Employment News 31 To 1 November 2013 Upcoming Current News For Exams
Gurdeep Singh Pall named as Skype vice president
Chandigarh-born software engineer Gurdeep Singh Pall has been named as the corporate vice president of Skype.
A popular and free international voiceover and messaging service, by Microsoft Corporation.
According to the Microsoft website, Pall has more than 20 patents (in process or approved) in networking, VoIP and collaboration areas.
He also holds a master's degree in computer science from the University of Oregon. Pall is on the board of trustees of Ashesi University, Ghana.
The first Sikh to reach the top management of Microsoft, Pall joined the company in January 1990 as a software design engineer.
Note -Pall, 46, studied in Chandigarh's St John's school before completing his engineering degree in computer science from the Birla Institute of Technology and Science (BITS), Pilani.
GAIL signs gas cooperation agreement with government of Bihar
To expand the natural gas footprint in eastern India, GAIL (India) Limited today signed a Gas Cooperation Agreement (GCA) for Natural Gas Infrastructure and City Gas Distribution with the Department of Industries, Government of Bihar.
In the presence of Shri Nitish Kumar, Hon’ble Chief Minister of Bihar, Dr. Renu Kumari Kushwaha, Hon’ble Minister for Industries, Shri A. K. Sinha, Chief Secretary, Shri B. C. Tripathi, Chairman and Managing Director, GAIL, Shri Naveen Verma, Principal Secretary, Industries, Shri Prabhat Singh Director (Marketing), GAIL, and other senior officials from Department of Industries and GAIL (India) Limited.
GAIL is constructing the 2,050 km. Haldia – Jagdishpur pipeline from transmission and distribution of natural gas, of which about 621 km. will pass through 14 districts of Bihar.
The mainline of the Haldia Jagdishpur will cover 04 districts of Bihar such as Kaimur, Rohtas, Aurangabad, Gaya and 10 districts for the spur lines. GAIL will explore the possibility of City Gas Distribution in major towns of Bihar along this pipeline route.
Kareena Kapoor honoured in the House of Commons
Bollywood actress Kareena Kapoor was honoured in the House of Commons here by an Asian ethnic weekly for her contribution to the global entertainment industry.
Leading NRI MP Rt Hon Keith Vaz, Chairman of Britain's Home Affairs Committee, presented a framed golden coloured plaque to her.
While receiving the award, Kareena said, "UK has been one of my most favoured destinations. There has always been special relation between India and the UK and over the years the bond has become stronger.
She said that her grand mother was British and her father-in-law, Nawab of Pataudi, captained Oxford cricket team.
Singapore, Hong Kong best for business: World Bank Report
Singapore and Hong Kong rank the world's best places to run a business.
Southeast Asian entrepots and finance centres topped the survey for the eighth straight year, with New Zealand, the United States and Denmark rounding out the top five, as a year ago.
Countries credited with progressing the most in the past five years include Rwanda (ranked 32), Russia (92), Ukraine (112) and the Philippines (108).
The data was based on surveys of more than 10,000 professionals, mostly people who routinely help administer or give advice on legal and regulatory issues in a country.
Sunil Mathur appointed as Siemens India CEO
RBI to permit trade in 10-year cash IRFs
India allows Bangladesh to import motorcycles by land route
RBI allows banks to pay interest at shorter intervals
NHAI plans Rs 5,000 crore tax-free bonds
First underwater link between two continents
Supreme Court refuses to pass order allowing Subrata Roy to go abroad
Gurdeep Singh Pall named as Skype vice president
Chandigarh-born software engineer Gurdeep Singh Pall has been named as the corporate vice president of Skype.
A popular and free international voiceover and messaging service, by Microsoft Corporation.
According to the Microsoft website, Pall has more than 20 patents (in process or approved) in networking, VoIP and collaboration areas.
He also holds a master's degree in computer science from the University of Oregon. Pall is on the board of trustees of Ashesi University, Ghana.
The first Sikh to reach the top management of Microsoft, Pall joined the company in January 1990 as a software design engineer.
Note -Pall, 46, studied in Chandigarh's St John's school before completing his engineering degree in computer science from the Birla Institute of Technology and Science (BITS), Pilani.
