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JULY 2016
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(July 16 to 22)
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Prime Minister Narendra Modi and his Morocco has formally announced its wish to
Bangladeshi counterpart Sheikh Hasina jointly rejoin the African Union, 32 years after leaving
dedicated the Petrapole Integrated Check Post the organisation.
through video-conferencing. In a message to the AU summit in Rwanda, the
Prime Minister Modi said that the check post Moroccan King Mohammed VI said the time had
would not only boost bilateral trade, but also come for his country to retake its place within its
enhance connectivity, people to people ties and institutional family.
become a gateway of economic progress for both Morocco PM Abdelilah Benkirane
the countries.
Morocco Capital Rabat
Trichy: opp BSNL office, Juman Center, 43 Promenade Road, Cantonment. Mob: 9360703030
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Salem: #209, Muthu Plaza, Junction Main Rd, State Bank Colony, Salem. Mob: 7305958080
Coimbatore: #545, First Floor, Diwan Bahadur Road, RS Puram. Mob: 7667673030 / 7667678080
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The first set of loans will fund five renewable- Fair and honest dealing,
energy development projects, including those Right to suitability and
related to solar and wind power generation. Right to grievance redress & compensation
Chennai: #1, South Usman Road, T Nagar. Chennai. Mob: 9043303030 / 7601808080 6
Madurai: #24/21, Near Mapillai Vinayagar Theatre, Kalavasal. M: 7695814311 | www.RACEInstitute.in
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FMCG brands hitting Rs 100-crore mark in will be established in schools all across the
record time country.
A year ago when Mondelez India launched the
country’s first aerated chocolate called Bubbly MoS for Textile Ajay Tamta inaugurates
under the Cadbury Dairy Milk Silk umbrella, little India International Garment Fair 2016
did the company and its executives expect the MoS for Textile Ajay Tamta on july 18
brand to touch the Rs 100-crore mark in six inaugurated the India International Garment Fair
months flat. 2016.
India International Garment Fair (IIGF) is one of
ICICI Pru Life set to file for nearly $750 mln the largest and most popular events in the
IPO international apparel fairs arena.
ICICI Prudential Life Insurance Co Ltd is set to
file for an initial public offering of shares valued SoftBank buys chip designer ARM for $32 bn
at about Rs. 5,000 crore ($746 million). SoftBank Group Corp has agreed to buy U.K. chip
ICICI Pru Life is a joint venture between ICICI designer ARM Holdings PLC in a 24.3 billion
Bank Ltd, which owns nearly 68%, and Britain's pound ($32.2 billion) deal, the two companies
Prudential PLC, with nearly 26%. said, in an ambitious bet on mobile Internet that
will transform the Japanese tech group.
July 18 & 19, 2016 ARM, the most valuable tech company listed in
Fourth tranche of sovereign gold bond London by market value, is a major presence in
scheme opens for subscription mobile processing, with its processor and
The fourth tranche of Sovereign Gold Bond (SGB) graphics technology used by Samsung, Huawei
scheme opened for subscription on July 18, and Apple in their in-house designed microchips.
through which the government aims to attract a
large number of investors to curb the demand for India and US agree to enhance cooperation
physical gold that is imported in large quantities in port development
draining the country’s foreign exchange. American Ports have evinced a keen interest in a
The SGB issue price has been fixed at Rs. 3,119 comprehensive port-led development, especially
per gram. the ambitious Sagarmala programme.
An investor can invest for a minimum unit of one During his meeting with officials, Gadkari
gram and a maximum of 500 grams. The explored joint venture opportunities with India's
subscription is open till July 22. flagship container handling Jawaharlal Nehru Port
(JNPT) to promote transfer of technology and
NITI Aayog to create framework for ATL enhance bilateral commerce.
