EMPLOYMENT NEWS 30 AUGUST 2013

EMPLOYMENT NEWS 30 AUGUST 2013
Videocon launches smartphone at Rs. 7,490

The 4.5-incher Videocon A42 comes with Android 4.2.2 (Jelly Bean) and has features such as dual SIM dual standby, 1.2 GHz dual.

core processor and 3.75G connectivity. The phone also has a 5MP rear camera and a 1.3MP front camera. It can also store data up to 32GB.
The Videocon A42 is also enabled with ‘V-Store’ which gives the users one-touch access to apps available for the smartphone.

South Korea's Samsung Electronics will unveil its new Galaxy Gear "smartwatch" early next month, ahead of Apple's iWatch, Bloomberg news and a fan site said Saturday.
The Galaxy Gear, which will allow users to make calls, access email and even surf the Internet
Sony unveiled the latest version of its SmartWatch, which links with smartphones to receive alerts about phone calls, emails and updates from social networks and also includes a music function.

SIDBI, Franchise India tie up to fundfranchisee business

Small Industries Development Bank of India (SIDBI) has joined hands with Franchise India to provide financial support to emerging and established franchisors in India.

The tie-up is expected to enable SIDBI create a sustainable and robust financing model for the franchise industry, N.K.Maini, Deputy Managing Director, SIDBI, said.

The SIDBI-Franchise India programme has been instituted as a funding initiative to make the franchising model of business less daunting for aspiring entrepreneurs.

Currently, financing is very difficult as the franchisees are often not able to provide any collateral, it was pointed out.

From 1.4 per cent of GDP at present, the franchise industry is likely to account for 4 per cent of GDP by 2017, says a recent report by KPMG.

The current association with SIDBI is a win-win for both the development bank and Franchise India as the availability of finance would help the latter sell more franchises, said Gaurav Marya, Chairman, Franchise India.

Israel deploys Iron Dome defence system

Prime Minister Benjamin Netanyahu on Thursday said Israel deployed its Iron Dome missile defence system to bolster its security as the West weighed military strikes on neighbouring Syria.

"We have decided to deploy Iron Dome and other interceptors," Netanyahu said, in a statement released by his office, ahead of holding security talks at the defence ministry.

The kits were first distributed during the 1991 Gulf War over Kuwait when Saddam Hussein's Iraq fired Scud missiles at Israel as the US-led coalition launched Operation Desert Storm.

Human Resources Development Min launched Right to Education anthem

Human Resources Development Minister M M Pallam Raju today launched the Right to Education, RTE, anthem to make education for children interesting and friendly.

Children will now ires in a musical form.

mbibe the RTE message from popular public figuiii. The video of the anthem features children in government schools across the country. The anthem will be dubbed in English and 15 regional languages.

It is a joint effort between Human Resource Ministry and National Film Development Corporation (NFDC) ,penned down by Javed Akhtar and sung by Sonu Nigam and Sunidhi Chauhan.

Senior Google executive (Hugo Barra )leaves

Hugo Barra, a senior executive part of the Google's Android team, has put in his papers and is joining Xiaomi, a Chinese firm that makes Android phones.

After the news of his resignation was reported by AllThingsD, Barra, who was the vice president of product management for Android, confirmed on his Google+ page that he was leaving the company.

Barra was considered to be a key executive within the Android team and his departure has started a talk that it was not a career move.

Various websites, including TechCrunch, have hinted that Barra is leaving company because of some personal issues that involve Google co-founder Sergei Brin and Amanda Rosenberg, a marketing manager who is part of Google Glass team.

Sundar Pichai, who heads Android division at Google, congratulated Barra at his new job. "Congratulations to Hugo on his exciting new adventure.

We'll miss him at Google but we're thrilled that he's sticking with Android. Best wishes Hugo," he wrote on his Google+ page.

This is not the first time a love affair between two Googlers is in news. After Larry page became the CEO there were rumours that he sidelined Marissa Mayer, who is now Yahoo CEO, because he was romantically involved with her in the past.

Bhutan’s PM to visit India from tomorrow till Sept 4

Bhutan’s Prime Minister Tshering Tobgay is to visit India from tomorrow till the 4th of September. 

This will be the maiden visit of Mr Tobgay on the invitation of Prime Minister Manmohan Singh after assuming the post of Prime Minister of Bhutan. He will be accompanied by his spouse Mrs. Tashi Doma and the Foreign Minister Rinzin Dorji and senior officals.