GAIL signs gas cooperation agreement with government of Bihar
To expand the natural gas footprint in eastern India, GAIL (India) Limited today signed a Gas Cooperation Agreement (GCA) for Natural Gas Infrastructure and City Gas Distribution with the Department of Industries, Government of Bihar.
In the presence of Shri Nitish Kumar, Hon’ble Chief Minister of Bihar, Dr. Renu Kumari Kushwaha, Hon’ble Minister for Industries, Shri A. K. Sinha, Chief Secretary, Shri B. C. Tripathi, Chairman and Managing Director, GAIL, Shri Naveen Verma, Principal Secretary, Industries, Shri Prabhat Singh Director (Marketing), GAIL, and other senior officials from Department of Industries and GAIL (India) Limited.
GAIL is constructing the 2,050 km. Haldia – Jagdishpur pipeline from transmission and distribution of natural gas, of which about 621 km. will pass through 14 districts of Bihar.
The mainline of the Haldia Jagdishpur will cover 04 districts of Bihar such as Kaimur, Rohtas, Aurangabad, Gaya and 10 districts for the spur lines. GAIL will explore the possibility of City Gas Distribution in major towns of Bihar along this pipeline route.
Kareena Kapoor honoured in the House of Commons
Bollywood actress Kareena Kapoor was honoured in the House of Commons here by an Asian ethnic weekly for her contribution to the global entertainment industry.
Leading NRI MP Rt Hon Keith Vaz, Chairman of Britain's Home Affairs Committee, presented a framed golden coloured plaque to her.
While receiving the award, Kareena said, "UK has been one of my most favoured destinations. There has always been special relation between India and the UK and over the years the bond has become stronger.
She said that her grand mother was British and her father-in-law, Nawab of Pataudi, captained Oxford cricket team.
Singapore, Hong Kong best for business: World Bank Report
Singapore and Hong Kong rank the world's best places to run a business.
Southeast Asian entrepots and finance centres topped the survey for the eighth straight year, with New Zealand, the United States and Denmark rounding out the top five, as a year ago.
Countries credited with progressing the most in the past five years include Rwanda (ranked 32), Russia (92), Ukraine (112) and the Philippines (108).
The data was based on surveys of more than 10,000 professionals, mostly people who routinely help administer or give advice on legal and regulatory issues in a country.
Sunil Mathur appointed as Siemens India CEO
Siemens made Sunil Mathur its new India chief executive officer (CEO) as part of its larger exercise of restructuring its business operations and manpower.
Mathur, currently the India CFO, is a company lifer working with the organisation for 25 years and will be the first Indian to take over the regional top job in the storied German company as as CEO he will take charge on November 1 and will also become MD & CEO of Siemens, the local listed flagship entity, from January 2014.
He will be replacing Armin Bruck who will relocate to Singapore taking charge as CEO of the regional office there.
Mathur, a chartered accountant by training from New Delhi's Institute of Chartered Accountants of India ( ICAI), joined the company as its internal auditor and has worked across various departments and roles - in India, Europe and even in Germany.
Last year, the company shut down its wind turbine plant in Vadodara, and, in August, Siemens India sold its postal and parcel and airport logistics technology business to a group company.
Mathur, currently the India CFO, is a company lifer working with the organisation for 25 years and will be the first Indian to take over the regional top job in the storied German company as as CEO he will take charge on November 1 and will also become MD & CEO of Siemens, the local listed flagship entity, from January 2014.
He will be replacing Armin Bruck who will relocate to Singapore taking charge as CEO of the regional office there.
Mathur, a chartered accountant by training from New Delhi's Institute of Chartered Accountants of India ( ICAI), joined the company as its internal auditor and has worked across various departments and roles - in India, Europe and even in Germany.
Last year, the company shut down its wind turbine plant in Vadodara, and, in August, Siemens India sold its postal and parcel and airport logistics technology business to a group company.
RBI to permit trade in 10-year cash IRFs
In order to develop the money and government securities markets Reserve Bank of India will permit trading in a 10-year cash delivered Interest Rate Futures (IRF) and allow credit enhancement to boost the corporate bond market.
central bank is discussing the matter with treasury heads of banks, primary dealers and stock exchanges for product design and operational modalities, and will issue guidelines with the capital market regulator by mid-November.
