International:
Iran grants UN nuclear watchdog greater access
Iran on 18th October notified the International Atomic Energy Agency that it would apply a protocol granting inspectors greater access to its nuclear sites, a further step in the implementation of a historic deal struck with world powers, the UN nuclear watchdog said.
The announcement came as the European Union's foreign policy chief Federica Mogherini and Iranian foreign minister Mohammad Javad Zarif were set to make a statement on the lifting of crippling sanctions on Tehran, as part of the so-called Joint Comprehensive Plan of Action signed in Vienna in July.
The additional protocol is a voluntary agreement enabling the IAEA to gain greater access to Iran's nuclear facilities and research, to ensure that no atomic material is diverted to any covert weapons programme -- an aim denied strenuously by Tehran. Iran had been a signatory to the protocol from 2003 until 2006 before pulling out of the agreement.
Under the landmark deal struck in July, Iran pledged to dramatically scale down its nuclear activities in order to render any effort to make an atomic bomb virtually impossible. In return, the world powers must finalise the mechanism for lifting UN and Western sanctions.
The EU was due to formally announce the lifting of its punitive measures on Sunday, although this is not expected to take effect before December. On 15th October, the IAEA said it had completed on schedule gathering information in its probe into Iran's alleged past efforts to develop nuclear weapons.
The agency's chief Yukiya Amano is expected to provide a final assessment on the investigation by December 15.
Thousands flee homes as Typhoon Koppu hits northern Philippines
The eye of Koppu struck the remote coastal town of Casiguran, 215 kms northeast of Manila early this morning with gusts of up to 210 kms an hour.
Spain, US in new accord on nuclear accident site cleanup
Almost 50 years after four nuclear bombs fell on the Spanish coast after two US military planes collided, American officials have signed a deal to clean up contaminated land. None of the bombs detonated in January 1966, but three fell around Palomares and a fourth was found on the sea bed. Highly toxic plutonium was spread over a 200-hectare area.
On a visit to Madrid, Secretary of State John Kerry agreed to finalise a deal on disposing of contaminated soil. Under the agreement in principle, signed by Mr Kerry and Spanish Foreign Minister Jose Manuel Garcia-Margallo, the US will remove the soil at Palomares to a site in the US.
More girls dying before age five than boys in India: UN Report
India is among the countries with the largest surplus of men and a worrying under-five sex ratio with more girls dying before the age of five than boys, according to a UN report on 20th October. The World's Women 2015" report launched said men outnumber women in eastern Asia, southern Asia, Oceania, and western Asia.
The three regions have the highest surplus of men in absolute numbers: 50.5 million in Eastern Asia (mainly due to China), 49.5 million in Southern Asia (mainly due to India), and 12.1 million in Western Asia (mainly due to Saudi Arabia and the UAE).
In absolute terms, countries with the largest surplus of men are China (52 million), in Eastern Asia, and India (43 million), in Southern Asia.
The ratio of men to women and the surplus of men in these two most populous countries largely determine the surplus of men observed at the global level. The report said that in India, while sex-selective abortions have been technically illegal since 1996, the law has had "little effect so far on the sex ratio at birth".
India has the lowest sex ratio in under-5 mortality, with a ratio of 93 (93 boys die before age 5 for 100 girls that die by that age). This is also the only country with an under-5 mortality sex ratio under 100 (more girls die than boys)
India alone accounted for 21 per cent of all under-5 deaths in 2013 and this low sex ratio in under-5 mortality is pulling down the average for Southern Asia as a whole and the entire world.
Higher mortality among girls can be closely related to a general preference for sons in India, which is expressed in special treatment for boys in terms of parental investment in nutrition, vaccinations, access to health treatment and parental care in general. It further said that in China and India, between 1995 and 2013, women's participation in the labour force declined from 72 to 64 per cent and from 35 to 27 per cent, respectively.
Child marriage is also most common in south Asia and sub-Saharan Africa, with India accounting for one third of the global total of child brides.
Russia and United States sign deal to avoid clashes between their air forces over Syrian skies
Russia and United States have signed a deal that they hope will avoid clashes between their air forces in the skies over Syria. Russian began air strikes in Syria on 30th of September, saying it was targeting Islamic State militants. Last week, the US said both countries' planes entered the same battle space and came within miles of each other.
Russia's Deputy Defence Minister Anatoly Antonov said the memorandum contains a number of rules and restrictions aimed at preventing incidents between American and Russian planes.
UN: Over 500,000 migrants reach Greece this year
Over half a million migrants have arrived by sea in Greece this year and the rate continues to rise, the according to United Nations said report on 20th October, in a rush to beat the onset of the freezing winter months.
Europe continues to struggle with the arrival of hundreds of thousands of people this year, the biggest migration movement since World War Two, many of whom are refugees fleeing war and persecution from Syria, Iraq and Eritrea.
According to the U.N. High Commissioner for Refugees, in all, more than 643,000 refugees and migrants from the Middle East, Africa and Asia have crossed the Mediterranean to Europe this year and at least 3,135 have died en route.
India leads in paperless trade
Cross-border paperless trade is essential for developing economies to reduce trade costs to participate in international production networks and effectively use trade and as an engine of growth and sustainable development.
According to Joint United Nations Regional Commissions Trade Facilitation and Paperless Trade Implementation Survey for 2015, India leads in South Asia in global average implementation rate of the ambitious set of trade facilitation measures in 2015. The survey finds out that the global average implementation rate of the ambitious set of trade facilitation measures stands at 52.9%.
Developed Economies have the highest implementation rate with 75.4%, while The Netherlands stands out as the best overall performer.
Full implementation of cross-border paperless trade is expected to generate USD 257 billion of additional export potential annually for the Asia-Pacific region alone. Trade Facilitation has become a key feature in supply chain security and customs modernisation programmes.
Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency.
Some of the measures include improvement of transport infrastructure, the modernization of customs administration, the removal of other non-tariff trade barriers, as well as export marketing and promotion.
102 countries pledge not to oppose UN action on genocide
More than 100 countries have signed a "Code of Conduct" pledging not to vote against a credible UN Security Council resolution seeking to prevent or end genocide, crimes against humanity or war crimes. The initiative was launched on 23rd october,the eve of the UN's 70th anniversary, by Liechtenstein's Foreign Minister Aurelia Frick who called the code "a catalyst for a culture of zero tolerance for atrocity crimes within the council."
She said it would also serve as a catalyst for political accountability between the council and the rest of the 193 UN member states.
While not legally binding, the Code of Conduct reflects growing concern at the power of the five veto-wielding council members — the US, Russia, China, Britain and France — to veto a resolution on atrocity crimes.
Panel rejects zero civilian casualties claim
An inquiry commission on missing persons has dismissed one of the claims of the previous Rajapaksa regime that "there were zero civilian casualties" in the final phase of the Eelam War, which ended in May 2009, and acknowledged that shelling by the Sri Lankan Army (SLA) "undoubtedly led to a number of significant deaths."
