15th Dec- 16th Dec 2014

HDFC Bank launched mobile banking facility Bank Aap Ki Muththi Mein

16-DEC-2014

  • HDFC Bank on 16 December 2014 launched mobile banking facility Bank Aap Ki Muththi Mein. An initiative which turns a mobile phone into a bank branch.
  • The facility will offer over 75 transactions.These are both financial and non-financial transactions that one needs in their daily life.
  • It is by far the largest offering of its kind by any bank in India.
  • Banking facility will work on both a smartphone as well as a basic phone that supports internet browsing. For phones that do not support internet browsing, there is SMS-banking and missed-call banking. It is technology agnostic and will run on all mobile devices' popular technology platforms.
  • All that a customer needs to do is send a text to or call a toll free number to know his account balance, get a mini statement, request a check book or detailed account statement. 
    The initiative is a part of the bank's digital banking offering christened GoDigital.

Union Government banned terror group ISIS in India

16-DEC-2014

  • The Union Government on 16 December 2014 banned Islamic State of Iraq and Syria (ISIS) under Unlawful Activities (Prevention) Act. The action came few days after an engineer was detained for running a popular Twitter account that praised the militant group’s military campaign.

    The aim of the ban is to limit the activities of the West Asia group which has carved out swathes of territory in Iraq and Syria.

  • The detained techie Mehdi Masoor Biswas was working for a food company from the southern tech hub of Bengaluru. He was running the pro-Islamic State Twitter handle @ShamiWitness that had 17800 followers. He was picked up by police on 13 December 2014

    Why the group was not banned till date?
    Earlier, India didn’t issue a ban on the group due to lack of its activity in India. Also because India considered that the fate of 39 Indian construction workers who are missing in Iraq lies in the hands of the group. It is believed that these Indians are held by ISIS.

Bharti Airtel sold over 1100 mobile towers in Zambia, Rwanda to IHS

16-DEC-2014

  • Bharti Airtel on 15 December 2014 sold over 1100 telecom towers in Zambia and Rwanda to IHS Holding. The amount was not disclosed by the company.
  • American Tower and Airtel are expected to close the deal during the first half of 2015, subject to regulatory approvals. According to reports, American Towers values the deal at around 1.05 billion US dolla.
  • This is fourth such deal since July 2014 in the African market. The deal is a part of the 10-year renewable contract, Bharti Airtel will lease back the towers from IHS.
  • Bharti Airtel entered Africa in 2010 with the acquisition of Zain Telecom for about 10.7 billion US dollar.
  • In November 2014, Bharti sold 4800 communication towers to American Tower Corporation in Nigeria in an effort to cut debt.
  • Also, in September 2014, Bharti sold its African telecom tower assets to Eaton Towers. The company signed a 10-year contract to sell and lease back over 3500 towers to Eaton in six countries.

Hinduja Group acquired iconic Old War Office Building of Winston Churchill

16-DEC-2014

  • Hinduja Brothers, Srichand and Gopichand Hinduja, in the second week of December 2014 acquired the iconic old war office building of Winston Churchill. The building will be restored and redeveloped into a five-star hotel and residential apartments.
    The Hinduja acquired the 580000 square-feet landmark at 57 Whitehall in Central London in partnership with a Spanish industrial company Obrascon Huarte Lain Desarrollos (OHLD). The building was sold on a 250-year lease arrangement for an undisclosed amount.
  • The decision to sell the building was taken by the Ministry of Defence in order to invest in defence priorities.  It was put up for sale after being declared surplus to MoD requirements in August 2013.
    The building has more than 1000 rooms and two-and-a-half miles of corridors and had escaped largely unscathed even after being bombed eight times during World War II. The building stands diagonally opposite to Prime Minister David Cameron's official residence 10 Downing Street. 
    About the Old War building 
    The Old War Office Building’s was designed in Edwardian Baroque style (a style which paid homage to Renaissance architecture), by William Young and completed after his death by his son, Clyde Young, assisted by Sir John Taylor. 
    The work of construction of the building started in 1901 and it took five years to complete it. It was developed at an expenditure of over 1.2 million Pound (expensive for the time).
  • The building was constructed for the Imperial General Staff and was central to operations. It remained a focal point for military planning throughout the major conflicts of the 20th century. The Old War Office housed secretaries of state like Lord Haldane, Lord Kitchener, David Lloyd-George and Churchill.

