May 2013 Current Affairs List

1-May-13


World 


1. International Labour Day (also known as May Day) is observed today (1st May) across the world in order to protect rights of workers across different countries. The first May Day celebration in India was organised in Madras by the Labour Kisan Party of Hindustan on 1 May 1923. This was also the first time the red flag was used in India. May Day is a nationwide bank and public holiday in India.


2. Parliamentary Speaker Abdul Hamid has sworn in as Bangladesh President last week to replace Zillur Rahman, who passed away in March 2013. Abdul Hamid is the 20th President of Bangladesh and he will be the President for next 5 years.


3. Bangladesh got its first woman Speaker as Dr. Shirin Sharmin Chaudhury has been elected as the speaker by the Jatiya Sangsad yesterday. She was the lone candidate. Dr. Chaudhury, State Minister in the Ministry of Women and Children Affairs, was nominated earlier by the ruling Awami League-s parliamentary party. After her appointment, she will succeed Abdul Hamid who assumed presidency last week following the death of President Md. Zillur Rahman.


4. The Peshawar High Court of Pakistan has banned former army head and President Pervez Musharraf from participating in election for the rest of his life. Judges had previously banned him Musharraf from running in the parliamentary election scheduled this month. This will be a big setback for him who came back to Pakistan for political career.


India


1. Additional Solicitor-General Harin P Raval has submitted his resignation to the Union Law Minister Ashwani Kumar yesterday following the Coalgate controversy. In the CBI status report filed in the Supreme Court in March, he submitted that the draft status report was not shared with the government. But later, the CBI Director filed an affidavit stating that the report was shared with the Law Minister, a Joint Secretary in the Coal Ministry and an official in the Prime Minister-s Office.


2. According to the final census released by Home Minister Sushilkumar Shinde today, India-s total population stands at 1.21 billion, which is 17.7% higher than the last decade. India-s total population as on March 1, 2011 is 1,210,726,932 or 1.21 billion - an increase of 181.96 million persons in absolute number of population during 2001-11. There was an increase of 90.97 million males and increase of 90.99 million females. The growth rate of females was 18.3 per cent which is higher than males at 17.1 per cent.


Also, 833.5 million persons live in rural areas as per Census 2011, which was more than two-third of the total population, while 377.1 million persons live in urban areas.


3. The Finance Minister, P Chidambaram has slashed tax deduction at source (TDS) on interest payments to 5% compared to 20% earlier (for FIIs) on investments made by them in Government securities and rupee-denominated corporate bonds yesterday. Government has taken the step to cheer foreign institutional investors (FIIs) and qualified foreign investors (QFIs) to attract more foreign investment to tackle rising current account deficit.


4. FMCG giant Unilever Plc has announced that it would increase its stake in its Indian unit, Hindustan Unilever (HUL) to increase its position in emerging markets. The company plans to increase its shareholding from current 52.48% to 75% through an open offer of nearly Rs 29,000 crore. This is the biggest open offer in Indian stock market following Cairn Energy Open offer of Rs 13,000 crore.


5. The BSE and S&P Dow Jones Indices have launched an Islamic equity index named as -S&P BSE 500 Shariah index- which comprises the largest 500 companies in the Indian index. This index is the first index from the strategic partnership between BSE and S&P Dow Jones and it will represent all Shariah- compliant stocks of the broad-based S&P BSE 500 index. Shariah, an Islamic canonical law, has certain structures regarding finance and commercial activities permitted for Muslims.


2-May-13


India-s FDI drops by 19% to USD 1.79 billion in February


India foreign direct investment (FDI) dropped by 19% in February compared to same month last year to USD 1.79 billion due to global economic slowdown.  In February 2012, India had received FDI worth USD 2.21 billion and in previous month, India had received USD 2.15 billion FDI. During the April-February period of current financial year 2012-13, total FDI has dropped by 38% to USD 20.89 billion which is a big concern for Indian government considering rising current account deficit now.


India-s Core sector growth drops to 2.9% in March; RBI may cut rates


India-s eight core sector industries comprising of Steel, Crude Oil, Coal, Electricity, Natural Gas, Fertilizers and petroleum refinery products, grew by 2.9% in March compared to 3% growth in the same month last year. The drop in core sector growth was mainly due to lower production volume of natural gas (dropped by 17.7%) and lower growth of crude oil (0.3%) and coal (0.2%) sectors.


Euro zone manufacturing activity drops further in April as crisis deepens; ECB cut rates to boost growth


Euro zone manufacturing activity drops further in April as the Markit compiled Manufacturing Purchasing Managers' Index (PMI), an important parameter to judge the performance of the sector, dropped to 46.7 in April compared to 46.8 in March. Any reading lower than 50 indicates contraction in the respective sector.


Factory activity in Germany, Europe's largest, dropped for the second month in April to 48.1 compared to 49 in March which is a big concern for the policy makers. Factory activity contracted in other key euro zone economies - France, Italy and Spain as well.


At the same time, the European Central Bank (ECB) has cut its benchmark interest rate to a new record low of 0.5% to boost economic and industrial growth in the region. It has cut rate by 25 bps to 5% from earlier 0.75% and this is the record low interest since the formation of Euro zone.


World


1. The Asian Football Confederation has elected Sheikh Salman Bin Ebrahim Al Khalifa as its new President today. Sheikh Salman secured 33 of the 46 presidential votes available from AFC member associations while his competitors UAE-s Yousuf Al Serkal and Thailand's Worawi Makudi have received 6 and 7 votes respectively. After this election, Sheikh Salman replaces disgraced Qatari Mohamed Bin Hammam, who was banned for life by FIFA in 2011 amid allegations of trying to buy votes.


2. The European Central Bank (ECB) has cut its benchmark interest rate by 25 bps to a new record low of 0.5% from earlier rate of 0.75% today as the entire euro zone faces prolonged slowdown. This move was seen as important step by the central bank to boost economic as well as industrial growth.


India


1. Lok Sabha Speaker Meira Kumar has rejected the Opposition demand for removal of P. C. Chacko as Chairman of the JPC probing the 2G scam today giving reason of -absence of express provisions in rules-. At the same time, she has requested the Chairman and members of the JPC to work out an agreeable solution to end the current deadlock and place the final report before Parliament following the JPC rules.


2. Sarabjit Singh, Indian prisoner in Pakistan jail, died today morning due to cardiac arrest after 6 days of brutal assault by Pakistani Jail inmates. Indian Parliament has expressed shock at the death and condemned the -inhuman treatment- he had to face in a Pakistan jail. After this Pakistan government has handed over his body to Indian authorities and his body was flown to India by a special Indian airlines flight today evening.


3. The Supreme Court of India has upheld the constitutional validity of Government-s decision allowing 51% foreign direct Investment in the multi-brand retail sector yesterday. The bench, Justices R M Lodha, Madan B Lokur and Kurian Joseph, observed that there was no harm in giving the policy a chance and also it saw merit in the policy that it would eliminate middlemen and help provide farmers a better price for their produce.


4. A young woman scientist from Meghalaya, Jenita Mary Nongkynrih, has been selected for this year's ISRO Young Scientist Award for her urban information system project in the North East. She is is currently working as a scientist at the North Eastern Space Applications Centre (NESAC), Umiam, Nongkynrih. The award carries a citation and cash of 50,000 rupees.


5. Canadian handset maker BlackBerry (earler known as RIM - Research in Motion) has appointed Sunil Lalvani as the Managing Director of its India operations. He replaces Sunil Dutt, who quit the company in March this year. After this, he will be responsible for overseeing and driving the overall business strategy and growth for BlackBerry in India.


