Star India is now the official sponsor of Indian cricket team
Star India Pvt. Ltd., the television network, bags sponsorship rights of the Indian cricket team covering BCCI events, International Cricket Council (ICC) events and Asian Cricket Council (ACC) events, from January 1, 2014 to March 31, 2017. This brings to an end a 12-year partnership with Sahara, the existing team sponsor, whose contract expires on December 31,2013.
The BCCI fixed the base price for India’s international matches at Rs. 1.5 crores per match.
Star India bid Rs.1.92 crore per match for bilateral series, and Rs. 61 lakh per match for ICC-sponsored tournaments.
Sahara bid Rs. 2.35 crore per BCCI match and Rs. 91 lakh for ICC games. The total amount bid by them stood at Rs. 252 crore in contrast to Rs. 203 crore bid by Star. ( Sahara’s bid rejected on technical grounds)
The team sponsorship rights include the right to be called the official team sponsor, and to display a commercial logo on the men’s, women’s, Under-19 and A teams’ kits.
Star now holds all three important rights: broadcasting, series title and team sponsorship.
Star is also the title sponsor for BCCI’s international and domestic matches till March 31, 2014, and holds the broadcast, internet and mobile rights to Indian cricket until March 2018.
Why Sahara India was disqualified, albeit its bid was higher ?
The reasons are not known, but there was a bone of contention among the Sahara Group and the BCCI on the Indian Premier League Pune franchise. In October 2013, the board terminated Sahara-sponsored IPL team Pune Warriors over franchise fees.
“Miss Earth Venezuela” Alyz Henrich wins the Miss Earth beauty pageant 2013
Miss Earth Venezuela” Alyz Henrich won the 13th edition of the Miss Earth Pageant held at the Versailles Palace in Alabang, Muntilupa City, Philippines. Miss Earth is an annual international beauty pageant promoting environmental awareness.
Eighty-eight contestants from all over the world competed and the winner was.
Alyz Henrich’s cause for the pageant is to ensure water preservation.
The Venezuelan beauty chosen to keep waters of an island cleans as her environmental advocacy.
Other winners are:
Miss Earth Fire: Miss Korea Catharina Choi
Miss Earth Water: Miss Thailand Punika Kulsoontornrut
Miss Earth Air: Miss Austria Katia Wagner
India’s participant for the pageant was Sobhita Dhulipala, who failed to make it in the list of top 16. She won the Miss Photogenic and the Miss Eco Beauty Title contests.
About Miss Earth beauty pageant
Established in 2001 to uphold the advocacy to preserve and restore the environment.
Headquarters are at Manila, Philippines
The title-holder serves as the ambassador for environmental protection campaigns worldwide.
Nicole Faria is the first Indian contestant to have won the title in 2010.
India to Host 2017 FIFA U-17 World Cup
India will host the 2017 Under-17 World Cup Football. This will be the first time India will host an international football competition at world level.
The 2017 FIFA U-17 World Cup will be the 17th tournament of the FIFA U-17 World Cup. It is the world championship of association football for male players under the age of 17 organized by Fédération Internationale de Football Association (FIFA).
After the meeting in Salvador da Bahia, Brazil, FIFA executive committee unveiled that By virtue of being the host country, India will take part in the 24-nation tournament for the first time in its history.
India hosted Asian Football Co federation’s Youth Championships (Under-20) in 2006 and then the AFC Challenge Cup in 2008 but never any FIFA tournament.
Tournament will be held in 6 venues which are to be selected from eight cities – New Delhi, Margao, Banglore, Pune , Mumbai, Kolkata, Kochi and Guwahati.
Note: The 2013 FIFA U-17 World Cup was held in the United Arab Emirates and won by Nigeria after defeating Mexico. Chile will be the host country for the 2015 edition.
FIFA awarded South Korea to host Under-20 World Cup in 2017, Jordan to host Women’s Under-17 World Cup in 2016 and South Africa to host 2016 FIFA Under 20 Women’s World Cup.
Oldest known human DNA decoded
The researchers at the Max Planck Institute for Evolutionary Anthropology in Leipzig, Germany have decoded the oldest DNA ever found. They have almost completely decoded the mitochondrial DNA (mt DNA) taken from four-lakh year old thigh bone of human family representative of the genus Homo.
