17-18 October 2015
17 October
Admiral Radhakrishna Hariram Tahiliani (Retd) passed away
Former Chief of the Naval Staff Admiral Radhakrishna Hariram Tahiliani (Retd) passed away on 14 October 2015 in New Delhi. He was 85.
Born on 12 May 1930, the Admiral was commissioned in the Navy on 1 September 1950 and served as the 11th Chief of Naval Staff from 1 December 1984 till 30 November 1987. The Admiral had commanded the carrier borne squadron INAS 300 during the Indo-Pak war in 1971.
His distinguished career included command of INS Trishul and the Aircraft Carrier INS Vikrant. A distinguished graduate of the French Test Pilot School and an outstanding pilot, he was the first to land on the deck of INS Vikrant on a Hawker Sea Hawk Fighter ushering carrier based aviation into the Indian Navy.
Admiral Tahiliani retired from the Indian Navy on 30 November 1987 after a highly distinguished career spanning 37 years. He was awarded with the Ati Vishisht Seva Medal and the Param Vishisht Seva Medal for his distinguished service.
Post-retirement, Admiral Tahiliani served as the Governor of Sikkim between February 1990 and September 1994. He had also served as the chairman of the India chapter from its founding until 2010.
Onsari Gharti Magar elected as House speaker of Nepal
Unified Communist Party of Nepal (Maoist) candidate Onsari Gharti Magar was on 16 October 2015 unanimously elected as the House speaker of Nepal. With this, Onsari Gharti became the first female Speaker in the parliamentary history of Nepal.
Onsari was the former Deputy Speaker and had served as Minister for Youth and Sports in the Nepal Cabinet led by Jhala Nath Khanal.
Onsari’s unanimous election became possible after Nepal Majdoor Kisan Party candidate Anuradha Thapa withdrew her candidacy. Her name was proposed by CPN-UML lawmaker Bidya Devi Bhandari and Rastriya Prajatantra Party-Nepal among other fringe parties seconded her candidacy.
On the other hand, Rastriya Prajatantra Party's Nepal lawmaker Ganga Prasad Yadav was elected as the Deputy Speaker.
Background
Nepal's Constituent Assembly was converted into the legislative Parliament after the promulgation of the Constitution on 20 September 2015. Following this, K P Sharma Oli was elected as the new prime minister defeating incumbent Sushil Koirala in a contest.
The new constitution is aimed at bolstering the Nepal's transformation to a peaceful democracy after decades of political instability and a civil war.
Pakistan, Russia signed agreement to build 1100 km Gas Pipeline
Pakistan and Russia on 16 October 2015 signed an agreement to build a 1100-km gas pipeline stretching from Karachi on Arabian Sea to the eastern city of Lahore. The agreement was signed by Russian Energy Minister Alexander Novak and Pakistan Petroleum Minister Shahid Khaqan Abbasi.
In this project, Russia will invest 2 billion US dollars and it will be built by Russian company RT Global Resources, a subsidiary of Russian state corporation Rostec. The pipeline is expected to get completed by December 2017.
Highlights of the Gas Pipeline
• This 1100-kilometre (680-mile) pipeline has the capacity of 12.4 billion cubic metres (438 billion cubic feet) per year.
• The pipeline will connect Karachi’s Liquefied Natural Gas (LNG) terminals with those in Lahore.
• The pipeline project will be implemented in compliance with Build Own Operate Transfer (BOOT) model.
• It will be owned and operated by the manufacturer for 25 years and after that it will be handed over to the Pakistan government.
The project will help develop a multi-dimensional relationship with Russia in the fields of defence, trade, energy, culture, infrastructure and other spheres. Earlier in August 2015, Pakistan and Russia signed a landmark defence deal for the sale of 4 Mi-35 Hind E attack helicopters to Pakistan.
China, Indonesia signed 5.5 billion US dollars deal to build high-speed railway in Indonesia
China and Indonesia on 16 October 2015 signed a 5.5 billion US dollars deal to build the first high-speed railway in Indonesia following the victory of Beijing in winning the construction project by beating Tokyo.