6. Bharti Airtel Holdings (Singapore) Pte Ltd, a wholly owned subsidiary of Bharti Airtel Ltd, has announced today that it will pick up the remaining 30% stake in Warid Group-s telecom operations in Bangladesh. After this deal, it will own 100% of Airtel Bangladesh Ltd. This is second acquisition by the Indian operator in last one month. Earlier, it had acquired Warid-s operations in Uganda.


7. Norwegian telecom giant Telenor-s Indian arm Uninor has appointed  announced Yogesh Malik as the firm's Chief Executive Officer (CEO). The company has also announced that its Managing Director Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India as the Head of Telenor Group-s Asian operations.


8. Haryana defeated Railways by 4-1 to win the third Hockey India Senior Women National Championship at the Major Dhyan Chand Stadium in the Guru Gobind Singh Sports College on Tuesday. At the same time, Jharkhand defeated Punjab by 2-1 to finish third in the championship.


3-May-13


World


1. World Press Freedom Day is observed today (3rd May) and also today is its 20th anniversary. It was first officially proclaimed during the UN General Assembly in 1993. The theme for 2013 is -Safe to Speak: Securing Freedom of Expression in All Media, a focus that includes securing a free and open internet.-


2. A senior Pakistani Prosecutor, Chaudhry Zulfiqar Ali, handling the 26/11 Mumbai attack case and Benazir Bhutto assassination case, Chaudhry Zulfizar Ali was shot and killed by unidentified gunmen today.  Ali, who was driving, was hit by several bullets and lost control of the car. His bodyguard, Frontier Corps trooper Farman Ali, was injured in the attack.


India


1. Cabinet Committee on Economic Affairs (CCEA) has given its final clearance to Swedish furniture-giant IKEA to invest Rs 10,500 crore in India yesterday. IKEA has also been allowed to sell food items in its cafeterias inside the furniture outlets. After this approval, IKEA can now go ahead with its plans to set up 25 retail stores across the country over next few years.


RBI cuts benchmark interest rates by 25 bps; kept CRR unchanged at 4%


The Reserve Bank of India has cut its benchmark interest rates by 25 bps and kept CRR unchanged today during its monetary policy review which is much lower reduction in interest rate compared to investors- expectations. The bankers and industrial body were disappointed due to this cautious stance of RBI


Repo rate, the rate at which the RBI lends to banks, is cut by 25 bps to 7.25% from 7.5% earlier and reverse repo rate is also cut by 25 bps to 6.25% from 6.5% earlier. The Cash Reserve Ratio, the proportion of deposits to be kept with RBI is left unchanged at 4% as the liquidity condition is far more improved now. 


4-May-13


 


US employment jumped more than expected in April; increases optimism


US economy has created 165,000 jobs in April as per the latest data published by the US labor department. This is much higher than the estimated figure of 145,000 by the economists. The unemployment rate also dropped to 7.5% in April which is the lowest level in four years. This data confirms that US economic growth is strong and job market is improving faster than expected.


5-May-13


India


1. CBI has arrested Railway Minster Pawan Kumar Bansal-s nephew Vijay Singla in Bribery scandal along with Mahesh Kumar, GM of Western Railways and recently promoted as Member (Staff). Vijay was arrested for allegedly accepting Rs 90 lakh in Cash on behalf of Mahesh Kumar to get him a lucrative position as Member (Electrical), Railway Board.


2. India-s largest telecom operator Bharti Airtel has announced that Doha-based Qatar Foundation Endowment (QFE) will invest USD 1.3 billion in the company. Airtel will issue about 20 crore shares representing a 5% stake to QFE at Rs 340 per share which is a 7% premium on latest closing price. This deal will help Bharti Airtel to reduce its total debt and improve its capital structure.


3. P V Sindhu won her maiden Grand Prix Gold after defeating Singaporean fifth seed Juan Gu in the womens singles final of the Malaysia Open badminton in Kuala Lumpur yesterday. The World no.13 won by 21-17, 17-21, 21-19 in just over an hour. After Saina Nehwal, P V Sindhu has become only the second Indian woman to achieve this.


 6-May-13


World


1. Najib Razak was sworn-in as Malaysia-s prime minister for the second time today, a day after his ruling coalition swept to power in the general elections. He took oath of office before King Tuanku Abdul Halim Mu-adzam Shah at Istana Negara palace. Barisan Nasional (BN) won the general elections on Sunday by a simple majority of 133 parliamentary seats, two less than the seats it held before, to opposition alliances- 89 in the 222-seat Parliament.


2. Serbian Novak Djokovic continues to lead the men-s ATP tennis rankings released today with 12,900 points. He is well ahead of Switzerland-s Roger Federer (8,670) and Andy Murray of Britain (8,570) in the ATP rankings. Spain-s David Ferrer held 4th rank (6,920) and Rafael Nada held 5th rank (5,985) in the same ranking.


3. Pakistan-s top seeded player Aamir Atlas Khan won the Asian Squash individual championship for the first time in 14 years after defeating Kuwait-s Abdullah Al Mezayan by 11-9 11-3 11-8 in straight sets in Islamabad. Pakistan had last won the Asian individual title in 1998.


India


1. India and China have finally decided to withdraw troops from Ladakh on Sunday, ending a three-week standoff between these two major Asian economies on the disputed border area where they fought a war 50 years ago. The decision was taken after reaching an agreement during a meeting between border commanders.


2. The Supreme Court has given a go ahead to the commissioning of the Kudankulam Nuclear Power Plant today as the court has observed that the plant has been set up for the welfare and sustainable growth of the people. The verdict came on a plea seeking halt to the commissioning of the Nuclear Power Plant till the implementation of key additional safety measures following the Fukushima disaster in Japan in 2011. At the same time the apex court has issued detailed directions to the government on the safety and the monitoring of the plant's operations.


3. Media website Cobrapost has said today that India-s 23 major banks and insurance companies were part of the money laundering activities. The list includes Life Insurance Corporation, State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Tata AIG, Dhanlaxmi Bank, Indian Bank, IDBI Bank, Yes Bank, Federal Bank, Reliance Capital, Birla Sunlife etc. Earlier In a sting operation in March this year, Cobrapost had exposed how key private lenders HDFC Bank, ICICI Bank and Axis Bank were helping their customers convert black money into white. This will send a fresh shock wave to Indian financial market and will need RBI to act against any such activities.


 7-May-13


 


Fortune 50 List of US Companies - 2013 (First 7)

RankCompany NameRevenues (USD Billion)
1Wal-Mart Stores469.2
2Exxon Mobil449.9
3Chevron233.9
4Phillips 66169.6
5Berkshire Hathaway162.5
6Apple156.5
7General Motors152.3

World


1. World Asthma Day is observed across the world today (First Tuesday of May, 7th May 2013) to spread awareness and care. World Asthma Day is an annual event organized by the Global Initiative for Asthma (GINA) to improve asthma awareness and care around the world. The theme will continue to be "You Can Control Your Asthma." However, this year GINA will also introduce a sub-theme, "It's Time to Control Asthma."


2. US Retailer Wal-Mart has replaced Oil and Gas giant Exxon Mobil as the biggest revenue maker on the annual list, as per the Fortune 500 list for 2013 published yesterday. Apple placed within first 10 companies for the first time compared to 17th rank last year. The combined earnings of the Fortune 500 came in at USD 820 billion in 2012, slipping from the all-time high of USD 824.5 billion in 2011.


3. British liquor giant Diageo has appointed Indian-origin and IIMA alumnus Ivan Menezes as its next chief executive officer. He will take over as new CEO with effect from 1st July this year and will succeed outgoing CEO Paul Walsh who will step down from the company's board in the annual general meeting in September and will retire from the company June 30, 2014.


