Scientists claimed that Alcohol can be used to treat Tremors

Scientists at the US National Institutes of Health claimed that alcohol could be used to treat tremors, a brain disorder that triggers exaggerated shaking and occurs during movement. The octanol (a form of alcohol and a colourless ingredient in perfume) can help treat tremor. The tremor can affect people of all ages.

For their experiment, the scientists gave patients a single dose of one milligramme of octanol for each kilogramme of their weight, and found it significantly decreased tremor for up to 90 minutes. In their second experiment, people who had octanol had fewer symptoms of tremor after five hours than those were given a placebo. Symptoms of Tremor

Tremor occurs during movement, but not at rest. It affects not only the arms and hands but also the head, face and feet. In at least half of cases there is a family history as well.

Other causes of similar tremor symptoms include an over-active thyroid, anti-epileptic medication and drugs used to treat psychiatric disorders. In fact, tremor is caused by spontaneous activity in nerve cells in the areas of the brain that control movement.

One theory is that alcohol may help dampen this activity. It is known that alcohol has some effect on this kind of movement because as well as reducing tremor. It can also cause it if drunk excessively.

Union Governemnt raised Export Duty on Iron Ore Exports to 30 per cent from 20 per cent
The Union government raised the ad valorem duty (export duty) on iron ore exports to 30 per cent from 20 per cent. The decision is expected to step up finances of cash-strapped government by around Rs 85009000 crore. The Federation of Indian Mineral Industries, the apex body of miners however complained that Indian ore would no longer be competitive internationally. The increase in export tax could lower the profit margin of Sesa Goa Ltd., India's largest iron-ore exporter by volume.

Steel Minister Virbhadra Singh always wanted more restrictions on exports. Based on his ministrys inputs, Finance Minister Pranab Mukherjee had earlier imposed a 20 per cent duty on exporting the domestically mined mineral. Shipments from the South Asian country decreased 28% between April and November to 40 million tons, according to the Federation of Indian Mineral Industries. Volumes were hit by a mining ban in the southern state of Karnataka, a freeze on sale of old stocks in western Goa state and transport bottlenecks in the eastern state of Orissa. India exported 97.64 million tons iron ore in 2012. Prior to the export tax change, industry officials had estimated exports in 2011-12 to be between 60 million and 65 million tons because of mining-related issues. As a result of high export tax and railway freight, India's iron-ore exports is not likely to exceed 50 million tons in 2011-12. The Supreme Court had in early 2011 banned mining in the major iron-ore producing districts of Karnataka to prevent illegal mining and environmental damage. In Goa, moves to reduce environmental impact and illegal mining affected production. The two states account for around 70% of India's iron-ore exports.

CIL approved the Switching Over to Gross Caloric Value-based Pricing Mechanism
State-owned Coal India (CIL) announced on 2 January 2012 that its board approved in a meeting held on 30 December 2011 the switching over to internationally-accepted Gross Caloric Value-based pricing mechanism. The new system is based on the recommendations of the Integrated Energy Policy Committee and the Expert Committee on Road Map for coal sector reforms. The board approved switching over of non-coking coal pricing from Useful Heat Value based grading system to Gross Caloric Value (GCV) based classification with effect from 1 January 2012. GCV measures the amount of heat released by carbon and hydrogen in coal when it is heated and is an internationally accepted pricing mechanism. the UHV mechanism was followed in India Howeverbecause of the high-ash content in Indian coal. The UHV took into account the heat trapped in ash. In Indian coal, GCV is 25% higher than UHV. The Coal Ministry mentioned that the pricing of coal on GCV-based mechanism was not likely to lead to any significant change in pricing.

The new system will incentivise improvement in quality, resulting in better quality of coal to consumers and commensurate revenue realisation for coal firms. Impact The revision of coal prices as per international norms is believed to raise input costs of power utilities for which consumers may have to pay more once the new price is passed on power tariff. state power utilities will be the worse affected. The state poer utilities will have to step down generation leading to blackouts. Against the seven varieties of UHV coal that was available till 31 December 2011, from 1 January 2012 coal will be sold in 17 price brands ranging from the variety that produces 2200 kilo calorie to one that produces 7000 k cal. In between, there are 15 price bands, each at an incremental rise of 300 k cal. Coal of B, G and F grades will not be affected as new prices will be either same or lower, those using However, power utilities that use different quantity of coal from across the grade spectrum, will be hit by the steep hike in A, D and E category coal. Power utilities is to be be doubly affected as the monopoly has decided to levy 6% extra on coal from Eastern Coalfields Ltd (ECL) since it's a sick subsidiary listed with the Board for Industrial & Financial Restructuring (BIFR). ECL supplies coal to both CESC and WBPDCL. Coal India however opined that coal priceeven after revision of prices would be still be 77% lower than the international prices for power, fertilizer and defence and 25% for others.

RBI Study sought Cap on Borrowings by Non-banking Finance Companies from Banks
Reserve Bank of India (RBI) raised red flags over the high dependability of non-banking finance companies (NBFCs) on the banking system because the apex bank feels that the higher dependence would mean systemic vulnerability in the context that NBFCs are involved in higher risk activities vis--vis the banking system. The higher borrowings of NBFCs from the banking system tend to raise concerns about their liquidity position. More so, if such reliance happens to increase further. The banking systems exposure to NBFCs-D (deposit taking) was observed to have considerably increased over the years. The concerns to be further accentuated in case the banks own liquidity position becomes tight at the time of crisis or even at crisis like situation.

The consolidated balance sheets of NBFCs (both the categories i.e. deposit taking and non-deposit taking and systemically important companies) revealed that more than 68 per cent of the consolidated balance sheet constitutes borrowings. 30 per cent resources of the total 68% are borrowed from banks and financial institutions as at the end of March 2011. Borrowings by way of debentures issued by the NBFCs constituted around 33 per cent and of which a sizeable portion is subscribed by the banking system. Non-banking finance companies (NBFCs) NBFCs do not have any exposure limit on their capital market related activities unlike the banking system. Moreover compared with regulation of banking sector, NBFCs in general, are less stringently regulated as pointed out by various Committees and Working Groups. The total size of the balance sheet of NBFCs-ND-SI (non-deposit taking and systematically important) reached to Rs 730366 crore as at the end of March 2011, from Rs 170957crore as at the end of March 2005 growing more than four fold. The NBFCs-D which is a better regulated segment as compared to NBFC-ND-SI makes up to just around 14 per cent of the latter. The systemically important non-deposit taking NBFCs have grown faster by nearly 7 fold as at the end of March 2011 when compared with the size of deposit taking NBFCs. As NBFC-ND-SI companies are not permitted to raise public deposits, borrowings constitute the major component of their liabilities at around 74 per cent by end of March 2005, coming down to around 65 per cent by end-March 2009 on account of the global financial crisis, and thereafter rose to 69 per cent by end-March 2011. RBI Study According to a RBI study, non-deposit taking NBFCs is likely to lead to more systemic risks, owing to their reliance on banks for funding needs. The study discouraged NBFCs from raising public deposits, these become non-deposit taking, while increasingly substituting public deposits with borrowings from the banking system. Non-banking financial companies heavily depend on banks for meeting their funding needs, as many of these are not allowed to raise deposits. However, by borrowing through banks, these indirectly use public deposits, on a much larger scale than by raising deposits on their own. The study mentioned that due to high inter-connectedness, the vulnerability of the financial system may increase due to high inter-dependability.

Apart from suggesting a cap on the borrowing limit of ND-NBFCs from banks, the working paper also suggested NBFCs should diversify their sources of funds.

Indias Exports recorded Slowest Pace of Growth in Two Years at 3.8 per cent in November 2011
As per the to Commerce Ministry data released on 2 January 2012, Indias exports recorded their slowest pace of growth in two years at 3.8 per cent in November 2011 as a result of the global slowdown. Moderation in demand in developed markets also impacted export. The growth rate was the lowest since October 2009, when exported had contracted by 6.6 per cent. The commerce ministry had overestimated exports by over $9 billion due to software upgrade and punching errors that prompted a revision of data revision for the previous eight months. The data on engineering exports was inflated by around $15 billion, while export of gems and jewellery and petroleum products was underestimated by $12 billion. Export Exports grew 3.87% to $22.3 billion in November, 2011, compared to $21.49 billion in November 2010. exports for the current fiscal is expected to be around $280 billion, below the $300 billion target for 201112 due to global economic slowdown. The country's overseas shipments had amounted to $21.48 billion in November 2010. According to export body Fieo Director General Ajay Sahai, further decine in export will push export growth ina negetive zone. From 82 per cent in July, export growth slipped to 44.25 per cent in August, 36.36 per cent in September and 10.8 per cent in October. In the eight-month April-November period, exports aggregated to $192.69 billion, a year-on-year growth of 24.55 per cent. Experts opined that the country's exports growth during the entire fiscal would stand at about 20 per cent. Import Imports were up 24.5% at $35.92 billion in November 2011. In November, 2010, imports aggregated $28.84 billion. Oil imports grew by 32.28 per cent to USD 10.3 billion in November 2011 while non-oil imports rose by 21.69 per cent to $25.6 billion vis-a-vis the year-ago period. Between April and November oil imports stood at $94.1billion, an increase of 42.67% compared to $65.97 billion in

November 2011. Non-oil imports, a key gauge of economic activity, rose 25.46% to $ 215.41 billion during the April-November period. Trade Deficit Imports grew at a faster rate of 24.5 per cent year-on-year to $35.9 billion in November 2011 which in the process translated into a trade deficit of $13.6 billion. Between April-November exports grew 33.2% to $192.7 billion while imports also rose 30.2% to $ 309.53 billion. The trade deficit during the eight months of the fiscal year therefore stood at $116.8 billion.

PMI Designed to Measure Performance of the Manufacturing Sector released by HSBC

The HSBC Purchasing Managers' Index ( PMI) - a headline index designed to measure the overall performance of the manufacturing sector - registered 54.2 in December, up from 51.0 in November. The PMI was released by the banking major HSBC on 2 January 2012. The index indicated the strongest improvement in business conditions since June 2011. New orders from overseas clients also grew at a faster pace than November 2011, the second consecutive expansion after shrinking for four months. Indias manufacturing activity was at a a six-month high in December 2011 on account of an increase in factory output and new orders from domestic and international firms. The HSBC Markit India Manufacturing PMI jumped to 54.2 from 51.0 in November, its biggest monthly rise since April, 2009. The index stayed above the 50 mark that separates growth from contraction for 33 months now. The PMI or Purchasing Managers Index dipped to 50.4 in September 2011. Data released by the government had showed a 5.1 per cent contraction in the IIP numbers in October 2011, its slowest since March, 2009. The successive rate hikes by the RBI and weak macroeconomic conditions domestically and globally were blamed for the contraction. The official industrial output data showed factory output plunged 5.1% in October, raising worries about the health of the manufacturing sector. This was the first fall in industrial output in nearly two years. Manufacturing sector employment also increased slightly during December 2011, ending a period of job losses that had set in during August 2011. Costs went up on higher prices of raw materials and fuel on the input front, adding with higher demand. The demand from clients allowed manufacturing companies to increase output prices at an accelerated pace to pass on the costs.

Madhya Pradesh Cow Slaughter Ban Act was approved by the President
Madhya Pradesh Gau- Vansh Vadh Pratishedh (Sansodhan) Vidheyak(Madhya Pradesh prohibition of slaughter of cow-progeny (amendment) Bill was approved by the President on 22 December 2011. Under the amendment act, the onus would be on the accused to prove prosecution wrong if found guilty in a cow slaughter case. The guilty person would be liable for 7 years imprisonment, instead of the present 3 years. He will also have to pay a minimum fine of 5000 rupees. The MP state government had passed the amendment Bill in 2010 in the assembly to boost the existing cow slaughter prohibition Act (Madhya Pradesh Gauvansh Pratishedh Adhiniyam 2004). The bill was forwarded to the Union Home Ministry on 3 September 2010. The bill received the Presidential assent following the approval of Indian Parliament.

RBI allowed NRIs to hedge their Currency Risk in respect of External Commercial Borrowings (ECB)
The Reserve Bank of India on 29 December 2011 allowed non-residents to hedge their currency risk in respect of external commercial borrowings (ECB) denominated in rupees, with AD Category-I (authorised dealer) banks in India. The apex bank mentioned that the amount and tenor of the hedge cannot not exceed that of the underlying transaction. Besides, it should be in consonance with the extant regulations regarding tenor of payment or realisation of the proceeds. The NGOs (non-Government organisations) engaged in microfinance activities were permitted to avail themselves of ECBs designated in Indian rupee under the automatic route from overseas organisations and individuals as per the ECB guidelines. According to the RBI, once cancelled the contracts cannot be rebooked. The contracts may, however, be rolled over on or before maturity. On cancellation of the contracts, gains may be passed on to the customer. Eligible borrowers were permitted to avail of ECBs designated in Indian rupees from foreign equity holders under the automatic/ approval route, as the case may be, as per the extant ECB guidelines.

Food Inflation fell to its Lowest Level in Six Years at 0.42% for the Week ended 17 December 2011
According to data released on 29 December 2011, food inflation fell to its lowest level in six years at 0.42 per cent for the week ended 17 December with a sharp decline in prices of essential items like onions and potatoes. The fall is likely to prompt the RBI to cut interest rates at its policy review in January 2012. Food inflation declined to below 1 per cent, the lowest since April 2006. Food inflation was in double digits in early November 2011. It stood at 1.81 per cent in the previous week ended 10 December 2011. Experts attributed the fall to a good kharif harvest as well as a high base. Food items have a 14 per cent share in the overall Wholesale Price Index (WPI) basket. Onion prices grew cheaper by 59.04 per cent year-on-year during the week under review, while potato prices were down by 33.76 per cent. Prices of wheat also fell by 3.30 per cent. Overall, vegetables became cheaper by 36.02 per cent. Inflation in the vegetable and wheat segments eased during the reporting week but prices of protein-rich items such as eggs, milk and pulses continued to remain high. Pulses grew costlier by 14.07 per cent during the week under review, while milk grew dearer by 11.30 per cent and eggs, meat and fish by 11.56 per cent.Inflation in the overall primary articles category stood at 2.70 per cent during the week ended December 17, as against 3.78 per cent in the previous week ended 10 December 2011.

Inflation in the non-food segment, which includes fibres and oilseeds, was recorded at 0.28 per cent during the week under review, as against 1.37 per cent in the week ended 3 December. Fuel and power inflation stood at 14.37 per cent during the week ended 17 December as against 15.24 per cent in the previous week. Headline inflation remained above 9 per cent-mark since December 2010. It stood at 9.11 per cent in December and the RBI had projected it to fall to 7 per cent by March 2012. Manufactured inflation, which forms over 65 per cent of the WPI basket, is hovering around 8 per cent.

BRPSE recommended Financial Package of Rs 257 crore to revive the Sick Newsprint Unit NEPA

The Board for Reconstruction of Public Sector Enterprises (BRPSE) recommended a financial package of Rs 257 crore to revive the sick newsprint unit NEPA. The initiative was taken after the government shelved its plan to divest majority stake in the company and revive it through a joint venture with the private sector. The government holds 97.75% in NEPA. BRPSE also favoured the waiving off NEPA's interest and statutory dues worth Rs 304 crore. The Board for Reconstruction of Public Sector Enterprises suggestion was made to NEPA's administrative ministry, the Department of Heavy Industry. BRPSE suggested the department to infuse Rs 175 crore in the form of fresh equity to meet part-finance of total expenditure of Rs 318 crore for Revival and Mill Development Plan (RMDP). It also recommended sanction of non-plan loan of Rs 22.48 crore towards cash loss from production for the first year of production. The Madhya Pradesh-based company suffered a loss of Rs 70.40 crore in 2010-11. BRPSE also suggested Rs 60 crore for implementing Voluntary Retirement Scheme (VRS) for 400 employees. NEPA, which pioneered manufacturing of newsprint, commenced production in April 1956 with an installed annual capacity of 30000 tonne through sourcing raw materials from captive Salai wood and bamboo. The company employed 1355 regular employees, including executives 178 and non-executives 1177, as on 31 March 2010.

Controversial South African Indian Politician Amichand Rajbansi passed away

Charismatic and controversial South African Indian politician Amichand Rajbansi died on 29 December 2011 in Durban, South Africa. He was nicknamed The Bengal Tiger because of his fiery nature. Rajbansi courted political controversy throughout his career but remained popular with a section of the Indian community which repeatedly voted him back into positions through his Minority Front party. A decade after the first democratic elections in 1994 that saw Nelson Mandela become President, Rajbansi who had renamed his party the Minority Front, became a kingmaker giving the ANC a majority after he threw his lot in with them. He was in turn rewarded with the post of Sports Minister in his home province, but lost the same during the last elections. Rajbansi had served as Sport and Recreation MEC in

the ANC-led provincial cabinet from 2004-2009 as a result of a coalition agreement between the MF and ANC. In 1998, then white minority National Party Prime Minister PW Botha sacked Rajbansi after allegations of irregularities committed by Rajbansi surface. He was then described as arrogant, unscrupulous, ruthless and a mean-minded bully. Rajbansi had received a Lifetime Achievement Award from the India International Friendship Society in New Delhi in January 2009.

Peoples National Party won Parliamentary Elections in Jamaica

Jamaica:Jamaica is an island nation. It is situated in the Caribbean Sea. Jamaica's main opposition party has won the country's parliamentary elections, while the ruling Jamaica Labour Party conceded defeat. Preliminary results showed that with 50 percent of the votes counted, the opposition People's National Party is expected to win 42 out of the total 63 parliamentary seats.

USA and Saudi Arabia inked an Agreement worth 29.4 billion US Dollars
In one of their biggest arms deal, the US and Saudi Arabia on 28 December 2011 inked an agreement worth 29.4 billion US dollars for the sale of 80 new F-15SA combat jets and modernisation of another 70. These F-15SA aircraft, manufactured by The Boeing Company, are among the most sophisticated and capable aircraft in the world.

Sibsagr in Assam to have Indias first Cooperative University

Sibsagar in Assam: The country's first cooperative university will be set up here India's first cooperative university will be set up at Sibsagar in Assam. To be known as the Rajiv Gandhi University of Cooperative Management, it will offer courses on cooperative management and train existing manpower in both the government and the private sectors, to manage the cooperative sector.

China issued a White Paper on its Space Activities

China on 29 December 2011 issued a white paper entitled Chinas Space Activities in 2011. The white paper is on the development of space industry since 2006 and the major tasks for the next five years. It was the third white paper on Chinas space activities. The white paper was issued by the State Council Information Office. China has made the space industry an important part of the nations overall development strategy with the objective of exploring and utilizing outer space for peaceful purposes.

The Major tasks , which were listed in the white paper for the next five years include space transportation system, Earth satellites, human spaceflights and deep-space exploration.

The white paper stated that China would work together with the international community to promote world peace and development.

Leading Writers & Journalists presented with Bharatendu Harish Chandra Awards for 2009 & 2010
Fourteen persons (Leading writers and journalists) were given Bharatendu Harish Chandra Awards for 2009 and 2010 by Minister of State for Information and Broadcasting, S Jagathrakshakan on 28 December 2011. 2009 Winners The first prize in the Journalism and Mass Communication category for the year 2009 was awarded to Dilip Chandra Mandal for his manuscript Corporate, Loktantra aur Paid News. Kumud Sharmas book Samachar Bazar ki Naitikta bagged the second prize. The third prize went jointly to Shivananda Kamde for his book Cartoon Patrakarita and Dr. Akela Bhai for his book Radio Sahitya aur Patrakarita. In the Womens issues category, the first prize for 2009 was given to Lata Kot for her manuscript Adha Asmaan Hamara. The first prize in Childrens Literature category for 2009 was given to Ghamandi Lal Agrawal for his book Geet Gyan Vigyan Ke and the second prize to Renu Saini for her manuscript Bachpan ka Safar. 2010 Winners For 2010 the second prize in Journalism and Mass Communication category was awarded to Pranjal

Dhars manuscript Samkaleen Vaishwik Patrakarita Mei Akhbaar. No one was awarded first prize for 2010 in this category. In Womens issues category for 2010, Suman Rais book Gharelu Hinsa mein Mahila Sanrakshan Adhiniyam 2005, 2006 got the first prize. Sanjeev Jaiswal Sanjays book Dooba Hua Qila and the book Cycle Par Thaa Kavva by Prabhat received the first and second prize respectively in the Childrens Literature category. In the National Integration category for 2010, Shiv Kumar Rais manuscript Meri Jati Bhartiya was given the first prize. Bharatendu Harish Chandra Awards The Bhartendu Harishchandra Awards are given to published or unpublished books in four categoriesJournalism and Mass Communication, Womens Issues, Childrens Literature and National Integration. The awards were instituted in 1983 to encourage original Hindi writings on topics related to journalism and mass communication. Awards for writings on womens issues, childrens literature and national integration were included in from 1992-93. The Awards scheme is coordinated by Publications Division, Ministry of Information and Broadcasting, Government of India. The Ministry of Information & Broadcasting, increased the Bhartendu Harishchandra award money from the year 2009. For journalism and mass communication categories, the first prize now carries an award of Rs 75000, up from Rs 35000 earlier. The amount for the second prize was increased from Rs 25000 to Rs.50000 and the third from Rs.20000 to Rs.40000. For books in category of Womens Issues, Childrens Literature and National Integration, the first prize carries an award of Rs 40000 instead of Rs.15000 and the second prize Rs.20000 instead of Rs.10000.

Deepak Parekh resigned from the Board of Hindustan Unilever (HUL)

Hindustan Unilever (HUL) informed the Bombay Stock Exchange on 28 December 2011 that Deepak Parekh, an Independent Director on the Board of HUL resigned after a tenure of more than 14 years. Parekh stepped down as Director from the board of Hindustan Oil Exploration Company (HOEC). He was associated with the company since its formative years according to HOEC's filing to the BSE. HOEC was incorporated in 1983 and commenced operational activities in 1991.

Parekh had joined the HUL board as an independent director in May 1997. He was also the chairman of the audit committee. Parekh continues to be on the boards of all HDFC Group companies (except HDFC Bank), Mahindra & Mahindra, Castrol India and Indian Hotels Company Limited. Parekh is also non-executive Chairman at GlaxoSmithkline Pharmaceuticals, Infrastructure Development Finance Corporation and Siemens India Ltd.

Realty Giant DLF sold IT Special Economic Zone (SEZ) in Pune to Private Equity Firm Blackstone
Realty giant DLF, and its partner Hubtown in a joint venture, DLF Ackruti Info Parks sold its IT special economic zone (SEZ) in Pune to private equity firm Blackstone for Rs.810 crore. DLF and Hubtown held 67 per cent and 33 per cent stake respectively in the joint venture firm DLF Ackruti Info Parks (Pune). Real estate firm Ackruti City has been rechristened Hubtown Ltd. The transaction is in line with DLF's continuing objective of divesting its non-strategic assets. DLF, the country's largest realty firm, is currently selling its non-core assets such as hotels and plots in the last few years to cut debt, which stood at Rs.22519 crore as on 30 September 2011. DLF could so far raised Rs.3480 crore from sale of non-core assets and is planning to raise about Rs.7000 crore in the next 2-3 years. It is aiming to bring down its total debt to about Rs.10000 crore by 2013 and as part of this strategy, the firm is closing in on a few deals to sell non-core assets. The company expects to raise about Rs.3000 crore by March 2012 through the sale of non-core assets such as IT Park in Noida and hospitality business Amanresorts.

The Cyclonic Storm Thane formed over South-West Bay of Bengal

Thane: Cyclonic storm in India The cyclonic storm 'Thane' formed in the last week of December 2011 over South-East and adjoining South-West Bay of Bengal moved Westwards and lay centred over South-West and adjoining South-East Bay of Bengal, about 750 Km South of Gopalpur.The severe cyclonic storm lays centred in East Southeast of Bay of Bengal, 350 kilometres off Chennai coast.

The system is likely to move West-North-Westwards and intensify into a severe cyclonic storm during the next 24 hours.

Indias IMR showed 3 Point Decline, dropping from 50 to 47 Deaths per 1000 Live Births
Indias infant mortality rate (IMR) showed a 3 point decline, dropping from 50 deaths per 1,000 live births to 47, as per government data released on 28 December 2011. India thus moved closer to achieving the Millennium Development Goals (MDG) target of 30. While the IMR national average is 47, it stands at 51 in the rural areas and 31 in the urban regions. According to estimates available with health and family welfare ministry, 17 lakh children under five die annually, out of which 13 lakh are infants. Another 7 lakh deaths occur within the first week. The main cause of death in 50 per cent of cases is malnutrition. Other top reasons attributed to child mortality arediarrhea, pneumonia and measles. State-wise Analysis According to the latest Sample Registration System (SRS), conducted by the Registrar-General of India, the two worst performing States, Madhya Pradesh and Himachal Pradesh showed an impressive 5 point decline. In MP, the figure dropped from 67 in 2009 to 62 in 2010 and in HP, it dropped from 45 to 40. Madhya Pradesh and Himachal Pradesh were the two best performers as they brought down the number of child deaths by five points. Madhya Pradesh and Himachal Pradesh stood out with a five-point drop each in one year. However, the figure stood at 62 deaths per 1000 in MP. In Himachal, the infant mortality rate was 40. However, despite MPs good performance in the last one year, on a national level MP along with Odisha and Uttar Pradesh are the three worst performers with an IMR above 60. The IMR declined by three points in Karnataka and Delhi. Both states fared better than the national average. While it dropped from 41 in 2009 to 38 in 2010 in Karnataka, in Delhi, the drop was from 33 to 30. Bihar, Gujarat, Odisha, Punjab, Rajasthan, Tamil Nadu, Meghalaya, Sikkim and Tripura had shown a four-point decline in the IMR. Andhra Pradesh, Assam, Chhattisgarh, Haryana, Karnataka, Maharashtra, Delhi, Nagaland, Uttarakhand and Chandigarh showed a three-point decline. In Jharkhand, Uttar Pradesh, West Bengal, Jammu and Kashmir, Manipur and Andaman and Nicobar Islands, the IMR came down by two points.

States where the infant mortality rate continue to remain higher than the national average include Assam (58), Bihar (48), UP (61), Chhattisgarh (51) and Meghalaya (55). IMR increased by one point in Kerala, Mizoram and Dadra and Nagar Haveli. Kerala, Goa, Manipur and Nagaland are the only four states that achieved an IMR below the MDG target so far. The same also holds true for Union territories Andaman and Nicobar islands, Chandigarh, Daman and Diu, Lakshadweep and Puducherry. It remained static in Lakshdweep and Puducherry. Neo-natal deaths However, neo-natal deaths (babies who die within 28 days) continue to be a challenge where 34 babies are still dying for every 1000 born. Efforts would have to be concentrated on home-based newborn-care as 52 per cent of child deaths took place in the first 28 days of birth. Initiatives to control child mortality Home-based newborn-care through Accredited Social Health Activists (ASHAs) was initiated by providing an incentive of Rs. 250. The purpose of home-based newborn-care is to improve newborn practices at the community level and early detection and referral of sick newborns. The Janani Shishu Suraksha Karyakram, providing for free transport, food and drugs and diagnostics to all pregnant women and sick newborns has been put in place to further promote institutional delivery and eliminate out-of-pocket expenses, which act as a barrier to seeking institutional care. Facilities such as Special New Born Care Units, New Born Stabilisation Units and New Born Baby Corners at different levels with at least one at the district level are expected to be put in place. The mother and child tracking system also evoked a huge response, with 1.32 crore women and 82.6 lakh children already registered.

Maharashtra Government to provide Free Medicare for 50 lakh Poor Families

Maharashtra state government on 28 December 2011 planned to spend 800 crore rupees on the first phase of a health scheme for the poor. This plan will benefit 50 lakh families from eight districts. The health scheme will be executed under the Rajiv Gandhi Jeevandayee Arogya Yojana. Under this yojana any family earning below 1 lakh rupees per annum will be given free medical treatment worth 1.5 lakh rupees a year.

WB Government decided to turn Indira Bhavan into Museum & Research Centre devoted to Nazrul Islam
The West Bengal Government on 28 December 2011 declared its decision to take over Indira Bhavan, which was the official residence of former Chief Minister Jyoti Basu at Salt Lake. West Bengal CM Mamata Banerjee declared that Indira Bhavan would be turned into a museum and a research centre devoted to Kavi Nazrul Islam, a contemporary of Rabindranath Tagore. After the death of Jyoti Basu in 2010, the previous government (CPIM) had mulled many options including converting it into a government guest house. The decision to convert Indira Bhavan into Nazrul Bhavan was taken in public interest and to promote research work on the great rebel poet. The Nazrul Bhavan would house a research centre and museum on the great rebel poet who made a memorable contribution to the country's freedom movement. All furniture and other belongings of former Chief Minister Jyoti Basu would be handed over to his family or party. The building will house primarily the poet's memorabilia, his books and research on the poet's works. The project on Kazi Nazrul was announced earlier. However it was not known then where the research centre and museum on Kazi Nazrul Islam would be housed. The process of handing over the property to the state government is expected to be completed by 31 December 2011. The property will then be under the state urban development department. Since 2000, Alimuddin Street (CPIM party office) used to pay about Rs 8880 per month to the state urban development department as rent for Indira Bhavan and rent for the bungalow had been paid in advance till December 2011. The bungalow was named Indira Bhavan during the Congress Session in 1972 when the then Prime Minister Indira Gandhi stayed there for the duration of the session. Indira Bhavan was built in 1972 primarily to serve as a guest house for then Prime Minister Indira Gandhi for her visits to the city. The Left Front government later decided to allot Indira Bhavan for Basu to live in and he had moved into the bungalow in August 1989. Since then, he continued to live there till his death in 2010.

Iran threatened to close the Strait of Hormouz

Strait of Hormuz: Located between the Gulf of Oman and the Persian Gulf Iran has threatened to close the Strait if Western nations place an embargo on Iranian oil. Iranian navy is currently holding exercises close to the Strait. The Strait of Hormuz is a narrow, strategically important strait between the Gulf of Oman in the southeast and the Persian Gulf. The strait is the only sea passage to the open ocean for large areas of the Persian Gulf

Union Government Quadrupled Limits on Loans that a Banks Internal Committee can Approve
The Union government quadrupled (four times) the limits on loans that a banks internal committee can approve. The giovernments move is expected to quicken credit clearance at 26 state-run banks, including the Bank of Baroda and Punjab National Bank. The government directed banks to set up a credit approval committee comprising chairman, executive directors and three chief general managers who is to handle credit, finance and risk management functions. The group can approve credit proposals up to Rs 400 crore. Currently, any loan above Rs 100 crore has to be vetted by the management committee of the board, which meet once a month, or 20 days. Under the old regime, a management committee of the board, which included a Reserve Bank of India nominee and two independent directors appointed by rotation, the banks chairman and managing director and executive directors, took these decisions. The prescribed limit is applicable on Category A banks with a business of Rs 3 lakh crore, while smaller public sector banks can use the same structure to approve loans up to Rs 250 crore. If a loan under consideration is higher than these limits, it would be take to the management board. However those who oppose the move mentioned that the banking system need to have a robust credit risk management policy, otherwise it may result into increase in nonperforming assets. The credit approval committee replaced the boards management committee. The two are significantly different. The MCB has outside members as well such as RBI nominee and independent directors, the new committee on the other hand comprises two EDs and chief general managers, who report to the CMD.

Reserve Bank of India ordered Banks to set aside more Capital for Investments in Financial Entities
The Reserve Bank of India (RBI) ordered banks to set aside more capital for their investments in financial entities such as insurance with an objective to strengthens the ring fence around banks. However the move can strain capital resources which are increasingly getting scarce. The RBI proposed the raise in risk weight to prevent banks from getting affected because of their holdings in other finance entities. The banks are to set aside 25% more capital following the central bank raise of the risk weight for buying or holding of equity in financial entities. Banks investments in paid-up equity of financial entities, even if they are exempted from the capital market exposure norms, will thus be assigned a 125 percent risk weight. The proposal is expected to lead banks, which at present set aside Rs 9 for every Rs 100 of investment in financial entities, to keep aside about Rs 11. As per the apex bank, inter-linkages between insurance and banking sector are a matter of concern, as many insurance companies being part of financial conglomerates. Any financial stability issue regarding the bank in the conglomerate therefore may have an amplifying effect on the insurer. The contagion between the banking and insurance sector will also depend on the insurance companies overall exposure to banks. RBI opined that consolidation in the banking sector would pave the way for stronger financial institutions with the capacity to meet corporate and infrastructure funding needs, and to rescue distressed lenders. However, it prescribed a non-operative bank holding company structure to avoid creation of complex institutions. Voluntary mergers and transfers help consolidation in the financial sector and pave the way for stronger financial institutions to rescue the weaker ones. These voluntary measures provide business opportunity to the stronger ones to spread their presence in different geographies. The Competition Act, 2002 (as amended by the Competition (Amendment) Act, 2007) could however come in the way of consolidation. One of the provisions of the Act requirean enterprise proposing to enter into a combination via a merger or an amalgamation to notify the Competition Commission.

China won the Gold Medal with 16 points in the World Women's Team Chess Championship
The Indian team finished at the fourth position in the World Women's Team Chess Championship at Mardin,Turkey on 27 December 2011. India's chances of winning a medal was blown away following a loss to Georgia and then China. The losses by Tania Sachdev and Soumya Swaminathan of India paved the way for an easy Georgian victory in the end. China won the gold medal with 16 points while the silver was claimed by the Russians who finished with 13 points in all. Georgia ended with the bronze while India and Ukraine were tied for the fourth spot. Ukraine caused the biggest surprise of the championship with a sensational 2.5-1.5 victory over leaders China. Though China was not much affected, the helped the Ukrainian eves come into reckoning after a rather subdued performance in the first half.

Telecom Commission recommended a Uniform Licence Fee of 8 per cent of AGR

telecom Commission, the decision-making body of the Department of Telecommunications recommended a uniform licence fee of 8 per cent of adjusted gross revenues (AGR). Uniform license fee of 8 % was recommended as against the prevalent rate of 6-8 per cent depending upon the type of service and circle a firm is operating. The Commissions move will put more financial pressure on telecom operators. The Telecom Commission is also likely to impose one-time charges on extra 2G spectrum that operators have been holding beyond the contractual limit of 6.2 MHz. The Telecom Regulatory Authority of India (TRAI) also recommended a charge of 8 per cent of AGR for deciding the license fee. TRAI recommended that each MHz of additional spectrum (beyond 6.2 MHz of contractual radio waves) held by operators should have one-time cost of Rs.4571.87 crore (pan-India). The Telecom Commission futher specified that in future additional spectrum would be allotted through the auction route. The Telecom Commission had accepted the TRAI recommendation on merger and acquisition (M&A), which according to the Commission would help consolidation of the mobile sector that currently has around a dozen players, the highest in the world.

The Commission accepted the TRAI's recommendations on spectrum sharing as well. The spectrum sharing would be permitted between any two licensees holding spectrum, subject to the condition that the total bandwidth would not cross the permissible limit under mergers. The permission would be for five years, subject to renewal for one more term of five years. As per the new regulation, pre-2008 operators will need to pay one-time additional spectrum charge. The operators are currently paying about 6-10%, depending on the circles they operate in. The new figure of 8% is much more than what the TRAI had earlier suggested at 6%.

RBI directed Banks to issue Cheques conforming to Cheque Truncation System 2010 Standard
The Reserve Bank on 27 December 2011 directed all banks to issue cheques conforming to Cheque Truncation System (CTS) 2010 standard with uniform features from 1 April 2012 onwards. All banks providing cheque facility to their customers were advised to issue only CTS-2010 standard cheques not later than 1 April 2012 on priority basis in northern and southern region. The two- northern and southern region will be part of the northern and southern CTS grids respectively. CTS-2010 standard cheques are to be issued by banks across the country by 30 September 2012 through a time bound action plan. The Indian Banks Association ( IBA) and National Payment Corporation of India ( NPCI) were vested with the responsibility of coordinating and implementing the uniform cheque standard across the country by all participating banks. Need for the CTS The introduction of new cheque standards 'CTS 2010' was needed on account of several developments in the cheque clearing: growing use of multi-city and payable-at-par cheques at any branch of a bank, increasing popularity of Speed Clearing for local processing of outstation cheques and implementation of grid based Cheque Truncation System (CTS) for image-based cheque processing etc Advantage of the CTS The new cheque standard CTS 2010 with set of minimum security features will ensure uniformity across all cheque forms issued by banks in the country as well as help presenting banks while scrutinising and recognising cheques of drawee banks in an image-based processing scenario, RBI said in a notification.

The homogeneity in security features is also expected to act as a deterrent against cheque frauds. Also, the standardisation of field placements on cheque forms would enable straight-through-processing both under CTS and MICR clearing. Current Practise At present in most parts of the country banks have to physically move cheques presented to them for clearing to the clearing house. The cheques are then sent to the issuing banks which verify the signature before releasing the funds. Under RBI cheque truncation programme banks will release payments based on images of cheques conveyed to them.

Investment Advisors to be registered with Self-regulatory Organisation (SRO) as per SEBIs Rule
The Securities and Exchange Board of India (SEBI) proposed new rules for investment advisors under which the advisors would be required to be registered with a self-regulatory organisation (SRO) before undertaking such a role (role of an advisor). The proposed framework was proposed with an objective to regulate investment advisory services in various forms, including independent financial advisors, banks, distributors and fund managers. While the activity of giving investment advice will be regulated under the proposed framework through an SRO, issues relating to financial products other than securities will come under the jurisdiction of the respective sector regulators. Persons or entities seeking registration as investment advisors shall have to obtain it from the SRO. The SRO formed to regulate investment advisors will be registered under the SEBI (Self Regulatory Organisation) Regulations, 2004. The duties of the SRO will include registering and setting minimum professional standards, including certification of investment advisors, laying down rules and regulations and enforcing those, informing and educating the investing public, setting up and administering a disputes resolution forum for investors and registered entities. Those entities registered with the SRO will provide advice on investments in financial products or products that are traded and settled like financial products. The services will include financial advice, financial planning service and actions which would influence an investment decision.

Rajya Sabha approved the Export- Import Bank of India Amendment Bill, 2011
Rajya Sabha approved the Export-Import Bank of India Amendment Bill, 2011, on 27 December 2011. It aims at promoting international trade by raising the capital funds of overseas trading from two thousand crore rupees to ten thousand crore rupees. The Bill was passed by the Lok Sabha earlier.

32nd Sahara Senior National Archery Championship to be held in Jamshedpur 24 to 29 January 2012
The Archery Association of India (AAI) announced in late December 2011 that the 32nd Sahara senior National archery championship (recurve and compound) will be held at the JRD Tata Sports Complex, Jamshedpur from 24 to 29 January 2012. The meet is to serve as the selection trials for aspirants of a place in the Indian archery team for the first Asian Grand Prix at Bangkok scheduled to be held 14 to 20 February 2012. The best five finishers in the men's recurve section will vie for three places in the Indian team, and the best five women will vie for one spot in the women's recurve team at a selection trials to be held at SAI, Eastern Centre, from 3 to 6 February 2012. The AAI retained Jayanta Talukdar and the three women archers, Chekrovolu Swuro, Deepika Kumari and L. Bombayla Devi, in the Indian team for all international competition till the London Olympics since they earned the country four Olympic quota places. Four men and as many women compound archers will be selected out of top eight finishers in both the men's and women's sections at the Jamshedpur National for the Kolkata trials. The AAI also announced the postponement of the 19th Sahara senior National (Indian round) archery championship scheduled to be held at Raipur (Chhattisgarh) from 9 to 13 January 2012. The meet was postponed till the last week of March 2012.

India and Pakistan concluded their Sixth Round of talks in Islamabad

India and Pakistan concluded their Sixth Round of Expert Level Talks on Nuclear Confidence Building Measures in Islamabad on 27 December 2011. In this meeting, both the nations agreed to recommend to their foreign secretaries to extend the validity of the agreement on reducing the risk from accidents relating to nuclear weapons. Pakistan suggested to India that heavy artillery should be removed from the Line of Control in Jammu and Kashmir. India and Pakistan also reviewed the implementation and strengthening of CBMs in the framework of Lahore MoU. The nations also agreed to explore possibilities for mutually acceptable additional CBMs. India and Pakistan discussed a proposal seeking a cooperative mechanism to deal with a crisis like Fukushima.

Lok Sabha Passed the Lokpal and Lokayukta Bill, 2011

The Lok Sabha on 27 December 2011, approved the Lokpal and Lokayukta Bill, 2011 with the government making it clear that setting up of Lokayuktas by the states would not be mandatory. However, the Constitutional Amendment Bill, designed to confer constitutional status on the anti-corruption watchdog, fell through, as the government failed to get two-thirds support for it. The Lokpal and Lokayukta Bill, 2011 was approved after the government moved a few other key amendments, including keeping the Defence Forces and Coast Guard personnel out of the purview of the anti-graft ombudsman and increasing the exemption time of former MPs from five to seven years. A number of amendments moved by the Opposition, including Corporates, Media and NGOs receiving donations, were defeated. The government rejected the opposition's demand to bring CBI under Lokpal.

A team of 50 Arab League Observers arrived in Damascus, Syria

A team of 50 Arab League Observers arrived in Damascus in Syria on 26 December 2011. The team consisting of experts from Algeria and Tunisia is led by Sudanese General Mustafa Daby. It would take about a week for Arab League to find out if the peace plan is being implemented in totality. The Arab Observer mission to monitor the implementation of League mediated peace plan would visit the worst hit cities in phases. However, the group will maintain an element of surprise by only announcing the specific areas they would be visiting on the same day of departure. The 50-member group consists of politicians, lawmakers and military officials. They will split themselves into ten groups for different cities. The team is likely to visit Homs amidst reports of killings of 23 people by the security forces.

Rajya Sabha approved the Regulation of Factor (Assignments Receivable) Bill, 2011
rajya Sabha approved the Regulation of Factor (Assignments Receivable Bill, 2011) on 27 December 2011 to help micro, small and medium enterprises.The bill aims at regulating assignment of receivables by making provision for registration of the rights and obligations of parties to contract. It applies to all types of industry whether it is small, medium or big. It will help mitigate the payment problem of the MSME units. Factors will be regulated by the Reserve Bank of India. The Lok Sabha had already passed the bill.