NITI Aayog to organize an Expert Consultative
Group Meeting on Creating a Framework for JSW Energy to buy Jaiprakash Power's Bina
Operationalizing 500 Atal Tinkering Labs, ATL in unit for Rs 2,700 cr
New Delhi. Sajjan Jindal-promoted JSW Energy acquired the
The consultations will provide a platform for 500-megawatt (Mw) power plant of debt-laden
exchange of ideas and knowledge among the Jaiprakash Power Ventures at Bina in Madhya
experts to help create and put in place a Pradesh for Rs 2,700 crore, 10 months after the
framework for the 500 Atal Tinkering Labs that two firms got into a binding agreement.
Trichy: opp BSNL office, Juman Center, 43 Promenade Road, Cantonment. Mob: 9360703030
7
Salem: #209, Muthu Plaza, Junction Main Rd, State Bank Colony, Salem. Mob: 7305958080
Coimbatore: #545, First Floor, Diwan Bahadur Road, RS Puram. Mob: 7667673030 / 7667678080
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July 20, 2016 They will jointly explore areas of cooperation&
Govt. allocates Rs 22,915 cr capital to 13 draw up a detailed plan for promotion of rail
PSU banks for FY17 ticketing activities.
Government has allocated 22,915 crore rupees MoU was signed by IRCTC CMD A K Manocha &
capital to 13 public sector banks for the current Arundhati Bhattacharya, CMD, SBI.
fiscal.
Government has undertaken an exercise to IMF Cuts Global Growth Forecasts
assess the capitalization needs of Public Sector The International Monetary Fund (IMF) has
Banks in line with the announcements made revised downward its global economic growth
under the Union Budget. forecast after the British people voted to leave
the European Union.
Terrapin acquires Yatra Online for $218 mn The world economy will expand by 3.4% in 2017,
Yatra online has been entered into a merger down 0.1% point from April report.
agreement with a NASDAQ- listed special purpose The UK growth projection was downgrade by 0.9
acquisition firm Terrapin 3 Acquisition point to 1.3%.
Corp(TRTL). Global growth could be capped at 2.8%, if
The transaction values Yatra at an enterprise negotiations between Britain & the EU don’t go
value of $218 million (Rs 1,458 crore). smoothly.
The combined company will continue to be led by
Yatra’s experienced management team under the July 22, 2016
leadership of chief executive and co-founder Cabinet nod for changes to Benami
Dhruv Shringi. Transactions Bill
Cabinet has given its approval for introducing
Commerce Ministry starts e-marketplace for amendments to the Benami Transactions
goods procurement Prohibition & Amendment Bill, 2015 in
Union Minister of State (MoS) Commerce and Parliament.
Industry Nirmala Sitharaman has launched an e- The bill was introduced in Lok Sabha in 2015 and
marketplace for online purchase of goods and was then referred to standing committee that
services by various central government ministries submitted its report early this year.
and departments in New Delhi. Under the Benami act those who declare their
The portal has been developed by the Directorate benami properties under Income Declaration
General of Supplies and Disposals (DGS&D) Scheme-2016 will get immunity.
which works under the Commerce Ministry and
carries out the procurement. Seven Indian firms on Fortune 500 list;
Rajesh Exports replaces ONGC
July 21, 2016 Seven Indian companies have made it to the
Railways, SBI Sign MoU latest Fortune 500 list of the world’s biggest
Indian Railway Catering & Tourism Corp (IRCTC) corporations in terms of revenue with the retail
& SBI have signed a MoU to work out a detailed giant Walmart topping the global rankings.
plan for promotion of rail ticketing activities, Indian Oil Corp. Ltd (IOC) is ranked highest at
It includes internet ticketing & unreserved 161st among Indian firms, while another state-
ticketing system. run firm Oil and Natural Gas Corp. Ltd (ONGC)
has moved out of the rankings for 2016.
Chennai: #1, South Usman Road, T Nagar. Chennai. Mob: 9043303030 / 7601808080 8
Madurai: #24/21, Near Mapillai Vinayagar Theatre, Kalavasal. M: 7695814311 | www.RACEInstitute.in
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Private gems and jewellery major Rajesh Exports July 21, 2016
Ltd has made its debut at 423rd position. Facebook Messenger Hits 1 Billion Users
Among the seven Indian companies, four are Facebook Messenger has reached one billion
from the public sector while Reliance Industries monthly users making it one of the most popular
Ltd (RIL) is the top-ranked among private sector apps in the world.
firms, followed by Tata Motors Ltd and Rajesh The milestone takes place two years after the
Exports. social-networking giant separated the mobile
chat tool from its main social-networking site .
