Under tougher immigration rules, coming into force from 8 April 2012, students from outside the European Union will be required to have a firm job offer of a minimum £20,000 a year from a government-approved employer if they wish to stay on in Britain after completing their studies. In a separate move, the government announced that it was freezing the annual cap on highly skilled workers for two years. It will remain at 20,700 till 2014. This follows criticism from the business sector that constant changes in rules created uncertainty and made it difficult for businesses to plan for future.
Srilata A Zaheer first Indian woman dean of top US Business School
Srilata A Zaheer, a former Chennai resident, has been named dean of the University of Minnesota’s Carlson School of Management, becoming the first woman of Indian descent to be appointed the head of a top US business school. She graduated from Madras University and obtained her MBA from IIM Ahmedabad in 1975, joins a growing list of Indian-origin academics taking leadership roles in top global business schools.
CPI leader Pramode Gogoi passes away
Veteran Communist leader and president of the All India Trade Union Congress (AITUC) Promode Gogoi passed away. He was member of the Central Secretariat and the National Executive of the Communist Party of India .Mr. Gogoi was Water Resources Minister during 1996-2001. He was one of the vice-presidents of the World Federation of Trade Unions (WFTU) and was re-elected to the CPI National Executive at the recent party congress held in Patna from March 27 to 31.
Srilata A Zaheer, a former Chennai resident, has been named dean of the University of Minnesota’s Carlson School of Management, becoming the first woman of Indian descent to be appointed the head of a top US business school. She graduated from Madras University and obtained her MBA from IIM Ahmedabad in 1975, joins a growing list of Indian-origin academics taking leadership roles in top global business schools.
CPI leader Pramode Gogoi passes away
Veteran Communist leader and president of the All India Trade Union Congress (AITUC) Promode Gogoi passed away. He was member of the Central Secretariat and the National Executive of the Communist Party of India .Mr. Gogoi was Water Resources Minister during 1996-2001. He was one of the vice-presidents of the World Federation of Trade Unions (WFTU) and was re-elected to the CPI National Executive at the recent party congress held in Patna from March 27 to 31.
Amitabh Bachchan to be honoured for polio campaign
Actor Amitabh Bachchan, who has been the Goodwill Ambassador for Polio UNICEF campaign from 2005, will be honoured for his contribution to the cause.
He has fronted the polio eradication programme successfully.
Actor Amitabh Bachchan, who has been the Goodwill Ambassador for Polio UNICEF campaign from 2005, will be honoured for his contribution to the cause.
He has fronted the polio eradication programme successfully.
Serena Wins 2012 Family Circle Cup
Serena Williams won family circle cup by defeating Lucie Safarova 6-0 6-1 in the final of the Family Circle Cup. She won the 40th WTA title of her career.
Serena Williams won family circle cup by defeating Lucie Safarova 6-0 6-1 in the final of the Family Circle Cup. She won the 40th WTA title of her career.
(FIIs) can now invest up to 23 per cent in commodity exchanges
As per the new foreign investment norms announced by the Industry Ministry Foreign institutional investors (FIIs) can now invest up to 23 per cent in commodity exchanges without approval of the government. In a consolidated foreign direct investment (FDI) policy document, the government had decided to liberalise norms for overseas investments in commodity exchanges. It has now been decided to liberalise the policy and to mandate the requirement of Government approval only for FDI component of the investment. Such investment by FIIs, in commodity exchanges, will, therefore, no longer require Government approval. This change aligns the policy for foreign investment in commodity exchanges, with that of other infrastructure companies in the securities markets, such as stock exchanges, depositories and clearing corporations.
As per the new foreign investment norms announced by the Industry Ministry Foreign institutional investors (FIIs) can now invest up to 23 per cent in commodity exchanges without approval of the government. In a consolidated foreign direct investment (FDI) policy document, the government had decided to liberalise norms for overseas investments in commodity exchanges. It has now been decided to liberalise the policy and to mandate the requirement of Government approval only for FDI component of the investment. Such investment by FIIs, in commodity exchanges, will, therefore, no longer require Government approval. This change aligns the policy for foreign investment in commodity exchanges, with that of other infrastructure companies in the securities markets, such as stock exchanges, depositories and clearing corporations.
Shiva Thapa became the Youngest Indian Boxer to qualify for Olympics
The 18-year-old Shiva Thapa (56kg category) became the youngest Indian boxer to qualify for the Olympics by beating Japan’s Satoshi Shimizu 31-17 to enter the final of the Asian qualifiers in Astana, Kazakhstan
The 18-year-old Shiva Thapa (56kg category) became the youngest Indian boxer to qualify for the Olympics by beating Japan’s Satoshi Shimizu 31-17 to enter the final of the Asian qualifiers in Astana, Kazakhstan
ADB pegs 7% GDP growth for India in ’12-13
Asian Development Bank Manila-based bank has forecast 7% growth for the country in the current fiscal and 7.5% the next year. The finance ministry has projected a growth rate of 7.6% for the current fiscal.
