Quick Current Affairs Update

Coca Cola targets to be ‘water neutral’ by 2012
Global beverages player Coca Cola plans to replenish all the groundwater used by the company in India back into nature and become completely ‘water neutral´ by 2012.
“Our target is to neutralise all ground water usage by the company in India by the end of the current calender year and become water neutral for all products and processes by 2012,” said Coca Cola India director (Quality and Environment) Navneet Mehta at a CII summit in New Delhi.

ICICI Prudential AMC wins Morning Star award
ICICI Prudential AMC has won an award for the best debt fund house for a three-year performance from investment research firm Morning Star.
The award has been given for delivering sustained out-performance on a risk-adjusted basis across the fund line-ups in the debt category for the period ending 31 December, 2008, a release on 17 march 2009 said.

World Bank cuts China 2009 GDP forecast to 6.5%
The World Bank lowered its forecast for China’s 2009 economic growth on Wednesday but warned Beijing that it would be thwarting its own medium-term goals if it tried to offset the slowdown by further boosting investment.In a quarterly economic update, the bank cut its projection of gross domestic product growth this year to 6.5% from the 7.5% outcome it had forecast in November. It said there were both upward and downward risks to its outlook.

Isolated Madagascar President faces end of reign
The seven-year rule of Madagascan President Marc Ravalomanana, holed up in his palace with a handful of loyal guards, appeared doomed Tuesday, after the army seized his office and demanded his speedy resignation. The three-month-old challenge to his authority on the impoverished Indian Ocean island came to a climax late Monday when around 100 RPG-wielding soldiers backed by tanks stormed his office in the capital Antananarivo

Sony TV drags BCCI to court over IPL broadcasting rights
A fresh row broke out over the issue of telecast rights of the IPL with Sony Entertainment dragging BCCI to the Bombay High Court which restrained the Cricket Board from entering into any further agreement related to the T-20 tournament.
Sony moved the High Court against BCCI’s move to enter into a contract with World Sports Group (WSG) after terminating its agreement with Sony on broadcasting rights in the country.

ICRA suspends Ansal rating for ‘lack of info’
Rating agency ICRA has suspended its creditworthiness rating on Ansal Properties and Infrastructure Ltd (APIL) after the real estate major failed to provide sufficient information to assess appropriate rating

No need to hike SLR: Govt
Economic Affairs Secretary Ashok Chawla On Tuesday said there was no need to hike the statutory liquidity ratio (SLR) for banks to manage the government’s huge market borrowing programme in the next financial year starting April.

Govt extends zero customs duty, ban on “pulses” export by a year
With pulses production estimated to decline this fiscal, the government today extended import of these products at zero duty and the ban on exports on almost all varieties, for one more year, to increase its domestic supply.

Govt allows multi-crore foreign investment in Orange Realty
The government today allowed over Rs2,000 crore foreign investment in Orange Realty, which will consequently become a foreign-owned Indian company. The Cabinet Committee on Economic Affairs (CCEA) approved an investment company ‘IRVO-III´ to inject investment into Orange Realty Pvt Ltd following which the Indian outfit will be able to make different investments, including Rs2,051 crore in a Special Economic Zone project. “The investing company is by the name of IRVO-III.That company has a large of number of well-known investors. That company is now investing in Organge Realty Pvt Ltd,” home minister P Chidambaram said after the CCEA meeting.

Wildlife Bureau to look into tiger deaths in Kanha, Kaziranga
Alarmed at the spate of tiger deaths in Kaziranga and Kanha tiger reserves in the last three months, the environment ministry has directed theWildlife Crime Control Bureau to probe into the possible role of organised gangs in the killings. This is for the first time that the WCCB has been entrusted with such a sensitive task. Two teams of the investigating agency have been deputed to the two reserves in Assam and Madhya Pradesh to enquire into the mysterious deaths and possible links with the poachers in the area.



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