Employment News 9 October 2013
Peter Higgs & Francois Englert win Nobel Physics Prize
Mulatu, 57, who was Ethiopia's ambassador to Turkey until his appointment, replaces 88-year old Girma Wolde Giorgis, who first took the post in 2001 and was reelected in 2007.
Mulatu, who like all Ethiopia is known by his first name, comes from the Oromo people, the country's largest ethnic group. He has also served as Ethiopia's ambassador to China and Japan as well as Ethiopia's Minister of Agriculture.
Google may launch Gem smartwatch this October
Google may launch a smartwatch called Gem this month to coincide with the release of its latest operating system, Android 4.4 Kit Kat.
The watch is a part of the Nexus brand and will be announced on October 31,
even though Google’s other new gizmo, the Glass, is yet to appear on the market.
Google had published a smartwatch patent that detailed a watch with a user interface similar to Google Glass and featuring two touchpads on its wristband that can understand gestures such as pinching or stretching, just like Glass’ single pad.
PSU banks cut rates for retail loans
finance ministry have prompted public sector banks to lower interest rates for consumer durables and automobile loans in a bid to push sales during the festival season and revive demand in a faltering economy.
On Tuesday, Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and IDBI Bank announced special offers for auto and consumer durable loans, which will marginally reduce EMI burden.
The SBI said it will follow suit but ruled out a reduction in home loan rates.
But IDBI Bank went a step ahead and has reduced the cost of housing finance too.
The Australia Group, an informal forum of countries which seeks to ensure that exports do not contribute to the development of chemical and biological weapons, has 42 members.
Belgium and Turkey are members of all the groups.
Obama to nominate Janet Yellen as chairman of the US central bank
President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the US central bank.
Yellen was born in Brooklyn and graduated from Brown University in 1967 with highest honors in economics. She received her doctorate in economics in 1971 from Yale, where she studied under the Nobel Prize-winning economist James Tobin. In a 1997 interview with Business Week magazine, Tobin described Yellen as having "a genius for expressing complicated arguments simply and clearly.
She was an assistant professor at Harvard University from 1971 to 1976 and then worked as an economist at the Federal Reserve in Washington from 1977 to 1978. She met her husband, George Akerlof, in a Fed cafeteria.
The two worked together for many years on the Berkeley faculty. Akerlof shared a Nobel in economics in 2001 with Joseph E. Stiglitz and A. Michael Spence.
Both Yellen and Bernanke are scheduled to appear with Obama at the White House on Wednesday for a formal announcement.
Bernanke's term ends in January, completing a remarkable eight-year tenure in which he helped pull the US economy out of the worst financial crisis and recession since the 1930's.
Under Bernanke's leadership, the Fed created extraordinary programs after the financial crisis erupted in 2008. It lent money to banks after credit markets froze, cut its key short-term interest rate to near zero and bought trillions in bonds to lower long-term borrowing rates.
Yellen emerged as the leading candidate after Lawrence Summers, a former Treasury secretary whom Obama was thought to favor, withdrew from consideration last month in the face of rising opposition.
Yellen would be the first Democrat chosen to lead the Fed since Paul Volcker was picked by Jimmy Carter in 1979. Bernanke, who served for eight years, and his predecessor, Alan Greenspan, who did so for 18{ years, were Republicans.
She would also be the first vice chair of the Fed to ascend to the chairmanship.
Yellen served as a Fed board member for three years in the 1990s before leaving to head the Council of Economic Advisers in the Clinton administration.
She also served for six years as president of the Fed's regional bank in San Francisco before Obama chose her in 2010 for the No. 2 spot on the Fed's seven-member board in Washington.
The apex court directed the authorities to compile the number of vacancies in all their departments to give jobs to disabled persons under three percent reserved quota within three months.
A bench headed by Chief Justice P Sathasivam also clarified that the principle of not exceeding more than 50 per cent reservation would not be applicable while granting quota for disabled persons.