Asian Development Bank Manila-based bank has forecast 7% growth for the country in the current fiscal and 7.5% the next year. The finance ministry has projected a growth rate of 7.6% for the current fiscal.
E-filing returns compulsory above Rs 10 lakh
The government has made it mandatory for individuals with income above Rs 10 lakh to file their tax returns 2011-12 onwards electronically. E-filing has been made compulsory for the person who is an individual, or a Hindu Undivided Family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds Rs 10 lakh for assessment year 2012-13 onwards. E-filing for such individuals was optional till 2010-11.
The government has made it mandatory for individuals with income above Rs 10 lakh to file their tax returns 2011-12 onwards electronically. E-filing has been made compulsory for the person who is an individual, or a Hindu Undivided Family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds Rs 10 lakh for assessment year 2012-13 onwards. E-filing for such individuals was optional till 2010-11.
Seventh Meeting of the India-Russia Joint Working Group on Combating International Terrorism
The seventh meeting of the India-Russia Joint Working Group (JWG) on Combating International Terrorism was held on April 11 in New Delhi. The discussions were held in an atmosphere of trust and mutual understanding. The parties emphasized that their cooperation in countering new challenges and threats is an integral part of the Indian-Russian special and privileged strategic partnership, expressed mutual concern about the continuous threat of cross-border terrorism, and reaffirmed their commitment to consolidate bilateral interaction in the fight against this global scourge. Both the Countries also underlined the role of international efforts in preventing and suppressing terrorism including the consistent implementation of the UN Global Counterterrorism Strategy and the relevant resolutions of the UN Security Council.
The seventh meeting of the India-Russia Joint Working Group (JWG) on Combating International Terrorism was held on April 11 in New Delhi. The discussions were held in an atmosphere of trust and mutual understanding. The parties emphasized that their cooperation in countering new challenges and threats is an integral part of the Indian-Russian special and privileged strategic partnership, expressed mutual concern about the continuous threat of cross-border terrorism, and reaffirmed their commitment to consolidate bilateral interaction in the fight against this global scourge. Both the Countries also underlined the role of international efforts in preventing and suppressing terrorism including the consistent implementation of the UN Global Counterterrorism Strategy and the relevant resolutions of the UN Security Council.
Mitsui Sumitomo to Buy 26% Stake in India’s Max New York Life
Tokyo-based MS&AD Insurance Group Holdings is buying 26 per cent in Max New York Life (MNYL). The stake buy is being done through Mitsui Sumitomo Insurance, which is a subsidiary of MS&AD Group Holdings. In an all-cash transaction, MS&AD will pay Rs 2,731 crore ($535 million) for the 26 per cent stake, making it the second largest foreign investment in the Indian life insurance sector
Tokyo-based MS&AD Insurance Group Holdings is buying 26 per cent in Max New York Life (MNYL). The stake buy is being done through Mitsui Sumitomo Insurance, which is a subsidiary of MS&AD Group Holdings. In an all-cash transaction, MS&AD will pay Rs 2,731 crore ($535 million) for the 26 per cent stake, making it the second largest foreign investment in the Indian life insurance sector
Moody’s downgrades ratings of ONGC, GAIL
Credit rating agency Moody’s has downgraded the local currency ratings of state-owned Oil and Natural Gas Corporation (ONGC) and GAIL, as a reflection of the risks that these two entities share with the Indian government. Moody’s Investors Service has downgraded the local currency rating of ONGC to Baa1 from A2 and that of GAIL to Baa2 from A3. The outlook for both the ratings is stable.
Credit rating agency Moody’s has downgraded the local currency ratings of state-owned Oil and Natural Gas Corporation (ONGC) and GAIL, as a reflection of the risks that these two entities share with the Indian government. Moody’s Investors Service has downgraded the local currency rating of ONGC to Baa1 from A2 and that of GAIL to Baa2 from A3. The outlook for both the ratings is stable.
Salman Bashir new Pak envoy to India
Pakistan government has appointed former foreign secretary Salman Bashir asnew envoy to India. 60-year-old Bashir will succeed Shahid Malik, who has completed a record five-and-a-half-year term as Pak envoy.
Pakistan government has appointed former foreign secretary Salman Bashir asnew envoy to India. 60-year-old Bashir will succeed Shahid Malik, who has completed a record five-and-a-half-year term as Pak envoy.
IGate accepts Patni delisting offer
IGate Corp (IGTE.O) accepted minority shareholders’ offer of 520 rupees per share to delist its Indian unit Patni Computer Systems (PTNI.NS) (PTI.N) from the Indian Stock Exchanges. , at a price higher than what it paid to buy a controlling stake in the company.
IGate Corp (IGTE.O) accepted minority shareholders’ offer of 520 rupees per share to delist its Indian unit Patni Computer Systems (PTNI.NS) (PTI.N) from the Indian Stock Exchanges. , at a price higher than what it paid to buy a controlling stake in the company.
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