General Affairs
Government Plans To Declare 100 Yoga Parks Across The Country
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As it gears up for mega Yoga Day celebrations, the government has plans to declare a hundred parks especially dedicated for yoga activities across the country to promote the traditional practice.
Prime Minister Narendra Modi will participate in the main event of the International Day of Yoga (IDY) which will be held in Lucknow, on June 21.
Around 150 countries are expected to participate in the mega event, with Indian Missions in those nations coordinating the activities. IDY will be observed at some of the major landmarks like the Eiffel Tower in Paris, the Trafalgar Square in London and the Central Park in New York among others.
"It would be no exaggeration to say that the world has acknowledged the supremacy of India in the field of yoga. Last two years, the IDY was celebrated across the globe with active participation of more than 190 countries," Minister of State for AYUSH Shripad Yesso Naik said.
The Prime Minister's Award for outstanding contribution for promotion and development of Yoga at national and international level will be given to individuals or organisations who have made significant impact on the society for a sustained period of time by way of promotion and development of Yoga, Mr Naik said.
A screening committee chaired by AYUSH secretary has been constituted to recommend the names and the the jury headed by Cabinet Secretary will finalise the four winners, two in each category.
The ministry is also planning to have 100 Yoga parks across the country which will be managed by Yoga or other organisations voluntarily.
The prime minister, senior ministers, Uttar Pradesh chief minister and yoga gurus along with nearly 51,000 people are expected to take part in the event.
In Delhi, seven main events are being planned in different places in association with NDMC, DDA and Yoga organisations.
Apart from this, yoga events will be held in different parts of the country as well as main cities like Paris, London and New York across the globe.
The ministry on its official website has requested the people visiting the web page related to IDY to take a pledge to make yoga an integral part of their daily life.
The first IDY celebration was organised at Rajpath in New Delhi on June 21, 2015 in which representatives of 191 countries had participated. Last year, the main function was in Chandigarh.
The United Nations General Assembly, heeding to a call by Prime Minister Modi, had made a declaration in December 2014 to observe June 21 every year as IDY.
Prime Minister Narendra Modi will participate in the main event of the International Day of Yoga (IDY) which will be held in Lucknow, on June 21.
Around 150 countries are expected to participate in the mega event, with Indian Missions in those nations coordinating the activities. IDY will be observed at some of the major landmarks like the Eiffel Tower in Paris, the Trafalgar Square in London and the Central Park in New York among others.
The Prime Minister's Award for outstanding contribution for promotion and development of Yoga at national and international level will be given to individuals or organisations who have made significant impact on the society for a sustained period of time by way of promotion and development of Yoga, Mr Naik said.
A screening committee chaired by AYUSH secretary has been constituted to recommend the names and the the jury headed by Cabinet Secretary will finalise the four winners, two in each category.
The ministry is also planning to have 100 Yoga parks across the country which will be managed by Yoga or other organisations voluntarily.
The prime minister, senior ministers, Uttar Pradesh chief minister and yoga gurus along with nearly 51,000 people are expected to take part in the event.
In Delhi, seven main events are being planned in different places in association with NDMC, DDA and Yoga organisations.
Apart from this, yoga events will be held in different parts of the country as well as main cities like Paris, London and New York across the globe.
The ministry on its official website has requested the people visiting the web page related to IDY to take a pledge to make yoga an integral part of their daily life.
The first IDY celebration was organised at Rajpath in New Delhi on June 21, 2015 in which representatives of 191 countries had participated. Last year, the main function was in Chandigarh.
The United Nations General Assembly, heeding to a call by Prime Minister Modi, had made a declaration in December 2014 to observe June 21 every year as IDY.
Paying 'Close Attention' To Incident Of Missing Indian Sukhoi Jet: China
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Chinese military said today that it was paying "close attention" to the incident in which an Indian Air Force fighter jet with two pilots on board went missing along the China-India border two days ago.
Paying "close attention" to it, Chinese defence spokesman Col Ren Guochang said when asked at a briefing about whether the Chinese military would help trace the Indian Air Force's missing Sukhoi Su-30 fighter jet.
However, he declined to give any details and said that the foreign ministry has reacted on the issue yesterday. Col Ren's remarks appeared slightly positive compared to the curt comments of Chinese Foreign Ministry spokesman Lu Kang who had said that he has no information on the missing plane. "For the situation you mentioned, I have no relevant information to offer at the moment," Mr Lu had told the media in Beijing when asked about the missing Indian Air Force plane.