Apple Inc intends to introduce its latest line-up of iPads on October 22 which will go up against Amazon.com Inc's latest Kindle Fire tablets and other gadgets made by Samsung Electronics, are expected to feature lighter, thinner designs and more powerful processors.
Amazon's new 7-inch Kindle Fire is priced from $229 for 16GB wifi-only models, while Google Inc's second-generation Nexus 7 offers a similar screen size and storage capacity at 250$.
Note-- Apple's current 7.9-inch iPad Mini lineup with 16GB of storage starts at $329.
The Supreme Court on Tuesday allowed N Srinivasan to take charge as BCCI President.
SC sets up probe panel headed by former CJ of Punjab and Haryana HC Mukul Mudgal to inquire into allegation of betting and spot fixing in IPL.
Supreme Court has asked the probe panel to complete its inquiry preferably within four months.
Peter Higgs & Francois Englert win Nobel Physics Prize
Peter Higgs of Britain and Francois Englert of Belgium
won the Nobel Physics Prize today for the discovery of the "God particle".
The pair were honoured for "the theoretical
discovery of a mechanism that contributes to our understanding of the origin of
mass of subatomic particles. This was recently confirmed through the discovery
of the predicted fundamental particle," the jury said.
The pair were honoured for "the theoretical
discovery of a mechanism that contributes to our understanding of the origin of
mass of subatomic particles. This was recently confirmed through the discovery
of the predicted fundamental particle," the jury said
Ian Chappell snubs BCCI, won’t do commentary on India-Aus
series
Ian Chappell, the former Australia captain, has proved an
exception. In an era of BCCI’s ‘paid commentary’ policy, listening to Chappell
providing insight into the game would have been a welcome relief. However, fans
will not be able to hear the man, who refused to accept BCCI’s strict dos and
don’ts for the commentators.
Chappell, who once didn’t even hesitate to take on Don
Bradman when the latter was the Australia board chief, declined the offer from
host broadcaster ESPN for commentating in the series, refusing to accept BCCI’s
terms and conditions.
“I was invited by ESPN to do commentary.
I emailed back
asking who I was working for and the reply was; I was contracted by ESPN but I
would be subject to BCCI restrictions,” Chappell told HT in an e-mail interaction.
Australia will play seven ODIs and a T20 in India. The
tour starts with a one-off T20 tie in Rajkot on October 10, followed by the
ODIs.
Mulatu Teshome new president of
Ethiopia
Ethiopia's parliament elected Mulatu Teshome to be the
country's new president on Monday, for a six-year term in a largely symbolic
and ceremonial post.
Following the opening of the new parliament, a joint
session of the House of Representatives and House of Federation elected
Ambassador Dr Mulatu Teshome as the President of Ethiopia," the foreign
ministry said in a statement.
Mulatu, 57, who was Ethiopia's ambassador to Turkey until his appointment, replaces 88-year old Girma Wolde Giorgis, who first took the post in 2001 and was reelected in 2007.
Mulatu, who like all Ethiopia is known by his first name, comes from the Oromo people, the country's largest ethnic group. He has also served as Ethiopia's ambassador to China and Japan as well as Ethiopia's Minister of Agriculture.
Google may launch Gem smartwatch this October
Google may launch a smartwatch called Gem this month to coincide with the release of its latest operating system, Android 4.4 Kit Kat.
The watch is a part of the Nexus brand and will be announced on October 31,
even though Google’s other new gizmo, the Glass, is yet to appear on the market.
Google had published a smartwatch patent that detailed a watch with a user interface similar to Google Glass and featuring two touchpads on its wristband that can understand gestures such as pinching or stretching, just like Glass’ single pad.
The Indian Air Force Day Celebrated
Across India
The Indian Air Force Day is celebrated on 8 October 2013.
It is the 81st anniversary of the Indian Air Force.
On this day, various celebrations are organised across the country along with parades at the airbases all over India.
It is the 81st anniversary of the Indian Air Force.
On this day, various celebrations are organised across the country along with parades at the airbases all over India.