China launched a High-Speed Bullet Train in Quingdao, Shandong

China on 23 December 2011 launched a high-speed bullet train in Quingdao, Shandong province. Its speed can reach up to 500 kilometre per hour. The train was launched by Chinas largest rail vehicle maker, CSR Corp. Ltd. The six-car train has a maximum tractive power of 22800 kilowatts, compared with 9600 kilowatts for the CRH380 trains.The train is made from plastic materials reinforced with carbon fibre. It is designed to resemble an ancient Chinese sword. CRH 380 trains are currently in service on the Beijing-Shanghai High-speed Railway. It holds the world speed record of 300 kilometres per hour.China has the largest network of bullet-train track in the world, with 8000 miles of track.

RBI tightened the Capital Adequacy Norms for all Non-banking Financial Companies (NBFCs)
The Reserve Bank on 26 December 2011 tightened the prudential norms for the non-banking financial companies (NBFCs) under which the NBFCs will have to account for risks towards off-balance sheet items while computing capital adequacy requirement. The NBFCs can thus participate in the credit default swap market only as users. As users, the NBFCs would be permitted only to hedge their credit risk on corporate bonds they hold. However, they are not permitted to sell protection. They are therefore not permitted to enter into short positions in the credit

default contracts. NBFCs are however permitted to exit their bought CDS positions by unwinding them with the original counter-party or by assigning them in favour of buyer of the underlying bond. RBI also tightened the capital adequacy norms for all NBFCs. The rule tightening exercise comes in the wake of their stepped-up exposure to off- balance sheet items.The RBI revised capital adequacy norms for non-banking finance companies (NBFCs) with an objective to improve their capacity and help manage off-balance sheet exposure. The regulatory framework was expanded to have greater granularity in the risk weights and credit conversion factors for different types of off-balance sheet items. The RBI prescribed that the total risk weighted off-balance sheet credit exposure be calculated as the sum of the risk weighted amount of the market-related and non-market related off-balance sheet items. The RBI specified that for the off-balance sheet items already contracted by NBFCs, the risk weight shall be applicable with effect from the financial year beginning 1 April 2012. As per the apex bank, off-balance sheet exposures of NBFCs have increased with the increased participation in the designated currency options and futures and interest rate futures as clients for the purpose of hedging their underlying exposures. Asset liability management for NBFCs had become complex and large, requiring strategic management with a greater use of derivatives. In the normal course of their business, NBFCs are exposed to credit and market risks due to asset-liability transformation as the Indian markets are now more integrated with global ones.

Indian Football Team Defender Mahesh Gawli Retired from International Football
Indian football team defender Mahesh Gawli announced his retirement from international football on 26 December 2011. He however announced his decision to continue to play at the club level for some more years. Gawli who made his international debut in the pre-Olympic qualifier against Thailand in 1999 represented India in 82 matches. He captained the Indian team in one match (against Malaysia) in November 2011. He had scored one goal against Bhutan in SAFF Cup in 2005.

He was part of the Indian teams which won SAFF Cup (2005), Nehru Cup (2007 and 2009), AFC Challenge Cup (2008) apart from the recent SAFF championship. The triumph in the AFC Challenge Cup (2008) topped of the list of his memorable moments. He played for several top clubs like FC Kochin (1998-99), Churchill Brothers (2000-02), East Bengal (2003), Mahindra United (2004) and Dempo (from 2005 onwards)

Infrastructure Sector recorded 6.8% Growth in November 2011 after touching 0.3% in October
The infrastructure sector recorded a growth of 6.8% in Novemberr 2011 after touching five-year low of 0.3% in October 2011. The growth in this sector was propelled by an impressive growth in cement, electricity and refinery products. The infrastructure sector have weightage of 38% in the overall Index of Industrial Production (IIP), considerably improved year-on-year as well from 3.7% in November 2010. Except for crude oil, natural gas and fertilisers, all other segments registered healthy growth in November 2011. The maximum growth was witnessed in cement which expanded by 16.6%, while there was a contraction of 4.3% in the same period in 2010-11. Electricity and steel output grew by 14.1% and 5.1% against 3.5% and 7.6%, respectively. Coal and petroleum refinery products growth went up by 4.9% and 11.2% in November 2011. Crude oil and natural gas output however contracted by 5.6% and 10.1% from a positive growth of 17% and 5.5%, year-on-year, respectively. Due to regressive performance in the previous months of 2011 prior to November, the April-November growth of core industries stood at 4.6 per cent as against 5.6 per cent in the same period in 2010.

2012 declared as National Mathematical Year as a Tribute to Mathematician Srinivasa Ramanujan

Prime Minister Manmohan Singh on 26 December 2011 declared the birthday of the great mathematician Srinivasa Ramanujan, 22 December as National Mathematics Day. Singh also declared 2012 as the National Mathematical Year as a tribute to the great mathematician Srinivasa Ramanujan. The Ramanujan Mathematical Society (RMS) will hold a series of activities in 2012 (National Mathematical Year) to mark the 125th birth anniversary of mathematician Srinivasa Ramanujan.

Prime Minister Manmohan Singh inaugurated the year-long celebrations at the Madras University Auditorium to mark the 125th birth anniversary of Ramanujan. The activities to be organised as a part of the year long celebration were planned to involve different sections, including school-goers, college students, students pursuing their research in mathematics and others interested in developments in the discipline. In the programmes involving school students, for instance, talks and activities would focus on helping them get rid of their fear of the subject. The biography of Ramanujan by Robert Kanigel in regional languages has been planned . A documentary, tracing the history of mathematics in India, would also be made. The year-long celebrations of Ramanujan birth anniversary would culminate in an international conference of mathematicians in New Delhi in December 2012. On the occasion, Manmohan Singh also expressed concern over a slide in the number of students pursuing higher studies in mathematics. He also expressed concern over the sharp decline in the number of quality mathematics teachers in schools and colleges. RMS president and chair of the organising committee M.S. Raghunathan declared on 26 December 2011 that a mathematics centre named after Ramanujan would be set up in Chennai. It would have a host of facilities, including a museum.

WGEEP designated Entire Western Ghats Ecologically Sensitive

The WGEEP (Western Ghats expert Panel) designated entire Western Ghats as an Ecologically Sensitive Area. The panel in its report classified the 142 taluks in the Western Ghats boundary into Ecologically Sensitive Zones (ESZ) 1, 2 and 3. The report further recommended that no new dams should be allowed in Ecologically Sensitive Zone 1. The report added that Both the Gundia of Karnataka and Athirappilly of Kerala hydel projects should be denied environmental clearance because these sites fall in Ecologically Sensitive Zone 1.

Delhi Cabinet approved the Delhi Cooperative Societies (Amendment) Bill, 2011

The Delhi state cabinet on 26 December 2011 approved the draft of the Delhi Cooperative Societies (Amendment) Bill, 2011. It also approved the draft of the Salary and Allowances of the Chief Whip in the Legislative Assembly (Amendment) Bill, 2011. It means that the Chief Whip of the Opposition Party of the Delhi Assembly will get facilities on par with the chief whip of the ruling party. Besides, it also gave its approval for construction of a new building for Deen Dayal Upadhyay College at Dwarka.

India and Russia signed Five Agreements and Issued a Joint Declaration
The Prime Minister of India visited Russia on 15-17 December 2011 to participate in the 12th Indo-Russian annual summit. India and Russia signed five major agreements during this summit, which includes licensed production of an additional 42 Sukhoi combat planes and to manage fly ash residue at thermal plants in Siberia. A MoU was signed on increasing cooperation and exchanges between anti-monopolies agencies and another MoU was signed to oversee the safety and quality issues by the drug standards and safety organisations to increase trade in the pharma sector. India and Russia also signed an educational exchange programme to share experiences in the field of pedagogy and to form a joint working group to monitor the agreement's implementation. During this visit, India and Russia also issued a joint declaration. The main features of this joint declaration are as following: India and Russia decided to commemorate the 65th anniversary of establishment of diplomatic relations between India and Russia in 2012 in both the countries in a fitting manner. The sides commended the successful launch, by India, of the jointly built YouthSat for space science studies; and expressed satisfaction on the progress in implementation of the joint lunar exploration project. The nations welcomed the outcome of the eleventh meeting of the India-Russia Inter Governmental Commission on MilitaryTechnical Cooperation in addressing issues of mutual concern. As an important element of their Strategic Partnership, both sides reaffirmed their commitment to work together to strengthen the central coordinating role of the United Nations in international affairs as well as the crucial role of its Security Council in the maintenance of international peace and security. The sides expressed concern over negative trends in the global economy. The nations identified successful completion of the IMF reform under the terms and conditions agreed in the framework of the G-20 as a key element of the general reform of the international financial architecture. In the context of the situation in the Middle East and North Africa, the sides reaffirmed their commitment to the principles of: searching the way to overcome crises in the region in compliance with law, exclusively through peaceful means, avoiding violence and outside intervention, through broad, inclusive national dialogue on democratic reforms, taking into account the legitimate rights and aspirations of the peoples of the region. The sides agreed that the Shanghai Cooperation Organization (SCO) had become an important factor for regional security and cooperation. The sides attached importance to strengthening cooperation among BRICS countries. India and the Russian Federation, as responsible states, possessing advanced nuclear technologies, share the objective of preventive proliferation of weapons of mass destruction and their means of delivery, including preventing their possible acquisition by terrorist groups. The sides recalled the bilateral Moscow Declaration between India and the Russian Federation on International Terrorism signed on November 6, 2001 in Moscow.

 Both sides reaffirmed the need for all states to combine efforts to vanquish terrorism. The sides emphasized the importance of joint bilateral and multilateral efforts in the fight against illicit drug trafficking which poses a growing threat to international peace and stability. India and the Russian Federation expressed concern over the situation emerging around Irans nuclear programme. Both sides support a comprehensive and long-term settlement of the situation through exclusively political and diplomatic means by promoting dialogue.

The Memory Gene Npas4 was found by the Neuroscientists

A team of neuroscientists found a gene that turns on when memories are stored in the brain. This discovery could help trace the exact locations of memories in the brain. It could help in creating and altering memory. The gene is called Npas4 , which is very active in the hippocampus. The animal is known to have a brain structure critical in forming long-term memories.During mice studies Scientists found that by taking out Npas4 from test subjects, neuroscientists were able to prevent new memories from forming.

Kerala won Men's & Womens Title in the 10th All-India Volleyball Tournament for Vajpayee Cup
Kerala defeated Andhra Pradesh in straight sets to lift the men's title in the 10th All-India Invitational volleyball tournament for the Vajpayee Cup on 25 December 2011. Kerala won the game 25-20, 25-18, 25-18. Karnataka outdid Tamil Nadu to occupy the third position in the mens category. The Kerala on the other hand defeated Central Railway (Mumbai) and to claim the titlee. Tiji Raju and N. Bijina led the turnaround as it won 20-25, 18-25, 25-23, 26-24, 15-13. The women had to come back from two sets down to tak the title. The Kerala women lost the first set 20-25 before finding themselves in deep trouble after losing the second set 18-25. In the deciding set Kerala outdid Central Railway 15-13 to clinch the title. Southern Railway (Chennai) finished third in the women's sections.

Tea Imports declined by 14 per cent to 9.91 million kg in the AprilOctober Period of 2011
According to the Tea Board data released in December 2011, tea imports declined by 14 per cent to 9.91 million kg in the AprilOctober period of 2011. Imports of the brew fell by 15% to 14.15 million kg from 16.57 million kg in January-October 2010. The country had imported 11.55 million kg of tea in same period in 2010. India, the world's largest consumer of tea imports tea leaves solely for re-export to other countries. The dip in imports therefore signals lower re-exports. The inbound shipments of tea from most countries, except Argentina, Iran and the UK, registered a decline in the first seven months of the 2011-12 financial year. India imports tea largely from Kenya, Malawi, Nepal, Argentina, Iran, Sri Lanka, China and Indonesia, among other countries.

India is the second-biggest producer of tea in the world and accounts for about 28% of global output and 14% of trade. There are around 1600 tea estates in India and the industry employs more than two million people.

Finance Ministry directed State-run Banks to do away with Separate Promotion Policies
The finance ministry in December 2011 directed state-run banks to do away with their separate promotion policies. The ministry's move was strongly opposed by the officer's union. The fresh guidelines from the Finance Ministry aim at removing the anomalies across public sector banks and addressing severe manpower shortage by creating a common pool of managers. The initiative is likely to mark an end of fasttrack and super fasttrack promotions at managerial levels in some public sector banks, including the country's largest lender, State Bank of India. The new guidelines will allow lateral movement across banks without any remuneration issues. The guidelines will also ensure that there are eligible candidates across all verticals in all 21 state-run banks. The presence of such eligible candidates is expected to be of big advantage when it comes to succession planning. The 2.5 lakh strong All India Bank Officers' Confederation however opposed the guidelines. According to the Union, the government ought to realise the situation is different in each bank and therefore policies cannot be forced. As per the guidelines, an employee will have to work in all verticals of a bank before being promoted to the middle management level. Specialists recruited in banks will however have to spend at least five years in their area before being moved to other functions. Also, in a case where a relaxation has been provided on the basis of merit, the same officer will not be eligible again. The guidelines run contrary to the recommendations of a panel, set up to look into human resource issues at state-run banks. The panel had recommended that the banks should develop mechanisms for identifying star performers and track their performance for fast-track growth. Headed by former Bank of Baroda chairman AK Khandelwal, the panel had suggested that such a move will act as a motivational and retention tool, besides creating a leadership pipeline. Highlights

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An employee will have to work in all verticals before being promoted to the middle management level The new policy spells the end of fast-track promotions at managerial levels The guidelines will ensure that there are eligible candidates across all verticals in all 21 state-run bank

The Information Technology (IT) Sector created most Jobs in the Five Years (2006-2011)Period
The information technology (IT) sector led by the top three listed companies, TCS, Infosys and Wipro, created the most jobs in the five years ending 2011 compared with other sectors. Increased employment in the sector was boosted by an over two-fold jump in aggregate revenue.

The data is based on the hiring trend of a sample of 600 listed companies that reported annual financials along with headcount information since 2006. The findings provide a reflection of the changing trend in Indias GDP composition. There was a marked shift from the agrarian phase to the services phase. The data revealed that the proportion of services sector jobs in the total headcount of the sample rose to 46.5% in 2011 from 41.8% in 2006. The sample companies also expanded the aggregate headcount by 48% to 43.8 lakh employees between 2006 and 2011. IT sector The analysis by Economic Times (ET) Intelligence Group of the trend in job creation by the organised sector reflected the rising clout of services companies. Of the 14.3 lakh jobs created between Financial 2006 and 2011, over 8 lakh (56%) were added by companies in the services sectors, which includes banking and finance, healthcare, hospitality, technology, telecom, trading and retail. These companies created four out of seven jobs in the country over the past five years thereby outpacing the manufacturing sector. IT sector players led the service sector, adding as many as 4.5 lakh employees. TCS, Infosys and Wipro together added 2.4 lakh people, or more than half the total additions for the sector. Manufacturing sector The manufacturing sector however took a back seat. Manufacturing jobs increase by 35% to 23.3 lakh during the period. The increase was at a much slower pace compared to the 66% growth in services sector employment. The increasingly capitalintensive nature of Indias manufacturing businesses was understood to be major reason for lower job creation in the sector. the rising trend of shifting production and employees off the balance sheet through sub-contracting and temporary workers also reduced the payroll of manufacturing players. The falling share of manufacturing sector in new jobs creation is also worrisome since it would resulot in the curtaiing of low-skill employment.

Honey Baisoya became the Youngest Winner of Goodricke East India Amateur Golf Championship
Delhi's Honey Baisoya became the youngest winner of the 22nd Goodricke East India amateur golf championship at RCGC on 25 December 2011. The 15-year-old defeated the country's No.1 amateur, S. Chikkarangappa to win 3 and 2. Both had to play two rounds of 36 holes on the final day.

Baisoya secured a winning start after making birdies on first, fourth, fifth, ninth, 12th and 15th in the first round of 18 holes where both Baisoya and Chikka halved 11 holes. Though, Chikka won on seventh, 11th and 14th, Baisoya was 2-up after the first round. In the second round, Baisoya again took an early lead after making a birdie on the first to go 3-up though Chikka kept giving a tough competition. Baisoya in total had six birdies in the first round of 18 and three more in 16 holes in the second round while Chikka had three birdies in both rounds. Baisoya also dropped fewer bogeys.

Planning Commission approved investment for Karnataka Flood Protection Project

The Planning Commission of India approved Investment clearance for the scheme Flood Protection works for River Banks of Ghatprabha River at Gokak Town of Belgaum District of Karnataka.The project envisages strengthening of the right bank of the river Ghatprabha at Gokak town to enable it to carry the full capacity discharge of 7361 cumec for 100 year return period to avoid damages to right flood bank, residential and commercial houses, town, roads etc. The scheme is likely to benefit an area of 146 ha of residential and commercial land and population of about 1400. Estimated to cost 34.07 crore rupees, the project shall be completed by the financial year 2012-13 and Plan accounts would be closed by 31st March 2013. The State Finance Department would restrict the expenditure to the approved cost and no additional expenditure beyond approved cost will be permitted unless the revised estimate is got approved following the prescribed procedure. The proposal envisages construction of earthen embankment and couterfort retaining walls along with sopana (Steps) for river Ghatprabha on right bank near Gokak town for a length of 1685 m and 1165 m (including 20 m length of steps) respectively.

Indonesias Taufik Hidayat defeated Sourabh Verma to win the $120000 India Open Grand Prix
Indonesias experienced shuttler, Taufik Hidayat, won his first Mens Singles title of 2011 at the 2011 $120,000 Syed Modi India Open Grand Prix Gold badminton championship when he defeated Sourabh Verma of India. Taufik is currently World Number 12 in Mens Singles world rankings. Hidayat who ended his title drought of 2011 with a 2115, 21-18 triumph over Saurabh received $9,000 as the prize money. In the first set of this final battle, Taufik played with precision and won it with a comfortable score. in the second game, Sourabh elevated his level of play and matched the speed of Taufik but lost the set with a decent margin. Ranked 72 in the world and on his debut season on the senior international circuit, Sourabh had won the Bahrain International Challenge in 2011 and had also reached the quarterfinals of TATA Open India International Challenge, Thailand Grand Prix Gold and Indian Super series. The women's singles final was won bythird seed Inthanon Ratchanok of Thailand. Naoki Kawamae & Shoji Sato (Jpn) emerged winners in Men's doubles while in women's doubles, Shinta Mulia Sari & Lei Yao of Singapore defeated Miyuki Maeda & Satako Suetsuna of Japan to emerge champions

Scientists discovered a Way to Transform Ordinary Tissue into Heart Muscle Cells
Scientists discovered a way to transform ordinary tissue into beating heart muscle cells. It could pave the way for new therapeutic approaches for making a damaged heart to repair itself. Scientists used a zebrafish system to develop a small and robust molecule, which can transform stem cells into beating heart muscle cells. The scientists in their experiment found that cardionogen treatment enlarged the zebrafish heart by stimulating production of new cardiac muscle cells from stem cells. The scientists discovered three structurally related molecules (Cardiongen-1, 2 and3) after screening 4000 compounds. It could promote or inhibit heart formation depending on when they were administered during development.

Theatre Director Satyadev Dubey, credited with Introducing Existential & Absurd Theatre died
Theatre director, screenplay writer and actor Satyadev Dubey, credited with introducing existential and absurd theatre, passed away on 25 December 2011. Dubey was a maverick who went on to become a theatre guru. Born in Bilaspur, Chhattisgarh, in 1936, Dubey's first ambition was to become a cricketer. However after coming to Mumbai, he gave up the idea of becoming a cricketer. He gave up that ambition as he got attracted to the post-1947 theatre that was emerging in the city. He joined Theatre Unit, the theatre group-cum-school founded by Ebrahim Alkazi. Although he came from the Hindi heartland, he was equally at ease on Marathi and Gujarati stage. Dubey came into prominence with Dharamvir Bharatis radio-play Andha Yug that brought to the fore the pervasive criminal and homicidal tendencies during the times of war. By early 70s, Dubey shifted to Marathi playwrights. He also directed a documentary and a feature film in Marathi language. Dubeys significantly contributed to Mumbai theatre by introducing Theatre of the Absurd inspired by playwrights like Sartre, Beckett, Durrenmatt and Ionesco. He penned down the screenplay for Shyam Benegals film Bhumika as well. He penned screenplays/dialogue of some acclaimed films in the 1970s, including Shyam Benegal's Nishant, Ankur, Kalyug and Bhumika, and also acquired a distinct identity as theatre director-teacher. In his career spanning four decades, he directed or produced plays of the prominent playwrights who shaped the modern Indian theatre: Girish Karnad (Yayati, Hayavadana), Badal Sarkar (Evam Indrajit, Pagla Ghoda), Mohan Rakesh (Aadhe Adhure), Vijay Tendulkar (Gidhade, Shantata! Court Chalu Aahe), Chandrashekhara Kambara (Aur Tota Bola). He is also credited with discovery of Dharam Vir Bharti's play 'Andha Yug', which he recommended to Alkazi. Awards

He won the Filmfare Award for Best Dialogue in 1980 for the film Junoon. He also won the Silver Lotus Award in 1978 for Best Screenplay for the fim Bhimika. He shared this award with Shyam Benegal and Girish Karnad

India's Foreign Exchange Reserves fell by $4.67 billion for Week ended 16 December 2011
According to the RBI data, India's foreign exchange reserves fell by a steep $4.67 billion to $302.1 billion during the week ended 16 December 2011 on account of a fall in foreign currency assets. The dip marked the lowest in nine months. The forex reserves registered a fall for the sixth of the last seven weeks. The reserves declined by over $18 billion in the last seven weeks and are currently at their lowest level since March 2011. Foreign currency assets, the biggest component of the forex reserves, fell by $4.66 billion to $266.96 billion for the week ended 16 December according to the weekly statistical supplement of the Reserve Bank of India (RBI). The assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve. The value of special drawing rights (SDRs) fell by $54 million to $4.44 billion, while the value of gold reserves remained unchanged at $28.04 billion. However, India's reserves with the International Monetary Fund (IMF) rose by $47 million to $2.65 billion.

Delhi Court set Deadline for Social Networking Sites to remove Antireligious or Anti-social Content
A Delhi court set 6 February as a deadline for 22 social networking sites including the Facebook, the Google, the Yahoo and the Microsoft to remove all anti-religious or anti-social content.The court directed the social networking sites to file compliance reports by 6 February 2012. Additional Civil Judge Mukesh Kumar had on 20 December in a ex-parte order issued summons to the social networking websites, granted around one and half month for compliance of his order. The court after going through the several printouts of the objectionable contents, CD and other documents had found them defamatory and derogatory and ordered to take them off from the sites. The social networking sites were issued summons by the court, on grounds of carrying objectionable content. The companies were charged with section 292 (sale of obscene books etc), 293 (sale of obscene objects to young person etc) and 120-B (criminal conspiracy) of the IPC. The court's order came amid a raging controversy over monitoring the content on Internet and of those websites depending on user generated contents. The issue surfaced after Union Telecommunications Minister Kapil Sibal asked the social networking websites to screen contents.

Social networking sites in India have been going through a rough phase, after the government began showing dislike for the content portrayed. as per the court's directive, in case the social networking sites fail to clear derogatory content off their websites by 6 February 2012 they would be charged for contempt of court.

Veteran Politician and Former Chief Minister of Karnataka S.Bangarappa passed away
Veteran politician and former Chief Minister of Karnataka S.Bangarappa who was the Chief Minister of Karnataka from 1990-92 died on 26 December 2011. He was born on 26 October 1932 in Kubatur village of Shimoga District, he was a highly respected leader among backward classes. He represented Shimoga constituency in the 14th Lok Sabha. S Bangarappa changed parties and constructed parties but finally landed in Janata Dal S Party. Bangarappa, who had tested his political fortunes in the Bharatiya Janata Party (BJP) after a long stint in Congress, had recently joined the H D Devegowda-led Janata Dal (Secular). The three time Lok Sabha member represented Shimoga constituency and has been a legislator several times. In his political career spanning over 50 years, Bangarappa had founded Karnataka Vikas Party and Karnataka Congress Party, both of which did not do very well. Bangarappa had played a crucial role in installing the first ever non-Congress government in Karnataka in 1983 when his outfit Karnataka Kranti Ranga supported the then Janata Party government headed by late Ramakrishna Hegde. He was the Chief Minister between 1990-92 and after he was removed from the post, he floated Karnataka Congress Party which contested the 1994 assembly elections and won 10 seats. He was on the national political stage as a Lok Sabha member for three terms in 1996, 1999 and 2003. He was also associated with the Samajwadi Party. His worst times in political arena came in 2009, when Bangarappa was defeated by B Y Raghavendra, son of former Chief Minister B S Yeddyurappa in Shimoga parliamentary seat and also in the assembly election held in 2008 at the hands of Yeddyurappa in Shikaripura constituency. S Bangarappa was a keen enthusiast in culture of the state. Bangarappa was in to stage plays, singing and was part of one or two films in Kannada. S Bangarappa was instrumental in holding the first Indian international film festival in Bengaluru in 1993.

Following RBIs Deregulation 5 Indian Banks raised Interest Rates on NRE Deposits
Reserve Bank of India deregulated non-resident external (NRE) deposits on 16 December 2011 allowing banks to offer higher interest rates to dollar-denominated accounts. Reserve Bank freed the rates on non-resident external accounts, offering interest as high as 9.6% per annum. Following RBIs deregulation five Indian banks, including HDFC Bank and Yes Bank on 23 December 2011 raised their interest rates on such deposits in order to lure foreign money.

The Reserve Bank of India's move to deregulate interest rates on non-resident external (NRE) rupee deposits and ordinary nonresident accounts encouraged banks to attract dollars. Private lender Yes Bank increased the interest rates on fixed deposits held by non-resident Indians (NRIs) to 9.6 per cent from 3.82 per cent. The new rate is being offered on term deposits of 15 months 15 days to 16 months. The bank also raised savings bank rate by 200 basis points to 6 per cent. Lakshmi Vilas Bank revised the rate of interest for NRE term deposits with effect from December 22. Deposits under the maturity slab of one year to below two years will in fact attract 10 per cent from 3.82 per cent previously. Deposits of 2 years to below three years will fetch 8 per cent against 3.51 per cent and three years and above 7 per cent against 3.64 per cent. IndusInd Bank increased the interest rates on NRE deposits to 9.25 per cent from 3.82 per cent. Similar steps were also taken by banks like Federal Bank, HDFC Bank, State Bank of Travancore (SBT). The new rates are effective from 24 December for fresh deposits as well as those being renewed on maturity.

Malappuram (Kerala) Off-campus of the Aligarh Muslim University (AMU) dedicated to the Nation
Union Minister for Human Resource Development Kapil Sibal dedicated the Malappuram (Kerala) off-campus of the Aligarh Muslim University (AMU) to the nation at a function held in Perinthalmanna on 24 December 2011. The Aligarh Muslim University special centre in Malappuram is one of the five such centres being set up in the country. Sibal also laid the foundation stone for the new campus of the centre. Union Minister of State for HRD E Ahamed laid the stone for the administrative building of the centre. The new campus will house five hostels for men and three women hostels. The construction also includes an administrative block, two academic blocks and 20-odd staff quarters. The Union government sanctioned Rs 200cr for the AMU campus which is expected to be ready in five years. It will have facilities from pre-school to a full-fledged medical college. The state government will spend Rs 100cr on the development of the campus.

The UN and Iraq signed an Agreement to relocate Iranian Exiles

The United Nations (UN) and the Iraqi Government on 24 December 2011 signed an agreement to relocate Iranian exiles living in a camp in northeastern part of Iraq. The Iraqi government has been insisting on closing the camp by the end of this month. Under the agreement, UN High Commission for Refugees will monitor the relocation while Iraqi Government will be responsible for their security. UNHCR would decide the refugee status for the residents of Ashraf here. This will be the first step toward resettlement to the third countries other than the native or the host countries. Camp Ashraf was the base of dissident Iranians led by the People's Mujahedeen Organization of Iran. The group moved to Camp Ashraf during the regime of Saddam Hussein and sided with Iraq in the war against Iran in the 1980s. The camp, now home to over 3400 dissident Iranians will be shifted to Camp Liberty, a former U.S. military base near the Baghdad International Airport.

Mumbai Skipper Wasim Jaffer overtook Amol Muzumdar as Highest Run-getter in Ranji Trophy
Mumbai skipper Wasim Jaffer on 22 December 2011 overtook former teammate Amol Muzumdar (8237 runs) as the highest rungetter in Ranji Trophy. He scored a total of 8242 runs a against Muzumdars 8237 runs. Jaffer had his debut season in 1996. The Mumbai captain accomplished the record in 100 matches which is quicker compared to former skipper Muzumdar. In 201 first class matches, Jaffer scored 15125 runs with the help of 44 centuries and 73 fifties at an average of 50.76. His highest first-class score is unbeaten 314 against Saurashtra at Rajkot in November, 1996. He scored 1944 runs with five hundreds and 11 fifties at a rate of 34.10 in 31 Tests. He played in only two ODIs. He had made a triple-century in only his second innings which shot him to fame. He subsequently led Mumbai to their 38th and 39th Ranji titles. He also led West Zone to their 16th Duleep Trophy success in early 2010. Jaffer (8271) overtook Muzumdar, who had overtaken Amarjeet Kaypee (7553) in 2009 ago while playing for Assam, and reached the milestone during the course of his 187-minute stay at the crease at the Wankhede stadium in his 100th match. Pankaj Dharmani of Punjab is third with 7621 runs, ahead of Kaypee on tlist of highest Ranji run getters.

Lokpal and Lokayuktas Bill, 2011 Introduced in Lok Sabha by the Government
The Lokpal and Lokayuktas Bill was introduced in Lok Sabha on 22 December 2011. The bill was aimed at setting up the body of Lokpal at the Centre and Lokayuktas at the level of the States. Government also introduced a Bill for amending the Constitution for conferment of Constitutional status on both bodies. Government also withdrew earlier Lokpal Bill, 2011 and decided to introduce a new comprehensive Lokpal and Lokayuktas Bill, 2011 Bill after consideration of the suggestions made by the Parliamentary Committee, which recommended significant changes in the scope and content of the earlier Bill. The salient features of the proposed new Bills are as under: Establishment of new institution in the Constitution called Lokpal for the Union and Lokayukta for the States. These autonomous and independent bodies, shall have powers of superintendence and direction for holding a preliminary inquiry, causing an investigation to be made and prosecution of offences in respect of complaints under any law for the prevention of corruption. The Bill provides a uniform vigilance and anti corruption road map for the nation, both at Centre and States. The Bill institutionalizes separation of investigation from prosecution and thereby removing conflict of interest as well as increasing the scope for professionalism and specialisation. Structure of the Lokpal:

 Lokpal will consist of a Chairperson and a maximum of eight Members of which fifty percent shall be judicial Members. Fifty per cent of members of Lokpal shall be from amongst SC, ST, OBCs, Minorities and Women. There shall be an Inquiry Wing of the Lokpal for conducting the preliminary inquiry and an independent Prosecution Wing. Officers of the Lokpal to include the Secretary, Director of Prosecution, Director of Inquiry and other officers. Process of selection: The selection of Chairperson and Members of Lokpal shall be through a Selection Committee consisting of Prime Minister; Speaker of Lok Sabha; Leader of Opposition in the Lok Sabha; Chief Justice of India or a sitting Supreme Court Judge nominated by CJI; Eminent jurist to be nominated by the President of India A Search Committee to assist Selection Committee in the process of selection. Fifty per cent of members of Search Committee shall be from amongst SC, ST, OBCs, Minorities and Women. Jurisdiction of Lokpal: Prime Minister to be brought under the purview of the Lokpal with subject matter exclusions and specific process for handling complaints against the Prime Minister. Lokpal cannot hold any inquiry against the Prime Minister if allegations relate to: International relations; External and internal security of the country; Public Order; Atomic energy Space. Any decision of Lokpal to initiate preliminary inquiry or investigation against the Prime Minister shall be taken only by the Full Bench with a majority of 3/4th. Such proceedings shall be held in camera. Lokpals jurisdiction to include all categories of public servants including Group A, B, C & D officers and employees of Government. On complaints referred to CVC by Lokpal, CVC will send its report of PE in respect of Group A and B officers back to Lokpal for further decision. With respect to Group C and D employees, CVC will proceed further in exercise of its own powers under the CVC Act subject to reporting and review by Lokpal. All entities receiving donations from foreign source in the context of the Foreign Contribution Regulation Act (FCRA) in excess of Rs. 10 lakhs per year are brought under the jurisdiction of Lokpal. Lokpal will not be able to initiate inquiry suo moto. Other Important Features of the Lokpal Bill No prior sanction shall be required for launching prosecution in cases enquired by Lokpal or initiated on the direction and with the approval of Lokpal. A high powered Committee chaired by the Prime Minister with leader of the opposition in the Lok Sabha and Chief Justice of India as members, will recommend selection of the Director, CBI. Provisions for confiscation of property acquired by corrupt means, even while prosecution is pending. Lokpal to be final appellate authority on all decisions by public authorities relating to provision of public services and redressal of grievances containing findings of corruption. Lokpal to have power of superintendence and direction over any investigation agency including CBI for cases referred to them. The Lokpal Bill lays down clear time lines for: Preliminary enquiry- three months extendable by three months.

Investigation six months extendable by six months. Trial one year extendable by one year. The Bill proposes to enhance punishment under Prevention of Corruption Act : Maximum punishment from 7 years to 10 years Minimum punishment from 6 months to 2 years The Bill proposes to give legal backing to Asset Declaration by public servants. The Bill also seeks to make necessary consequential amendments in the Commissions of Inquiry Act, 1952, the Prevention of Corruption Act, 1988, the Code of Criminal Procedure, 1973, the Central Vigilance Commission Act, 2003, and the Delhi Special Police Establishment Act, 1946.

Food Inflation dropped to 1.81% during the Week ended 10 December indicating Easing of Prices
According to official data released here on 22 December 2011, food inflation dropped sharply to an almost four-year low of 1.81 per cent during the week ended 10 December indicating an overall easing of prices. It stood at 4.35 per cent in the week ended 3 December. The fall was attributed to decline in prices of essential commodities such as onion and potato. The food inflation figure for the week ended 10 December are the lowest since the week ended 9 February 2008, when it stood at 2.26 per cent. The sharp moderation in food inflation was largely because of a 26.4% drop in vegetable prices, notably staple items such as onions, potatoes and tomatoes. Onion became cheaper by 49.38 per cent year-on-year during the week under review, while potato prices were down by 34.39 per cent. Prices of wheat also fell by 4.21 per cent. Overall, vegetables became cheaper by 26.37 percent. Milk was dearer by 11.19 per cent and eggs, meat and fish by 9.25 per cent. Pulses became costlier by 14.22 per cent. While inflation in vegetables and wheat segments eased during the reporting week, prices of protein-rich items such as eggs, milk and pulses have continued to remain high. Experts opined that moderation in food inflation numbers, which was in double-digit in early November, was on account of good kharif harvest as well as a high base. Inflation in the overall primary articles category stood at 3.78 per cent during the week ended 10 December as against 5.48 per cent in the previous week. Fuel inflation stood unchanged at 15.24% for the week to 10 December while inflation in non-food manufactured items, a keenly watched indicator of demand, rose to 7.9% in November from 7.6% in October 2011.

Jacob E. Goldman, who Founded Xerox PARC that developed Computing Innovations died

jacob E. Goldman, a founder of the Palo Alto Research Center (PARC) that developed breakthrough computing innovations died on 20 December 2011. The Palo Alto Research Center developed computing innovations such as the graphical user interface and ethernet networks. Physicist Jacob E. Goldman, as Xerox's chief scientist founded the company's vaunted Palo Alto Research Center, which invented the modern personal computer. In 1970s, the laboratory created a string of innovations from laser printing to objectoriented programming to the world's first WYSIWYG (What-You-See-Is-What-You-Get) editor. In 1975, PARC unveiled the graphical user interface with pop-up menus and windows and point-and-click controls. The GUI represented crucial ground work later built upon by companies such as Microsoft and Apple and eventually launched personal computing in the 1980s.

Goldman played an important role both at the Ford Motor Co., during the 1950s, and later at Xerox in the 1960s and 1970s, in financing basic scientific research in an effort to spark corporate innovation. He became a private investor after retirement, according to the book Dealers of Lightning: Xerox PARC and the Dawn of the Computer Age by Michael Hiltzik.

First Pan-India Satellite Survey pegged the Sugar Cane Area for 2011-12 Crop Year at 51.82 lh
The first pan-India satellite survey jointly commissioned by Indian Sugar Mills Association (ISMA) and the National Federation of Co-operative Sugar Factories Ltd (NFCSF) pegged the cane area for 2011-12 crop year starting October at 51.82 lakh hectares (lh). For the first time the survey was carried out State-wise and district-wise for the area under sugarcane, through satellite mapping on such a large-scale. Satellite images of the cane area procured from the National Remote Sensing Agency, Hyderabad, were analysed using the Geographical Information Systems software by South India-based firm. A satellite mapping of sugarcane acreage carried out for the first time across India showed an increase of 3% over the government estimate. The data showed acreage to be the same in Uttar Pradesh and higher by 3% in Maharashtra as compared to the figures projected by the ministry of agriculture for the two states. The satellite-based survey was jointly carried out by Indian Sugar Mills Association and National Federation of Cooperative Sugar Factories to reduce the deficiencies involved in the manual estimation of acreage. The Union government had provisioned satellite crop surveys under its Fasal (forecasting of agriculture outputs through satellite, agrometeorology and land-based observations) programme. According to the satellite data, acreage for 2011-12 has been estimated at 51.82 lakh hectare. The figure is higher than the estimates made manually by the sugar industry at 50.79 lakh hectare, by the ministry of agriculture at 50.93 lakh hectare and the ministry of food and public distribution at 50.25 lakh hectare. The area estimated for the 2011-12 season through satellite mapping is 2.38 lakh hectare higher than the actual area of 49.44 lakh hectare in the previous crop year marking an increase of 4.8%.

India joined the ranks of major sugar producers such as Brazil and Thailand in leveraging remote sensing technology to estimate the cane area.

Rajya Sabha approved the Bill to add more Scheduled Tribes to List
Rajya Sabha of Indian Parliament on 22 December 2011 passed the bill the Constitution (Scheduled Tribes) Order (Amendment) Bill, 2011 to amend the list of Scheduled Tribes and add more tribes from North-Eastern India. The bill includes six more tribes namely Thangal, Zeme, Mate, Inpui, Liangmai, Rongmei from Manipur and substitutes Galo in place of Galong in the list of Scheduled tribes in Arunachal Pradesh. At present, 26 communities exist in the list of Scheduled Tribes in Arunachal Pradesh, which includes Galong as well. The Lok Sabha had passed the Bill on 19 December 2011.

Apple Co-founder Steve Jobs to be posthumously honoured with a Grammy Award

The Academy of Recording Arts and Sciences on 21 December 2011 chose Apple co-founder Steve Jobs to be posthumously honoured with a Grammy award for his contribution to music technology. Jobs is to be honoured as a creative visionary. He is one of 11 people who will be honoured with special awards. Jobs, who died on 5 October 2011 of pancreatic cancer, will receive a Trustees Award on 13 February 2012 for helping create products that transformed the way music, TV, movies and books are consumed. Apple Computer Inc first received a Technical Grammy Award in 2002 for contributions of outstanding technical significance to the recording field. Bandleader and composer Dave Bartholomew, recording engineer Rudy Van Gelder will also receive the award along with Jobs. The academy also picked the Allman Brothers, Glen Campbell, Diana Ross and Brazilian pianist/singer/guitarist Antonio Carlos Jobim as recipients of Lifetime Achievement Awards. Jobim was known for composing The Girl from Ipanema, a worldwide hit in the mid-1960s which won a Grammy for Record of the Year in 1965. Trumpeter Wayne Jackson, saxophonist Andrew Love of the Memphis Horns, country legend George Jones, and the late Gil Scott-Heron were also named as recipients. German sound-technology firm Celemony and the late audio engineer Roger Nichols, who worked with artists including Ross, Placido Domingo, James Taylor and Stevie Wonder, were also recognised with Grammy Technical Awards. The Trustees Awards are given to people who make a contribution to music beyond performance. The Academy of Recording Arts and Sciences also chose seven performers to receive Lifetime Achievement Awards: The Allman Brothers Band, Glen Campbell, Antonio Carlos Jobim, George Jones, The Memphis Horns, Diana Ross, Gil Scott-Heron.

Mobile Phone Operators asked to Scrap Illegal Mutual Roaming Agreements

India's telecom ministry on 22 December 2011 informed mobile phone operators that they must scrap illegal mutual roaming agreements that allow them to provide seamless nationwide 3G services. As per the ministry, the pacts that let the operators offer 3G services outside their licensed zones are in violation of terms and conditions of their licences. The government complained that telecom operators wereusing the 3G roaming deals to offer services in areas where they have not paid for the spectrum. Leading mobile operators such as Bharti Airtel, Vodafone and Idea Cellular had struck deals with each other to offer ultra-fast 3G services in areas where they did not acquire spectrum in a costly bandwidth auction in 2010. The firms entered into the deals because none could afford nationwide 3G spectrum in the high-priced sale. Bharti has 3G bandwidth in 13 of India's 22 telecom zones while Idea has access in 11 areas and Vodafone's India unit in nine. The announcement by the ministry dealt a a blow to the companies, which had hoped to recover their 3G auction payments by providing high-premium 3G data services across the country in India's fiercely competitive telecom market. Earlier operators had noted that in case they could not offer nationwide roaming, the government should refund the sums paid for 3G spectrum or restage the auction as it would alter the basis on which 3G bids were made. Third-generation services, or 3G, allow mobile phone users to surf the Internet, video conference and download music, video and other content at a much faster pace than the current second-generation service offered in India. The government had reaped $15 billion from auctioning the 3G licences in 2010. Bharti and Idea paid 123 billion rupees ($2.3 billion) for licences while Vodafone paid 116 billion rupees. Indian telecom companies which currently generate only small revenues from data services expect the market to grow exponentially as less than 10 percent of the 1.2 billion population has access to Internet at the moment. India has some 881.4 million mobile and 33.2 million fixed-line subscribers with total teledensity at 76, up from 2.5 in 2000.