Constituted by the former government in August 2013, the three-member panel, headed by Justice Maxwell P. Paranagama, stated that surely there were casualties. On the issue of shell strikes by the Army at hospitals during the final phase, the panel suggested a scrutiny of individual incidents, although it noted that not a single government doctor was killed in a hospital. At the same time, the Paranagama Commission rejected the finding of a 2011 UN report that civilian deaths could have been 40,000.
But, it took note an estimate by the UN Country Team of 7,721 deaths as on May 13, 2009, six days before the formal declaration of the conclusion of the war.
Maldives vice president arrested over president's boat blast
Maldives Vice President Ahmed Adeeb will be charged with high treason after being arrested in connection with an explosion aboard the president's boat in September, 2015. Adeeb was arrested at the airport when he returned home from an official visit to China on 23rd October on suspicion of involvement in the boat blast.
Soon after the September 28 blast aboard President Yameen Abdul Gayoom's speedboat, rumours began circulating that Adeeb is behind it, but he has denied his involved. As per Maldives' constitution. if a president dies, incapacitated or resigns, the vice president succeeds him.
The arrest adds to the political tensions of this already fragile, young democracy, which has in recent years been rocked by power struggles, disputed elections and crackdowns on the pposition. Three soldiers, including a former member of Adeeb's security detail and a member of the army's bomb squad, were also arrested yesterday in connection with the blast.
The explosion took place aboard Gayoom's boat as he and his wife were returning to Male, the capital, from the airport after a hajj pilgrimage to Saudi Arabia. The Maldives' airport is on a separate island from the capital. Gayoom escaped unhurt, but his wife, an aide and a bodyguard were injured in the blast.
National:Bring 'model central law' to curb ponzi schemes: Parliamentary Panel
The Parliamentary Standing Committee on Finance has suggested framing of a model central law to curb illegal money pooling activities done in the garb of direct selling. The law would include in its ambit collective investment schemes, chit funds, direct selling schemes and such other activities which are presently permissible but are defined and regulated in a dispersed manner. There have been rising instances of gullible investors getting cheated by fraudulent investment schemes that mostly offer high returns within a short period of time.
Observing that broad definition of 'money circulation' is the main reason for the failure of Prize Chits and Money Circulation (Banning) Act, the panel said there should be clear cut definitions so that prohibited schemes do not operate by camouflaging as legitimate schemes like direct selling.
GM crop trials to restart in Maharashtra
The testing of genetically modified crops has received a new lease of life in Maharashtra with a committee set up under nuclear scientist Anil Kakodkar recommending that the trials be restarted. In March, field trials of rice, corn, brinjal and chickpea commenced in farms controlled by State agriculture universities. The seeds were provided by companies such as Monsanto, Mahyco and BASF. But the trials had to be abandoned as the State Agriculture Department withdrew permission.
The NGOs that opposed GM crops, including RSS-affiliated Swadeshi Jagran Manch, had raised several technical issues including fears of cross-pollination between GM and non-GM crops.
Despite all the assurances, National Co-convenor of Swadeshi Jagran Manch Ashwani Mahajan said the trials should not be allowed, as there is a need for more clarity, especially from the toxicity perspective. The committee, he said, has not come clean on technical and environmental issues raised by the Manch.
Some experts on the committee have a conflict of interest, therefore a demand would soon be made for the formation of a national commission, which will look at all the aspects of GM crops, he said.
World Bank poverty estimates are poor, says government
It said the actual poverty was much higher than suggested by the multilateral lender, adding there was lack of scientific basis in computing the poverty line.
Before the release of a report, 'Ending Extreme Poverty and Sharing Prosperity', India's Central Statistics Office and the finance ministry held a series of meetings with World Bank teams, contending the consumption basket used to derive PPP did not even reflect the spending pattern of the common man in India, let alone the poor.
India's poverty can't be this low. PPP is not an appropriate method to measure poverty. It has always been the government's stand that PPP should only be used to compare GDP (gross domestic product) across countries, not poverty. The items in PPP are comparable across the world and, therefore, high-end.
In 2011-12, only about an eighth of India's population lived below the poverty line, according to the World Bank's poverty cut-off of $1.9 a day of expenditure per person, if a new methodology of poverty estimation by the National Sample Survey Office (NSSO) was taken into account, the report said. If the previous methodology is considered, the figure stands at 21.2 per cent, also based on the new poverty line. According to the World Bank report, the poverty rate in India was one of the lowest among developing nations, even if one used the previous NSSO methodology.
The items consumed by the poor are not properly represented in the basket. The $1.9 per capita expenditure dollar line is not right in the Indian context and not based on any scientific methodology
The PPP based on the common list of items consumed across the world include a range of high-end items, not relevant from an Indian perspective, such as high-end rice, pasta, mineral water, wine and packaged holidays.
The official said the PPP measure might be relevant for the US or Mexico, but not for India, as the consumption and living patterns here were very different.
Another official said at Rs 15 a dollar, the PPP for India was too low to reflect the ground reality. PPP of Rs 15 a dollar would mean a poverty line of Rs 28.5 estimated by the World Bank.
This is lower than the Rs 33 a day of per capita expenditure estimated by the Suresh Tendulkar methodology, which drew flak from several quarters. However, it is slightly higher than Rs 29 a day for rural areas, also computed through the Tendulkar methodology.
Following criticism, the erstwhile Planning Commission had appointed another panel, headed by economist C Rangarajan, to come out with a set of poverty numbers. The panel estimated the poverty line based on per capita expenditure of Rs 47 a day for urban areas and Rs 33 a day for rural areas.
According to the Tendulkar methodology, as many as 21.5 per cent of Indians were poor in 2011-12. The Rangarajan panel revised this number to 29.5 per cent.
If the older methodology is considered, the poor constituted 21.2 per cent of the country's population, based on the World Bank's poverty line. The bank had raised the line from $1.25 a day of expenditure.
The new methodology is based on modified mixed reference period, the measure of monthly per capita expenditure when household consumer expenditure on most food items is recorded for a reference period of the "last seven days" preceding the survey period.
Holy book sacrilege: Punjab cancels World Kabaddi Cup
Paramilitary forces were on 20th October deployed in four districts of Punjab as a precautionary measure. The decision has been taken keeping in view the situation in the State. Central forces have been deployed in Amritsar, Jalandhar and Ludhiana and Taran Tarn district of Punjab. World Kabbadi Cup to be held in the State from 14th to 28th November has been canceled.
Six career counseling centres for AP and Telangana
Centre has sanctioned six new career counselling centres for the benefit of unemployed youth in Telangana and Andhra Pradesh. Both the states will get three counselling centres each. As per the plan, first counselling centre in Telangana will come up in Osmania University.