Co-optex launched its e-Commerce Portal

16-DEC-2014

  • The Tamil Nadu Handloom Weavers Cooperative Society (Co-optex) on 15 December 2014 launched its online shopping portal offering a range of silk and cotton sarees.
  • The portal was launched by Tamil Nadu Handloom Minister S Gokula Indira in Chennai. By launching its e-commerce portal, Co-optex hopes to tap the growing business potential.
    Co-optex also launched a gift voucher scheme that includes the gift vouchers of 500 rupees, 1000 rupees and 2000 rupees. These coupons can be redeemed in any of the outlets in the country within 90 days. The coupons also allow discounts.
    Tamil Nadu Handloom Weavers Cooperative Society (Co-optex)
    • Established in 1935, Tamil Nadu Handloom Weavers′ Co-operative Society has a rich tradition in Handloom History of about 78 years.   
    • The handloom fabrics produced in Tamil Nadu by the Co-optex are marketed all over India. Co-optex has a network of 203 showrooms spread all over India.
    • Each product of Co-optex displays the artistry and craftsmanship of weavers from Tamil Nadu.

Japanese Prime Minister Shinzo re-elected for another four year term

16-DEC-2014

  • Japanese Prime Minister Shinzo Abe on 14 December 2014 was re-elected for another four-year term. He was re-elected after Japan's ruling coalition (Liberal Democratic Party and Komeito) won a two thirds majority in the Snap elections held for the Lower House (House of Representatives) of the Bicameral legislature, the National Diet.
    Snap elections were called by Abe to secure support for his Abenomics, which is a blend of aggressive monetary easing, public spending and economic reforms. 
    The elections saw the voter turnout at 52.7 percent, which was a post-World War II record low. The turn-out was also down nearly 7 percentage points from the previous lower house election in 2012.
  • Snap elections Result 
    Abe’s party Liberal Democratic Party (LDP) won 290 seats and its coalition partner Komeito won 35 seats together garnering a total of 325 seats out of 475 seat of Lower House. 
    While, the largest opposition group, the Democratic Party of Japan (DPJ), won 73 seats, which is 11 more than its pre-election strength of 62. But DPJ President
  • The Japan Communist Party nearly tripled its seats to 21, while another opposition party, the Innovation Party, took 41 seats.
  • Comment
    A two thirds majority in the Lower House will allow the re-enactment of bills rejected by the Upper House. Apart from this, the two-third majority in the Lower House will allow the ruling party to propose amendment of Constitution.

Carnival Cinemas Limited acquired Media Works Limited for 710 crore rupees

16-DEC-2014

  • Carnival Cinemas Limited on 15 December 2014 acquired Anil Ambani led Media Works limited for 710 crore rupees.
  • As per the deal, Carnival agreed to acquire 100% stake in multiplex operator Big Cinemas, a division of Reliance Media Works Ltd.
  • Reliance Media Works Ltd (RMW) is a part of Reliance Capital of Reliance group.
  • With the addition of 242 screens of Big Cinemas, Carnival is now within the top 3 film exhibition companies with over 300 screens nationwide.
  • Other two companies are PVR Cinemas and Inox. India currently has 1700 multiplex screens with PVR in pole position with 454 screens, followed by Inox at 361 screens.
  • The deal will enable Reliance Capital to reduce its debt by 700 crore rupees through a combination of transfer of debt of RMW and infusion of cash proceeds.

Six new ministers inducted in Telangana State Cabinet

16-DEC-2014

  • Six new ministers were on 16 December 2014 inducted into Telangana State cabinet by Chief Minister K Chandrasekhara Rao. The ministers took the oath of office and secrecy at the Raj Bhavan in Hyderabad.
  • Before the induction of the new batch of ministers, there were 12 cabinet ministers in Telangana cabinet. Now, the total strength of the cabinet is 18, which is also the maximum permissible cabinet size in Telangana.
  • Moreover, the Chief Minister also revived the posts of Parliamentary Secretaries to accommodate a number of aspirants.
    List of the ministers
    1. Thummala Nageswara Rao (Former MLA of Khammam)
    2. Charlakola Lakshma Reddy (MLA from Jadcherala constituency, Mahabubnagar district)
    3. Azmeera Chandulal (MLA from Mulugu, Warangal district))           
    4. Jupally Krishna Rao (MLA from Kollapur,Mahabubnagar district)) 
    5. Allola Indrakaran Reddy (MLA from Nirmal, Adilabad district))        
    6. Talasani Srinivas Yadav (MLA representing Sanathnagar, Rangareddy)  

    The Constitution (Ninety-First Amendment) Act, 2003
    As per the Article 164 (1A) of the Indian Constitution, the total number of Ministers including the Chief Minister in the State Council of Ministers shall not exceed fifteen percent of the total number of Members of the Legislative Assembly (MLA).

    The Article also provides that the number of Ministers including Chief Minister in a State shall not be less than twelve.