During the meetings with leaders, discussions on issues of mutual bilateral interests as well as Government of India’s assistance to Bhutan's 11th Plan is to be discussed.

Mr Tobgay will also travel to Hyderabad to visit lT Parks in Hitech City and meet the governor of Andhra Pradesh. T

The visit is said to be a regular exchange of high-level visits between Bhutan and India which plays a vital role in nurturing lndo-Bhutan relations.

The visit is expected to further strengthen the close ties of friendship and understanding between the two countries.

SABIC signs research deal with Indian-Australian IITB-Monash

India-Australian research academy IITB-Monash and one of Saudi Arabia's largest companies, SABIC, has signed a multi-year strategic partnership agreement to develop advanced technologies to meet the needs of various sectors.

SABIC's Executive Vice President, Technology and Innovation, Ernesto Occhiello, said—

Earlier this week, IITB-Monash and SABIC joined forces to produce graduates with highly specialised knowledge required by the advanced chemicals and polymers industry.
The partnership will allow both organisations to mutually develop advanced technologies into innovative solutions that meet global needs and demands, the company said.

PSUs to raise Rs 15,000 cr via Sovereign Wealth Funds

In an effort to boost forex inflows, the Finance Ministry has worked out a strategy for as many as 10 public sector entities to tap Sovereign Wealth Funds (SWFs) to raise at least Rs 15,000 crore in foreign currency. This will be part of a tax-free bond issue.

This is the first time that such funds have been allowed to be part of a tax-free bond issue. 

Accordingly, 12 state-owned companies, and a subsidiary of the Reserve Bank of India, the National Housing Bank, have been allowed to raise Rs 48,000 crore through tax-free bonds.

IIFCL, Indian Railway Finance Corporation, HUDCO, Rural Electrification Corporation, Power Finance Corporation, National Highway Authority of India, NTPC, NHPC and Indian Renewable Energy Development Agency, apart from National Housing Bank, have been allocated to raise between Rs 1,000 and Rs 10,000 crore each. These will tap SWFs.

Although institutions raising tax-free bonds have strong balance sheets and will not have any problem in raising money, there is also an indirect backing by the Government.

The tenure of the bonds will be 10, 15 or 20 years. The ceiling on the coupon (interest) rate will be linked to the reference government security rate.

SWFs are normally state-owned, with funds collected from budget and trade surpluses. 

The money is normally invested in real and financial assets at home and abroad. Oil-rich West Asian nations own many of the world’s largest SWFs.

A tax-free bond is an instrument where investors do not have to pay tax on interest. 

Such an instrument is normally a long-term one, and the money raised is deployed in long-term infrastructure projects.

The Finance Ministry has allowed raising Rs 48,000 crore through such bonds in the current fiscal.

DBTL Scheme extened to 235 districts

DBTL Scheme extened to 235 districts government has decided to extend the direct transfer of cash subsidy to cooking gas consumers in 235 more districts, Finance Minister P Chidambaram.
Oil ministry officials said the scheme would be extended in phases.

The scheme is extended to another 34 districts of the country on September 1 to cover 14.7 million consumers, an oil ministry statement said on Wednesday.

An aadhaar number is mandatory for availing the subsidy in these districts, it added

The "direct benefit transfer for LPG or DBTL" scheme is now covering 7.3 million cooking gas consumers in 20 districts

Brigalia Bam honored with Gandhi Peace Prize

i. Brigalia Bam, former head of South Africa’s election body, received the prestigious Mahatma Gandhi International Award for Peace and Reconciliation recognizing her commitment to democracy.

ii. am was conferred with this honor for ensuring free and fair elections since the establishment of democracy in 1994 when anti-apartheid icon Nelson Mandela was elected the country’s first democratic president.

About Mahatma Gandhi Peace Prize--

The Prize was established in 2003 to mark the centenary of Indian Opinion, a newspaper started by Mahatma Gandhi in South Africa. He began his socio-political life in the country and fought for justice, peace and reconciliation.

UK government loses parliamentary vote on Syria action

British Prime Minister David Cameron  government loses parliamentary vote on Syria action to join a looming military strike on Syria, in a move that appeared to all but rule out British involvement in such action.

In a humiliating and unexpected development, Cameron and his coalition government failed to pass a motion that would have authorised military action against Syria in principle by 285 to 272 votes.

British Prime Minister David Cameron  said he would not override the will of parliament and approve military action, saying it was clear that lawmakers did not want to see a military strike on the Syrian government to punish it for an illegal chemical weapons attack in the suburbs of Damascus last week.