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Articles from General Knowledge Today

Indian companies can continue to buy back FX convertible bonds

2012-07-06 20:07:42 puneet

The Reserve Bank of India has allowed companies to continue to buy back foreign currency convertible bonds (FCCBs) under the approval route. The central bank will consider proposals from Indian companies for buyback of FCCBs, if the buyback value is at a minimum discount of 5 percent on the accreted value, it said in a statement. The buyback scheme would lapse after March 31, the RBI. Indian companies face convertible bond redemptions of nearly $5.5 billion this year. A sharp economic and corporate growth slowdown, weakening of the rupee that hit record lows last month and a plunge in stock values have made the debt obligation very costly for some companies.

Mitchell to be first US Ambassador to Myanmar in 22 years

2012-07-06 20:07:42 puneet

Myanmar and the United States have agreed to re-establish diplomatic relations at the ambassadorial level. Myanmar has agreed to the appointment of Derek J Mitchell as US Ambassador Extraordinary to the country. Mitchell will be the first ambassador of the U.S. to Myanmar in 22 years following the country's historic election in April. Myanmar's acceptance of the appointment of Mitchell, who has been serving as US Special Representative and Policy Coordinator for Myanmar, signified the re-establishment of diplomatic relations between the two countries.

FIFA concocting to vote on introduction of Goal Line Technology

2012-07-06 20:07:29 puneet

FIFA, the Footballs governing body is concocting to vote on the initiation of GOAL LINE TECHNOLOGY. Pressure is developing on the football authorities following a series of high profile errors by referees, including one in the latest European Championships. A goal by Ukraine against England was disallowed in spite of television footage indicating that the ball had undoubtedly crossed the line. FIFA is anticipated to sanction two systems - a camera based system and one which uses a censor in the ball.

UK bans IM
2012-07-06 20:07:27 puneet

The UK has banned IM (Indian Mujahideen) quoting the undiscerning mass casualty attacks carried out by the LeT-linked terror group in India and the risk it posed to British nationals in the country. British MPs voted nem con to ban IM, placing it on the list of 47 organizations that have been banned from operating in the UK. The decision was taken after thoroughly reviewing all the available information and evidence about the India-based terror group. The IM is also banned in other countries, including the United States and New Zealand. India had banned IM in June 2010 after it was suspected of involvement in the attack on a Pune bakery.

Thorat Committee tables its recommendations

2012-07-06 19:07:28 puneet

The Committee formed by the HRD Ministry to probe dissents to political science textbooks egressed by the NCERTas submitted its 39-page report, which has come in for predictable criticism. The Thorat committee advocated that 21 cartoons be blue-pencilled and some other changes be made to the textbooks for following year. The Thorat Committee report will now be analyzed by NCERTs textbook-monitoring committee.

Reports of the Thorat committees recommendations also bring out that, evidently, some of the selections that went into the drafting of the textbooks were dubious, particularly, it is clear that there was a hypertrust on editorial cartoons as a pedagogical instrument.

India, Poland to heighten bilateral cooperation in Film sector

2012-07-06 19:07:06 puneet

India and Poland are to increase bilateral cooperation in the Film sector. In this connection, the Information and Broadcasting Minister Ambika Soni is on a 3-day visit to Poland. India will ink an audio visual coproduction agreement that will furnish a legal framework for encouraging audio-visual productions. Ms. Soni will also push India as a filming destination and exhibit the policy initiatives attempted to ease coproduction arrangements.