The Sukhoi Su-30 plane lost contact with the Tezpur Air Force station from where it took off at 10:30 am on Tuesday.
Paying "close attention" to it, Chinese defence spokesman Col Ren Guochang said when asked at a briefing about whether the Chinese military would help trace the Indian Air Force's missing Sukhoi Su-30 fighter jet.
However, he declined to give any details and said that the foreign ministry has reacted on the issue yesterday. Col Ren's remarks appeared slightly positive compared to the curt comments of Chinese Foreign Ministry spokesman Lu Kang who had said that he has no information on the missing plane. "For the situation you mentioned, I have no relevant information to offer at the moment," Mr Lu had told the media in Beijing when asked about the missing Indian Air Force plane.
The Sukhoi Su-30 plane lost contact with the Tezpur Air Force station from where it took off at 10:30 am on Tuesday.
UN Rejects Pak Claim That Indian Troops Targeted Its Observers Near LoC
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The United Nations has dismissed Pakistan Army's claim that its military observers came under attack from Indian troops near the Line of Control, saying there was "no evidence" of them being targeted.
UN Secretary General Antonio Guterres' spokesperson Stephane Dujarric said there was no evidence that a UNMOGIP (United Nations Military Observer Group in India and Pakistan) vehicle was targeted by the Indian Army along the LoC near the Khanjar sector.
"There is no evidence that the UNMOGIP military observers were targeted by the gunfire. No UN military observer was injured," he told reporters yesterday.
In a statement, the Inter-Services Public Relations (ISPR), the media wing of the Pakistan Armed Forces, had said that a vehicle carrying two officers of the UN military observer group came under attack by Indian troops during a visit to the LoC.
The Pakistan Army had claimed UNMOGIP officers Major Emmanual of the Philippines and Major Mirko of Croatia were in the vehicle.
According to the UN Security Council mandate of 1971, UNMOGIP observes and reports on ceasefire violations along and across the LoC, as well as reports developments that could lead to ceasefire violations.
India has maintained that UNMOGIP has outlived its utility and is irrelevant after the Simla Agreement and the consequent establishment of the Line of Control.
The observer group is headed by Major Gen Per Lodin of Sweden. It currently has 38 military observers and 73 civilian personnel.
UN Secretary General Antonio Guterres' spokesperson Stephane Dujarric said there was no evidence that a UNMOGIP (United Nations Military Observer Group in India and Pakistan) vehicle was targeted by the Indian Army along the LoC near the Khanjar sector.
"There is no evidence that the UNMOGIP military observers were targeted by the gunfire. No UN military observer was injured," he told reporters yesterday.
In a statement, the Inter-Services Public Relations (ISPR), the media wing of the Pakistan Armed Forces, had said that a vehicle carrying two officers of the UN military observer group came under attack by Indian troops during a visit to the LoC.
The Pakistan Army had claimed UNMOGIP officers Major Emmanual of the Philippines and Major Mirko of Croatia were in the vehicle.
According to the UN Security Council mandate of 1971, UNMOGIP observes and reports on ceasefire violations along and across the LoC, as well as reports developments that could lead to ceasefire violations.
India has maintained that UNMOGIP has outlived its utility and is irrelevant after the Simla Agreement and the consequent establishment of the Line of Control.
The observer group is headed by Major Gen Per Lodin of Sweden. It currently has 38 military observers and 73 civilian personnel.
India, Singapore Navies Head Home After South China Sea War Games
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The week-long maritime exercise between the Indian Navy and the Republic of Singapore Navy (RSN) has ended. The Singapore India Maritime Bilateral Exercise 2017, or SIMBEX-17, which ended yesterday also saw the maiden participation of Singapore's F-15SG fighter jets, Singapore's Ministry of Defence said in a statement.
Hosted by Singapore, the exercise was held at the now renamed "RSS Singapura-Changi Naval Base" in the land phase, and in the South China Sea in the maritime phase. This year's exercise was the 24th iteration of the annual bilateral exercise held since 1994.
The RSN deployed two frigates, namely RSS Formidable, equipped with an S-70B naval helicopter, and RSS Supreme, and a missile corvette called RSS Victory.
The Indian Navy participated with two frigates INS Sahyadri and INS Shivalik, corvette INS Kamorta, oiler INS Jyoti, and a P8-I maritime patrol aircraft.
