28 AUGUST EMPLOYMENT NEWS 2013

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Nasa to launch Moon mission

The US space agency is gearing up for the mission designed to gain a better picture of the structure and composition of Moon's thin atmosphere, next month in an attempt to answer prevailing questions about the lunar atmosphere.

The September 6 launch will be the first beyond Earth orbit from the Nasa's Virginia Space Coast launch facility.

The Lunar Atmosphere and Dust Environment Explorer (LADEE) will orbit the Moon to gather detailed information about lunar atmosphere and determine whether dust is being lofted into the lunar sky, Nasa said.

LADEE was built using a general purpose spacecraft design that allows Nasa to develop, assemble and test multiple modules at the same time.

LADEE will begin its 40-day commissioning phase, the first 30 days of which the spacecraft will be performing activities high above the Moon's surface. 

These activities include testing a high-data-rate laser communication system that will enable higher rates of satellite communications similar in capability to high-speed fibre optic networks on Earth.

The mission has many firsts, including the first flight of the Minotaur V rocket, testing of a high-data-rate laser communication system, and the first launch beyond Earth orbit from the agency's Virginia Space Coast launch facility.

Need currency swap arrangements with important trading partners: Anand Sharma SAID

Commerce and Industry Minister Anand Sharma today said India needs to seriously look at currency swap arrangements with important trading partners with a view to stabilise the rupee. 

Speaking at the Board of Trade meeting in New Delhi, Mr. Sharma asked for the suggestions from the Industry and bankers to look at the possible currency swap with the four big nations to boost the domestic currency.

The rupee has been consistently hitting record lows and breached 66 to a dollar today.

The Commerce Minister said rupee depreciation was not helping exporters because most of the exports were dependent on imported raw material.

Mr. Sharma informed the Country will exceed the export target of 350 billion dollars this year. He said the Government is also banking on higher exports to help bridge the current account deficit which in turn would steady the rupee.

Teddy bear beats Felix Baumgartner’s skydiving record

Acuddly bear named Babbage has beaten Felix Baumgartner's skydiving world record, using a weather balloon and a Raspberry Pi computer to climb to an estimated height of 39,000 metres before tumbling back to Earth.

The jump was coordinated by David Akerman, a high-altitude balloonist and Pi enthusiast who kitted out the toy with the low-cost computer acting as a flight control centre.

Babbage was hooked into a 'launch capsule' kitted out, like Baumgartner's, with an overthe-shoulder camera and then attached to a hydrogen-filled weather balloon and launched from a site near Akerman's home in Berkshire.

The Pi has been put into use making instruments from vegetables, creating home-based weather stations and even giving life to 3D-printed robots. 

Baumgartner made his recordbreaking skydive in October last year, reaching a height of 38,969 metres.

China seeks to boost military ties with Bangladesh

The two militaries pledged to strengthen defence ties during a meeting between Chinese Defence Minister Chang Wanquan and Bangladesh's Chief of Army Staff Gen Iqbal Karim Bhuiyan on Tuesday.

Chang told Gen Karim that China attaches great importance to developing relations with Bangladesh and is committed to cementing the two sides' comprehensive partnership of cooperation, media reported.

Thanking China for its support and assistance for Bangladesh, Gen Karim said his country is willing to advance the two militaries' relations through further cooperation.

China in recent years has beefed up its political, military and trade relations with almost all of India's neighbours in South Asia increasing its strategic presence in the region.

BlackBerry considering spinoff of messaging service

BlackBerry Ltd is considering spinning off its messaging service into a separate unit.

However, there is no immediate plan to spin off the unit, one of the sources said, adding that BBM for Apple's iPhone and devices using Google's Android should be available to consumers in the next few weeks.

The instant messaging service has about 60 million users who send billions of messages a day.

 BlackBerry has sought to add value to the service, even as the popularity of the company's own handsets shrinks, by adding video calling over WiFi and working to make the service available to users of other devices.

BlackBerry has been shifting executives to the BBM team and working on other offerings beyond messaging, including some tools already available to BlackBerry users, like video chatting, the newspaper said.

The company is also considering making BBM available for desktop computers, the daily said, quoting a person familiar with the matter.

Ponzi operators to face penalties worth three-times of profits

Operators of illegal money-pooling schemes will soon face penalties of up to three times the profit made by them, as against the current provision of a meagre fine of Rs. 1 crore.

The capital markets regulator Sebi (Securities and Exchange Board of India) has decided to increase the monetary penalty for those running unauthorised Collective Investment Schemes (CIS), as the existing mechanism have not proved to be sufficient to deter such illegal mobilisation of money.

As per a Sebi memorandum in this regard, illegal mobilisation of funds within the existing legal framework falls within a provision wherein a maximum penalty of Rs. 1 crore may be imposed.

Sebi is of the view that this penalty "is very meagre compared to the money mobilised by unregistered CIS, especially considering that in certain cases the money mobilised is in multiples of thousand crores."

A typical 'ponzi' scheme involves the operator collecting a large amount of money from investors and paying them returns from their own money or the money collected from subsequent investors, rather than from profit earned by the person or entity operating such a scheme.

Sebi says it has come across various cases of "huge sums of money being raised by unscrupulous operators from a large number of investors by floating schemes in the nature of unregistered collective investment schemes".

Sebi has, therefore, decided to amend its FUTP Regulations to take enforcement action against unregistered CIS entities by way of adjudication proceedings, which have proved to be more effective and involve larger penalties.

It has been proposed that any illegal mobilisation of funds without obtaining a certificate under the CIS Regulations can be declared as a fraudulent and unfair trade practice under the FUTP Regulations.

The FUTP Regulations are also being amended to declare that dealing in securities shall be deemed to be a fraudulent or an unfair trade practice if it involves mobilisation of money by any person in violation of CIS Regulations and the relevant sections of the Sebi Act.

Such activities came to be known as 'ponzi' schemes after Charles Ponzi, who became notorious in the US in 1920s for deploying this technique while promising 50% return on investments in 45 days and 100% within 90 days.

Justin Timberlake wins top trophies at MTV Video Music Awards

Singer-actor Justin Timberlakeruled the MTV Video Music Awards here by picking up four honours and delivering the night's show-stopping performance with NSYNC.

The pop superstar, who had a much anticipated reunion with former boy band NSYNC on Sunday, took home the Michael Jackson Video 

Vanguard Award, Video of the Year for Mirrors, which also claimed Best Editing honours, and his Suit & Tie promo earned the Best Direction prize, reported the Huffington Post.

Rapper duo MACklemore and Ryan Lewis were also big winners as they scored Best Hip Hop Video and Best Cinematography trophies for their Can't Hold Us promo and also landed the night's Best Video with a Social Message award for their gay anthem Same Love, which they performed with Mary Lambert and special guest Jennifer Hudson.

Kanye West, Timberlake, Bruno Mars, MACklemore & Ryan Lewis, and Drake also hit the stage, while Katy Perry closed the 2013 ceremony by performing her new song Roar underneath the Brooklyn Bridge.