The thigh bone was discovered at a burial site Sima de los Huesos (Bone Pit) that was preserved in Spain’s northern Sierra de Atapuerca highlands. The scientists have found that the mitochondrial genome of Denisovans belongs to the extinct relatives of Neanderthals in Asia.
What did the researchers find after decoding the oldest DNA?
This research has enhanced the knowledge of the human genetics by 300000 years and also tells about the journey of human’s evolution. After comparing the code with the modern humans, apes, Neanderthals and their sister group, Denisovans, researchers found that the Spanish hominins were more closely related to the geographically more distant Denisovans than to Neanderthals.
ndia permits unlisted companies to directly raise capital abroad
As per the Department of Industrial Policy and Promotion (DIPP), India’s FDI policy has been modified to allow unlisted firms to directly list on stock exchanges abroad to raise capital for acquisitions or retiring overseas debts. This step may help India in controlling high Current Account Deficit (CAD).
Unlisted companies are heretofore not allowed to directly list in overseas markets without prior or subsequent listing in Indian markets. But following the changes made in the ‘Consolidated FDI Policy’ in this regard, they would be allowed to do so.
As per revised FDI Policy:
Unlisted firms are allowed to directly list abroad only on exchanges in International Organisation of Securities Commissions (IOSCO)/ Financial Action Task Force (FATF) compliant jurisdictions or those jurisdictions with which SEBI has signed bilateral agreements.
The companies will be allowed to raise capital abroad and use the same for retiring outstanding overseas debt or for operations abroad including for acquisitions.
If the funds raised are not utilised abroad, the company should repatriate the funds to India within 15 days and park it with a scheduled bank and may be used domestically.
The listing companies raising funds overseas would have to be fully compliant with the FDI policy.
The listing firms would also have to abide by the guidelines on downstream investment and the criteria of eligibility of who can raise funds through ADRs/GDRs would be as prescribed by the government.
The scheme will be implemented on a pilot basis for a period of 2 years.
Why has the government allowed unlisted firms to raise capital abroad?
The government has set a target to slash the CAD to below $56 billion this fiscal (2013-14), as against $88.2 billion in the last financial year. The value of Rupee versus US dollar has declined drastically because of high CAD and other global factors. The government’s step to allow the unlisted companies to raise capital abroad would help in easing the pressure on CAD as the firms would not have to buy or borrow the foreign currency (mainly dollars) from domestic markets which puts strain on CAD. Besides, the step may also improve CAD if the unused capital is sent back home to a scheduled bank or utilized domestically.
Congress victorious in Mizoram Assembly polls 2013
December 13, 2013 No comments
Mizoram Assembly poll results are out and Congress has defeated its main rival Mizo National Front (MNF) by a huge margin. Although Congress faced debacle in the assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh and Delhi, it has managed to save face in Mizoram by registering a second consecutive win in the small Christian-dominated state that MNF once wanted to take out of the Indian Union.
It is Congress’ fourth electoral win after Mizoram attained statehood in 1987, following the signing of the historic 1986 Mizo Accord between the Centre and MNF led by the legendary Laldenga.
Results:
Of the total 40 seats Congress clinched 33 seats limiting its opponent MNF to a just 5 seats. Many give the credit of Congress’ triumph to Lal Thanhawla‘s popular Congress New Land Use Policy (NLUP), which was evolved to tackle jhum or shifting cultivation. Four-time chief minister Lal Thanhawla (71) has won from 2 seats – Serchhip and Hrangturzo. It is his 9th electoral win since Mizoram became a Union territory in 1972 and a full-fledged state in 1987.
PepsiCo appointed D Shivakumar as head of Indian region
Beverages and food giant PepsiCo India appointed former Nokia senior executive D. Shivakumar as the company’s new chairman and chief executive officer (CEO) for the Indian region.
What type of responsibilities will D.Shivakumar look after?
Oversee all aspects in India, including the Pepsi-Cola, Lay’s, Slice, Kurkure, Tropicana, Quaker and NourishCo (a joint venture with Tata Global Beverages) brands.