The Republic of Singapore Air Force (RSAF) also deployed two F-16D fighter aircraft and a Fokker-50 maritime patrol aircraft for the exercise. During the exercise, the two navies conducted a series of advanced naval warfare moves, including air defence exercises and live-firings, the defence ministry statement said.
The sea phase culminated in a mission-oriented surface action group exercise where assets and personnel from the two navies worked together to plan and execute a series of warfare missions, it said.
Over the years, SIMBEX has grown in scope and complexity, expanding beyond its traditional emphasis on anti-submarine warfare to incorporate elements of maritime security, anti-air and anti-surface warfare.
"SIMBEX has progressed both in scale and complexity over the years - from a serial-based exercise to today's mission-based exercise - incorporating scenarios with threats from surface, underwater and air," Commanding Officer of the RSS Formidable, Lieutenant-Colonel Albert Khoo said.
Apart from SIMBEX, the two navies also interact regularly through professional exchange programmes, staff talks and training courses. INS Sahyadri and INS Kamorta joined the RSN's Golden Jubilee celebrations, participating in both the inaugural Singapore International Maritime Review at RSS Singapura-Changi Naval Base on May 15 and the International Maritime Defence Exhibition and Conference Asia from May 16 to 18.
Both navies are also exploring new and enhanced areas of cooperation in the maritime domain, the statement said.
Hosted by Singapore, the exercise was held at the now renamed "RSS Singapura-Changi Naval Base" in the land phase, and in the South China Sea in the maritime phase. This year's exercise was the 24th iteration of the annual bilateral exercise held since 1994.
The RSN deployed two frigates, namely RSS Formidable, equipped with an S-70B naval helicopter, and RSS Supreme, and a missile corvette called RSS Victory.
The Republic of Singapore Air Force (RSAF) also deployed two F-16D fighter aircraft and a Fokker-50 maritime patrol aircraft for the exercise. During the exercise, the two navies conducted a series of advanced naval warfare moves, including air defence exercises and live-firings, the defence ministry statement said.
The sea phase culminated in a mission-oriented surface action group exercise where assets and personnel from the two navies worked together to plan and execute a series of warfare missions, it said.
Over the years, SIMBEX has grown in scope and complexity, expanding beyond its traditional emphasis on anti-submarine warfare to incorporate elements of maritime security, anti-air and anti-surface warfare.
"SIMBEX has progressed both in scale and complexity over the years - from a serial-based exercise to today's mission-based exercise - incorporating scenarios with threats from surface, underwater and air," Commanding Officer of the RSS Formidable, Lieutenant-Colonel Albert Khoo said.
Apart from SIMBEX, the two navies also interact regularly through professional exchange programmes, staff talks and training courses. INS Sahyadri and INS Kamorta joined the RSN's Golden Jubilee celebrations, participating in both the inaugural Singapore International Maritime Review at RSS Singapura-Changi Naval Base on May 15 and the International Maritime Defence Exhibition and Conference Asia from May 16 to 18.
Both navies are also exploring new and enhanced areas of cooperation in the maritime domain, the statement said.
CBSE Results Will Be Declared On Time, Says Education Minister Prakash Javadekar
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Amid uncertainty among millions of schoolchildren, Union Education Minister Prakash Javadekar has said that the CBSE or Central Board of Secondary Education will declare Class 12 results on time.
"CBSE result will be declared on time, the date will be told by CBSE. No need to worry about court's order, justice will be done for all,"Mr Javadekar has said.
Students are worried about a delay after the Delhi High Court asked the CBSE not to scrap its "moderation policy" to add grace marks to students for difficult questions in exams. The board may have to rework marks, students and parents fear.
On Monday, the High court had termed the board's move to scrap the policy as "unfair and irresponsible".
The decision to get rid of the marks moderation policy was challenged by a parent and a lawyer who argued that this would have a "drastic effect on the students".
The petitioners said it would badly impact students planning to study abroad.
The results were initially expected yesterday though the board has not yet officially announced any date.
The board is under pressure to declare results soon after a delay because of state elections earlier this year. Colleges like in Delhi University have started their admission process and for Class 12 students, the results are critical.
Under the moderation policy, if the board tested students on three different sets of questions papers for an exam, for the question paper perceived as toughest, a student who may get extra marks, even if they have scored 80 per cent.
After the exams were held this year, the government said the practice would be discontinued.
This year, nearly 11 lakh students appeared for the central board's Class 12 exams and some nine lakh appeared for the Class 10 exam.
