Major News and Events of 04 March 2016
What Happened on 04 March 2016
Apples eyes selling used iPhones in India
Sensex & Nifty record highest gains in 4+ years
Former Lok Sabha speaker PA Sangma passes away at 68
Poll dates for Bengal, Assam, TN & Puducherry to be announced today
TCS & Wipro collaborate with HCL in $1 billion engineering services club
Indian-American occupies prime IMF position
Sensex & Nifty expected to open on a positive note
50% quota for women in urban local bodies
The Election Commission has announced dates for assembly polls in Kerala, Assam, Tamil Nadu, West Bengal and Puducherry. Polls in these five states will kick off from 4 April 2016 as per a 42-day long process. With a total of seventeen voters exercising their franchise across 824 constituencies, results of all these polls will be announced on 19 May 2016. Out of these five states, West Bengal would have a six-phase polling regime spread over seven days.
Science and Technology
Technology giant Apple has sent an application to the ministry of environment and forests regarding import of certified pre-owned iPhones for sale in India and also manufacturing certified pre-owned iPhones for sale in India. Telecom minister Ravi Shankar Prasad informed the Parliament about the same, today. Additionally, Apple has also sent an application for approval to the Department of Industrial Policy and Promotion (DIPP) for setting up retail outlets in the country.
Both Sensex and Nifty posted their best weekly gain in more than four years. Impressive gains in Asian markets and improved risk appetite are quoted to be the reasons behind the higher edged Indian stock markets. While the BSE Sensex gained 0.16 per cent to close at Rs. 24,646.48; the broader Nifty rose 0.13 per cent to close at Rs. 7,485.35.
Early this morning, the former Lok Sabha speaker PA Sangma died of a heart attack. He was 68 years old and had served the sixteenth Lok Sabha as its speaker from 1996 to 1998. Additionally, he also served as the chief minister of Meghalaya from 1988 to 1990. Today’s Lok Sabha session had the current speaker Sumitra Mahajan reading out an obituary for the deceased leader, followed by observing a two minute silence before adjourning the house for the day.
The Election Commission is likely to announce the schedule for assembly elections in West Bengal, Assam, Kerala, Tamil Nadu and Puducherry today at a press conference to be held at 3:00 p.m. at its Ashoka Road headquarters in New Delhi. There are chances for elections to be multi-phased in West Bengal and Assam with Tamil Nadu, Kerala and Puducherry having the elections completed in a single day.
Science and Technology
Indian IT giants TCS and Wipro are likely to join HCL in the $1-billion club in engineering services. On a global front, only six service providers have been successful in crossing the $billion mark which is led by French-based engineering consulting company Altran which has made a revenue of $2.16 billion in 2015. Currently, HCL is the only Indian firm to have entered the $1-billion club in engineering services.
Independent investor Sunil Sabharwal has become the first Indian-American to occupy an important administration post at the IMF, three weeks after getting confirmed by the Denate. He has assumed the position as Alternate Executive Director of the International Monetary Fund- the most powerful designation in the International Monetary Fund(IMF). After getting nominated by US President Barack Obama in April 2014, Mr. Sabharwal was re-nominated in March 2015.
Positive trading of Nifty futures on the Singapore Stock Exchange has been quoted as the reason behind the gains in Sensex and Nifty trades today. While the Sensex has risen by over 100 points, Nifty has jumped above its vital psychological level of 7,500. Even the broader markets are witnessing profit-booking with the BSE mid-cap index slipping by 0.08 per cent and the small-cap index falling by 0.16 per cent.
The government has hinted at an increase in the representation of women in urban local bodies from the present 33% to 50% through an amendment to Article 243T of the Constitution. Women and Child Development Minister, Maneka Gandhi has called for reservation of one-third of seats for women in Lok Sabha and the state legislative assemblies.