Responsible for deploying the Rs. 33,000 crore investments in India that PepsiCo announced last month.
Also look after the franchise businesses in Bangladesh, Nepal, Bhutan, Sri Lanka and the Maldives.
Note: He will succeed Gautham Mukkavilli, current General Manager for PepsiCo India Beverages( who has been named the senior Vice-President , Business Transformation – AMEA at PepsiCo).
Raman Singh takes oath as Chhattisgarh CM
Raman Singh (61) of BJP was sworn in as Chief Minister of Chhattisgarh for the 3rd term in row. Governor Shekhar Dutt administered Singh the oath of office and secrecy during a grand swearing-in ceremony.
Raman Singh has retained the CM post as the BJP registered victory by winning 49 of the 90 seats. Congress could manage 39 seats in the 90-member Assembly while the rest of the 2 seats were bagged by BSP and an Independent each.
With this, Singh has now joined the elite club of BJP chief ministers who have scored three consecutive terms in their respective states.
IOC ranked No.1 on India’s Fortune 500 list
According to the latest annual list of Fortune 500 companies in India published by business magazine Fortune, state-run Indian Oil Corp (IOC) is country’s biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place.
Indian Oil Corp (IOC) was the biggest with annual revenue of Rs 4,75,867 crore, followed by Reliance Industries (RIL) with a full-year revenue of Rs 4,09,883 crore. This is followed by Bharat Petroleum (Rs 2,44,822 crore) at the third place and Hindustan Petroleum (Rs 2,17,771 crore) at fourth.
As per Fortune 500, India Top 10 Companies are:
Rank
Company
1. Indian Oil Corporation (IOC)
2. Reliance Industries Limited (RIL)
3. Bharat Petroleum
4. Hindustan Petroleum
5. State Bank of India
6. Tata Motors
7. ONGC
8. Tata Steel
9. Essar Oil
10. Coal India
Reliance Jio, Bharti Airtel join hands for sharing telecom infrastructure
Bharti Airtel, has inked an infrastructure-sharing agreement with the telecom subsidiary of Reliance Industries.
The deal will allow the telecom unit, Reliance Jio, to access Bharti’s nationwide infrastructure while Bharti will have in return access to the optic fibre capacity established by Jio in future. As a result, RIL might be able to kick off telecom and broadband services in the near future by utilizing Bharti’s infrastructure, much earlier than if it had to create its own infrastructure. It has slashed Reliance Jio’s time to market by several years.
Airtel will also benefit from the deal as its cash flows will be boosted by lease rentals from Jio.
The deal is also extended to jointly laying optic fibre and starting other forms of infrastructure services.
This is the second infrastructure-sharing deal between the two companies. In April 2013, both had entered into an agreement under which Bharti has provided capacity on its i2i submarine cable to Reliance Jio.
Uruguay becomes first country to legalize sale and production of marijuana
December 13, 2013 No comments
Uruguay has become the first nation in the world to make it legal to grow, sell and consume marijuana. The country’s parliament has passed the government-sponsored bill which allows registered Uruguayans over 18 to buy up to 40g (1,4oz) of the drug a month.
Though possession of the drug is not a crime in the country, but with this legislation coming into effect in April 2014, the price of marijuana will be set at 1 dollar per gram, aiming to undercut the current price of $1.40 in the illegal market. A specialized body would be set up by the government to regulate the sale and production of the drug and it will administer a database of adult citizens registered to consume marijuana. The law would permit registered Uruguayans over the age of 18 to buy up to 40 grams of marijuana from pharmacies every month and cultivate a maximum of 6 plants on their property a year. The legislation will also permit for the creation of so-called cannabis clubs, composed of up to 45 members who will be able to grow a maximum of 99 plants a year.
Why Uruguay is legalizing marijuana trade?
The government of Uruguay intends to curb the market of illegal marijuana this new legislation as its previous attempts and policies have failed. The law is an experiment programme under which the government will sell the drug at a price lower than that in the illegal markets to defeat them and push them out of this business. It will also be able to tax the revenue generated from it. The whole programme will be regulated and administered by the government.
