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Major News and Events of 06 January 2015

What Happened on 06 January 2015


Crude Oil Price Drops below $50; Global and Indian Bourses Bleed Profusely

As international crude oil prices kept moving downwards and went below $50 per barrel mark, global financial markets became jittery.  While 500-stock index of Standard & Poor's shed 1.83 per cent (37.62 points), Dow Jones industrial average went down by 1.86 per cent (331.34 points). Vix, which measures fear perception of Wall Street by measuring market volatility, jumped 12 per cent. Indian bourses followed global trends and bled profusely. While NSE Nifty fell by 180 points, BSE Sensex shed more than 600 points.    

Arvind Panagariya becomes Niti Aayog's Vice Chairman

Arvind Panagariya, a renowned economist who teaches at US’s Columbia University, has been appointed Vice Chairman of the newly constituted planning body - Niti Aayog, which was formed after replacing 65-year old Planning Commission. Panagariya is widely known as a free market economist, who worked as Asian Development Bank’s Chief Economist earlier. He also worked for WTO, IMF, World Bank, and UNCTAD. While Indian PM will be the Chairman of Niti Aayog, four central ministers (Arun Jaitley, Rajnath Singh, Radha Mohan Singh, and Suresh Prabhu) have been appointed as Ex-Officio members.

Coal Unions Call 5-Day Strike; Expected to Hit Power Supply

All the coal Unions have together called a 5-day strike that will lead to complete shutdown of coal production across all coal fields of Coal India. CIL management has asked the 5 major unions to call off their strike as it will lead to adverse effect on power supply. Per official estimates, this 5-day strike that starts today will cause a production loss of 1.5 million tones every day. Meanwhile Electricity Employees Federation of India, union of electricity workers, have supported the demands of coal workers and supported the strike.

NaMo to Address more than 12 BJP Rallies during Delhi Assembly Polls

As per available information, Narendra Modi is expected to address more than 12 BJP rallies in Delhi this election season, expected to take place during mid-February, and his main thrust will be to address more than 6 million people living in the unauthorised colonies of Delhi. BJP is confident about winning over residents of these colonies because of the recent decision of union cabinet of regularising illegally settled colonies till 1 June 2014 in the capital city. BJP hasn’t yet announced their chief ministerial candidate and therefore the party is expected to rely entirely upon Modi juggernaut once again.     

Arun Jaitley hits back at Congress

Arun Jaitley, Finance Minister, has hit back at Congress by saying that the latter is persistently making arithmetic blunders for the last 7 to 8 months. His reaction comes at a time when INC is trying to win back middle class voters by raising the ante against Modi government on fuel price issue. While replying on the allegations of Congress that the government has not passed on the benefits of falling international crude oil prices to the consumers, Jaitley said that his government did pass on the benefit to the consumers in entirety on 8 occasions out of 11.     

India's Sharp Reaction on Release of Funds to Pakistan forces USA to Issue Statement

India reacted sharply after Pakistani reports claimed that $532 million of funds were approved by the US Congress under Kerry Lugar Act. Pakistan’s report has serious implications as the concerned act needs certification of Pakistan’s action on Jaish-e-Mohammad and Lashkar-e-Taiba for release of funds. India reacted sharply by saying Pakistan is not restraining from taking action against Al-Quida and LeT. India restrained from criticising the US. Jen Psaki, spokesperson of US State Department, denied any kind of certification or release of fund to Pakistan since 2013.  

Pakistan Shelling Continues; Villagers Residing near Border Areas Flee

Pakistan continued violating ceasefire and started firing and shelling across the border afresh. It is reported that 45 Indian posts have been targeted by the Pakistani Rangers that led to killing of one BSF jawan in Hiranagar yesterday. Ground reports indicate that more than 10,000 people living in the place fled their homes. Dr Shahid Iqbal Choudhary, DM of Khatua said that the administration has prepared evacuation arrangement of 15,000 people.

TMC Slapgate Convict Levelled with Attempt to Murder Charge

Attempt to murder charge has been leveled on the 25-year youth, Debashish Acharya, who slapped nephew of TMC supremo and CM of West Bengal during a TMC rally in East Midnapore district of West Bengal. State police has identified Debasish as a supporter of RSS. However, no charges have been levelled on the TMC workers who beat Acharya causing multiple fractures. While Siddharth Nath Singh of BJP has said that TMC is trying to politicise the issue, Mamata Banerjee asked her supporters to restrain from violence.

Ex-Punjab CM's Assassin Nabbed

Jagtar Singh (who is also known as Tara), assassin of Beant Singh, ex-Chief Minister of Punjab, is reported to be arrested by Thai police. It is learnt that Thai Police made the arrest on tip-off received from police department of Punjab. KPS Gill, former Director General of Police, has applauded the good work done by Punjab police. Jagtar Singh, Khalistan Tiger Force’s self acclaimed chief, made a sensational escape from Chandigarh’s Burail Jail in 2004.

Samsung Expected to Launch Galaxy A3 and A5 in Today's Press Event

Samsung has organised a press event today in Mumbai. Analysts believe the technology behemoth is all set to launch its style-centric smartphones – Samsung Galaxy A3 and Galaxy A5 - that the company launched globally in October 2014. These two handsets were first introduced in China in November last year but made it to the market only in December due to supply issues. While Galaxy A3 is expected to be priced around Rs. 20,000, Samsung Galaxy A5 is expected to have a price around Rs. 25,000.

Sports Ministry Recommends Saina's Name for Padma Bhushan as a 'Special Case'

After India’s ace shuttler Saina Nehwal expressed her displeasure publicly, when her name was not considered for Padma Bhushan award, Sports Minister Sarbananda Sonowal briefed media that his ministry has recommended Saina’s name for the coveted award as a ‘special case’. Meanwhile, Saina Nehwal has clarified that she expressed her displeasure only because her name was not recommended and didn’t demand Padma Bhushan award.

Yuvraj Singh Kept Out of Gavaskar's 15-Member Team for WC'15

Hero of 2011 World Cup Cricket, Yuvraj Singh, has been left out from the 15-member team, prepared by cricket legend Sunil Gavaskar, for the upcoming World Cup Cricket tournament, scheduled to start on February 14, 2015. Except for Yuvaraj, there were not many surprises. Some of the most important names in the list include Rohit Sharma, Shikhar Dhawan, Suresh Raina, Virat Kohli, MS Dhoni, Mohammed Shami, Bhuvneshwar Kumar, and others.




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