14th Finance Commission submitted its report to President

16-DEC-2014

  • The 14th Finance Commission headed by former RBI Governor YV Reddy submitted its report to the President of India on 15 December 2014. The report was submitted by A N Jha, Secretary of the Finance Commission to Omita Paul, Secretary to the President of India. 
    The panel has given its views on the devolution of tax receipts from the Centre to the States between 1 April 2015 and 31 March 2020. 
    Report submitted by the Commission will be a key input in the preparation of the Union Budget 2015-16.
  • About the 14th Finance Commission
  • The 14th Finance Commission was appointed on 2 January 2013 under the chairmanship of YV Reddy and was asked to submit its report by 31 October 2014. Further on 31 October 2014, the President of India issued order for extension of time for the 14th Finance Commission by two months (till 31 December 2014).
  • President issued an order extending the term of the commission after it sought an extension of two months for submission of its report to examine financialprojections and carry out consultations with the Andhra Pradesh and Telangana governments in view of the additional term of reference made to it on 2 June 2014.
  • The panel was also asked to look into the Goods and Services Tax.
  • Terms of Reference of 14th Finance Commission
  • • The resources of the Central Government, for five years commencing on 1 April 2015, on the basis of levels of taxation and non-tax revenues likely to be reached during 2014-2015
  • • The demands on the resources of the Central Government, in particular, on account of the expenditure on civil administration, defence, internal and border security, debt-servicing and other committed expenditure and liabilities
  • • The resources of the State Governments and the demands on such resources under different heads, including the impact of debt levels on resource availability in debt stressed states, for the five years commencing on 1 April 2015, on the basis of levels of taxation and non-tax revenues likely to be reached during 2014-15
  • • The objective of not only balancing the receipts and expenditure on revenue account of all the States and the Union, but also generating surpluses for capital investment
  • • Tie taxation efforts of the Central Government and each State Government and the potential for additional resource mobilisation to improve the tax Gross Domestic Product ratio in the case of Union and tax-Gross State Domestic Product ratio in the case of the States
    • The level of subsidies that is required, having regard to the need for sustainable and inclusive growth, and equitable sharing of subsidies between the Central Government and State Governments
    • The expenditure on the non-salary component of maintenance and upkeep of capital assets and the non-wage related maintenance expenditure on plan schemes to be completed by 31st March, 2015 and the norms on the basis of which specific amounts are recommended for the maintenance of the capital assets and the manner of monitoring such expenditure
    • The need for insulating the pricing of public utility services like drinking water, irrigation, power and public transport from policy fluctuations through statutory provisions
    • The need for making the public sector enterprises competitive and market oriented; listing and disinvestment; and relinquishing of non-priority enterprises
    • The need to balance management of ecology, environment and climate change consistent with sustainable economic development
    • The impact of the proposed Goods and Services Tax on the finances of Centre and States and the mechanism for compensation in case of any revenue loss.
  • The Finance Commission of India is constituted by the President under Article 280 of the Constitution of India. The commission is constituted to define the financial relations between the centre and the state.
    As per the Constitution, the commission is appointed every five years and consists of a chairman and four other members. 
    • 1st Finance Commission of India constituted in 1951 was chaired by K.C. Neogy. Its plan was operational during 1952–57. 
    • 13th Finance Commission constituted in 2007 was chaired by Dr. Vijay L. Kelkar, Former Union Finance Secretary and Adviser to the Finance Minister. Its plan was operational during 2010–2015.

Global Financial Integrity released the Global Illicit Financial Flows Report 2014

16-DEC-2014

  • The Global Financial Integrity (GFI) on 15 December 2014 released the Global Illicit Financial Flows Report 2014 titled Illicit Financial Flows from the Developing World: 2003-2012.
  • The report finds that the developing world lost 6.6 trillion US dollars in illicit financial flows from 2003-2012.
    Highlights of the report
    Illicit outflows are alarmingly increasing at an average rate of 9.4 percent per year. 991.2 billion US dollars flowed illicitly out of developing and emerging economies in 2012. The illegal capital outflows originate from crime, corruption, tax evasion and other illicit activity.
    Asia continues to be the region of the developing world with the greatest volume of illicit financial flows, comprising 40.3 percent. It is followed by Developing Europe at 21.0 percent, the Western Hemisphere at 19.9 percent, MENA (the Middle East and North Africa) at 10.8 percent, and Sub-Saharan Africa at 8.0 percent.
    MENA region saw the largest percent increase in illicit outflows from 2003 to 2012 at 24.2 percent per annum. Sub-Saharan Africa followed at 13.2 percent with Developing Europe at 9.8 percent, Asia at 9.5 percent, and the Western Hemisphere at 3.5 percent.
    The top five exporters of illicit capital over the past ten years on average are: China, Russia, Mexico, India, and Malaysia.
    Top 10 Country Rankings in terms of Largest Average Annual Illicit Outflows (2003-2012)