Former Indian Test Cricketer Vasant Ranjane passed away in Pune

Former Indian Test (medium-pace) cricketer Vasant Ranjane passed away in Pune on 22 December 2011. Born in Pune on 22 July 1937, Ranjane grabbed 19 wickets in Tests at 34.15 per innings and 175 wickets from 64 first class ties. Ranjane thus made a successful first-class debut in 1956-57, when he took 9 for 35 and 4 for 36 for Maharashtra against Saurashtra. Ranjane played seven Tests for India between 1958 and 1964 and represented Maharashtra and Railways in first-class cricket from 1956 to 1971. He made his Test debut against West Indies in 1958-59. Next he was chosen for his second game in1961-62, when England toured India. He played two more Tests in that series and was taken on the 1962 tour of West Indies, where he played one game, the final Test at Kingston. He played two more Tests, against England in Madras in 1963-64 and against Australia at the same venue a year later and finished with 19 Test wickets at an average of 34. Ranjane worked for Indian Railways as a fitter and retired in 1994.

The Union Cabinet of India approved 4.5 Percent Quota for Minorities
The Union cabinet of India on 22 December 2011 approved 4.5 percent share for minorities within the 27% OBC quota in jobs and university seats. The approval will come in force from 1 January, 2012. It suggests that minorities can get 4.5 jobs out of every 100 government jobs and university seats. As per the data released by the National Commission for Religious and Linguistic Minorities, the OBC population was 52 percent of Indias population, of which minorities constitute 8.4 percent. Justice Rajinder Sachar Committee Report-released in November 2006- had found the minority community under-represented in all spheres of professional and public life.

The Manipur Legislative Assembly passed the Manipur Lokayukta Bill, 2011
The Manipur Legislative Assembly on 22 December 2011 unanimously passed the Manipur Lokayukta Bill, 2011. The Bill seeks to establish the institution of Lokayukta in the state to inquire into the allegations of corruption against certain public functionaries. With the passage of the Bill, Manipur will be the third state in North-Eastern India after Assam and Tripura, to have a legislation of Lok Ayukta.

CSTO agreed to Tighten Rules for Opening Extra-regional Military Bases in its Territory
The leaders of the CSTO (Collective Security Treaty Organisation) nations on 21 December 2011 agreed that the deployment of foreign bases in their territory would be done with the approval of all partners of the defence alliance. The CSTO summit was held in Moscow. Besides Belarus and Kazakhstan, CSTO includes Armenia, Russia, Tajikistan, Kyrgyzstan and Uzbekistan. Kazakhstan succeeded Belarus as the President of CSTO. However, the CSTO agreement does not apply to existing facilities such as a German air transit facility in Uzbekistan, French military aircraft in Tajikistan and US transit centre in Kyrgyzstan.

Jamil Ahmad presented the Shakti Bhatt First Book Prize for His Book The Wandering Falcon

Jamil Ahmad was declared the winner of the Shakti Bhatt First Book Prize for his book The Wandering Falcon at the British Council in New Delhi on 21 December 2011. The Wandering Falcon, is a narrative about the lives of tribal people along the borders of Afghanistan, Pakistan and Iran. The book contained personal sights, sounds, actual faces and conversations. The book that has won critical acclaim worldwide was written decades ago and then went into hibernation for 40 years. He started writing the book in 1971, it was completed by 1973 and then it hibernated for 40 years. Born in Jalandhar in 1933, Jamil Ahmad is a Pakistani national. He had not agreed to the demands of the publishers, which eventually led to the book being locked away for four decades. The book was published by Hamish Hamilton an imprint of Penguin earlier in 2011. Ahmad was posted in Quetta in 1959 where he first came into contact with tribals and was fascinated by their lives and their stories. The former civil servant from Pakistan, Ahmad gave away the prize money of Rs. 1 lakh to St. Columba's School, where he was enrolled from 1941 to 1944. The prize is set up in memory of writer and editor Shakti Bhatt. A shortlist of six books was announced ahead of the prize ceremony. The shortlist included The Collaborator by Mirza Waheed, The Truth About Me by A. Revathi, Chinaman by Shehan Karunatilaka, A Free Man by Aman Sethi and R.D. Burman: The Man, The Music by Anirudha Bhattacharjee and Balaji Vittal. The winner was chosen by a jury comprising graphic novelist and illustrator Sarnath Bannerjee, writer and blogger Jai Arjun Singh, and novelist Palash Krishna Mehrotra.

Ravi Ruia decided to step down as Chairman of the London-listed Essar Energy
Ravi Ruia decided on 21 December 2011 to step down as chairman of the London-listed Essar Energy after a trial court admitted a criminal chargesheet filed by the investigating agency. The Central Bureau of Investigation (CBI) chargesheeted three Essar Group honchos, including Ravi Ruia, alleging violation of telecom industry guidelines. Prashant Ruia, presently the vice chairman, will take over as interim chairman while Ravi Ruia will continue as a director of Essar Energy. Billionaire brothers Shashi and Ravi Ruia lead the $17-billion diversified Essar Group. Essar Energy is owned 76.72% by Essar Global, which is the principal holding company for the group's business activities globally. Essar firms listed on the domestic bourses are- Essar Oil and Essar Shipping. Essar Energy is listed on the London Stock Exchange and is also the only firm in which Ravi Ruia is a chairman. In all other group companies, listed or unlisted, it is his elder brother, Shashi Ruia is chairman. CBI had named the Essar Group promoters, Anshuman and Ravi Ruia, Loop Telecom promoters Kiran Khaitan and I P Khaitan, and Essar Group director (strategy and planning) Vikas Saraf, as accused in the case. Cognizance of the CBI chargesheet against Essar-Loop, the trial court summoned all the eight accused, including three companies, to appear before it on 27 January 2012. The companies named were Loop Telecom Pvt Ltd, Loop Mobile India Ltd and Essar Tele Holding.

In charges filed on 12 December 2012, the CBI alleged the group violated Clause 8 of the guidelines governing the mobile telecom UAS licences by withholding facts about the size of its stake in Loop Telecom thereby creating a complex corporate veil.

Iran's Former Foreign Minister Ali Akbar Wilayati released Nahjul Balagha at AMU
ran's former Foreign Minister Ali Akbar Wilayati on 21 December 2011 released a 1000-year-old manuscript, Nahjul Balagha believed to be a collection of letters, speeches and aphorisms of the fourth Caliphate of Islam Hazrat Ali at Aligarh Muslim University. The manuscript was released for publication at Aligarh Muslim University. The Urdu, Hindi and English versions of this rare manuscript is to be published by the AMU with financial support of the Iran Government. Bahr-e-Zakhkhar, another book believed to contain a rare collection of Tazkira (a sort of biography mostly in the form of poetry) in Persian was also released. AMU's Maulana Azad Library was also gifted 3000 Persian manuscripts and CDs by the Iran Cultural House.

Pakistan defeated Bangladesh in the Second test to sweep the Series 2-0
Pakistan defeated Bangladesh by seven wickets in the second and final cricket Test in Dhaka on 21 December 2011. Pakistan by defeating Bangladesh in the second test was able to to sweep the series 2-0. Pakistan was set 103 to win after bowling Bangladesh out for 234 in its second innings and achieved the target in the final session. Pakistan captain Misbah-ul-Haq secured the victory by hitting a six after Mohammad Hafeez made 47 and Azhar Ali chipped in with 34. Earlier, left-arm spinner Abdur Rehman took 4-51 to restrict Bangladesh.

Delhi Government inked an Agreement with NISG for Digitisation of its Archival Records
Delhi government on 20 December 2011 inked an agreement with the National Institute for Smart Government, NISG, Hyderabad for digitisation of its archival records. It will preserve 10 crore documents including CID records, Gazettes, Maps, Manus, photographs and records of eminent personalities. It will also include transfer of the digital contents on microfilms for long term preservation. The pact was signed by Secretary for arts and Culture of Delhi government and NISG CEO in New Delhi.

22 Writers including Novelists, Poets & Playwrights chosen for Sahitya Akademi Awards for 2011
Twenty-two writers selected on 21 December for the prestigious Sahitya Akademi awards for2011. Eight books of poetry, seven novels, three essays and one each short stories, narrative history, biography and play were selected for the awards. Writers in 23 languages are recongised every year by the Akademi.The books were selected on the basis of recommendations made by a jury of three members in each language. The awards that are given every year and contain an engraved cooper plaque, a shawl and a cheque of Rs 1 lakh. Sahitya Akademi awards for Poetry Poets chosen for the award includes: Late Kabin Phukan (Assamese), Manindra Gupta (Bengali), Premananda Mosahari (Bodo), Naseem Shafaie (Kashmiri), Melvyn Rodrigues (Konkani), Harekrishna Satapathy (Sanskrit), Aditya Kumar Mandi (Santali) and Khaleel Mamoon (Urdu). Sahitya Akademi awards for Novels Novelists who won the award include: Kashinath Singh (Hindi), Kshetri Bira (Manipuri), Kalpanakumari Devi (Odia), Baldev Singh (Punjabi) and Atul Kanakk (Rajasthani). Tamil novelist Su Venkatesan's , debut novel Kaval Kottam earned him the coveted Sahitya Akademi Award in Tamil section. The book is about the 600-year old history of the city of Madurai and a security system that prevailed there Awardees in Essays Category Lalit Magotra (Dogri), Grace (Marathi) and Samala Sadasiva (Telugu) received the award for their books on essays. Awardees in Other Sections Historian Ramachandra Guha was chosen for the award for his book of narrative history - India After Gandhi. Mohan Parmar (Gujarati) was chosen for his short stories, M.K. Sanu (Malayalam) for his biography and Mohan Gehani (Sindhi) for his book on plays.

Nuclear Scientist PK Iyengar who played a Key Role in India's First Nuclear Explosion in 1974 died
India's top nuclear scientist and nuclear physicist PK Iyengar who designed Indias first atomic bomb and was a staunch opponent of the Indo-US nuclear deal, passed away at the Bhabha Atomic Research Centre (BARC) hospital in Trombay on 21 December 2011. Iyengar started his career with the Tata Institute of Fundamental Research (TIFR) in 1952, joined the then atomic energy establishment in Mumbai in 1955. He was next deputed to the Chalk River Laboratories of the Canadian Atomic Energy Establishment. After returning from Canada, he built a number of experimental facilities around research reactors APSARA and CIRUS at the BARC. He was trained under BN Brockhouse, a Nobel laureate in Physics, the nuclear physicist. He had also played a major part in the design of the Dhruva reactor at Trombay.

He was transferred to Bhabha Atomic Research Centre in 1971 where he was appointed the director of Physics Group (PG) and was one of the mainstream scientists in the development of India's first nuclear device under the code name Smiling Buddha. He became director of BARC in 1984 and was chairman of the atomic energy commission (AEC) between 1990 and 1993. Though Iyengar had contributed a great deal to various aspects of India's nuclear programme, he is best known for the country's first nuke test, code-named Smiling Buddha. The test had successfully ushered India into the elite nuclear weapons club, deceiving American spy satellites. Iyengar was one of the key figures in the Operation Smiling Buddhathe first peaceful nuclear explosion at Pokhran on 18 May 1974. One of high points in his career came when he successfully led a team to indigenously develop a reactor called PURNIMA - 1 which was commissioned in 1972. Iyengar identified the need for large-scale development of advanced science and technology. Research and development activities in several areas such as material science, radiation physics and molecular biology became a reality owing to his efforts. After his retirement, Iyengar served several academic roles such as the chairman of the Council for Science and Technology and president of the Indian Nuclear Society. In 1975, he was awarded the Padma Bhushan. He was also honoured withBhatnagar Award (1971), Raman Centenary Medal of the Indian Academy of Science (1988) among others.

Rating Agency Moody's upgraded Credit Rating of Indian Government's Bonds to Investment Grade
Credit rating agency Moody's on 21 December 2011 upgraded the credit rating of the Indian government's bonds from the speculative to investment grade. According to a release issued by the Finance Ministry, Moody's unified India's local and foreign currency bond ratings at Baa3. The ratings agency initially had separate rating for investors who choose to buy bonds in foreign currency and separate rating for those who have a rupee exposure. the ratings agency had a Baa3 foreign currency rating and a Ba1 local currency rating till September 2011. Moody's Investor Service upgraded its local currency rating for Indian government bonds to Baa3 which is investment grade as compared to the earlier Ba1 which is junk or speculative grade. India's Baa3 rating incorporates credit strengths such as a large, diversified economy, robust medium term growth prospects and a strong domestic savings pool that facilitates the financing and refinancing of the government's relatively high debt burden. India's foreign currency bond ceiling is unchanged at Baa2, and the foreign currency bank deposit ceiling is Baa3. The local currency bond and bank deposit ceilings are unified at A1. In addition, the government's local currency short-term rating has been changed to P-3 from NP, indicating the government's ability to repay short-term debts. Moody's expected India's growth downturn to persist for the next two quarters, but the GDP growth would be above average with respect to the similarly rated peers. Giving the rationale for the upgrade, Moody's mentioned that diverse sources of Indian growth have enhanced its resilience to global shocks. The present slowdown could reverse some time in 2012-13, as inflation cools from the current 9 per cent levels.

Moodys upgrade is expected to attract Foreign Institutional Investors (FIIs) to the Indian bond market and boost the gloomy economic outlook. The last time Moody's upgraded any Indian long-term sovereign debt instrument from the speculative to investment grade was in 2004.

India ranked as the most Uncharitable Nation in South Asia

As per the Charities Aid Foundations World Giving Index, India ranked as the most uncharitable nation of South Asia in 2011. India is the worst performer in South Asia with a global ranking of 91. India was ranked at 134 in 2010. Pakistan was ranked to 34th position in 2011 while Sri Lanka ranked 8th. Bangladesh was placed at 78th position and Nepal at 84th. Thailand was the most generous nation, with 85 per cent of its people. The United Kingdom was the second most generous nation, with 79 per cent regularly giving to charity.Charities Aid Foundations World Giving Index ranked nations on the strength of monetary donations and charitable acts.

Expression of Thoughts & Izhar-e-Khayal by Rajya Sabha Deputy Chairman K.Rahman Khan released
Vice President and Rajya Sabha Chairman M Hamid Ansari released two booksExpression of Thoughts (English) and Izhar-eKhayal (Urdu) authored by K.Rahman Khan, Deputy Chairman of Rajya Sabha in New Delhi on 19 December 2011. The books in English and Urdu are compilation of his selected speeches on various subjects like Parliament, democracy and governance, economy and business, besides issues of equity, justice and secularism, women empowerment and development. The books - Expression of Thoughts and Izhar-e-Khayal were released in the presence of Lok Sabha Speaker Meira Kumar and Leader of Opposition in Rajya Sabha Arun Jaitley. Former Lok Sabha Speaker Somnath Chatterjee wrote the foreword to the English version of the book, while Hazrat Maulana Rabe Hasan Nadwi Sahab has written for the Urdu version. On the occasion,the Vice President highlighted Khans seminal contribution to the field of education and minority uplifting especially matters pertaining to Wakf. The Wakf Committee Report presented under his Chairmanship was a remarkable piece of diligent work.

Ten Indians Featured in the Forbes Magazines List of Under 30 Achievers

The Forbes' 30 under 30 list was prepared by selecting young turks from 12 diverse fields including energy, finance, media, law, entertainment, science, design and technology. Facebook's Mark Zuckerberg, human rights activist Ronan Farrow and pop stars Lady Gaga and Justin Bieber are also included in Forbes magazine's list of top-achieving people under age 30.

The list released in December 2011 included 10 people of Indian origin. The list included 360 young ultra impressive individuals that the companies should either now or would be working for them in the future as they are the young people of today who matter. Among the Indian-origin people on the list is 17 year old Param Jaggi, a student and inventor at Austin College. Jaggi created algae-filled device that fits over a car's tailpipe and turns carbon dioxide into oxygen. Vivek Nair, Chief Executive of Damascus Fortune, who is developing a technology that transforms industrial carbon emissions into carbon nanotubes was also named in the list. Manvir Nijhar, Co-Head of European Equity Derivatives Sales at Citigroup was named as well. Kunal Shah, the youngest Managing Director at Goldman Sachs was also included in the list. Making a mark in the field of science was Raj Krishnan, Chief Executive of Biological Dynamics who is developing blood tests that use electric fields to detect key signals that a patient has cancer from the blood. Sidhant Gupta, a graduate student at the University of Washington who has been listed as well, is developing new sensors and software for the home that conserve electricity, heat and gas.

KV Varadaraj, Former Olympian & Winner of Gold Medal in 1951 Asian Games passed away
KV Varadaraj, one of the few Indian footballers who played in two Olympics in 1948 and 1952, passed away in Bangalore on 20 December 2011. Varadaraj was nicknamed 6-footer by the English. Born on 7 May 1924, Varadaraj came up quickly through the ranks representing Challenge Union Mysore, Mysore Railways and Bangalore Blues. Varadaraj was the goalkeeper of the Indian team led by Mohun Bagan defender Talimeren Ao that took the field in the 1948 London Games. Despite Varadaraj also known as Mysore Wall guarding the goal, India lost to France 1-2 in the first round. KV Varadaraj was also part of the Indian squad led by Sailendra Nath Manna at the Helsinki Olympics in 1952. India went in to the first round match with Berland Anthony at the goal and got thrashed 10-1 by Yugoslavia. Varadaraj won the gold medal at the 1951 inaugural Asian Games in New Delhi as he helped India keep a clean slate in all the matches, beating Iran 1-0 in the final. His superb skills under the bar won him a place in the Mohun Bagan. He was a specialist in tie-breakers. For a long time he was a permanent fixture in the Mysore state team. Later he also worked a coach for the HMT. Varadaraj was one among the several Olympians to have emerged from Karnataka, then known as Mysore. Among his illustrious contemporaries were T Shanmugam, BN Vajravelu, Ahmed Khan, SA Basheer and S Raman.

Indian Striker Sunil Chhetri voted Player of the Year by the All India Football Federation
india striker Sunil Chhetri was on 20 December 2011 voted Player of the Year by the All India Football Federation. He was chosen by I-League coaches from a five-player shortlist. He will receive a cash award of Rs 2 lakh and a silver plaque.

The criteria of selection were Performance for India and general conduct on and off the field. Chhetri scored 13 goals in 17 internationals in 2011, which was the highest the by an Indian. Chettri has also scored 11 goals in 20 appearances for I-League club Mohun Bagan. He won the man of the championship in the SAFF Championship in New Delhi in 2011. He has also been awarded the prestigious Arjuna Award in the past. I.M.Vijayan was the first recipient of the award in 1992. In 2010 the award was bestowed on Gouramangi Singh

Controversial Film, Dam999 directed by Sohan Roy entered Oscar Race as Hollywood Entry
Controversial film, Dam999 directed by Sohan Roy made it to a shortlist for the Oscars under the Best Picture category. The film, based on a catastrophe caused by a 100-year-old dam in India giving way, is among the 265 films in contention for the Best Picture. Tamil Nadu government imposed a ban citing that it may cause animosity between Kerala and TN people as the film was dealing with the subject of the 116-year-old Mullaperiyar dam on the Kerala-TN border. Directed by Kerala-based naval architect Sohan Roy, Dam999 is an English film that features Indian actors Rajit Kapur, Vimala Raman, Vinai Rai and Ashish Vidhyarthi. It has been dubbed in Telugu, Tamil, Hindi and Malayalam. It has made it to the Oscar shortlist as a Hollywood film. Malayalam film Adaminte Makan Abu is Indias official entry. The film also fulfilled other criteria of being exhibited theatrically on 35 mm, 70 mm or in digital format and having a running time of over 40 minutes. Three of the songs from Dam999, The film`s songs - Dam 999 (Theme song ), Dakkanga Dugu Dugu and Mujhe Chodke were among the 39 songs shortlisted under the Best Original Song category. All three songs were written by Roy himself, and set to tune by Ousephachan. National award winner Hariharan lent his voice to the Hindi song Mujhe Chod Ke and vocals for the other two shortlisted songs were by Suchith, Suvi and Shaktisree.

Multi Commodity Exchange (MCX) became the World's Fifth-largest Commodity Futures Exchange
India's leading commodity bourse the Multi Commodity Exchange (MCX) on 20 December 2011 became the world's fifth-largest commodity futures exchange. Financial Tech, a promoter of MCX rallied 2.88% after MCX became the world's fifth-largest commodity futures exchange. It became the first Indian entity to join the top-five league in terms of the number of contracts. MCX replaced China-based Dalian Commodity Futures Exchange at the fifth position.

MCX become the worlds fifth-largest in terms of number of futures contracts traded during January to June 2011, based on the Futures Industry Association (FIA) volume survey and market data. MCX has occupied the sixth slot among global commodity futures exchanges for two years since 2009. It had replaced the UK-based London Metal Exchange at the sixth position. Mumbai-based MCX is a demutualised nation-wide electronic futures exchange and the various commodi-ties traded on its platform include bullion, energy, metals and agricultural commodities. The data for the January-June period showed that the global commodity derivatives market had grown by 10.2 per cent, based on the number of contracts. Precious metals and energy contributed 49.8 per cent and 16 per cent, respectively. The Asia-Pacific region contributed 39.6 per cent of the total volume in terms of the number of contracts traded on the exchange.

Supreme Court: Courts can interfere in the Case of Contractual Job

The Supreme Court of India on 20 December 2011 ruled that courts can interfere in the case of contractual job if the decision taken by the management is arbitrary. A bench of the apex court, however, said that scope of such judicial review is not all pervasive. It said a writ Court is entitled to judicially review of the action and determine whether there was any illegality, perversity, unreasonableness, unfairness or irrationality that would vitiate the action. The court passed the order on a petition filed by Grid Corporation of Orissa Ltd challenging the Orissa High Court's order. In its order Orissa high court asked the grid corporation to reinstate one of its employee whose contractual job was terminated.

Markets Slide & Rupee Depreciation forced India to exit from $1 trillion Group
Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-soimpressive revenue collections upset Dalal Street investors on 20 December 2011 leading to a 204 points loss in sensex to end at 15175. The loss of 204 points represented a 28-month low for the index and its fifth consecutive session of losses, during which it has lost 827 points, or 5.2%. The days slide was triggered by FII selling which recorded a net outflow of Rs 526 crore, taking the months total net outflow to about Rs 1300 crore. The Indian rupee which had weakened further to go below 53 to a US dollar level again, closed at level of Rs 52.89 on 19 December 2011. The combined effect of the markets slide and the depreciation of the rupee forced India to exit from the select group of countries with a $1 trillion market capitalization. With BSEs market cap currently at Rs 52.53 lakh crore, Indias market cap in dollar terms works out to $993 billion. On 28 May 2007, when the rupee was showing unusual strength against the dollar and hovered around the 40 mark that India had first entered the $1-trillion market cap league. However, lately the twin effect of rupees weakness and the slide of the market combined to drag it below the trillion dollar mark. According to Bloomberg data, Indias market cap so far in 2011 went down by 38%, making it the worst performing market among the 12 countries that were in the trillion dollar club.

Fund raising through ADRs (American Depository Receipts) by Indian corporate houses dried up. There was not even a single ADR issue in 2011. However, companies raised about $220 million through GDRs (Global Depository Receipts) during 2011. The amount raised from GDRs this year is, however, much lower than the mobilization in 2010. The largest GDR of the year 2011 was just $32 million from Rasoya Proteins. The average size of GDR in 2011 was $18.3 million compared to $26.6 million in the previous year. Even during 2010, there was not even a single ADR issue, with fund raising through this route almost becoming a thing of the past. Data compiled by SMC Global Securities showed that 33 GDR issues mobilized about $880 million in 2010.

Scientists found Remains of Giant Dianosaur on Antarctica

Scientists discovered a fossil of a tail-bone belonging to a titanosaur on Antarctica. The new specimen was discovered on James Ross Island. Their remains were found around the world but this is the first evidence to support the fact that they roamed Antarctica. Titanosaur is the family of giant plant-eating dinosaurs. Titanosaurs were saurpods-four-legged herbivorous dinosaurs. They had long necks and tails. Titanosaurs included the mighty Argentinosaurus whose length was 100 feet.

NASA discovered the First Earth-size Planets Kepler-20e and Kepler-20f

NASA's Kepler mission on 20 December 2011 discovered the first Earth-size planets orbiting a sun-like star outside our solar system. The planets, calledKepler-20e and Kepler-20f, are too close to their star to be in the so-called habitable zone where liquid water could exist on a planet's surface, but they are the smallest exoplanets ever confirmed around a star like our sun. The discovery marks the next important milestone in the ultimate search for planets like Earth. The new planets are thought to be rocky. Kepler-20e is slightly smaller than Venus, measuring 0.87 times the radius of Earth. Kepler-20f is a bit larger than Earth, measuring 1.03 times its radius. Both planets reside in a five-planet system called Kepler-20, approximately 1000 light-years away in the constellation Lyra. The Kepler space telescope detects planets and planet candidates by measuring dips in the brightness of more than 150000 stars to search for planets crossing in front, or transiting, their stars. The Kepler science team requires at least three transits to verify a signal as a planet. The Kepler science team uses ground-based telescopes and the Spitzer Space Telescope to review observations on planet candidates the spacecraft finds. The star field Kepler observes in the constellations Cygnus and Lyra can be seen only from ground-based observatories in spring through early fall. The data from these other observations help determine which candidates can be validated as planets. To validate Kepler-20e and Kepler-20f, astronomers used a computer program called Blender, which runs simulations to help rule out other astrophysical phenomena masquerading as a planet.

Kepler-20e orbits its parent star every 6.1 days and Kepler-20f every 19.6 days. These short orbital periods mean very hot, inhospitable worlds. Kepler-20f, at 800 degrees Fahrenheit, is similar to an average day on the planet Mercury. The surface temperature of Kepler-20e, at more than 1400 degrees Fahrenheit, would melt glass. The Kepler-20 system includes three other planets that are larger than Earth but smaller than Neptune. Kepler-20b, the closest planet, Kepler-20c, the third planet, and Kepler-20d, the fifth planet, orbit their star every 3.7, 10.9 and 77.6 days. All five planets have orbits lying roughly within Mercury's orbit in our solar system. The host star belongs to the same G-type class as our sun, although it is slightly smaller and cooler. The system has an unexpected arrangement. In our solar system, small, rocky worlds orbit close to the sun and large, gaseous worlds orbit farther out. In comparison, the planets of Kepler-20 are organized in alternating size: large, small, large, small and large.

Chhattisgarh Assembly defeated the No-confidence Motion against the Government

The Chhattishagrh assembly on 20 December 2011 defeated the no-confidence motion against the 3-year old Raman Singh-led government. The motion, which was brought by the main Opposition Congress, was opposed by 48 MLAs of the BJP and supported by 37 MLAs of the Congress in the 91 member strong Assembly. Chhattisgarh vidhan sabha now has 49 members from the BJP, 39 from the Congress, 2 from the BSP and one nominated member. Discussion on the motion went on for three days.

The Union Cabinet of India approved National Food Security Bill

The Union Cabinet of India on 18 December 2011 approved a draft National Food Security Bill that seeks to give legal entitlement of cheaper food-grains to 62.5 per cent of the country's population. The total financial liability to implement the law would be 3.5 lakh crore rupees, as funds will be required to raise agriculture production, create storage space and publicity among others. The bill aims to provide Indian citizens access to nutritional food at affordable prices. This bill proposes to give a legal entitlement to food to 75 percent of our rural population and 50 percent of our urban population. The bill also provides for 7 kg of rice, wheat and coarse grains per person per month to priority households at 3 Rupees, 2 rupees and 1 rupee per kg respectively.

Morocco banned EU Fishing Vessels Operating in its Waters

Morocco ordered foreign fishing boats operating in its waters to leave immediately following the decision of European Parliament, which refused to extend the deal under which the EU paid Morocco for access to its fish stocks. The Parliament termed the deal illegal as it did not benefit the people living in the disputed Western Sahara, off which most of the fishing was done.

The European Union had been paying 36m euros a year to Morocco for fishing rights in its waters. The deal between Morocco and EU expired in February 2011. On 14 December 2011, European parliament voted 326 to 296 to block the renewal, on the basis that there was not enough evidence to show the deal would benefit the Sahrawi population, who live in Western Sahara. Morocco annexed Western Sahara in the year 1976. However, its claims of sovereignty have not been internationally recognised.

Former Indian Footballer Hamilton Bobby passed away on 17 December 2011

Former Indian footballer Hamilton Bobby passed away following a cardiac arreston 17 December 2011. Bobby, an assistant manager of Indian Bank who fell unconscious at his place of work could not be saved though he was immediately rushed to the hospital. He had twice captained Tamil Nadu in the Santosh Trophy and also represented the state for seven years from 1993 to 2000. The footballer had also played in the under-16 and under-23 national teams and was a member of the senior India national team at President's Cup in Colombo.

Syria agreed to allow the Arab League Observers inside the Country
Syria on 19 November 2011 agreed to allow the Arab League observers to monitor the situation inside the country. The Syrian Deputy Foreign Minister Faisal Mekdad signed the Arab League peace plan to this effect in Cairo. The plan is aimed at ending the crackdown on pro democracy protesters in Syria. The League accepted the amendments suggested by Syria in the protocol on the movement of observers in the country. The independent observers will assess the ground reality in Syria. The Arab League had set the date of 21 December 2011 as deadline for Syria to sign the deal otherwise it would have referred the peace plan to U.N. Security Council.

Indian Women's Hockey won Bronze in the Four-nation Tournament held in Argentina
The Indian women's hockey team defeated Ireland 4-1 win to clinch the bronze medal in the four-nation tournament held in Parana, Argentina in December 2011. Both the teams were locked 1-1 at half-time but India came back strongly in the second session to score three goals. Jaspreet Kaur, Anuradha Thokchom, Vandana Katariya and Preety Sunila Kiro 69thscored for India India thus won bronze medals at both the four-nation tournaments held at Buenos Aires and Parana on the current tour. In the final World champion Argentina defeted South Africa 2-0 to win the tournament.

Biopharmaceutical Company AstraZeneca chose HCL as Strategic Infrastructure Outsourcing Partner

AstraZeneca, a biopharmaceutical company in December 2011 chose HCL Technologies (HCL) as a strategic infrastructure outsourcing partner. HCL will be responsible for the provision, management and transformation of AstraZeneca's global hosting and collaboration environment. As part of the five-year engagement, HCL will be responsible for managing AstraZeneca's entire data centre environment across over 60 locations globally. Also as a a part of the agreement, HCL will host and migrate some of the existing large data centres into state-of-the-art facilities. In addition, HCL will manage AstraZeneca's global collaboration environment, including e-mail, messaging and collaboration services for users worldwide. It will deliver transformational projects, including server virtualisation, storage and back-up transformation and implementation of the hybrid cloud.

Government directed Cash Rich PSUs to issue Bonus Shares to balance Paid-up Capital & Reserves
The Union government directed cash rich PSUs to issue bonus shares to bring about a proper balance between paid up capital and accumulated reserves. The move is aimed at improving market image of state run firms. The Department of Public Enterprises (DPE) in an internal note mentioned that there are a number of Central Public Sector Enterprises (CPSEs) which have reserves and surpluses more than three times of their paid up capital. Reserves and surpluses in excess of paid up capital does not reflect equitable capital base of the company. Referring to a 1995 instructions on bonus shares, the DPE directed concerned administrative ministries are requested to direct the CPSEs under their control to examine and approve the bonus share proposals. In 1995 the DPE had issued instructions that such PSUs should immediately consider the scope of issuing bonus shares to Government of India and other existing shareholders. The issue of bonus shares helps in bringing about a proper balance between paid up capital and accumulated reserves. Also issue of bonus shares helps elicit good public response to equity issues of the public enterprises and helps in improving market image of the company, as per guidelines of DPE. The DPE note also mentioned that PSUs that large reserves will be allowed to make any public issue only after examining the scope for capitalising a portion of the reserves.

The USA Government lifted most of its Sanctions on Libya

The USA government on 16 December 2011 lifted most of its sanctions on Libya, unfreezing some of Libya's assets held in the United States. The USA government freed about 30 billion dollars in assets owned by the Libyan government and 2 Libyan banks that had been blocked since February. But holdings of the late leader Muammar al-Qadhafi and his family, as well as those of his aides, will be kept frozen. The US decision coincided with a similar action by the UN Security Council, which decided to end a freeze on the assets of Libya's financial institutions, including the central bank.

Enigmatic Leader of North Korea, Kim Jong-il referred to as Supreme Leader passed away
The enigmatic leader of North Korea Kim Jong-il passed away on 17 December 2011 after he suffered a massive heart attack on a train. The news of his death was announced by the state television from the North Korean capital, Pyongyang on 19 December 2011. An autopsy conducted mentioned that the death was caused by physical and mental over-work. Kim Jong-il led his nation for 17 years and through a devastating famine while frustrating the United States and other global powers with approach to talks on giving up nuclear arms in return for food and other assistance. His longtime pursuit of nuclear weapons and his militarys repeated threats to South Korea and the United States caused worries that fighting might break out again on the Korean peninsula or that North Korea might provide weapons of mass destruction to terrorist movements. The Korean War ended more than 50 years ago in a ceasefire, but the two sides remain technically in a state of war. Kim took over after his father and founding President Kim Il-sung died in 1994, coming to power with a reputation as a playboy. In the mid- to late-1990s he presided over a famine which killed hundreds of thousands of his people. Severe food shortages still continue and the UN children's fund estimates one-third of children are stunted by malnutrition. However Kim still found the resources to continue a nuclear weapons programme which culminated in tests in October 2006 and May 2009. The country is believed to have a plutonium stockpile big enough for six to eight weapons. More on Kim Jong-il Kim Jong-il was born as Yuri Irsenovich Kim on 16 February 1941/2. He was the General Secretary of the Workers' Party of Korea, the ruling party since 1948, Chairman of the National Defence Commission of North Korea, and the supreme commander of the Korean People's Army, the fourth-largest standing army in the world. In April 2009, North Korea's constitution was amended to refer to him implicitly as the supreme leader. On 24 December 1991, Kim was also named supreme commander of the North Korean armed forces. By the time of the Sixth Party Congress in October 1980, Kim Jong-il's control of the Party operation was complete. He was given senior posts in the Politburo, the Military Commission and the party Secretariat. When he was made a member of the Seventh Supreme People's Assembly in February 1982, international observers deemed him the heir apparent of North Korea.

The North Korean government system became even more centralized and autocratic during the 1980s and 1990s under Kim Jongil than it had been under his father. The state-controlled economy of North Korea struggled throughout the 1990s, primarily due to mismanagement. According to a 2004 Human Rights Watch report, the North Korean government under Kim was among the world's most repressive governments, having up to 200000 political prisoners.

Veteran Bollywood Actress Hema Malini named Person of the Year by PETA
Veteran Bollywood actress Hema Malini was named the person of the year by People for the Ethical Treatment of Animals (PETA). PETA named her the Person of the Year for raising her voice to oppose cruelty to animals and her staunch commitment to a vegetarian diet. The Dream Girl on behalf of PETA had recently appealed to the minister of Environment and Forests to take immediate steps to end the cruel tradition of jallikattu. Jallikattu is a sport event in Tamil Nadu in which terrified bulls are kicked, punched, jumped on, dragged to the ground and otherwise tormented. In response to her plea, the Ministry issued a notification in The Gazette of India stating that bulls could no longer be used as performing animals. Hemaji has the determination to effect positive social changes that PETA India stands for. She has used her prestige time and again to speak up for all the voiceless animals whose abuse and oppression might otherwise go unnoticed.

India and Australia inked revised DTAA (Double Taxation Avoidance Agreement)
India and Australia on 16 December 2011 signed an agreement to amend DTAA (Double Taxation Avoidance Agreement) with the objective of ensuring more effective exchange of financial information between the two countries. DTAA was signed between India and Australia in 1991. The revised tax agreement will facilitate the exchange of information on banking related information and taxation policies. The revised agreement also has a provision that India and Australia can assist each other in the collection of revenue claims. The agreement states that nationals of one country will not be discriminated against the nationals of the other country, a feature absent in the earlier agreement. Moreover, there was no threshold limit for determining permanent establishment. In the revised agreement, the threshold limit has been rationlised to avail the exemption for service and exploration to boost cross border movement of capital and services.

Former Czech President Vaclav Havel who played a Crucial Role in Velvet Revolution died in Prague

Former Czech president Vaclav Havel who had been suffering from chronic respiratory problems died on 18 December 2011 at the age of 75. He was one of the leading anti-Communist dissidents of the 1970s and 1980s. He was the tenth and last president of Czechoslovakia (198992) and the first President of the Czech Republic (19932003). He played a seminal role in the Velvet Revolution that won his people their freedom. The peaceful resistance pursued by him exposed the emptiness of a repressive ideology. He was his country's first democratically elected president after the Velvet Revolution. The non-violent Velvet Revolution ended four decades of repression by a regime which Havel ridiculed as Absurdistan. Vaclav Havel, the dissident playwright wove theatre into politics to peacefully bring down communism in Czechoslovakia and thus became a hero of the epic struggle that ended the Cold War. Vaclav Havel Vaclav Havel was born on 5 October 1936 in Prague. His familys assets were confiscated by the communists in 1948. Havel who was denied a formal education had to earn a degree at night school. His political activism began in January 1977, when he co-authored the human rights manifesto Charter 77, which drew wide attention in the West. Havel first made a name for himself after the 1968 Soviet-led invasion that crushed the Prague Spring reforms of Alexander Dubcek. He wrote a series of underground essays that stand with the work of Soviet dissident Andrei Sakharov. Havel first came to international fame as a dissident playwright in the 1970s. The playwright turned political activist spent fourand-a-half years in prison for opposing Czechslovakia's Communist government before emerging as a leader of the non-violent Velvet Revolution in 1989. After communism began to collapse across Eastern Europe and the Berlin Wall fell, Havel was elected Czechoslovakia's president by the country's still-communist parliament in 1989. As president, he oversaw the country's transition to democracy and a free-market economy and also the peaceful 1993 breakup into the Czech Republic and Slovakia. During his presidency, Czechoslovakia broke up into Czech Republic and Slovakia in 1993. He was credited with laying the groundwork that brought his Czech Republic into the 27-nation European Union. Czech Republic became a mamber of the European Union in 2004. During his regime his country also joined NATO in 1999. Havel left office in 2003. Important Dates On 29 December 1989, while leader of the Civic Forum, Havel became president by a unanimous vote of the Federal Assembly. After the free elections of 1990 he retained his presidency. On 3 July 1992 the federal parliament did not elect Havel, who was the only candidate due to a lack of support from Slovak MPs. After the Slovaks issued their Declaration of Independence, he resigned as president on 20 July 1992 mentioning that he would not preside over the country's breakup. However, when the Czech Republic was created, he stood for election as president on 26 January 1993 and won. Honours bestowed on Havel

He was awardedthe Prize For Freedom of the Liberal International in 1990. Havel received the Prince of Asturias Award for Communication and Humanities and the Prix mondial Cino Del Duca in 1997. In 2002, he became the third recipient of the Hanno R. Ellenbogen Citizenship Award presented by the Prague Society for International Cooperation. In 2003, he was awarded the International Gandhi Peace Prize. Havel was the inaugural recipient of Amnesty International's Ambassador of Conscience Award for his work in promoting human rightsHe was also the recipient of the US Presidential Medal of Freedom. In January 2008, the Europe-based A Different View cited Havel to be one of the 15 Champions of World Democracy. Other champions mentioned were Nelson Mandela, Lech Wa sa and Corazon Aquino. As a former Czech President, Havel was a member of the Club of Madrid. In 2009 he was awarded the Quadriga Award. He however decided to return it in 2011 following the announcement of Vladimir Putin as one of the 2011 award recipients.

RLD Leader Ajit Singh inducted into the Union Cabinet as Civil Aviation Minister
Rashtriya Lok Dal (RLD) leader Ajit Singh was inducted into the Union Cabinet as civil aviation minister on 18 December 2011. President Pratibha Patil administered the oath of office and secrecy to Singh at a ceremony in Rashtrapati Bhavan. The Jat leader will face the challenge of reviving the aviation sector in general and the government-owned Air India in particular as the new Civil Aviation minister. The Civil Aviation Ministry was held by Overseas Indian Affairs Minister Vayalar Ravi after the elevation of Praful Patel as Cabinet Minister. About Ajit Singh Singh who is an MP from Baghpat is the fourth entry into the Cabinet. Ajit Singh is a six-time member of the Lok Sabha and represents his family bastion of Baghpat. This is the fourth time he has become a Union minister. He had joined the government for the first time in the V.P. Singh cabinet and was in charge of the industry portfolio from 1989 to 1990. Son of the former Prime Minister, Chaudhary Charan Singh, Ajit Singh was a Minister in the P.V. Narasimha Rao-led Congress government, in the United Front government under Prime Minister V.P. Singh and later in the Atal Bihari Vajpayee-led NDA government. Ajit Singh's biggest challenge is to revive Air India which is stuck in debt crisis. Singh will be expected to tackle issues such as growing operational costs, human resource optimisation and financial support. With Singh's induction, the Cabinet strength now is 33 and the Council of Ministers 77. This is for the third time that it has been expanded in UPA-II. With the five-member RLD joining the UPA, its strength in the 545-strong Lok Sabha has gone up from 272 to 277. Rashtriya Lok Dal

The RLD is 15th party to join the UPA. The major constituents of the UPA are the Trinamool Congress, the Nationalist Congress Party and the Dravida Munnetra Kazhagam. With five MPs of the RLD joining it, its strength in the Lok Sabha is now 277. The RLD joined the Congress-led United Progressive Alliance (UPA) in mid December 2011. The RLD was part of the BJP-led National Democratic Alliance in the 2009 general elections. It had earlier partnered with the Samajwadi Party and the Bahujan Samaj Party. The RLD, which has presence in its traditional stronghold of western Uttar Pradesh, will contest the coming Assembly elections in the State along with the Congress. In state assembly election in 2012. The Congress is presently trying hard to revive its fortunes in India's most populous State under the leadership of party general secretary Rahul Gandhi.

Genetic tests developed by Scientists to detect Breast Cancer

Scientists recently developed a genetic test to detect breast cancer. It will help those women who are in the early stages of breast cancer. It will save them the trouble of undergoing chemotherapy. Scientists invented the Oncotype DX test, which can help doctors determine the likelihood of breast cancer returning and if further intervention is needed. The test uses a small sample of breast tumour tissue and focuses on groups of genes, which can influence how a cancer is likely to grow and respond to treatment. At present, the test is available in the US and American Society for Clinical Oncology and the National Comprehensive Cancer Network include it in their treatment guidelines for the early stage of breast cancer.

