Employment News 22 August 2013

Employment News 22 August 2013 , PART 1 22 AUGUST GK UPDATE

Anil Ambani deposes before court

Reliance ADAG Chairman eached the court premises early this morning and deposed before Special CBI Judge O P Saini.

Reliance ADAG Chairman Anil Ambani on Thursday deposed as a Central Bureau of Investigation (CBI) witness in the 2G case before a Delhi court after it dismissed Reliance Telecom Ltd’s (RTL) plea for postponement of his testimony.

Mr. Ambani reached the court premises early this morning and deposed before Special CBI Judge O P Saini.

The court had on Wednesday dismissed RTL’s plea for postponement of examination of additional witnesses — Anil Ambani and his wife Tina — in the 2G case, saying no prejudice would be caused to any accused by their deposition.

RTL, along with others, including former Telecom Minister A Raja and DMK MP Kanimozhi, is facing trial in the 2G case.

Govt to set up committee to look into backlog in filling up of reserved vacancies

Government has decided to set up a 20 member committee to make in-depth analysis of the reasons for backlog in filling up of reserved vacancies. 

The committee headed by the Secretary, Ministry of Social Justice and Empowerment will suggest measures to enhance the employability of reserved category candidates.

It will submit its report within a period of three months from the date of its constitution.

The government had launched a Special Recruitment Drive to fill up the backlog reserved vacancies of the Scheduled Castes, Scheduled Tribes and Other Backward Classes in 2008.

The progress of the drive was reviewed by the government in May this year and it was found that out of a total of 64,175 backlog vacancies 48,034 vacancies were filled up.

SEBI allows MFs to trade directly on debt platforms of recognized stock exchanges

Market regulator SEBI has allowed mutual funds to trade directly on debt platforms of recognised stock exchanges. 

In a notification issued from Mumbai, SEBI has said that asset management companies appointed by mutual fund houses will be permitted to register themselves under 'proprietary trading members' category of stock exchanges. 

They will be allowed to carry out trades in the debt segment of these stock exchanges, on behalf of mutual fund houses.

SEBI has further laid out certain conditions related to the custodian and sponsor of these mutual funds. 

SEBI has said that the custodian and the AMC of a mutual fund should not be subsidiaries of each other. Generally, custodians are entities responsible for safe keeping of securities.

Trial of Chinese politician Bo Xilai, charged with corruption and abuse of power, started in Jinan city on Thursday morning, amid national and international media glare----

The “open trial” of Mr. Bo, the highest rank Chinese leader to go on trial in recent years, began at Jinan Intermediate People’s Court in Shandong province, at around 08:40 a.m. local time.

The former Communist Party leader stands trial for bribery, embezzlement and abuse of power, state-run news agency reported.

State-run CCTV has shown a convoy of cars carrying Mr. Bo and other officials entering the court.

Over 300 national and foreign journalists have converged there to cover the trial.

In case of corruption involved $45.1 million, according to state media.

He was also accused of immoral activities.

The main charge against him is abuse of power specially his alleged efforts to shield his wife Gu Kailai from her involvement in the murder of British National Neil Heywood, which prompted the police chief of Chongqing Wang Lijun to seek asylum in U.S. Consulate in Chengdu last year.

Rupee  hit an all-time low of 65.12 against the US currency in the late morning trade on persistent dollar demand from banks and importers in view of sustained capital outflows by foreign funds----

The rupee resumed lower at 64.85 per dollar as against the Wednesday’s closing level of 64.11 per dollar at the Interbank Foreign Exchange Market and dropped further to an all-time low of 65.12 per dollar.

However, it recovered afterwards to 64.65 per dollar before quoting at 64.88 per dollar at 10:15 hrs on mild selling of dollars by banks, still showing a loss of 77 paise or 1.20 per cent from its last close.

It moved in a range of 64.65 and 65.12 per dollar during the morning deals.

Israel President Shimon Peres Requested the country’s children to get polio boosters after a rare outbreak of the virus spread to the north of the country.

Israel this week began a nationwide campaign to inoculate children with booster drops after a rare discovery of the virus in the south of the country. The campaign gives a second boost of protection.

There have been no clinical cases of the virus.