Rank

Country

1

China

2

Russian Federation

3

Mexico

4

India

5

Malaysia

6

Saudi Arabia

7

Brazil

8

Indonesia

9

Thailand

10

Nigeria
  • Recommendations on curbing the opacity in the global financial system
  • GFI recommended that world leaders should focus on curbing the opacity in the global financial system comprising of tax haven secrecy, anonymous companies and money laundering techniques that facilitates these outflows. Its recommendations are:
  • • Governments should establish public registries of meaningful beneficial ownership information on all legal entities.
  • • Government authorities should adopt and fully implement all of the Financial Action Task Force’s (FATF) anti-money laundering recommendations.
  • • Trade transactions involving tax haven jurisdictions should be treated with the highest level of scrutiny by customs, tax, and law enforcement officials.
  • • Governments should significantly boost their customs enforcement by equipping and training officers to better detect intentional misinvoicing of trade transactions.
  • • All countries should publicly disclose their revenues, profits, losses, sales, taxes paid, subsidiaries, and staff levels on a country-by-country basis as a means of detecting and deterring tax avoidance practices

Union Government appointed Dineshwar Sharma as Director of Intelligence Bureau

16-DEC-2014

  • Dineshwar Sharma was appointed as Director of the Intelligence Bureau (IB) by the Appointment Committee of Cabinet (ACC) headed by Prime Minister Narendra Modi on 13 December 2014. He will take charge of the office from 1 January 2015 and will have two-year tenure. 
    Sharma will succeed Syed Asif Ibrahim who will retire on 31 December 2014. However, before taking charge of Director of IB, Sharma will first serve as Officer on Special Duty (OSD) with immediate effect.

  • Dineshwar Sharma is a 1979 batch IPS officer from Kerala cadre and was serving as Special Director in the Intelligence Bureau before this appointment.

    Ibrahim, a 1977 batch IPS officer from Madhya Pradesh cadre, was the first Muslim to be appointed as Director of IB and had taken over from Nehchal Sandhu.

ICC upgraded the status of Palestine to Observer State

16-DEC-2014

  • International Criminal Court (ICC) on 8 December 2014 upgraded the status of Palestine to Observer State. The acceptance of Palestine as an Observer State came in a procedural move at the opening session of the Assembly of States Parties to the Rome Statute in The Hague, the Netherlands.
  • The Rome Statute that came into force on 1 July 2002 helped establish International Criminal Court in The Hague in the Netherlands.
  • The step is seen as moving closer toward joining the world's permanent war crimes tribunal and it will help Palestine to press charges against Israel for alleged war crimes.
  • UN General Assembly voted overwhelmingly in November 2012 to upgrade the Palestinians' status from a UN observer to a non-voting member state, which allows it to be an observer under the rules of the Assembly of States Parties and to ratify the Rome statute and to accept its jurisdiction.
  • Previously, the Palestinians could attend as an entity without those rights.

Viswanathan Anand won London Classic Chess title

16-DEC-2014

  • Five-time World Chess Champion Viswanathan Anand of India on 15 December 2014 won his maiden London Classic Chess title. To win the title, he defeated British Grandmaster Michael Adams in the fifth and final round. 
    Results Final round
    • Viswanathan Anand (India, 7) beat Michael Adams (England, 4) 
    • Anish Giri (Netherlands, 7) drew with Vladimir Kramnik (Russia, 7)
    • Hikaru Nakamura (USA, 6) drew with Fabiano Caruana (Italy, 4)
  • The victory at London Classic confirmed Anand's presence in elite chess for some time as earlier in November 2014 he had lost to Magnus Carlsen of Norway in the world championship match at Sochi. The quick recovery of Anand in London suggests that there is more to expect from the Indian on the chess board.

Maleeha Lodhi appointed as Pakistan Ambassador to the United Nations

16-DEC-2014

  • Veteran journalist-turned-diplomat Maleeha Lodhi was on 15 December 2014 appointed as 16th Pakistan Ambassador to the United Nations (UN). Lodhi succeeded incumbent Ambassador Masood Khan.
  • Lodhi will join the office as Pakistan's representative to the UN in February 2015.
    Maleeha Lodhi
    • Maleeha started her career in journalism and is the first woman in South Asia to become the editor of a national daily The News International. She entered diplomacy after a career in journalism.
    • Lodhi taught Politics and Political Sociology at the London School of Economics from 1980 to 1985.
    • Lodhi has twice served as Pakistan's Ambassador to the United States in 1993-96 and 1999-2002.
    • She had been the Pakistan High Commissioner to the United Kingdom between 2003 and 2008.
    • Lodhi has also served as a member of the United Nations Secretary General's Advisory Board on Disarmament Affairs in 2001-2005.
    • She received the Pakistan presidential award Hilal-e-Imtiaz in 2002 for her public services.
    • She is a member of the National Defence University Senate and a member of the advisory council of the London- based International Institute of Strategic Affairs.