Japan was long expected to build the railway but China entered the contest in 2015, and Tokyo's bid was rejected in September 2015 after a chaotic bidding process that infuriated the Japanese companies.
The project will be implemented by state-owned China Railway International and a consortium of Indonesian state companies. In the regard, the chairman of state-owned China Railway International, Yang Zhongmin, signed a deal with a consortium of Indonesian state companies to form a joint venture to build the railway.
Highlights of the Deal
• The high-speed railway line will connect the Indonesian capital Jakarta with the mountain-fringed city of Bandung, some 160 kilometres (100 miles) away.
• State-owned China Development Bank will provide 75 percent of the funding, with the rest coming from the Chinese railway company and Indonesian consortium.
• The railway line will not need any financing from the Indonesian government, nor a government guarantee.
• The high-speed train route will cover eight stations from Jakarta to Bandung, and the train will travel at around 250 kilometres (150 miles) an hour.
This high-speed train will make it easier for the public to travel. This major project will also provide major employment opportunities and boost the economy.
Aditya Birla Group launched online fashion store Abof.com
The Aditya Birla Group on 16 October 2015 launched a new online fashion store Abof.com with an aim to tap a boom in e-commerce. The portal www.abof.com will offer shoppers brands from both the Aditya Birla Group and other companies.
Abof (all about fashion) is a one-stop fashion portal for apparel, footwear and accessories for men and women. The new portal will be targeted at the young and have a curated collection focusing on quality and not give discounts.
This online fashion store Abof.com will compete with the likes of Myntra, a Flipkart unit, and Rocket Internet-backed Jabong. Abof.com will be privately held by Birla in his personal capacity.
Comment
This move came when the markets are observing a boom in the e-Commerce trends. The e-commerce sector is a sunrise sector from an investment point of view.
It is believed that e-commerce sales can touch 60 billion US dollars by 2020, driven by the manifold growth in smartphone users to more than 500 million.
By the end of 2015, fashionwear, including apparel and footwear, is expected to be the largest retail category online, with sales of 3.9 billion US dollars, bigger than sales of electronics and consumer durables online at 3.5 billion US dollars.
MK Surana appointed as the CMD of Hindustan Petroleum Corp Ltd
MK Surana was on 16 October 2015 appointed as the Chairman and Managing Director (CMD) of state-run oil marketer Hindustan Petroleum Corp Ltd (HPCL) with effect from April 2016. He will succeed current incumbent Nishi Vasudeva who will retire in March 2016.
Surana is currently serving as the Chief Executive Officer of Prize Petroleum Co, the oil exploration arm of HPCL. He has been executive director with HPCL since September 2012 and will get a five year term that can be extended up to his retirement age of 60 years in April 2022.
A Mechanical Engineer by profession, Surana is a refineries man and had also served as the General Manager of Projects for Vishaka Refinery of HPCL.
Surana's appointment was approved by the Public Enterprise Selection Board (PESB). The PESB interviewed 12 candidates including HPCL director PK Joshi and STC chairman Khaleel Rahim, as well as four HPCL executive directors- SP Gupta, GS Ganesh, S Jeyakrishnan and Ajit Singh for the post.
His appointment will now be examined by the Appointments Committee of the Cabinet (ACC).
International Day for the Eradication of Poverty observed globally
17 October: International Day for the Eradication of Poverty
The International Day for the Eradication of Poverty was observed globally on 17 October 2015 with the theme Building a sustainable future: Coming together to end poverty and discrimination.
The 2015 observance of the International Day for the Eradication of Poverty is a special one, as it comes on the heels of the adoption of Transforming our world: the 2030 Agenda for Sustainable Development. This Agenda succeeds the Millennium Development Goals, contains 17 ambitious goals basically to end poverty in all its forms everywhere.
Background
The International Day for the Eradication of Poverty has been observed every year since 1993, when the United Nations General Assembly, by its resolution 47/196, designated this day to promote awareness of the need to eradicate poverty and destitution in all countries.
The Day was designated to promote people’s awareness of the need to eradicate poverty and destitution worldwide, particularly in developing countries.