne, Retired from All Forms of Cricket

Shane Warne, the legend of spin retired from all forms of cricket officially. He announced retiring from Twenty20 League, thereby ending the overall competitive cricket career.

In the year 2007, the 43-year old Shane Warne quit the Test cricket with 708 wickets.

He had remained active in the domestic Twenty20 leagues. He was also the captain of Rajasthan Royals in the inaugural Indian Premier League (IPL) title in 2008.

After four seasons of IPL, Shane Warne signed up for the Melbourne Stars as a marquee player in the inaugural 2011-12 British Basketball League season.

Indian-origin peer Ajay Kakkar has been made the chairman of the influential House of Lords Appointments Commission

Indian-origin peer Ajay Kakkar has been made the chairman of the influential House of Lords Appointments Commission, an advisory body which selects new independent members of UK's House of Lords.

Kakkar was appointed to the post by British Prime Minister David Cameron. 

The appointment will be for a single non-renewable term of five years and will be effective from October.

In its position as an advisory non-departmental public body sponsored by the Cabinet Office, the commission selects independent members on merit and on their commitment to the work of the House of Lords, in scrutinising legislation, sitting on committees and participating in debates.

Lord Kakkar is Professor of Surgery at University College London  and Consultant Surgeon University College London Hospitals NHS Foundation Trust since 2011.

He was appointed an independent non-party-political peer by the House of Lords Appointments Commission in 2010 and is a member of EU Sub-Committee B.

India and Nigeria signed agreement for Solar Power Plants

India and Nigeria on 22 July 2013 signed an agreement in Abuja to locate sites for solar power plants in Niger state.

The agreement will provide additional energy for Nigeria's national grid. It would be the first of a series of power plant deals.

The agreement was signed between the secretary to the Government of India, Sutanu Behuria and Nigeria's permanent secretary in the Ministry of Power Godknows Igali.

With this agreement in place, Bharat Heavy Electricals (BSE) will begin preliminary studies for setting up independent solar-powered plants in selected locations in Niger.’

 India expressed interest in the provision of funds in various forms for the development of Nigeria's power sector.

RBI relaxes KYC norms for banks on data updation

Banks will now be required to update KYC data only once in two years for high risk entities, and just once in 10 years for low-risk clients.

RESERVE BANK SAID---
The issue has been reviewed in the light of practical difficulties/constraints expressed by bankers/customers in obtaining/submitting fresh KYC documents at frequent intervals as the relative documents submitted earlier specially by low- risk customers have remained unchanged in most of the accounts.

For low risk individuals and entities, the KYC data updation has been relaxed to at least every 10 years from the requirement of not less than once in five years earlier.

For medium risk individuals and entities it has been relaxed to at least every eight years, from not less than once in two years.

Banks should closely examine transactions to ensure its consistency with their knowledge of the client, about their business and risk profile and, wherever necessary, the source of funds.

Confirmation regarding KYC norms through e-mail, letter, telephonic conversation and so on will be required to be completed at least every two years for medium risk and at least every three years for low risk individuals and entities.

Bank will be required to get fresh photographs from minor customer on becoming major.

Banks may revise their KYC policy in the light of the above instructions and ensure strict adherence to the same.