Poet Ram Nath Singh, popularly known as Adam Gondvi passed away in Lucknow
Poet Ram Nath Singh, popularly known as Adam Gondvi, breathed his last in Lucknow on 18 December 2011. Gondvi lived like a villager throughout his life and wrote revolutionary poetry focusing on the pathetic state of dalits and the poor. He himself died in poor financial condition and cultural and social activists had to appeal for donations for his treatment. Adam Gondvi was born on 22 October 1947 in Aataa Paraspur village of Gonda district in Uttar Pradesh. His couplet, Kaaju bhuni plate mein, whisky bhari gilaas mein, utra hai raamraaj vidhayak niwas mein was a great hit among the masses. Gondvi also criticised politicians who sought votes on caste and communal basis in his gazal collections. His collection Dharti ki satah par and Samay se Muthbhed made him an acclaimed gazal writer. He was felicitated with Dushyant Kumar prize in 1998 by Madhya Pradesh government.

India's Energy Security under Pressure due to Increasing Dependence on Imported Oil

As per a joint study by the Federation of Indian Chambers of Commerce and Industry ( FICCI) and consultancy firm Ernst and Young, India's energy security is under severe pressure due to reasons like increasing dependence on imported oil, regulatory uncertainty and natural gas pricing policies. The report mentioned that a small pool of skilled manpower and poor upstream infrastructure are also exerting pressure. The Report According to the report, there exists a dire need to address the supply issue through a slew of policy reforms, as well as to launch a massive awareness campaign on the demand side management, and the pricing of products to incentivise investments for raising domestic production. As per the Integrated Energy Policy of the Government, India's requirement of primary commercial energy is projected to increase from 551 million tonne of oil equivalent in 2011-12 to 1823 mt of oil equivalent in 2031-32. The increase in oil price by $10 a barrel is likely to slow the GDP growth by 0.2 per cent and may inflate the current account deficit by 0.4 per cent. Also, the recent depreciation of the rupee raised the crude oil imports costs, impacting trade deficit and domestic inflation. Consequently the import of crude oil and oil products rose from $50.3 billion in 2005-06 to $115.9 billion in 2010-11. In the current financial year (till October 2011), oil imports touched $75 billion. The country meets 73 percent of its fuel needs through oil imports. It was observed that around 32 per cent of demand for gas in the country is unmet. Most of the gas production and liquefied natural gas (LNG) terminals were located in the western part of the country, adversely impacting the availability of gas in the rest of the country. The availability of gas is expected to increase on the back of incremental supplies from the KG-D6 block, as well as from the new gas fields of ONGC and Gujarat State Petroleum, coal-bed methane (CBM) and new LNG facilities. Suggestions made The study sugggested the need to introduce reform and favourable policies for the private sector to secure foreign oil and gas assets. India, though has surplus oil refining capacity, it still needs major investments to upgrade the existing production infrastructure. It also stressed on the need to shore up the energy security initiatives in an environment of unstable geopolitical situation in the Middle East and North Africa, from where India gets 60 percent of its oil imports.

Wang Yihan defeated Saina Nehwal in the BWF World Super Series Badminton Championship in China

Indian ace badminton player and World No. 4 Saina Nehwal of India was defeated by World No. 1 Wang Yihan 18-21, 21-13, 21-13 in the womens singles final of the $500000 BWF World Super Series badminton championship in China on 18 December 2011. In 2011 Saina won only the Swiss Open Super Series title. Wang proved to be too good for the Indian shuttler in the crucial phases of the 72-minute final. The scores were levelled twice, four-all and 11-all, before the Chinese picked seven points in a row to take a huge 18-11 lead. With this win, Yihan kept her 100 per cent record against Saina intact, having now beaten her in all their four faceoffs so far. Saina Nehwal had created history by becoming the first ever Indian to enter the singles final of the World Super Series. Gutta Jwala and V. Diju were the only other Indians who made it to the final in mixed doubles in the 2009 edition.

DGH approved Cairn Indias Proposal to Commence Production from Bhagyam

The directorate general of hydrocarbons (DGH), the technical arm of the oil ministry approved Cairn Indias proposal to commence production from Bhagyam, the second-largest oil field in the Rajasthan block. The company, which currently operates the block with a 70% stake, waited for a year to obtain approvals to start production. The DGH gave its approvals to commence production from Bhagyam, along with both the management committee and the operations committee. The management committee comprises Cairn India, ONGC and representatives of the DGH and the petroleum minister while the OC is composed of only JV partners Cairn India and ONGC. The representatives of the oil ministry also gave their in-principle nod to commence production. Currently, Mangala, the biggest of the 18 discoveries in the Rajasthan block, is producing 125000 bpd. Bhagyam is targeted to produce a peak output of 40000 bpd by the end of 2011, which would help Cairn achieve the approved peak output of up to 175000 bpd. The approvals were stuck for more than a year as previously, the ministry wanted all prior entitlement issues related to the Vedanta deal to be resolved before giving Cairn a go-ahead to start production from the oil field.

Renowned Architect Charles Correa presented with Goa's Highest Civilian Honour, Gomant Vibhushan
World renowned architect and Goa's son-of-the-soil Charles Correa was bestowed with Goa's highest civilian honour, the Gomant Vibhushan, on the eve of the Golden Jubiliee of Goa's Liberation on 18 December 2011. The award was presented to him by Goa governor K Shankaranarayanan. Goa governor presented Correa with the over half-metre high, glass-encased brass replica of Goa's state symbol along with a cash award of Rs 5 lakh and a citation in one of Correa's own architectural creations, the Kala Academy at Panaji. Correa's architectural genius and projects dotsnot only Indian cities but also cities around the world, including Boston and Lisbon.

Correa is the second recipient of the Gomant Vibhushan, the first being eminent nuclear scientist Anil Kakodkar, who was awarded the Gomant Vibhushan in 2010. Correa has earlier been conferred with India's Padma Shri and Padma Vibhushan.

Indian Mobile Phone Market grew 12% in Units shipped in JulySeptember Quarter of 2011
According to the International Data Corporation's (IDC) Quarter 3 2011 Mobile Phone Tracker release, the Indian mobile phone market grew 12% in units shipped in the July-September quarter of 2011 to clock 47.07 million units. Year-on-year too, there was a shipment growth of 13.8%. The shipments were propelled by the dual-SIM handsets, which grew by 25.2 per cent over the previous quarter (April-June). The mobile phone shipments witnessed a spurt, as vendors built channel inventories ahead of a long festival season. Dual-SIM handset shipments were notable with a sequential growth of 25.2% over the previous quarter(april-June quarter). However there was a sharp decline in the mobile service subscription adds during July-Sept 2011. Nokia grew its share of overall mobile phone shipments during July-Sept by 6.8% over the previous quarter, Samsung succeeded in increasing its smartphone shipment share by 5% over the same July-September quarter. Nokia had 31.8% of the mobile phones shipment share, followed by Samsung at 17.5% in the quarter of July-Sept 2011. In the smartphone segment, Nokia still led with a shipment share of 35.3%, but Samsung came closer at 26%. According to the release, the overall, smartphones shipment for the India market showed an impressive growth of 21.4% over the previous quarter and 51.5% year-on-year. This helped the segment grow its contribution to the mobile phone shipment to 6.5% in third quarter from 5.6% in the second quarter. From an operating system (OS) perspective, Android overtook Symbian to emerge as the top platform in India for the first time, with a share of 42.4% of the smartphone market. The platform (Android) saw a growth of 90% over the previous quarter. The Apple iOS consolidated further, with a 3.09% share of the smartphone market, compared to a share of 2.6% in second quarter (April-June) of 2011. Several of the Indian and Chinese brands registered varying declines in shipments. However Spice and MAXX were notable exceptions and saw shipment growths of 34.1% and 10.5%, respectively in July-September) over the previous quarter of (AprilJune) 2011.

Diesel Consumption in Delhi declined by 26% in 2010-11

Diesel consumption in Delhi declined by a startling 26% in 2010-11 compared to 2009-10. Delhi was however found to have used 2.24% more petrol in the same period. As per the latest Delhi government figures, the consumption of diesel in the city was 8.11 lakh metric tonnes in 2010-2011 as against 10.98 lakh metric tonnes the year before. The drop of around three lakh metric tonnes of diesel in 2010-11 came when nearly five lakh new cars were added to the city roads in the same period.

According to government statistics, the number of vehicles in the city went up to 69.32 lakh in 2010-11 from 64.51 lakh in 200910. The decline in diesel consumption despite significant increase in number of vehicles was attributed to expansion of metro network and modernisation of bus transport. The city had only 5.62 lakh vehicles in 1981. The total number of vehicles in Delhi is more than the combined total of vehicles in Mumbai, Chennai and Kolkata. On an average, over 1000 vehicles gets added to the city roads everyday. The consumption of CNG and petrol, however, swelled by 19.2% and 2. 24% in 2010-11,respectively, as compared to their consumption in 2009-11. In 2010-11, the city consumed a total of 8.25 lakh metric tonnes of petrol as against 8.07 lakh metric tonnes in the previous year. The consumption of petrol, which was 6.12 lakh metric tonnes in 2003-04, has been on the rise while consumption of diesel has been on the decline since 2007-08. The city consumed 13.94 lakh metric tonnes of diesel in 2007-08.

NATO (North Atlantic Treaty Organisation) ended its Training Mission in Iraq
NATO ended its training mission in Iraq on 17 December 2011. The mission was aimed at assisting in the development of Iraqi security forces training structures and institutions. It was comprised of 120 soldiers from 12 countries. All of them will leave by the end of 2012. The move follows a day after US military handed over the last military base in Iraq and officially announced shutdown of its operations in the country. Earlier, the alliance had been asked by Prime Minister Maliki to extend its training mission until the end of 2013 and it had accepted the request in principle. However, Baghdad made it clear that it can't grant immunity to the soldiers on its own as the matter has to be taken to the cabinet and then parliament for approval.

Supreme Court: Animals also entitled to Accident Compensation

A bench of the Supreme Court including Justices BS Chauhan and TS Thakur on 16 December 2011 ruled that even animals are entitled to accident compensation. The court upheld an award of 13.48 lakh rupees for the death of a temple elephant. The animal was hit by a KSRTC (Kerala State Transport Corporation) bus. The court refused to accept the contention that the Motor Vehicles Act would be applicable to human beings and not to animals. It clarified that the definition of property in the Motor Vehicles Act is very inclusive and wide. Therefore, animal should be included under this act. The court added that the elephant was owned by the temple and it was Gods property.

Conference on Autism organised to understand Applied Behaviour

Non-government organisation Association for Behaviour Analysis (ABA-India) organised the 2nd ABA-India conference Autism: From Early Childhood to Adulthood Successful Data Based Intervention at India Habitat Centre, New Delhi on 17 and 18 December 2011. Association for Behaviour Analysis is working on increasing the limited resource pool of behaviour analysts and educating parents of children with autism. The two-day conference was aimed at providing support for the understanding of Applied Behaviour Analysis through cuttingedge workshops and training to parent groups and organisations based on latest research.

The conference is focussed on the child with autism and successful evidence based interventions for these children. Besides the keynote speakers and presentations, papers were also be presented by parents teaching their children using ABA principles. The conference offered a first one of a kind learning opportunity. ABA-India is an affiliate chapter of ABA International, U.S., and is pioneering the introduction of ABA in India. ABA is a subject dealing with the scientific study of human behaviour and its applications in various fields, including mental health, developmental disabilities, child development and education. ABA methods are used to shape behaviour for bringing positive changes in society. India, according to the organisation lacks any study on the subject in the country. All behaviour analysts in India study behaviour analysis abroad at Bachelor's and Master's level, making services in the country expensive.

Union Home Minister P Chidambaram inaugurated Training Facilities NSGs Chennai Hub
Union Home Minister P Chidambaram on 17 December 2011 inaugurated several facilities, including a new administrative block and training facilities exclusively designed for National Security Guards (NSG) Chennai hub. National Security Guards (NSG) Chennai hub was formed in 2009. National Security Guard (NSG) commandos will now be trained in this exclusive, 69-acre facility sandwiched between forests and hillocks at Nerkundram off the Vandalur-Kelambakkam Road, about 30 km from Chennai. the commandos were untill now housed in a temporary unit in Ashok Nagar. Steps have been taken to ensure that the 241 commandos trained for anti-terror strikes and anti-hijack operations are ready for deployment within a few minutes of receiving a request. The hub has been designed to immediately mount a counter attack on the occasion of an attack or a hijack. The unit members are to reach the airport or the Tambaram air force station within 20-40 minutes of a terror strike being reported to board a plane. Machine guns, rocket launchers, night vision cameras, ammunition and other equipment had been provided to the commandos who will stay at the hub for five years before returning to their parent force. A fresh team will be brought in every five years. After the November 26, 2008 Mumbai terror strikes, a decision to set up regional NSG hubs at Mumbai, Kolkata, Hyderabad and Chennai was taken on 30 June 2009. Of these, the Kolkata and Hyderabad hubs will be upgraded into bigger facilities to cater to the eastern and southern regions. A regional centre is also to be established at Hyderabad from where commandos can be moved for counter-terror operations in South India. The Hyderabad centre will be on the lines of the NSG's Manesar facility in Delhi.

Reserve Bank of India kept its Policy Repo Rate unchanged at 8.5 percent at its Mid-quarter Review
The Reserve Bank of India on 16 December 2011 left its policy rate unchanged at a three-year high of 8.5 per cent. RBI paused the hike after 13 consecutive rate hikes since March 2010.

The Reserve Bank of India kept its policy repo rate unchanged at 8.5 percent at its mid-quarter review two days after data showed November wholesale price index inflation at 9.11 percent, far lower than the 9.73 percent clocked in October. The RBI also left the cash reserve ratio unchanged at 6 percent, despite market specualtion that it might cut the ratio in order to boost market liquidity. The central bank noted that while inflation remained on the projected trajectory, downside risks to growth clearly increased. It reiterated that further rate hikes might not be warranted as the growth momentum was moderating. Retaining its option to raise rates again if inflationary expectations persist, the RBI mentioned that the timing and magnitude of further action would depend on how things panned out on the inflation and rupee fronts. RBIs policy statement stated that inflation risks remain high and inflation could quickly recur as a result of both supply and demand forces. Also, the rupee remains under stress. The central bank that the GDP growth declined to 6.9 per cent in the second quarter (July-September) from 7.7 per cent in the first (April-June), and key deficit indicators worsened mainly due to higher expenditure and lower revenues. Noting that liquidity conditions were tight, consistent with the policy intent, the RBI mentioned that it would conduct open market operations as and when it felt the need for it.

George Whitman, Owner of a Fabled English-language Bookstore, Shakespeare & Company died
George Whitman, the American-born owner of Shakespeare & Company, a fabled English-language bookstore on the Left Bank in Paris died in Paris on 14 December 2011. His bookstore served as a magnet for writers , poets and tourists for close to 60 years. For him the book business was the business of life. More than a distributor of books, Whitman saw himself as patron of a literary haven and the heir to Sylvia Beach, the founder of the original Shakespeare & Company. Whitman founded his bookstore in 1951 and named it Le Mistral, then later named it after Sylvia Beach's earlier Paris bookstore Shakespeare and Company. Overlooking the Seine and facing the Cathedral of Notre-Dame , the store that look beat-up behind a Dickensian facade and spread over three floors, has been an offbeat mix of open house and literary commune. Whitman provided food and makeshift beds to young aspiring novelists or writing nomads, often letting them spend a night, a week, or even months. He welcomed visitors with large-print messages on the walls. He was a contemporary of such Beat poets as Jack Kerouac and Allen Ginsberg. Born in East Orange, New Jersey, United States he was awarded the Officier des Arts et Lettres medal by the French government for his contribution to the arts over the previous fifty years.

Non-food Credit grew 17.8% to over Rs 43.66 lakh crore in the 12 months ending 2 December 2011

Non-food credit grew 17.8% to over Rs 43.66 lakh crore in the 12 months ending 2 December 2011 according to data released by the Reserve Bank of India. The offtake had stood at Rs 37.04 lakh crore during the 12 months to 3 December 2010. For the second consecutive fortnight when the annualised credit growth stayed below 18%. A per the experts, slowdown in credit growth is on account of the high interest rate regime, which was increased 13 times since March 2010 with a view to reining in high inflation. Deposits rose to Rs 58.69 lakh crore as on 2 December 2011 as against Rs 49.89 lakh crore as of 3 December 2010 marking a growth of 17.6%. RBI raised key policy rates by 350 basis points through 13 hikes since March,2010 to curb inflation, which has been above the 9% mark since December 2010. The rate of price rise was 9.11% in November 2011. RBI had in its first quarterly monetary policy review for 2011-12 in July projected credit growth to be around 17-18% in 201112, as against the earlier estimation of 19%, while deposit growth had been pegged at 17%. During the financial year 2011 bank credit offtake increased by 21.5%, while deposits grew by only 15.5%. Economic growth slowed to a nine-quarter low of 6.9% in the July-September 2011. industrial growth also entered the negative trajectory in October and contracted by 5.1%.

Veteran Telugu Film Producer and Noted Lyricist MS Reddy died

Veteran Telugu film producer and noted lyricist MS Reddy passed away on 11 December 2011. He was popularly known as Mallemala. Reddy, during a career that spanned about 60 years, produced hit films like Ankusam, Talambralu, Ahuti, Baala Ramayanam, Ankusam, Ammoru, Agraham and the more recent Arundhati. Born on 15 August 1924 near Nellore, Sundara Rami Reddy was also known as Sahaja Kavi for his lyrical simplicity in penning poems. He penned more than 5000 lyrics and played a vital role in the shifting of the Telugu film industry from Chennai to Hyderabad. He worked with some of the industry's most popular heroes, including NTR Jr who made his debut in Baala Ramayanam, which Reddy made with 3000 child artistes. The film had bagged the Best Children's Film Award. He portrayed the role of chief minister in one of his films, Ankusam. Reddy also served as president of the Telugu Film Producers Council, South Indian Film Writers Association, Film Nagar Cooperative Housing Society and chairman of AP Film Development Corporation.

SEBI directed Intermediaries not to Outsource their Core Business Activities

Market regulator SEBI on 15 December 2011 directed intermediaries not to outsource their core business activities and compliance functions.

According to SEBI, core business activities may include execution of orders and monitoring of trading activities of clients in case of stock brokers, dematerialisation of securities in case of depositary participants, investment-related activities in case of mutual funds and portfolio managers. Intermediaries would be responsible for reporting any suspicious transactions to the Financial Intelligence Unit or other competent authority in respect of activities carried out by the third parties.

Government agreed to give 10 Percent of the Group B Posts in Paramilitary Forces to ex-servicemen
The Union Ministry of Home Affairs agreed to fill 10% of the Group B posts in Central Paramilitary Forces from among ExServicemen. Presently, the scheme caters to 38 lakh beneficiaries including 12 lakhEx-Servicemen and over 26 lakh dependents. This scheme is currently being implemented through 247 polyclinics. Initially, 227 polyclinics had been approved by the Union Cabinet of India. Later, in 2008 another 199 polyclinics were sanctioned, out of which 20 are functional and 179 polyclinics are in various stages of implementation. During the year 2010-11, a total of 89 lakh patients attended the polyclinics. With the commissioning of all the sanctioned polyclinics, the entire fraternity of Ex-Servicemen would be covered comprehensively.

Tamil Nadu Assembly passed the Resolution on Mullaperiyar Dam

The special session of Tamil Nadu Assembly on 15 December 2011 passed the resolution, which seeks immediate deployment of the Central Industrial Security Force at the vicinity of the Mullaperiyar dam. It also states that Kerala Government should bring in necessary amendments in the Kerala Irrigation and water protection Act passed in 2006 and accept the Supreme Courts order to increase the water level to 142 ft. The resolution also stated that it should allow Tamilnadu to continue the strengthening work at the Dam so that the water level is raised to 152 ft. The Assembly also resolved to unanimously sustain the rights of Tamilnadu on the issue.

The UN Security Council lifted Sanctions on Libyas Central Bank

The UN Security Council on 16 December 2011 lifted sanctions on Libya's central bank and the country's foreign investments banks. The move is aimed at easing the current cash crisis in Libya. The United States has also lifted most of the sanctions against Tripoli. The Libyan banks' assets abroad were frozen in early 2011 as part of sanctions against former Libyan leader Col. Muammer Gaddafi. The USA rolled back most sanctions on the government of Libya to keep its commitment to the Libyan people.

OPEC decided to increase its Production Limits to 30 million Barrels a Day

OPEC, (The Organisation of the Petroleum Exporting Countries) in its summit held in Vienna, on 14 December 2011 decided to increase its production ceiling to 30 million barrels a day, which is the first change in three years. Earlier, the production output was 24.88 million barrels per day. OPEC agreed to the new limit but it won't set individual quotas for each member country. OPEC is increasing its quota to match up actual production. The last OPEC summit in June failed to reach consensus when six members including Iran and Venezuela opposed the idea to pump more oil by Saudi Arabia and three other Gulf countries, who increased their oil production to make up for Libyan exports which was stopped following the civil war. OPEC will need to produce 30.1 million barrels a day in 2012 to balance world supply and demand of oil.

OPEC is an organisation of twelve oil-exporting countries consisting of Iran, Iraq, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, Nigeria, Angola, Venezuela, Libya, Algeria and Ecuador. The organisation has its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its member nations.

SEBIs Committee on MF recommended Break Down of the Expense Ratio Bifurcation

A committee on mutual funds, constituted by SEBI in December 2011 recommended to the regulators board to break down the bifurcation within the fee structure known as expense ratio. According to the committee the measure will allow mutual funds to manage their expenses better and possibly improve their profits. In the absence of bifurcations within the expense ratio, fund houses will try to reduce recurring expenses which, in turn, will increase their profitability. Currently mutual funds are allowed to charge up to 2.25% as expense ratio. Of the 2.25% charged as expense ratio, fund houses are allowed to accept only 1.25% as asset management charges. The remaining 1% has to be mandatorily used to meet recurring expenses, which include payment of annual trail fees, auditor & registrar charges and dealing charges to empanelled brokers. Funds with large corpuses currently charge 1.75% as expenses charges. There exists scope for these funds to charge lower expense ratios. The SEBI panel also suggested that mutual funds, with higher assets under management, will have to bring down their expense ratio proportionately. SEBI was suggested to keep overall scheme expenses unchanged at 2.25% for schemes with assets under management not exceeding Rs 400 crore. Panel members aslo proposed an alternative slab system, which will bring down expense ratio with a proportionate increase in the asset base of the fund. There will be no change in expense ratios of debt funds. The panel suggested SEBI to come out with wider slab limits which bring down expenses on large funds even further. Expense ratio is more than important in debt schemes where the rate of return is not high. In the case of equity funds, the expense ratio becomes critical in times of lacklustre markets.

World's Largest Coal Miner CILs Board approved Acquisition of Stakes in Overseas Unlisted Firms
The world's largest coal miner Coal India Ltd (CIL's) board on 14 December 2011 approved a proposal to acquire stakes in unlisted firms overseas, provided the offers were valid. The proposal was approved in the wake of Finance Ministrys approval for the public sector firm to proceed with its plan to acquire unlisted firms overseas. CIL plans to take up three offers - in Australia, Indonesia and the US. The PSU put together a war-chest of Rs.6,000 crore for acquisition of mines. b CIL sought clarifications from the Finance Ministry before entering into discussions with owners, having received proposals offering an IRR between 9 percent and 12 percent. CIL had request for a relaxation in the PSU guidelines stipulating a minimum 12 percent internal rate of return (IRR) on investments. In response to the request, the Finance Ministry mentioned that CIL could proceed with such proposals, if they are of strategic nature, and subject to government clearance. CIL also sought to sidestep the rule that only the mines of listed companies should be acquired, which was permitted by the Finance Ministry.

RBI announced Non-direct Intervention Measures in the Wake of Rupee Depreciation

The Reserve Bank of India announced non-direct intervention measures in the wake of steady weakening of the rupee against the dollar. The non-direct intervention measures are aimed at curbing speculative positions in the foreign exchange market. Re-booking cancelled forward contracts, whatever the type and tenor of the underlying exposure, by resident and foreign institutional investors has been disallowed. Forward contracts booked to hedge current account transactions regardless of the tenor were allowed to be cancelled and rebooked. Such facility was also available to hedge capital account transactions that were falling due within one year. The apex bank through the new measures made it clear that forward contracts once cancelled cannot be rebooked. The central bank also modified the currency risk hedging norms for importers and exporters. Importers were earlier allowed to hedge currency risk on the basis of a declaration of an exposure based on past performance up to the average of the previous three financial years' actual import/export turnover or the previous year's import/export turnover, whichever is higher. Also, contracts booked in excess of 75 per cent of the eligible limit were to be on a deliverable basis and could not be cancelled. The apex bank revised these norms. As a result of the revision the earlier 75 per cent facility stands reduced to 25 per cent of the limit as compounded by above for importers who avail themselves of the past performance facility. If importers have already used up in excess of the revised or reduced facility, they will not be allowed further bookings. the RBI also specified that this facility will be available on fully deliverable basis only. The RBI reduced the net overnight open position limit (NOOPL) of authorised dealers across the board with an objective to prevent speculations in the foreign exchange market. It asserted that the intra-day open position/ daylight limit of authorised dealers should not exceed the RBI-approved NOOPL.

The apex bank indicated that these arrangements would be reviewed periodically in line with the evolving market conditions.

India paid Tribute to its Martyred Soldiers on the 40th Anniversary of Vijay Diwas
The 40th anniversary of vijay diwas was celebrated on 16 December 2011 marking the finest hour of the Indian armed forces when they defeated Pakistan, leading to the creation of Bangladesh in 1971. The Pakistani Army had surrendered on this day and Bangladesh was liberated after a 13 day-long battle. 90000 Pakistani troops had surrendered tothe Indian Army along with their top commanders in East Pakistan. Dhaka, the then capital of East Pakistan, fell to the Indian forces on 16 December 1971. Lt. Gen. A K Niazi, commanding the Pakistani troops in the eastern sector, surrendered to the Indian Armed Forces led by the then General Officer Commanding-inChief Lt. Gen. Jagjit Singh Aurora. Niazi also signed the Instrument of Surrender that resulted in the birth of Bangladesh. India paid tribute to its martyred soldiers, on the occasion of the 40th anniversary of its victory over Pakistan in the 1971 war that resulted in the liberation of East Pakistan now called Bangladesh. Number of soldiers and officers on the Indian and Bangladeshi sides were awarded the highest gallantry award of their respective countries. While the Indian Army was awarded three Param Vir Chakras, the Indian Air Force earned its sole PVC following the daring act of Flying Officer Nirmal Jit Singh Sekhon who single-handedly thwarted a Pakistani Air Force attack on Srinagar. Except Major Hoshiyar Singh who retired as Brigadier later on, all the awards were given posthumously.

Food Inflation fell to Four-year Low at 4.35 % for the Week ended 3 December 2011
Food inflation fell to nearly a four-year low at 4.35 per cent for the week ended 3 December 2012 due to significant fall in prices of wheat and vegetable owing to seasonal factors. Onions became cheaper by 46.03 per cent year-on-year during the week under review, while potato prices were down by 33.28 per cent. While vegetables, on the whole turned cheaper by 12.28 per cent, prices of kitchen staples such as onions and potatoes slumped by 46.03 per cent and 33.28 per cent on a year-on-year basis. What prices also eased by 4.43 per cent. The WPI (wholesale price index) food inflation moderated from 6.6 per cent in the week ended 26 November. food inflation was at 10.78 per cent in the same week of 2010. However headline inflation in November 2011 remained unacceptably high at 9.11 per cent. Chief Economic Advisor Kaushik Basu, who chairs the Inter-Ministerial Group (IMG) on tackling the price spiral, reiterated that food inflation would go down to 3 per cent by early January 2012 as the slew of policy measures had begun to show effect. The food inflation for the week ended 3 December 2011 was the lowest since the week ended 23 February 2008, when it was 4.28 per cent.

Former French President Jacques Chirac convicted on Graft Charges

A French court sentenced former French President Jacques Chirac to a two-year suspended jail term following his conviction on graft charges. He was held guilty for misappropriation of public funds and embezzlement. This is the first time a French Head of State has been convicted since the trial in 1945 of Marshal Philippe Petain who collaborated with the Nazis. He is the first former or serving president of modern France to be tried, although Nazi-era collaborationist leader Philippe Petain was convicted of treason and king Louis XVI was sent to the guillotine by revolutionaries in 1793. Chirac who suffers from neurological problems and is in poor health was not present in the courtroom. served two consecutive terms as President from 1995 to 2007. Chirac's crimes date back to the 1990s when, as Mayor of Paris, he placed several of his party men and women on the public payroll in what has been described as phantom jobs. Chirac's case took years to come to court because as President he was immune to prosecution. He was found guilty of influence peddling, breach of trust and embezzlement between 1990 and 1995. Chirac's criminal conduct had cost Paris taxpayers the equivalent of 1.4 million euros ($1.8 million). He breached the duty of trust that weighs on public officials charged with caring for public funds or property, in contempt of the general interest of Parisians.

Time Magazine named The Protester as Person of the Year for 2011
The Protester was named Time magazines 2011 Person of the Year on 14 December 2011. Time defines the Person of the Year as someone who, for better or for worse, influenthat individual action can bring collective, colossal change. 2011 witnessed unprecedented rise in both peaceful and sometimes violent unrest and dissent from the Arab Spring to the Occupy Wall Street movement. People across the globe in Tunisia, in Egypt, in Libya dissented and demanded even when they were answered with tear gas or a hail of bullets. The Mideast was the centerpiece of the years protests. US Special Operations Command and overall commander of the secret US mission into Pakistan in May 2011 that killed Osama bin Laden, came in at second place on the Time list. Chinese dissident artist Ai Weiwei came in at No 3. Rep. Paul Ryan, who put forth a plan to tackle Americas burgeoning national debt stoof fourth. Britains Duchess of Cambridge, Kate Middleton, who married Prince William finshed fifth. In 2010, Facebook founder and CEO Mark Zuckerberg got wa named the Person of the Year. Time Magazine mentioned that Turkish Prime Minister Recep Tayyip Erdogan was the People's Choice for the Person of the Year. In an online poll, Erdogan received 123000 votes nominating him as the most influential person of the year significantly more than any other nominee. History Time picked its first person of the year in 1927 with Charles Lindberg, who put aviation on the map. Person of the Year was then called Man of the Year. Since 1927, Time Magazine has chosen has chosen the good, Mohandas Gandhi in 1930 and the bad, Adolf Hitler in 1938as the Person of the Year. Responding to the Cold War, the magazine praised Hungarian freedom fighters in 1958. For the honour it had also chosen Baby Boomers in 1966 and Middle America in 1969.

Sangita Kalanidhi M.S. Subbulakshmi Award presented to Trichy Sankaran

S.R. Nathan, former President of the Republic of Singaporepresented the Sangita Kalanidhi M.S. Subbulakshmi Award to Sangita Kalanidhi-elect Trichy Sankaran at the inauguration of the 85th annual conference of the Music Academy in Chennai on 15 December 2011. S.R. Nathan also inaugurated the 85th annual conference of the Music Academy. On the occassion the second volume of the Sangita Sampradaya Pradarsini was launched. The Music Academy and the Singapore Indian Fine Arts Society (SIFAS) exchanged a memorandum of understanding on education and training in Carnatic music, drafting of syllabus and training of teachers during the inaugral ceremony. The Music Academy pioneered the Margazhi music festival in Chennai, which had evolved into a wondrous phenomenon that greatly enriched the cultural underpinning of the city over the last eight decades. The festival remains unparalleled for its sheer size, aesthetics, quality and undiluted classicism. Trichy Sankaran Trichy Sankaran is the mridangam maestro and flag-bearer of the Pudukottai' percussive tradition. Trichy is 2011s designate for the Academy's Sangita Kalanidhi. Trichy Sankaran, who is based in Toronto became the first recipient of the Sangita Kalanidhi title in the Pudukkottai parampara of his guru Palani Subramania Pillai. Sangita Kalanidhi M.S. Subbulakshmi Award has been instituted by The Hindu. The award carries a cash prize of Rs. 1 lakh.

Communications & IT Minister Kapil Sibal chaired Meeting on Citizen Engagement through Social Media
Communications and IT Minister Kapil Sibal on 15 December 2011 sought help from social networking websites and Internet companies in propagating government's various e-governance initiatives. The objective is to make people more aware of the online environment. Sibal chaired a meeting Citizen engagement and use of social media attended by functionaries of all leading Internet companies including Google, Facebook and Twitter besides other stakeholders. The meeting was organised on 15 December to discuss how the social media could empower the government, since under the normal processes of governance only limited dialogue with the representatives of society is possible. The Internet companies were asked to give their opinions on how to use social media and egovernance to empower citizens. The objective of using the internet to improve citizen engagement in policy formulation and implementation of its projects and programmes was highlighted. Minister of State for Communications and IT Sachin Pilot specified that there was no plan to formulate a mechanism to regulate Internet content. Pilot however, pointed out that the government was committed to protecting privacy and identity of individuals besides addressing security concerns about data, including personal data. On the occasion it was reiterated that there was no question of censoring Internet content

India signed Loan Agreement with ADB under HP Clean Energy Transmission Investment
The Government of India and the Asian Development Bank (ADB) on 15 December 2011 signed an agreement for the first tranche (113 million US dollars) under the 350 million US dollars Himachal Pradesh Clean Energy Transmission Investment Programme, which is a multi-tranche financing facility. The total estimated investment cost of the programme is 437.85 million US dollars which includes financing of 87.85 million US dollars by the state govt. of Himachal Pradesh. The programme is for the upgradation of transmission system to help Himachal Pradesh take greater advantage of its vast hydropower resources. It will help expand the supply of power to industry, commerce and households, within and outside the state, and thereby contribute to job creation and poverty reduction. ADBs loan has a 25-year term including grace period of five years and interest determined in accordance with ADBs LIBORbased lending facility. HP Power Transmission Corporation Ltd. will implement the programme, which is expected to be completed in December, 2017. Himachal Pradesh, a small mountainous state with five major rivers, has about a quarter of Indias total hydropower generation potential. It wants to scale up generation, but its transmission facilities in certain locations are currently unable to handle large amounts of additional power.

The Himachal Pradesh Cabinet approved Amendment to the State Industrial Policy
The Himachal Pradesh government on 15 December 2011 decided to amend the industrial policy of the state to make it more environment friendly. The amended industrial policy seeks to promote environmentally sustainable development in the state and encourage cleaner production and adoption. Under this policy, disincentive industries will be put on negative list and public disclosure of pollution status at the unit and cluster will be promoted.

The US Military Officially ended its Mission in Iraq

The US military officially ended its mission in Iraq on 15 December 2011. As per Pentagon statistics, approximately 4487 US soldiers lost their lives in Iraq war, with another 32226 Americans wounded in action. Despite the official declaration of ending its mission in Iraq, US military still has two bases in Iraq and 4000 troops. While in 2007, there were 505 bases and more than 170000 troops. However, these two military bases will be closed and the final US troops will be withdrawn by 31 December 2011.

NASA developed Space Harpoon to take Samples from Comets

NASA(National Aeronautics and Space Administration) built a prototype capable of launching test harpoon tips across a distance of a mile (1.6km). It would be safer to collect comet material using the space harpoon before landing on the celestial bodies. The samples thus collected will help reveal the origins of the planets and how life was created on Earth. NASAs Stardust mission had recovered particle samples in 2002. These samples included an amino acid, glycine, which is used by living organisms to create proteins. It endorsed the fact that some of lifes ingredients had formed in space and were delivered to Earth by meteorite and comet impacts. A comet is an icy small Solar System body that, when close enough to the Sun, displays a visible coma and sometimes a tail.

Parliamentary Committee rejected Proposal to allow 49% Foreign Direct Investment in Insurance Sector
A parliamentary committee on 13 December 2011 rejected almost all the key changes proposed in the Insurance Laws (Amendment) Bill 2008, including the key reform to allow 49% foreign direct investment in the sector. The the Insurance Laws (Amendment) Bill was introduced in the Rajya Sabha in December 2008 to bring about improvement and revision of laws pertaining to the insurance sector in the changed scenario of private sector participation and was subsequently referred to the standing committee. The panel headed by BJP leader and former Finance Minister (during NDA regime) Yashwant Sinha maintained that the move to hike the FDI cap in the insurance sector might not have the desired effect and could expose the economy to global vulnerability. The standing panel pointed out in its report that the proposal to increase the FDI cap to 49 per cent in insurance companies appeared to have been decided upon without any sound and objective analysis of the status of the insurance sector following liberalisation. The commitee asserted that the suggested policy stance of enabling a greater role for foreign capital in the insurance sector, may not necessarily have the desired impact. Increased role of foreign capital it was feared would lead to the possibility of exposing the economy to the vulnerabilities of the global market, flight of capital outside the country and also endanger the interest of the policy holders. While opening up the insurance sector to foreign investment in 1999, Parliament was given an assurance that the statutory prescriptions as also the foreign investment regulations would ensure that the cap of 26 per cent on foreign equity participation in insurance companies would not be breached. The panel maintained that the scope effectively tapping the alternative domestic market route for meeting the capital requirements of the sector was not seriously assessed. The committee noted that stipulating the capital requirement of insurance businesses is a policy measure which may have implications on the share-holding pattern of the insurer and hence needs to be considered by Parliament.

The government's move was also opposed by both insurance regulator IRDA and GIPSA on grounds that that foreign insurers would be at an advantage over their domestic counterparts in the matter of regulations. Health insurance business The panel also rejected the proposal to halve the minimum paid up capital required to start exclusive health insurance business to Rs 50 crore. The committee mentioned that the amount may be inadequate as an insurance company needs to be fully equipped with modern infrastructure and other facilities. Another proposal to empower the insurance companies to appoint agents and do away with the system of licensing of agents by the regulator, IRDA, was rejected. The panel maintained the measure is inappropriate and fraught with the danger of leading to ineffective regulation of the profession, particularly in instances of unscrupulous act on the part of the agents as also insurance companies. In its report, the panel suggested the insurance regulator, IRDA, to play a pro-active role towards evolving a common procedure for availing cashless facility and standardising the rates and charges for different hospital procedures, treatment guidelines, forms and formats for settlement of claims. Decision on SEZ The standing committee on finance rejected the proposal to allow unregistered foreign entities to operate in special economic zones, or SEZs. The proposal was rejected on grounds that it will place domestic capital at the risk of being taken out of the country and will be biased against Indian insurers. The committee observed that that foreign banks, which operate under the supervision of the RBI, are not allowed any special dispensation in SEZs.

Government waived Rs 3521 crore Loan of Handloom Weavers to help Revive the Handloom Sector
The government waived about Rs 3521 crore loan of handloom weavers in India to help revive the sector. Minister of State for Textiles Panabaka Lakshmi declared that the loan waiver is one of the components of the scheme of Revival, Reform and Restructuring Package for Handloom Sector. The governments initiative is likely to benefit 15000 handloom weaver's cooperative societies and approximately 3 lakh individual handloom weavers across India. Kerala topped the list with Rs 557.16 crore loan waiver, followed by Tamil Nadu with Rs 548.35 crore, Andhra Pradesh Rs 506.64 crore and West Bengal Rs 420.66 crore. All viable and potentially viable primary weavers cooperative societies and state level apex societies would benefit under the scheme. The individual handloom weavers, weaver entrepreneurs, self-help groups and joint liability groups, who have taken loans for handloom weaving purposes would also be covered under the scheme. There would be an overall ceiling of Rs.50000 to write off for individual beneficiaries.

Journalist-author Mark Tullys Book- Non-Stop India released in Chennai

Non-Stop India: Mark Tully The book Non-Stop India by journalist-author Mark Tully was launched in Chennai by Editor-in-Chief of The Hindu, N Ram on 13 December 2011. The book was published jointly by Penguin Books India and Madras Book Club. Tully, who also authored No Full Stops in India mentioned on the occasion of the launch that he had extensively covered India over the last 20 years. The book talked of the visit of the writer who has travelled across the length and breadth of the counrty which include visiting Maoists-hit areas, problems faced by Dalits. The book had also mentioned about the growth of Tata Group and its Chairman Ratan Tata. Mark Tully cautioned in his book that excessive secularism was a danger to a country like India and added that both secularism and communalism were used as political weapons.

Coal Ministry decided to Bar Captive Coal Miners from Raising Production Beyond Approved Level
The coal ministry decided to bar captive coal miners from raising production beyond the approved level, rejecting industry demands and the proposal from the Planning Commission to allow excess output to ease fuel scarcity. The coal ministry prepared a policy, under the policy, surplus coal should be sold to state-run Coal India Ltd at price lower than production cost. According to the ministry, the Coal Mines Nationalisation Act of 1973 allows coal from captive block to be used exclusively for specified end use project and production of surplus coal should not be allowed to result in any undue advantage to captive block owner. The policy said coal so transferred to Coal India Ltd should disposed by e-auction. The government is believed to be concerned about misuse of diversion of excess coal to other projects. Of 193 coal blocks allotted over 18 years to companies for captive use, only 28 are in production. Against a target of more than 90 million tonnes, only 38 million tonnes is being mined out from these mines. In this context it is worthwhile to mention that the CAG has questioned a special dispensation to Reliance Power to use excess coal from mines attached to Sasan ultra mega project in another private power project. The matter has been referred to Attorney General for opinion. Coal deficit in India is likely to grow to 137 million tonnes by end of fiscal 2011-12. Due to domestic coal shortage, power projects commissioned after March 2009 are operating at sub-optimal capacity.

Official Journey to Makkah Opus representing the Incredible Journey of Hajj Pilgrimage unveiled

A book titled The Official Journey to Makkah Opus was unveiled on 14 December 2011 by Prince Turki Bin Faisal Al Saud of Saudi Arab at pre-launch function in New Delhi. The book is scheduled to be formally launched in 2012. Prince Turki Bin Faisal Al Saud is a member of the Saudi royal family and founder of the King Faisal Centre for Research and Islamic Studies, which has provided active support and advice for the publication of the Makkah Opus. The book is bound by hand in the finest leather and contained in a silk covered clamshell case. The book is being published by the Opus Media Group, luxury publisher of premium large format books. The India edition, priced at a whopiing $40000-50000, would be limited to 100 copies and will be exhibited in different cities of the country in March 2012. The Description of the Book The book has been described as a compendium of finest scholarly writing, and both historical and specially commissioned art and photography. It is believed to faithfully represent the incredible journey of Hajj pilgrimage world-over. The book is a limited edition volume which contains 100000 words both in Arabic and English with the support of 2000 photographs, most of which have been specially commissioned. A striking feature of the book is the two meters long gatefold pictures. The book has also been compiled with a view to make it an educational tool for those who follow and are interested in the Islamic faith. The book includes interviews, profile, photography and features, including contributions from eminent Islamic scholars and Islamic VVIPs across the world.