Vivek Hallegere Murthy appointed as 19th Surgeon General of America

16-DEC-2014

  • Indian-American physician Vivek Hallegere Murthy was on 15 December 2014 appointed as the 19th Surgeon General of America. His appointment was confirmed by the United States (US) Senate as he won 51 votes to 43 votes.
  • As surgeon general, Murthy will serve as the US top spokesperson on public health issues. He will be the youngest and the first Indian-American to hold the post. 
    Background
    The post of Surgeon General of America was vacant since 2013. Boris Lushniak was the acting Surgeon General of America since July 2013. 
    US President Barack Obama in November 2013 had nominated Vivek Hallegere Murthy to this top administration post on public health issues. 
    Murthy’s nomination received broad support from over 100 medical and public health organizations in the US.
    Vivek Hallegere Murthy
    • Murthy is a Hospitalist Attending Physician and Instructor in Medicine at Brigham and Women’s Hospital at Harvard Medical School since 2006.
    • He co-founded VISIONS Worldwide in 1995, a non-profit organisation focused on HIV/AIDS education in India and the United States.
    • Murthy has been the Co-Founder and Chairman of the Board of TrialNetworks, a cloud-based Clinical Trial Optimization System since 2007.
    • He is also the co-founder and president of Doctors for America organization since 2009.
    • In 2011, he was appointed as a Member of the Advisory Group on Prevention, Health Promotion, and Integrative and Public Health.

Lok Sabha passed Public Premises (Eviction of Unauthorized Occupants) Amendment Bill 2014

16-DEC-2014

  • Lok Sabha on 15 December 2014 passed the Public Premises (Eviction of Unauthorized Occupants) Amendment Bill, 2014.
  • The Bill seeks to amend the Public Premises (Eviction of Unauthorised Occupants) Act, 1971. 
    Provisions of the Public Premises (Eviction of Unauthorized Occupants) Amendment Bill, 2014
    •    The Bill proposes to make suitable amendments in Sections 2, 4, 5, 7 and 9 of the 1971 Act.
    •    The bill redefines public premises to include companies in which at least 51 percent of the paid-up share capital is held by Central and state governments.
    •    Out of 20 suggestions given by the Supreme Court in its 2013 judgment about unauthorized occupancy, 18 have been incorporated in the Bill.
    •    The bill seeks to bring the properties of Delhi Metro Rail Corporation and other Metro Rails which may come up in future and also the properties of New Delhi Municipal Council within the ambit of the 1971 Act.
    Public Premises (Eviction of Unauthorised Occupants) Act, 1971
    The Public Premises (Eviction of Unauthorised Occupants) Act, 1971 was enacted to provide for speedy machinery for the eviction of unauthorised occupants from public premises. Earlier, this Act has been amended thrice in the years 1980, 1984 and 1994. 
    The fourth amendment bill, Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2011 was introduced in the Lok Sabha on 23 November 2011. The Bill was referred to the Parliamentary Standing Committee (PSC) on Urban Development.
    The Committee in its Report had made some observations and recommendations to the Bill. Moreover, the Supreme Court in its judgment in July 2013 had given 20 suggestions to speed up the vacation of unauthorised occupants from the Public Premises.
    However, with the dissolution of 15th Lok Sabha, the  Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2011 lapsed.

Fortune 500 list of Indian companies 2014 released

15-DEC-2014

  • Fortune 500 List of Indian companies 2014 was released by the Fortune Magazine on second week of December 2014.
    Among the 500 companies, Indian Oil Corp (IOC) tops the list with an annual revenue of 500973 crore rupees followed by Mukesh Ambani led Reliance Industries Ltd (RIL) with an annual revenue is 444021 crore rupees.
  • Highlights of the Fortune 500 List of Indian Companies
    • IOC, RIL, BPCL and HPCL have retained their 2013 respective ranks.
    • There has been 9.5 percent annual growth in total revenues, while in terms of profit it is 4.5 percent.
    • The government-owned companies account for 38 percent of the total revenue and have seen a 6.6 percent growth, while private companies with 56.7 percent share with 10.2 percent of revenue growth.
    • Foreign-owned companies accounts for 5.3 percent of total revenue with 25.5 percent revenue growth.
    • Manufacturing with 298 companies has a 67 percent share of the total revenue, marginally lower than 68.7 percent in 2013. 
    • The revenue share of services companies around 143 firms has increased to 27.7 per cent from 26.3 percent in 2013.
    • The Profits of manufacturing share has fallen to 55.1 percent from 56.6 percent that of services has gone up to 44.1 percent from 40.9 percent.
    Top ten companies of the Fortune 500 list of Indian companies

Rank

Company Name

Total Revenue (crore rupees)

