Modi to inaugurate Vibrant Gujarat Summit 2015
I.The seventh edition of the biennial Vibrant Gujarat Global Summit 2015, the brain child of then chief minister of the state and now the Prime Minister of India, Narendra Modi will be different from its earlier editions. Reason, this time the man behind Vibrant Gujarat Summit, Modi will not be the host. The Prime Minister will inaugurate the three-day summit beginning from January 11, 2015 at Mahatma Mandir in Gandhinagar.
II.On Wednesday, Gujarat chief minister, Anandiben Patel pitched for the event in New Delhi inviting envoys, leading industrialists and investors to participate in the event.
III.Started in 2003 with modest investment announcements, Vibrant Gujarat Global Summit swelled in size and scale over the years. By 2007, the event took a shape of a major congregation of who's who of India Inc lining up to share the dais with then chief minister Narendra Modi.
IV.The 2013 edition, which saw much attraction from the small and medium enterprises with focus on technology transfer, employment generation and skill development, became a platform for other states to come together to interact with global industries and attract investments in their respective states. In 2013 event, about 2,100 foreign delegates from 121 countries and about 5,800 delegates from India participated in the event.
NTPC to import 17 mt of coal this fiscal
I.Facing shortage in domestic fuel supplies, NTPC plans to import 17 million tonnes of coal this fiscal which is higher than the quantity purchased last financial year.
II.The company plans to add 1,798 MW generation in the current financial year ending March 2015.
III.NTPC Chairman and Managing Director Arup Roy Choudhury today said the total coal requirement is estimated to be 177 MT for this fiscal.
IV.“Out of this 147 MMT is expected against coal supply agreements and 3 MMT through bilateral MOU/E—auction. The gap of 27 MMT domestic coal is to be mitigated through 17 MT of imported coal,” he said while addressing the annual general meeting.
V.During 2013—14 period, NTPC consumed 158.57 MMT of coal, with imports accounting for 10.39 MMT.
VI.Currently, the utility has an installed capacity of 43,128 MW. Last fiscal, NTPC added a generation capacity of 1,835 MW.
Supreme court: People facing criminal, corruption charges shouldn't be made ministers
I. Sending a strong message that people against whom criminal and corruption charges have been framed be not inducted as ministers, the Supreme Court today said Prime Minister and Chief Ministers should desist from making such appointments and act in “national interest“.
II. A five-judge Constitution bench headed by Chief Justice RM Lodha, however, stopped short of prescribing disqualification for such people from becoming ministers, leaving it to the wisdom of the PM and CMs not to recommend such names to the President and Governor.
III. Observing that it cannot add disqualification in Article 75 (1) (appointment of PM and Council of Ministers), the Bench, however, said that the PM and CMs should not consider people with criminal antecedents and against whom charges have been framed in serious offences, including corruption, for appointment as ministers.
IV. It further said that the Constitution reposes immense trust in the PM and CMs and they are expected to act with constitutional responsibility and morality.
Ramesh Tainwala is Samsonite's new CEO
I.Luggage firm Samsonite International on Wednesday announced elevation of Ramesh Tainwala as its new Chief Executive Officer effective from October 1, 2014.
II.Tainwala, currently working as the COO of the company, will succeed Samsonite’s current Chairman and Chief Executive Officer Tim Parker. Parker will assume the role of Non-Executive Chairman of the group, the company said in a statement.
Mother Dairy, SBI launch 'SmartChange Card'
I. Dairy products major Mother Dairy and the State Bank of India today announced the launch of the 'SmartChange Card' for Mother Dairy booths in the National Capital Region.
II. The card, introduced to facilitate convenience of payment has been rolled out 76 booths already and the company plans to expand coverage to 150 booths over the next three months.
III. The card, priced at Rs. 25 at the time of issuance, will have a top up limit of Rs. 1,000 while the limit per transaction has been set at Rs. 500. Customers can use the card to shop for various items available at the booths, including milk and other dairy products, Safal products like fruit and vegetables and Dhara oil.
Supreme Court asks DLF to pay Rs. 630 cr penalty in 3 months
I.The Supreme Court on Wednesday upheld the Competition Appellate Tribunal's order and instructed DLF to pay a penalty of Rs. 630 crore in three months for unfair trade practices.