The counselling centres will replace the existing system of employment exchanges in the country. Union government sanctioned 980 counselling centres for all States. Out of this a 100 will be model counselling centres.
Counselling centres will work as a common platform using which unemployed youth can meet their future employers. Unlike employment exchanges, counselling centres will not just be registration offices but places of exchange for ideas between employers and employees. For the first phase of the project government will release Rs 380 crore. Attached to the employment exchange, the government will also run a job portal that can be accessed by employers.
Cabinet approves bilateral agreements with Egypt, Maldives
Union Cabinet chaired by Prime Minister Narendra Modi, has given its approval on 21st October for signing of a Mutual Legal Assistance Treaty in Criminal Matters between India and the Maldives. The Treaty aims to enhance effectiveness of both countries in investigation and prosecution of crime, through cooperation and mutual legal assistance in criminal matters.
In the context of transnational crime and its linkages to terrorism, the proposed Treaty will provide a broad legal framework for bilateral cooperation with Maldives in investigation and prosecution of crime as well as in tracing, restraint and confiscation of proceeds, and instruments of crime as well as funds meant to finance terrorist acts.
Union Cabinet has also given its approval for signing of an agreement between India and Egypt on Maritime Transport.
The decision was taken a view to strengthening cooperation and to render sustained mutual assistance and advice on merchant shipping and other related maritime matters.
Signing of the Agreement will help, both countries to encourage and facilitate the development their maritime relationship, exchange and training of staff and students from various maritime establishments, exchange-of information necessary for accelerating and facilitating the flow of commercial goods at sea and at ports and and other maritime-related activities.
Dadri lynching result of premeditated planning, says Minority Commission
National Minorities Commission has said that the lynching of a man in Dadri last month strongly appeared to be the result of pre-meditated planning. In its report, the minority panel said it will be quite an understatement to say the killing was merely an accident as has been claimed even by some persons in authority.
A three-member team of the Commission headed by its chairman Naseem Ahmad had visited Bishada village near Dadri in Uttar Pradesh and interacted with family members of the victim, the concerned authorities and locals.
It said, all the political establishments need to counsel their cadres and sympathisers to desist from making irresponsible statements and making capital out of such outrages.
The commission sought vigilance and curb on the use of social media as it is being extensively used to flare up communal passions.
Mid-day meal scheme goes online
In an attempt to curtail irregularities in the midday meal scheme, the Telangana State government has decided to deploy software to get precise number of students attending in each school on day-to-day basis and taking meals. The government has proposed to implement the scheme on pilot basis in schools in Kottur mandal in Mahboobnagar.
The schemes envisages the headmasters of all schools sending the precise number of students attending the classes on day-to-day basis and the number of them taking the midday meals. The government has proposed to send the data online every day. Software developed by a software company has come in handy for the purpose.
According to the circular, MEOs have not been spending funds to pay honorarium to cooking agencies. Apart from it, it has been found that the headmasters too have not been reporting to the government precise number of students taking midday meals. As a result of which, the MEOs are unable to present the bills to the treasury and thus paying honorarium to the cooking agencies irregularly.
Foundation laid for Amaravati city
Indian Prime Minister Narendra Modi on 22nd October laid the foundation stone of the new capital of Andhra Pradesh at Amravati on the banks of Krishna River.
He said this will be a major step towards development of hundred smart cities in the country. The Prime Minister assured the people that the Andhra Pradesh Reorganisation Act would be implemented in letter and spirit.
The Prime Minister also inaugurated the Garuda Shaped terminal at Tirupati airport built at a cost of 191 crore rupees. The airport can now handle 500 domestic and 200 international passengers at a time. It will have 18 check-in counters, 4 immigration counters and parking for 250 cars. Mr. Modi said all over the world, tourism sector is taking the front seat and is of great help to the poor to earn their livelihood. He said Centre is extending all help for the development of tourism.
Mr. Modi also laid the foundation stone of the Shri Venkateswar Mobile Manufacturing Hub at Tirupati. Spread over 122 acres, various Indian Mobile venders will set-up their campuses at the hub. It is estimated to generated 10,000 jobs within a year.
KCR lays foundation stone for 2BHK houses
The Telangana Government launched the construction of double bedroom houses for poor at various places across the State on the occasion of Vijayadashami Day on 22nd October.
Chief Minister K. Chandrashekar Rao laid the foundation stone for the 2BHK house at Suryapet in Nalgonda district. According to KCR said 400 houses under MLA quota and 500 houses under Chief Minister's quota would be constructed and completed on priority basis. Foundation stone has been laid for construction of 60,000 houses across Telangana on 22nd October.
Government approves induction of women fighter pilots in Indian Air Force
Government has approved induction of women into the Fighter branch of Indian Air Force. The decision has been taken keeping in view the aspirations of Indian women and is in line with contemporary trends in Armed Forces of developed nations.
The first women pilots would be selected from the batch which is presently undergoing flying training at Air Force Academy. They will be commissioned into the fighter stream in June 2016 after successful completion of initial training. Thereafter, they would undergo advanced training for one year and would enter a fighter cockpit by June 2017.
At present there are around 1,500 women in the Air Force, including 94 pilots and 14 navigators. The Air Force is presently inducting women in Transport and Helicopter streams. With latest decision, women have become eligible for induction in all branches and streams of the Air Force.
Defense Ministry has also taken up a comprehensive review pertaining to induction of women in Armed Forces, both in short service commission and permanent commission. Once finalised, more and more branches would be opened up for induction of women.
President Pranab Mukherjee promulgates two ordinances
President Pranab Mukherjee has promulgated two ordinances. One of the ordinance provides for the constitution of Commercial Courts, Commercial Division and Commercial Appellate Division in the High Courts for adjudicating commercial disputes of specified value and for matters connected there with or incidental thereto. The second one is for amending the Arbitration and Conciliation Act 1996.
The Union Cabinet had approved promulgation of these ordinances on Wednesday and recommended it to the President.
Bilateral:Nepal's Dy PM Kamal Thapa calls on PM Modi
Prime Minister Narendra Modi on 19th October made it clear to Nepal that India's only desire is to see the neighbouring country united, inclusive.
Kamal Thapa had an extensive meeting with his Indian counterpart Sushma Swaraj on sunday during which he understood to have urged New Delhi to ensure the supply of essential goods to crisis hit Nepal, where life has come to grinding halt due to ongoing agitation by various groups in wake of promulgation of new Constitution.
Sushma Swaraj asked Nepal Deputy PM Kamal Thapa about what will be the roadmap of resolving political deadlock in Nepal and said peace and reconciliation with all groups is the way out to resolve political impasse.
Nepal's Deputy PM Kamal Thapa sought India's help in sending more than 300 fuel laden trucks from alternative routes.