The product will be launched by the exchanges by December-end.
Bondholders such as banks and insurance companies, which are prescribed to hold large government securities, will use this derivative tool to increase returns and minimise risk.
At present, banks give credit enhancements in securitisation deals, while corporates depend largely on bank financing.
Those banks which have credit appetite but do not have liquidity to support will give credit enhancements.
The central bank has allowed banks to offer partial enhancement to corporate bonds, a task that banks can accomplish by providing credit and liquidity facilities to corporates.
central bank is discussing the matter with treasury heads of banks, primary dealers and stock exchanges for product design and operational modalities, and will issue guidelines with the capital market regulator by mid-November.
The product will be launched by the exchanges by December-end.
Bondholders such as banks and insurance companies, which are prescribed to hold large government securities, will use this derivative tool to increase returns and minimise risk.
At present, banks give credit enhancements in securitisation deals, while corporates depend largely on bank financing.
Those banks which have credit appetite but do not have liquidity to support will give credit enhancements.
The central bank has allowed banks to offer partial enhancement to corporate bonds, a task that banks can accomplish by providing credit and liquidity facilities to corporates.
India allows Bangladesh to import motorcycles by land route
India has allowed Bangladesh to import motorcycles through the land customs stations.
A decision to this effect was taken at the India-Bangladesh joint group of customs in Dhaka led by revenue secretary Sumit Bose and Ghulam Hussain, chairman of National Board of Revenue of Bangladesh, last week in Dhaka.
Motorcycle trade was allowed through the sea route but that pushed up costs in the local market in Bangladesh.
This was one of the key demands of Bangladesh that has been met by India and motorcycles can now be shipped from Petropole and Agartala land customs stations.
New Delhi is developing integrated check posts, state-of-art infrastructure and all regulatory agencies under one roof at Agartala, Petropole and Dawki to be inaugurated in November 2013, 2014 and 2015.
There are 53 land customs stations between Bangladesh and India. Both sides have identified 16 out of them as of 'high bi-lateral importance' to upgrade infrastructure.
The meeting also agreed to allow cross border entry of trucks up to the land custom station for discharge of cargo and return.
A decision to this effect was taken at the India-Bangladesh joint group of customs in Dhaka led by revenue secretary Sumit Bose and Ghulam Hussain, chairman of National Board of Revenue of Bangladesh, last week in Dhaka.
Motorcycle trade was allowed through the sea route but that pushed up costs in the local market in Bangladesh.
This was one of the key demands of Bangladesh that has been met by India and motorcycles can now be shipped from Petropole and Agartala land customs stations.
New Delhi is developing integrated check posts, state-of-art infrastructure and all regulatory agencies under one roof at Agartala, Petropole and Dawki to be inaugurated in November 2013, 2014 and 2015.
There are 53 land customs stations between Bangladesh and India. Both sides have identified 16 out of them as of 'high bi-lateral importance' to upgrade infrastructure.
The meeting also agreed to allow cross border entry of trucks up to the land custom station for discharge of cargo and return.
RBI allows banks to pay interest at shorter intervals
Reserve Bank today allowing banks to revise the periodicity of interest payments.
It will effect the Savings bank account and term deposit holders can now earn interest at shorter intervals.
RBI had said a uniform rate will have to be offered on deposits of up to Rs 1 lakh. On higher amounts, banks are allowed to offer differential rates to depositors.
The savings deposit rate for most banks is 4 per cent per annum, while in some cases, it is as high as 7 per cent. The interest rate on savings bank accounts is calculated on a daily basis.
Term deposit rates are 8-9 per cent for tenures of one year and above.
It will effect the Savings bank account and term deposit holders can now earn interest at shorter intervals.
RBI had said a uniform rate will have to be offered on deposits of up to Rs 1 lakh. On higher amounts, banks are allowed to offer differential rates to depositors.
The savings deposit rate for most banks is 4 per cent per annum, while in some cases, it is as high as 7 per cent. The interest rate on savings bank accounts is calculated on a daily basis.
Term deposit rates are 8-9 per cent for tenures of one year and above.
NHAI plans Rs 5,000 crore tax-free bonds
National Highways Authority of India plans to launch a tax-free bonds issue to mop up about Rs 5,000 crore by last year.
