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Major News and Events of 25 October 2012

What Happened on 25 October 2012

Vadra's name cleared in the land deals

Four Haryana bureaucrats stated that Robert Vadra land purchases were transparent and cleared his name in the controversy surrounding it. The deputy commissioners (DCs) of Gurgaon, Faridabad, Mewat and Palwal specified that there was no "wrong-doing" in the land purchases done by Vadra and his companies in their districts. They were asked by senior Haryana cadre Indian Administrative Service (IAS) officer Ashok Khemka on Oct 12 to inquire into Vadra's land deals in their areas since 2005. They were also directed to check if the purchase of the land had been undervalued to evade stamp duty. Khemka had sought the report by Oct 25. Khemka was transferred as the director general on Oct 11 by the Bhupinder Singh Hooda government. Though this transfer was projected as a routine affair it was apparent that Khemka was shifted as he started the investigation against Vadra's land deals on Oct 8. It has been said that Vadra had made the land purchases in a "transparent" manner and paid the stamp duty as per the prevailing collector rate in each district.

Foreign minister S.M. Krishna quits ahead of cabinet reshuffle

India's External Affairs Minister S.M. Krishna resigned on Friday. This was just ahead of what is expected to be a substantial cabinet reshuffle on Sunday. It seems he has set the path clear for the new and perhaps younger foreign minister. This is a crucial time for the nation's foreign policy and international relations. Most importantly this comes at a time when Krishna, along with two former chief ministers, faces a probe by the Karnataka Lokayukta for allegation of irregularities in the Bangalore-Mysore expressway project.

Sensex falls 133 points; banks, FMCG stocks dip

A benchmark index of Indian equities markets slumped 133 points on Friday due to selling pressure in banking and consumer goods stocks.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which started in the negative at 18,715.35 points, closed the day at 18,625.34 points,with a dip of 0.71 percent or 133.29 points from its previous day close at 18,758.63 points.The wider 50-scrip S&P CNX Nifty of the National Stock Exchange also declined 0.72 percent at 5,664.30 points.There was selling pressure in consumer durables, FMCG, banking and PSU stocks.Most of the BSE sectoral indices closed in the red. The consumer durables index of the BSE dipped 2.84 percent. FMCG index fell 1.78 percent, healthcare index fell 1.20 percent, PSU index declined 1.15 percent and the banking index dipped by 0.92 percent.Hindustan Unilever's stocks slumped 2.14 percent at Rs.551.75.

19 nations to participate in Indian Ocean Rim meet

Delegates from over 19 countries will attend the Indian Ocean Rim - Association for Regional Cooperation (IOR-ARC) meet at Gurgaon from Oct 29 to Nov 2. There will be about 100 delegates, including foreign ministers, ambassadors and media representatives.External Affairs Ministry (MEA) Secretary Sudhir Vyas stated that the motive behind the meet is to project Gurgaon and India as an economical and financial power.The IOR-ARC association includes 19 member-states such as Australia, Bangladesh, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, Seychelles, Singapore, South Africa, Sri Lanka, Tanzania, Thailand, the United Arab Emirates and Yemen.

BCCI invites bids for IPL title sponsorship

The Board of Control for Cricket in India (BCCI) has invited bids for the title sponsorship for Indian Premier League (IPL).The tender documents, priced at Rs.2 lakh, will be available from Saturday at the BCCI headquarters at the Cricket Centre in Mumbai.The title sponsorship rights will be given for a period of five years from 2013 to 2017. DLF had the previous rights from the inaugural season in 2008 to 2012.

Wait of 27 years for a fan to meet Big B

Amitabh Bachchan was at the loss of words after meeting a fan from eastern European nation Moldova, who had waited 27 years to meet him. She had 27 roses and other gifts for him. Moldova is a landlocked nation between Romania and Ukraine.He said he couldn't express his feelings when he sees love and affection of people from all around. He also mentioned that there was another Russian fan who became a drug dealer to earn enough money to come to India to meet him and she got caught in the process.

Nokia Lumia 510 to release in India in November

The Nokia Lumia 510 in India will release in November. The cost of this handset is in the same range as the Samsung Galaxy Y and the Galaxy Pop S5570. Unlike these two models this will come with the Windows 7.5 OS and will have a Snapdragon S1 processor.The Live Tile layout seen in all Windows Phone devices will also be there on this phone. There is the People Hub tool that brings contacts and updates from different social networking websites at one location. The Lumia handset will come loaded with Microsoft Office tools, Internet Explorer 9, Nokia Maps, Nokia Drive and Nokia Transport.