"CBSE result will be declared on time, the date will be told by CBSE. No need to worry about court's order, justice will be done for all,"Mr Javadekar has said.
Students are worried about a delay after the Delhi High Court asked the CBSE not to scrap its "moderation policy" to add grace marks to students for difficult questions in exams. The board may have to rework marks, students and parents fear.
The decision to get rid of the marks moderation policy was challenged by a parent and a lawyer who argued that this would have a "drastic effect on the students".
The petitioners said it would badly impact students planning to study abroad.
The results were initially expected yesterday though the board has not yet officially announced any date.
The board is under pressure to declare results soon after a delay because of state elections earlier this year. Colleges like in Delhi University have started their admission process and for Class 12 students, the results are critical.
Under the moderation policy, if the board tested students on three different sets of questions papers for an exam, for the question paper perceived as toughest, a student who may get extra marks, even if they have scored 80 per cent.
After the exams were held this year, the government said the practice would be discontinued.
This year, nearly 11 lakh students appeared for the central board's Class 12 exams and some nine lakh appeared for the Class 10 exam.
Business Affairs
'Petrol prices could go as low as Rs 30 in future'
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Technology may come as the answer to the fuel woes of humanity and turn the tables around in a matter of few years. According to futurist Tony Seba, technological advancements will lessen our dependency on petroleum products to fuel vehicles, bringing down the demand for the same.
An instructor at Standfords' Continuing Studies Program, Seba is banking his claim on smart vehicles. According to him, our demand for fuel oil will come down with the advent of self-drive cars, increase in public transportation and smarter driving technologies. This could bring down oil prices to even $25 a barrel.
Quite recently, India too began promoting electric vehicles on war footing, with the goal of no sale of diesel vehicles for the next 15 years. Power Minsiter Piyush Goyal had recently stated that the government is looking forward to have an all electric car fleet by 2030.
Seba, who came to be known for predicting decline in solar energy tariffs when they were tenfold what they are today, said this is going to happen to petrol in as little as five years. Quite recently, solar power prices went down to somewhere around Rs 2, something unforeseeable a few years back on account of costly infrastructure and difficult environments needed to produce it.
"Oil demand will peak 2021-2020 and will go down 100 million barrels, to 70 million barrels within 10 years. And what that means, the new equilibrium price is going to be $25," Seba told CNBC.
He further added, "Imagine a Starbucks on wheels. Essentially transportation is going to be so cheap, it's going to be essentially cheaper for Starbucks to run around and take me to work, which is, you know, 60 kilometers away, and give that transportation for free, in exchange for going to buy coffee in that hour of commute."
Technology may come as the answer to the fuel woes of humanity and turn the tables around in a matter of few years. According to futurist Tony Seba, technological advancements will lessen our dependency on petroleum products to fuel vehicles, bringing down the demand for the same.
An instructor at Standfords' Continuing Studies Program, Seba is banking his claim on smart vehicles. According to him, our demand for fuel oil will come down with the advent of self-drive cars, increase in public transportation and smarter driving technologies. This could bring down oil prices to even $25 a barrel.
Quite recently, India too began promoting electric vehicles on war footing, with the goal of no sale of diesel vehicles for the next 15 years. Power Minsiter Piyush Goyal had recently stated that the government is looking forward to have an all electric car fleet by 2030.
Seba, who came to be known for predicting decline in solar energy tariffs when they were tenfold what they are today, said this is going to happen to petrol in as little as five years. Quite recently, solar power prices went down to somewhere around Rs 2, something unforeseeable a few years back on account of costly infrastructure and difficult environments needed to produce it.
"Oil demand will peak 2021-2020 and will go down 100 million barrels, to 70 million barrels within 10 years. And what that means, the new equilibrium price is going to be $25," Seba told CNBC.
He further added, "Imagine a Starbucks on wheels. Essentially transportation is going to be so cheap, it's going to be essentially cheaper for Starbucks to run around and take me to work, which is, you know, 60 kilometers away, and give that transportation for free, in exchange for going to buy coffee in that hour of commute."
Railways to seek cabinet approval for Rs 35,000 crore project for infrastructure development
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Aiming at a major push for infrastructure, the railways will raise Rs 35,000 crore with World Market assistance to create a separate fund for investment in rail sector.
The proposed Railways of India Development Fund (RIDF) would be independent of rail budget and intended for all big ticket rail-based projects, including station redevelopment, rail expansion, port connectivity and freight terminal upgradation in PPP model.