4. Australia's central bank has cut its benchmark interest rate to a record low today to boost economic growth and help its struggling mining sector. The Reserve Bank of Australia (RBA) has cut its key rate by 25 bps to 2.75% from 3%. Recently European Central Bank has also cut its benchmark interest rate to record low and RBI has cut rate by 25 bps.


5. Ronnie O'Sullivan won his fifth world snooker title yesterday after defeating Barry Hawkins by 18-12. With this win, he has become the first player for 17 years to make a successful defence of the World Championship. 


8-May-13


 


World


1. Brazilian diplomat Roberto Azevedo was chosen as the next director-general of the World Trade Organization (WTO) yesterday. He defeated Mexico's former trade minister Herminio Blanco to become the first Latin American to lead the group since its creation in 1995. He will succeed Pascal Lamy, the current head of WTO who goes out after two four-year terms. It is considered to be a major victory for Brazil as well as BRICS.


2. Indian-origin Srinivasan Venkatakrishnan has been appointed as the new chief executive officer of South Africa-s AngloGold Ashanti, the third biggest gold producer in the world. He will succeed Mark Cutifani who quit last month.


India


1. The Congress Party has returned to power in Karnataka after seven years with absolute majority win in the Assembly polls. With this win, BJP losses its only southern state in which it has secured power after last assembly poll in 2008. Congress won 121 seats in the 224-seat Assembly which gives it absolute majority. The Janata Dal (Secular) and BJP won 40 seats each while BS Yeddyurappa's KJP won only 6 seats. This result will definitely boost morale of Congress party when BJP has refused to let the parliament run demanding resignation of Railway and Law ministers over railway board recruitment and Coal gate scam.


2. The Government has set an export target of USD 325 billion for the current financial year 2013-14 due to global economic slowdown. The target was much lower than USD 360 billion target it had set for previous financial year 2012-13 but is almost 8% higher compared to USD 300.6 billion overall export figure achieved in the previous financial year. Export growth is expected to remain low for first half of the year due to lower demand.


3. Football club Churchill Brothers drew 1-1 against Mohun Bagan yesterday night to secure I-League for the second time in four years. It has secured 52 points and reached comfortable position to win the Indian football league. Pune FC secured 2nd place and East Bengal secured 3rd plan in the league table as of now.


Dell acquires cloud software firm Enstratius


Dell has recently acquired cloud software firm Enstratius for undisclosed amount in order to diversify its business and reduce its dependency on PC and Laptop segment only. The PC and laptop segment has been growing at a very slow rate over last couple of years.


Enstratius helps companies manage more than 20 public and private cloud platforms including OpenStack, VMware, Rackspace, Amazon Web Services and Windows Azure. After this acquisition, Dell will be able to provide end-to-end solutions strategy and bring key capabilities to deliver cloud-management solutions to all of its customers.


9-May-13


 


World


1. English football club Manchester United has confirmed that Alex Ferguson would retire later this month after 27 years as manager. Ferguson has managed and coached Manchester United since 1986 and he will stay at United as a director post his retirement as coach. He has coached the team for nearly 1600 matches and secure 965 wins. Under his coaching, Manchester United won couple of English Premier League titles in last 27 years.


2. Sanaullah Ranjay, the Pakistani prisoner who was attacked by a jail inmate in Kot Bhalwal jail in Jammu last week following death of Indian Prisoner Sarabjit Singh in Pakistan jail passed away due to multi-organ failure at the PGI Hospital in Chandigarh. He was serving a life term since 1999 under TADA provision. After his death, his dead body was handed over to Pakistan authorities and later his body was flown to Pakistan.


India


1. Indian government has announced that low interest loans will be provided to over 25 lakh women self-help groups (SHGs) across the country under a central programme which was launched to wipe out poverty in the villages. The Union Cabinet has approved the provision of interest subvention to women SHGs, operating under National Rural Livelihood Mission (NRLM), to enable them availing loans up to Rs 3 lakh at an interest rate of 7%.


2. US technology company Oracle Crop has announced plan to offload 5.3% stake in Oracle Financial Services Software (OFSS) for nearly USD 214 million to reduce its overall stake to 75% in order to comply with the SEBI-s requirement of having 25% public float for all listed companies by June this year. Post this deal; it will be one of the largest divestments by an MNC in recent times.


3. India-s famous shuttlers Saina Nehwal and P V Sindhu have retained their respective 2nd and 13th ranks in the Badminton World Federation (BWF) female-s singles rankings released today. P V Sindhu has recently won her maiden Grand Prix Gold title in Malaysia. Parupalli Kashyap has also maintained his 11th position in the men-s singles list while R M V Gurusaidutt climbed up a spot to 27 and K Srikanth climbed up 5 spots to 47.


10-May-13


 


India


1. Congress Legislative Party (CLP) has formally chosen Siddaramaiah as its leader and next Chief Minister of Karnataka following Congress Party-s victory in the assembly election this week. Mr Siddaramaiah is expected to be sworn-in as the Chief Minister on Monday and with this he will be the 28th Chief Minister of Karnataka. He is well known for his honesty and scam free image.


2. Popular dhrupad vocalist Ustad Zia Fariduddin Dagar has passed away on Wednesday after a brief illness. He was 80. He played a major role in the revival of dhrupad tradition.


3. The Supreme Court has set aside the Orissa High Court's order today which had quashed state government's decision to allot iron ore licence to South Korean steel major Posco in Khandadhar hills area. The apex court bench has asked the Centre to consider all the objections raised by various parties pertaining to the mega steel plant and take a decision.


The High Court had earlier set aside the state government's decision in July 2010. The state government of Orissa challenged the orders of the Orissa High Court which has quashed the notification issuing iron ore mining in over 2,500 hectares in the Khandadhar hills in Sundergarh district to Posco.


4. The Supreme Court has dismissed Bollywood actor Sanjay Dutta-s plea seeking review of its judgement on his conviction and five-year jail term today. With this decision, his hope of getting relief has been dashed. The apex court had upheld his conviction in the 1993 Mumbai serial blasts case which was organized by underworld don Dawood Ibrahim and others with the involvement of Pakistan's ISI on 21st March this year.


5. The Government has cleared wide ranging policy today aimed at creating international and regional aviation hubs in the country in order to boost the struggling aviation sector. It has also approved the constitution of an Inter-Ministerial Committee under the leadership of Secretary, Civil Aviation which will suggest various measures for the development of aviation hubs to tackle rising air traffic in the coming years.


The new policy will also focus on the need to coordinate the development of tourism and promotion of brand -India- in a concerted manner including liberalise of visa norms and extend -visa on arrival- to as many countries as possible, relax restrictions for carrying/spending Indian currency for foreign citizens etc.


6. The Union Cabinet of India has given its approval to declare the year 2013 as Water Conservation Year 2013. Following the theme of the year, the Government has proposed to come up with several mass awareness activities with an emphasis on sensitizing the masses on water issues and to encourage them to use water judiciously and conserve it.


7. India-s passenger car sales dropped by 10.43% to 1,50,789 units in April this year compared to 1,68,354 units in the same month last year, as per the data published by the Society of Indian Automobile Manufacturers (SIAM). This is the sixth month in a row car sales dropped compared to same month last year due to weak consumer sentiments, high interest costs and other macro-economic factors. Motorcycles sales dropped by 2.06%  to 8,43,889 units from 8,61,608 units in the same month previous year while total two-wheeler sales grew by 0.95% to 11,68,080 units in April from 11,57,114 units in the same period of previous year. Total sales of commercial vehicles grew by 0.75% to 56,678 units from 56,257 units in the year-ago period.


