News Today January 26 & 27, 2010
WADR : Weighted Average Discount Rate
WCTL : Working Capital Term Loan
WEO : World Economic Outlook
WGRFIS : Working Group on Future Role of Financial Institutions
XBRL : Extensible Business Reporting Language
XML : Extensible Markup Language
YTM : Yield to Maturity
Padma Awards 2010
Padma Awards, the country’s highest civilian awards, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. read here
Controversy over Sant Singh Chatwal’s Padma Bhushan Award
One of the Padma Awardees this is year has been a controversial figure. Sant Singh Chatwal has been associated with the controversies like a massive defaulter of loans, filed bankruptcies on false grounds, used (allegedly) political connections for private gains and arrested by CBI in Connection with defrauding banks with $ 9 Million, and many more financial fraud cases against whom have been lodged in US.
Many including journalists and political leaders demand to strip the award from the sophisticated fraudster who skimmed banks in many Countries and later filed bankruptcies. Noted Indian journalist Vir Sanghvi has expressed his disappointment over the award and has decided to file a RTI Petition ( Right To Information Act) along with noted film maker Pritish Nandy to make the government declare the procedure by which it selects awardees. Deputy leader of the opposition in Parliament Gopinath Munde also declares to move to the RTI.
Turning Down of Padma Sri:
Janki Ballabh Shastri, eminent Hindi poet turns down the Padma Shri conferred upon him by the government. He terms it as an abuse and not an honor at this stage of his life. He is in his late eighties and says rightly that his juniors have been awarded earlier and its is too late for him.
Similar case is with Rekha, who although didn’t turn the award down but , this award has come too late for her.
Official broadcaster for Commonwealth Games – Prasar Bharti
Prasar Bharati takes the rights of live telecast of the Commonwealth Games for live telecast on Doordarshan and live transmission on AIR in India only. Prasar Bharati will have first right of telecasting/transmitting in India for the live coverage of the 12-day international event.
Elections in Sri Lanka:
In Sri Lanka the president is elected head of state and the head of government and is the most powerful office in Sri Lanka Read Here
Indian external affairs minister meets British Prime Minister Gordon Brown in London on one day meet over Afghanistan. NATO powers want India to undertake a more high-profile role in embattled Afghanistan , however Islamabad always opposed involving New Delhi. SM Krishna also meets British Foreign Secretary David Miliband and Australian Foreign Minister Stephen Smith .
India Nigeria Energy Cooperation
A meeting was held between Nigerian Energy Minister Henry Odein Ajumogobia and Indian Petroleum and Natural Gas Minister at Abuja on January 27, 2010 . Read Here
50 emerging market business leaders: Financial Times
British daily, Financial Times releases 50 emerging market business leaders. The paper says that BRIC countries could together outstrip the world’s existing six biggest economies by 2039 and China might overtake the US by 2041.
There are 9 Indians in the list . They are Tata Group chairman Ratan Tata, Reliance Industries chairman Mukesh Ambani, ADAG chairman Anil Ambani, ICICI Bank Managing Director and Chief Executive Chanda Kochhar, Mahindra Group patriarch Keshub Mahindra, Bharti Airtel Chairman Sunil Bharti Mittal, Videocon Chairman Venugopal Dhoot, Hero Group founder Brijmohan Lall Munjal, and Future Group Chairman Kishore Biyani.
The list of 50 people is available on FT’s site here