The World Bank is understood to have given its in-principle approval for the creation of the fund and the railways will seek cabinet approval for setting up RIDF next month.
Besides, the railways will also seek cabinet nod for going ahead with the Rs 17,000 crore speed enhancement project in Delhi-Mumbai and Delhi-Howrah sectors.
The budget 2017-18 has announced the Rs 17,000 crore semi-high speed rail project for Delhi-Mumbai and Delhi-Howrah routes.
We will seek cabinet approvals for both projects -- RIDF and semi-high speed in two major trunk routes -- shortly as the ground work for these projects are almost completed, said a senior Railway Ministry official.
The semi-high speed project envisages running trains on Delhi-Howrah and Delhi-Mumbai corridors at 160 kmph to 200 kmph speed to reduce travel time considerably between the two megapolis.
The railways plans to increase speed of both passenger and freight trains considerably and redevelop more than 100 stations by 2022.
Aiming at a major push for infrastructure, the railways will raise Rs 35,000 crore with World Market assistance to create a separate fund for investment in rail sector.
The proposed Railways of India Development Fund (RIDF) would be independent of rail budget and intended for all big ticket rail-based projects, including station redevelopment, rail expansion, port connectivity and freight terminal upgradation in PPP model.
The World Bank is understood to have given its in-principle approval for the creation of the fund and the railways will seek cabinet approval for setting up RIDF next month.
Besides, the railways will also seek cabinet nod for going ahead with the Rs 17,000 crore speed enhancement project in Delhi-Mumbai and Delhi-Howrah sectors.
The budget 2017-18 has announced the Rs 17,000 crore semi-high speed rail project for Delhi-Mumbai and Delhi-Howrah routes.
We will seek cabinet approvals for both projects -- RIDF and semi-high speed in two major trunk routes -- shortly as the ground work for these projects are almost completed, said a senior Railway Ministry official.
The semi-high speed project envisages running trains on Delhi-Howrah and Delhi-Mumbai corridors at 160 kmph to 200 kmph speed to reduce travel time considerably between the two megapolis.
The railways plans to increase speed of both passenger and freight trains considerably and redevelop more than 100 stations by 2022.
Sugar, tea, coffee, milk powder to cost less under GST
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Sugar, tea, coffee and milk powder will cost less with tax incidence coming down under the goods and services tax scheduled to be rolled out from July 1.
Currently, sugar attracts specific central excise duty of Rs 71 per quintal plus a cess of Rs 124, which translates into ad valorem rate of more than 6 per cent.
If central sales tax (CST), octroi, and entry tax are factored in, the total incidence works out to more than 8 per cent.
"As against this, the proposed GST rate on sugar is only 5 per cent, i.e. 3 per cent less than the present incidence of taxes," the finance ministry said.
The tax under GST on tea and coffee -- other than instant coffee -- will come down to 5 per cent, from the current 7 per cent.
Milk powder attracts nil central excise duty and 5 per cent VAT.
The embedded taxes in production of milk powder and the incidence on account of CST, octroi, and entry tax work out to more than 7 per cent. As against this, the proposed GST on milk powder is only 5 per cent.
Termed as the most ambitious tax reform in the country, GST will subsume most of the indirect taxes.
Sugar, tea, coffee and milk powder will cost less with tax incidence coming down under the goods and services tax scheduled to be rolled out from July 1.
Currently, sugar attracts specific central excise duty of Rs 71 per quintal plus a cess of Rs 124, which translates into ad valorem rate of more than 6 per cent.
If central sales tax (CST), octroi, and entry tax are factored in, the total incidence works out to more than 8 per cent.
"As against this, the proposed GST rate on sugar is only 5 per cent, i.e. 3 per cent less than the present incidence of taxes," the finance ministry said.
The tax under GST on tea and coffee -- other than instant coffee -- will come down to 5 per cent, from the current 7 per cent.
Milk powder attracts nil central excise duty and 5 per cent VAT.
The embedded taxes in production of milk powder and the incidence on account of CST, octroi, and entry tax work out to more than 7 per cent. As against this, the proposed GST on milk powder is only 5 per cent.
Termed as the most ambitious tax reform in the country, GST will subsume most of the indirect taxes.