IIP growth jumped to five month high of 2.5% in March; but remains at two decades' low in FY2012-13


India's index of industrial production (IIP), the most important index to judge performance of India-s industrial sector, grew at the fastest rate during the last five months at 2.5% in March compared to -2.8% growth in the same month last year. The IIP growth for the previous financial year 2012-13 stood at two decade low of 1% which is a big concern for the policy makers and government. IIP growth in the previous financial year stood at 2.9%. 


11-May-13


India


1. The National Technology Day is observed today (11th May) across the country. The day is celebrated in recognition of a major technological breakthrough of conducting successful nuclear tests at Pokhran on this day in 1998. The President Pranab Mukherjee will preside over the celebratory function in New Delhi today and give away the National Technology awards.


2. Union Railway Minister Pawan Kumar Bansal and Union Law Minister of India Ashwani Kumar have submitted their resignation to the Prime Minister of India, Manmohan Singh yesterday after the Congress core committee meeting. Last week, BJP did not let the Parliament work on demand of their resignation.  PK Bansal was attacked after his nephew Vijay Singla was arrested by CBI in railway board recruitment scam and Ashwani Kumar was attacked for interfering in the CBI report in the Coal Block allocation scam.


3. Telecom Min Kapil Sibal was given additional charge of Law Ministry after resignation of Ashwani Kumar. Road and Transport Minister C P Joshi was given additional charge of the Railways ministry after resignation of Pawan Bansal.


13-May-13


 


World


1. Pakistan Muslim Leauge-Nawaz (PML-N) president Nawaz Sharif is all set to become Pakistan-s Prime Minister for the third time based on unofficial results of elections held last week. Now he is in talks with independents and small parties on forming a new government. Though the final results are yet to come, PML-N is expected to garner 130 National Assembly seats, Imran Khan-s party, PTI (Pakistan Tehreek-i-Insaf) is expected to get some 34 seats, while the former ruling party PPP is expected to get only 32 seats.


2. Ferrari-s Fernando Alonso won the Spanish Grand Prix held yesterday. It was his second win for the season in last five races and the 32nd win of his career. Lotus-Renault- Kimi Raikkonen, Ferrari-s Felipe Massa, Red Bull-Renault-s Sebastian Vettel and Red Bull-Renault-s Mark Webber secured 2nd, 3rd, 4th and 5th rank in the same race.


3. Barcelona won their 22nd Spanish league or fourth La Liga title in last five sessions after Real Madrid has managed a 1-1 draw with Espanyol. It was Lionel Messi who has powered Barcelona to this season's Spanish league crown after dominating the same since start of the tournament.


4. Rafael Nadal won his fifth title in seven tournaments since returning from a seven-month injury layoff as he claimed his third Madrid Masters men-s- singles title after defeating Swiss Stanislas Wawrinka  by 6-2, 6-4 yesterday.


5. World Number One Serena Williams won her 50th career Singles title when she won Madrid Masters women-s- singles title after defeating Maria Sharapova by 6-1, 6-4 yesterday.


India


1. Siddaramaiah was sworn in as Karnataka-s 22nd Chief Minister by Governor H R Bhardwaj today which has brought in a Congress government in the state after seven years. Siddaramaiah, who was elected as leader of Congress Legislature Party on Friday with the full backing of the 120 newly elected MLAs behind him has taken oath. Siddaramaiah joined the Congress only in 2006, after he stepped away from the JD(S) where he had even been the deputy chief minister.


2. India-s leading stock exchange National Stock Exchange has launched India-s first dedicated debt trading platform today and said it is awaiting the market regulator SEBI-s guidelines for allowing participation of mutual funds, insurance companies and pension funds. The debt trading platform is expected to provide retail investors an opportunity to invest in corporate bonds on a liquid and transparent exchange platform. NSE had recently received approval from SEBI to launch the debt segment.


3. Valuemart Gold and Jewels launched one lakh Sachin Tendulkar gold coins, each weighing 10 grams, in the senior cricketer-s presence today in Mumbai. The gold coins contain his face and signature embossed on them. The 24 karat gold coin is priced at Rs 34,000 and will be available on valuemartgold.com and leading jewellery stores across the country. The company had also signed up Tendulkar as its brand ambassador for a three-year period in February this year.


India-s export grew by just 1.68% in April; Trade deficit jumps to USD 17.78 billion


India's exports grew by 1.68% to USD 24.16 billion for the fourth straight month in April but imports have increased by 10.96% to USD 41.95 billion due to higher export of gold items in April compared to same month last year. Trade deficit for the same month jumped by 21% to USD 17.78 billion in April compared to same month last year.


Retail inflation drops to 9.39% in April; more room for rate cut


India-s retail inflation, measured by Consumer Price Index, dropped sharply to 9.39% in April due to lower prices of vegetables, edible oil and protein-based items compared to 10.39% in the previous month of March. This is drop in retail inflation for the second straight month. The prices in the vegetables dropped to 5.43% in April from 12.16% in March which pulled down the retail inflation to single digit. Inflation in protein-based items, cereals, pulses, sugar, oil and fat segments stood at 13.60%, 16.65%, 10.91%, 10.49% and 7.52% respectively for the same month.


India-s inflation dropped to 4.89% in April, lowest level since November 2009


India-s overall inflation, measured by the wholesale price index, dropped to three-and-a-half-year low of 4.89% in April compared to 5.96% in the previous month of March. Inflation came within RBI-s comfort zone now and it can help RBI to cut rates further during its next mid-quarter monetary policy review meeting on 17th June. 


15-May-13


 


World


1. Nawaz Sharif's Pakistan Muslim League Nawaz (PML-N) has emerged the single largest party after winning 122 seats of total 272 seats in Pakistan's general elections held this month. The Pakistan People's Party and Imran Khan's Pakistan Tehrik-e-Insaf - won 31 and 26 seats respectively. Nawaz Sharif is all set to become Pakistan-s next Prime Minister.


2. The eurozone's economy was contracted by 0.2% during the first quarter of 2013 which is the sixth consecutive contraction in quarterly GDP numbers. With this the entire zone enters into its longest recession ever. In 2008-09 its economy was contracted for 5 consecutive quarters.


3. Euro zone-s second largest economy France-s GDP was contracted by 0.2% in the first quarter of current year compared to 0.2% contraction in the previous quarter (last quarter of 2012) as well. With this, the French economy enters into recession which is defined as contraction in two consecutive quarters.


4. Global credit rating major Fitch has upgraded Greece-s credit rating by one notch to -B- with stable outlook from earlier rating of -CCC- as it progresses well to rebalance its economy and bring total deficit under control.


5. Matt Prior was named the England cricketer-of-the-year for 2012-13 for his remarkable performance with bat and gloves throughout the year. Prior was presented with his award at Lord's yesterday.


6. England footballer Rio Ferdinand has announced his retirement from International Soccer today, saying he wants to concentrate on his club duties at Manchester United. The 34-year-old centre-half won 81 caps in an international career and participated in three World Cups.


India


1. The Union Cabinet of India has approved constitution of a Group of Ministers (GoM) to find out ways to make the Central Bureau of Investigation (CBI) as an autonomous body as suggested by the Supreme Court. The GoM will be headed by Finance Minister P Chidambaram. The draft law will be placed before the Supreme Court within three weeks.


2. The Indian Olympic Association (IOA) has agreed today to have fresh elections and hold another Annual General Meeting (AGM) within a month to select their representatives. It will see IOA to return to the Olympic fold after a ban which was imposed on it last year. The agreement was reached at a meeting with the International Olympic Committee held in Lausanne.


3. The Reserve Bank of India has unveiled the details of inflation indexed bonds (IIBs) today to attract retail investors and stop them buying gold. The first tranche of IIBs, which will be for Rs 1,000-2,000 crore, will be issued on 4th June. To begin with, these bonds will be issued for a tenor of 10 years.