1

Indian Oil Corp

500973

2

Amban’s Reliance Industries Ltd

444021

3

Bharat Petroleum

267718

4

Hindustan Petroleum

236797

5

Tata Motors

236502

6

State Bank of India

226944

7

ONGC

182084

8

Tata Steel

149663

9

Essar Oil

99473

10

Hindalco Industries

89175

 

Prime Minister of Haiti Laurent Lamothe resigned following anti-government protests

15-DEC-2014

  • Prime Minister of Haiti Laurent Lamothe on 13 December 2014 resigned following anti-government protests over delayed elections and calls for elections. The President Michel Martelly accepted the resignation of Laurent Lamothe.
  • Lamothe was appointed as Prime Minister by the President Michel Martelly in 2012 and there is now speculation that Lamothe might seek the presidency in forthcoming elections.
  • The violent anti-government protests in Port-au-Prince, the capital of Haiti, were denounced by the United Nations Stabilization Mission in Haiti and it said that it is investigating the report of excessive use of force.
  • Background
    President Martelly has repeatedly delayed the elections of Haiti since 2011 that resulted into opposition senators accusing him for returning Haiti to dictatorial rule. Consequent to this, the protestors took on to the streets and have demanded that both Prime Minister Lamothe & President Michel Martelly should step down.
  • Haiti has been mired in extreme poverty and instability for years. It is still grappling with the aftermath of a catastrophic 2010 earthquake that killed more than 230000.

World Diamond Conference held in New Delhi

15-DEC-2014

  • World Diamond Conference was held in New Delhi on 11 December 2014. Prime Minister Narendra Modi and President Vladimir Putin along with Minister for Mineral Resources of South Africa Susan Shabangu attended the inauguration of World Diamond Conference.
  • The conference was organized by Gem and Jewellery Export Promotion Council in association with Union Ministry of Commerce and Industry and in association with the World Diamond Mark Foundation (WDMF).
  • The aim of the conference is to increase the global market for diamonds. Major companies’ retailers and diamond cutting industries were participated the conference.
  • During the conference, ALROSA- the largest rough diamond supplying company of Russia signed agreements for direct sale of rough diamonds with 12 Indian companies.
  • Under these 12 agreements, 2.1 billion US dollars worth of rough diamonds will be supplied to India at the rate of 700 million US dollars per year over the next three years.
  • India is the world's largest centre for cutting and polishing diamond and its largest importer of uncut diamond. At present, India exports cut and polished diamond worth 20 billion US dollars.

Indian film Jal nominated for Oscar contenders of 2014 in two categories

15-DEC-2014

  • Indian film Jal was nominated on 13 December 2014 for Oscar contenders of 2014 in two categories. The two categories are Best Picture and Best Original Score.
  • The film which has the backdrop of water scarcity and tells the story of Bakka, a person gifted with a special ability to find water in the desert.
  • The film will compete alongside path-breaking films like Interstellar, Exodus and 300 Rise of Empire.
  • Apart this, the film's screenplay has also been invited to the Oscar Library for their permanent core collection.
  • The film features Purab Kohli, Kirti Kulhari and Tannishtha Chatterjee in prominent roles. The film was directed by Girish Malik.
  • The music and background score for the film has been composed by Sonu Nigam and Bickram Ghosh.
  • The other Indian film nominated for the Best Original score is Kochadaiiyaan starring Rajnikant. The music composition by A.R. Rahman.
  • The final nomination list will be announced on 15 January 2015, while the presentation ceremony will be held on 22 February 2015 at the Dolby Theatre in Hollywood.

National Energy Conservation Day observed on 14 December

15-DEC-2014

  • National Energy Conservation Day was observed  on 14 December 2014. The National Energy Conservation Day was celebrated every year in India by the Bureau of Energy Efficiency (BEE).
  • The celebrations was marked by giving out of National Energy Conservation Award by the Ministry of Power, Government of India. The award was given to companies from different industry groups for creating benchmarks in energy conservation.
  • India has an act on Energy conservation, The Energy Conservation Act 2001.
  • The Energy Conservation Act 2001 is implemented by the Bureau of Energy Efficiency (BEE). BEE is a statutory body under Government of India. The act  envisages creation of cadre of professionally qualified energy managers and auditors with expertise in energy management, project management, financing and implementation of energy efficiency projects, as well as policy analysis.
  • Energy conservation means using less energy and avoiding excessive or wasteful uses. Energy efficiency, on the other hand, means using less energy while getting the same results. Efficiency is therefore a subset of conservation; one way to conserve energy is to use it more efficiently.
  • The concept of doing more with less offers an approach that seems both feasible and affordable.

