Major News and Events of 06 February 2015
What Happened on 06 February 2015
Moody's Analytics Expects India to Grow at 6% in Q3
Market Trading Flat Today
Infosys BPO Bags Dutch Deal
US President and White House Remember Gandhi's Legacy and Point out Religious Intolerance in India
Political Parties Prepare for February 7 Showdown
Union Finance Minister Hints at Controlling Purse Strings Before Budget
US President Intends to Induct Indian American as Trade Policy and Negotiations' Advisory Committee
Ex-Director of Agni V Programme Hits Back After Removal
Toshiba USA Collaborates with Gujarat-based company to Manufacture Google's 'Ara'
Jitu Rai, Asian Games Champion and ace shooter of India, has won two gold medals in the 10m Pistol Shooting event on 35th National Games’ fifth day. On the same day, in double trap section in men’s category, Ronjan Sodhi settled for Gold. Services Sports Control Board is in the first position in terms of most number of medals won (26 Gold, 9 Silver, and 10 Bronze), followed by Haryana (25 Gold, 11 Silver and 5 Bronze) and Maharashtra (18 Gold, 22 Silver, and 17 Bronze).
Research arm of Moody’s group, Moody’s Analytics, today has published its projection report of India’s GDP growth during third quarter of the financial year 2014-15, a few days before the official advance Q3 estimates are published on February 9 by the Union Government. The projection report predicts a 6 per cent GDP growth rate during Q3 of 2014-15, which if realised in reality will be a new high since Q3 of 2011-12. Moody’s Analytics has observed in today’s report that growth of GDP will be better if upturn is witnessed in fixed investment.
Till noon, Indian bourses were trading flat as gains of TCS, HDFC, and other IT stocks were swept away by the losses incurred by select bank and automobile stocks. At 1.35pm IST, while BSE Sensex was trading at 28777.67 (a fall of 73.30 points) CNX Nifty was trading at 8,667.60 (a fall of 34.10 points). Significant gainers till noon at NSE were Cairn, HDFC, Cipla, Infy, and NMDC. The companies that bled the most today till afternoon were Tata Motors, Sun Pharma, Tata Steel, Jindal Steel, and BPCL.
Infosys BPO has made a major breakthrough by finalising a deal with a.S.R., an insurance services company from Netherlands. Per the deal, the Bangalore-based IT behemoth will provide support to a.S.R.’s back office operations. Statement about the deal also says that a.S.R.’s 87 employees are going to be transferred to Infosys BPO. Contract has been signed by Anup Uppadhayay, MD and CEO of Infosys BPO, and Jos Baeten, CEO of a.S.R. Stock price of Infosys was trading at 2,237.10, an increase of 1.97 per cent from previous close at 2.30pm IST.
US President Barack Obama yesterday while delivering his speech at annual National Prayer Breakfast meeting said that Mahatma Gandhi would have been ashamed if he witnessed the intolerances that had taken place in India. After Obama’s speech, White House today issued a statement that Mahatma Gandhi’s legacy is an inspiration for the USA and entire globe to deal with intolerance. White House National Security Council’s spokesperson, Mark Stroh, issued this statement today.
Major political parties contesting Delhi assembly election are making last minute preparation for the February 7 showdown when the capital casts its mandate. While BJP has chalked out a detailed booth management plan, AAP is reported to be using 6,000 spycams to record any attempt of other political parties to distribute liquour and cash for alluring electorates. In another incident, AAP questioned source of funds for the front page newspaper adverts of BJP published today. Aam Aadmi Party also questioned how BJP is able to publish ads today on newspapers when last date of campaign is already over.
Arun Jaitley, Finance Minister of India, today hinted at spending cuts as he said that the government is not prepared to live in debt. Jaitley also said that India is spending beyond its means and is therefore leaving large sum of debt for coming generations, which he said is not fiscal prudence. He said this while delivering his speech through video conference to a large gathering of industrialists. This statement of Finance Minister assumes paramount importance as he prepares to place his budget in a few days.
Ajay Banga, CEO and President of MasterCard, has been intended to be inducted in the Advisory Committee for Trade Policy and Negotiations by US President Barack Obama. US President’s intent was announced by White House yesterday. Obama acknowledged the contributions of the experienced Indian-American professionals. Ajay Banga is currently US-India Business Council’s Chairman. Banga did his MBA from IIM-A and his graduation from St. Stephen's College.
Former Agni V programme director, RK Gupta, has hit back at Avinash Chander (former chief of DRDO) and accused him of hatching plot of removing him from the post of Agni V programme’s Director even after Agni 5’s successful launch. DRDO had termed Gupta’s removal as routine process. However, RK Gupta said through a letter, which surfaced in media today, that if any freak accident or untoward incident happens to him or his family then Dr VG Sekaran and Dr Avinash Chander should be held accountable.
Science and Technology
Shardul Kazi, Chief Technology Officer of Toshiba USA, said that they have collaborated with Einfochips, a Gujarat-based company, to manufacture ‘Ara’, pathbreaking modular smartphone project of Google. It is learnt that the Gujarat-based company is not only helping Toshiba to manufacture chips but also verifying them.