Indian Drugmakers posted 21% month-on-month Growth in Sales of November 2011

According to data from research body All India Organisation of Chemists and Druggists (AIOCD), domestic drugmakers posted sales of Rs 4912 crore in November 2011 compared with Rs 4668 crore in October. Indian drugmakers posted 21% month-on-month growth in sales of November 2011 which was the highest in the past 14 months. The growth in sales was driven by an increase in demand for respiratory anti-infective drugs. Ameesh Masurekar, director, AIOCD however is of the opinion that revenue growth would fall 14-15% once the seasonal demand for viral and bacterial infection drugs came down. Analysts opined that the November sales numbers would improve pharma companies revenues for the October-December quarter at a time when most drugmakers are expected to post mark-to-market loss due to rupee depreciation. The top 20 drug companies registered a double-digit growth, AIOCD data showed. McLeods Pharma, which has been growing consistently month-on-month, recorded the highest growth in sales. the drugmaker surpassed Dr Reddys in total sales within four-five months.

NRI Industrialist Lord Swraj Paul conferred with the Life Time Achievement Award
Lord Swraj Paul, leading NRI industrialist was conferred with the Life Time Achievement award for his outstanding contributions in various fields. The award, instituted by an Indian company Powerbrands, was presented to Lord Paul on 12 December 2011 by Subrata Roy, chief of the Sahara Group. Lord Paul, Chairman of the Caparo Group, dedicated the award to the ordinary people of India who he fells have little, but never complains. Philanthropist and Labour politician, Lord Paul is the chancellor of the University of Wolverhampton and the University of Westminster. Paul was awarded the Padma Bhushan by the Government of India in 1983. He was elevated to the British Peerage in 1996. Raghupati Singhania of J K Tyres was earlier given the Powerbrands Hall of Fame Award.

CRISIL Researchs Report estimated Profitability of Textile Companies to Improve

CRISIL Research released its report on profitability of textile companies on 14 December 2011. According to the research firm, profitability of cotton yarn and man-made fibre (MMF) players are expected to improve over the next few quarters on account of decline in input costs and moderate demand growth. During the first quarter of 2011-12, the textiles companies witnessed severe profitability pressures which led to significant erosion in their market capitalisation. cotton yarn and MMF players have registered a negative return of 48% and 37%, respectively in the past one year. CRISIL Research opined that the current valuation of players discounts the current negative sentiments around the sector and offers good scope for upside. Also, stocks of ready-made garment (RMG) companies are fairly priced in spite of being at historical highs, as they offer relatively high and stable returns among the textile companies during the present uncertain times. The stocks of branded RMG companies have out-performed the S&P CNX NIFTY significantly and posted 25% return on a oneyear basis. The slow-down in demand in both domestic and export markets and the anticipation of a spurt in global cotton production resulted in sharp correction in cotton and yarn prices in the first half of 2011-12. This resulted in cotton yarn players reporting losses in the same period as they were carrying high cost cotton inventory from the last season. However, the sharp drop in cotton yarn prices also enhanced its price competitiveness vis-a-vis polyester (a substitute for cotton) thereby limiting the flexibility of MMF players to pass on the hike in the costs of their inputs, which are derivatives of crude oil. CRISIL Research covered seven textile stocks Nahar Spinning Mills and Maharaja Shree Umaid Mills in the cotton yarn segment, JBF Industries , Sangam (India) , Alok Industries and Shri Lakshmi Cotsyn in the MMF segment, Kewal Kiran in the RMG space. Of these, most companies have a valuation grade of 5/5, indicating that these stocks have a strong upside (more than 25%).

The existing scenerio India, the world's second-largest textile supplier, had this year set a target to increase its textile and garment exports to USD 33 billion. The textiles industry has a bank loan of over Rs one trillion and most companies have reportedly started defaulting on their payments to banks as a massive spike in raw material prices and a steep fall in demand have eaten into their margins. Cotton yarn production is down 15 percent and fabric output 19 percent during the April-October period from a year earlier, shooting up prices.

Maharashtra Government announced a Package of Two Thousand crore for the distressed farmers
The Maharashtra government announced a package of two thousand crore for the distressed cotton, soya and paddy growers mainly belonging to the Vidarbha, Marathwada and Khandesh regions of the state. The fiscal package would cover all the cotton farmers and only those soya and paddy growers, who suffered crop losses of more than 25 per cent. It would cover a total area of 85 lakh hectares, including 40 lakh hectares of cotton, 30 lakh hectares of soya and 15 lakh hectares of paddy cultivation. The aid would be given on per hectare basis and the particulars of the said amount in respect of each crop would be made known later during the current session.

Lok Sabha passed a Bill to amend the Cable Television Networks Regulation Act
The Lok Sabha on 13 December 2011 unanimously passed a Bill to further amend theCable Television Networks Regulation Act, 1995. It replaces a Presidential Ordinance of 25 October, 2011. As per the amendments, there will be a check on objectionable contents. Doordarshan will be able to provide more free-on-air channels in the DTH mode to audiences across the country. Cable TV operators violating the provisions of the Bill will face penalty. The legislation will reduce dependence on the television rating points, TRP. By 2014, the entire cable network will be digitized. Those Cable operators who will violate the Cable Television Network Regulation Act,1995 Government will have the right to consider about the continuity of the Licence of those cable operators. Till date, this kind of provision was not in existence in the form of Act.

Canada barred Veiled Women from taking Oath of Citizenship

The Government of Canada announced on 12 December 2011 that women who aspire for Canadian citizenship cant wear burqa or Islamic hijab when they take oath of citizenship. Belgium, France, Australia and Netherlands have also banned women from covering their face in public.

The government received complaints from lawmakers and judges that they found it difficult to know whether women who masked their faces were actually reciting the oath or not.

Hydrogel developed by Researchers that Regenerated Healthy Tissue on Damaged Skin

Scientists developed a hydrogel that regenerated healthy and scar-free tissue on skin damaged by severe burns. The hydrogel helps in formatting of new blood vessels and skin including hair follicles. The injured soldiers, fire victims and people with third degree burns can avail of the gel. Third-degree burns typically destroy the top layers of skin down to the muscle. The treatment involves, dressing up the wound, which includes hydrogel and 3D framework of polymers.

The Tunisian National Assembly elected Moncef Marzouki as New President of the Country
The National Constituent Assembly (ANC) of Tunisia elected the leader of the party, Council for the Republic (CPR), Moncef Marzouki as the new President of Tunisia on 12 December 2011. He became Tunisia's first elected president since the North African country's revolution sparked the Arab Spring. He was a leader of the centre-left Congress for the Republic party. Marzouki became interim president with 153 out of 217 votes in the assembly, with three voting against, two abstentions and 44 blank ballots cast as a protest vote by some members. Marzoukis appointment followed an animated debate within the Constituent Assembly focused on the formation of Tunisias provisional constitution. He had the support of his group and the other two major forces in the Tunisian Assembly, the Nahda Islamic Movement and the Atakatol party. Marzoukis long political life is noted for his activism as a defender of human rights. He was born in the Tunisian region of Grommbalia. He was graduated in medicine from the University of Strasbourg in 1973 and taught at the Tunisian University of Susa from 1981 to 2000. In politics, Marzouki was renowned to present its candidature for the presidential elections of 20 March 1994. Marzouki published at least 16 books in Arabic and four in French on community medicine, human rights and democracy in the Arab-Muslim countries.

Ahmedabad Emerged as the Best City in India in the implementation of BSUP

In an exclusive opinion poll conducted for The Times of India, Ahmedabad emerged as the best among Indias mega-cities, edging out Pune, Mumbai and Delhi. This finding was done by an exclusive opinion poll conducted for The Times of India by leading market research firm, IMRB. The survey was on quality of life in India. Ahmedabad bagged the national award on 13 December 2011, in the category of Best

City in the Implementation of Basic Services to Urban Poor (BSUP) under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme.

Supreme Court:Water Level in Mullaperiyar Dam should not exceed 136 Feet
The Supreme Court of India directed Tamil Nadu to ensure that the water level in the Mullaperiyar dam does not exceed 136 feet but declined to entertain Keralas plea for reducing the level to 120 feet. A five-Judge Constitution Bench, headed by Justice DK Jain gave the order. The Supreme Court asked Tamil Nadu and Kerala to maintain restraint on their statements on the Mullaperiyar dam row. Urging for sanity and sensitivity, the court lamented that they were adding fuel to the fire instead of dousing it. The Bench also asked the Centre to clarify its position on Tamil Nadu's plea for deployment of Central Industrial Security Force to protect the dam from possible vandalism.

Indian Grandmaster Abhijeet Gupta won the London Chess Classics Open Section
Indian Grandmaster Abhijeet Gupta won the London Chess Classic's open section, with a hard-earned victory over Grandmaster Keith Arkell of England. Abhijeet, a former world junior champion and reigning national champion, scored eight points in all. The chess tournament was held from 3 December 2011 to 12 December 2011. Another Indian, International Master Sahaj Grover pulled himself to the second spot after defeating English Grandmaster Peter Wells in the final round of the event. Sahaj, who scored 7.5 points in all.

Losing Control from the Base a Sukhoi Su-30 MKI Fighter Aircraft Crashed
A Sukhoi Su-30 MKI fighter aircraft from the Lohegaon Air Force Station crashed on 13 December 2011 at a place near Wadebholai, 25 km away from the Pune city. The accident was explained as a mechanical failure. The plane lost contact with its base's Air Traffic Control. A Court of Inquiry was ordered into the incident. However, no casualties took place due to the accident. It was a routine training sortie. The Sukhoi belonged to the No 20 'Lightening' squadron and was the 8th IAF plane to crash in 2011. The IAF lost 30 fighter aircraft's, of which 10 were lost from 2009 to 2011.

The Cabinet Committee on Economic Affairs (CCEA) approved National Electricity Fund

The Cabinet Committee on Economic Affairs( CCEA) on 13 December 2011 approvednational electricity fund to provide subsidy of 8466 crore rupees for projects of electricity distribution sector for a period of 14 years. The fund will be operational within a period of six months to one year. The fund is being set up to provide interest subsidy on loans to be disbursed to the distribution companies both in the private and the public sector. The objective is to improve the distribution network for areas not covered by Rajiv Gandhi Gramin Vidyutikaran Yojna (RGGVY) and Restructured Accelerated Power Development and Reforms Programme (R-APDRP) project areas.

Lok Sabha approved the Amendments to the Petroleum and Minerals Pipeline Act
The Lok Sabha on 12 December 2011 passed the amendments to the Petroleum and Minerals Pipelines (Acquisition of Right of User in Land) Act, 1962. The Bill aims to make provisions for sufficient deterrence to criminals from committing the offence of pilferage or sabotage. The existing sub-section (2) of section 15 provides that whoever willfully removes, displaces, damages or destroys any pipeline, shall be punishable with rigorous imprisonment of a term which shall not be less than one year, but which may extend to three years and shall also be liable to fine. Section 16 provides that offence under sub-section 15 shall be deemed to be cognizable under the Cod of Criminal Procedure, 1973. The proposed amendments provide for higher quantum of punishment in terms of imprisonment and provision for death penalty in rare cases where the Act of sabotage is dangerous and is likely to cause death of any other person. The Bill further proposes to amend section 16 of the aforesaid Act to make the offences under sub-section (2), (3) of section 15 of the said Act to be cognizable and non-bailable. The amendment to the act was necessary to prevent pilferage of petroleum by organized gangs and saboteurs.

Scientists discovered the Mechanism Controlling the Fat in Human Body

Scientists made a key discovery about the mechanism controlling the fat in human body. It sheds new light on how proteins regulate appetite control and insulin secretion.This is the first time such a mechanism was described and it's unique, showing the importance of this protein to cellular function. CPT1 is the protein responsible for regulating fatty acid oxidation in the liver and is critical for metabolism. Its activity determines whether a person suffers from fatty liver in one case or ketosis in the other. The discovery will help in better understanding of why some people has a speedy metabolism and others struggle to control their appetite.This would be a major breakthrough in tackling the obesity crisis faced by humans.

Supreme Court directed State Governments to build Night Shelters for Homeless People
The Supreme Court directed state governments to build adequate number of night shelter to ensure that no homeless person has to sleep under sky this winter. A bench of justices Dalveer Bhandari and Justice Dipak Misra asked the governments to file their detailed report by 3 January 2012 on the status of night shelters, which are operating in their states. The bench, which passed separate orders for different states, asked the Chief Secretaries to ensure construction of sufficient number of shelters for the homeless and poor people.

Land Mine Technology to help Detect Breast Cancer in 8 Sec

Scientists claimed that now a simple test could diagnose breast cancer in women in eight seconds. They claim to have developed it from a technology that is used to detect land mines. The new screening tool, called MARIA, is safer and more comfortable than traditional mammogram X-rays. It can be used on women of any age, unlike current technology. Scientists already carried out three successful trials with 300 women at Frenchay and Southmead hospitals. They also claimed that results from the trials showed a diagnostic success rate of 80 per cent. MARIA stands for Multistatic Array processing for Radio wave Image Acquisition, is made from 60 antennas, which create a complete scan of the breast in eight seconds.

Lok Sabha passed the National Capital Territory of Delhi Laws (Special Provisions) Bill of 2011
The Lok Sabha on 12 December 2011 unanimously passed the National Capital Territory of Delhi Laws (Special Provisions) Bill of 2011, which granted a three-year term extension to the Master Plan of Delhi (MPD). It is meant to ensure continued implementation of all the ongoing schemes for its betterment. The revised master plan of Delhi will have a long-term vision of 25 years to address the problems specially faced by the weaker sections of the society. The government intends to implement the second phase of the Jawaharlal Nehru Urban Renewal Mission after its current phase is over. The objective of the bill is to prevent sealing and demolition of unauthorised structures in Delhi till 31 December, 2014. It seeks to maintain the status quo regarding unauthorised colonies, which includes storages, warehouses, and godowns for farm produce, village abadis (settlements)and their extensions. Commercial establishments in rural areas and urbanised villages of Delhi are expected to get a reprieve after the proposed bill is enacted.

India beat West Indies in the Fifth and Final Cricket One Day Match, won the Series 4-1
india beat West Indies by 34 runs to win the fifth and final cricket one-day match and recorded an emphatic 4-1 series triumph in Chennai on 11 December 2011. Electing to bat, India scored 267 runs with the loss of six wickets in the stipulated overs. Manoj Tiwary 104 and Virat Kohli 80 were the top scorers for India. In reply, West Indies reached as close as 233 in 44.1 overs. K. Pollard 119 and A Russel 53 were top scorers for West Indies. Darren Sammy was the captain of West Indies while Virender Sehwag was the captain of Indian side for this series. Gautam Gambhir was the standin captain for the last onedayer. Indias Manoj Tiwary was declared Man of The Match and Indian batsman Rohit Sharma got Man of the Series Award.

Manoj Tiwary and K. Pollard scored their international one day careers first centuries in this match. India and West Indies played this five-oneday match series from 29 November 2011 to 11 December 2011.

NATO announced the Withdrawal of its Iraqi Mission by the End of 2011
NATO on 11 December 2011 announced that it would withdraw its Iraq training mission by the end of 2011. The decision follows a nearly complete pullout of US troops from Iraq. Meanwhile, the Iraqi Prime Minister Nuri al-Malki left for the United States to hold talks on ties between the two countries after the withdrawal of the American military troops. The NATO had earlier agreed in principle to extend its stay till the end of beyond 2013. At present around 4,000 US troops are left in Iraq on four bases

The Government decided to Set up a Village Water and Sanitation Committee in each Gram Panchayat
The Government decided to set up a village water and sanitation committee in each Gram Panchayat, village and ward to ensure safe drinking water supply. The committee will be set up as a standing committee in each Gram Panchayat for planning, monitoring, implementation and maintenance of water supply schemes in the area with active participation of the villagers. The membership of the committee will consist of 6 to 12 persons comprising elected Panchayat members and at least 50 percent women with due representation to Scheduled castes and Tribes. The committee will be an integral part of the village panchayat. This initiative has been taken under the National Rural Drinking Water Programme to decentralize power and responsibilities and to give greater focus on water and sanitation issues.

British Scientists developed a Technology to Produce Pocket TV

British scientists recently developed a technology, which could be used to produce pocket TV. Scinetists developed a new form of light-emitting crystals, known as quantum dots. These dots can be used to produce ultra-thin televisions. The tiny crystals are 100000 times smaller than the width of human hair. This can be printed onto flexible plastic sheets (which can be rolled up) to produce a paper-thin display.

4th International Tax Dialogue was held on Tax and Inequality

The 4th International Tax Dialogue (ITD), a global conference on Tax and Inequality was inaugurated by the Finance Ministry of India from 7 December to 9 December 2011. Indian Finance Minister Pranab Mukherjee inaugurated the three-day Tax meet. More than 400 senior tax policymakers from almost 90 countries attended it including Deputy Managing Director of the International Monetary Fund Min Zhu, World Bank Vice President Otaviano Canuto, and Deputy Secretary General of the Organization for Economic Cooperation Development Rintaro Tamaki. The ITD is a joint initiative of various organisations working on tax issues the IMF, the OECD, the World Bank, the European Commission, the IADB, and CIAT. This conference provides an opportunity to address how taxation can be seen as a part of the solution to growing inequalities in income and wealth around the world. The use of plenary and parallel sessions, with active country participation, allows a peer dialogue between Ministers of Finance and Heads of Revenue Administration internationally. Issued discussed Design of growth-enhancing and equitable tax systems Administrative challenges, issues and solutions for fair tax systems Income taxes, progressivity and inequality across regions Informality, inequality and the role of the tax systems Gender friendly tax systems and inequality Taxation of elites and inequality

Fair tax systems: vital for state-building and an exit from aid dependency

Highlights More global cooperation is required to tackle black money in India: annual illicit capital outflows from emerging and developing economies has been estimated at $725-810 billion Direct Taxes Code (DTC) has been proposed in India: DTC seeks to replace the archaic Income Tax Act, 1961 and thereby Uruguay signed 7 new agreements providing for the exchange of tax information modernize the taxation regime. Its supposed to be implemented from 1 April 2012

Biggest Green Film Festival Held in Delhi, Themed Biodiversity Conservation

Green Film Festival was held in Delhi from 6 December to 10 December 2011. Leading environment and wildlife films from across the world were screened as part of the CMS Vatavaran film festival. Biodiversity Conservation was the theme of the festival. A total of 114 films were screened, taking viewers into the diverse geographical realms of planet Earth through the lens of the finest environment and wildlife film-makers. It was a summit for Asian film-makers, special programmes for children throughout the event and discussions on the environment with more than 50 speakers and 300 delegates from 15 different countries. It held an award ceremony for young environment journalists and film-makers also.

World Renowned Cartoonist, Mario Miranda Died in Goa

The world renowned cartoonist, Mario Miranda died in Goa on 11 December 2011. He was 85. He famously captured vignettes of Goan life on canvas in his trademark style for over two decades. Miranda was the recipient of the Padma Bhushan (2002) and Padma Shri (1988) awards. He started his career as a cartoonist for the Times of India Group in 1953 and later moved into illustration and fine art. His creations such as Miss Nimbupani and Miss Fonseca which appeared on a regular basis in Femina, Economic Times, and The Illustrated Weekly of India brought him fame. In his stint with the Times of India, Miranda worked with the noted cartoonist, R.K. Laxman. He has illustrated numerous books including Inside Goa by Manohar Malgonkar, A family in Goa and The Open Eyes by Dom Moraes. A recipient of many national and international awards, Miranda had held solo exhibitions in over 22 countries, including the United States, Japan, Brazil, Australia, Singapore, France, Yugoslavia, and Portugal. Books of Miranda Mirandas own books are Goa with Love, A little World of Humor, Sketch book, Germany in Wintertime, Impression of Paris and Mario de Miranda.

India Won Its 6th SAFF Championship Title Against Afghanistan

India won its 6th SAFF Championship title against the newcomer, Afghanistan on 11 December 2011. India's star striker Sunil Chhetri won all the individual awards in the tournament. India was a five time SAFF champion before it won the 2011 SAFF. The other participating nations in the 2011 South Asian Football Federation Championship (SAFF) were Afghanistan, Sri Lanka, Bhutan, Bangladesh, Maldives, Nepal and Pakistan.

Winner India received a prize purse of USD 50,000 while Afghanistan took home USD 25,000. In addition, All India Football Federation announced a cash award of Rs. 1 lakh for each player for winning the tournament.

Parliamentary Panel Recommended Constitutional Amendment to set up NJC

The Parliamentary panel on law and justice, headed by Abhishek Singhvi stated that the Constitution should be amended to set up a National Judicial Commission with powers to initiate criminal prosecution and sacking of corrupt judges. The concluded that judiciary cannot be left unpoliced in matters of corruption. The report prepared by the Parliamentary panel recommended setting up of a National Judicial Commission (NJC) to create a broad-based and comprehensive model of judges appointments. If necessary it should include amendments in the Constitution in the process of comprehensive model of judges appointment. The recommendations of the Parliamentary Panel The NJC has to be entrusted with powers of both transfer and criminal prosecution of judges for corruption. It may also be given the power for dismissal or removal of judges by relevant amendments in the constitution. The panel also recommended that the former judges working as chairpersons and members of tribunals should also be brought The panel stated that Judicial Accountability Bill is meant to strengthen the existing in-house procedure of the judiciary to

under the NJC. deal with wrong behaviour of judges. The Bar Council of India which is the apex regulator of the legal profession in India welcomed the panels recommendation. The report also explained the reasons for not bringing the judiciary under the Lokpal's purview as - if the judiciary was included, it would have resulted in possible and direct prosecution of even a Supreme Court judge before a magistrate. The same would have been applied to high court judges.

Laa Talar became U-15 National Sub-junior Badminton Champion

Laa Talar defeated Ansal Yadav of Uttar Pradesh to clinch the title of the 25th national sub-junior badminton championship on 8 December 2011. He is the first from North East India. It was the maiden National singles title for the lad from Itanagar, who had earlier won the under-16 boys' doubles title in the National championship. The tenth standard student trains at the Prakash Padukone Academy in Bangalore. It was the third title for Laa Talar as he had won two National ranking tournaments recently, including one at the expense of Ansal Yadav, who had stretched him to three games. The under-15 girls' title was captured by top-seed Ruthvika Shivani from Andhra Pradesh. She beat G. Vrushali.

The Senate of Brazil approved Legislation to Preserve Forests

The Senate of Brazil on 7 December 2011 approved the bill that reforms rules on the amount of land farmers must preserve as forest. Brazilian senators voted by 59 to seven to approve the legislation. The Key Features of the Bill The forest alongside rivers and lakes can be counted by farmers on their land as part of their conserved area. It reduces the total amount of land they need to safeguard or reforest. The bill allowed agriculture closer to environmentally fragile areas. The bill suspended fines for land cleared illegally before 2008 if farmers sign up to replant trees over the next 20 years.

Although Brazil needs land for food production, environmentalists warn of increased Amazon destruction. Latest data show tree clearance at its lowest since 1988. As per the data released, there had been an 11% drop in the amount of rainforest cleared between August 2010 and July 2011 compared with the year 2010.

Former Illinois Governor Blagojevich was sentenced to 14 years Imprisonment on Corruption Charges
Former Illinois Governor Rod Blagojevich was sentenced to 14 years in federal prison on 7 December 2011. He was arrested and charged with a wide-ranging corruption spree that included trying to auction off President Barack Obama's vacated Senate seat. Blagojevich, a onetime rising star in the Democratic Party whose public defense strategy included stints on reality TV, a media tour and a book. He was convicted over the course of two trials on 18 counts of corruption. His crimes included lying to the FBI, attempting to shake down a children's hospital for campaign contributions and seeking to secure campaign funds, a cabinet post or an endowment for a new foundation in exchange for the Senate seat vacated by Obama. Under federal guidelines, he is to serve 85% of his sentence, or around 12 years.

Defence Minister A.K. Antony ordered Probe into Controversial Rs. 500crore Contract
Defence Minister A.K. Antony on 8 December 2011 ordered a probe into reports that a key military intelligence unit's imagery intelligence gathering and analysis equipment is below par. The probe was ordered based on a revelation that possible corruption in the procurement of Rs. 500-crore worth of equipment had compromised its ability to use satellite images of enemy troop movements and assets.

According to reports, the Indian Army's imagery interpretation capabilities that are critical to provide information on enemy troops locations and military assets were compromised due to faulty procurement processes leading to critical software upgrades being denied to the unit by the contracted firm. The Army's image-analysis capabilities, which allow it to cull information of military relevance from satellite images, were hit by a controversial 2008 contract. The contract relieved the supplier, Rolta, of its responsibility of providing periodic upgrades of the software though the Army continued to pay crores of rupees to the company. The reports of a leading daily also claimed that the Indian company was being contracted again for a Rs.165-crore order for supply of software for which it does not hold licenses anymore. It was also established that the military officials involved in giving the contract to Rolta went on to work with the firm raising fears of conflict of interest.

Mobile Subscriber Base in India increased to 881.4 million by October 2011 from 873.61 million
According to the data released by the regulator TRAI on 8 December 2011, mobile subscriber base in India increased to 881.4 million by October 2011 from 873.61 million in September 2011 registering a growth of 0.89%. The overall teledensity (telephones per 100 people) in India reached 76.03%. Telecom operators added 7.79 million mobile subscribers in October 2011, taking the total number of telephone users in the country to 914.59 million. The number of active mobile subscribers, according to the visitor location register (VLR) data, during the month of was 626.18 million. VLR numbers provide details on active customers at any given point of time, excluding switched-off and out-of-thecoverage area customers. Performance by the telecom operators The growth in the wireless category was led by Uninor, which added 2.66 million new users, taking its subscriber base to 32.31 million by the end of October 2011. Tata Teleservices on the other hand lost 0.93 million and its subscriber base stood at 87.83 million. The countrys largest private operator Bharti Airtel added 0.94 million subscribers, taking its user base to 173.73 million. Vodafone added 0.92 million new customers to take its user base to 145.91 million. Idea Cellular and Aircel added 1.63 million and 0.48 million users, respectively, during the period. Idea's subscriber base stood at 101.81 million at the end of October 2011, while that of Aircel stood at 60.28 million. RCom (Reliance Communications) added 1.03 million new subscribers to take its user base to 148.11 million, while SSTL added 0.74 million new users to take its total userbase to 14.01 million. State-run telcos BSNL and MTNL added 0.40 million and 31788 new users in October. The subscriber base of BSNL stood at 96.19 million and 5.61 million, respectively. Mobile Number Portability (MNP)

As per TRAIs report, about 25.38 lakh subscribers submitted request for MNP in October 2011. Since the introduction of MNP in November 2010, about 231.66 lakh subscribers across India had submitted requests, till October, for changing their service providers while retaining their mobile numbers. In MNP Zone-I (Northern and Western India), maximum number of requests were received in Gujarat (22.39 lakh), followed by Maharashtra (19.10 lakh). In MNP Zone-II (Southern and Eastern India), maximum number of requests have been received in Andhra Pradesh (19.46 lakh) followed by Karnataka Service area (19.18 lakh). Broadband Wireline category subscriber base declined to 33.19 million in October from 33.31 million in September. Broadband subscription reached 12.98 million in the reported month from 12.84 million in September 2011.

Japan decided to impose a Fresh Round of Financial Sanctions against Iran

Japan announced on 9 December 2011 that it is imposing a fresh round of financial sanctions against Iran. Japan will freeze the assets of 106 organizations, one individual and three Iranian banks. More than 350 Iran-based entities are now subject to Japanese sanctions. However, the move will not restrict imports of Iranian crude oil, a step many Western nations have been urging. Resource-starved Japan relies on Iranian oil for 10 percent of its energy supply.

Pentagons DSCA Report ranked India Third Amongst the Largest Purchasers of US Arms
According to the Defence Security Cooperation Agency (DSCA) report, India emerged as the third largest purchaser of US arms with contracts worth $4.5 billion in the year ended 30 September 2011 as US weapons sales rose to $34.8 billion in fiscal 2011. Defence Security Cooperation Agency is the Pentagon agency that oversees foreign arms sales. Even though the US firms lost the bid for an estimated USD 10 billion contract for sale of 126 jets to Indian Air Force (IAF), India was listed as the third largest purchaser of US arms through the government to government channel Foreign Military Sales (FMS). American arms sales to India include Naval Reconnaissance planes, giant transporters, sea-skimming missiles and other weapon systems. According to the report government-to-government foreign military sales totalled $28.3 billion in fiscal 2011, while other sales managed by various government agencies reached $6.5 billion. The Pentagon had projected government-to-government sales would reach $36.3 billion for the year ending 30 September 2011. Afghanistan, Taiwan, India, Australia and Saudi Arabia emerged the top buyers of US arms.

Topping the list for the fiscal year 2011 ending 30 September 2011 were- the Afghan Security Forces ($5.4 billion); Taiwan (US $4.9 billion); India ($4.5 billion); Australia ($3.9 billion); Saudi Arabia ($3.5 billion); Iraq ($2.0 billion); the United Arab Emirates ($1.5 billion); Israel ($1.4 billion); Japan ($0.5 billion); and Sweden ($0.5 billion). The DSCA expected foreign military sales to continue to be about $30 billion for fiscal 2012. Australia with USD 3.9 billion was fourth on the list, followed by Saudi Arabia (USD 3.5 billion), Iraq (USD 2.0 billion), the UAE (USD 1.5 billion), Israel (USD 1.4 billion), Japan (USD 0.5 billion) and Sweden (USD 0.5 billion). US Foreign Military Sales passed the USD 30 billion mark for the fourth consecutive year, with the 2011 figure starting USD 34.8 billion.

CAG of India, Vinod Rai elected Chairman of the United Nations Panel of External Auditors
The Comptroller and Auditor General (CAG) of India, Vinod Rai was on 8 December 2011 elected chairman of the United Nations panel of external auditors. Rai succeeded Norbert Hauser, vice-president of Germany's Federal Court of Auditors as chairman of the United Nations panel of external auditors. As head of the panel, Rai will shoulder the responsibility of overseeing the external audit works and periodical reports on accounts and management of the UN and its specialised agencies. As chairman Rai will oversee the audit of the International Atomic Energy Agency (IAEA), besides setting audit agenda for all UN specialized agencies such as the World Health Organization (WHO), World Food Programme and the World Intellectual Property Organization. Jagbans Singh, director general in the office of the CAG, was elected chairman of the Technical Group of the UN panel. Much of the external auditors' work is determined by the technical group that is mandated to set specific topics of interest to be taken up for audit. The accounts and management operations of the UN, the specialized agencies (WHO, WFP, WIPO etc.) and the IAEA are required to be audited and reported periodically by independent external auditors, who are supreme audit institutions of various countries selected by the UN. Rai will give direction to the external auditors and will have a final say in preparation of the reports before they are placed to the UN General Assembly. The findings and recommendations of United Nations panel of external auditors are taken seriously, and the reports are closely monitored for effective implementation. United Nations panel of external auditors United Nations panel of external auditors was formed through a resolution by the General Assembly in 1959. The panel comprises individual external auditors who are the heads of supreme audit institutions of various countries. The panel members share experiences and methodologies on an ongoing basis to ensure uniformity of external audit practices throughout the United Nations system to the extent possible. Much of the panel's work is undertaken by the Technical Group, which is mandated to research and review specific topics of interest to the panel. The Technical Group has to report to the panel on the topics reviewed and its recommendations at regular meetings of the independent audit body.

Turkey announced a New Set of Sanctions against Syria

Turkey on 8 December 2011 announced a new set of sanctions against Syria. Turkey would impose 30 percent tax on goods coming from Syria. The move as a response to Damascus imposing 30 percent customs duty on goods imported from Turkey besides suspending the free trade agreement with Ankara. Turkey earlier announced a series of economic sanctions on Syria for its crackdown on anti-regime protests. These include an immediate ban on transactions with the Syrian Government and its central bank and freezing the Syrian government assets in Turkey. Turkey has also been seeking alternative routes to bypass Syria for trade with the Middle East. The Turkish government was considering three alternative routes through Egypts Alexandria, Lebanon and Iraq to bye pass Syria.

The Union Cabinet of India approved a Package of 8750 crore for West Bengal
The cabinet committee on economic affairs on 7 December 2011 approved the special package of 8750 crore for West Bengal from the Backward Area Grant Fund. The fund will be used for development of backward region in the state. The package is proposed to be implemented in the state's backward areas affected by naxalism, including Jungle Mahal area, which comprises West Midnapore, Purulia and Bankura. The package is expected to cover aspects like rural employment, safe drinking water, watershed and rural road construction. The state has been facing financial crunch as its debt stock, according to the state finances report of the Reserve Bank, was 1.9 lakh crore rupees. West Bengal had the highest fiscal deficit in 2010-11 among non-special category states, at 4.6 per cent of gross state domestic product (GSDP). Punjab at 3.6 per cent was ranked fifth and Kerala at 3.5 per cent was the sixth.

Food Inflation dropped to a Three-and-half-year-low of 6.6% for Week Ended 26 November 2011
As per the governement data released on 8 December 2011, food inflation dropped to almost a three-and-a-half-year-low of 6.6% for the week ended 26 November 2011. It is the lowest rate of food inflation, as measured by the Wholesale Price Index, since 9 August 2008, when it stood at 6.19 per cent. Food inflation stood at 8 per cent in the previous week ended 19 November 2011. The sharp fall in food inflation was attributed to good harvest that reduced vegetable prices further, thereby raising hopes that the stubborn inflation will finally ease. Food articles have a 14.3% weight in the wholesale price index. Vegetable prices were 1.25 per cent cheaper than twelve months earlier in December 2010 while cereals, milk, eggs, meat and fish grew dearer at a slower rate.

Food items were 0.97 per cent cheaper with vegetable prices 5.28 per cent lower. Potatoes were 15.75 per cent cheaper than in December 2010. Onions were 39.20 per cent cheaper as well after their prices fell 1.45 percentage points lower. Inflation for milk fell 0.39 percentage points to 11.02 per cent while the measure for eggs, meat and fish dropped 3.51 percentage points to 10.04 per cent. Inflation for rice shed 0.18 percentage points to 2.34 per cent while the measure for pulses dropped 0.8 percentage points to 13 per cent. Inflation rose for fruits. Fruit prices grew 2.74 percentage points faster than in the in the week ended 19 November 2011 at 10.72 per cent. Cereal prices were also 1.68 per cent higher, compared to 1.97 per cent in the previous week. Wheat prices gained 0.01 percentage points and were 4.71 per cent higher. Prime Ministers Economic Advisory Council (PMEAC) Chairman C Rangarajan was of the opinion that the fall in inflation figures reflected high vegetable prices after unseasonal rain in 2010 and their normal tendency to fall in the winter. The seasonal pattern of decline in prices helped to reduce inflation. Fruit and vegetables and items such as milk, meat and eggs have kept food inflation high, which in turn kept the overall inflation at over 9% during the 11 months till November.

Coal Ministry decided to Auction 54 Blocks on Upfront Payment Basis

The coal ministry decided to auction 54 blocks on upfront payment basis. The ministry however might not offer mines to power companies. The ministry is currently considering a proposal to earmark blocks to states that can call competitive bids for power supply. The coal ministry also decided that blocks will not be given free to government companies. Though competitive bidding route would not be applicable to centre and state government projects, PSUs will have to pay reserve price for coal blocks. Preference would be given to companies setting up end use projects in the state that hosts the coal block and agree to match the highest bid. The blocks lie in the coal belts of seven states of Chhattisgarh, Jharkhand, Maharashtra, West Bengal, Orissa, Madhya Pradesh and Andhra Pradesh. Blocks with over 18,000 million tonnes of reserves is set to go under hammer in the first round of competitive bidding. The government has not awarded single coal or lignite block for captive use to private companies since October 2008. The coal ministry decided to initiate auction by putting the list of blocks on its website. Information on estimated reserves, exploration status and environmental clearances would also be provided. The ministrys objective is to avoid double bidding for power companies that after January 2011 have to participate in tariffbased bidding to bag power supply contracts from states.

Supreme Court: All states to ensure Tamper-free High Security Number Plates for Vehicles

Supreme Court of India on 8 December 2011 directed all states to ensure vehicles carry tamper-free high security number plates within four weeks. Giving last opportunity to state governments to implement the scheme, a bench of the apex court ruled that contempt proceedings will be initiated against the state authorities in case of non-compliance of the scheme within the time limit fixed by it. The bench added that no further time will be granted to put in force the scheme and directed the state authorities to file their affidavits on compliance of its order within four weeks. The court passed the order on a PIL seeking its direction to introduce tamper-proof number plates and licences for vehicles.

Changes in the Foreign Direct Investment Regime for the Pharmaceuticals Sector Notified
The changes in the foreign direct investment regime for the pharmaceuticals sector approved by the union cabinet was notified in early December 2011. The department of industrial policy and promotion notified the changes through Press Note 3 of 2011. Under the new regime, all FDI into Indian pharmaceuticals companies will have to be approved by the government. The greenfield foreign investment in the sector, however will continue to be on the approval route. The overall FDI limit in this sector is to remain at 100%. The government had made these changes following fears that largescale takeover of Indian drug companies by multinationals will make medicine expensive.

Indian Government to set up Independent Evaluation Office to Evaluate Flagship Programmes

The Indian government approved the setting up of an Independent Evaluation Office (IEO) to be fully funded by the government of India. The IEO will evaluate the impact of flagship programmes. Also it will be allowed to engage the services of leading institutions working in the field of social science research and other fields for the purpose. The Deputy Chairman of the Planning Commission will be the chair of the governing body of the IEO. The core staff of the IEO would comprise a Director General, four Directors (Domain Experts) at the level of an Additional Secretary/Joint Secretary, one Joint Secretary (Administration/Finance), six Research Coordinators at the Director-level of the Government of India, ten young professionals (subject experts) and seven office staff. IEO will be an independent body with full functional autonomy to discharge its functions.

India's R Ashwin moved into Top 20 of the ICC ODI Bowling Charts for the First Time in His Career
According to the latest ICC ranking released on 7 December 2011, India's R Ashwin moved into top 20 of the ICC ODI bowling charts for the first time in his career following his consistent performance in Indias test and one day series against West

Indies. With 620 points, Ashwin was ranked 18th, a jump of three places. After his performance in the recent three-match series in Bangladesh, Pakistan's Mohammad Hafeez gained six places in the latest rankings and now sits just 19 ratings points behind team-mate Saeed Ajmal, who headed the bowlers' list. Batsman Virat Kohli moved one rung to be placed fourth in the latest ranking. Kohli has who garnered 766 points was placed alongside India skipper Mahendra Singh Dhoni who has lost one rank. Rohit Sharmas three half centuries in the ongoing series against the West Indies helped him move up 21 places to 35th. However opener Gautam Gambhir lost seven places to be placed alongside South Africa's JP Duminy at 19th position. South Africa's Hashim Amla and AB de Villiers and Jonathan Trott continued to keep the top three spots in the batsman list.

The Chhattisgarh Government decided to Increase Reservation for SCs and STs
The Chhattisgarh government on 7 December 2011 decided to raise the percentage of reservation for the scheduled tribes (STs) and scheduled castes (SCs) in government jobs. The STs will now get 32 per cent whereas the SCs will get 12 per cent reservation. The OBCs will continue to be given 14 per cent reservation as usual.

England Batsman Alastair Cook received Member of the Order of the British Empire (MBE) Medal
England batsman Alastair Cook on 6 December 2011 received Member of the Order of the British Empire (MBE) medal from Britain's Queen Elizabeth II at Buckingham Palace. The left-handed opener's prolific form in Australia during the 2010/11 Ashes series helped England to a 3-1 series win - their first Test campaign triumph Down Under in 24 years. Cook scored a mammoth 766 runs in the series to play a major part in that series win. Then series win helped propel England to the top of the Test rankings. Cook began his Test career with a second-innings century in Nagpur, India, in March 2006. He has till date made 19 Test tons in all. In the second innings of the first Ashes Test in November 2010, Cook made 235 not out. He then scored 148 in the second Test, 82 in the fourth and 189 in the fifth and final Ashes encounter in Sydney.

Delhi State Government launched e-PDS System for Greater Transparency

Delhi state government on 7 December 2011 launched the Electronic Public Distribution System (e-PDS). This system will help consumers get online information on the availability of food grains, distribution of important commodities and ration shops. It will reduce complaints of divergence and other corrupt practices. The project was launched on a pilot basis for Krishna Nagar and Gandhi Nagar areas of the city. The government plans to extend the project to the entire city. The e-PDS would improve the Public Distribution System by bringing more transparency in the supply chain management.

Scientists identified a new gene HTR7, which makes people Alcoholic

HTR7- A gene, which plays a major role in making a person alcoholic.

Scientists discovered a new gene, which plays a major role in making a person alcoholic. Scientists put more than a 1000 people with generations of problem-drinking in the family on test. The test established a strong link between drinking and the serotonin receptor gene called HTR7

The State Assembly of Bihar passed the Bihar Lokayukta Bill 2011
The state assembly of Bihar on 7 December 2011 passed the Bihar Lokayukta Bill 2011to constitute a strong and effective Lokayukta in the state. The bill will have Chief Minister, ministers, former chief Ministers, the Speaker of the Vidhan Sabha and Chairman of the Legislative Council, Legislators and former legislators under its purview. It will cover also public servants, employees of the government and corporations or organizations getting government grants. The bill provides for a three-member Lokayukta, which will have at least two members from the judiciary. Its chairperson and members are required to have special knowledge and professional experience of not less than 25 years in public affairs, academics, law, finance, management, administrative law and policy. Moreover, the term of the chairperson and members would be five years from the date of assuming office. However, the Governor can suspend the chairperson or any other member from office on the ground of misbehaviour after the Supreme Court of India agrees on a reference made by the Governor. There will be a five-member selection committee consisting of Legislative Council Chairman, Assembly Speaker, two judges (nominated by the Chief Justice of the Patna High Court) and a Lokayukta. Out of this selection committee, a search panel will be constituted and it will have a time-limit of three months to draw up a list of probable candidates for Lokayukta.

