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Major News and Events of 05 October 2015

What Happened on 05 October 2015


Delhi Secretariat to run on solar energy

The Delhi Secretariat will be the first in the country to run completely on renewable and solar energy, the Delhi government announced. "The Delhi government in association with ministry of new and renewable energy (MNRE) will set up a three MW solar power plant at the Indraprastha Power Station," an official statement said. "The plant will directly supply power to Delhi Secretariat for the next 25 years, making Delhi the first state secretariat running completely on renewable and green energy," the statement said. Source: IANS

Financial crunch hits Metro project in Ghaziabad

The extension of Delhi Metro to Uttar Pradesh's Ghaziabad town is facing a financial crunch, a top government official said. Principal Secretary (Housing) Sadakant told the media that the crisis was forcing the government to review the project.Delhi Metro had planned to extend its network from Delhi's Dilshad Garden area to New Bus stand. Sadakant said the municipal corporation, the housing board and the Uttar Pradesh State Industrial Development Corp Ltd were not financially sound to contribute their share in the Rs.1,480 crore project. Source: IANS

Sachin Tendulkar expected to pep up Kerala Blasters

For Kochi Blasters, the campaign in the second edition of the Indian Super League (ISL) starts on Tuesday when they take on North East United FC (NEFC), with the presence of cricket icon and co-owner Sachin Tendulkar in the stands expected to give the players and home fans some much needed adrenalin. The weather has played truant in recent days with rains at regular intervals, and with thunderstorms forecast for Tuesday a free flowing match is most unlikely. Source: IANS

eBay India to expand refurbished products portfolio

E-commerce company eBay will expand its refurbished devices portfolio to electrical goods this month and increase sales in the category, the company said. "We are scaling up the refurbished products category to include white goods. We have seen a 100 percent rise in demand for such goods since we introduced it in August," head of retail exports and lifestyle category at eBay India, Navin Mistry, said. There were 6,000 refurbished product listings in August which has grown to 20,000 product listings, he said. Source: IANS

Indian tech industry confident of touching $350 bn revenue by 2025

Despite new challenges in the digital space, the Indian technology and services industry is on-track to reaching its goal of $225 billion in revenue by 2020 and further $350 billion by 2025, Nasscom chairman B.V.R. Mohan Reddy said. "The industry is well on track. We will achieve the target of $225 billion revenue by 2020 and $350 billion by 2025," Reddy told reporters at a press meet. He also said that the National Association of Software and Services Companies (Nasscom) was thinking of rebranding itself. Source: IANS

Indian GDP predicted at 7.5 percent in 2015-16: World Bank

Improved investor sentiment and resilience to external shocks are expected to increase India's GDP growth rate to 7.5 percent during 2015-16 and further to 7.8 percent in the next fiscal year, predicts the World Bank. The Gross Domestic Product (GDP) growth, as per the bank, is lifted by cheap oil prices and the country's limited exposure to the global financial turmoil."However, delays in the adoption and implementation of key reforms could affect investor sentiment. A weak trade performance and financial sector vulnerabilities could also hold back GDP growth," said the World Bank in a statement. Source: IANS

Militant killed in Kashmir gunbattles

A militant was killed on Monday as two gunbattles started in Jammu and Kashmir's Kupwara district. "One militant was killed in an encounter between the security forces and militants in Darpora today (Monday)," a senior police officer said. "Another encounter is going on in the Hafruda forests near the Line of Control (LoC) in Kupwara." Source: IANS

Vote count postponed indefinitely in three Bengal civic bodies

Amid mounting protests over allegations of violence and rampant malpractices during the local body polls, the West Bengal State Election Commission on Sunday decided to postpone the vote count indefinitely in three civic bodies. "We have decided to put on hold the vote count indefinitely as we have received some allegations. We have also watched some incidents in our web cameras. We have also got some information through SMS from the presiding officers. So we have taken the decision so that we can look into these thoroughly," state election commissioner Sushanta Ranjan Upadhyay told media persons. Source: IANS

India, Germany to cement ties during Modi-Merkel meet

India and Germany would seek to give a fillip to their close ties when German Chancellor Angela Merkel and Prime Minister Narendra Modi meet here on Monday, their second bilateral meeting after six months, during which trade, security and the India-EU trade agreement are expected to figure. Merkel, who arrives here on Sunday night, is on an India visit October 4-6. She will be accompanied by a large delegation comprising cabinet ministers, and businesspersons, and will also be visiting Bengaluru. Source: IANS

Google patents holograms for eye-wearable Glass

Google has filed a patent application to use holograms on its eye-wearable device Google Glass that will improve the augmented reality experiences that allows computer-generated imagery (CGI) to interact with the real world. To make "smart" eyewear, allowing projected content to interact and react to the real-world behind it is the key.The new patent titled "Lightguide With Multiple In-Coupling Holograms For Head Wearable Display" details how Google can do this with augmented reality via holograms, TechCrunch reported. Source: IANS

Now Moody's says gas price cut will impact investment

Another global ratings agency Moody's has said the sharp hike in natural gas prices notified by the Indian government will not only impact the state-run Oil and Natural as Corp (ONGC) the most, but also discourage new exploration investments and fuel imports. "The gas price reduction is credit negative for upstream producers ONGC and Oil India Ltd. because it will lower their revenues and cash flows, which are already declining from low oil prices," an article by Moody's Credit Outlook said. Source: IANS




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