The Nepalese leader said to have briefed the external affairs minister about the recent political changes in his country, the Constitution amendment process and the efforts being made for political stability.
This was Thapa's first visit to India, and also abroad, after the new Government headed by K P Sharma Oli took charge in the Himalayan nation following promulgation of the new Constitution about a month back.
Nepal has been facing a number of issues ever since it promulgated its consitution last month. Madhesi and other groups in the south of the country have been agitating and asking for a say in the constitution. Agitation of the Madhesi people has led to the 2,500 trucks being stranded at various entry points at Indo-Nepal border.
Swaraj holds talks with Turkmen counterpart on TAPI
External Affairs Minister Sushma Swaraj on 19th October held talks with her Turkmen counterpart Rashid Meredov on key issues, including TAPI gas pipeline and Ashgabat Agreement on trade and transit.
Swaraj, who had a stopover in Ashgabat on her way to Moscow where she will co-chair the annual India-Russia Inter- Governmental Commission meeting with her Russian counterpart, met Meredov who said that they will be sending the Ashgabat Agreement copy to India for further discussion.
The discussions came after Prime Minister Narendra Modi during his visit to Turkmenistan in July expressed gratitude for Turkmenistan's support to India in joining the Ashgabat Agreement on trade and transit.
The Ashgabat Agreement is a transit agreement established in year 2011 between the countries of Uzbekistan, Iran, Turkmenistan and Oman. Kazakhstan has also joined the bloc.
The USD 10 billion TAPI -- Turkmenistan-Afghanistan- Pakistan-India -- project is expected to bring Turkmen natural gas from its giant Dauletabad and Galkynysh gas fields to Pakistan and India. The project is likely to take off in December.
BRICS University Forum meet kicks off in Beijing
The BRICS University President Forum 2015 started its three-day meeting in Beijing on 17th October. Top officials from 12 Indian universities, including Jawaharlal Nehru University and Indian Institute of Technology (IIT) Delhi, are participating in the forum.
The University Forum, jointly organised by Beijing Normal University and Beijing Municipal Commission of Education, aims at building an exchange platform among academia, political sphere and business community, leading to in-depth research on major challenges confronted by the BRICS countries.
India, US and Japan hold naval exercises
Naval warships, aircraft carriers and submarines from the U.S., India and Japan steamed into the Bay of Bengal on 17th October as they took part in joint military exercises off India's east coast, signalling the growing strategic ties between the three countries.
The sea drills, part of the six-day-long Malabar exercises, will cover the full spectrum of naval manoeuvres, including military-to-military coordination and anti-submarine warfare, according to a joint statement.
After Japan, US has also said that the trilateral Navy Exercise Malabar-2015, also involving India, was not aimed at China or any other country, but was an initiative to ensure freedom of navigation in the region and enhance communication among the three navies.
India sought info about mystery surrounding Netaji
India on 20th October asked Russia to share any information it has on the seven-decade-old mystery surrounding Netaji Subhas Chandra Bose. The development came after Prime Minister Narendra Modi's announcement that India will declassify files on Bose beginning January 23 next year.
The issue was raised by External Affairs Minister Sushma Swaraj during her meeting with Russian Foreign Minister Sergey Lavrov. Successive governments have refused to make public these documents, arguing that India's relations with foreign countries would be jeopardized.
The demands for declassification of secret files have been growing lately, especially after the Mamata Banerjee government in West Bengal last month declassified 64 files which were in its possession.
Sushma to BRICS Nations: Make in India
External Affairs Minister Sushma Swaraj, who is on a three-day official visit to Russia, asked BRICS partners to invest in India's flagship programmes including 'Make in India' and 'Skill India'.
The External Affairs Minister, while speaking at a meeting of BRICS Ministers of Industries, also made a strong pitch for removal of structural impediments for increasing trade engagement amongst members of the group. Sushma Swaraj said the government has laid down a clear roadmap for lowering corporate taxes and that there is huge opportunities in India for trade and investment.
TG MoU with French city
Telangana Government Chief Secretary Dr. Rajiv Sharma on 20th October signed a Memorandum of Understanding (MoU) with Bordeaux Metropolis (France), represented by its Vice President Michel Vernejoul. The MoU aims at strengthening economic links between Telangana State and Bordeaux Metropolis in aeronautical engineering, biotechnology and information technology sectors and in areas of urban renewal.
The Chief Secretary also met representatives of other institutions including, Aero Campus Quitaine and Sabena Techniques, in Bordeaux to explore possible areas of cooperation and investment. The signing of MoU was followed by meeting with number of companies in Stockholm, including Electrolux and Ericsson, and a visit to Almhult, Ikea's headquarters in Sweden.
India and Russia discuss ways to boost their economic ties
India and Russia have discussed ways to boost their economic ties to achieve the target of 30 billion dollar in bilateral trade in the next 10 years. India's External Affairs Minister Sushma Swaraj and Russia's Deputy Prime Minister Dmitry Rogozin chaired the 21st India-Russia Inter-Governmental Consultations in Moscow on 21st October.
They also looked at ways to enhance mutual direct investment to 15 billion dollar by 2025. Both the sides identified various sectors to achieve the commercial targets, agreed upon by Prime Minister Narendra.
Japan offers India $15-bn for bullet train project
Japan has offered to finance India's first bullet train, estimated to cost $15 billion, at an interest rate of less than a per cent, stealing a march on China, bidding for other projects on the world's fourth-largest network. Tokyo was picked to assess the feasibility of building the 505-kilometre corridor linking Mumbai with Ahmedabad and concluded it would be technically and financially viable.
The project to build and supply the route will be put out to tender, but offering finance makes Japan the clear frontrunner.
Last month, China won the contract to assess the feasibility of a high-speed train between Delhi and Mumbai, a 1,200-km route estimated to cost twice as much. No loan has yet been offered.
Japan's decision to give virtually free finance for Modi's pet programme is part of its broader push back against China's involvement in infrastructure development in South Asia over the past several years.
The two projects are part of a 'Diamond Qaudrilateral' of high-speed trains over 10,000 km of track that India wants to set up connecting Delhi, Mumbai, Chennai and Kolkata. Japan has offered to meet 80 per cent of the Mumbai-Ahmedabad project cost, on condition that India buys 30 per cent of equipment, including the coaches and locomotives from Japanese firms.
Japan's International Cooperation Agency (JICA), which led the feasibility survey, said the journey time between Mumbai and Ahmedabad would be cut to two hours from seven. The route will require 11 new tunnels, including one undersea near Mumbai.
Beijing offered $5 billion in loans without asking for guarantees, an Indonesian official said, ending a months-long battle to build the line linking Jakarta with the textile hub of Bandung.
The average speed of trains is 54km/hour, and rail experts have argued that the priority ought to be to improve the speed and safety on existing trains and routes.