4. Professional networking site LinkedIn now has more than 20 million users in India which is nearly 9% of its total memberships worldwide. India is also the second largest country in terms of members after the United States which has nearly 74 million users.


5. Air India has successfully restarted commercial operations with the Boeing 787 aircraft popularly known as Dreamliner with the first flight taking off from Delhi to Bangalore at 6.35 am today. The six 787 aircraft in the airline fleet were grounded on January 17 following battery related issues faced in the aircraft.


6. The board of Air Asia India has appointed Singapore based Mittu Chandilya as CEO of Indian operation of Air Asia which was launched recently. Air Asia's founder and CEO Tony Fernandes has announced the same. He holds a master of business administration (MBA) from the prestigious graduate business school INSEAD in France. With his appointment, he will be the youngest CEO among all the Indian airlines companies.


16-May-13


 


World


1. Toyota has overtaken South Korea's Samsung Electronics to become Asia's largest company by market value after its market shares increased significantly last year. On 16th Morning, its market capitalization stood at 21.89 trillion yen (USD 214 billion) compared to Samsung-s market capitalization of 20.26 trillion yen.


India


1. Delhi Police has arrested Rajasthan Royals players Ankeet Chavan, Ajit Chandila and S. Sreesanth along with seven bookies yesterday night after their team-s match with Mumbai Indians in match spot-fixing scam. BCCI has also suspended them today and vowed to take -strictest action- against them if found guilty after an inquiry.


2. Lt Gen (retd) Nirbhay Sharma has been appointed as governor of Arunachal Pradesh today. He will succeed Gen (retd) J J Singh whose term ended in January this year. President Pranab Mukherjee appointed Sharma as the governor and his tenure will come into effect from the day he assumes charge of his office.


3. Finance ministry has increased the interest rate on provident fund by 0.25% yesterday. After this increase, now the PF interest rate will be calculated as 8.5% for 2012-13 compared to 8.25% in the previous financial year. The notification will be implemented with immediate effect.


17-May-13


 


World


1. Japan's economy grew by 0.9% in the first quarter of current year 2013 compared to previous year and grew by 3.5% compared to same quarter last year. Japan-s economic growth stood at only 1% in 2012 and this quarter growth is the highest in last one year which increases optimism about the world-s third largest economy.


2. Inflation of 17-member Eurozone dropped to 1.2% in April which is much lower than ECB-s target inflation of 2%. This is also the lowest inflation in last three years. The main reason behind the drop is softening of global crude oil prices.


3. US inflation dropped to 1.1% in April which is the lowest inflation in Last two years. Steep drop in global crude oil and natural gas prices helped US inflation to drop.


4. Microsoft co-founder Bill Gates has regained the title of world-s richest person with total worth of USD 72.7 billion as per billionaire index published by Bloomberg yesterday. He regained no 1 rank for the first time since 2007 due to jump in Microsoft-s shares prices on stock exchange recently.  Mexican telecommunications billionaire Carlos Slim stood at the second place in the list with total worth of USD 72.1 billion.


5. England's most popular footballer David Beckham announced his retirement from International Football yesterday after a great career full of trophies and glamour. The 38-year old footballer was recently termed as the world-s richest footballer.


India


1. The Union Government of India has revised the criteria for creamy layer of Other Backward Classes (OBCs) from 4.5 lakh rupees to 6 lakh rupees yesterday to avail benefits of reservations in government jobs and admissions to central educational institutions. The layer was revised based on increase in Consumer Price Index.


2. The Arctic Council has recently agreed to include six new nations as observers to eight-member council. The countries added as observers are India, China, Italy, Japan, South Korea and Singapore. As an observer country, India can have a stake in the Arctic Ocean and also influence the decisions taken by the permanent members. The Arctic holds 13% of the world-s undiscovered oil reserves and 30% of undiscovered gas deposits, on which India can also have access.


3. Global credit rating agency Standard & Poor-s (S&P) has re-affirmed India-s sovereign rating as -BBB (minus)- and retained long term -Negative- outlook for the same. BBB (minus) rating is the last investment grade rating. It has also warned that India has one-third chances of being downgraded due to high current account deficit and lower GDP growth.


4. Table Tennis Federation of India (TTFI) general secretary Dhanraj Choudhary has been elected as one of the Board of Directors (BoD) to the international sport body (ITTF). With this, he becomes the first Indian achieve the significant post of the international sport body (ITTF). Earlier he was nominated to the decision-making body by the Asian Table Tennis Union (ATTU).


20-May-13


 


World


1. Samina Baig, a 22-year-old woman became the first female Pakistani to scale the world-s tallest mountain, Mount Everest on Sunday.  She is also the youngest among the only three Pakistanis, who have so far made it to the top of Mount Everest. She did this along with Nunshi and Tashi Malik, the first Indian twin sisters to scale the Everest.


2. Spain's Rafael Nadal defeated his Swiss rival Roger Federer by 6-1, 6-3 yesterday to win Italian Open Men-s singles title. This is his seventh Italian open title in last 9 years. After coming back from knee injury, he has won his sixth title from eight finals so far this season and proved his preparedness for bigger win.


3. World number one Serena William defeated Belarusian Victoria Azarenka by 6-1, 6-3 to win the Rome Open Women-s singles title on Sunday. It was her 51st career title and 2nd Italian Open title.


India


1. Director General of Meteorology & Permanent Representative of India with World Meteorological Organization (WMO), Dr Laxman Singh Rathore, has been elected as Member of Executive Council of WMO during the 65th Executive Council of WMO meeting at Geneva. He had earlier served as Vice President of Commission of Agriculture Meteorology of WMO.


2. Indian National Defence University will be set up at Gurgaon. Post establishment, it will be a dedicated first-of-its-kind institution for training and research in military studies in India and will be equipped with training and research facilities on all aspects of national security as part of the strategic national policy-making.


3. Indian origin Entrepreneur Vivek Ranadive, founder of USD 4 billion Tibco Software Company, has brought 65% stake in the Sacramento Kings, an American basketball franchise for USD 347 million. With this , he has become the first Indian origin to become owner of a major US basketball team.


4. Morgan Stanley has announced that it has signed an agreement to sell its Indian wealth management unit to Standard Chartered for a disclosed sum. Morgan Stanley will work closely with Standard Chartered to ensure a smooth transfer of wealth management clients currently serviced in India in coming months.


5. Indian women team defeated Mongolia by 21-14 to win the gold medal at the inaugural FIBA Asia 3×3 basketball event at Doha, Qatar on Saturday. The team led by Geethu Anna Jose won the three play-off games without breaking much sweat. India had won the gold at the Asian Beach Games at Haiyang last year as well.


6. India-s sixth seeded Mahesh Bhupathi and Rohan Bopanna ended runners-up at the Rome Masters men-s doubles after defeated by top seeded American team of Mike and Bob Bryan by 2-6, 3-6 on Sunday.


Yahoo to acquire blogging service company Tumblr for USD 1.1 billion


Global internet company Yahoo has agreed to acquire New York-based blogging service Company Tumblr for USD 1.1 billion in an all cash deal. This is the largest deal made by Yahoo since Ms Mayer joined Yahoo as its CEO in July last year. It will help yahoo to increase its presence in blogging service area and compete with other important players directly.


After this acquisition, Tumblr will operate independently and David Karp will continue as chief executive officer of Tumblr. Tumblr combines elements of blogging with social networking and it was able to attract many users since its launch due to its simple design.