Criticism:
The project has drawn national and international criticism. The International Narcotics Control Board (INCB) has warned that the law would be in complete contravention to the provisions of the international drug treaties to which Uruguay is signatory. As per health experts, this move would encourage the drug market and would cause social damage as marijuana is highly addictive and is 15 times more carcinogenic than tobacco. It produces psychological disorders like depression, anxiety and – for heavy consumers – schizophrenia.
What is International Narcotics Control Board (INCB)?
The International Narcotics Control Board (INCB) is an independent body of experts established by the United Nations to monitor countries’ compliance with international drug treaties.
US and UK spying on virtual world, online games
As per the secret documents disclosed by whistle-blower Edward Snowden, in an effort to identify terrorist threats, US and British spies have reportedly penetrated the massive communities playing video games such as World of War craft, etc.
Why are US and UK intelligence agencies fearing from online gaming platform?
US and British intelligence fear that the terrorists could use the hugely popular platform to plot attacks, as online gaming is a big business attracting tens of millions of users worldwide who inhabit their digital worlds as make-believe characters, living and competing with the avatars of other players.
Why there are concerns on the spying of online games?
The US and UK spying agencies conducted operations illegally; not taking permission from the authorized owner of the online games. This has raised concerns over the privacy of the online-gamers. It is however, unclear that how these agencies accessed the data, or how many communications were collected. It is also not clear how the NSA ensured that it was not monitoring innocent Americans whose identity and nationality may have been concealed and compromised behind their virtual avatar.
Supreme Court restricts the use of red beacon light on vehicles
The Supreme Court has banned the use of red beacon light with flashers on all vehicles except those used by high dignitaries holding constitutional post; also banned pressure horns, multiple sound emitting horns and musical horns in vehicles.
The court passed the order on a PIL filed by Uttar Pradesh resident Abhay Singh on misuse of red beacon.
Why the Supreme Court restricted the use of red beacons?
The apex court stated that the red lights represent power and create an arrant difference among those who are allowed to use it and the ones who are not. But a large number of those using vehicles with red lights have neither respect for the laws of the country, nor they treat the ordinary citizens with respect. Even criminals were getting away using red lights because the police were too “scared” to stop a car with a beacon. So, to avoid such practices, the court decided to restrict them.
As per the directions of Supreme Court:
The term “high dignitaries” used in proviso (iii) to Rule 108(1) of the 1989 Rules takes within its fold the holders of various posts, positions and offices specified in the Constitution.
The motor vehicles carrying “high dignitaries” specified by the Central Government and their counterparts specified by the State Government may be fitted with red lights but the red lights with or without flasher can be used only while the specified high dignitary is on duty and not otherwise.
The State Governments and Administration of Union Territories cannot enlarge the scope of the term “high dignitaries” beyond what is prescribed in clauses ‘c’ and ‘d’ of Notifications dated 11.1.2002 and 28.7.2005 issued by the Central Government. Therefore, they shall amend the relevant rules and notifications to bring them in tune with the 1989 Rules and notifications dated 11.1.2002 and 28.7.2002 issued by the Central Government. This exercise must be completed within a period of three months.
The men in uniform; operational agencies which require un-hindered access to the roads for performance of their duty; those engaged in emergency duties such as ambulance services, fire services, emergency maintenance etc, and police vehicles used as escorts or pilots or for law and order duties shall not be entitled to have red lights but lights of other colours, e.g., blue, white, multicoloured etc…
No motor vehicles except those specified in Rule 119(3) of the 1989 Rules or similar provisions contained in the rules framed by the State Governments or the Administration of Union Territories shall be fitted with multi-toned horns giving a succession of different notes or with any other sound producing device giving an unduly harsh, shrill, loud or alarming noise.
The police officers and other authorities entrusted with the task of enforcing the provisions of the 1988 Act and the Rules framed thereunder must discharge their duties without any fear or favour and should impose appropriate penalty on those who violate the prohibition contained in Rule 108(1) and Rule 119 and similar rules framed by the State Governments and the Administration of Union Territories. The owners/users of the vehicles fitted with multi- toned horns other than those allowed to use such horns under Rule 119(3) of the 1989 Rules or corresponding rules framed by the State Governments and the Administration of the Union Territories shall, within a period of one month from today, remove the multi toned horns. The officers authorised to enforce the provisions of the 1988 Act and the rules framed thereunder by the Central Government, the State Governments and the Administration of Union Territories shall also ensure that multi-toned horns are removed from all the vehicles except those specified in rule 119(3) of the 1989 Rules or corresponding rules framed by the State Governments and the Administration of Union Territories.