India, Africa align on WTO issues
Ahead of the World Trade Organization (WTO)'s ministerial conference, India and Africa on 23rd October discussed their respective positions, especially those pertaining to a permanent solution for food stockholding programme. The WTO ministerial conference will take place in Nairobi, Kenya during December 15-18.
AP, Japan sign MoC to develop industries, new capital
Andhra Pradesh and Japan have entered into a Memorandum of Cooperation (MoC) for industrial development and construction of the new capital Amaravati. Andhra Pradesh Chief Minister N Chandrababu Naidu and Japanese State Minister for Economy, Trade and Industry (METI) Yosuke Takagi, signed the MoC on 22nd October
A Memorandum of Understanding was also signed between the AP Finance department and Japan Bank for International Cooperation (JBIC) to invite foreign investments and to develop proposed capital city and region. JBIC intends to promote investments and exports to the State by Japanese companies.
Economy:Centre imposes stock limits on holding of pulses
The government has taken several measures for increasing the availability of pulses by banning export of pulses, extension of zero import duty on pulses and also import of 5000 tonnes of pulses from Price Stabilization Fund.
To increase production of pulses, the minimum support price for Urad and Arhar dal have been increased to 4625 rupees per quintal each and for Moong dal to 4850 rupees per quintal. The Ministry has directed all the departments to keep a close watch on prices of essential commodities, especially pulses and work in close coordination with all States to control price rise.
Food Ministry has said, 500 tonnes of Tur dal have been allotted to Kendriya Bhandar and 200 tonnes to Safal for distribution through over 400 outlets. To meet the shortage of pulses in future, Government has decided to create a buffer stock of 40 thousand tonnes of pulses and 200 crore rupees have been earmarked for the Buffer stock.
PM launches IDFC Bank in MP
Indian Prime Minister Narendra Modi on 19th October inaugurated the IDFC Bank in Madhya Pradesh through remote control at a function organised at his Official Residence in Delhi. According to PM, the main aim of the bank is to venture out to the villages to provide banking facilities to the people.
He said, rural economy is contributing to the overall growth of the country. He said, banking system is witnessing changes and in the coming days, premises-less and paper-less banking system will become the identity of banks.
Centre clears extension of Wipro's SEZ in Kolkata
In a decision that will allow IT-major Wipro Technologies to expand its IT/ITES Special Economic Zone at Salt Lake, Kolkata, the government has agreed to waive the contiguity or continuity norm permitting the company to include another patch of land that is not attached to the existing zone.
The Board of Approval for SEZs, which met earlier this month, however, placed the condition that the developer has to put in place fool-proof security systems at the entry and exit points to preclude foul-play.
Wipro had requested the BoA to allow it to develop 2.5 acres of land with the existing structure of 11 floors as an extension of its Salt Lake SEZ, despite the two pieces of land being non-contiguous. It had suggested that it would build in a fool-proof surveillance system to ensure that items were not brought in or taken out of the SEZ illicitly.
Although the BoA is very particular about ensuring that contiguity is maintained by building the required infrastructure, in the case of Wipro it decided to relax the rules because of the peculiarity of the case, the official said.
Contiguity norm is an important part of the SEZ policy to ensure that an SEZ is not set up on multiple patches of land with public roads and other infrastructure running through it. This is important as SEZ developers and units are given several tax concessions to produce within the zone and their interface with the area outside the zones is subjected to various rules and regulations.
In case two pieces of land are non-contiguous, approval for the project is usually given when developers agree to construct over-bridges, under-passes or sky-walks to establish contiguity.
Although the BoA is very particular about ensuring that contiguity is maintained by building the required infrastructure, in the case of Wipro it has decided to relax the rules because of the peculiarity of the case.
Guidelines in FDI for insurance firms issued
The Insurance Regulatory and Development Authority of India (Irdai) on Monday said the total foreign investment in Indian insurance companies had been capped at 49 per cent. The regulator gave three months to insurers to comply with these norms from the date of issue of the guidelines.
The existing shareholders agreements will have to be reworked to comply with the norms. Some insurance companies have already begun work on this.
Irdai said the regulator might grant another three months to existing insurers to comply for valid reasons. This extra time would be given provided that the total time taken to comply with "Indian owned and controlled" stipulations does not extend beyond six months.
New insurance companies will have to comply with the norms before registration.
The law will be applicable in case the companies propose to hike their foreign investment from the existing level; or even when they do not intend to increase their current foreign stake from the existing level, Irdai clarified.
Irdai said domestic firms should ensure that a majority of directors, excluding independent ones, are nominated by Indian promoters /investors.
The appointment of key management person, including chief executive officer or managing director or principal officer, should be through the board of directors or by the Indian promoter.
However, key management person, excluding CEO, might be nominated by the foreign investor provided company board approves it.
Employment increases by 5.21 lakh in FY'15; 64K in Jan-Mar
Employment in 8 sectors including IT/BPO, automobiles, gems & jewellery and textile rose by 5.21 lakh last fiscal, said a government report. However, job creation in these 8 sectors which also include handloom/powerloom, leather, transport and metal remained little stressed in the January-March quarter at 64,000 over the previous quarter, as per Labour Bureau's '25th Quarterly Report on Changes in Employment'.
During the first three quarters of 2014-15, these sectors witnessed an overall increase in employment by 1.82 lakh, 1.58 lakh and 1.17 lakh over the previous quarters. As per the 24th report, the overall employment had reduced by 36,000 in the January-March quarter in 2013-14.
The report also stated that the overall employment increased by 2.76 lakh during 2013-14, lower than 5.21 lakh in the previous fiscal. At industry level, the highest increase in employment is observed in IT/BPOs sector where jobs increased by 37,000 during January-March, over November-December, 2014, followed by textiles including apparel sector (24,000), automobiles sector (20,000) and metals sector (1,000).
The largest decrease in employment was recorded in leather sector (8,000) followed by gem & jewellery (6,000), transport (2,000) and handloom/powerloom (2,000).
In the direct category of workers, employment has increased by 15,000 whereas for contract category of workers, it has increased by 49,000 during the quarter ended March, 2015 over December, 2014.
Employment in the exporting units has increased by 73,000 at overall level, whereas in the non-exporting units, it has decreased by 9,000 during January-March, 2015 over the previous quarter November-December, 2014.
Labour Bureau has been conducting a series of quarterly quick employment surveys since January, 2009 to study the impact of global economic slowdown on employment in Indian economy. The first one was conducted to study the impact of economic slowdown on employment during the October-December quarter of 2008.
APSEZ inks MoU with IPGA to handle pulses across its ports in country
Gujarat-based Adani Ports and Special Economic Zone -APSEZ- India's largest port developer company has signed a Memorandum of Understanding -MoU- with the India Pulses and Grains Association -IPGA- to handle pulses across its ports in the country.