Sensex closes 448 points higher, Nifty reclaims 9,500 level
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The Indian market on Thursday closed amid global markets hitting record highs and the dollar falling after the US Federal Reserve signalled caution in raising interest rates. Oil prices rose in anticipation of top producers agreeing to extend output cuts for up to a year.
While the Sensex closed 448 points or 1.48 percent higher, Nifty reclaimed the crucial 9,500 level and closed 1.59 percent or 149 points higher at 9509 level.
Short-covering of bets, today being the last session of May expiry in the derivatives segment, supported the recovery.
On the 30-stock Sensex, 26 closed higher with Larsen and Toubro (4.69 percent), HDFC Bank (3.10 percent), and ICICI Bank (3.06 percent) being the top gainers.
Market breadth was positive with 1878 stocks closing higher against 805 falling on the BSE.
Lupin was the top loser, falling 7.31 percent or 89 points to 1137.95 level.
The TCS stock closed 2.59 per cent or 66 points higher at 2,624 level on the BSE amid the firm's ongoing Rs 16,000 crore mega buyback offer from May 18. The offer will close on May 31.
Top gainers on the BSE were Sintex and JP Associates, rising 38 percent and 22.5 percent, respectively.
Dish TV (10.72 percent) and Videocon Industries (9.94 percent) were the top losers on the BSE.
The Videocon Industries stock closed at Rs 52.55, after Central Bank of India too declared its loan exposure to the Mumbai-based firm as a non-performing asset (NPA). Videocon Industries has a loan of Rs 2,700 crore from Central Bank of India.
Global markets
European shares opened higher, but quickly dipped into negative territory. The pan-European STOXX 600 index was last down 0.3 percent, led lower by resources companies .SXPP after a 4 percent drop in iron ore on China's Dalian Commodity Exchange.
Earlier, Asian stocks, as measured by MSCI gained almost 1 percent to a two-year high after the U.S. S&P 500 index hit a closing record on Wednesday. This helped push MSCI's 46-country world stock index to a record high of 464.38 percent, up 0.3 percent on the day.
The Indian market on Thursday closed amid global markets hitting record highs and the dollar falling after the US Federal Reserve signalled caution in raising interest rates. Oil prices rose in anticipation of top producers agreeing to extend output cuts for up to a year.
While the Sensex closed 448 points or 1.48 percent higher, Nifty reclaimed the crucial 9,500 level and closed 1.59 percent or 149 points higher at 9509 level.
Short-covering of bets, today being the last session of May expiry in the derivatives segment, supported the recovery.
On the 30-stock Sensex, 26 closed higher with Larsen and Toubro (4.69 percent), HDFC Bank (3.10 percent), and ICICI Bank (3.06 percent) being the top gainers.
Market breadth was positive with 1878 stocks closing higher against 805 falling on the BSE.
Lupin was the top loser, falling 7.31 percent or 89 points to 1137.95 level.
The TCS stock closed 2.59 per cent or 66 points higher at 2,624 level on the BSE amid the firm's ongoing Rs 16,000 crore mega buyback offer from May 18. The offer will close on May 31.
Top gainers on the BSE were Sintex and JP Associates, rising 38 percent and 22.5 percent, respectively.
Dish TV (10.72 percent) and Videocon Industries (9.94 percent) were the top losers on the BSE.
The Videocon Industries stock closed at Rs 52.55, after Central Bank of India too declared its loan exposure to the Mumbai-based firm as a non-performing asset (NPA). Videocon Industries has a loan of Rs 2,700 crore from Central Bank of India.
Global markets
Global markets
European shares opened higher, but quickly dipped into negative territory. The pan-European STOXX 600 index was last down 0.3 percent, led lower by resources companies .SXPP after a 4 percent drop in iron ore on China's Dalian Commodity Exchange.
Earlier, Asian stocks, as measured by MSCI gained almost 1 percent to a two-year high after the U.S. S&P 500 index hit a closing record on Wednesday. This helped push MSCI's 46-country world stock index to a record high of 464.38 percent, up 0.3 percent on the day.
Indian Oil Corporation net profit rises 85% in Q4
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Indian Oil Corp said on Thursday net profit rose 85 percent in the fourth quarter, in line with analysts' expectations, as revenue from operations grew.
Country's top refiner said profit came in at Rs 3,721 crore ($576.45 million) in the quarter ended March 31, compared with Rs 2006 crore a year earlier.
Revenue from operations jumped 24 percent to Rs 1.22 trillion. Analysts on average expected March-quarter net profit of Rs 3795 crore, Thomson Reuters data showed.
