Browse by
Month
Date

Major News and Events of 29 December 2014

What Happened on 29 December 2014


SEBI's Concerns may Cast Shadow on India's Tax-Pact with the US

Securities and Exchange Board of India has raised flag on certain aspects on tax norms in the USA, which may cast shadow on FATCA or Foreign Account Tax Compliance Act, to be signed between the US and Indian government. Sources reveal that SEBI has made it clear to the Finance ministry that the US tax norm in the current format lacks complete reciprocity. The regulatory watchdog has also asked FATCA council for ironing out the concerned issues such as complete reciprocity from the US, penal provisions, and requirement of registration.

Union Finance Minister Vouches for More Reforms in Manufacturing Sector

Arun Jaitley, Finance Minister of India, said today that one of the sectors that the government is still worried about is the manufacturing sector, which has already seen implementation of some reform measures in the last few months. While airing his views, Jaitley vouched for need of more reforms including easier way of acquiring land, reduction in capital cost, and a reformed taxation regime that is globally competitive.

Indonesia AirAsia Official says, their Flight may have Crashed in Sea; Stock Plunge

Flight QZ8501, Indonesian AirAsia (Airbus A320-200) jet carrying 162 persons, has perhaps crashed and its ruins are possibly under the sea, an official of the airliner said. The jet went missing over Java Sea just 5 minutes after the air controllers rejected permission to the pilot, who sought increase of flight’s altitude, because of heavy traffic. It is learnt that the pilot didn't issue any distress signal. The airliner that has also entered Indian market recently has said Flight QZ8501’s disappearance will not adversely affect their long term growth in South East Asia. The statement comes after AirAsia’s stocks fell sharply today, by 7.8 per cent.   

 

Vice President attacks the Idea of Homogeneous State at Inaugural Speech of IHC

Hamid Ansari, Vice President of India, has regarded the idea of ‘homogeneity’ as problematic, clearly referring to the aggressive ‘Hindutva agenda’ vouched by some ‘Hindu’ right wing groups in India. Ansari, during his inaugural speech of Indian History Congress (organised in JNU), also said that heterogeneity is witnessed in most homogenous societies too. He went on to note that according to Anthropological Survey of India, there are 4,635 communities present in India and that’s why stressed upon the age old feature of ‘Unity in Diversity’.

PM Misses Swearing in Ceremony of New Jharkhand CM

Prime Minister Narendra Modi had to abandon his plan of joining swearing in ceremony of the new Chief Minister of Jharkhand, Raghubar Das, because of poor weather conditions. It is reported that due to dense fog, PM’s flight was unable to take-off. National President of BJP, Amit Shah, who was also supposed to fly along with NaMo, missed the ceremony.  

1st Phase Civic Body Polls in Chhattisgarh Today

Civic body polls in Chhattisgarh is going to be held today across 51 bodies. It includes twenty two Nagar Panchayats, nineteen Municipal Councils, and ten Municipal Corporations. 5,130 candidates are there in the fray. The total number of registered voters are 27,58,720, among which 13,44,944 are females and 14,13,776 males. High security arrangement has been done because 199 booths are identified as highly sensitive and 1,445 booths sensitive.

Home Minister hints at Handing over Bengaluru Blast Case to NIA

Home Minister is seriously thinking about the idea of handing over yesterday’s Bengaluru blast to NIA, reports indicate. Rajnath Singh briefed the press that the central government is working closely with the state government and a report on the matter will be created in 24 hours time frame. He also said that the future course of action will be decided only after completion of the report. Union Government is considering it a terror attack, which led to killing of one woman and seriously injuring 3 others, and may hand over the case to National Investigating Agency.

 

26/11 Mumbai Terror Mastermind all set to Walk Out of Jail

Interim order of Islamabad High Court, given today, has cancelled 30-days detention notification of Zakiur Rehman Lakhvi (dreaded Lashkar-e-Toiba operative who was also the mastermind behind 26/11 Mumbai Terror attack) given by Islamabad’s Anti-Terrorism Court. After getting bail Lakhvi had challenged the detention order. It is interesting to note that the bail order came just couple of days after Tehreek-e-Taliban terrorists attacked Peshawar Army School and College and killed 150 people.

Metros on High Alert after Bengaluru Blast and Intel Tip-off

Yesterday’s low-intensity blast in the heart of Bengaluru has made security agencies work overboard. All the major metro cities including Mumbai, Kolkata, Delhi, and Pune are put under high alert. Intelligence Bureau has warned security agencies and 93 police stations that Students’ Islamic Movement of India has planned to unleash terror attack in Mumbai. Anti Terror Squad of Maharashtra has confirmed reports that a sixth person has joined the notorious 5 men SIMI group, who escaped from an Indian jail in October 2013.

Videocon Smartphone with Quad Core SoC available at Rs. 4,999

Videocon launched its new budget smartphone, Infinium Z45 Nova, at Rs. 4,999. The most important aspect in this affordable phone is that it comes with Quad Core processor (MediaTek - MT6582) powered at the speed of 1.3GHz. Infinium Z45 Nova from Videocon comes with 8GB ROM, 1GB RAM, Android KitKat 4.4.2 OS, multiple connectivity options including 3G, and 5MP primary camera with autofocus capability. Users can buy this smartphone from Flipkart.

Sourav Points out Dhoni's Weak Captaincy and Form in Overseas cricket Test Tournaments

Sourav Ganguly, one of the most successful skippers of Indian Cricket team, has opined that the current captain of India Mahendra Singh Dhoni is not as competent while playing or leading Indian cricket team in the test format, especially abroad. Ganguly also referred Virat Kohli as the future.

SEBI set to Stop Money Laundering by Listed Companies

Securities and Exchange Board of India has asked investigating agencies working under the Finance department (including income tax department, financial intelligence unit, and enforcement directorate) for seriously looking into the allegations of money laundering against many listed companies. SEBI sources reveal that many low value listed companies are allegedly evading tax and at the same time resorting to market manipulation. Available reports indicate that there are around 100 listed companies that are under scrutiny currently.