Indian Navy won fifth edition of Admirals Cup for Sailing Regatta

15-DEC-2014

  • Indian Navy won the fifth edition of Admirals Cup Sailing Regatta on 13 December 2014. The International Sailing Regatta for the Admiral’s Cup was held at Ettikulam Bay, Ezhimala from 11 to 13 December 2014.
  • The Regatta witnessed a total of nine races and seventeen International Navies participated in the Admirals Cup 2014. Bahrain Navy and United Kingdom Navy teams came second and third respectively.
  • In the individual position of open category, Cadet Ebrahim Bin Sameer Al Shuwaitar of Saudi Arabia stood first. Cadet Ahmed Abdullah of Bahrain and Lieutenant Anke Dahlmann of Germany stood at second and third position respectively.
    In the individual position for women’s category, Lieutenant Anke Dahlmann stood first.
  • The seventeen navies that participated in the event includes Australia, Bangladesh, Bahrain, China, Egypt, France, Fiji, Germany, Mauritius, Oman, Saudi Arabia, South Africa, Sri Lanka, UAE, USA, United Kingdom and India.
  • The International Sailing Regatta for the Admiral’s Cup event was introduced in 2010.
  • In 2013, the fourth edition of the Admiral’s Cup International Sailing Regatta was won by the United Arab Emirates team. The Indian Navy and Brazil teams stood at second and third respectively.

PM Narendra Modi launched Born Again on the Mountain by Arunima Sinha

15-DEC-2014

  • Born Again on the Mountain : Arunima Sinha
  • Prime Minister Narendra  Modi on 12 December 2014 launched a book tittled Born Again on the Mountain by Arunima Sinha.  She is the first Indian amputee and first female amputee to climb Mount Everest.
  • The book is about her unforgettable story of hope, courage and resilience.
  • She was a national level volleyball player who was pushed out of a running train by thieves in 2011 as she attempted to fight them off.
  • The accident cost her left leg and sporting career, but it never deterred her. Two years later, she retrained as a mountaineer and became the first female amputee to scale Mount Everest.
  • Arunima Sinha is now dedicated towards social welfare and she wants to open a free sports academy for the poor and differently-abled persons. She is donating all the financial aids she is getting through awards and seminars for the same cause.

Sikkim CM Pawan Chamling became longest serving Chief Minister of India

15-DEC-2014

  • Sikkim Chief Minister Pawan Chamling on 12 December 2014 became longest serving Chief Minister of India. He completed his 20 years in the office on 12 December 2014. He has been chief minister of Sikkim since 12 December 1994.
  • Earlier, the longest serving CM was late Communist leader Jyoti Basu who was chief minister of West Bengal.
  • Chamling will create an Indian political history record of being 25 years in the office should he complete his present term, his fifth. He has led his Sikkim Democratic Front (SDF) party to a record mandate for the fifth time in a row in the assembly elections held in May 2014.
  • The ruling SDF has won 22 out of a total 32 seats on the plank of promoting peace, security and development. The party got majority 55 per cent vote share in multi corned contest in the state.
  • He was elected as the president of Yangang Gram Panchayat in 1982. In 1985, he was elected to the Sikkim Legislative Assembly for the first time. After being elected for the second time from Damthang constituency, he became the Minister for Industries, Information and Public Relations from 1989 to 1992 in the Nar Bahadur Bhandari cabinet.
  • After a series of major political upheavals in Sikkim, Chamling formed the Sikkim Democratic Front in 1993. The Sikkim Democratic Front won the 1994, 1999, 2004 and 2009 State Assembly elections.
  • Chamling has launched various flagship programme like Rural Housing Mission to make Sikkim the first Kutcha House-Free State in the country by 2013. So far, 6000 Pakka houses for poor Sikkimese families have been constructed. The objective of the mission is to provide permanent and a safe roof over every family in Sikkim.

Anerood Jugnauth appointed as Mauritius Prime Minister

15-DEC-2014

  • Anerood Jugnauth was appointed as Mauritius Prime Minister by the President Purryag on 14 December 2014. With this, he became the Prime Minister of Mauritius for the sixth time following victory of his alliance in Mauritius elections 2014.
  • Jugnauth replaced Prime Minister Navinchandra Ramgoolam of Labour Party, who resigned as the Prime Minister on 13 December 2014.
  • Jugnauth belongs to the Militant Socialist Movement party and his party made alliance with Lepep in the Mauritius elections 2014. In the elections centre-right Alliance of Jugnauth, Lepep won 47 seats out of 62 seats in the Parliament.  The coalition of the Labour Party and Mau Mauritian Militant Movement (MMM) won 13 seats in the election.
  • Previously Jugnauth served as President of Mauritius from 2003 to 2012. He has also severed as Prime Minister of Mauritius from 1982 to 1995 and again between 2000 and 2003.