The MoU is intended to develop a dedicated and efficient supply chain for pulses, using strategically located Adani Ports' facilities to all key consumption centers in the country to ensure the smooth and cost efficient availability of this key protein source. Adani has developed the world class facilities for an agricultural market place at its all ports. It has largest dedicated covered warehouse space inside ports for Agri goods.
Cabinet decisions: Ease of doing business gets a push; government clears two ordinances
The Cabinet cleared two ordinances for expeditious settlement of commercial disputes that would improve ease of doing business in the country. It gave its nod to ordinances to amend the Arbitration and Conciliation Act and bring into force the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015 pending before a Parliamentary standing committee
The latter would enable setting up of commercial benches in high courts for expeditious resolution of disputes. The Department Related Standing Committee on Law and Personnel was to table its report on the Bill in Parliament by end-July. However, it was granted a month's extension till August 30. The panel has now sought a fresh extension till November 30.
After being referred to a Rajya Sabha Select Committee during the United Progressive Alliance's tenure, the Bill was sent to the Law Commission. Based on the law panel's recommendations, the National Democratic Alliance government re-drafted the Bill as part of its ease of doing business initiative.
The ordinance to amend the Arbitration and Conciliation Act is aimed at making India a favourable place to settle disputes through arbitration. The Cabinet move came amid companies such as Vodafone choosing overseas courts for this purpose.
RBI unveils gold monetisation scheme norms
To cut down on the import bill, the Reserve Bank of India (RBI) on 22nd October announced a gold monetisation scheme (GMS) that allows individuals, trusts and mutual funds to deposit gold with banks and earn an interest on it. Prime minister Narendra Modi will launch the scheme on November 5.
The RBI said the minimum deposit under the scheme should be raw gold equivalent to 30 grammes of 995 fineness. The central bank has not fixed a maximum limit for deposit.
The designated banks will accept gold deposits under the short-term (one to three years) bank deposit as well as medium-term (five to seven years) and long-term government deposit schemes (12 to 15 years). There will be a provision for pre-mature withdrawal, subject to a minimum lock-in period and penalty to be determined by individual banks.
The GMS will replace the existing gold deposit scheme, started in 1999. However, the deposits outstanding under the old scheme will be allowed to run till maturity unless the depositors prematurely withdraw them. The deposit certificates will be issued by banks in equivalence of 995 fineness of gold. The principal and interest of the deposit under the scheme will be denominated in gold.
The short-term bank deposits will attract applicable cash reserve ratio and statutory liquidity ratio (SLR). However, the stock of gold held by the banks will count towards the general SLR requirement.
Water and sewerage plans worth Rs 2,786 cr in 89 AMRUT cities
Aiming at ensuring water supply and sewerage facilities in urban households, Urban Development Ministry has cleared plans worth over Rs 2,700 cr in 89 cities under Atal Mission for Rejuvenation and Urban Transformation (AMRUT).
The Ministry has approved state-level action plans under AMRUT for providing water supply and sewerage connections for 89 cities in the states of Andhra Pradesh,Gujarat and Rajasthan
An inter-ministerial Apex Committee of AMRUT chaired by Urban Development Secretary Madhusudhan Prasad has cleared the plans worth Rs 2,786.28 cr involving 143 projects in 89 AMRUT cities in the three states.
These include 47 schemes relating to ensuring water supply connections and augmenting water supply and 31 projects for expanding sewerage network services in identified cities and towns. The rest pertain to storm water drains, urban transport and green spaces and parks.
Sewerage projects got a lion share of Rs 1,471.07 cr followed by Rs 1,225 cr for water supply related schemes.
The Apex Committee of AMRUT approved State Annual Action Plans (SAAP) for the three states for 2015-16. Gujarat proposed SAAP entailing an investment of Rs 1,204.42 cr followed byRajasthan - Rs 919 cr and Andhra Pradesh proposing an investment of Rs 662.86 cr.
Under the SAAP approved, Gujarat will take up sewerage projects in 25 AMRUT cities at a cost of Rs 916 cr and water supply schemes in 11 cities with an investment of Rs 233.65 cr.
Rajasthan will take up sewerage schemes in 6 cities at a cost of Rs 555 cr and water supply projects in 10 cities at a cost of Rs 344 cr. Andhra Pradesh will focus on water supply in 26 AMRUT cities at a cost of Rs 646.29 cr and provision of green spaces and parks in 30 cities at a cost of Rs 16.57 cr.
Under AMRUT, Central Government will provide an assistance of 50 per cent of project cost for cities with a population of up to 10 lakhs each and one third of project cost for cities with a population of above 10 lakhs each. Rest of the project cost has to be borne by the states and urban local bodies. As per these norms, central assistance for the approved projects in three states comes to Rs 1,356.23 cr.
Government exempts banking correspondents under PMJDY from service tax
The Government has exempted services provided by a business facilitator or a business correspondent to a banking company with respect to basic savings bank deposit accounts covered by Pradhan Mantri Jan Dhan Yojana (PMJDY) from payment of service tax.
Further, services provided by any person as an intermediary to a business facilitator or a business correspondent for these services have also been exempted from service tax.
PMJDY, a national mission on financial inclusion, was announced by Prime Minister Narendra Modi in his Independence Day 2014 speech and was formally launched by him on August 28 the same year with the main objective of covering all households with at least one bank account per household across the country.
So far, over 18.7 crore accounts have been opened under the scheme. As per RBI guidelines, the accounts that can be opened under PMJDY are basic savings bank deposit accounts (BSBDA) which can be of zero balance.
Deposit in accounts opened under the government's flagship financial inclusion programme has exceeded Rs 25,000 crore.
Government in overdrive to rein in prices of pulses
Even as retail prices of pulses continued to exceed Rs 200 a kg in some cities, the Centre stepped up its countrywide crackdown on hoarders and black marketers. The central government claims to have seized around 50,000 tonnes of pulses so far from 10 states, about 15,000 tonnes in the last few days alone.
The government is planning to create a buffer stock of about 500,000 tonnes, purchasing it directly from growers. From November, it is expected to start purchasing 40,000 tonnes of pulses through the National Agricultural Cooperative Marketing Federation of India and scale this up gradually. Some officials say a Cabinet note on this is being considered.
Earlier this month, minister of state for agriculture Sanjeev Balyan had announced a plan to purchase about 40,000 tonnes of pulses directly from farmers, for sale at a later date.
Meanwhile, preliminary rabi sowing data showed the area under pulses doubled to 0.98 million hectares as of Friday from 0.47 million hectares during the corresponding period last year, as farmers seem to have reacted to the price signals. Rabi sowing starts in October, while harvesting begins in March.
Recently, the Centre had extended the stockholding limit on pulses to include importers, exporters, departmental stores and licensed food processors.
