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Major News and Events of 02 September 2014

What Happened on 02 September 2014


Pullela Gopichand and Saina Nehwal Partnership on the Brink

Successful coach-player partnership between Pullela Gopichand and Saina Nehwal seems to be on the rocks for now. It has been learnt that ahead of Asian Games, Saina will be training with former India coach Vimal Kumar in Bangalore.

Enhanced Cooperation between India and Japan on Science and Technology

Prime Ministers of both Japan and India have pledged boosting cooperation in fields of science and technology. A letter of intent was signed between Japan Agency for Marine-Earth Science and Technology and Ministry of Earth Sciences of India for launching cooperation in the field of ocean and earth science and technology.

6 Ebola suspect cases reported

Health ministry has said that 6 patients suspected to have deadly Ebola virus have been placed in a quarantine facility at Delhi airport. These people were returning from the affected western African countries.

Historic Nalanda Reopens

Nalanda, ancient University of India, has been reopened after over 800 years. 15 students have enrolled themselves in this historic university.  The central government has allocated Rs 2,700 crore for the re-establishment project,which is expected to be completed by the year 2020.

Nifty breaches 8k Psychological Barrier

For the first time, NSE Nifty has crossed the 8000 mark. This has made Indian equity market one of the best performing ones this year globally. BSE Sensex has also increased by nearly 29.8 per cent in dollar terms this year. Therefore, it has also outperformed major developed as well as emerging markets. Foreign fund inflow in Indian market has been $13 billion this year.

Financial Metrics of Infrastructure and Construction Companies Improve

Financial metrics of infrastructure as well as construction companies have improved due to asset sales and fund raising in 2013-14. The combined debt to equity ratio net of cash and equivalents of leading 17 infrastructure and construction companies have declined from 3.7x  during 2012-13 to 3.5x in 2013-14.

The Central Government pleads with Supreme Court on Coal Block Permits

For minimising mass deallocation of coal blocks, the Central government has requested the Supreme Court to not cancel permits of 46 coal blocks. These blocks, termed illegal by the Supreme Court, were either going to start production or were actually functioning. 

Japan Promises $35 billion Investment in India

Japan has promised $35 billion of investment to the Indian PM over the coming five years. And, to woo Japanese investors, Modi has promised introduction of "Japan Fast Track Channel for Japanese investors in India". It seems Modi means business. While addressing Japan-India Association, Modi emphasised upon turning ‘Made in India’ into a brand, similar to what ‘Made in Japan’ has become currently.

PM vouched for Peace and Non Violence

While addressing the international community’s apprehensions on India’s not signing NPT even after being a nuclear power, PM Narendra Modi has reiterated India’s commitment towards peace by saying that non-violence and peace is ingrained in the “DNA of Indian society”, which is above all kinds of processes or treaties.

Indo-Japan Defence Cooperation receive Boost

Defence technology cooperation between India and Japan is expected to get a boost because Japan has removed names of six Indian space and defence entities from the list of “foreign end users”. The two sides agreed for a roadmap for transfer of US-2 amphibian aircraft, which also includes the transfer of its technology. Since WW-II, this is the first time Japan is selling military equipment to India.

Landmark Judgement of Supreme Court on Death Row Prisoner's Right

The Supreme Court delivered a landmark judgement today. If the petition of a death row prisoner is rejected and then the death sentence is not carried out, the convict can seek open court hearing by three judges. Also, he/she can address the court for half an hour. Currently, these kinds of issues are taken up in chambers of judges.




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