Average gross refining margins improved to $7.77 per barrel in the financial year ended March compared with $5.06 per barrel in the 2015-16 period.
Indian Oil Corp said on Thursday net profit rose 85 percent in the fourth quarter, in line with analysts' expectations, as revenue from operations grew.
Country's top refiner said profit came in at Rs 3,721 crore ($576.45 million) in the quarter ended March 31, compared with Rs 2006 crore a year earlier.
Revenue from operations jumped 24 percent to Rs 1.22 trillion. Analysts on average expected March-quarter net profit of Rs 3795 crore, Thomson Reuters data showed.
Average gross refining margins improved to $7.77 per barrel in the financial year ended March compared with $5.06 per barrel in the 2015-16 period.
General Awareness
P V Sindhu elected to Badminton World Federation Athletes’ Commission
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On May 24, 2017, Indian badminton player P.V. Sindhu became the second Indian to be inducted in the Badminton World Federation (BWF) Athletes’ Commission. India’s Saina Nehwal is already in the BWF Athletes’ Commission.
- In the election which took place on the sidelines of the Sudirman Cup in Gold Coast, PV Sindhu topped the ballot with 129 votes.
- PV Sindhu, along with Marc Zweibler of Germany and Kristy Gilmour of Scotland will serve a four-year term in this role.
- Lithuania’s Akvile Stapusaityte will also join BWF Athletes’ Commission for tenure of two years. She will replace China’s Tan Yuanting, who retired after serving two years on the panel.
- The new members will join Shintaro Ikeda of Japan,Koen Ridder of The Netherlands and India’s Saina Nehwal on the Commission.
Brief Biography of PV Sindhu:
P V Sindhu was born on July 5, 1995 in Hyderabad, India.
- She received professional coaching in badminton at Gopichand Badminton Academy in Hyderabad, founded by 2001 All England Open Badminton Champion Pullela Gopichand.
- In September 2012, she broke into the top 20 of theBWF World Ranking. She currently ranks 4th in the BWF World Ranking.
- At 2016 Rio Olympics, she won a silver medal in Badminton women’s singles category and thereby became first Indian woman to win an Olympic silver medal.
About Badminton World Federation (BWF):
BWF is the international governing body for the sport of badminton.
- It was founded in 1934 as the International Badminton Federation. The new name Badminton World Federation (BWF) was adopted in year 2006.
- BWF is recognised by the International Olympic Committee(IOC).
- Currently BWF comprises 176 member countries.
- Head office of BWF is located in Kuala Lumpur, Malaysia.
- Poul-Erik Hoyer Larsen is the current President of BWF.
On May 24, 2017, Indian badminton player P.V. Sindhu became the second Indian to be inducted in the Badminton World Federation (BWF) Athletes’ Commission. India’s Saina Nehwal is already in the BWF Athletes’ Commission.
- In the election which took place on the sidelines of the Sudirman Cup in Gold Coast, PV Sindhu topped the ballot with 129 votes.
- PV Sindhu, along with Marc Zweibler of Germany and Kristy Gilmour of Scotland will serve a four-year term in this role.
- Lithuania’s Akvile Stapusaityte will also join BWF Athletes’ Commission for tenure of two years. She will replace China’s Tan Yuanting, who retired after serving two years on the panel.
- The new members will join Shintaro Ikeda of Japan,Koen Ridder of The Netherlands and India’s Saina Nehwal on the Commission.
Brief Biography of PV Sindhu:
P V Sindhu was born on July 5, 1995 in Hyderabad, India.
- She received professional coaching in badminton at Gopichand Badminton Academy in Hyderabad, founded by 2001 All England Open Badminton Champion Pullela Gopichand.
- In September 2012, she broke into the top 20 of theBWF World Ranking. She currently ranks 4th in the BWF World Ranking.
- At 2016 Rio Olympics, she won a silver medal in Badminton women’s singles category and thereby became first Indian woman to win an Olympic silver medal.
About Badminton World Federation (BWF):
BWF is the international governing body for the sport of badminton.
- It was founded in 1934 as the International Badminton Federation. The new name Badminton World Federation (BWF) was adopted in year 2006.
- BWF is recognised by the International Olympic Committee(IOC).
- Currently BWF comprises 176 member countries.
- Head office of BWF is located in Kuala Lumpur, Malaysia.
- Poul-Erik Hoyer Larsen is the current President of BWF.
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