Gro Harlem Brundtland awarded Tang Prize in sustainable development
i. Gro Harlem Brundtland was awarded with the first Tang Prize in sustainable development. The Tang Prize was given to her by the Tang Prize Foundation.
ii. She is a former Prime Minister of Norway and was awarded the prize for her innovation, leadership and implementation of sustainable development. She is known as the Godmother of sustainable development.
Flipkart signs MoU to help MSMEs scale their business
i. Online marketplace Flipkart on Wednesday has signed a memorandum of understanding with Federation of Indian Micro and Small and Medium Enterprises (FISME) and National Center for Design and Product Development (NCDPD) to boost manufacturing and entrepreneurship in the country.
ii. As per the MoU, Flipkart will provide micro, small and medium entrepreneurs in infrastructural support in data analytics, marketing and customer acquisition to help them scale their business.
iii. This is one of its kinds that such a prominent three organisations have come together to create a platform to focus on the betterment of Indian manufacturers and artisans.
Dipika - Joshana win women's doubles title in Malaysia
i. India bagged its second title at the Tri-Nation squash doubles tournament in Kuala Lumpur on Thursday when Dipika Pallikal and Joshana Chinappa emerged winners in the women's doubles final.
ii. Pallikal and Joshana rallied to beat New Zealand's Joelle King and Amanda Landers Murphy 8-11, 11-5, 11-1 at the National Squash Centre.
iii. Hosts Malaysia was the the other country to participate in the three-day event, seen as a warm-up to the next month's Commonwealth Games. It was Pallikal's second title in as many days after she won the mixed doubles with Saurav Ghosal.
Treat foreign investment over 10% in listed firms as FDI: Mayaram panel
i. Seeking to simplify norms, a government panel has suggested that foreign investment of over 10 per cent in a listed company be treated as FDI and the one from NRIs on a non-repatriable basis be deemed as domestic investment.
ii. The panel on rationalising definitions of FDI and FII, headed by Finance Secretary Arvind Mayaram, said foreign investment in an unlisted company should be treated as FDI.
iii. It aims at removing ambiguities over clear demarcation between FDI and foreign institutional investment.
iv. If the stake is not raised to 10 per cent or above, then the investment can be treated as portfolio investment. Foreign direct investment is subject to sectoral caps.
v. FDI reflects a lasting interest and long-term relationship, while under portfolio investment, the relationship between the investor and the company remains largely anonymous, the report says.
vi. “The monitoring of the individual FPI limit of less than 10 per cent will be done as hitherto by the Securities and Exchange Board of India. The compliance with the FPI aggregate limit is as of now being done by the RBI...and this will continue,” the report says.
BRT system will save 27,000 lives in India: World Bank
i. World Bank President Jim Young Kim has said India can save more than 27,000 lives and create over 128,000 jobs if it builds 1,000 kilometres of new bus rapid transit (BRT) lanes in the next 20 years.
ii. “If India built 1,000 kilometres of new, bus rapid transit lanes, over 20 years, that could save more than 27,000 lives by reducing air pollution and accidents and create more than 128,000 jobs,” Jim Young Kim said.
iii. Speaking at the release of a report “Climate-Smart Development”, according to which $3-4 billion is needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, Mr. Jim said India could also reduce “greenhouse gas emissions by about 42 million tons”.
iv. The analysis estimates that investment of $3-4 billion would be needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, the bank said.
i. Gro Harlem Brundtland was awarded with the first Tang Prize in sustainable development. The Tang Prize was given to her by the Tang Prize Foundation.
ii. She is a former Prime Minister of Norway and was awarded the prize for her innovation, leadership and implementation of sustainable development. She is known as the Godmother of sustainable development.
Flipkart signs MoU to help MSMEs scale their business
i. Online marketplace Flipkart on Wednesday has signed a memorandum of understanding with Federation of Indian Micro and Small and Medium Enterprises (FISME) and National Center for Design and Product Development (NCDPD) to boost manufacturing and entrepreneurship in the country.
ii. As per the MoU, Flipkart will provide micro, small and medium entrepreneurs in infrastructural support in data analytics, marketing and customer acquisition to help them scale their business.
iii. This is one of its kinds that such a prominent three organisations have come together to create a platform to focus on the betterment of Indian manufacturers and artisans.
Dipika - Joshana win women's doubles title in Malaysia
i. India bagged its second title at the Tri-Nation squash doubles tournament in Kuala Lumpur on Thursday when Dipika Pallikal and Joshana Chinappa emerged winners in the women's doubles final.
ii. Pallikal and Joshana rallied to beat New Zealand's Joelle King and Amanda Landers Murphy 8-11, 11-5, 11-1 at the National Squash Centre.
iii. Hosts Malaysia was the the other country to participate in the three-day event, seen as a warm-up to the next month's Commonwealth Games. It was Pallikal's second title in as many days after she won the mixed doubles with Saurav Ghosal.
Treat foreign investment over 10% in listed firms as FDI: Mayaram panel
i. Seeking to simplify norms, a government panel has suggested that foreign investment of over 10 per cent in a listed company be treated as FDI and the one from NRIs on a non-repatriable basis be deemed as domestic investment.
ii. The panel on rationalising definitions of FDI and FII, headed by Finance Secretary Arvind Mayaram, said foreign investment in an unlisted company should be treated as FDI.
iii. It aims at removing ambiguities over clear demarcation between FDI and foreign institutional investment.
iv. If the stake is not raised to 10 per cent or above, then the investment can be treated as portfolio investment. Foreign direct investment is subject to sectoral caps.
v. FDI reflects a lasting interest and long-term relationship, while under portfolio investment, the relationship between the investor and the company remains largely anonymous, the report says.
vi. “The monitoring of the individual FPI limit of less than 10 per cent will be done as hitherto by the Securities and Exchange Board of India. The compliance with the FPI aggregate limit is as of now being done by the RBI...and this will continue,” the report says.
BRT system will save 27,000 lives in India: World Bank
i. World Bank President Jim Young Kim has said India can save more than 27,000 lives and create over 128,000 jobs if it builds 1,000 kilometres of new bus rapid transit (BRT) lanes in the next 20 years.
ii. “If India built 1,000 kilometres of new, bus rapid transit lanes, over 20 years, that could save more than 27,000 lives by reducing air pollution and accidents and create more than 128,000 jobs,” Jim Young Kim said.
iii. Speaking at the release of a report “Climate-Smart Development”, according to which $3-4 billion is needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, Mr. Jim said India could also reduce “greenhouse gas emissions by about 42 million tons”.
iv. The analysis estimates that investment of $3-4 billion would be needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, the bank said.
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