The Chief Secretaries of all the States and the Administrators of Union Territories shall cause a notice published in the newspapers having wide circulation in their respective States and the Union Territories incorporating the directions contained in this order.
VIPs who can use Red beacons while on duty:
LIST A: (With Flasher)
President; Vice President; Prime Minister; ex-Presidents; ex-PMs; deputy PM; CJI and SC Judges; LS Speaker; Union Cabinet Ministers; plan panel deputy chairperson; leaders of opposition in LS and RS.
LIST B: (Without Flasher)
CEC; CAG; Union Mos & dy ministers; LS deputy speaker; RS dy chairman; plan panel members; AG; Cabinet secy; services chiefs & officiating chiefs of staff; heads of CAT, UPSC, minorities commission, SC & ST commission.
PFBTA: Newly discovered greenhouse gas ’7,000 times more potent than CO2′
Researchers at University of Toronto have discovered a new greenhouse gas that is 7,000 times more powerful than carbon dioxide to cause greenhouse effect which causes warming of the Earth.
As per the scientists, the newly discovered gas, PerFluoroTriButylAmine (PFTBA), has been in use by the electrical industry since the mid-20th century.
The discoverers have claimed that PFTBA which does not occur naturally has the highest radiative efficiency of any molecule detected in the atmosphere up to now.
The study showed that PFTBA was 7,100 times more powerful at warming the Earth over a 100-year time period than CO2. This gas remains in the atmosphere for about 500 years, and unlike CO2 which is absorbed by forests and oceans, there are no known natural “sinks” on Earth to absorb it.
Do we need to worry about PFTBA?
Not at current levels. The current concentration of PFTBA in the atmosphere is very low as compared to CO2 so it does not displace the focus of our concerns from the burning of fossil fuels such as oil and coal as the main drivers of climate change. However, higher concentration of the gas would contribute to a serious global warming. So we need to ponder over using such compounds in large quantity without first understanding their impact on climate change.
RBI grants license to Doha Bank to start banking operations in India
he Reserve Bank of India has granted license to Doha Bank to start banking operations in India and has allowed it to open a branch in Mumbai to provide full-scale banking services.
Doha Bank which is the largest commercial bank in the state of Qatar intends to expand its operations at the local, regional and international levels. The bank will soon start operations as a foreign bank branch in Mumbai and will offer wholesale banking, retail banking, treasury and trade finance services to all customers in India.
This licence will further boost the niche role Doha Bank is playing and facilitating the movement of trade between Qatar and India. Qatar-India bilateral annual trade is about $16 billion and there are huge opportunities of growth available in infrastructure and other sectors in India.
There is a large diaspora of Indian population in Qatar and various Indian companies are active in infrastructure projects. As per Doha Bank, the licence will pave the way for the bank to support all expatriates with its solutions especially remittance solutions.
Mr. Ranjan Mathai appointed India’s High Commissioner to the UK
The External Affairs Ministry appointed former Foreign Secretary Ranjan Mathai as India’s High Commissioner to the United Kingdom. He succeeded Jaimini Bhagwati, who retired recently.
About Mr. Ranjan Mathai
An IFS officer of 1974 batch, who retired as Foreign Secretary this year.
Played a critical role in the Indo-Bangla Ganges Water Sharing accord during Sheikh Hasina’s first stint as the Prime Minister.
Apart from serving as India’s Ambassador to France, he also had postings in Israel and Qatar among other places.
Note: The Commonwealth of Nations is an intergovernmental organization of 53 member states that were mostly territories of the former British Empire. In them, a High Commissioner is the senior diplomat (ranking as ambassador) in charge of the diplomatic mission of one Commonwealth government to another. There are a few technical differences, like Ambassadors present their diplomatic credentials to the host country’s head of state; High Commissioners are recognized to the head of government, etc.
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