21-May-13


 


World


1. Sally Ride, the first US woman to fly into space will be awarded the highest civilian honour of the USA, the Presidential Medal of Freedom, by President Barack Obama. She died last year at 61. She joined NASA in 1978 in the first astronaut training class to include women. She inspired youth to reach for the stars, and she advocated for a greater focus on the science, technology, engineering and math that would help all get in the space.


2. Huge tornado hit Oklahoma City suburbs in USA killing 91 people including 20 children yesterday.  The tornado travelled with the speed of 200 mph or 320 kmph and created huge disaster on its path. USA President Barack Obama has declared the Oklahoma tornado as the major disaster.


India


1. Anti-Terrorism Day is observed today (21st May) across the country, also as the 22nd anniversary of martyrdom of former Prime Minister Rajiv Gandhi. President Pranab Mukherjee, Vice President Hamid Ansari, Congress President Sonia Gandhi and Congress Vice President Rahul Gandhi paid homage to him today at Rajiv Gandhi memorial, Vir Bhumi in New Delhi.


2. Defence secretary Shashi Kant Sharma has been appointed as the new Comptroller and Auditor General (CAG) of India. President Pranab Mukherjee has approved the appointment of Sharma as the next CAG. He will be the 12th CAG of India. He will replace Vinod Rai, who retires on Wednesday. Vinod Rai had an eventful 5 years tenure in which CAG audit exposes 2G and Coalgate scams which shocked the country.


3. China's new premier Li Keqiang visited India on his first foreign trip to India from 19th to 22nd May in order to strengthen ties between to major Asian economies. He along with Indian Prime Minister have signed some agreements in order to settle old border related disputes, share Brahmputra river related data, increase bi-lateral trades and reduce trade deficit for India. They have also decided to increase bi-lateral trade to USD 100 billion by 2015 from current USD 67.8 billion in FY 2012-13.


4. Justice Kalyan Jyoti Sengupta was elevated as the Chief Justice of the Andhra Pradesh High Court today. He was currently a judge in the Uttarakhand High Court. He also assumed charge as the acting Chief Justice of Calcutta High Court in October 2012.


5. The board of iGate Corp, IT services provider, has sacked its chief executive officer Phaneesh Murthy following an investigation into a claim of sexual harassment and his relationship with a subordinate employee which he failed to inform to his superior as per Employee conduct ploicy. It has also appointed Gerhard Watzinger as interim chief executive with immediate effect.


6. Electronics and Computer Software Export Promotion Council (ESC) has appointed Vinod Sharma as the Chairman for 2013-15 yesterday. He will replace S. Radhakrishnan, Managing Director of Descon Ltd. Sharma, who is Managing Director at Deki Electronics, Noida was unanimously elected at the Committee elections of the ESC. ESC, sponsored by the Government, is India-s electronics and IT trade facilitation organisation.


7. Leading e-commerce marketplace eBay India has appointed Latif Nathani as its new Managing Director. Nathani has taken over from Muralikrishnan B., who has quit eBay India after year long stint in the company to start his own venture.


8. Indian famous Sand artist Sudarsan Pattnaik has won the grand prize at the Copenhagen International Sand Sculpture Festival in Denmark for his sculpture on environment. He won the prize for his sand sculpture -Go Green, Save Earth-. He created the 15-feet high sculpture in seven days for the festival.


9. Indian boxers have created history by winning a record haul of 10 medals, including four gold, in the Invitation FXTM International Boxing Cup held in Limassol, Cyprus.Pugilists Madan Lal (52kg), V Durga Rao (56kg), Mandeep Jangra (69kg) and Praveen Kumar (+91kg) won gold while Manoj Kumar (64kg), Dinesh Kumar (91kg) and Sukhdeep Singh (75kg) had to be satisfied with silver medals. This is also the first time Indian boxers have managed to win a tournament on the European circuit.


10. Sahara India Pariwar, owner of Pune Warriors India IPL team has pulled out of the already scandal-hit Indian Premier League (IPL) today and announced that they will not renew their sponsorship of the Indian cricket team after the present contract expires in December 2013. The decision came after BCCI rejects Sahara India Pariwar-s claim to reduce the franchisee fee and encash some of its bank guarantee.


22-May-13


 


World


1. The International Day for Biological Diversity was observed today (22nd May). The day is observed every year to increase the understanding and awareness of biodiversity issues. The theme this year is -Water and Biodiversity-.


2. Ray Manzarek, a founding member and keyboardist of 1960s rock group The Doors, passed away on Monday at a medical clinic in Germany. He was 74. Singer Jim Morrison and then-UCLA film student Manzarek formed The Doors in 1965.


India


1. India has successfully test fired the 290-km range BrahMos supersonic cruise missile from the Navy's latest guided missile frigate INS Tarkash off the coast of Goa today. The missile performed the high-level 'C' manoeuvre in the pre-determined flight path and successfully hit the target.Advanced Talwar Class frigate, INS Tarkash was commissioned in November last year.


2. The Ministry of Health and Family Welfare has relaxed eligibility parameters for the Janani Suraksha Yojana (JSY), which provides financial assistance to mothers for institutional deliveries. Now, Below Party Line (BPL) women can access JSY benefits irrespective of their age and number of children. All women from BPL category, Scheduled Castes and Scheduled Tribes in all States and Union Territories will be eligible for JSY benefits if they have given birth in a government or private accredited health facility. BPL women who prefer to deliver at home can also get JSY benefits.


Launched in 2005, the JSY is the government-s main scheme to enable women — especially those from vulnerable sections — to access institutional delivery. This was done to reduce maternal and neonatal mortality.


3. Famous Singer Hariharan was conferred with the Lata Mangeshkar Samman Alankaran in Indore this week. The award is conferred by the Madhya Pradesh government which Madhya Pradesh government instituted in 1984. Music composer Naushad was the first recipient of this award.


4. Former national level volleyball player, Arunima Sinha has created history yesterday by becoming the first Indian amputee to conquer Mount Everest. She had lost one of her legs after being thrown of Padmawati Express for resisting a chain-snatching attempt by some criminals, while travelling from Lucknow to Delhi in April 2011.


5. Chennai Super Kings entered into the final of the 6th season of the Indian Premier League after defeating Mumbai Indians by 48 runs in the first Qualifier yesterday in New Delhi. While batting first, CSK scored 192 runs one 1 wicket supported by Mike Hussey (86) and Suresh Raina (82). Mumbai Indians were managed to score only 144 runs in 18.4 overs after losing its all wickets.


23-May-13


World


1. American short story writer Lydia Davis won the fifth Man Booker International Prize 2013 for fiction yesterday. She is best known for her short stories which includes works such as -The End of the Story- and -Varieties of Disturbance- and she has been described as -the master of a literary form largely of her own invention-. The prize, worth £60,000, is awarded for an achievement in fiction on the world stage. It is presented once every two years to a living author for a body of work published either originally in English or available in translation in English.


2. German Chancellor Angela Merkel tops the list for the third consecutive year in the global list of most powerful women compiled by Forbes magazine for 2013, followed by Brazil-s President Dilma Rousseff, Melinda Gates of Bill & Melinda Gates Foundation, US First lady Michelle Obama and philanthropist Hillary Clinton.


3. An 80-year-old Japanese man, Yuichiro Miura  became the oldest person to climb to the top of Mount Everest yesterday. He has had four heart operations in recent years which did not stop him to achieve this. An 81-year-old Nepalese man, who held the previous record, plans his own ascent next week.


India


1. The Election Commission of India and the National Literacy Mission Authority, Ministry of Human Resource Development, has signed a Memorandum of Understanding (MoU) yesterday on Electoral Literacy and Greater Participation for a Stronger and Inclusive Democracy in New Delhi. This is the first time Election Commission of India has signed a MoU with Government Department.