II.The company will have to pay Rs. 50 crore within three weeks, while the remaining will have to be paid within thee months, according to news reports. It will also have to submit an undertaking of interest of 9 per cent on the penalty amount.
III.DLF had earlier moved the Supreme Court against the Competition Appellate Tribunal's (Compat) May order which had upheld the Competition Commission of India ruling imposing the penalty on the firm for unfair business practices.
C.S.Verma elected as First President of Indian Steel Association
I. C.S.Verma was elected as First President of Indian Steel Association (ISA). Other members of the ISA were Sajjan Jindal, Chairman & Managing Director, JSW, Mr. TV Narendran, MD, Tata Steel, , P Madhusudan, CMD, RINL.
About ISA : The Indian Steel Association was formally launched on 26 August 2014 by the Major domestic steel producers of India.
Avia Indra-2014, the Indo-Russia maiden aerial exercise started
I. Indian Air Force (IAF) and Russian Federation Air Force (RFAF) Indo-Russian Air Force Exercise, Avia Indra-2014 at Astrakhan region, near the Caspian Sea in Russia.
II. Avia Indra-2014 is the first Indo-Russia aerial exercise that involves the air forces of the two countries. The exercise will go on till 5 September 2014.
III. The exercise is being conducted to boost cooperation between the air forces of two countries and involves aircraft like Su030MKI and Mi-17 helicopters.
IV. It also involves fighter pilots, helicopter pilots, missile combat crew, as well as engineers from the IAF along with their counterparts of the RFAF.
GVK MIAL awards first realty development contract to Oasis Realty
I.GVK Mumbai International Airport Limited awards first realty development contract to Oasis Realty.
II.This is the first commercial property development deal awarded for development of about 1.1 million sq ft out of 22 msft commercially developable built up area.
III.The deal is worth Rs. 580 crore.
IV.Mumbai International Airport Pvt Limited, a GVK-led consortium has started monetisation of commercial real estate by finalising lease of one of the parcels to Oasis Realty.
Reliance Jio Infocomm signed tower sharing deal with BSNL
I. Reliance Jio Infocomm (RJIL) on 26 August 2014 signed a deal with Bharat Sanchar Nigam Limited (BSNL) for sharing around 4000 mobile towers.
II. Along with tower sharing deal, Reliance Jio signed Infrastructure sharing deal with Bharti Airtel, Viom Network, Ascend Telecom Infrastructure, Reliance Communications and American Tower Company to utilise their infrastructure.
New Director for CRIDA
I.Ch Srinivasa Rao has been appointed as Director of Central Research Institute for Dryland Agriculture (CRIDA) in Hyderabad. A scientist with expertise in dryland agriculture and issues related to climate change, Srinivasa Rao would head the Indian Council of Agricultural Research (ICAR) for five years.
Mithali Raj Remains Number One Batswoman in ICC Rankings
I. India captain Mithali Raj has retained the top spot in the latest International Cricket Council (ICC) women's rankings for batters.
II. Mithali maintained her reign on the top with scores of 34 and 30, respectively, to be the second-highest run-scorer for her side in the series India lost 2-0 in England.
III. Her teammate Smriti Mandhana is the biggest mover on the table, jumping 23 places to a career-high 40th, following her knocks of 32 and 74.
IV. England captain Charlotte Edwards has jumped five places to second position after leading her side to a thumping victory over India in the opening round of the ICC Women's Championship.
First private wildlife corridor to come up in M.P
I. With an aim to develop country’s first private wildlife corridor between Kanha and Pench Tiger Reserve, telecom major Vodafone and Grow-Trees.com will plant 3,00,000 saplings under its Corporate Social Responsibility (CSR) initiative.
II. The company and Grow-Trees.com, the exclusive Indian planting partner for United Nation’s Environment Programme’s Billion Tree Campaign, today announced the launch of its joint initiative to create India’s first private wildlife corridor.
III. “The corridor is being developed between Kanha-Pench Wildlife Reserve by planting 3,00,000 trees over a period of three years
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