PSU banks cut rates for retail loans
finance ministry have prompted public sector banks to lower interest rates for consumer durables and automobile loans in a bid to push sales during the festival season and revive demand in a faltering economy.
On Tuesday, Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and IDBI Bank announced special offers for auto and consumer durable loans, which will marginally reduce EMI burden.
The SBI said it will follow suit but ruled out a reduction in home loan rates.
But IDBI Bank went a step ahead and has reduced the cost of housing finance too.
Turkey extends support for India's full
membership in NSG
Turkey has assured India of backing its bid for full
membership of the Nuclear Suppliers Group (NSG) and would take up the issue
with other members of the 47-nation grouping, President Pranab Mukherjee said
on Tuesday.
Returning from his two nation visit of Belgium and
Turkey, Mukherjee, who had flagged the issue during his talks with leaders of
both countries.
In the recent past, Turkey has made it clear that it
does not object to India's quest for membership in the NSG but would like to
see it joining the Nuclear Non-Proliferation Treaty (NPT), a prerequisite for
being part of the NSG.
In the first leg of his visit, the President had
acknowledged Belgium's "upfront support" for creating an exception
for India in NSG and had suggested that a clear public stand favouring India's
effort for becoming permanent member of four Arms Control regimes
The NSG has 47 members, MTCR has 34 countries as its
members, Wassenaar Arrangement, an order which is for the promotion of regional
security, international security and stability by offering transparency and
greater responsibility in transfers of conventional arms, dual-use goods and
technologies, has 41 members.
The Australia Group, an informal forum of countries which seeks to ensure that exports do not contribute to the development of chemical and biological weapons, has 42 members.
Belgium and Turkey are members of all the groups.
Obama to nominate Janet Yellen as chairman of the US central bank
President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the US central bank.
Yellen was born in Brooklyn and graduated from Brown University in 1967 with highest honors in economics. She received her doctorate in economics in 1971 from Yale, where she studied under the Nobel Prize-winning economist James Tobin. In a 1997 interview with Business Week magazine, Tobin described Yellen as having "a genius for expressing complicated arguments simply and clearly.
She was an assistant professor at Harvard University from 1971 to 1976 and then worked as an economist at the Federal Reserve in Washington from 1977 to 1978. She met her husband, George Akerlof, in a Fed cafeteria.
The two worked together for many years on the Berkeley faculty. Akerlof shared a Nobel in economics in 2001 with Joseph E. Stiglitz and A. Michael Spence.
Both Yellen and Bernanke are scheduled to appear with Obama at the White House on Wednesday for a formal announcement.
Bernanke's term ends in January, completing a remarkable eight-year tenure in which he helped pull the US economy out of the worst financial crisis and recession since the 1930's.
Under Bernanke's leadership, the Fed created extraordinary programs after the financial crisis erupted in 2008. It lent money to banks after credit markets froze, cut its key short-term interest rate to near zero and bought trillions in bonds to lower long-term borrowing rates.
Yellen emerged as the leading candidate after Lawrence Summers, a former Treasury secretary whom Obama was thought to favor, withdrew from consideration last month in the face of rising opposition.
Yellen would be the first Democrat chosen to lead the Fed since Paul Volcker was picked by Jimmy Carter in 1979. Bernanke, who served for eight years, and his predecessor, Alan Greenspan, who did so for 18{ years, were Republicans.
She would also be the first vice chair of the Fed to ascend to the chairmanship.
Yellen served as a Fed board member for three years in the 1990s before leaving to head the Council of Economic Advisers in the Clinton administration.
She also served for six years as president of the Fed's regional bank in San Francisco before Obama chose her in 2010 for the No. 2 spot on the Fed's seven-member board in Washington.
SC directs 3% reservation for disabled
in all govt institutions
Supreme Court has directed Central and the state
governments to provide three percent jobs to the disabled.