India imports three-five million tonnes (mt) of pulses annually. In the 2014-15 crop year (July-June), consumption of pulses in the country was estimated at 23 mt, against an estimated production of 17 mt.
With an estimated 1.82 mt drop in pulses production in 2014-15, owing to drought in the primary growing regions of Maharashtra and Karnataka, the prices of pulses, led by tur, jumped sharply. In the past three months, tur prices have doubled to Rs 180-220 a kg across the country.
Since October 18, a day the Centre announced stock limits, the prices of pulses have moderated 10-15 per cent in both the spot and futures markets. Chana prices for delivery in November, for instance, fell 8.5 per cent to Rs 4,874 a quintal as of Friday, compared to its recent peak of Rs 5,329 a quintal. In wholesale markets in the national capital, urad prices fell about Rs 200 a quintal.
Exports sector providing good employment
According to Labour Bureau report, for the quarter ended March 2015, with exports contracting consistently, sectors such as leather, automobiles and gems and jewellery have begun to shift their hiring away from export-oriented units and boost employment in other areas. The textiles and metals sectors, however, are still increasing employment in their exporting units, though export growth has been rapidly decelerating.
The textiles sector, including apparels, added 1.6 lakh employees to its exporting units in the quarter. To put it in perspective, textile exports grew by 17 per cent in the March quarter of 2014 and the sector added 1.9 lakh employees to its exporting units during those three months. In the quarter ended March 2015, the sector added 1.6 lakh export-oriented employees, though export growth slumped to just 0.2 per cent.
The metals sector is following a similar trend. It actually reduced its export-oriented employment in the quarter ended June 2014 by 11,000 employees, though exports grew 22 per cent.
The metals sector is following a similar trend. It actually reduced its export-oriented employment in the quarter ended June 2014 by 11,000 employees, though exports grew 22 per cent. In the quarter ended March 2015, exports grew at a much slower 15 per cent; yet it added 39,000 employees to its workforce in exporting units. This trend of slowing export growth but increasing export-oriented employment is apparent in the previous two quarters too.
Other industries are following a more predictable path. The leather, automobiles and gems and jewellery sectors have either reduced the additions to the export-oriented workforce or downsized it. Instead, most of these sectors are favouring their non-exporting units.
The leather sector, for example, laid off 14,000 export-oriented employees in the quarter ended March 2015. This follows the retrenchment of 7,000 employees in the previous quarter. In comparison, the sector reduced just 4,000 people from its non-exporting units in the quarters ended December and March combined.
The automobiles sector added just 7,000 employees to its exporting units in the six months ending March 2015. It added 44,000 employees to its non-exporting units in the same period.
The gems and jewellery sector had added an average of 12,000 export-oriented employees every quarter until December 2014. But it added just 1,000 workers between then and March 2015.
Overall, the sectors selected by the Labour Bureau added a total of 2.6 lakh employees to their non-export units and 2.7 lakh employees to their exporting units.
Science and Technology:ISRO's ANTRIX to launch 6 Singapore satellites
ISRO is gearing up for 6 Singapore satellite launches including a 500 kg earth observatory satellite by mid-December this year
There is shortage of launches in 1,000-1,500 small to medium-sized satellites segment and space agencies will launch satellites in this segment in coming two-three years, for that purpose they will use GSLV, said Hedge. Although, there is high demand for GSLV in the international market but ISRO will focus on fulfilling national demands first, then only it will turn towards other countries.
Of six satellite, one is a 500 kg earth observation spacecraft that will be launched in December. "The 500 kg dedicated satellite (TeLOS-1) will be a commercial launch for Singapore Technologies Electronics Ltd while five other smaller satellites are from Singapore Universities
To ensure that these satellites work round the clock and transmit uninterrupted signals, all six satellites will be put in a sun-synchronous polar orbit 550 km above the earth. According to subsidiary company Satcom & Sensor Pte LTD, these satellites will be used for several purposes including monitor environment, disaster management, security purposes, maritime safety, etc.
While being proud Hedge said that Antrix made business of Rs 1,800 crore in 2014 and it is expected to beat previous year record. Hedge expects the Antrix to make business of more than Rs 2,000 crore in the current fiscal year.
Moreover, India will also launch a satellite Aisat — 900 kg dedicated communication satellite for the German space agency (GLR) from Sriharikota, Andhra Pradesh in 2016.
Recently, ISRO launched 5 British satellites while blasting India's first space observatory satellite, ASTROSAT. Till date, ISRO has assisted in 51 foreign satellite launches.
Report on climate funds says $62 bn raised in 2014-15
A recent report claiming $62 billion were mobilised as climate-finance funds in 2014-15, against the developed countries' commitments of an annual $100 billion by 2020, has caused a storm at the United Nations (UN)'s climate change negotiations in Bonn, Germany.
Developing countries, including India, have questioned the truth of the contents. They have also questioned the report coming weeks ahead of the Paris talks.
The ongoing round of talks is the last one in the UN negotiations before 196 countries meet in Paris in November for a climate-change agreement.
The report was commissioned by Peru and France to the Organisation for Economic Co-operation and Development (OECD) and a US-based think-tank, Climate Policy Initiative.
The report has said a large share of the rise in funds from 2013-14 to 2014-15 came due to a substantial increase in outflows from multilateral banks. Figures, the report added, were preliminary and open to improvement in data collection.
Those opposing the report said rich nations could, with this report, show they were living up to their financial promises and so a binding commitment from them on climate finance might not be necessary. Developing countries have been demanding legally binding commitments from developed countries.
In 2010, developed countries had committed to mobilising $100 billion annually by 2020 as a start towards their legal obligations under the UN climate change convention. Developing countries have demanded the Paris agreement should contain a road map for delivering these funds and for enhancing these over time.
Developed countries have steadfastly opposed such a road map or more clarity on their financial commitments. Instead, they prefer a political announcement on climate finance at Paris that would not be legally binding or questioned under the UN climate change convention.
Developed countries, including the US, are demanding that emerging economies India and China should provide climate-finance.
A similar controversy had arisen in 2010-12 when developed countries claimed they had fulfilled their obligations to a climate fund of $30 billion. A study by Oxfam International had concluded that only 33 per cent of those funds appeared new money and only 24 per cent of public finance was additional to existing aid promises.
World Health Organization study lists four key climate pollutants
Clamping down on four key climate pollutants -- black carbon, ozone, methane, carbon dioxide -- can help save an average of 2.4 million premature deaths annually by 2030, says a new report by World Health Organisation. The combined effect of these four pollutants on air pollution contributes to over seven million premature deaths at present.
These four short-lived climate pollutants (SLCPs) not only produce a strong global warming effect, but also impact food security and nutrition, says the report. Reducing global health risks through mitigation of short-lived climate pollutants, brought out by WHO in collaboration with the Climate and Clean Air Coalition.
