A R Rahman- 2 Oscars + 23 other news items-read on!…WEEKLY NEWSLETTER FOR THE WEEK ENDED 6th FEBRUARY 2010
A R Rahman Oscar- 2009
1) AR Rehman won 2 Grammy awards for his ” Jai Ho ” of Slum Dog Millionaire fame for the best compilation soundtrack album and for the best song. Both awards were in the category of motion picture / television /other visual media . This is his first Grammy and he shared it with lyricist Gulzar and Tanvir Shah who penned the Spanish score of the hit song.
2) For the second consecutive month, exports registered an increase of 9.3 % in December 09. Imports also turned positive at 27.2 % in December 09 after 11 straight months of decline. For the 9 month period ending December 09 , exports declined by 20.3 % to US $ 117.56 billion compared to the same period the year before and similarly imports declined by 23.6 % to US $ 193.82 billion in April-December 09 compared to the year before.
3) WTO negotiators have started negotiations in Geneva to iron out difficulties in that are standing in the way of the conclusion of the Doha round of trade talks . Global leaders have been seeking completion in 2010.The talks will last 3 months and the problem areas are :
· High level of farm subsidy in developed countries.
· Demand for better market access for industrial products in developing countries.
· Level of farmer’s protection in poor and developing countries like India.
4 ) The 40th World Economic Forum concluded in Davos . The main talking points at the summit were
· The need for reforms in the Banking sector particularly compensation levels in the finance sector and such reforms are to be coordinated globally to avoid giving anyone a competitive edge. ” we need global rules to deal with global problems ” was the comment of European Central Bank chief Jean-Claude Trichet .
· Irrespective of the rosy forecasts of economic recovery , political and business leaders cautioned that the world is not fully out of the woods.” Growth remains fragile “remarked the IMF boss Dominique Strause-Kahn. He was of the view that the recovery was partially due to the stimulus packages pumped in by US and other world governments,
· Greek Prime Minister George Papandreou was at pains to deny that the Euro crisis in Greek will force it out of the Euro.
· Former US President Bill Clinton joined other AID agencies in exhorting member countries to rush aid to Haiti and help it ” rise from the ashes ”
· Bill Gates has pledged US $ 10 billion in this decade for research and to deliver vaccines to the poorest countries. He wants this decade to be known as the ” decade of vaccines ”
5 ) In a strange administrative action , the Congress ruled State of Meghalaya has appointed a second Chief Ministers. DD Lapang became the Chief Minister after the elections in 2008 with the customary statutory powers . Now the party’s state unit chief , Friday Lyngdoh will also be the Chief Minister without any statutory authority but will enjoy the benefits and status of a Chief Minister. It is believed that this was done to quell dissent.
6 ) In a year that saw many banks collapsing , 20 Indian banks including 4 private sector banks figure in the top 50 in Brand Finance @ Global Banking 500 , an annual international ranking of banks as per their brand value. Compiled by UK based Brand Finance Plc, SBI is placed at rank no 36 with a brand value of US $ 4551 million .They were ranked 70 last year with a brand value of US $ 1448 million. ICICI is in the second place amongst Indian banks at rank 70 with a brand value of US $ 2164 million. They were ranked 110 in 2009 with a brand value of US $ 939 million ( For bank students the full list of the 20 banks will be sent separately )
7) In keeping with Copenhagen resolutions on climate change , India has formally submitted to UN Framework Convention on Climate Change ( UNFCCC) that it will endeavor to reduce carbon emissions intensity ( CEI )by 20% -25 % in 2020 compared to 2050 through domestic mitigating actions which will be purely voluntary and not legally binding ( CEI refers to amount of CO2 emitted for each unit of GDP. Linking emissions to GDP is advantageous to India as it does not impose a absolute cap on emissions and will not ,therefore, stand in the way of industrial growth) Agriculture has been kept out of these targets and will not be part of the domestic mitigating actions.
Peugeot Citroen , Europe’s second largest automaker will recall 90,000 Peugeot 107 and Citroen CI models due to gas pedal related problems. The cars were made at a plant in Czech Republic where Toyota and Peugeot Citroen jointly manufacture small cars . The plant is , however , managed by Toyota.
9) Putting behind them their lackluster performance last year , and duplicating the stellar performance of the large scale sector , SME’s in India recorded a 25 fold increase in net profit for Q III in 2009 compared to the same period last year. India Inc as a whole had recorded an increase of 62 % in the same period.
10).Salil Shetty , an Indian who headed the UN Millennium campaign, has been selected as the next Secretary General of Amnesty International . He will be the first Indian to occupy this post and replaces Irene Khan who relinquished the post on 31st December 2009 after serving for 8 years .Shetty takes over on 30th June 2010.
11) Noted Malayalam film comedian Cochin Hanreefa passed away at the age of 58.
12) GOI announced a 5 member panel headed by a former supreme court judge Justice BN Srikrishna to go into the issue of a separate state for Telangana. No time frame has been set for the submission of the report. Terms of reference are yet to be drawn up.
13)Kirit Parekh committee set up to go into the issue of fuel pricing has submitted its report to GOI recommending that petrol/diesel prices be deregulated.
14) The former Military Secretary to the Army Chief of Staff, Lt.General Avadesh Prakash , who retired on 31st January and who was court martialed in a land scam just days before retirement will challenge the order in the Armed Forces Tribunal. He was court martialed after an unprecedented intervention by the Defense Minister who disagreed with the recommendation of Army Chief to let him off with a minor punishment. Lt.Gen Avadesh Prakash is one of the highest ranking officers to be court martialled in the Armed forces.
15) India and UK have agreed on a civilian nuclear cooperation deal that is likely to be signed soon , possibly within a week
16) In a one more step that will operationalize the land mark Indo-US nuclear deal, President Obama has declared that India has placed its nuclear facilities under ‘safeguards’. Further unfinished business includes reaching an agreement on reprocessing of spent fuels and India passing legislation to assure liability protection for American Companies participating in our nuclear programme.
17 ) In welcome news for bank PO aspirants , SBI has decided to treble its branch network in this decade. Financial inclusion, rising incomes and growth imperatives are the driving force behind this decision. At present the SBI has 12207 domestic and 141 overseas branches while the remaining are with their associate banks.
18) Swiss sculpture ‘ Walking Man 1 ‘ by Swiss modern master Alberto Giaccometti created art history by netting the highest ever amount of US $ 104 million in an auction in Sotheby’s in London.
19) Indian Meteorological Department has declared 2009 as the warmest year since 2001, the year from which IMD started keeping such data. IMD has declared the average annual mean temperature in 2009 to be 1 degree Celsius higher than the rest of the century.
20) GOI has extended the ban on Students Islamic Movement of India(SIMI) by 2 more years.
21) Because of safety concerns, Uttrakand has banned Bt brinjal even before GOI announcing its decision on the issue
22)Roger Federer dashed the hopes Andy Murray , the 4th seeded Britisher to end a 74 year drought for British men at grand slam finals ( Fred Perry was the last Englishman to win a grand slam final when he took the Wimbledon singles crown in 1936 ) by defeating him in straight sets to win the Australian Open men’s singles title. Leander Paes and Cara Black of Zimbabwe took the mixed doubles crown . This was Leander’s 11th Grand Slam title thereby equaling the record of Mahesh Bhupathi.
23) A double century by Yusuf Pathan steered West Zone to a historic 3 wkt win over South Zone in the Duleep trophy finals held at Hyderabad by successfully chasing a record second innings total of 541, the highest ever successful chase in first class cricketing history.