In its landmark order the apex court has asked the
centre and states to implement reservation for disabled within three months ina
ll government departments, companies and institutions
The apex court directed the authorities to compile the number of vacancies in all their departments to give jobs to disabled persons under three percent reserved quota within three months.
A bench headed by Chief Justice P Sathasivam also clarified that the principle of not exceeding more than 50 per cent reservation would not be applicable while granting quota for disabled persons.
Apple Inc intends to introduce its latest line-up of iPads on October 22 which will go up against Amazon.com Inc's latest Kindle Fire tablets and other gadgets made by Samsung Electronics, are expected to feature lighter, thinner designs and more powerful processors.
Amazon's new 7-inch Kindle Fire is priced from $229 for 16GB wifi-only models, while Google Inc's second-generation Nexus 7 offers a similar screen size and storage capacity at 250$.
Note-- Apple's current 7.9-inch iPad Mini lineup with 16GB of storage starts at $329.
SC allows Srinivasan to take charge as
BCCI President
The Supreme Court on Tuesday allowed N Srinivasan to take charge as BCCI President.
SC sets up probe panel headed by former CJ of Punjab and Haryana HC Mukul Mudgal to inquire into allegation of betting and spot fixing in IPL.
Supreme Court has asked the probe panel to complete its inquiry preferably within four months.
Supreme Court has also said that the committee will
investigate G Meiyappan and owners of Rajasthan Royals and file report on
erring IPL franchisees.
Yahoo's email becomes more like Gmail in redesign
Yahoo's redesigned email unveiled Tuesday includes a Gmail-like tool that will thread together emails related to specific topics so they appear as a succession of messages.
The "conversation view" has become a widely used email feature since Gmail helped popularize the concept after it embraced the format in 2004.
Users can turn off Yahoo's new conversational tool if they want.
Another new feature will enable Yahoo's email users to decorate their inboxes with a selection of scenic pictures plucked from the company's photo-sharing service, Flickr. Gmail has been allowing its users to spruce up their inboxes with various themes for years.
Apax buys GlobalLogic for $420m
Private equity giant Apax Partners has acquired GlobalLogic, an IT outsourcing firm founded by four IITians, for $420 million (Rs 2,578 crore), making it the biggest India exit deal for a clutch of venture capitalists this year.
Apax has struck the second big deal connected to India's $108 billion outsourcing industry. Two years ago, it backed iGate Corp to buyout Patni Computer for $1.2 billion.
GlobalLogic, founded by Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay, competes with Symphony Technology and Persistent Systems in the outsourced product development or research and development space.
Founded in 2001, as IndusLogic, and later renamed as GlobalLogic, the outsourcing firm reported around $250 million is sales and may have got a valuation of more than ten times its operating profit, a key metric while valuing a company.
Yahoo's email becomes more like Gmail in redesign
Yahoo's redesigned email unveiled Tuesday includes a Gmail-like tool that will thread together emails related to specific topics so they appear as a succession of messages.
The "conversation view" has become a widely used email feature since Gmail helped popularize the concept after it embraced the format in 2004.
Users can turn off Yahoo's new conversational tool if they want.
Another new feature will enable Yahoo's email users to decorate their inboxes with a selection of scenic pictures plucked from the company's photo-sharing service, Flickr. Gmail has been allowing its users to spruce up their inboxes with various themes for years.
Apax buys GlobalLogic for $420m
Private equity giant Apax Partners has acquired GlobalLogic, an IT outsourcing firm founded by four IITians, for $420 million (Rs 2,578 crore), making it the biggest India exit deal for a clutch of venture capitalists this year.
Apax has struck the second big deal connected to India's $108 billion outsourcing industry. Two years ago, it backed iGate Corp to buyout Patni Computer for $1.2 billion.
GlobalLogic, founded by Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay, competes with Symphony Technology and Persistent Systems in the outsourced product development or research and development space.
Founded in 2001, as IndusLogic, and later renamed as GlobalLogic, the outsourcing firm reported around $250 million is sales and may have got a valuation of more than ten times its operating profit, a key metric while valuing a company.
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