NHAI awards Rs 533 crore contract in FB Messenger now in the top three most popular
Rajasthan apps in the world along with Facebook &
The National Highways Authority of India (NHAI) WhatsApp, Facebook hit the 1 billion users mark
has awarded a Rs 533 crore contract for widening in 2012.
of Salasar-Nagaur Section of national highways
65. July 22, 2016
The National Highways Authority of India (NHAI) NASA marks 40th anniversary of Mars
has issued Letter of Award (LOA) for landing
development of national highway section in NASA celebrated a historical milestone on July
Rajasthan under phase IV of National Highways 20, the 40th anniversary of the first U.S.
Development Projects (NHDP) to Dineshchandra spacecraft to land on Mars.
R Agrawal Infracon Pvt Ltd. On July 20, 1976, NASA successfully reached the
Martian surface with their Viking Lander 1.
Ford Motor Company setting up R&D Centre The Viking project - comprised of two separate
in Tamil Nadu spacecraft - together took more than 65,000
Ford Motor Company is in the process of setting images of the planet and collected overwhelming
up a Research and Development (R&D) centre in amounts of data.
Tamil Nadu, the first such facility to be located The primary goal of the Viking mission was to
outside of the US. search for evidence of life on Mars.
Trichy: opp BSNL office, Juman Center, 43 Promenade Road, Cantonment. Mob: 9360703030
9
Salem: #209, Muthu Plaza, Junction Main Rd, State Bank Colony, Salem. Mob: 7305958080
Coimbatore: #545, First Floor, Diwan Bahadur Road, RS Puram. Mob: 7667673030 / 7667678080
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Appointments Nigerian journalist Didi Akinyelure has won the
second BBC World News Komla Dumor Award.
July 16 & 17, 2016
She is a prime-time news anchor in Nigeria &
Congress' Pema Khandu to be sworn in as
presents business news for CNBC which
Chief Minister of Arunachal Pradesh today
broadcasts across the African continent.
Pema Khandu, son of the late Chief Minister
Dorjee Khandu, is to be sworn in as Chief
Minister of Arunachal Pradesh. Person in News
July 16 & 17, 2016
HCL Tech appoints COO CBI apprehends DG Corporate Affairs BK
To accelerate its outsourcing business, HCL Bansal
Technologies has appointed C Vijaykumar as Central Bureau of Investigation (CBI)
the Chief Operating Officer (COO). apprehended Director General Corporate Affairs B
K Bansal (an additional secretary ranked officer
July 18 & 19, 2016 in Ministry of Corporate Affairs) in connection
Malcolm Turnbull sworn in as Australia's PM with an alleged bribery case of Rs 9 lakh.
Malcolm Turnbull was sworn in for another term
as Australia's prime minister after a narrow July 20, 2016
election victory with budget repair and a public Turkish musician Kudsi Erguner named
vote on same sex marriage among his top UNESCO Artist for Peace
priorities. Turkish musician Kudsi Erguner has been
appointed as the UNESCO Artist for Peace by the
July 20, 2016 Director-General of UNESCO, Irina Bokova.
Guruprasad Mohapatra appointed as He was appointed after the opening ceremony of
Chairman of Airports Authority of India the 40th session of the World Heritage
Senior IAS officer (1986-batch) Guruprasad Committee (WHC) held in Istanbul, Turkey.
Mohapatra has been appointed as Chairman of
Airports Authority of India (AAI). Sports
Earlier, he was working as Joint Secretary in
July 16 & 17, 2016
Union Ministry of Commerce from the past two
The Great India Run to kick off at India Gate
years.
on July 17
India's first multi-city marathon 'The Great India
World Bank confirms NYU’s Paul Romer as
Run' flagged off by Sports Minister Vijay Goel and
Chief Economist
former World Championship bronze medallist
The World Bank has confirmed New York
Anju Bobby George at the India Gate on July 17.