2. Congress President Sonia Gandhi and India-born PepsiCo Chief Indra Nooyi were placed among the top 10 in the global list of most powerful women compiled by Forbes magazine for 2013. Sonia Gandhi is ranked at 9th while Nooyi is ranked at 10th in the global list of World-s 100 most powerful women.


3. Well-known Kannada author U.R Ananthamurthy, the only Indian to be shortlisted for the Man Booker International Prize 2013, lost the prestigious award to American writer Lydia Davis yesterday.


4. Sathwik Karnik, an Indian-origin boy from Massachusetts has won National Geographic Bee contest for 2013 after gruelling rounds testing his geographic knowledge about lions in Botswana, mountain ranges in Asia and port cities in England. Karnik, a native of Norfolk, south of Boston, is a 7th grader at King Philip Regional Middle School.


5. A CBI court has convicted former Chairman and Managing Director of Indian Bank M Gopalakrishnan and two others in an 18-year-old cheating case, causing Rs three crore -wrongful loss- to the bank and sentenced him and another person to one year rigorous imprisonment. They were charge for hatching a criminal conspiracy between 1993 to 1995 to cheat the bank-s Alwarpet Branch and sanctioned credit facilities of huge amounts to some construction companies without sufficient securities and by surpassing bank-s guidelines and rules.


24-May-13


World


1. The United States Senate has voted 97-0 to confirm Srikanth Srinivasan to a judgeship on the prestigious US Court of Appeals, the highest judicial appointment achieved by an Indian-American. Born in Chandigarh, India, and raised in Kansas, Sri spent nearly two decades as an extraordinary litigator before serving as Principal Deputy Solicitor General of the United States.


2. US singer-songwriter Carole King became the first woman to receive the Library of Congress Gershwin Prize for Popular Song. The President Barack Obama conferred the Gershwin Prize that is given as a lifetime achievement in popular music. Carole King is an American songwriter and singer-songwriter. King and her former husband Gerry Goffin wrote more than two dozen chart hits for numerous artists during the 1960s, many of which have become standards. She has also won the Grammy Award four times.


3. Procter & Gamble has reappointed former CEO AG Lafley as its new CEO. He will replace current CEO Bob McDonald with immediate effect who will retire on 30th June this year. Lafley previously held the CEO role from 2000 to 2009.


India


1. The Union Cabinet approved to grant Malayalam as a -Classical Language- status. In 2004, the Government of India declared that languages that met certain requirements could be accorded the status of a -Classical Language in India-. As of now the languages which were declared as classical are Tamil, Sanskrit, Kannada and Telugu. Benefits associated with classical language are two major annual international awards for scholars, setting up of a Centre of Excellence for Studies in Classical Languages, creation of certain number of Professional Chairs for Classical Languages.


26-May-13


World


1. German football club Bayern Munich defeated Borussia Dortmund by 2-1 at London's Wembley Stadium to win Champions League for 2013.  This win made Bayern coach Jupp Heynckes only the fourth manager to win the trophy with two different clubs, after a 1998 win with Real Madrid. Bayern Munich lost in the Champions League final in 2010 and 2012.


India


1. Senior IAS officer Radha Krishna Mathur has appointed as its new Defence Secretary. He will succeed Shashikant Sharma who has taken over as Comptroller and Auditor General (CAG) recently.


2. Gurunath Meiyappan, son-in-law of BCCI President N Srinivasan and director of Chennai Super Kings IPL team, was arrested for his alleged involvement in IPL betting scandal following grilling by Mumbai Police on Friday night. His arrest proves, IPL team owners are also involved in the match fixing scandal.


3. Well-known playback singer T.M. Soundararajan or also known as TMS, who was the voice of two megastars of Tamil Nadu — MGR and Sivaji Ganesan — passed away in Chennai on Saturday. He was 90. He first sang for Krishnavijayam in 1950. His first film for Sivaji in 1954 was Thookku Thookki — with the hit number Pengalai nambathey, kangale pengalai nambathey .


4. Former Indian President A.P.J. Abdul Kalam was conferred with the US-based National Space Society-s (NSS) Wernher von Braun Memorial Award in San Diego. The award instituted by NSS, a non-profit organisation dedicated to the creation of a space faring civilisation, was conferred on Kalam at the International Space Development Conference on Friday evening.


5. FMCG major Nestle India has declared a change in its India management and has appointed Etienne Benet as its new Chairman and Managing Director. He will be replaced by Antonio Helio Waszyk. Waszyk will continue his role as the non-executive chairman of Nestle India.


27-May-13


 World


1. Mercedes- Nico Rosberg won the Monaco Grand Prix yesterday held at Monaco to claim second win in his career. Red Bull-s Sebastian Vettel and his team mate Mark Webber stood second and third respectively in the same race.


India


1. Mumbai Indians won their maiden Pepsi Indian Premier Legue title after defeating hot favorite Chennai Super Kings by 23 runs in the final match yesterday. While batting first Mumbai Indians scored 148 runs in 20 overs, Chennai Super Kings were managed to score only 125 runs for nine wickets. Kieron Pollard (60 Not Out and 1/34, 1 catch) was the man-of-the-match for his all-round effort.


2. Sachin Tendulkar announced retirement from Twenty20 cricket format yesterday immediately after winning IPL title yesterday. He announced that IPL 6 season was the last IPL season for him. He was part of Mumbai Indians IPL team for last 6 years; during that period he played 86 matches and scored 2529 runs including one century and 14 half centuries. Earlier he had announced retirement from the One-Day Internationals in December 2012. After this decision, he will play only in Test Matches.


3. India-s Formula One team Sahara Force India had a remarkable result at the Monaco grand Prix as Adrian Sutil and Paul di Resta finished at fifth and ninth respectively. This earns the team 12 World Championship points.


  28-May-13


World


1. South Africa-s GDP grew by just 0.9% in the first quarter of 2013 compared to previous quarter or by 1.9% compared to same quarter last year. Its economy grew by 2.5% in 2012. It raises concern about Africa-s largest economy which is still struggling to gain growth momentum.


2. The International Cricket Council (ICC) and the England and Wales Cricket Board (ECB) have officially signed the agreement to stage the 2019 World Cup in England and Wales. The tournament will be held throughout June 2019 and will be played at 10 venues.  It will be the 12th edition of World Cup Cricket Tournament.


India


1. Revenue of top five Indian IT services providers, TCS, Wipro, Infosys, Cognizant and HCL Technologies, grew by 13.3% to reach USD 34.3 billion in 2012, as per report published by analyst firm Gartner. At the same time, Cognizant displaced Infosys to become the second-largest Indian IT services provider as per 2012 revenue as it continues to grow at a much faster pace. TCS closed in on the top 10 worldwide market share leader, with less than USD 1.5 billion separating it from the 10th ranked provider, Hitachi.


2. The Reserve Bank of India (RBI) has instructed banks not to provide loans against units of gold exchange-traded funds (ETFs) and gold mutual funds. As these products are backed by bullion and primary gold, the restriction on grant of loan against gold bullion will be applicable to loan against units of gold ETFs and units of gold mutual funds. It added no advances should be given by non-bank financial companies (NBFCs) against bullion, primary gold and gold coins and NBFCs should not provide any loans to purchase gold.


3. The Bharatiya Janata Party (BJP) has expelled senior lawyer and MP Ram Jethmalani from the primary membership of party for six years over breach of discipline today.  Ram Jethmalani had earlier criticised senior party leaders Sushma Swaraj and Arun Jaitley for their complete ignorance of relevant facts for opposing the appointment of the new CBI director and he had also demanded the resignation of former party president Nitin Gadkari following corruption issues.