Japan teens Mima Ito and Miu Hirano became youngest table tennis champions

15-DEC-2014

  • Japanese teens Mima Ito and Miu Hirano became youngest table tennis champions on 13 December 2014 in table tennis World Grand Finals.
  • The Table Tennis World Grand Finals was held in Bangkok.
  • Mima Ito and Miu Hirano took the women's doubles title by defeating  Natalia Partyka and Katarzyna Grzybowski of Poland with a score of 11-7, 11-6, 11-4, 11-5.
  • Also, they became the youngest ever winners to claim a 40000 US Dollar share of the prize money.
  • The Japanese teens had already defeated the Polish women at the German Open in 2014.
  • While, Japan's men's pair Kenta Matsudaira and Koki Niwa lost their final against South Korea's Cho Eon-Rae and Seo Hyun-Deok .

Miss South Africa Rolene Strauss crowned Miss World 2014

15-DEC-2014

  • Miss South Africa, Rolene Strauss on 14 December 2014 was crowned Miss World 2014 at the final of the beauty pageant held in London, UK. Strauss, 22-year-old fourth-year medical student at University of the Free State, was presented with the sash by the outgoing Miss World, Megan Young of the Philippines.
  • Rolene Strauss will now travel to the violence-hit Central American nation to build a school named in their honour. 
    Miss Hungary, Edina Kulcsar, was the runner-up and Miss United States, Elizabeth Safrit, came third in the 64th annual competition, contested by women from 121 countries.
    India's 21-year-old Jaipur-born Koyal Rana made it to the top 10 but failed to make it to the top five. However, she bagged the sub-title of Best Designer of the world. She also shared the Beauty With A Purpose title with Kenya, Guyana, Brazil and Indonesia. 
    Priyanka Chopra was the last Indian winner of the coveted title in 2000.

Germany won men's Hockey Champions Trophy for the year 2014

15-DEC-2014

  • Germany on 14 December 2014 won Hockey’s Champions Trophy for the year 2014. In the final match played at the Kalinga Stadium in Bhubaneswar, Odisha, Olympic Champions Germany defeated Pakistan by 2-0 margin.
    This was 10th Champions Trophy crown for Germany. It had last won the tournament in 2007. 
    This was the fifth Champions Trophy final played between Germany and Pakistan. Last time they had final clash in 1994, when Pakistan defeated Germany through penalty shoot-outs in Lahore, Pakistan.
  • Earlier for the third position and bronze medal, world champion Australia defeated India 2-1. 
    Till date India had won only a single medal in the Champions Trophy, it won a bronze in the 1982 edition in Amstelveen, the Netherlands. In 2012, India finished at fourth position in the tournament played in Melbourne, Australia.  
    In other play-off match, the Netherlands defeated Argentina 4-1 for the fifth position while England defeated Belgium 3-2 for the seventh position.
    Champions Trophy is an eight-nation tournament of Hockey.

Miss World honoured Aishwarya Rai for charitable work

15-DEC-2014

  • Miss World honoured Aishwarya Rai Bachan on 14 December 2014 for charitable work.  She was honoured with a special award at the Miss World 2014 ceremony in London.
  • The prize was announced to applause her charitable work since she crowned Miss World in 1994.
  • Aishwarya Rai Bachan appeared on stage with her husband Abhishek Bachchan, their daughter Aaradhya and her mother Vrinda Rai.
  • Aishwarya Rai was the first runner-up of the Miss India pageant. She won the Miss World pageant in   1994. She made her acting debut in the 1997.
  • She has received several awards and nominations, including two Filmfare Awards. She was awarded with the Padma Shri by the Government of India in 2009, and the Ordre des Arts et des Lettres by the Government of France in 2012.

Bangladesh launched manual campaign to clean up Sunderbans oil spill

15-DEC-2014

  • Bangladesh on 13 December 2014 launched an intensified manual campaign to clean up Sunderbans oil spill.
  • The forest department had engaged nearly 100 boats to collect the furnace oil spilled from the tanker which sank in the Shela river in the Sundarbans after being hit by a cargo vessel.
  • The seepage spread in the Shela and the Pashur rivers and over 20 canals which crisscross the Sundarbans in the past four days while officials found four out of six chambers of the tanker carrying 358000 litres oil damaged.
  • Officials said oil spill from the sunken tanker affected seven young saltwater crocodiles at Karamjal Wildlife Reproduction Centre and they were concerned about the fate of dolphins in the region it is their natural abode.
  • The authorities have filed a lawsuit against the owners of both ships. Bangladesh is yet to seek any overseas assistance to remove the oil but a London-based team officered its assistance for the clean-up.
  • The Sundarbans is the world largest mangrove forest, which covers 26000 square km in India and Bangladesh. It is also the habitat of famous Royal Bengal Tigers.
Back to Top