ICICIs & IDBIs launch of CDS marked Formal Introduction of Local Currency CDS Market in India
Indias largest private lender by assets, ICICI Bank and IDBI Bank, the seventh largest public sector bank in India together launched Indias first credit default swap (CDS) on 7 December 2011. CDS was launched seven days after the product was cleared by the Reserve Bank of India on 30 November 2011. Public sector undertaking Rural Electrification Corporation (REC) bought the CDS cover for its Rs 5 crore loan from ICICI Bank. The launch of the CDS was a landmark transaction for the domestic corporate debt market and marked the formal introduction of local currency CDS market in India.

IDBI Bank became the countrys first PSU bank to underwrite a CDS transaction in the domestic market for managing credit risks associated with Indian corporate bonds. This is the first transaction of its kind entered by any public sector bank with another bank in India on selling protection in the domestic market on corporate bonds. The central bank, RBI had issued prudential guidelines on CDS transactions on corporate bonds on 30 November 2011. The guidelines refered to CDS transactions underwritten by Indian operations of foreign banks, Indian banks and overseas branches/subsidiaries/joint ventures of Indian banks. Benefits The launch of the CDS market in India will encourage foreign institutional investors to invest in domestic corporate bonds. The investment in domestic corporate bonds will provide much-needed funding for projects, including infrastructure sector projects. Credit default swaps also will investors to transfer and manage credit risk in an effective manner through redistribution of risk. Such products are expected to increase investors interest in corporate bonds and is likely to prove beneficial to the development of the corporate bond market in India. What is CDS? A CDS is similar to a traditional insurance policy where it obliges seller of the CDS to compensate the buyer in the event of a loan default. The agreement is that in the event of a default, buyer of the CDS receives the money which is equivalent to the face value of the loan and seller of the CDS receives the defaulted loan and with it the right to recover it at some later time.

The Parliament of Greece approved Austerity budget for 2012

Greek Parliament on 7 December 2011 approved a budget for 2012 pledging tough fiscal goals demanded by European Union partners in return for fresh loans. The austerity budget projects a modest primary surplus excluding interest payments on debt. A broad majority of the parties backing Lucas Papademos' caretaker administration secured the economic blueprint's passage by 258 votes to 41, after the vote concluded. Greek has been relying on loans from other eurozone countries and the IMF (International Monetary Fund) since May 2010. In return, Greece cut salaries and pensions and hike taxes to reduce budget deficits.

Delhi Metro won Clean Development Mechanism Project Award for Reducing Emission
Delhi Metro Rail Corporation(DMRC) won a green award for reducing emissions of polluting gases in the national capital by 6.3 lakh tons every year. The best Clean Development Mechanism (CDM) project award was presented at Urban Mobility Conference, 2011 which concluded in New Delhi on 7 December 2011. The best CDM award was given to Delhi Metro for for its Modal Shift Project under which it became the first Metro rail and railbased system in the world to be certified by United Nations for getting carbon credits for reducing green house gas(GHG)

emissions. Delhi Metro, which ferries around 18 lakh people daily, helped to reduce pollution levels in the city by 6.3 lakh tonnes every year, thus helping in reducing global warming. DMRC director (Works) Mangu Singh received the award on the organisation's behalf. This is the second CDM project from DMRC to be registered with the UN in the last three years. DMRC's first CDM project on regenerative braking had also achieved many international firsts apart from earning valuable foreign exchange for the country.

EMB-145I Aircraft for Indian Airborne Warning & Control System (AEW&C) undertook Maiden Flight
The first fully modified aircraft, EMB-145I for the indigenously developed Indian Airborne Early Warning and Control System (AEW&C) undertook its maiden flight from Sao Jose dos Campos in Brazil on 6 December 2011. The modified Embraer aircraft undertook its maiden flight with about 1000 Mission System Components provided by the Centre for Airborne Systems (CABS) of the Defence Research Development Organisation (DRDO). The components include the critical item AESA (Active Electronic Scanning Antenna) Radar Antenna developed by DRDO and certified from ANAC, International FAR Certification Agency. The indigenous system, AEW&C estimated to cost around Rs 1800 crore would detect, identify and classify threats present in the surveillance area and act as a command and control centre to support air operations, according to DRDO officials. The systems for the EMB-145I aircraft is currently being developed by Bangalore-based Centre for Air Borne Systems (CABS), a Defence Research and Development Organisation (DRDO) facility. The inclusion of this aircraft will enable India to join the league of countries capable of developing and delivering such complex Airborne System of Systems to its user. India and Brazil had signed a deal in 2008, under which Embraer was to supply the aircraft. The fully integrated AEW&C system would be flight tested in 2012.

Indian Government set up Electronic Centre Unit to deal with Black Money issue in IBSA Countries
The Indian government in December 2011 set up an electronic centre unit in the Finance Ministry to deal with the unaccounted money issue in IBSA countries- India, Brazil and South Africa. The new unit is to deal with governments in exchanging information on tax-evaders and black money in IBSA nations. The government received information from 10 countries on the issue. The IBSA electronic centre unit is aimed at tackling the black money menace in the IBSA nations. The information is currently being disseminated by various government agencies. Prosecution has also been launched in 17 cases pertaining to LTG bank in Germany.

The unit, in close association with the revenue intelligence agencies of other countries, will identify and share information on tax evaders, abusive tax schemes as well as of the people who are involved in promotion of such activities. Abusive tax schemes are transactions designed to reduce or defer taxation. The revenue authorities of IBSA countries will also study the latest trends in tax evasion, abuse of taxation laws and the trends that have emerged to avoid taxes. They will track black money flow in these countries and get information in a speedy and accurate manner as well as facilitate sharing of expertise, best practices and experiences in tax administration to combat abusive tax schemes. India has Double Taxation Avoidance Agreements (DTAAs) is currently in place with Brazil and South Africa. Representatives of all the countries are to have an exchange of information and hold regular meetings in the three countries by rotation to work out a joint strategy on how to tackle this growing menace of stashing funds abroad and prevent ways of tax evasion.

Wipro Infrastructure entered into JV with Kawasaki Heavy Industries to produce Hydraulic Pumps
The global hydraulics business of Wipro, Wipro Infrastructure Engineering entered into a joint venture with Kawasaki Heavy Industries in India to set up a large manufacturing facility for producing hydraulic pumps for excavators. The joint venture is to be called Wipro Kawasaki Precision Machinery. The investment will be Rs.50 crore and the plant is to be set up in Bangalore. The new manufacturing unit to be set up at Bangalore will have an initial capacity of 4000 pumps which would be augmented to 15000 pumps by 2015. The manufacturing facility will produce hydraulic pumps catering to a range of 7 tonne to 20 tonne. Wipro Infrastructure Engineering is one of the world's largest independent manufacturer of hydraulic cylinders. Wipro will be able to expand its product portfolio in the hydraulic segment with this deal and the localisation will offer improved time to market advantage and enhanced customer service. The overall construction equipment market in India is likely to grow to USD 20 billion by 2020-21.

Lok Sabha passed the New Delhi Municipal Council (Amendment) Bill 2010
Lok sabha on 7 December 2011 passed the New Delhi Municipal Council (Amendment) Bill 2010. The bill allows local representatives more say in the civic body. The Main Features of the Bill The bill seeks to change the structure of the NDMC by making the MP of the area its member with voting right. Prior to this, the MP was just a special invitee to the council. The bill increases the number of members from 11 to 12. The bill also increases the number of representatives belonging to the schedule castes from 1 to 2. As per the amendments, NDMC will have three women members and two nominated members. The Bill also proposes to reduce the number of MLAs as members of the council, from 3 to 2 because after the delimitation exercise there are only two Assembly constituencies whose area partly or fully fall in the New Delhi area.

The bill further adds that a Chief Minister if representing the NDMC area, will preside over the meetings. If he is not available, then an MP of the area, if he or she is a minister, will chair the meetings. If the MP representing the area is not a minister, then the MLA, if he holds a ministerial position, will preside. Failing all the three, the area MP will chair the meetings and if none of them is available, then the chairman of the council will preside. At present, NDMC meetings are presided over by the chairman of the council.

Josphat Ndambiri of Kenya won the Fukuoka Men's Marathon in Japan

Josphat Ndambiri of Kenya won the Fukuoka men's marathon in Japan winning the 42.195km race in 2hrs 7mins and 36secs on 4 December 2011. Mwangi stood second. Both Ndambiri and Mwangi currently reside in Japan. Mwangi crossed the line one minute and two seconds after Ndambiri who had opened up a sizeable lead following the 35km mark. Yuki Kawauchi of Japan finished in third place with a time of two hours, nine minutes and 57 seconds. The Fukuoka marathon, now in its 64th year, is widely regarded as a prestigious title. In 2011 the ocassion was treated as valuable preparation for next year's Olympics in London.

Lake City of Udaipur in Rajasthan voted Best Leisure Destination in India

Readers of international travel magazine Cond Nast Traveller voted the lake city of Udaipur in Rajasthan as the best leisure destination in India. Rajasthan State Tourism Minister Bina Kak received the Cond Nast Traveller India Award-2011 from Union Tourism Minister Subodh Kant Sahay in New Delhi on 3-4 December 2011 weekend. The award opened up Rajasthans tourism sector to the globetrotters and package tour operators in a big way Rajasthan emerged, over the years as a famous tourist destination as well as a State continually endeavouring to create new circuits and new tourism products and upgrade the tourism infrastructure to attract both domestic and foreign travellers. Cond Nast Traveller is one of the world's most renowned travel magazines. Its readers vote for various categories of destinations, accommodations and transport every year.

The National Common Mobility Card (NCMC) was launched by the Name More
More- The National Common Mobility Card (NCMC) launched to provide commuters hassle free travel experience. The Union Ministry for Urban Development on 6 December 2011 launched the National Common Mobility Card (NCMC), by the name More, on the concluding day of the four-day Urban Mobility India 2011 Conference-Cum-Exhibition. The brand name has been chosen More signifying the national bird Peacock as also literally in English meaning more to convey that you get more and more by using this card.

The idea of NCMC is to promote the user to perceive it as a single transport system and provide the commuter with a seamless, efficient and hassle free travel experience across the length and breadth of the country.

Integrated Skill Development Scheme (ISDC) for the Textile and Apparel Sector launched
With the inauguration of the first state-of-the-art ATDC-SMART (Skill for Manufacturing Apparels through Research and Training) in Egmore, Chennai, the Integrated Skill Development Scheme (ISDC) for the textile and apparel sector was launched by the Ministry of Textiles. The Ministry launched the project in association with the Apparel Training & Design Centre (ATDC), which was selected as a nodal agency for the project. The project aims to impart training to a workforce of about 256000 in the next two years. The ATDC-SMART project worth Rs 23 billion focuses on the core workforce requirements of the garment industry located across India. The importance of the Scheme can be judged from the fact that the apparel industry is the second largest employment provider in the country after agriculture. Rural youth and women stand to benefit the most from the ISDC. The rural youth would be able to find gainful employment in areas near their domicile with the help of the imparted training. Indias domestic textile market is expected to grow to US$ 60 billion and exports to US$ 50 billion by 2015. By 2015 the sector is expected to create an additional 12 million jobs, nearly 40 per cent of which will be in the core production activities. The handicrafts industry employs 12 million people in India currently.

Total Demand of Cotton for 2011-12 Estimated to be Marginally Lower at 250 lakh Bales
According to the assessment by Cotton Advisory Board (CAB), total demand of cotton for 2011-12 is estimated to be marginally lower at 250 lakh bales as compared to the demand for 253 lakh bales for 2010. The domestic demand for cotton is expected to decline due to slowdown in the global and domestic markets. The demand for the natural fibre stood at 253 lakh bales (one bale equal to 170 kg) during the 2010-11 cotton season (October September). The demand for cotton is moderate and buying is slow in the domestic market. Also lower textile shipment to the US and Europe forced domestic textile industry to cut down production by around 10 per cent. CAB projected the exports of natural fibre at 80 lakh bales in the 2011-12 cotton season against 70 lakh bales in 2010-11. CAB pegged the India's cotton production at 356 lakh bales in the current cotton season, as against 325 lakh bales in the last cotton season.

Justice P.N. Bhagwati Award presented to Naveen Jindal by Former President A.P.J. Abdul Kalam
Former president A.P.J. Abdul Kalam presented the Justice P.N. Bhagwati Award to O.P. Jindal Global University chancellor and managing director of Jindal Steel and Power Ltd, Naveen Jindal on 6 December 2011. The award was conferred upon Jindal for his outstanding contribution to legal education and corporate philanthropy. Justice P.N. Bhagwati Award has been instituted by the Capital Foundation. Naveen Jindal is the Founding Chancellor of the O.P. Jindal Global University. He is also a Member of Parliament, the Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), and a sports enthusiast. The O.P. Jindal Global University has four schools: Jindal Global Law School (JGLS), Jindal Global Business School (JGBS), Jindal School of International Affairs (JSIA) and Jindal School of Government and Public Policy (JGSP). The Bhagwati Award was also given to Arun Mohan, a senior advocate in the Supreme Court, in recognition of his outstanding contribution to access to justice. Human Resource Development Minister Kapil Sibal and Law and Justice Minister Salman Khurshid were conferred the Justice V.R. Krishna Iyer Award on the occassion.

Coal Ministry turned down Coal Indias (CIL) Plea for Scaling Down 201112s Output Target
The Coal Ministry on 6 December 2011 turned down Coal Indias (CIL) plea for scaling down current fiscal 2011-12 s output target to 448 million tonnes (MT) from 452 MT. Fearing that it will not be able to make up the slippage in output that occurred during the first half of 2011-12, CIL which accounts for 81 per cent of domestic production had asked the coal ministry to revise the target. CIL was instructed to surpass the target, which was possible and required given the paucity of coal. The country's demand-supply gap is expected to reach 142 MT in 2011-12, as against the country's estimated output of 554 MT. The Planning Commission projected the demand-supply to touch 200 MT in the next five years. CIL had missed its April-September target by about 20 MT, recording an output of 176 MT, as against 196 MT planned. CIL had blamed the inclement weather, including heavy rains in August-September for disruptions. The five CIL trade unions had in October 2011 assured the ministry of their best efforts to meet the production target after their employee bonuses were revised upward to Rs 20000 per worker instead of the earlier announced Rs 17000. CIL had missed its production target in 2010-11 as well recording an output of 431 MT, as against the revised target of 440 MT.

Permanent People's Tribunal indicted Parent States of Six Agrochemical Multinational Corporations

A panel of jurors of the Permanent People's Tribunal, an international opinion tribunal, presented its findings following three days of depositions by citizens from around the world. The findings of the panel indicted parent states of six agrochemical multinational corporations, host countries such as India, and international bodies (such as the United National, Food and Agricultural Organisation and the World Trade Organisation). The panel highlighted that the failure of states to regulate, monitor and discipline the activities of the companies made culpable along with the host states. Witnesses from around the world had testified in the four-day Permanent People's Tribunal regarding the health impact, human rights violations and unethical practices by six transnational corporations Bayer, BASF, Dupont, Monsanto, Syngenta and Dow Chemical. German economist Elmar Altvater presented the facets of the findings and also mentioned on the occassion that economic liberalisation, deregulation and privatisation of formerly public goods have led to human rights violations and unethical practices by six transnational corporations. The conclusion drawn maintained that transnational have not been responsible in their pursuit of higher profits, and for this people have had to pay a hefty price.

NASAs Kepler Mission discovered a Habitable Earth-like Planet, Kepler22b

A team of researchers from NASAs Kepler Mission discovered a habitable earth-like planet, called Kepler-22b. This newly discovered planet orbits around a sun-like star 600 light years away from the planet earth. The star is loacted near the constellations of Lyra and Cygnus. The team of researchers used photometric data from the NASA Kepler space telescope. The telescope monitors the brightness of 155000 stars. When earth size planet periodically passes in front of their stars, it results in tiny dimming of their host stars dimming, which is measured by a space telescope like Kepler. The planet is very much similar to earth in key aspects. It has a surface temperature of about 72 degrees Fahrenheit and it is likely to have water and land. The research team was led by William Borucki of the NASA Arms research centre. The star was categorized as a G5 star. It has a mass and radius smaller than that that of the Sun. It makes the star 25 percent less luminous than the Sun. NASA's Kepler mission confirmed its first planet in the habitable zone, the region where liquid water could exist on a planets surface. The newly confirmed planet, Kepler-22b, is the smallest yet found to orbit in the middle of the habitable zone of a star similar to our sun.The planet has an orbital period of 290 days in comparison of 365 days of planet earth. It is orbiting in the middle of the stars habitable zone, where liquid water can exist on the surface of the planet. The new exoplanet has the smallest radius amongst all the planets so far discovered.

Bank Lending to the Priority Sector grew at 10% in October 2011 on an Annual Basis
Bank lending to the priority sector grew at a mere 10 % in October 2011 on an annual basis due to lower offtake by agriculture and MSME segments as well as decline in micro credit. Credit offtake by the priority sector had grown by 19.9 per cent during October 2010. Credit disbursement to the priority sector stood at Rs 12.48 lakh crore in October 2011 compared to Rs 11.35 lakh crore in October 2010. Bank disbursements to agriculture and allied activities in October 2011went up by a mere 7.1 per cent to Rs 4.35 lakh crore. In October 2010, credit disbursement to the segment had gone up by 20.4 per cent on an annual basis. growth in offtake by the micro and small enterprises (MSME) slowed to 17.4 per cent at Rs 4.73 lakh crore in October 2011. Bank credit disbursement to the sector had increased by 20 per cent in October 2010. The micro sector witnessed a decline of 13.3 per in October 2011 to Rs 24601 crore. Micro credit had grown by over 50 per cent in the same month in 2010. Credit to the housing sector in October 2011 stood at Rs 2.36 lakh crore, up a meagre 3.5 per cent on an annual basis. The growth in credit to housing had stood at 9.3 per cent in October 2010. Bank credit disbursement to weaker sections grew by 13.3 per cent to Rs 2.20 lakh crore during the month under review. Credit offtake by weaker sections from banks had risen at an annual rate of 27.7 per cent in October 2010. While some priority sectors like agriculture and loans for weaker sections is disbursed at an interest rate lower than their prime lending rates, other segments do not fall under the subsidised lending regime.

Kishore Biyani sold Stakes in Future Capital & Future Generali Life to Deccan Chronicle & IITL
Retail entrepreneur Kishore Biyani exited his financial services through two separate transactions worth over Rs 1000 crore. Hyderabad-based sports and media company Deccan Chronicle acquired the stake owned by Biyanis flagship firm, Pantaloon in Future Capital Holdings. The deal is estimated to be worth Rs 600-700 crore. In a separate transaction, Mumbai-based Industrial Investment Trust ( IITL) purchased Pantaloon's 26% stake in its insurance joint venture Future Generali Life for Rs 250-300 crore. Both the transactions were all-cash deals. The transaction and cash infusion is expected to provide relief to debt laden Pantaloon after hopes of a stake sale in the company to a foreign retail giant were dashed. Pantaloon's hopes of a stake sale were dashed after the government put on hold its recent decision to open up multi-brand retail to global chains.

The Future group had planns to use the group's vast retail presence to sell financial services products, but the model ran into trouble after the financial sector meltdown in 2008. The businesses, especially life insurance, required constant capital which Pantaloon was unable to provide due to increasing competition and margin pressure in the core retail business. Pantaloon's standalone debt stood at Rs 2173 crore at the end of June 2011. Consolidated debt was at Rs 7846 crore compared with Rs 4352 crore in 2010.

The Global Conference on Afghanistans Future Concluded in Bonn

Bonn-The Global Conference on Afghanistans future concluded here. Bonn is the capital of Germany. The one-day global conference in Bonn on Afghanistans future ended on 5 December 2011. During the summit, Afghanistan pledged to intensify the drive against corruption in exchange for international support after NATO forces withdraw in 2014. About 1000 delegates from 100 countries and international organisations participated in the organisation. Pakistan didnt attend the Bonn summit. First Bonn summit was held in 2001.

The Theme for World Disability Day 2011 stressed on the Inclusion of the Disabled for a Better World
World Disability Day (WDD) is observed anually on 3 December. In 2011, the theme for the International Day of Persons With Disability was- Together for a better world for all: Including persons with disabilities in development. It is estimated that nearly 610 million people are existing with disabilities across the world. In India alone, nearly 60 million people suffer disabilities. Apart from raising issues and creating awareness on the rights of disabled people, the day is observed with an objective to give back something to the society. World Disability Day intends to provide accessibility to infrastructure that could enable the differently abled to lead a life well-integrated with the civil society. World Disability Day aims to celebrate the rights of disabled people. National Centre for Promotion of Employment for Disabled People (NCPEDP) works to promote better life for those who are differently abled. NCPEDP has been celebrating this day on a national scale for last six years to encourage solidarity among disabled people. It managed to successfully focussed on the issue of disability among other social groups. NCPEDP had in 1997 organised the first walkathon Walk to Freedom in Delhi to commemorate the countrys 50 years of independence. Students from both regular and special schools had participated in the walk. Over the years the event became an integral part of WDD celebrations. Observance of WDD in 2011 Observance of WDD celebration for 2011 included reaching out to general public and sensitising them about disability related issues and about their Inclusion in the everyday fuctioning of their society.

Regional Learning Centre on Deafblindness, supported by Sense International on 3 December 2011 organised the event to create more awareness on the needs of those with disabilities. According to project coordinator of Deafblind and Multi-Handicap Unit, the aim of such events is to create an inclusive environment for deafblind people in the society and ensure a quality life for them. Helen Keller Helen Keller, who herself was a severely disabled woman, deaf-mute and blind, fought against her disability to become a world famous speaker and author. Helen Keller championed the cause of the disabled and showed that it is only through knowledge that the disabled will be able to overcome their handicap to fulfill the purpose of their lives. History International Day of People with Disability is an international observance promoted by the United Nations since 1992. The Day aims to promote an understanding of disability issues and mobilize support for the dignity, rights and well-being of persons with disabilities. It also seeks to increase awareness of gains to be derived from the integration of persons with disabilities in every aspect of political, social, economic and cultural life. The objective of this day revolve around exploring better ways of accessing information and communication technologies that are a right to the disabled. The United Nations General Assembly in 1976 proclaimed 1981 as the International Year of Disabled Persons (IYDP). It called for a plan of action at the national, regional and international levels, with an emphasis on equalization of opportunities, rehabilitation and prevention of disabilities. The theme of IYDP was full participation and equality. The theme promoted the right of persons with disabilities to take part fully in the life and development of their societies, enjoy living conditions equal to those of other citizens, and have an equal share in improved conditions resulting from socio-economic development. United Nations Decade of Disabled Persons was 1983-1992. Each year the theme focusses on different issues related to disability. In 2009 the theme was- Making the MDGs Inclusive: Empowerment of persons with disabilities and their communities around the world. Keeping the promise: Mainstreaming disability in the Millennium was the theme in 2010

Centre for Development of Telematics transferred GPON Technology to Telecom Equipment Makers
The Centre for Development of Telematics (C-DoT) on 5 December 2011 transferred indigenously-developed Gigabit Passive Optical Network (GPON) technology to seven telecom equipment manufacturers, including private players. The GPON technology was transferred to the telecom equipment manufacturers to give the much-needed push to broadband penetration in India. The government transferred this technology to seven manufacturers in public and private sectors ITI, Bharat Electronics, VMC Systems, United Telecoms, Sai InfoSystem (India), SM Creative Electronics. Transfer of technology was also signed with Tejas Networks for customised development.

GPON technology The GPON technology is a pivotal component required for broadband connectivity over optical fibre. C-DOT indigenously designed and developed GPON technology, which can be used to provide triple play (voice, video and data) through fibre-based networks. The present GPON standards specify 2.5 Gbps (Gigabit per second) downstream and 1.25 Gbps upstream data capability to customer premise. Apart from urban areas, the large data carrying capability is important for Indian villages too where prevailing low literacy levels will require better dissemination of information with greater graphic and audio content. Besides, voice telephony, high speed Internet access and IPTV, the C-DOT GPON has provision to carry cable TV signal too. The GPON technology was tested, validated, field-evaluated and made operational in BSNL's network in Ajmer (Rajasthan). The technology will help fulfil requirements of major national programmes like the National Optical Fibre Network and the State Wide Area Network.

Empowered Committee to send Technical Members to Inspect Mullaperiyar Dam

The Empowered Committee in its meeting on 5 December 2011 decided to send two technical members to inspect the Mullaperiyar dam before finalising its report following apprehensions raised by Kerala about the safety of the dam after mild tremors occurred in the area. The Empowered Committee is headed by former Chief Justice of India, A.S. Anand. The other members of the committee include Justice K.T. Thomas, a retired Supreme Court judge representing Kerala; Justice A.R. Lakshmanan, a retired Supreme Court Judge representing Tamil Nadu; C.D. Thatte, former Secretary to the Ministry of Water Resources and D.K. Mehta retired Chief Engineer, Central Water Commission. The committee had conducted a spot inspection of the dam in December 2010. During iots meeting on 5 December, the committee considered the reports of the studies and investigations conducted by various agencies it constituted to study the dam's safety. It also discussed the applications filed respectively by Kerala and Tamil Nadu and took note of their submissions. Kerala had urged the Expert Committee to review its order rejecting permission for producing additional evidence in respect of the safety, based on the reports of two experts, D.K. Paul and M.L. Sharma. the committee had earlier rejected Kerala's application on the grounds that in 2009, the Supreme Court had not taken on record these reports. The committee, according to Kerala ought not to have relied on the Supreme Court's order as it was not barred from receiving evidence in respect of seismic threat to the dam. Following Keralas argument the committee agreed to hear the State's arguments on this count. Since Kerala filed an application for bringing on record the recent tremors and sought an oral hearing, the committee decided to send two of its members to conduct a spot inspection of the dam. Kerala's plea for oral hearing was also accepted. The committee directed Tamil Nadu and Kerala to make submissions on 2 January 2012. On 3 January the committee will consider the modalities for finalising its report to the Supreme Court. Earthquakes in the region

During the months of July-November 2011, 25 earthquakes were reported in the Mullaperiyar dam region . Some of the earthquakes on 26 July and 18 and 26 November were more than magnitude 3 on the Richter Scale. The highest magnitude 3.8 was recorded on 26 July 2011. The frequent earthquakes caused panic among 50 lakh people in the downstream region of the Periyar dam. The fear was further heightened by the incessant rain in the catchments of Mullaperiyar shooting the storage above 136 feet mandated by the provisions of the Amendment Act of 2006. If the Mullaperiyar dam breaks due to flood or earthquake, a mass disaster would follow, wherein not only the life and property of 50 lakh people will be affected in Kerala, but lakhs of farmers of Tamil Nadu will also lose irrigation of about 2.5 lakh acres. Kerala therefore feels that Tamil Nadu should agree for the construction of a new dam offered by Kerala as a precautionary measure.

International Team of Scientists discovered Adult Stem Cells in the Heart

An international team of scientists led by Prof Richard Harvey of the University of New South Wales and colleagues at Victor Chang Cardiac Research Institute discovered a new population of adult stem cells in the heart. The findings were piblished following recent reports that stem cells harvested from human hearts during surgery show promise for reversing heart attack damage. Scients claimed in their findings, published in the latest edition of the 'Cell Stem Cell' journal that the adult stem cells can augment the development of new regeneration and repair therapies for people who have suffered cardiac failure. This is the first time this new population of stem cells was formally described, and its origins clearly defined. A mouse was used as a model system. The first part of the study included the discovery and characterisation of a new population of multi-potent, adult stem cells that live in the heart . The stem cells were found to be powerful in dividing, and responding to their native environment to form whatever tissue is needed for repair. The new group of cells are multi-potent, and highly specific to the heart. These cells when translated into the human setting is expected to work well at regenerating and repairing a broken heart or a heart that has suffered injury through heart attack or heart failure. The scientists are of the opinion that population of cells are very high up in the stem cell hierarchy, and can generate a number of progenitor cells that would exist in a healthy heart, ready for action.

42nd Edition of International Film Festival of India (IFFI) concluded in Panaji on 3 December 2011
The 42nd edition of International Film Festival of India (IFFI) was held in Panaji, Goa from 23 November to 3 December 2011. Film star Shah Rukh Khan inaugurated the 42nd edition of IFFI. The inaugural ceremony was marked by presentation of Life

Time Achievement award, which was revived after almost 10 years to French film maker Bertrand Tavernier by Shah Rukh Khan. The 10-day festival, featured 6680 delegates from India and around the world, and 165 films. The films were divided in the categories of Indian Panaroma - Fiction and Non Fiction, World Cinema, Retrospectives, Country Focus (US, Poland and Russia), Three Dimension and Soccer Packages. The festival also included classics from Tagore, such as Milan, Streer Patra, Charulata and Kshudita Pashan. Films of Mani Kaul, Shammi Kapoor, Samir Chanda and M.F. Husain were also showcased. World Cinema films Pina, Artist, Agha Yousef, How big is your love, My Australia, Starbuck, Porfirio and Majidleft an impact on the audience. The opening film of the festival was The Consul of Bordeaux, directed by Francisco Manso and Joao Correa. The 42nd IFFI came to an end with the Asia premiere of the film The Lady directed by Luc Besson. Besides the films, there were a spate of master classes, discussions, seminars, documentaries and short films, open forums and networking events at eight locations spread over two cities of Panjim and Margao. The Firsts The festival was marked by several firsts. For the first time, the inauguration ceremony was held 30 km away from the main action point. There was a first-ever open screen on a football ground for free display of soccer films. The festival was the first to feature the new sections like 3D, Animation (Sketches on Screen) and Festival Kaleidoscope films. Awards presented during the Festival The 42nd International Film Festival of India come to an end at the Kala Academy in Panaji with the presentation of awards in five different segments. The Golden Peacock Award for the Best Film was given to a Columbian Film Porfirio. The Chief Guest of the closing ceremony, Southern Superstar, Suriya presented the award to the Director Alejandro Landes and Producer, Francisco Aljure. The Silver Peacock Award for Best Actor (Female) category was given to the actor Nadezhda Markina for her role in the Russian film Elena. Whereas, the Silver Peacock Award for Best Actor (Male) category was won by Sasson Gabey for his role in an Israeli film Restoration. The Special Jury Award was presented to Salim Ahamed for directing Malayalam film Adaminte Makan Abu meaning Abu, Son of Adam. The Special Jury Award carries a Silver Peacock Trophy, a certificate and Rs. 15 lakh. The five members Jury under the chairmanship of Adoor Gopalakrishnan had screened 14 films from as many countries and unanimously decided the awards. History of IFFI The 1st edition of IFFI was organized by the Films Division, Government of India, with the patronage of the first Prime Minister of India. The 1st edition was held in Mumbai from 24 January to 1 February 1952. The festival travelled to Madras, Delhi Calcutta and Trivandrum. From the 3rd edition in January 1965, IFFIs became competitive. It was since then moved to Trivandrum, capital of Kerala. In 1975 the Filmotsav, non-competitive and to be held in other filmmaking cities in alternate

years, was introduced. Filmotsavs were later merged in IFFIs. In 2004 the IFFI was moved to Goa from Trivandrum. Since then the IFFI has been an annual event and competitive. The festival aims at providing a common platform for the cinemas of the world to project the excellence of the film art. It aims at contributing to the understanding and appreciation of film cultures of different nations in the context of their social and cultural ethos; and promoting friendship and cooperation among people of the world. The festival is conducted jointly by the Ministry of Information and Broadcasting and the Government of Goa.

Getting to Zero was the Dominant Theme of World Aids Day observed on 1 December 2011
World Aids Day is observed anually on 1 December 2011. The theme of World AIDS Day 2011 was Getting to Zero. Backed by the United Nations the Getting to Zero campaign will run until 2015. The Getting to Zero campaign draws heavily from successful 2010 World AIDS Days Light for Rights initiative encompassing a range of vital issues identified by key affected populations. In 2011 the global community committed to focusing on achieving 3 targets: Zero new HIV infections, Zero discrimination and Zero AIDS-related deaths. The World AIDS Campaign focus on Zero AIDS Related Deaths signifies a push towards greater access to treatment for all and a call for governments to act now. The global campaign claims that fundamental right to health is intrinsically and inextricably linked to other basic rights- the right to food, to shelter, to freedom, to clean water and safety. Access to affordable life saving quality medicines free from the crippling effects of excessive profit taking is also considered cricial. Zero New HIV Infections and Zero Discrimination is expected to spark high impact events from small scale community vigils to nation wide events using the universally recognised shape of zeros. World AIDS Day is dedicated to raising awareness of the AIDS pandemic caused by the spread of HIV infection. Government and health officials observe the day, often with speeches or forums on the AIDS topics. The President of the United States has made an official proclamation on World AIDS Day since 1995. Statistics World AIDS Day is dedicated to raising awareness of the AIDS pandemic caused by the spread of HIV infection. AIDS killed more than 25 million people between 1981 and 2007 and an estimated 33.2 million people worldwide live with HIV (as of 2007). In 2010, there were 2.7 million new HIV infections and 1.8 million people died from AIDS.3 Moreover, in 2011 people living with HIV were still subject to restrictions on their travel and/or stay in 47 countries, territories and areas. Despite improved access to antiretroviral treatment and care in many regions of the world, the AIDS epidemic claimed an estimated 2 million lives in 2007, of which about 270,000 were children. The Red Ribbon

The red ribbon is an international symbol of AIDS awareness that is worn by people all year round and particularly around World AIDS Day to demonstrate care and concern about HIV and AIDS as well as to remind others of the need for their support and commitment.

History World AIDS Day was first conceived in August 1987 by James W. Bunn and Thomas Netter, two public information officers for the Global Programme on AIDS at the World Health Organization in Geneva, Switzerland. World AIDS Day was first observed on 1 December 1988. The Joint United Nations Programme on HIV/AIDS (UNAIDS) became operational in 1996 and took over the planning and promotion of World AIDS Day. UNAIDS created the World AIDS Campaign in 1997 to focus on year-round communications, prevention and education. In its first two years, the theme of World AIDS Day focused on children and young people. These themes were strongly criticized at the time for ignoring the fact that people of all ages may become infected with HIV and suffer from AIDS. The World AIDS Campaign became an independent organization in 2004. From its inception until 2004, UNAIDS spearheaded the World AIDS Day campaign, choosing annual themes in consultation with other global health organizations. each year's World AIDS Day theme is chosen by the World AIDS Campaign's Global Steering Committee after extensive consultation with people, organizations and government agencies involved in the prevention and treatment of HIV/AIDS. For each World AIDS Day from 2005 through 2010, the theme was Stop AIDS. Keep the Promise, with a yearly sub-theme. Theme is not specific to World AIDS Day, but is used year-round in WAC's efforts to highlight HIV/AIDS awareness within the context of other major global events including the G8 Summit. World AIDS Campaign also conducts in-country campaigns throughout the world, like the Student Stop AIDS Campaign, an infection-awareness campaign targeting young people throughout the UK.

The Labour Party conference in Australia approved Uranium Exports to India

Australias ruling Labour Party on 4 December 2011 in its annual policy conference approved plans to open up uranium sales to India. This cleared the way for talks on a bilateral nuclear agreement between India and Australia. The conference held in Sydney overturned its own ban, which prohibits Australia to sell uranium to nations such as India that have not signed Nuclear NonProliferation treaty. The policy change does not need to be approved by Parliament. Australia possesses approximately 40 percent of the worlds known uranium reserves.

Scientists produced the Most Detailed Map of Antarctica, called BEDMAP

BEDMAP- Detailed map of Antarctica. Scientists produced the most detailed map of Antarctica, which can help understand how Antarctica might respond to a warming world. This is the second generation of the digital BEDMAP. It incorporates 27 million measurement points. Scientists report significant changes at the margins of the continent, with increasing volumes of ice now being lost to the ocean, which in turn raises global sea levels. The type of information contained in BEDMAP will help scientists forecast the pace of future events.

Rafael Nadal defeated Argentinas Potro to Give Spain its Fifth Davis Cup
Spain won its fifth Davis Cup title after Rafael Nadal defeated Argentinas Juan Martin del Potro 1-6 6-4 6-1 7-6 (0) on 4 December 2011. The victory earned Nadal his first title since winning his sixth French Open in June 2011. Nadal with the victory stretched his record on clay to 16-0. Nadal earned his 20th straight victory since debuting in the competition in 2004. Nadal caught Del Potro out with one of 35 winners to take the second set and cruise through the third set. However Potros late fightback broke Nadal four times in the fourth set to send it to a tiebreaker, where Nadal raced ahead without losing a point before securing victory with a forehand winner. Argentina remained the only nation to play in four Davis Cup finals and never win one.

Weightlifter Karnam Malleswari resigned as Vice-president of Indian Weightlifting Federation

Legendary weightlifter Karnam Malleswari resigned as vice-president of the national body, Indian Weightlifting Federation (IWLF) on 1 December 2011 citing unconstitutional functioning of the body as the reason for her resignation. In a letter to IWLF president BP Baishya, Malleswari mentioned that the reason for her resignation was the appointment of coach Ramesh Malhotra as one of the technical officers for selection trials in Bangalore in early 2011. The IWLF had earlier suspended Malhotra after he was found guilty of physically assaulting women lifters by the federations executive committee in April 2011. She accused the IWLF officials of running the federation arbitrarily for their personal gains with total disregard for the sport and the players. Malleswari also termed the appointment of Sahdev Yadav as general secretary illegal mentioning that proper procedure was not followed while suspending former secretary BR Gulati.

Her resignation brought to light an affidavit filed by former IWLF general secretary, Squadron Leader (retd) B R Gulati, alleging that former general secretary of the Commonwealth Games (CWG) Organising Committee (OC) Lalit Bhanot had, in the knowledge of Suresh Kalmadi, compelled the dissolution of the IWLF Executive Committee (EC). Malleswari was appointed vice-president in December 2009. Olympic bronze medallist Karnam Malleswari had finished on the podium at the 2000 Sydney Games.

Number of Corporate Debt Restructuring (CDR) Cases rose Sharply to 35 in the First Half of 2011-12
The number of corporate debt restructuring (CDR) cases rose sharply to 35 in the first half of 2011-12 as compared to 22 in the first six months of 2010-11. The corresponding amount of loan referred also increased by nearly seven times to Rs 34560 crore in the first half of 2011-12 as compared to Rs 5180 crore in 2010-11. The amount of loan referred was the highest amount in the last eight years. There was thus an increase both in the number of cases as well as in the value of the loans being referred for recast. According to bankers, the trend of rising CDR cases is unlikely to change in the next six months as companies continue to face difficulties because of the macro-economic environment and the uncertainty in developed nations. During the first half of 2011, banks restructured around four per cent of their advances. PSU banks had to deal with higher restructuring proposal than private lenders. The State Bank of India restructured loans of over Rs 500 crore during the quarter, taking the cumulative restructured amount to Rs 35400 crore. What is CDR? CDR is a mechanism for restructuring debts of viable corporates who have been affected by internal or external factors. CDR cases include cases which are outside the purview of the Board for Industrial and Financial Reconstruction (BIFR), Debt Recovery Tribunal (DRT) and other legal proceedings. There are certain conditions on the cases that can be recast under CDR. The mechanism involved in the recast covers only multiple banking accounts/syndication/consorti-um accounts with banks and financial institutions that have an outstanding exposure of at least Rs 10 crore. The loans can be considered for restructure only if 75 per cent of the creditors by value agree to a restructuring package of an existing debt, this will be binding on the remaining creditors. Once a case is referred to CDR, there is a standstill agreement binding for 90/180 days. During this period, both the borrower and the lender commit themselves not to taking recourse to any other legal action so that the debt restructuring exercise can be undertaken without any intervention.

Brazil's Former Football Captain, Socrates who led Brazil in 1982 & 1986 World Cup died in Sao Paulo
Brazil's former football captain, Socrates who led Brazil in two World Cups died of septic shock on 4 December 2011 in Sao Paulo. Socrates was also known as the Golden Hee and the Big Thin One. He was renowned as one of the great playmakers of his generation. Born on 19 February 1954, Socrates was part of a golden Brazilian generation who included midfielder Zico, Junior, Falcao and Eder. Socrates Brasileiro de Souza Viera de Oliveira made his international debut in 1979 and captained Brazil at the 1982 and 1986 World Cups. However Brazil did not manage to win the cup under the captaincy of the former attacking midfielder. Socrates won 60 caps and scored 21 goals in his seven-year Brazil career. He had scored 25 goals in 63 games for Brazil. He was notable for the use of the backheel and the casual manner in which he took penalties. He scored outstanding goals with both feet. Socrates was a also a cultural icon and a political activist who used his celebrity to fight for the end of Brazil's 1964-1984 military government. Socrates was a physician and had practiced medicine after retiring as a player in 1989.

Belgium defeated India in the Final of the Champions Challenge Hockey Tournament
Belgium defeated India 4-3 in the final of the Champions Challenge hockey tournament in Johannesburg, South Africa on 4 December 2011. The victory enabled Belgium, who are already through to the 2012 London Games, to qualify for the next Champions Trophy in Australia. The Belgium sise was coached by Colin Batch. Tom Boon scored the winning goal for Belgium and in the process became the joint top scorer of the tournament along with Justin Reid Ross of South Africa with eight goals. VR Raghunath, Sandeep Singh and Shivender Singh scored for India.Sandeep Singh finished the tournament with seven goals, all through penalty corners, and won the Player of the Tournament award.

NACO to roll out 21 Anti-Retroviral Treatment Plus Centres to Provide Drugs to HIV Patients
The National AIDS Control Organisation (NACO) decided to roll out 21 Anti-Retroviral Treatment (ART) Plus centres to meet the increasing demand of providing second line drugs to HIV patients who failed to respond to treatment provided previously. The NACOs ART programme is headed by Dr B B Rewari. 21 more ART Plus centres will be rolled out exclusively for such HIV positive people who require second line drug therapy. 2600 people are currently on second line drugs for HIV as they were critical despite taking medication. Presently a total of 4.48 lakh people are availing free of cost drugs at 324 ART centres.

