Major News and Events of 29 October 2014
What Happened on 29 October 2014
IAF Clears Air on Xiaomi Smartphones
Infosys on its Way to Acquisition Spree
Stock Price of Eveready Industries Increases Significantly
'Ease of Doing Business' Report of World Bank Released; India Fairs Poorly
Devendra Fadnavis will be Maharashtra CM - It's Now Official
Important Portfolios Disbursed by Haryana Chief Minister
Government Formation in Delhi – Will Jung invite BJP?
Black Money Probe: Entire List Submitted before Apex Court of India
Indian and Vietnamese Companies Sign Oil Exploration Agreements inspite of Chinese Objection
Nilofar Weakens; Gujarat Administration Gets Ready
NRIs Drag ICICI Entities to Supreme Court of Mauritius
During Asian Games in South Korea’s Incheon ace Tennis players such as Rohan Bopanna, Leander Paes, and Somdev Dev Barman gave more importance to their ATP events than representing India in the international event. Therefore, India had to send second set of Tennis players to the tournament. This made Sports ministry to notify all concerned that government grants can’t be availed by the players who don’t positively respond to Sports Ministry’s needs.
Science and Technology
Indian Air Force was forced to issue statement after the smartphone customers in India got scared due to certain reports claiming that IAF had asked its personnel and their families not to use Xiaomi devices because of data security issues. AI said that the concerned alert was issued long before the Chinese smartphone company started selling their smartphones in India.
U B Pravin Rao, Chief Operating Officer of Infosys, has said that the company is planning to make lots of acquisitions. Currently, they are planning to acquire companies whose annual revenue vary from $600 to $700 million. He added that Infosys can also acquire companies with bigger annual revenue, if they meet their strategical needs.
Stock of Eveready Industries is rallying for around last one week after news emerged that the promoters of the company increased their share through open market stock buying mechanism. The stock price increased by 25 per cent since October 16 at NSE. The stock is currently hovering around Rs. 125, highest since April 2006. Massive surge in trading volumes also witnessed.
World Bank’s 2014 'Ease of Doing Business' Report was published recently. It shows India ranks at a dismal 142 position, accumulating 52.78 points, in a list of 189 countries. It slipped 2 positions from last year’s 140th rank, accumulating 53.97 points. However, the report did not consider the recent slew of reform measures undertaken by Narendra Modi government.
After Fadnavis was unanimously elected by the party MLAs as their leader, the Maharashtra BJP President along with other senior leaders such as Prakash Javadekar, Rajiv Pratap Rudy, Vinod Tawde, and Eknath Khadse visited C Vidyasagar Rao, Maharashtra Governor, and staked claim of forming the next government. After swearing in on October 31, BJP and its allies will get fifteen days to prove majority. Shiv Sena has submitted its demand for portfolios but will not be part of the seven member cabinet initially.
Haryana government is following the ‘Minimum Government, Maximum Governance’ policy of Narendra Modi. Manohar Lal Khattar, the CM, is in charge of maximum numbers of departments - Cultural Affairs, Cultural Affairs, Information Technology, Urban Estates, Home, Public Relations, and Science & Technology. One time contender for CM’s position, Captain Abhimanyu Singh Sindhu got Finance portfolio along with Industry & Commerce, Revenue, Forests & Environment, Excise & Taxation, and Disaster Management. Ram Bilas Sharma got Education, Parliamentary Affairs, Transport, Tourism, Technical Education, Civil Aviation, and Food & Supplies.
Union Government has formally notified Supreme Court that President of India has indeed given his consent to the Lt. Governor of Delhi for going ahead in inviting BJP to form the next government. However, Bharatiya Janata Party will be able to respond only if it gets a formal invitation from the Lt. Gov. Currently, Delhi is under President’s Rule and sources report that BJP is averse to fresh election now. Najeeb Jung is all set to explore the various options in the coming days before formally inviting BJP.
Union Government has submitted the entire list of 627 Indians who had HSBC Bank accounts in Geneva. Mukul Rohatgi, Attorney General, has informed that Government of France provided this list. Investigation on these accounts will be done under Income Tax Act and it needs to be completed by March 31, 2015.
Though Chinese Government has issued objections on Indo-Vietnam exploration, India’s ONGC Videsh and Vietnam’s PetroVietnam Exploration Production Corporation have signed an agreement to explore 3 oil blocks in South China Sea. The concerned blocks are located some distances away from Vietnam shore. The agreement was signed in presence of Indian and Vietnamese PMs.
‘Very Severe Cyclone’ Nilofar is expected to lose momentum by 2 levels when it hits coastal Gujarat, especially Kutch region, on Saturday (instead of earlier reports of Friday). However, high alert signals are still there for ports as well as industrial installations. Gujarat administration is taking adequate measures to deal with Nilofer. National Disaster Response Force’s 7 teams have been deployed to different districts of the state.
ICICI Bank and ICICI Venture, largest private Equity company of India, are sued by sixty nine Non Resident Indians for not meeting the return on investment promises done by them initially. Though the group of NRIs accused ICICI entities of not disclosing risks as well as performance reports of the fund to them, the concerned fund management company dismissed the allegations.