Ozone and black carbon in the atmosphere can both negatively influence plant growth and agricultural productivity, it says, citing a study that found that the combined effects of climate and air pollution reduced India's wheat yield by as much as 36 per cent in 2010, with the majority of the reductions attributable to the direct effects of SLCPs.
The report noted that in countries such as India, Nepal and Nigeria, where recent economic growth and demand for electricity have not been matched by power supply, stand-alone diesel generators were a growing source of black carbon emissions, especially in areas that are off-grid or have unreliable access to grid electricity.
The large number of kilns are another source of air pollution in India and China -- the two top producers of bricks. "India alone has an estimated 100,000 kilns that employ around 10 million people," says the report, adding that bricks are often fired in traditional kilns that release high levels of heath-relevant pollutants, as the fuel used is either wood or coal.
Vehicular pollution is another top pollutant that damages the ozone, with diesel vehicles generally emitting more per km travelled than comparable gasoline vehicles, says the report, seeking a shift to cleaner transport modes.
Ahead of the launch of WHO's first climate change and health country profiles, to be released before the 2015 Paris Climate Conference (COP21) begins, the report calls upon governments to urgently reduce these pollutants. It suggests four interventions – reduction in vehicle emissions by implementing higher emissions and efficiency standards, policies and investments to prioritise dedicated rapid transit, such as buses and trains and foster safe pedestrian and cycle networks, provide cleaner and more efficient stove and fuel alternatives to low-income households and encourage high and middle-income populations to increase their consumption of nutritious plant-based foods.
Four new crab species found in Kerala
Four new crab species found in Kerala. Researchers at the Department of Aquatic Biology and Fisheries, University of Kerala, have reported the discovery of these new species from the Kerala coast, highlighting the crustacean diversity in the State.
The first of the new hermit crab species named Paguristes luculentus was collected off the coast of Kollam. It represents the ninth of the genus known from Indian waters. The species name luculentus(meaning colourful) refers to the livid living colour of the crustacean. The second species Diogenes canaliculatus is light brown or tan and named after the longitudinal furrows on the outer surface of the arm of the left chelate leg.
The narrow bodied animal lives inside a shell shaped like an elephant tusk. Both the hermit crabs belong to the family Diogenidae, which are left handed hermits because the left claw is larger.
Collected from Neendakara, Kollam, the third species Pagurus spinossior belongs to another hermit crab family Paguridae known as right handed crabs and is tan in colour. The name spinossior refers to the strong armature on the clawed legs of the species.
Sports:P V Sindhu finishes Runner-up at Denmark Open Badminton
IPL to get 2 new teams, China's Vivo Mobiles as new title sponsor
The Board of Control for Cricket in India decided to float tenders for two teams to replace the suspended Chennai Super Kings and Rajasthan Royals, which will return to the Indian Premier League in 2018. The BCCI Working Committee decided not to axe CSK and RR, serving a two-year suspension recommended by the apex court-appointed Justice RM Lodha panel for involvement in the 2013 IPL spot-fixing scandal.
The BCCI committee also confirmed beverage giant PepsiCo Inc's exit as title sponsor of IPL and its replacement by Chinese mobile phone maker Vivo Mobiles up to 2017. While BCCI did not disclose the deal amount, sources in the know said Vivo could be paying Rs. 80 crore for two years.
The BCCI said Vivo will have to give the bank guarantee in the next 10 days. The brand, which entered India in 2014, reportedly has presence across 200 cities.
Virender Sehwag announces retirement
Veteran batsman Virender Sehwag has formally announced his retirement from international cricket, more than two-and-a-half years on from his last appearance for India.
This brings down the curtains on a remarkable career in which he scored 17,253 international runs across formats.
Sehwag is the only Indian batsman to score a triple-century in Tests, and he did it twice.
With 8586 runs from 104 Test matches, Sehwag stands at fifth in India's all-time list. In ODIs, he scored 8273 runs, with 15 centuries including the second-highest individual score of 219. In 19 Twenty20 internationals, the right-hander made 394 runs. Aside from all those runs, Sehwag took 40 wickets in Tests and 96 in ODIs.
His last Test was in March 2013 against Australia in Hyderabad and his last ODI came against Pakistan in January 2013. He lost his place in the T20 team in 2012.
Govt appoints VK Malhotra as head of All India Council of Sports
Government has appointed veteran sports administrator VK Malhotra as head of the All India Council of Sports. Mr Malhotra, who quit as President of Archery Association of India after 40 years at the helm of affairs, will be given an equivalent rank of a Minister of State in the Union Council of Ministers.
The Council will be an advisory body for the Ministry of Youth Affairs and Sports and will advise the Ministry on matters relating to the promotion and development of sports and games in the country.
Pakistan withdraws from next year's blind Asia Cup in India
Pakistan on 21st October withdrew from the Asia Cup for blind cricketers to be held in India next year, claiming threats to the security of the players due to the protests faced by visiting Pakistan Cricket Board (PCB) officials. The Chairman of the Pakistan Blind Cricket Council Sultan Shah said that they would not be sending their team to India next year for the Asia Cup due to the current sentiments and environment in India.
The Pakistan Blind team has in the past traveled to India for major events. Meanwhile, the Pakistan Olympic Association has also said that it would take up the issue of security of Pakistan contingent in the South Asian Games which will be held in India also in January next year.
Saina Nehwal loses her World No.1 crown
Ace India shuttler Saina Nehwal on 22nd October lost her World No.1 crown to All England and World Champion Carolina Marin of Spain. This follows Saina's early second round exits at the recent Japan Open and Denmark Open tournaments. In the latest Badminton World Federation (BWF) ranking list released, Saina dropped to No.2 spot. P V Sindhu, who reached her maiden Super Series final at Denmark Open remains static at World No.13.
In Men's singles, Kidambi Srikanth, Parupalli Kashyap and H S Prannoy slipped down the rankings chart to No.8, 10 and 17 respectively.
Persons in news:Munawwar Rana: Urdu poet Munawwar Rana joined the league of writers returning their awards protesting the growing intolerance in the country. He also said that he will not accept any government recognition in future.
Justin Trudeau: Justin Trudeau has been elected as Canada's new Prime Minister. Trudeau, son of country's former Prime Minister Pierre Trudeau, recorded a stunning victory in the general elections. His Liberal Party won 185 of the 338 seats in the next House of Commons ending Conservative Party's outgoing Prime Minister Stephen Harper's nine-year reign.
Brett McGurk: U.S. President Barack Obama appointed Brett McGurk as his new envoy to the coalition fighting Islamic State militants in Syria and Iraq. McGurk, a long-time White House adviser on Iraq, has been the deputy to General John Allen, who led the global coalition's campaign against Islamic State since its inception last year. Allen, who served in the U.S. Marines for more than 37 years, is retiring from public service next month.
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