Centres were proposed in Surat, Patna, Guwahati, Lucknow, Ahmedabad, and Jaipur. The government earmarked Rs 350 crore for the entire project of providing free of cost drugs at all ART centres. Of these 21 centres, seven are already functional. 10 centres had also been set up to provide the facility for second line drugs and seven paediatric HIV centres in the country. In addition to the 324 ART centres and other second line ones, there are 678 link centres and 259 community care centres. NACO streeses on strengthening the link between the ART centres and more than 5000 Integrated Counselling and Testing Centres where people are initially identified and detected with the virus. As per the National Family Health Survey-3, there are 2.47 million HIV infected people in India of which 3.8 per cent are children. Nearly 40 per cent of the people are unaware of their HIV status. According to NACO, there are around 30000 patients availing of medication in the private sector. The World AIDS Day theme was getting to zero, but for the NACO it was also providing 100 per cent access to anti-retroviral drugs.

Icon of Indian Cinema and Evergreen Star Dev Anand died in London
An icon of Indian cinema and evergreen star Dev Anand died at the age of 88 in London on 3 December 2011 (4 December according to IST) after suffering a massive cardiac arrest. Dharam Dev Anand was born on 26 September 1923 and is more popularly known as Dev Anand. Dev Anand was an Indian film actor, director and producer known for his work in Hindi cinema. Anand came Bombay in the early 1940s and began his career in the military censor's office at Churchgate. He joined his older brother, Chetan, as a member of the Indian People's Theatre Association (IPTA). Dev Anands Film Career He was offered a starring role in Prabhat Films' Hum Ek Hain (1946) soon after he joined IPTA. In the late 1940s, Anand was offered a few roles starring as the male lead opposite singer-actress Suraiya in woman-oriented films. Dev Anand and Suraiya were paired in seven films together: Vidya (1948), Jeet (1949), Shair (1949), Afsar (1950), Nili (1950), Do Sitare (1951) and Sanam (1951), all of which were successful at the box office. He acted of the mystery genre or light comedy love stories or were films with social relevance like Ek ke baad ek and Funtoosh. Anand was offered his first big break by Ashok Kumar. He was picked as the hero for the Bombay Talkies production, Ziddi (1948), co-starring Kamini Kaushal. Ziddi went on to become a huge success. Anand started producing films after the success of Ziddi. he launched his own company Navketan in 1949 which, by 2011, had produced 31 films. Dev chose Guru Dutt as director for the crime thriller, Baazi (1951). The film starring Dev Anand, Geeta Bali and Kalpana Kartik was a trendsetter for urban crime films that followed in Bollywood in the 1950s. The film Baazi saw debut of Kalpana Kartik (aka Mona Singh) as the lead female actress and Guru Dutt as a director. The collaboration was a success at the box office. Dev Anand and kalpana subsequently made the movies Aandhiyan, Taxi Driver, House No. 44 and Nau Do Gyarah-all of which went on to become big hits too.

His penchant for nodding while speaking became Dev's style in films like House No. 44, Pocket Maar, Munimji, Funtoosh, C.I.D. and Paying Guest. He starred in a series of box office successes for the remainder of the 1950s opposite newcomer Waheeda Rehman in C.I.D. (1956), Solva Saal, Kala Pani, Kala Bazar and Baat Ek Raat Ki. Waheeda first became a star with C.I.D becoming a hit. His acting in Kala Pani (1958), as the son who is willing to go to any lengths to clear his framed father's name won him his first Filmfare award for Best Actor for the film. He attempted films of tragic genre occasionally like Pocketmaar (1956), Kala Pani (1958), Bombai Ka Baboo (1960) and Sharabi (1964) and tasted success in them as well. Dev also played a few characters with a negative shade, like in Jaal(1952). Dev Anand acquired a romantic image with films like Manzil and Tere Ghar Ke Samne with Nutan, Kinaare Kinaare with Meena Kumari, Maya with Mala Sinha etc. His first colour film, Guide with Waheeda Rehman was based on the novel of the same name by R. K. Narayan. Guide, directed by younger brother Vijay Anand, was an acclaimed movie. Vijay Anand also another Dev Anand's Jewel Thief, based on thriller genre which featured Vaijayantimala, Tanuja, Anju Mahendru, Faryal and Helen. Their next collaboration, Johny Mera Naam (1970), again a thriller, where Dev was paired opposite Hema Malini was a big hit. Just as when he was being dismissed as a leading man he delivered hits again and romanced young heroines Yogita Bali and Rakhee in Banarasi Babu (1973), Hema Malini in Chhupa Rustam (1973) and Amir Ghareeb (1974), Zeenat Aman in Heera Panna(1973), Warrant(1975) and Darling Darling(1977). Evergreen Dev Anand The 1978 hit Des Pardes, directed by Dev Anand marked the debut of actress Tina Munim and this films success gave him the tag of evergreen hero. He was 55 but he shared very good chemistry with the 20 year old Tina Munim. Dev Anand was offered lead role in Man Pasand by director Basu Chatterjee. Dev Anands successful run at the box office continued in the 1980s with Man Pasand, Lootmaar (both opposite Tina Munim), Swami Dada (1982) being both critically acclaimed and box office hits. Dev Anand as Director His directorial debut, the espionage drama Prem Pujari, was a flop. He however tasted success with his 1971 directorial effort, Hare Rama Hare Krishna which talked about the prevalent hippie culture. Hare Rama Hare Krishna that launched Zeenat Aman became a cult movie. Dev also became known as a filmmaker of trenchantly topical themes. In 1989, his directorial venture Sachch Ka Bolbala was released. Though critically acclaimed, it was a commercial failure. The actors political activity Dev Anand had been politically active. He led a group of film personalities who stood up against the Internal Emergency imposed by the then Prime Minister of India, Indira Gandhi. He actively campaigned against her with his supporters in Indian parliamentary elections in 1977. He also formed a party called the National Party of India, which he later disbanded. More on Dev Anand

Dev Anand directed 19 films and produced 31 films of which 7 directorial ventures and 18 films respectively were commercially successful at the box office. He wrote the story for 13 of his films. Dev Anand's films are well known for their hit songs. He was known to have been an active participant in the music sessions of a number of his films. His career spanned more than 65 years. Since the 1990s except for Awwal Number, rest of the eight films directed by him were box office failures. But Sau Crore (1991) and Censor (2000) were critically acclaimed. His last film as an ator and director,Chargesheet was a dud at the box office. In September 2007, Dev's own autobiography Romancing with Life was released at a birthday party with the Indian Prime Minister Dr. Manmohan Singh. his 1961 black and white film Hum Dono was digitised and colourised and released in February 2011. Awards received by Dev Anand The Government of India honoured him with the Padma Bhushan in 2001 and the Dadasaheb Phalke Award in 2002 for his contribution to Indian cinema. He won the filmfare award thrice- Best actor for kalapani (1958), Best Film for Guide (1966), Filmfare Lifetime Achievement Award (1991). Lifetime Achievement Award for Outstanding Achievement in Indian Cinema was bestowed on him at IIFA Award in Johannesburg, South Africa in 2003. In 2004, he was given the Living Legend Award by the Federation of Indian Chamber of Commerce and Industry (FICCI) in recognition of his contribution to the Indian entertainment industry. He received several international award as well: He was honoured by an Award at the hands of the then First Lady of the United States of America, Hillary Rodham Clinton in July 2000. He was also awarded the Indo-American Association Star of the Millennium Award. Donna Ferrar, Member New York State Assembly, honoured him with a New York State Assembly Citation for his Outstanding Contribution to the Cinematic Arts Worthy of the Esteem and Gratitude of the Great State of New York on 1 May 2001. He was honoured with a Special National Film Award by the Government of Nepal at Nepals first NationIndian film festival in Stockholm in 2005.

Decision to Set Up A New International Buddhist Organization in India

The first Global Buddhist Congregation which was aimed to provide a joint platform to Buddhist communities across the world and also to impact geo-politics in Asia was concluded in New Delhi on 30 November 2011. The four-day congregation decided to set up a new international Buddhist organization in India. It was attended by heads and representatives from Buddhist Sanghas, national Buddhist federations, organizations and institutions from 46 different countries of the world. The international Buddhist organization in India is to serve as a common platform for Buddhists worldwide. The congregation in India was organized by the Asoka Mission. The new body was named as the International Buddhist Confederation which was decided to be based in India as Buddhists all over the world recognize India as the home of Buddha. This move could be proved to be an important one for a diplomatic row between India and China.

India Successfully test-fired N-capable Agni-I Missile

India successfully test-fired its nuclear capable Agni-I strategic ballistic missile on 1 December 2011 from the test range at Wheeler Island off Odisha coast, as part of the Indian Army's user trial. It was test-fired from a mobile launcher, from launch pad-4 of the Integrated Test Range (ITR). The Strategic Force Command (SFC) of the Army, as part of their training exercise, executed the trial with logistic support provided by Defence Research Development Organisation (DRDO) at the ITR. The trajectory of the missile, which had an operational strike range of 700 km, was tracked by sophisticated radars and electro-optic telemetry stations located along the sea coast and ships positioned near the impact point in the downrange area. Agni-I missile is equipped with a specialised navigation system which ensures it reaches the target with a high degree of accuracy. Agni-I was developed by Advanced Systems Laboratory (ASL), the premier missile development laboratory of the DRDO in collaboration with Defence Research Development Laboratory (DRDL) and Research Centre Imarat (RCI) and integrated by Bharat Dynamics Limited (BDL), Hyderabad. The last trial of the Agni-I missile was successfully carried out on 25 November 2010 from the same base. About Agni-I Agni-I strategic ballistic missile is an indigenously developed surface-to-surface missile It is a single-stage missile It is powered by solid propellants Agni-I can carry payloads up to 1000 kg It Weighed 12 tonnes It was 15-metre-long

Kishori Scheme for Adolescent Girls was launched by Delhi State Government
The state government of Delhi on 28 November 2011 launched a Kishori Scheme under which sanitary napkins would be distributed to adolescent girls. The scheme aims to promote menstrual hygiene among these girls. Under the Kishori Scheme, sanitary scheme will be provided to girls every month in their school.

The total expenditure on the scheme would be 1.05 crore rupees.

Supreme Court of India: Adultery Law Biased against Men

The Supreme Court of India on 1 December 2011 stated that section497 of the Indian penal Code is biased against men. The section punishes a man alone for adultery for having consensual sex with a married woman. As per the observation of the court, the provision of section 497 reduces a married woman to a property of the husband and it punishes man only despite the fact that the woman with whom he had consensual sex was an equal partner in the alleged crime. The court added that the provision is under criticism from certain sections for showing a strong gender bias. A bench of the Supreme Court including Justices Aftab Alam and R M Lodha made the above observation. Section 497 of IPC Section 497 of IPC states that whoever has sexual intercourse with a person who is and whom he knows or has reason to believe to be the wife of another man, without the consent or connivance of that man, such sexual intercourse not amounting to the offence of rape, is guilty of the offence of adultery, and shall be punished with imprisonment of either description for a term which may extend to five years, or with fine, or with both. In such case, the wife shall not be punishable as an abettor.

Social Activist & Narmada Bachao Andolan Leader Medha Patkar chosen for Basava award for 2010
The Karnataka State government on 1 December 2011 announced its decision to confer the prestigious Basava Sri Award for the year 2010 on noted environment activist Medha Patkar. Social activist and Narmada Bachao Andolan leader Medha Patkar was chosen for the Basava award for the year 2010 for excellence in service in the social sector. Basava Sri Award was instituted by the Karnataka government. Kannada and Culture Minister Govind Karjol declared the award carries a purse of Rs 10 lakh and a citation. It was also declared that the Jakanachari Award for the year 2009 and 2010 will be conferred on K C Puttannachar and Venkatachalapati respectively. The Amarashilipi Jakanachari' award is given to talented sculptors and craftsmen. The award was previously won by sculptors K C Puttanachar and Venkatachalapthi for the year 2009 and 2010 respectively. The Santa Shishunala Sharief Award for 2009 and 2010 is to be conferred on T V Rajuand B K Sumitra, respectively. Both Jakanachari Award and Santa Shishunala Sharief Award carry a prize money of Rs three lakh and a citation. The Karnataka government decided to felicitate noted Kannada writer S L Byrappa on being conferred with the prestigious Saraswathi Sanman award. On the occasion of announcing the names of the awardees, Kannada and Culture Minister Govind Karjol also called for an end to practices like the Devadasi system and made snana, a ritual held at Kukke Subramanya temple by devotees rolling on plantain leaves left after partaking food.

Exports Registered a Meagre 10.8 per cent Growth at $19.8 billion in October 2011
According to the data released by the Commerce Ministry, exports registered a meagre 10.8 per cent growth at $19.8 billion in October2011. Demand contraction in traditional markets such as Europe and the US coupled with Indian governments policies resulted in the dip in export. The growth rate was the lowest since October 2009 when it contracted by 6.6 per cent. Imports soared in October 2011 rising by 21.7 per cent at $39.5 billion, leaving a trade deficit of $19.6 billion. The trade deficit was the highest ever in any month in the last four years. The trade imbalance was attributed to expensive crude oil and vegetable oils. Export growth slipped to 44.25 per cent in August, 36.36 per cent in September and 10.8 per cent in October from a peak of 82 per cent in July 2011. In October, oil imports grew 20.73 per cent at $10 billion, whereas non-oil imports rose by 22 per cent to $29.4 billion. Exports aggregated to $179.7 billion, showing a handsome growth of 45.9 per cent in the April-October period. However, a steady rise of 30.9 per cent in imports for the seven-month period to $273.4 billion left the trade gap widening to $93.7 billion. During April-October, oil imports stood at $81.9 billion thereby marking an increase of 40 per cent. Non-oil imports rose by 27.1 per cent to $191.5 billion. Federation of Indian Export Organisations President Ramu S. Deora commented that exports would suffer in the third and fourth quarters of 2011-12. He also expressed serious concern over drop in exports in value terms for products such as engineering.

Italian Luxury Auto Maker Ferrari unveiled a $ 250000 Diamond Encrusted Book
Italian luxury auto maker Ferrari on 1 December 2011 unveiled a $ 250000 (over Rs 1.25 crore) diamond encrusted book depicting the history of the car maker. Antonio Ghini, Ferrari's longstanding communications director and editor-in-chief of The Ferrari Official Magazine was the creative advisor of the book, which was edited and designed by a team led by Ezster Karpati. The books description The book weighs 37 kg and has a 30-carat diamond studded Ferrari horse with about 1500 selected stones. The edition of the book, Enzo Diamante is limited to one copy per country. Ferrari India and Opus Media Group unveiled the Enzo Diamante's only edition for India is one of the most expensive books in India. The special edition is presented in a bespoke hand-crafted black carbon-fibre case, features three signature sheets, bearing those of the current Ferrari drivers in addition to former world champions. The leather cover binding sports a 16x12cm silver prancing horse - the Ferrari logo - encrusted with diamonds totaling 32.3 carats. The book has been personally signed by Ferrari F1 world champions such as Michael Schumacher and Fernando Alonso on a silver foil signature sheet, racing legends and current F1 drivers. It also bares a personal note by the Ferrari president.

Content of the book The official Ferrari Opus contains two lakh words and over 2000 pictures across 852 pages. Many of the photographs were specially commissioned or sourced from Ferrari's archives and were not published earlier. The 852-page book features more than 1000 images put together to paint the history of the iconic Ferrari. The Opus includes two metre long gatefold images as well as exclusive interviews with the motorsport legends who were part of Ferrari's unique history. The Ferrari Opus (diamante edition) traces the company's history from the time of its inception. With only one book being printed per country, India stands on number 63. The contributors to the book include legendary portrait photographer Rankin, Enzo Ferrari's biographer Leo Turrini, famous Ferrari designer Mauro Forgheiri, design guru Stephen Bayley and world champions like Niki Lauda, Michael Schumacher and Fernando Alonso.

SEBI issued Regulations for Uniform Know Your Client KYC Registration Agency (KRA)
Securities and Exchange Board of India (SEBI) put forth the regulations for uniform Know Your Client KYC Registration Agency (KRA) on 2 December 2011. The move is expected to benefit investors as it would save them the trouble of repeating the KYC process while investing in various financial products. The regulator allowed stock exchanges, depositories or any other Self Regulatory Organisation (SRO) to form wholly-owned subsidiaries that could be registered as a KRA. SEBI will consider applications to grant certificates of initial registration to a wholly owned subsidiary of a recognised stock exchange that have a nation-wide network of trading terminals, a wholly owned subsidiary of a depository or any other intermediary registered with the Board. The certificates of initial registration of KRA granted under sub-regulation would be valid for a period of five years from the date of its issue to the applicant. What is KRA? A KRA will make life simpler for investors who have to go through the entire KYC procedures each time they want to register with a new broker or a fund house. The role of a KRA will involve completion of the KYC procedures for a client and make it available to all capital market intermediaries that avail of its services. If there is more than one KRA, inter-operability will have to be put in place to avoid duplicacy. The KRA will be required to maintain a net worth of at least R25 crore on a continuous basis. SEBI mentioned that the KRA will be responsible for storing, safeguarding and retrieving the KYC documents and it will also have to retain the original KYC docu ments of the client, in both physical and electronic form.KRAs have the responsibility to appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines and instructions issued by the board or the central government and for redressal of clients grievances. The compliance officer will immediately and independently report to the Sebi board any non-compliance observed by him.

The Artist judged the Best Picture at 2011 New York Film Critics Circle Awards
The 2011 New York Film Critics Circle Awards announced its winners on 29 November on its official Twitter feed. The the black-and-white silent movie The Artist won the top prize of Best Picture. Michel Hazanavicius who directed The Artist was named the Best Director. John Anderson, the chairman of New York Film Critics Circle applauded The Artist calling it a celebration of cinema. Meryl Streep was dubbed the Best Actress for her portrayal of the former female English Prime Minister Margaret Thatcher in The Iron Lady. It was the fourth time she won the title from NYFCC. The Best Actor went to Brad Pitt who won the title for his roles as a baseball coach in Moneyball and as Mr. O'Brien in The Tree of Life. Jessica Chastain was named the Best Supporting Actress for her roles in Tree of Life,The Help as well as Take Shelter. Albert Brooks won the Best Supporting Actor title for starring in Drive. The special award for 2011was given to the Raoul Ruiz, Chilean filmmaker who made over 100 movies and passed away on 19 August 2011 at the age of 70. Steven Zaillian and Aaron Sorkin won best screenplay for Moneyballl while Emmanuel Lubezki won best cinematography for his work on The Tree of Life. About NYFCC The NYFCC, which was founded in 1935, consists of acclaimed New York-based critics who meet annually to vote on the best movies and actors of the year. This was the first time the group announced its winners on Twitter . In 2010 they had picked Facebook film The Social Network as the Best Picture.

In Assam, the Militant Outfit HPC-D declared a Unilateral Ceasefire

In Assam, the militant outfit Mar Peoples Convention-Democratic (HPC-D) on 2 December 2011 declared a unilateral ceasefire paving the way for peace talks with the Government. The outfit announced this before their cadres somewhere in a dense forest near the district headquarter of Halflong. The step was taken in response to Union Home Minister P. Chidambaram and Assam Chief Minister Tarun Gogois latest appeal to the militant outfits of the North-East to shun violence and to come for negotiations. The outfit announced it would not indulge in any kind of violence any more in the interest of creating a congenial atmosphere for the peace talks.

RBI approved Creation of Separate Category of Non-banking Financial Companies for MFI Sector

The Reserve Bank of India (RBI) on 2 December 2011 approved the creation of a separate category of non-banking financial companies for the microfinance institution (MFI) sector. The central bank also specified that such institutions need to have a minimum net owned fund of Rs 5 crore. An RBI-appointed panel headed by YH Malegam had earlier recommended setting up of a special category of NBFCs operating in the micro finance sector. The panel had suggested a minimum net worth of 15 crore for an entity to qualify as an NBFC-MFI. The RBI highlighted that the NBFC-MFIs should have a minimum net worth of Rs 5 crore. However, for those operating in the North-Eastern states, the slab was kept at Rs 2 crore. The RBI had in its second quarter policy review in October 2011 approved of setting up of this category of specialised financial companies which would cater to low-income groups.

Standard and Poors (S&P) assigned Stable Outlook to 10 Indian Banks

Credit rating agency Standard and Poors (S&P) assigned stable outlook to 10 Indian banks and kept their long term and shortterm issuer credit rating (ICR) at BBB- and A-3. As per S&Ps ratings definition, BBB- denotes a long-term issue rating that exhibits adequate protection parameters but shows a weakened capacity to meet obligations under adverse economic conditions. A-3 on the other hand is a short-term issue rating that exhibits adequate protection parameters but shows a weakened capacity to meet obligations under adverse economic conditions. Out of the top four Indian Banks in the list, S&P rated HDFC Bank highest on standalone credit profile (SACP) and offered it BBB+ while giving a BBB- to Axis Bank. State Bank of India (SBI) and ICICI Bank were assigned BBB. HDFC Banks business position was rated as strong, its capital and earnings and risk position were rated adequate, and its funding and liquidity position was concluded to be above average and strong. Customer deposits represent more than 90 per cent of HDFCs funding base. Its savings and current deposits, which are inherently low cost and stable, have been stable at about 50 per cent of the banks deposit base. Also HDFCs liquidity ratios were found to be noticeably stronger compared to the other players.

Flagship Explorer Oil and Natural Gas Corp (ONGC) announced Two Significant Oil Discoveries
State-owned Oil and Natural Gas Corp (ONGC) on 1 December 2011 announced two significant oil discoveries. ONGC discovered oil in North Kadi area of Gujarats Mehsana district, which is the companys major production centre. The discovery is a new layer, called play in industry parlance, and will add to the companys output. ONGC also made another strike in the Panna area, 40 km from its Mumbai offshore field. This discovery will make incremental addition to the output from a cluster that the company is developing. ONGC is to invest Rs 25000 crore in bringing to production nearly a dozen marginal oil and gas fields by 2014. Projects in pipeline

The 14 projects of ONGC entailed an investment of Rs 27305 crore. The Rs 506.22-crore development of D-1 field, Rs 219.77 crore SB-11 development and Rs 1,688.38 crore investment in development of Vasai East in western offshore have already been completed. Another 11 projects entailing an investment of Rs 24890 crore are under various stages of implementation. The biggest among the projects is B-193 Cluster development at the cost of Rs 5633.44 crore which would yield 5.57 million tonnes of oil and 5.12 billion cubic metres of gas in 15 years. The project is scheduled to be completed by June 2012. Another Rs 3,241.03 crore is being spent on Cluster-7 development by March 2013 to produced 9.73 million tonnes of oil and 4.52 billion cubic metres of gas over a period of 16 years. ONGC is also investing Rs 3,195.16 crore in producing 6.13 million cubic metres of condensate and 15.14 bcm of gas from CSeries field by 2022-23. Rs 2218.01 crore is being investment in integrated development of G-1 and GS-15 fields in for producing 0.982 million tons of oil and 5.92 bcm of gas over 15 years period beginning May 2012. ONGC is to invest Rs 2920.82 crore in producing 2.46 million tonnes of oil and 6.56 bcm of gas from B-22 Cluster, Rs 2,523 crore in WO-15 Cluster development for 2.83 million tonnes of oil and 8.58 bcm of gas and 2,163.65 crore in additional development of D-1 field.

SAIL Chairman C.S. Verma presented CEO of the Year Award by Minister of State for Road Transport
SAIL chairman C.S. Verma was conferred CEO of the Year award under public sector category by Minister of State for Road Transport Tushar Chaudhary in New Delhi on 2 December 2011. The award was presented to Verma in recognition of his contributions in the area of supply chain management. The ceremony was organised as part of Natcom 2011, a convention organised by IIMM with the theme: Achieving Inclusive and Sustainable Growth Role of Supply Chains. CEO of the Year award has been instituted by the Indian Institute of Materials Management.

Food-price Inflation Slowed to 8 per cent in the Week Ended 19 November 2011
Accordin to governemnts data released on 1 December 2011, food-price inflation slowed to 8 per cent in the week ended 19 November 2011 from 9.01 per cent a week ended 12 November. Slower growth in food prices will likely help headline inflation to settle between 6 and 7 per cent before the end of the financial year in March 2012. Prices of vegetable and cereals slowed but costs of fruits, milk, eggs, fish and meat did dip. the Wholesale Price Index (WPI) published on 1 December 2011 showed that vegetables were 5.13 per cent dearer year-on-year during the week under review. Onions became cheaper by 40.65 per cent year-on-year in the week ended 19 November, while potato prices were down by 10.98 per cent. Inflation for cereals dropped 0.89 percentage points to 1.97 per cent. Wheat prices were 4.71 per cent cheaper. Rice was 2.52 per cent dearer, its inflation having been 2.75 per cent in the previous week.

Fruits price however rose to 2.39 per cent and milk 0.95 per cent. Prices of eggs, meat and fish accelerated 1.57 per cent over the previous week.

Cabinet Committee on Economic Affairs approved Phase-3 of Yamuna Action Plan

The Cabinet Committee on Economic Affairs (CCEA) on 1 December 2011 approved 1656 crore rupees scheme for phase-3 of Yamuna Action plan. Under this project, the sewage treatment plants situated in Kondli, Rithala and Okhla will be rehabilitated. At present, the project is operational in 21 cities of Uttar Pradesh, Delhi and Haryana. The Indian government will execute the phase-3 of Yamuna Action Plan with help from Japan International Cooperation Agency (JICA). JICA is providing financial help since 1993. A new sewage treatment plant in Okhla will be set up by the government under this project. The new plant will help improve the water quality of Yamuna. This plant will have a capacity of holding 13.6 crore liter of water on a daily basis. The project will be implemented by the Delhi Jal Board (DJB) under the supervision of the department of Urban Development, Delhi government.

President Pratibha Patil constituted a Committee to increase the Productivity of Agriculture Sector
President Pratibha Devisingh Patil constituted a 12-member committee to study and recommend measures for increasing productivity, profitability and sustainability of the agriculture sector in India. The committee will work under the Chairmanship of Governor of Punjab and Rajasthan, Shivraj Patil. The committee will deliberate on the need for formulating requisite policy initiatives and legislative measures and prospects for investment in the agriculture and allied sectors among others. The Committee will also discuss on measures for transfer of innovations and cutting- edge technologies to the farm and allied sectors.

CCEA approved a Proposal for Additional Funds under the Interest Subsidy Scheme
The Cabinet Committee on Economic Affairs (CCEA) approved a proposal for additional funds under the interest subsidy scheme to the tune of over 2000 crore rupees. This scheme has been extended for the small and medium enterprises until March 2012. It also covers handicrafts, handloom and carpet sector. Approximately, 1654 crore rupees were released by the Reserve Bank of India as the interest subsidy claims so far. In another decision, the CCEA approved 1645 crore rupees proposal by Japan International Cooperation Agency, assisted Yamuna Action Plan Phase III project at Delhi.

The European Union slapped Increased Sanctions on Syria

The European Union slapped increased sanctions on Syria over continuing violence. International pressure is mounting on Syria to comply with the measures as per the Arab League's peace plan. European Union banned the purchase of Syrian bonds and the sale of surveillance software to the Syrian government. It also stopped EU companies from participating in oil or power projects in Syria. Arab League identified a list of 17 powerful people from Syria against whom the travel bans have been issued. These include the Syrian defence and the interior ministers. Meanwhile, the report released by the United Nations High Commissioner for Human Rights stated that more than 4000 people were killed in the crackdown on anti-government protesters in Syria.

Delhi state Assembly passed the Delhi Municipal Corporation (Amendment) Bill, 2011
The Delhi Assembly on 1 December 2011 passed the Delhi Municipal Corporation, MCD (Amendment) Bill -2011 to trifurcate the Civic body with voice vote. The move will help provide better amenities in the city. As per the bill, the MCD, which came into existence on 7 April 1958 under an Act of Parliament, will be divided into North, South and East Delhi municipal corporations and 50 per cent of total two hundred and seventy-two seats will be reserved for women as against current 33 per cent.

United Kingdom (UK) shut down the Iranian Embassy in London

The United Kingdom shut down the Iranian embassy in London and expelled all its staff in retaliation to the storming of the British diplomatic compound by an angry mob. They were asked to leave the UK within 48 hours. The British government also shut its embassy in Iran and evacuated the staff. France and Germany have both recalled their ambassadors to Iran for consultations following the attack on the U.K. embassy in Tehran.

Scientists designed a Network Proxy to cut the Power Consumption of 3G Smart Phones
A team at Aalto University in Finland claimed to have designed a network proxy, which can cut the power consumption of 3G smart phones up to 74%. The device improves performance and significantly reduces power usage by serving as a middleman for mobile devices to

connect to the internet and managing the most of the data transfer for the smart phone. This new device is valuable in developing countries like India because it provides more effective internet access to a much larger number of people.

The Parliament of Bangladesh approved Hindu Property Restoration Act

The Bangladeshi Parliament on 29 November 2011 passed a landmark bill, the Vested Properties Return (Amendment) Bill 2011 that will enable Hindus to reclaim their property taken over by the government and individuals. The land was taken under a controversial law enacted in the 1960s. It was implemented by the East Pakistan administration before Bangladesh became independent in 1971. The law was known as the Enemy Property Act initially and it allowed the authorities to confiscate land and buildings of Hindus who migrated to India. The act was renamed as the Vested Properties Act after independence. As per the law, property belonging to millions of Hindus who fled to India was taken over. The law came into effect in 1965 during Indo-Pak war.

IRDA launched Two Online Initiatives to Safeguard the Interest of Insurance-seekers

The Insurance Regulatory and Development Authority (IRDA) announced two online initiatives to safeguard the interest of insurance-seekers. The first of the two online initiatives is the extensive guidelines pertainining to web aggregators and the second one relates to the launch of a mobile application to compare unitlinked insurance policies (ULIPS) from various companies and their premium rates. Guidelines to web aggregators Web aggregators are sites like policybazaar.com, i-save.com, medimanage.com and click2insure.in that provide information on insurance products from various companies. The information so collated can help insurance-seekers compare premium rates for life, health, travel and motor insurance. Most portals just generate leads and not all offer the option to purchase a product online. However, some do facilitate an online buying process to the extent possible, usually by directing the insurance-seekers to the companies website. However, aggregators often sell visitors personal information to several insurers, resulting in customers being bombarded with sales calls from the companies or their agents. IRDA therefore directed the aggregators not to pass visitors information on to companies on the sites home page. To ensure that aggregators do no indulge in promoting products, the insurance regulator has decreed that they cannot display ratings, rankings, endorsements or bestsellers of insurance products on their websites. Similarly, they have been barred from commenting on insurers or their products. In addition, aggregators will from here on be required to highlight links to the product comparison charts and tables for each category of products covered by them. Items to be displayed include premiums quoted by each insurer as per age and other personal details, policy and premium term, sum assured, default underwriting requirements such as medical examination,

diagnostics, etc, and key features of the product chosen. The diktat also puts the onus of safeguarding and securing the entire process on the aggregators. Launch of the mobile application The launch of the mobile application, is intended to help insurance-seekers compare ULIPs launched after 1 September 2010. The tool, which works on Android, iPhone, Nokia and Blackberry platforms, has been termed a mobile application and can be accessed even via a personal computer. Users can search products for comparison through three options By company, Policy type and Keywords. Up to three products can be selected at a time for comparison, with the criteria listed being benefits offered, premium-paying term, tenure, charges and so on.

Global HIV/AIDS Response Epidemic Update released by the World Health Organisation
According to the UNAIDS report, drafted jointly with the UNICEF and the World Health Organisation (WHO) and released on 30 November 2011, India houses half of Asia's HIV patients and is way ahead of China in disease burden. India also featured in the list of 22 countries prioritised for preventing mother to child transmission infection. The report was titled- Global HIV/AIDS response Epidemic update and health sector progress towards universal access: progress report 2011. About 48 lakh people were living with HIV in Asia in 2010 and nearly half of them , 49 per cent were found to be living in India. The percentage of pregnant women who tested positive for HIV infection in India also rose from 2 per cent in 2005 t0 23 per cent in 2010. Seven Asian countries report an estimated 100000 or more people living with HIV in 2009, collectively accounting for more than 90 per cent of people with HIV in the region. India topped the list followed by China, Thailand, Indonesia, Malaysia, Myanmar and Vietnam, though the highest prevalence rate, one per cent, was observed only in Thailand. In Asia, the rate of HIV transmission appeared to slowdown. The estimated 360000 people who were newly infected with HIV in Asia in 2010 were considerably fewer than the 450000 estimated for 2001. Traditional risk groups: The report noted that the HIV epidemic is being stabilised among female sex workers and traditional risk groups in the six high-prevalence States including Karnataka. However the epidemics among men who have sex with men was found to be growing across the region including India. High prevalence: High prevalence, between 8 and 32 per cent of the disease was found among surveyed men who have sex with men in many Asian cities. The UNAIDS report quoted a study according to which the prevalence is 18 per cent in South India. The report also says that 35 per cent of children with HIV infection were receiving anti-retroviral therapy treatment. A 2009 survey had showed that HIV prevalence of 4.6 per cent among female sex workers in Mumbai and Thane and 24 per cent among street-based sex workers. The prevalence could be as high as 29 per cent among their brothel-based counterparts in some districts of Maharashtra.

Prevention programmes: Several prevention programmes was put to work in India. One such programme in Karnataka was associated with a drop in HIV prevalence from 25 per cent to 13 per cent among female sex workers in three selected districts between 2004 and 2009. A similar programme brought down the prevalence from 1.4 per cent to 0.8 per cent among young antenatal clinic attendees between 2004 and2008 in 18 districts. Another intervention programme in Mumbai and Thane led to a decline from 45 per cent HIV prevalence in 2004 to 13 per cent in 2010 among brothel-based sex workers.

HIV/AIDS in Europe and Asia A report titled HIV/AIDS surveillance in Europe 2010 noted a 2.5-fold increase in the total number of HIV infections reported in Europe since 20011. 500000 cases were diagnosed in the Russian Federation and almost 180000 AIDS cases were diagnosed in countries with no HIV surveillance data from before 20022004 (France, Italy and Spain). The total cumulative number of people diagnosed with HIV in the Region was about 1.4 million. In eastern Europe and central Asia, 43% of the new cases reported in 2010 were in people who inject drugs, slightly less than the 48% in people infected through heterosexual contact. In recent years, eastern countries experienced an increasing proportion of heterosexually transmitted HIV cases, which are likely to be associated with sexual transmission from drug injectors. In the western part of the Region, the epidemic remains concentrated among men who have sex with men (accounting for 39% of newly diagnosed cases in 2010) and migrants from countries with generalized epidemics (accounting for at least a third of heterosexually acquired infections). The estimated number of people dying from AIDS-related causes in eastern Europe and central Asia increased more than 10-fold between 2001 and 2010. Challenge to the HIV response in Europe The biggest challenge to the HIV response in Europe lies in increasing access to effective and life-saving treatment, especially in eastern Europe and central Asia, where only 23% of those believed to need antiretroviral treatment were receiving it in 2010. This is well below the global average of 47% for low- and middle-income countries. To reduce mother-to-child transmission, the European Region had a rate of 88% coverage with antiretrovirals for HIV-positive pregnant women in 2010, surpassing the United Nations target (80%) and the global average for low- and middle-income countries (59%). European Action Plan Faced with this alarming rise, the 53 Member States in the Region endorsed the new European Action Plan for HIV/AIDS 2012 2015. The new European Action Plan for HIV/AIDS 20122015, adopted in September 2011 by the 53 countries in the WHO European Region and officially released on 30 November 2011, is an urgent call for action on this public health challenge.The European Action Plan represents an excellent roadmap for national strategies and responses.

Governments Oil Marketing Companies (OMCs) reduced Petrol Prices by Rs 0.78 per litre
The governments three oil marketing companies (OMCs) on 29 November 2011 cut petrol prices by Rs 0.78 per litre. It would now cost Rs 65.64 in Delhi against Rs 66.34 earlier. Earlier in November 2011 there was a cut of Rs 3.2 per cent in petrol prices. Losses on retail sale of diesel, kerosene and LPG was moved up.The petrol cut is the second since the fuels price was decontrolled in June 2010. The price of aviation turbine fuel was raised by 3.7 per cent, to Rs 64,622 per kl (Delhi). Motor spirit or petrol prices internationally moved down significantly from $116 per barrel to $109 (in the current fortnight), while the exchange rate weakened further from Rs 49.32 to Rs 51.50 per dollar. The combined impact resulted in an overrecovery (margin) of Rs 0.65 per litr. Price of petrol is callculated on the basis of its trade parity (80 per cent import price weight and 20 per cent export price weight) for the previous fortnight. Petrol prices have moved up by nearly 39 per cent since decontrol. During the same period, the price of diesel, still regulated, increased by just 7.37 per cent, to Rs 40.91 per litre. Under-recovery or revenue loss on diesel had moved up from Rs 10.17 to Rs 12.03 per litre and on kerosene from Rs 25.66 to Rs 28.56 per litre. On domestic LPG, the loss widened from Rs 260.50 to Rs 286.50 per cylinder. Petrol has a 1.09 per cent weighting in the overall wholesale price index basket and a price cut by Rs 1.80 a litre essentially implies easing of headline inflation by 0.27 percentage point.

SEBI Investor Protection & Education Fund to be headed by KV Kamath

Securities and Exchange Board of India (SEBI) on 23 November 2011 constituted advisory committee for SEBI Investor Protection and Education Fund. The committee consist of eight member. The committee is to be headed by Infosys chiarman KV Kamath. The eight-member committee under the ICICI Bank chairman comprises five external members and three SEBI officers. The eight-member panel also consists of Abraham Koshy, professor at IIM Ahmedabad; Jayashree Vyas, MD, Shri Mahila SEWA Sahkari Bank and Ramesh Narayan, communications consultant, among others. SEBIs ED Ananta Barua and chief general managers GP Garg and VS Sundaresan will represent the regulator. The committee will recommend investor education and protection activities that may be undertaken directly by the board, or through any other agency, for utilisation of the SEBI Investor Protection and Education Fund for the purposes stated in the SEBI regulations, 2009. The committee will look at investor education and protection activities that SEBI could undertake directly or through any other agency. According to the norms for SEBI IPEF, the fund can be also be used to aid investor associations, recognised by the regulator as well as undertake legal proceedings in the interest of investors in securities that are listed or proposed to be listed. It can also be used for awareness programmes and educational activities.

GDP Growth in the First Half (April-September) of FY 2011-12 Moderated to 7.3%

As per the data released by the government on 30 November 2011, Gross domestic product (GDP) growth in the first half (AprilSeptember) of financial year 2011-12 moderated to 7.3 per cent from 8.6 per cent in the first six months of 2010-11. The economic growth for the July-September quarter slowed to an annualised 6.9 per cent, due to two years of progressive monetary tightening, low domestic business confidence and a retreat of foreign capital. Causes that prompted the fall in GDP The continued debt crisis in the Eurozone and the economic slowdown in the U.S. also impacted the economic parameters of labour-intensive industries as manufacturing took a big hit. Growth during the July-September period of 2011-12 fell mainly due to poor manufacturing performance and declining output of the mining industry. There was also a moderation in agriculture growth as well. Rising inflation, continued political and economic uncertainty, rising interest rates, unstable economic order and slow pace of reforms negetively impacted growth. Tight monetary policy followed by the Reserve Bank of India to tame inflation led to a drop in the manufacturing sector growth rate to 2.7 per cent in July-September from 7.8 per cent in the corresponding quarter of 201011. The mining and quarrying sector output declined by 2.9 per cent, compared to 8 per cent in the second quarter of 2010-11. Agriculture production slipped to 3.2 per cent from 5.4 in the corresponding period last fiscal. GDP growth in the second quarter last fiscal stood at 8.4 per cent. The RBI lowered its growth projection for the current fiscal to 7.6 per cent from an estimated 8 per cent. India Inc blamed the decline on tight monetary policy, which has increased the cost of borrowings and thereby slowed down growth by hindering fresh investment. Analysis Headline inflation has been above the 9 per cent mark since December 2010. The government and the RBI accepted that high interest rates would hurt the country's growth prospects. The central bank however underlined that bringing inflation under control is its major agenda. India's economy grew at the slowest rate for more than two years in the second quarter July-September quarter of 2011-12, confirming the country's shift to lower growth rates of about 7 per cent. India's policymakers could not manage to tame inflation raging at near double-digit levels. The last time India's gross domestic product growth fell below 7 per cent was in the quarter to June 2009, when it was struck by the effects of the global financial crisis in western economies. The drop in the July-September quarter from the 7.7 per cent recorded in April-June quarter is likely to raise questions over whether India can achieve the government's official target for economic growth in the 2012 fiscal year of 8.5 per cent.

Private Sector Lender HDFC Bank launched Premium Credit cards Exclusively for Women
Private sector lender HDFC Bank launched premium credit cards exclusively for women on 30 November 2011. HDFC expects to add 4 million credit card customers in the next two years. The bank has about six million credit card customers. Of this, 1.5 million customers are women. The card Solitaire introduced exclusively for women has a credit limit of up to 2 lakh. The bank also launched a special card, Solitaire Premium, with a credit limit of Rs 5 lakh for women. Solitaire will provide unmatched lifestyle offers, its wellness aspects will help women take holistic care of themselves in the midst of a busy career. Solitaire is expected to fulfil a long-standing need of women who are pursuing a successful career, travelling the world and are at the forefront of the global consumption story. The bank, which is the biggest issuer of credit cards in the country decided to come out with new credit card products including co-branded card every quarter.

India and Nepal signed Revised DTAA (Double Taxation Avoidance Agreement)
India and Nepal on 27 November 2011 signed a revised Double Taxation Avoidance Agreement (DTAA). This will help prevent tax evasion and facilitate exchange of information on banking between the two countries. DTAA, will allow Indian traders and investors to enjoy tax relaxation in India once they pay taxes in Nepal. The agreement is also likely to increase confidence of investors and help Nepal attract more investment from India.

The revised DTAA between India and Nepal will replace an earlier agreement signed between India and Nepal in 1987. Important Information Indian firms are the biggest investors in Nepal. They account for about 47.5 per cent of total approved FDIs (Foreign Direct Investments). India is the biggest source of foreign investments in Nepal and its largest trading partner. However, Nepal accounts for only 0.44 per cent of India's total trade. The bilateral trade between India and Nepal increased from USD 1.98 billion US dollars in 2009-10 to around 2.70 billion US dollars in 2010-11, which is an increase of 37 per cent.

Manipur decided to Extend the Disturbed Area Status for another One Year

In Manipur, Cabinet on 29 November 2011 decided to extend the Disturbed Area Status for another one year in the state except the seven assembly constituencies under the Imphal Municipal Area where the Armed Forces (Special Powers) Act was already withdrawn.The Cabinet reviewed the prevailing situation in the state. The Cabinet meeting also discussed reports on the Police, Assam Rifles and Army regarding the law and order situation in Manipur.