Employees call off strike, Kingfisher to fly again next month

Kingfisher Airlines employees on Thursday entered into a wage settlement with the management. There are hopes that the grounded fleet would fly by next month. The employees were given an assurance of four months payment of salary before the year-end. This ended the 25-day strike at the cash-strapped carrier.The company's top management had a meeting with the pilots in the morning and the ground handling and engineering staff later in the day to convince them to return to work at the earliest.

Petrol, diesel prices to rise

Prices of petrol and diesel will rise slightly after the government's decision to increase the commission paid to petrol pump dealers by 30 paise per litre for petrol from Rs.1.499 perliterto Rs.1.799 a litre and by 18 paise a litre for diesel from 91 paise to Rs. 1.09 a litre. This will be effective from Thursday or Friday.Petrol's price is at Rs.67.90 per litre in Delhi and diesel Rs. 46.95. After the hike, petrol it will cost Rs.68.2 per litre and diesel Rs.47.13 a litre. The previous hike in dealer commission was in July 2011, when the hike was 28 paise on petrol and by 15.5 paise on diesel.

NALCO's Q2 net profit dip by 96 percent

The state-run National Aluminium Company Limited (NALCO) reported about 96 percent slump in net profit, to Rs.5 crore, for the second quarter which ended on Sep 30, 2012, compared to Rs.139 crore in the same quarter of the previous fiscal. This was primarily due to supply disruption and poor quality of coal during the rainy season. The net operating cost increased as imported coal, purchase of power from state grid and use of heavy fuel oil (HFO) in higher quantities, the net operating cost of the company increased by Rs.149 crore during the quarter.The net sales is marginally higher at Rs.1,586 crore, in comparison to Rs.1,584 crore in the quarter of the previous fiscal.

Microsoft launches Windows 8 in india

Global software giant Microsoft launched its Windows 8 version of the operating system in India as a part of its worldwide launch.The bundled version will be present in tablets, laptops and ultra notebooks from 14 OEM (original equipment manufacturer) partners,that includes Acer, Dell, Fujitsu, HCL, Hewlett Packard, Lenovo, Samsung, Sony, Toshiba, Wipro and Zenith Computers. 250 Windows 8 enabled devices, that includes 23 new SKUs (stock keeping unit) of Windows 8 PCs are available across 100 cities and over 2,500 retail stores.

Schumacher overwhelmed by fan support in India, Grand Prix kick-starts from Oct 26

Michael Schumacher on his last visit to India as a Formula 1 driver is surprised with the warm response he has got here. The seven-time World Champion has four races left in his amazing career after he announced his retirement earlier in the month.The German, stated ahead of Indian Grand Prix over the weekend, that this time his decision for retirement is final. He had earlier come out of retirement. He said he never thought he would be so popular in India and he expected only a small group of fans will know him.

Speeding race cars,maneuveringthrough tight curves deafening noise, all will be the notable feature for the Buddh International Circuit (BIC) this time at the Indian Grand Prix from Oct 26-28. There are high expectations from the event among the people.

Hundreds mourn Jaspal Bhatti's death

The famous comedian,actor and the satirist Jaspal Bhatti died in a car accident in the early hours of Thursday morning when his car hit a tree on the highway. He was on a 40 day tour to promote his movie "Power Cut" which is to launch his son Jasraj. Hundreds attended his cremation at Chandigarh. In the accident his son and the film's female lead was also injured. His son was later on discharged from the hospital and lit his father's pyre.

Narayana Murthy receives 2012 Hoover Medal

N.R. Narayana Murthy, co-founder of Infosys, who has been engaged in various initiatives to give back to the country utilizing his business success has been named recipient of the prestigious 2012 Hoover Medal. He got the honor at the Global Humanitarian Technology Conference in Seattle, Washington.The Hoover Medal established in 1930 is an endeavor to recognize unselfish,remarkable, non-technical services by engineers to humanity. Former US presidents Herbert Hoover, Dwight D. Eisenhower and James Earl Carter have earlier got this award. Murthy is the 70th recipient of the medal and he got the honor for setting up a foundation noted for outstanding improvements in healthcare, social rehabilitation, rural uplift and education.

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