The highways authority, or NHAI, which is responsible for all the national highways in the country, has already notified top merchant bankers and roped in rating agencies Crisil, Care and Brickwork Ratings India for the proposed issue. Delhi-based M V Kini & Co will be its legal advisor.
An NHAI official said the money raised will be used for future investment needs as the agency currently has some Rs 4,000 crore of cash in its books.
We do not need funds immediately for two reasons: we still have some cash in hand and execution work on several projects — some 11-12 of them — is yet to take off due to economic slowdown," the official said.
The highways authority, or NHAI, which is responsible for all the national highways in the country, has already notified top merchant bankers and roped in rating agencies Crisil, Care and Brickwork Ratings India for the proposed issue. Delhi-based M V Kini & Co will be its legal advisor.
An NHAI official said the money raised will be used for future investment needs as the agency currently has some Rs 4,000 crore of cash in its books.
We do not need funds immediately for two reasons: we still have some cash in hand and execution work on several projects — some 11-12 of them — is yet to take off due to economic slowdown," the official said.
First underwater link between two continents
Turkey unveiled a three-billion-euro rail tunnel under the Bosphorus connecting Istanbul's European and Asian sides on October 29, 2013.
The tunnel is one of several mega projects driven by the Islamic-rooted government in the country's main gateway city.
The idea was first floated by Ottoman sultan Abdoul Medjid in 1860 but technical equipment at the time was not good enough to take the project further.
However the desire to build an undersea tunnel grew stronger in the 1980s and studies also showed that such a tunnel would be feasible and cost-effective.
Prime Minister Recep Tayyip Erdogan, a former mayor of Istanbul, revived the plan in 2004 as one of his mega construction projects.
Japan's Prime Minister Shinzo Abe will be present at the official opening, as the Japan Bank for International Cooperation was the main financer contributing 735 million euros ($1 billion) to the project.
The 13.6-kilometre (8.5 miles) tunnel includes an immersed tube tunnel which government officials say is the world's deepest at 60 metres (nearly 200 feet) below the seabed.
The tunnel is part of a larger 'Marmaray' project that also includes an upgrade of existing suburban train lines to create a 76-kilometre (47-mile) line that links the two continents.
The tunnel is one of several mega projects driven by the Islamic-rooted government in the country's main gateway city.
The idea was first floated by Ottoman sultan Abdoul Medjid in 1860 but technical equipment at the time was not good enough to take the project further.
However the desire to build an undersea tunnel grew stronger in the 1980s and studies also showed that such a tunnel would be feasible and cost-effective.
Prime Minister Recep Tayyip Erdogan, a former mayor of Istanbul, revived the plan in 2004 as one of his mega construction projects.
Japan's Prime Minister Shinzo Abe will be present at the official opening, as the Japan Bank for International Cooperation was the main financer contributing 735 million euros ($1 billion) to the project.
The 13.6-kilometre (8.5 miles) tunnel includes an immersed tube tunnel which government officials say is the world's deepest at 60 metres (nearly 200 feet) below the seabed.
The tunnel is part of a larger 'Marmaray' project that also includes an upgrade of existing suburban train lines to create a 76-kilometre (47-mile) line that links the two continents.
Supreme Court refuses to pass order allowing Subrata Roy to go abroad
Supreme Court today refused to pass any interim order for allowing Sahara chief Subrata Roy to go abroad before his group files a review petition seeking to modify the court's earlier order restraining him from leaving country by the bench of A bench of justices K S Radhakrishnan and A K Sikri.
Sahara had yesterday moved the apex court claiming that there was a mistake in its October 28 order restraining Roy from leaving the country till it hands over title deeds of its properties worth Rs 20,000 crore to SEBI.
The court was hearing three contempt petitions filed by SEBI against Roy, the two firms--Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC)--and their directors.
Last year SC directed the Sahara Group to refund Rs 24,000 crore by November enD
Sahara had yesterday moved the apex court claiming that there was a mistake in its October 28 order restraining Roy from leaving the country till it hands over title deeds of its properties worth Rs 20,000 crore to SEBI.
The court was hearing three contempt petitions filed by SEBI against Roy, the two firms--Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC)--and their directors.
Last year SC directed the Sahara Group to refund Rs 24,000 crore by November enD
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