4. Haryana defeated Madhya Pradesh Hockey Academy by 3-2 in the final match to win the 3rd Hockey India Sub-Junior Women National Championship at the Aish Bagh Hockey Stadium in Bhopal yesterday. With this loss, Madhya Pradesh Hockey Academy failed to defend the title. Jharkhand defeated Chandigarh 2-1 to claim the third position.


5. Odisha defeated Jharkhand by 8-0 in the final match to win the 3rd Hockey India Sub-Junior Men National Championship at the Aish Bagh Hockey Stadium in Bhopal yesterday. Punjab defeated Madhya Pradesh Hockey Academy 1-0 to get the third position in the same tournament.


  29-May-13


India


1. Social activist Aruna Roy has decided not to continue in National Advisory Council (NAC) after her term expires this Friday. She has written to UPA Chairperson Sonia Gandhi who heads the NAC for the same and Sonia Gandhi has accepted her request. She has also criticized the Prime Minister's office for not taking up the recommendations of NAC on minimum wages to workers under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).


2. The Group of Ministers (GoM) headed by Finance Minister, P Chidambaram has finally given its go-ahead for the Coal Regulatory Bill yesterday. The main aim will be to increase supply of coal available to all sectors. Now it will be moved to Cabinet for seek final approval before implementing the same.


3. India-s largest software exporter Tata Consultancy Services has won a Rs 1,100 crore systems integration contract from the Department of Posts (DoP) for its IT modernization project. As part of the six-year contract, TCS will develop and support mail, finance & accounts, HR, customer interaction management solutions for the DoP. The DoP aims to transform itself into a -technology-enabled, self-reliant market leader with this IT modernization project.


30-May-13


World


1. US economic growth for first quarter (January-March) of current year 2013 has been revised downwards to 2.4% compared to earlier estimation of 2.5%. Though consumer spending grew at a faster pace, government spending cut was deeper than earlier estimation.


2. The Organisation for Economic Co-operation and Development (OECD) has lowered world GDP growth projection to 3.1% for current year 2013 and 4% for next year 2014. It has also predicted recession for euro zone this year which will adversely affect world economic growth.


India


1. Acclaimed Bengali filmmaker Rituparno Ghosh passed away in Kolkata today morning due to heart attack. He was just 49. Rituparno Ghosh was a national award winning director and he won 12 national awards in the course of his career. His pioneer films include Chokher Bali, Unishe April, Bariwali, Subho Muharat, Dahan, Utsab, Abohoman and "Raincoat" etc. He was one of the most famous directors in last two decades.


2. Indian Finance Ministry has asked Industrial Finance Corporation of India (IFCI) Chairman Atul Rai to step down. Almost half of the company-s independent directors stepped down earlier from the board after the government acquiring majority stake in IFCI last year. Now Finance Ministry has asked Atul Rai to resign.


3. Four Indian business leaders - Kiran Mazumdar Shaw, P N C Menon, Vineet Nayar and Ronnie Screwvala have been figures in this year-s Forbes list of Asia-Pacific-s most remarkable philanthropist for their contribution in philanthropic activities. The annual list of -Heroes of Philanthropy- is compiled by Forbes Asia Magazine which features total 48 persons from the Asia-Pacific region.


Forbes also said this year four of the previous year-s honourees — Australia-s Andrew Forrest (and his wife, Nicola), India-s Azim Premji, Malaysia-s Vincent Tan and Taiwan-s Samuel Yin—signed the Giving Pledge, an effort by Bill Gates and Warren Buffet to get the world-s richest to give at least half their wealth for philanthropy. 


31-May-13


World


1. The -World No-Tobacco day- is observed today (31st May) across the world to raise awareness against smoking.  The Theme this year is -Ban tobacco advertising, promotion and sponsorship-. The primary risk of tobacco usage includes many forms of cancers which lead to millions of death around the world every year.


2. Arvind Mahankali from New York has madehistory by winning the Scripps National Spelling Bee for the year 2013. With this he has become the sixth Indian-American to win the title in a row. This is the sixth consecutive year that an Indian-American has won the prestigious national tournament, which was watched live by millions of people in the United States.


3. Unemployment rate in the euro zone reached another record high of 12.2% in April compared to 12.1% in the previous month of March. Greece has the highest unemployment rate (27%) among the euro zone countries followed by Spain (26.8%) and Portugal (17.8%). Austria has the lowest unemployment rate (4.9%) followed by Germany (5.4%) and Luxembourg (5.6%).


4. Japan's consumer prices dropped by 0.4% in April compared to same month last year. This is the sixth straight decline in Inflation numbers. Japan has experienced deflation for some years now and its central bank has set inflation target of 2% to bring the world-s third largest economy out of deflation.


India


1. The United Nations Educational, Scientific and Cultural Organisation (UNESCO) declared India's Nicobar Islands as a world biosphere reserve under its Man and the Biosphere Programme this month. The Nicobar Islands are an archipelagic island chain in the eastern Indian Ocean. UNESCO under its Man and the Biosphere Programme (MAB), has added 12 sites to the World Network of Biosphere Reserves which makes the total number of biosphere reserves to 621 in 117 countries.


2. The Indian rupee touched 11 month low of 56.47/48 during trading today. Indian Rupee has depreciated by more than 5% in the month of May and expected to depreciate further due to rising current account deficit and strength in US Dollars across the worldwide financial market.


3. The Ministry of Women and Child Development appointed Kushal Singh as the Chairperson of National Commission for Protection of Child Rights (NCPCR) this week. She was selected by the Committee which was headed by Krishna Tirath, Minister of Women and Child Development.


India's last quarter GDP grew by 4.8%, FY13 GDP growth at decade low of 5%


India's GDP grew by 4.8% in the fourth quarter of previous financial year 2012-13 which is slightly higher compared to previous quarter GDP growth of 4.7%. For the previous financial year FY13, yearly GDP growth stood at 5% which is the lowest GDP growth in last decade.


The manufacturing and agricultural sectors witnessed growth of 2.6% and 1.4% respectively which pulled down the overall GDP growth numbers. Growth for each sector is given below.



  • Agricultural sector growth at 1.4% in Q4 FY 2013 compared to 2% Year-on-Year

  • Manufacturing sector growth at 2.6% in Q4 FY 2013 compared to 0.1% Year-on-Year

  • Mining sector growth at -3.1% in Q4 FY 2013 compared to 5.2% Year-on-Year

  • Electricity, gas & water supply sector growth at 2.8% in Q4 FY 2013 Year-on-Year

  • Construction sector growth at 4.4% in Q4 FY 2013 compared to 5.1% Year-on-Year

  • Trade, hotels, transport & comm at 6.2% in Q4 FY 2013 compared to 5.1% Year-on-Year

  • Finance, insurance, realty & biz services at 9.1% in same quarter last year compared to 11.3% Year-on-Year

  • community, social & personal Services sector growth at 4% in Q4 FY 2013 compared to 6.8% Year-on-Year


India's economic growth was at 6.2 per cent for the 2011-12 fiscal. It had grown by 5.4 per cent, 5.2 per cent and 4.7 per cent in the first, second and third quarters, respectively, of 2012-13.


At the same time, the fiscal deficit for previous financial year 202-13 has come in at 4.9% versus budgeted estimate of 5.2% due to higher non-tax revenue mop-up. High fiscal deficit, record high current account deficit and decade low GDP growth will further worsen India-s macro-economic condition. Indian Rupee has been depreciated severely in recent times due to same reason and expected to drop further. RBI governor has also hinted of no rate cuts during its next policy meeting which led to steep market correction following GDP numbers.


Check the link for details: http://currentaffairs-businessnews.com/indias-quarterly-gdp-growth-fy12-and-fy13/