Major News and Events of 06 October 2014
What Happened on 06 October 2014
'Big Billion Day' Discount Sale of Flipkart became Headline for Wrong Reasons
Indian Companies Generate Higher Cash from Operations than Capital Expenditure
FCCBs become Attractive Again
Apple Phone Prices Announced
Abhinav Bindra Organises Shooting Camp at SAI Bangalore
Shiv Sena Lashes out at BJP over Respect to Bal Thackeray
Congress asks Modi to do Homework Properly before Making Statements
Ceasefire Violation by Pakistani Rangers Kill 5 Villagers and Injures 29 along International Border in Jammu
Satyameva Jayate's Third Season starts with Sports Theme
Special Group of Officials Monitoring Prices of Essential Goods
Supposed TMC-Terrorist Link Corners Mamata Government
RBI’s foreign exchange reserve fell by $1.42 billion to close at $314.18 billion for the week that ended on September 26. During June 2014, the FE reserve was at $313.54 billion during the week ending on June 13.
Flipkart’s ‘Big Billion Day’ Discount Sale became the most talked about issue on popular social media sites but for all the wrong reasons. The sale started on October 6 at 8 am. Many buyers said that the discount was not genuine as the actual price was inflated in the last few days. There were many server errors and the customers complained of not being able to make purchases despite multiple attempts.
Since the 2008 Lehman crisis, free cash flows of Indian companies improved significantly during 2013-14. Fresh borrowing for fund expansion was done away with as BSE 500 companies garnered more cash from operations (Rs 4 lakh crore) than capital expenditure (Rs 3.32 lakh crore). This is a marked departure from earlier years.
Indian companies are again relying on Foreign Currency Convertible Bonds (FCCBs or) unlike last two years. The scenario is changing fast as FCCBs are again getting attractive due to bullish share market and rising rupee. After Sesa Sterlite’s decision to raise $1 billion or Rs 6,000 crore through American Depository Receipts and FCCBs, it is the turn of L&T to appoint Bankers for launching $200 million FCCB issue with Rs 1,916 per share conversion.
Science and Technology
The much-awaited new Apple phones will be available in the Indian market through Reliance, Rashi Peripherals, Redington, and Ingram Micro from October 17. The 16GB, 64GB, and 128GB versions of iPhone 6 will cost Rs 53,500, Rs 62,500, and Rs 71,500 respectively in India.Under the iPhone 6 Plus category, the 16GB, 64GB, and 128GB versions will cost Rs. 62,500, Rs. 71,500, and Rs. 80,500 respectively.
The non-profit venture GoSports Foundation is organising a two-day (October 6-7) development programme in the Bangalore unit of Sports Authority of India (SAI) for India’s 30 most advanced young shooters in association with Abhinav Bindra Foundation. 30 most promising shooters were selected from hundreds of registered applications. They will be given access to Bindra’s expert team as well as quality equipment along with additional funds for boosting their career.
In an editorial in Saamna, Shiv Sena has lashed out at Modi by saying that the new found respect for Balasaheb after back-stabbing Shiv Sena just before the polls on seat-sharing issue is uncalled for. The editorial pointed out that the agenda of Hindutva, common ideology between the two parties, as well as respect for Bal Thackeray vanished for BJP at the time of snapping the 25-year-old tie.
Anand Sharma of Congress has asked Indian Prime Minister Narendra Modi to go through the facts correctly before making any statement. Modi recently said that he can help Maharashtra to catch up with Gujarat’s success. However, the fact is that the former is ahead of the latter on many counts including FDI investment, industrialisation, social indicators, and many more, the Congress leader said.
Pakistan troops resorted to heavy mortar shelling and firing at civilian areas along international border in Arnia belt of Jammu district, killing 5 villagers and leaving 29 injured. It is one of the worst ceasefire violations ever.
The first episode of Satyameva Jayate’s 3rd Season started with the episode ‘Let’s Play India’ that featured famous Indian players from all kinds of games such as Sachin Tendulkar, Balbir Singh Sr., Kapil Dev, and Yuvraj Singh. The episode highlighted the importance of sports and how it can change lives. Film icon and show host Amir Khan appealed to youngsters to get addicted by sports rather than drugs.
The Modi Government is monitoring prices of essential commodities on a regular basis so that they don’t rise unnaturally during the ongoing festive season. A select group of officials is sending updates on the prices of sugar, edible oils, rice, and wheat in four main metropolitan cities to PMO daily.
Blasts in TMC leader’s residence in Burdwan district of West Bengal may involve suspected Indian Mujahideen terrorists, who died while making IED. Items recovered from the site were allegedly destroyed by the police rather than handing them over to NIA. But state Home Secretary denied allegation of non-cooperation with central agencies. While CPI-M’s Mohammed Salim referred to the spread of fundamentalism during the TMC government, BJP’s Siddharth Nath Singh said that WB has become a safe haven for anti-national elements during the Mamata rule. Under tremendous pressure, WB CM has set up a special team for investigation.