A Team of Scientists identified Bone marrow Cancer Genes

Scientists identified genes that can increase a persons risk of developing multiple myeloma by 30 percent. Multiple myeloma is an aggressive form of bone marrow. A team at the Institute of Cancer Research used a technique known as genome wide association study to scan the DNA of 1675 patients with multiple myeloma. When results were compared, scientists found that two regions of the DNA that were more common in people with multiple myeloma and were therefore linked to a higher chance of developing the disease. Multiple myeloma is also known as plasma cell myeloma or Kahler's disease. It is a cancer of plasma cells, a type of white blood cell responsible for the production of antibodies.

Soviet Dictator Joseph Stalins Daughter, Lana Peters died of Colon Cancer in Wisconsin
Soviet dictator Joseph Stalins only daughter, Lana Peters, who had defected to the US while in India at the height of the Cold War died on 22 November 2011 in Wisconsin. At her birth, on 28 February 1926 she was named Svetlana Stalina, the only daughter and last surviving child of the brutal Soviet tyrant Josef Stalin. After Stalin died in 1953, she took her mothers last name, Alliluyeva. In 1970, after her defection and an American marriage, she became and remained Lana Peters. Life of Joseph Stalins only daughter, Lana Peters She graduated from Moscow University in 1949 with history. She initially workied as a teacher and translator. Her defection in 1967 to the US was partly motivated, among other things, by the poor treatment by Soviet authorities of Indian communist Brijesh Singh, with whom she had a relationship. She left the Soviet Union in 1966 for India, where she planned to leave the ashes of Singh who had died in the USSR. Instead of returning to her country, she walked unannounced into the US embassy in New Delhi and asked for political asylum. Upon reaching the US in April 1967 she burned her passport, denouncing communism and her father, whom she called a moral and spiritual monster. She took the name Lana Peters upon marrying architect William Wesley Peters in the US. Peters became a United States citizen in 1978.

She wrote four books, including two best-selling memoirs. Her first memoir, Twenty Letters to a Friend, was published in 1967 and made more than $2.5m (1.6m). In 1969 she recounted her journey from the Soviet Union in a second memoir, Only One Year. She returned to the Soviet Union briefly in 1984, renouncing the US. However she left again for Georgia after her feud with relatives. During the latter years, she constantly moved from America to England, then to France, then back to America, gradually fading from the public eye. Other famous exiles from USSR: Igor Gouzenko -spy, 1945, Canada; Rudolf Nureyev - ballet star, 1961, France; Anatoly Golitsyn - KGB officer, 1961, Finland; Alexander Solzhenitsyn - dissident writer, 1974, expelled to US; Natan Sharansky, human rights activist - 1986, Israel

Vishwakarma Rashtriya Puraskar & National Safety Awards presented for Performance Year 2009
Union Labour and Employment Minister Mallikarjun Kharge presented the Vishwakarma Rashtriya Puraskar and National Safety awards for the performance year 2009 at a function in New Delhi. For the performance year 2009, the total number of National Safety Awards were 123 (72 winners and 51 runners-up). Vishwakarma Rashtriya Puraskar Vishwakarma Rashtriya Puraskar (VRP) is awarded in recognition of outstanding suggestions given by a worker or group of workers and implemented by the management during the previous calendar year (Performance year) that result in improvement in quality, productivity and working conditions such as safety, health and environmental conservations in the industrial undertakings where Suggestion Schemes are in operations. The financial savings, due to adopted and implemented suggestions of the winning applications of the VRP in 2009 was 1082.85 crores recurring and 94.83 crores non-recurring in Indian currency and 21.73 crores recurring & 29.59 crores nonrecurring in Foreign Exchange. VRP is awarded in the form of cash prize and a certificate of merit in three classes- Class A 5 winners win Rs. 75000 each, Class B Eight winners win Rs. 50000 each and Class C 15 winners win Rs. 25000. For 2009 performance, 28 puraskars Vishwakarma Rashtriya Puraskar were shared by 117 winners. National Safety Awards The National Safety Awards is given in recognition of outstanding safety performance of industrial establishments, construction sites, ports and installations under AERB to stimulate and maintain the interests of both the management and the workers in accident prevention programmes. For the performance year 2009, the total number of National Safety Awards were 123 (72 winners and 51 runners-up). NSA are given under twelve schemes, out of which ten are meant for Factories/Construction sites/Installations under AERB and two are for Ports. Under each award, a Shield and a Certificate of Merit is given to each of the Award Winners and Runnersup. The establishments are classified in different schemes on the basis of working of highest man-hours.

The criteria for presentation of these awards is: Lowest average frequency rate over a period of three consecutive years ending in the Performance year as compared to the National Average for that group of industries; Accident Free year based on man-hours worked during the contest year. How the awardees are selected The Vishwakarma Rashtriya Puraskar (VRP), previously known as Shram Veer National Awards as well as the National Safety Awards (NSA) was instituted by the Union Ministry of Labour and Employment in 1965. The Awards Schemes are operated by the Technical Wing of the Ministry, namely, the Directorate General Factory Advice Service and Labour Institutes (DGFASLI), Mumbai. The applications for Viswakarma Rashtriya Puraskar (VRP) & National Safety Awards (NSA) from eligible applicants are invited every year. For VRP, the management is required to send the application on behalf of the workers and for NSA the management directly applies for awards under each scheme. The applications received for VRP as well as NSA are then adjudged by a Tripartite Awards Committee constituted by the Ministry of Labour and Employment, comprising of representatives from Employers organizations, Employees Organisations and Central/State Governments. Besides the Tripartite representation, experts in the Committee from renowned institutions, Universities and Industries in the field of Safety, Health, Environment, Productivity and Quality also judge the applications.

Nagas lifted Economic Blockade from Manipur after 121 Days

The United Naga Council (UNC) on 29 November 2011 decided to lift the economic blockade from Manipur following assurance from Union home affairs minister P Chidambaram. The UNC was spearheading the blockade on the two national highways since 21Aug 2011 to counter the economic blockade launched by the Sadar Hills District Demand Committee (SHDDC) on Aug 1. SHDDC is demanding conversion of the Kuki tribal majority Sadar Hills area into a district. The SHDDC lifted the blockade on two highways; Imphal-Dimapur-Guwahati (NH39) and Imphal-Jiribam-Silchar (NH53) on the 92nd day after the Manipur state government agreed to their demand of creating a district. The Nagas are against this move.

The World's First Test Tube Eld's Deer born at Khao Kheow Zoo in Thailand
The first Elds deer was born via in vitro fertilization in Thailand. The researchers at the Smithsonian Conservation Biology Institute (SCBI) collected eggs, inseminated in vitro with thawed semen to produce embryos and transferred the embryos to a surrogate mother. As a result, a fawn was born on 17 October 2011 at the Khao Kheow Open Zoo in Thailand. The Smithsonian Conservation Biology Institute plays a key role in the Smithsonians global efforts to conserve species and train future generations of conservationists. Eld's Deer is also known as the Thamin or Brow-antlered Deer. It is an endangered species of deer indigenous to southeastern Asia.

Indian Refiners Processed 2.8% Less Oil in October 2011, the 1st Decline since November 2010
According to government data released on 25 Novevember 2011, Indian refiners processed 2.8 percent less oil in October 2011 from a year ago, the first decline since November 2010. The country's crude oil output in October declined 0.9 percent to about 760000 bpd. The annual rate of growth declined in October due to maintenance shutdown at refiners of Indian Oil Corp, Mangalore Refinery and Petrochemicals and Essar Oil. Units at IOC's 160000 Mathura plant in northern India were shut for maintenance in October 2011. Refiners processed about 3.12 million barrels per day (bpd) of crude oil in october as against 3.10 million bpd in September, when crude processing was up an annual 4.4 percent. Output at Reliance's bigger 660000 bpd plant was up 9.6 percent in october. Reliance Industries, whose two refineries at Jamnagar in western Gujarat state account for about a third of India's refining capacity, does not report data for its 580000 bpd export-focused plant to the government. The production of Essar Vadinar refinery, also in Gujarat, declined 79.4 percent. Essar shut its refinery in mid-September to raise capacity to 375000 bpd. The plant resumed operations on 24 Oct 2011 while a crude unit at MRPL's plant came back online in mid-October. Natural gas output declined 7.4 percent to about 4.03 billion cubic metres in October from a year ago as production from the Reliance-operated D6 block in the east coast declined after touching about 60 million cubic metres per day in 2010. However it must be noted that crude processing by the 120000 bpd Bina refinery in central India, which came onstream earlier in 2011 was not included in the government data. India, the world's fourth-biggest crude importer, produces only a fraction of its overall needs. India's oil output is expected to rise an annual 1.3 percent to 763800 bpd in fiscal year 2011-12, while natural gas production is likely to move down to 51.68 billion cubic meters.

British Sky Broadcasting Group PLC, James Murdoch re-elected as Chairman of the Group
British Sky Broadcasting Group PLC chairman James Murdoch was re-elected on 29 November 2011 in the companys annual general meeting. He was re-elected to the position of chairman though he faced a powerful protest vote from the satellite-TV company's independent shareholders. News Corp., run by James's father, Rupert Murdoch, owns 39.1% of BSkyB. British Sky Broadcasting Group comprises film and television production as well as newspaper publishing and other activities. Accounting for all votes cast, Murdoch was supported by 76.9% of shareholders, while 17.8% opposed him and 7.3% of votes cast were withheld. 31.4% of votes were cast against the Murdoch at BSkyB's annual meeting in London, while 12.9% were withheld. That effectively amounts to a protest vote in which more than 44% of the voted independent shares withheld their support from James Murdoch.

He won re-election primarily because the Murdoch family and Saudi investor Prince Alwaleed bin Talal together control nearly half the voting shares. The Scandal News Corporation, parent company of News International, owns 39 per cent of BSkyB and its multi-million pound bid to acquire the remaining 61 per cent was derailed earlier in 2011 by the hacking controversy. News Corp, which owns 39 per cent of BSkyB, is also the parent company of News International (NI), of which Murdoch is the chairman. Key shareholders had voted against James Murdoch because of his links with the News of the World phone-hacking scandal. The News of the World had allegedly resorted to phone hacking and other illegal or unethical reporting tactics. U.K. police is currently probing the phone hacking and other wrongdoing related to the News of the World.

Delhi State Government launched Kishori Scheme for Adolescent Girls

Delhi state government on 28 November 2011 launched Kishori Scheme under which sanitary napkins would be distributed to adolescent girls. Delhi becomes the first state in India to reach out to as many as 7.5 lakh girls with this scheme, which aims to promote menstrual hygiene among these girls. Under the Kishori Scheme, sanitary scheme will be provided to girls every month in their school. The total expenditure on the scheme would be 1.05 crore rupees. The scheme would be implemented in 729 schools from 1 December 2011 and it would cover girls studying from class VI to class XII.

Eminent Assamese Litterateur and Jnanpith Award Winner, Indira Goswami died in Guwahati
Eminent Assamese litterateur and Jnanpith award winner, Indira Goswami, popularly known as Mamoni Raisom Goswami passed away in Guwahati on 29 November 2011. Dr. Goswami authored several bestseller Assamese novels and short story collections in her life time. She was also instrumental in initiating peace talks between the government and insurgent United Liberation Front of Asom (ULFA). Work of Indira Goswami Born in 1942, Goswami was encouraged by Kirti Nath Hazarika who published her first short stories in a literary journal he edited. At 20, she published her first collection of short stories Chinaki Morom. Goswami had served as a professor of modern Indian languages at Delhi University. Classics such as The Pages Stained with Blood and The Moth Eaten Howdah of a Tusker were written during her stint in Delhi University. Goswami was an expert in Ramayani studies. Goswami authored several award winning books which include Datal Hathir Uwe Khowa, Neelakantha Braja, Mamore Dhora Tarowal, Ahiron, Chenabor Srot, Dasarathir Khoj, Tej Aru Dhulire Dhusaritha Prishta, Udaybhanur Charitra, Chhinmastar Manuhto and her autobiography Adha Lekha Dastavej. Her treatise Ramayana from Ganga to Brahmaputra is considered a literary masterpiece. Awards she received

She won the Sahitya Akademi Award for her powerful novel Mamare Dhara Tarowal Aru Dukhan Upanyasa in 1982 and the Jnanpith Award in 2000. She was also a recipient of the Katha Award, the Karnataka Sangha Sammam, the Manas Chatuechati Samiti Samman, the Kamal Kumari Foundation National Awards, the Sauhardya award and the Bhart Nirman award. She was India's first Principal Prince Claus Laureate in 2008. Indira Goswami as peace maker Dr. Goswami in 2004 mediated between the Centre and the ULFA and succeeded in convincing both the government and the ULFA to come forward for negotiations. Her initiative led to the formation of the Peoples' Consultative Group (PCG) by the ULFA to prepare the ground for peace talks. She had prepared ground for talks between the two sides. She had acted as the sole mediator between Prime Minister Manmohan Singh, her former colleague at Delhi University, and the ULFA leadership. She had prepared and submitted the first draft peace proposal to Singh. Later, she had played a key role when the Sanmilta Jatiya Abhbartan, an umbrella body of civil society organisations of Assam, facilitated the resumption of dialogue between the ULFA and the Centre.

Justice M. Karpaga Vinayagam was reappointed Chairperson of Appellate Tribunal

Justice M. Karpaga Vinayagam was in November 2011 reappointed chairperson of the Appellate Tribunal for Electricity, Petroleum and Natural Gas on the recommendations of Chief Justice of India S.H. Kapadia. Justice Karpaga Vinayagam had first assumed office on 14 November 2008. He will serve in the capacity of chairperson of the Appellate Tribunal for Electricity, Petroleum and Natural Gas for three more years in his second term. He is entitled to a monthly salary and such allowances and other benefits as are admissible to a Supreme Court judge. Under his supervision during his first term, the tribunal had disposed of 1278 appeals/petitions/ interlocutory applications pertaining to consumer interests. He ensured that in all States, the posts of ombudsmen and the grievance redress forums became functional. He directed the formation of State Regulatory Commissions wherever they did not exist. Justice Karpaga Vinayagam initiated steps for holding Circuit Bench sittings of the tribunal in Chennai, Kolkata and Mumbai for the southern, eastern and western regions. The holding of the Circuit Bench is expected to provide relief to advocates and parties who have represented that it is difficult for them to go to Delhi every time. Justice Karpaga Vinayagam was a judge of the Madras High Court from 1996 to 2006. Following which he served as Chief Justice of the Jharkhand High Court till retirement in May 2008.

The Union Government of India approved MCD (Municipal Corporation of Delhi) Trifurcation

The Union government of India on 23 November 2011 approved the Delhi Municipal Corporation (Amendment) Bill 2011, thus paved the way for dividing MCD into 3 corporations and to increase the reservation of seats for women to 50 percent from the current 33 percent. MCD is Asias largest civic body. The Bill proposes that MCD( Municipal Corporation of Delhi) should be divided into three separate corporations East Delhi Municipal Corporation, North Delhi Municipal Corporation, South Delhi Municipal Corporation and 50 per cent reservation for women and three different Mayors for three corporations and setting-up of Directorate of Local Bodies (DLB) which would be headed by director. As per Amendment Bill, the civic body in East Delhi will have 64 wards, while the new civic bodies in North and South Delhi will have 104 wards each. Both North and South Delhi municipality will have 26 Assembly constituencies each, while the 16 Assembly segments will be covered under the East Delhi municipality. The municipal wards would remain 272. As per Amendment Bill, the MHA (Ministry of Home Affairs) would retain supervisory powers that include administrative issues, dissolution of MCD, appointments of Commissioners and Deputy Commissioners and amendments in the Act. At present, the Lieutenant Governor of Delhi is the administrator of the MCD. Lieutenant Governor will only have emergency powers to dissolve the agency in case of any financial or other impropriety after the bill becomes an Act. The Delhi government had sent the proposal to Home Ministry in June 2011 seeking the approval for trifurcation of the MCD (Municipal Corporation of Delhi). The Home Ministry had in September 2011 returned the proposal to the city government asking it to furnish details on the administrative structure, distribution of funds and the proper coordination among three proposed bodies.

Kuwaits Prime Minister and Cabinet Resigned amid Accusations of Corruption

Kuwaits Prime Minister Sheikh Nasser Mohammad al-Ahmad al-Sabah and the Cabinet resigned on 28 November 2011 amid accusations of corruption. Kuwaits emir, Sheikh Sabah Al Ahmed Al Sabah, accepted the resignation. Opposition groups, liberals, Islamists, student associations and rival chiefs organised a mass rally in the Erada Square pressing for their demands. The opposition accused Sheikh Nasser of transferring public funds into his overseas bank accounts. The Kuwaiti Government denied these charges. Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra.

Supreme Court: Awards passed by the Lok Adalat bound to be implemented through a Court Decree
The Supreme Court ruled on 28 November 2011 that awards passed by the Lok Adalat either in criminal or civil matters are bound to be implemented through a court decree if parties after reaching a compromise fail to stick to it. The court added that any award passed by the Lok Adalat is deemed to be a decree and will be executed by a court if either parties to the dispute retracts on the agreement reached before the Lok adalats.

A bench of justices P Sathasivam and J Chelameswar passed the judgement while allowing the appeal filed by a person named K N Govindan Kutty Menon challenging an Ernakulam civil court judgement that awards passed by the Lok Adalat cannot be enforced by courts. The Kerala High Court had upheld the civil courts judgement, following which Menon appealed in the apex court.

Government set up Expert Group to Suggest Restructuring of Power Utilities of Seven States
The UPA-II Government set up an expert group to suggest restructuring of power utilities of seven major States, including Tamil Nadu and Uttar Pradesh with an objective to push through power reforms and unlock the power sector. The government is to initiate a major reform in the shape of open access allowing consumers of above 1 MW to choose their preferred electricity supplier. The plan for reforms follows a recent government report that revealed that the accumulated losses of the power utilities across the country ran into Rs.1.50-lakh crore and annual losses were around Rs.55.000 crore. Task of the Expert Group The expert group headed by Planning Commission member (Energy) B. K. Chaturvedi is expected to submit its report by March 2012. The group was entrusted with the responsibility to make an assessment of the cumulative losses of distribution utilities of seven major States, including Uttar Pradesh, Tamil Nadu and Rajasthan. It was asked to suggest a strategy for capital restructuring of these power discoms (distribution companies), including commitment by other stakeholders like State governments. It will also have to suggest a road map and monitoring mechanism for implementing the above. Open Access Some of the interim recommendations on the issue of open access have already been submitted. Under the recommendations on Open Access, it was suggested that distribution licences should inform all consumers of 1MW and above that they could choose their electricity supplier. Other suggestions includes: State power utilities should provide power to open access consumers at negotiated rates and not regulated rates, the State Electricity Regulatory Commissions should specify reasonable tariffs to be charged by distribution companies for providing standby supply, State load despatch centres should be upgraded in a time-bound manner to enable open access and 25 per cent of discretionary allocation of 15 per cent of central public sector undertakings generation must be made available for direct sale to open access consumers.

Roger Federer won Singles Final Tennis Match at Barclays ATP World Tour Finals
Swiss tennis star Roger Federer defeated Jo-Wilfried Tsonga of France in their singles final tennis match at the Barclays ATP World Tour Finals, in the O2 arena in London on 27 November 2011. The victory earned him a record sixth ATP World Tour

Finals title. The victory also helped him move ahead of Pete Sampras and Ivan Lendl on the list of Tour Finals champions in the 100th final of his career. Federer has won 70 trophies in his career and has also equalled Lendl's record of 39 match wins in the end-of-season event. Federer received the winners' cheque worth $770,000. For the first time since 2002 he ended the season without a Grand Slam title.

30% Sourcing under FDI in Multi-brand Retail made Mandatory from Indian MSEs Only
The Union government on 28 November 2011 asserted that 30 per cent sourcing under FDI in multi-brand retail has been made mandatory from Indian MSEs only. The government highlighted that the 30 per cent obligation before the global players is limited to India. The governments explanation came amidst protests from the opposition and the micro and small enterprises (MSEs). The governments assertion however was found to be in total contrast to the note issued earlier which stated that the 30 per cent sourcing by global retailers can be done from anywhere in the world and is not India-specific. The provision for procurement from small units would not violate the WTO obligations. According to governments previous stand, the overseas players have to do 30 per cent of their sourcing from MSEs which, however, can be done from anywhere in the world and is not India-specific. The only condition placed was that these MSEs must not have more than $1 million [Rs.5 crore] investment in plant and machinery. Small enterprises had raised concerns over the clause of 30 per cent sourcing from MSEs anywhere in the world, complaining that it would help the cheap Chinese goods rather than Indians in view of cheaper labour available in China. Union cabinet on 24 November 2011 approved 51 per cent foreign direct investment (FDI) in multi-brand retail. The Cabinet also decided to raise the cap on foreign investment in single-brand retailing to 100 per cent from 51 per cent.

Afghanistan awarded Mining Rights for Three Hajigak Blocks to Indian Consortium led by SAIL
Afghanistan on 28 November 2011 awarded mining rights for three of the four Hajigak blocks located at the central Bamyan province to an Indian consortium led by state-run Steel Authority of India (SAIL). The four blocks in Hajigak are estimated to hold more than 1.8 billion tonnes of iron ore with 62% ferrous content. This is the first time an Indian consortium successfully bid for a large mine, reversing a depressing trend of the past where Indian consortiums had failed to acquire overseas resources, losing out mainly to Chinese groups.

A seven-member consortium of Indian companies led by Steel Authority of India bagged the rights to mine iron ore at Hajigak in Afghanistan. The Indian consortium, called AFISCO for Afghan Iron and Steel Consortium, includes three state-run firms - SAIL, National Mineral Development Corporation and Rashtriya Ispat Nigam. It also includes four private steelmakers - JSW Steel, JSW Ispat, Jindal Steel and Power and Monnet Ispat. While SAIL is the largest stakeholder with a 20% holding in the consortium, RINL and NMDC hold 18% each. JSW Steel and Jindal Steel have 16% each. JSW Ispat owns 8% stake, while Monnet Ispat has 4%. The consortium will develop the mines, build a 7-million tonne steel plant and an 800 mw power plant. The Indian syndicate will be allotted coking coal from Shabasha for steelmaking. The rights to a fourth block at the deposit had been won by Canada's Kilo Goldmines Ltd.

Public Debt Management Report by Finance Ministry showed Increse in Government's Internal Debt
According to the the quarterly public debt management report released by the Finance Ministry on 28 November 2011, the Indian government's internal debt rose during the second quarter (July-September) of 2011-12. The government had to pay higher interest to raise funds. The internal debt to GDP ratio increased to 32.3% of GDP during second quarter of 2011-12 from 31.4% in the April-June quarter. The flatter yield curve, indicating small difference between short term and long term rates, made more sense to raise longer tenure funds. The average maturity of outstanding government securities increased to 9.68 years during the Junuary-September quarter in 2011 from 9.58 years during the October-December quarter of 2010. The bonds maturing in one year also reduced to 4.25% during the second quarter of 2011-12 fiscal from 5.33% in the previous quarter. As per the report, flat yield curve and market appetite, issuance under shorter maturities was reduced during the quarter taking into consideration rollover risk

Eccentric British Film Director Ken Russell known for making Controversial Films died
The acclaimed and eccentric British film director Ken Russell died on 27 November 2011. The director was known for a florid adaptations of classic literature and over-the-top biopics that ranged from perverse

to merely provocative. Russell is best known for controversial films including Women In Love and The Devils. Music played a central role in much of his work including The Music Lovers, and Tommy and Lisztomania. About Ken Russell Henry Kenneth Alfred Russell born on 3 July 1927 in England was an English film director, known for his pioneering work in television and film and for his flamboyant and controversial style. He attracted criticism for being obsessed with sexuality and the church.In his famous film The Devils, Vanessa Redgrave played a nun who is vividly tortured. The church and the critics disgusted by the film's excesses and sadomasochism had objected. He is best known for his Oscar-winning film Women in Love (1969), The Devils (1971), The Who's Tommy (1975), and the science fiction film Altered States (1980). Classical musicians and conductors held him in high regard for his story-driven biopics of various composers, most famously Elgar, Delius, Liszt, Mahler and Tchaikovsky. He had moved into television work after short careers in dance and photography. His series of documentary Teddy Girl photographs were published in Picture Post magazine in the summer of 1955, and he continued to work as a freelance documentary photographer until 1959. He worked with the BBC from 1959 to 1970 making arts documentaries for Monitor and Omnibus. Russell's first feature film was French Dressing (1963), a comedy loosely based on Roger Vadim's And God Created Woman. Russell in 1969 directed what is considered his signature film, Women In Love, an adaptation of D. H. Lawrence's novel of the same name about two artist sisters living in post-World War I Britain. Glenda Jackson won the Oscar for Best Actress in a Leading Role for her performance in Women In Love. Russell himself was nominated for an Oscar for Best Director for Women in Love. The film was BAFTAnominated for the costume designs of Russell's first wife, Shirley. Ken Russell (1927-2011) won a BAFTA in 1969 for creative contribution to television.

Calcutta Stock Exchange (CSE) launched operations on the National Stock Exchange
The 103-year-old Calcutta Stock Exchange (CSE) launched operations on the National Stock Exchange (NSE) platform on 28 November 2011. The CSE thus became the only stock exchange in India to offer

facility to trade on three trading platforms Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and CSE with a single membership. As per the agreement signed with the NSE, CSE trading members will be able to access the trading platform of NSE and trade on the shares listed on the bourse. CSE members will now be able to enjoy the opportunity to issue contract notes directly. This is special kind of opportunity where the brokers from CSE will go to national platform. Second, the companies which are listed in CSE platform, if they have the compliance, will go to the national platform. At present, there are 2606 companies listed on the CSE, of which 1550 are listed exclusively on the CSE. Two New Delhi-based companies Tribute Financial Company and Elite Leasing were the most recent companies to have been listed listed on the CSE. CSE's daily turnover stands at around Rs.70 crore presently. CSE was offering BSE trading platform since 2008. The Calcutta Stock Exchange (CSE) also introduced a Bangla language website in the presence of state Industry Minister Partha Chatterjee. The brouse declared its decision to fund a Chair at the Calcutta University for conducting studies in financial markets. About Rs.25 lakh was earmarked for this project out of the interest earned from the corpus of Investors Service Fund.

Rajasthan State Government to give Khatedari Rights to 30000 farmers

The Rajasthan state cabinet on 28 November 2011 approved the decision to give khatedari rights to over 30000 farmers occupying the custodian land in Alwar, Sriganganagar, Hanumangarh and Bharatpur. The farmers will have to pay a nominal regularisation fee to get the rights. The lands were vacated mostly by those famers, who left the country during the partition. Earlier, the farmers were asked to pay 25 percent of the market prices fixed by the district level committee. Now, they would get the khatedari rights on the payment of 2000 rupees for irrigated land and 1000 rupees for other categories of land.

GVK BIO entered into alliance with Moulder Centre for Drug Discovery Research at Temple University
Hyderabad-based drug discovery research and development organisation, GVK Biosciences (GVK BIO) on 28 November 2011 entered into an alliance with the Moulder Centre for Drug Discovery Research at Temple University, Philadelphia.

As part of the collaboration, GVK Bio would be responsible for the target validation, lead identification and lead optimisation of small molecules in selected therapeutic areas, including cardiovascular, metabolic and central nervous system disorders. The Moulder Center is stated to be used for both internal research within Temple University and for external collaborations with pharmaceutical and biotech companies and other universities. It is focussed on drug discovery in the area of pharmaceuticals and biotechnology. It works with industry and other universities in joint research projects.

Expert Group set up under B. K. Chaturvedi for Revamp of Power Sector

To push through power reforms and unlock the power sector, the UPA-II Government set up an expert group to suggest restructuring of power utilities of seven major States, including Tamil Nadu and Uttar Pradesh. The plan for reforms follows a recent government report that revealed that the accumulated losses of the power utilities across the country ran into Rs.1.50-lakh crore and annual losses were around Rs.55.000 crore. The government is to initiate a major reform in the shape of open access allowing consumers of above 1 MW to choose their preferred electricity supplier. Task of the Expert Group The expert group headed by Planning Commission member (Energy) B. K. Chaturvedi is expected to submit its report by March 2012. The group was entrusted with the responsibility to make an assessment of the cumulative losses of distribution utilities of seven major States, including Uttar Pradesh, Tamil Nadu and Rajasthan. It was asked to suggest a strategy for capital restructuring of these power discoms (distribution companies), including commitment by other stakeholders like State governments. It will also have to suggest a road map and monitoring mechanism for implementing the above.

The Justice and Development Party (PJD) won the Elections in Morocco
The Justice and Development Party (PJD) won the parliamentary elections in Morocco according to the poll results announced on 27 November 2011. PJD won 107 seats out of the 395 seats, almost twice as many as the second place finisher. The Polls were held on 25 November 2011 and there was only a 45 percent turnout.

The PJD party follows the moral dictates of the religion. The party is the second Islamist party to win an election after the Arab Spring. Tunisias moderate Islamist party, Ennahda, recently won the election in that country. Arab uprising had some effect also on Morocco. The king responded by modifying the constitution to give the next parliament and prime minister more powers and held early elections. Elections in Morocco are held on a national level for the legislature. Parliament has two chambers. The Assembly of Representatives of Morocco has 325 members elected for a five-year term, 295 elected in multi-seat constituencies and 30 in national lists consisting only of women. The Assembly of Councillors has 270 members, elected for a nine-year term, elected by professional chambers (91 seats), local councils (162 seats), and wage-earners (27 seats). Morocco has had a multi-party system since independence in 1956. Morocco is the North African Kingdom. King Mohammed VI is the head of the state.

A New Type of Cell was discovered to Boost the Ability of Human body to fight off Infections
A researcher from Australia National University discovered a new type of cell, which boosts the ability of human body to fight off infections and life threatening diseases. The cell is called Natural killer T follicular helper (NKTfh). It generates antibody responses in B cells, which are the bodys natural defence against invasion by bacteria and viruses. These Natural Killer T Cells recognize molecules known as lipids instead of just recognizing proteins expressed by infectious bacteria.

NKTfh cells also produce specialised structures called germinal centres, similar to those, which generated high affinity antibody responses to protein antigens.

Both these qualities give a natural boost to B cells and strengthen the human immune system and its ability to fight infection. NKTfh cells provided this boost over a very short period of time.

NASA launched a Rover to explore the Red Planet (Mars)

NASA on 26 November 2011, launched Rover, nicknamed Curiosity to explore the planet Mars. The rover was launched from Florida on an Atlas 5 rocket. The Rover will take eight and a half months to

reach the Red Planet (Mars). The cost of the NASA space mission is 2.5 billion US dollars. The Rover will then scour Martian soils and rocks for any signs that could have supported microbial life on the planet. The Atlas flight lasted almost three-quarters of an hour. The rover is also known as the Mars Science laboratory (MSL). It is due to arrive at the Red Planet on 6 August 2012. The Rover will land at a deep equatorial depression called Gale Crater, which contains a central mountain that rises some 5kilometre above the plain below. MSL is equipped with 10 sophisticated instruments to study the rocks, soils and atmosphere in Gale Crater.

Centre for Monitoring Indian Economy (CMIE) scaled down Indias GDP forecast to 7.8% for 2011-12
Leading research firm, Centre for Monitoring Indian Economy (CMIE) in November 2011 scaled down Indias GDP forecast to 7.8% for 2011-12 from the earlier forecast of 7.9%. Downward revision in the forecast for the mining index from 4.4% to 3.2%, manufacturing sector from 7.5% to 6.9% and electricity from 9 to 8.7% led to a further decline in GDP forecast for this fiscal. the Reserve Bank had also reduced its forecast for real GDP growth sharply from 8 to 7.6%. The rating agency Crisil had revised its growth estimate from 7.7-8% to 7.6%. The index of industrial production growth slowed down to 2-4% and the wholesale price index-based inflation growth remained riveted to 9.5% despite sustained efforts by the RBI to rein in inflation by raising interest rates. The lack of availability of coal in 2011-12 pulled down the mining index and led to delay of thermal projects. As a result the electricity generation forecast was revised. Analysis The research firm warned that the economy is headed towards stagflation due to persistent fall in the IIP (Index of Industrial Production) and the high inflation. The growth in sales of companies, which grew by a handsome 25% in the first half of 2011 was however robust. Sales of manufacturing companies adjusted for inflation indicated that the IIP under-estimates growth in the manufacturing sector by about 33%. CMIE also noted thatr in the first half, the real sales of manufacturing companies grew by about 9%, indicating robust demand for industrial goods.

Though profit margins of the corporates later declined because of an increase in raw material cost and interest rates, it is still robust and way above the low margins seen in the years 1999 to 2002. The net profit margin of the listed non-finance companies fell to 6.4% in June 2011, but between March 1999 and December 2002 they never touched 6%. Growth in corporate sales indicates that consumption demand continues to grow well. Kharif sowing this year was higher than last season. Agricultural production was estimated to grow by 2.9% after a robust 6.6% growth in 2010. Estimation of growth in agricultural production indicated robust domestic consumption demand in in 2011-12.

Working Groups on Road Safety set up by Ministry of Road Transport & Highways submitted Report
The five working groups on road safety that were set up by the ministry of road transport & highways have submitted their reports in November 2011. The different working groups constituted on road safety were- education, enforcement, engineering (roads as well as vehicles) and emergency. The groups were constituted following the March 2011 meeting of the National Road Safety Council (NRSC) to lay out the macro and micro dimensions with potential solutions to road safety and to suggest short term and long term measures to curb road accidents in the country. The wide-ranging recommendations contained in the report are meant to be incorporated in the decadal action programme on road safety. The NRSC will finalize the detailed decadal action plan on road safety at the national level which could be replicated by all governments at state and district levels. Recommendations The working group on enforcement mentioned that the penalty structure as per Amendment of Motor Vehicles Act 1988 has become redundant and the fines not a deterrence for traffic rule violators. It suggested increasing the penalties for offences. While revising the penalties for traffic offences, the group mentioned a clause needs to be inserted in the Amendment Act so that every three years there is revision of the fines based on consumer price index. On the topic of overloading of commercial vehicles, the group specified that if a commercial vehicle was found overloaded it would be prosecuted with mandatory criminal case under the provisions of Damage to Public Property Act against the transporter, the consignor and the consignee.

The groups felt the need for digitization of the existing driving licence holders. Measures need to be adopted to ensure when driving licence of a defaulter is suspended he should not be able to get another licence from any other transport authority. It was noted that a large number of accidents on roads happen because of many commercial vehicles not being in good condition. It was felt that fitness certificate for commercial vehicles needed to be issued in a routine and there should also be stringent checks of commercial vehicles before fitness certificate is issued to the vehicle. Stringent fitness certificate issuance will ensure enhanced road safety.

Padma Bhushan Awardee & Renowned Sarangi Maestro, Ustad Sultan Khan died
Renowned sarangi maestro and singer Ustad Sultan Khan died of kidney failure on 27 November 2011. He belonged to the Indore Gharana of singing. Born in the year 1940, Khan's first performance was at the All India Conference at the age of 11. He was taught sarangi by his father Gulab Khan. A Hindustani classical music exponent, Khan was renowned for his international collaborations and will always be remembered as the voice behind Piya Basanti Re and Albela Saajan (Hum Dil De Chuke Sanam). His work in films like jab we met, maqbool, hum dil de chuke sanam was applauded by music lovers across the country. He was one of the members of the Indian fusion group Tabla Beat Science, with Zakir Hussain and Bill Laswell. He had performed on an international scale with Ravi Shankar on George Harrison's 1974 Dark Horse World Tour. He was awarded the Padma Bhushan, the third highest Indian civilian honour in 2010. He won numerous musical awards including the Sangeet Natak Akademi Award which he won twice. He was presented the President's Award, as well as the Gold Medalist Award of Maharashtra and the American Academy of Artists Award in 1998. India lost two other renowned musicians in 2011 with the death of Jagjit Singh and Bhupen Hazarika.

Indian e-commerce Market Estimated to Grow to $24 billion by 2015 from the Current $6.3 billion
According to the study titled Indian Digital Consumer Industry by financial services firm Avendus, the number of people transacting online is expected to touch 39 million by 2015. The estimated online

transaction will further boost the Indian e-commerce market which is estimated to grow to $24 billion by 2015 from the current $6.3 billion. Currently 8-10 million people in India transact online, which is about 11% of the 80 million internet users in the country, which represents a penetration of 7% of the population and 17% of the urban population The study estimated the number of unique users transacting on travel sites (only) to be around 6-7 million and 2-3 million for non-travel e-commerce sites in the present day. The online travel market was estimated at Rs 24900 crore ($5.5 billion) in 2011. In India, online travel revenues are dominated by ticket bookings, with air and train bookings accounting for close to 90% of the segments revenues. India, as per the study is considered one of the most lucrative markets for online travel. While 57% of the online travel revenue came from air travel, train and hotel packages contributed 37% and 5%, respectively in 2010-11. The remaining 1% was from bus bookings. Online travel is expected to grow at 22% to reach Rs 54800 crore by 2015. The number of transacting users in the US was 170 million in 2010, comprising 69% of the overall internet users in the country. Thenumber of transacting users in The US was observed to be growing at 8% for the last six years.

Expert Group on Universal Health for India held Session to Address World Banks Concerns
The High Level Expert Group on Universal Health Coverage for India held a session on 27 November 2011 to address concerns raised by the World Bank over some of the recommendations in the groups report for the 12th Five Year Plan. The issues raised during the session centred around marginalisation of the private sector and the elimination of intermediation by insurance companies. The expert group that emphasised on the need to strike a balance between cost-effectiveness, affordability in terms of budget and equity, remained committed to providing universal health coverage to al. The focus of the group was on cost-effective primary care, especially guaranteeing access to free medicines to generate appreciable health, economic and political benefits in the short timeframe. Apart from the commitment to provide equity and coverage in health care at the primary and district level, the groups report also recommended the setting up a separate group that would look into the possibilities of providing tertiary care as well. World Banks Views on the Expert Groups Report

According to theWorld Bank, the expert groups report lacked an analysis of the private sector, a dominant financier and provider of health services in India. It complained that the report marginalised the role of the private sector in this repect. The World Bank diaagreed with the report's recommendation to eliminate intermediation by insurance companies or other independent purchasing agencies as experiences showed that intermediaries had contributed substantial administrative and technical capacity to the government agencies. It mentioned that large investment in health worker training did not guarantee greater supply of human resource in the public sector and much of the subsidy was likely to be captured by individuals. Contradicting the groups view, the organisation also felt that India's universal health coverage strategy would be much more successful in delivering health, economic and political benefits, if it could focus on achieving results at the primary and district level rather than improving access to expensive tertiary care. The expert group needed to be pragmatic, and develop structure relations with private providers carefully.

Ameya Walavalkar clinched Maiden Drivers' title in the JK Tyre-FMSCI National Racing Championship
Ameya Walavalkar of Mars Racing registered his sixth win of 2011 in the Formula LGB Swift class, thereby clinching his maiden drivers' championship title in the JK Tyre-FMSCI National Racing Championship at the MMRT in Irungattukottai on 27 November 2011. Walavalkar finished 22 points ahead of teammate R. Deepak, who came fifth in the race. Sarosh Hataria of Meco Motorsports stood second. Karthik Krishna finished third but was penalised for overtaking when the yellow flag was being waved and thus conceded his podium place to Chitesh Mandody. Rahil Noorani, a championship contender in the Polo R Cup series was excluded from the competition after a post-race incident in the pits after he vent his frustration at Ajay Kini.

Scientists discovered the Gene called ABCC9 that Controls Sleep

A team of the Scientists at the Ludwig Maximilians University of Munich identified the gene, called ABCC9 that can reduce the length of time people sleep. The same gene was linked to heart disease and diabetes.

The scientists based their findings on a Europe-wide survey. Survey participants were asked to fill out a questionnaire assessing their sleep habits.

The survey revealed that people who had two copies of one common variant of ABCC9 slept for shorter periods than people with two copies of another version.The scientists had already established that the ABCC9 gene was also present in fruitflies. the team was able to modify it in the animal and decrease the length of time for which it slept.

Brazilian Filmmaker & Journalist, Oscar Maron Filho died in Goa while addressing IFFI Forum
Film maker and journalist from Brazil, Oscar Maron Filho died of a fatal heart atrtack on 27 November in Goa while addressing an open forum arranged as part of the ongoing International Film Festival of India (IFFI). Oscar Maron, born in Rio de Janeiro in 1955 had come to the 42nd IFFI with his documentary Mario Filho, the Creator of Crowds on the legendary sports chronicler and creator of the Brazilian football mythology. He was the director of biggest production house, Atlantica Cinematographica in Brazil. Filhos other notable films include Bye Bye Romario, Pele and O Papa da Bola.

The Arab League Imposed Sanctions against Syria for its Failure to Comply with the Peace Plan
The Arab League on 27 November 2011 imposed a set of sanctions against Syria for its failure to comply with the League mediated peace plan to end violence in the country. These include freezing of financial assets, a halt on dealing with Syrias central bank and stopping investments and a travel ban on highranking officials. The sanctions go into effect immediately. The League also banned financial transactions and trade with the Syrian government. Syrian government is under economic and political pressure to end an eight-month crackdown against demonstrators.

Vladimir Putins Candicacy endorsed for March 2012 Presidential Polls

The United Russia party convention on 27 November voted unanimously to nominate its leader, Vladimir Putin, as the presidential candidate for the elections scheduled for 4 March 20112. The decision to

nominate Putin, who is Russias current prime minister, was also supported by delegates of the Popular Front a new organization bringing together supporters of Putin and United Russia. All 614 delegates from United Russia and Putins All-Russia Peoples Front movement who took part in the vote during a party congress at Luzhniki unanimously backed Putins candidacy. Candidates to challenge Putin in the March 2012 elections are Communist leader Gennady Zyuganov and Vladimir Zhirinovsky, the leader of the right-wing LDPR party. United Russia party convention held pre-election congress after the upper house of the Russian Parliament officially approved 4 March as the date for presidential elections thereby triggering the presidential race. Incumbent President Dmitry Medvedev endorsed Putin as United Russias candidate back in September 2011. Putin has already been elected president twice, in 2000 and 2004. As Russia has recently lengthened the presidential term, the winner of the 2012 election will take up the post for six years, with the right to stand for a second six-year term.