University economics professor Paul Romer (60-
yers) its next chief economist.
Vijender becomes WBO Asia Pacific Super
He will replace Kaushik Basu, a former Indian
Middleweight champion
government economics adviser who is retiring.
Vijender Singh became the WBO Asia Pacific
Super Middleweight champion with a convincing
Awards and Honours win over Australian Kerry Hope even as pro
July 21, 2016 boxing made a rousing start in the country.
Nigeria Akinyelure Win Komla Dumor Award
Chennai: #1, South Usman Road, T Nagar. Chennai. Mob: 9043303030 / 7601808080 10
Madurai: #24/21, Near Mapillai Vinayagar Theatre, Kalavasal. M: 7695814311 | www.RACEInstitute.in
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July 18 & 19, 2016 century in first-class cricket with a stunning
Shah scales to No.1 spot in ICC Test innings against Derbyshire.
rankings Donald's knock included 15 sixes, with his 200
Wrist spinner Yasir Shah has scaled the number from just 123 balls equalling the mark set by
spot in the ICC Test rankings, becoming the first former India international Shastri in his home
Pakistani bowler to do so since Mushtaq Ahmed country in 1985.
achieved the feat in December 1996.
July 22, 2016
WADA calls for ban on all Russian athletes Rohit Khandelwal becomes 1st Indian to win
at Rio Olympics Mr. World title
The World Anti-Doping Agency (WADA) has called Rohit Khandelwal has become the first Indian to
on international sports society to ban Russian win the coveted title of Mr. World at a grand
athletes from taking part in all international ceremony at Southport in England.
athletic competitions, including the 2016 Summer The competition saw 47 participants from around
Olympic Games in Brazil in August. the world, giving him a stiff competition.
Rohit Khandelwal received a whopping cash prize
SC accepts Lodha Committee of 50,000 US dollars on winning this celebrated
recommendations title.
The Supreme Court has accepted the Lodha Puerto Rico finished 2nd while Mexico bagged the
Committee's recommendations on Indian cricket 3rd prize.
board BCCI's reforms.
These include barring politicians, bureaucrats and CAS rejects Russia’s appeal against IAAF
people aged over 70 becoming the board's ban on track and field athletes for Rio
members and the principle of one state, one Olympics
vote.But the court has left the decision of RUSSIA’S track and field athletes have been
bringing BCCI under the ambit of RTI and banned from the Olympics and the entire Russian
legalising betting in cricket to Parliament. squad could swiftly follow them out the door.
The pressure on Olympic officials to ban Russia
China to send 416 athletes to Rio 2016 from the Rio Olympics became white hot
Olympics following a landmark decision by the Court of
China will send 416 athletes to Rio de Janeiro, its Arbitration for Sport.
largest overseas delegation in Olympic history, Russia President Vladimir Putin
continuing its pursuit of medals that saw it take
Russia PM Dmitry Medvedev
second spot in the table behind the United States
four years ago. Russia Capital Moscow
The country will send 256 women and 160 men Russia Currency Ruble
to compete in 26 sports.
Trichy: opp BSNL office, Juman Center, 43 Promenade Road, Cantonment. Mob: 9360703030
11
Salem: #209, Muthu Plaza, Junction Main Rd, State Bank Colony, Salem. Mob: 7305958080
Coimbatore: #545, First Floor, Diwan Bahadur Road, RS Puram. Mob: 7667673030 / 7667678080
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Vicente Del Bosque after being named as his
replacement.
Spain PM Mariano Rajoy
Spain Capital Madrid
Spain Currency Euro
Passed Away
July 18 & 19, 2016
Legendary singer Mubarak Begum passes
away in Mumbai
Legendary singer Mubarak Begum passed away
at her residence in Mumbai after a prolonged
illness. She was 80.
Chennai: #1, South Usman Road, T Nagar. Chennai. Mob: 9043303030 / 7601808080 12
Madurai: #24/21, Near Mapillai Vinayagar Theatre, Kalavasal. M: 7695814311 | www.RACEInstitute.in