Wednesday, 21 October 2015

Week - In the News



India:

E-tailers target record sales this festive season
This festive season, e-commerce companies in the country are gearing up for the biggest sales of their lives. Consumers are expected to splurge around $7 billion (Rs 45,000cr) on online shopping this festive season.

Infosys to buy US-based Noah Consulting for $70mn
India’s second largest IT services provider Infosys said it plans to buy US-based Noah Consulting, an advanced information management consulting services provider for oil and gas industry for $70 million 9Rs 455 crore).

EY: India is top investment hub
India has been named the most attractive country for investment in a survey of over 500 global investors released by Ernst & Young.

Dying Ambernath Rail Neer factory gets a new life
A CBI raid in Delhi exposed the Rail Neer scam has resulted in a sharp rise of orders for its otherwise-dying mineral water production factory in Ambernath, near Mumbai. The unit producing only 30,000 bottles per day will now make 1,30,000 bottles.

Gujarat & Karnataka lift Maggi ban
Gujarat and Karnataka lifted ban on Maggie noodles with the rider that the new batch will be tested by a nationally accredited laboratory. The move comes two days after Maggie samples passed all tests designated by the Bombay High Court.

Truecaller crosses 100mn users in India
The screening app identifies 900 million calls every month, and the company is working towards further expanding its user base in tier II and tier III cities through its Truedialler and Truemessenger apps.

You may get Re1 for each call drop
Consumer may soon start receiving compensation for call drops. Telecom regulator Trai has proposed Re1 payback for each call drop. But the relief may be limited to 3 calls per day.

Paytm introduces cashless payments at unorganized retail
Digital payments company Paytm has introduced a QR code-based system to enable cashless payments across various unorganized trade segments. Local retailers and service providers can simply print out their unique QR code and present it to Paytm Wallet users at the time of payment.

Acquisition talks with SanDisk
Mark Duncan-led chip maker Micron Technology and Steve Milligan-led hard disk drive company Western Digital are in acquisition talks with Sanjay Mehrotra-led memory chip maker SanDisk. The target is valued at about 12.6 billion.

Supreme Court agrees to centre’s plea, to increase the ambit of Aadhar card.
Railways to plant trees along tracks all over the country.


 World:

19 PIOs elected MPs in Canada
As many as 19 Canadians of Indian origin were elected to the Canadian parliament, making it the highest ever presence of MPs with Indian roots in the House of Commons.

China GDP at 6-yr low of 6.9%
China’s economy grew by 6.9% in the three months ended September, the slowest since early 2009 in the aftermath of the global financial crisis. Weakening trade and manufacturing have fueled concern in China about possible job losses and unrest.

Adani’s controversial $12b Carmichael coal project
Adani’s controversial $12b Carmichael coal mining project gets Australian government’s nod with ’36 strictest conditions’ in the country’s history.

FB to launch Notify real-time news app
Social networking giant FB is reportedly working on a breaking news app called Notify and could be ready to launch it by October-end, according to reports.

India fastest growing among top markets: Dell
Michael Dell said that Indian business was growing four times faster than the overall market. He said Dell in India held the highest market share last quarter in servers, workstations and note books. According to him, India is the third biggest after US and China.

Titanic iceberg photo up for auction
A grainy black and white photograph showing an iceberg in the middle of the calm sea that caused the RMS Titanic to sink in 1912 is up for auction. It was taken by the chief steward of the ocean liner Prinz Adalbert on the morning of April 15, 1912; hours after RMS Titanic sank. The auction is scheduled for Oct 24.

China has more billionaires than US
China now has more billionaires than US. China has 596 against 537 American billionaires.

US seeks deal to limit Pak’s nuclear arsenal
Us seeks a deal to limit Pakistan’s nuclear arsenal. The move follows concern that Islamabad may deploy small tactical nuclear weapons.

After Parliament nod, Iran’s guardian council clears nuclear bill.
Using Russia’s cover, Iran begins sending fighters to Syria.
ISS confirms killing of number 2 leader in US airstrike in Iraq.


Viewpoint:

WPI inflation marginally up in Sept; pulses, onion continue to sting
Deflationary trend continued for the eleventh straight month, with Wholesale Price Index inflation remaining in the negative at (-) 4.54 per cent in Sept, but common man continues to suffer under the burden of rising prices of pulses and onions. Inflation in food articles inched up to 0.69 per cent in Sept, from (-) 1.13 per cent in August, according to the data released.

Reality check?
Any elected government with an overwhelming mandate should concentrate on good governance, clean administration and provide law and order for the benefit of its citizens.

It should not enter the common man’s kitchen to see what he eats and what he should not. Nor decide what he should see and what he should not or what he should read or what he should nor what he should wear or what he should not.

Price control of essential commodities is an important function of the government. Recently with the spiraling prices of onions, all eyes were on it, but now it’s the pulses. The prices of pulses and dal, considered the common man’s source of protein, have flared in recent months and some of them are selling at over Rs 100 per kg beyond the reach of aam admi.

In the last one year, 600 farmers committed suicide. Skewed priorities is agriculture over decades have brought us to this state. It is of utmost urgency that a workable plan be put in place to rectify the situation. Just promises of financial package and schemes won’t work. A reality check is needed?





MyPost


Jamaican wins Man Booker prize for Bob Marley novel
Marlon James, first from Jamaica to bag this honour; 70 publishers had rejected his debut novel. He has become the first Jamaican winner of the Man Booker fiction prize with a vividly violent, exuberant and expletive-laden novel based on the attempted assassination of reggae star Bob Marley.

Quote:

‘To be successful – reinvent yourself and stay relevant.’
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Picture Post:

Vethoba temple at Arravali, nr Shiroda, Maharastra, India
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