Professional Documents
Culture Documents
August General Awareness 2012
August General Awareness 2012
Persons in News
Saudi Arabias Crown Prince Nayef bin Abdul-Aziz Al Saud has died, aged 78. His 76year-old brother, Prince Salman, was appointed as the next heir to King Abdullah, who is thought to be 89.
Pakistans Supreme Court disqualified Yusuf Raza Gilani from his post as the prime minister of Pakistan. In February this year, Pakistan SC summoned Mr Gilani to charge him with contempt of court over his refusal to ask Switzerland to investigate President Asif Ali Zardari, who is also the head of the ruling Pakistan People Party, for money laundering. Mr Gilani told the court he would never think of violating judicial orders, but said he could not write the letter because the head of state he enjoyed immunity under the constitution. The allegations against Mr Zardari date back to the 1990s, when he and his late wife, former prime minister Benazir Bhutto, are suspected of using Swiss bank accounts to launder an estimated U.S.$12m allegedly paid in bribes by companies seeking customs inspection contracts. The Swiss shelved the cases in 2008 when Mr Zardari became president. Mr Gilani was succeeded by Raja Parvez Ashraf, a stalwart of the ruling PPP, as Pakistans 25th Prime Minister as the country struggled to come out of its latest political crisis. The 61-year-old Mr Ashraf, a staunch loyalist of the Bhutto family, was pitched forked into the hot seat after the original choice Makhdoom Shahbuddin faced an arrest warrant. But the new leader himself is dogged by corruption charges relating to his tenure as power minister.
Hosni Mubarak, Egypts former president, and Habib al -Adli, his interior minister, were sentenced to life in prison for their role in the brutal suppression of protesters in last years uprising. Six security chiefs were acquitted. Mr Mubarak and his two sons were cleared of separate corruption charges. But thousands protested in CairosTahrir Square, as anger grew that no one had been convicted of actually carrying out the killings.
Mohamed Morsi Isa al-Ayyat won the historic post-Hosni Mubarak presidential polls in Egypt, beating his rival and former Prime Minister Ahmed Shafiq to become the
A military court in Tunisia sentenced toppled president Zine el Abidine Ben Ali to 20 years imprisonment in absentia on various charges including incitement to murder. Mr Ben Ali, who is exiled in Saudi Arabia, was found guilty of inciting disorder, murder and looting, the court said in its verdict over the deaths of four youths, shot dead in t he town of Ouardanine in January 2011. Four protesters were shot dead in the eastern coastal town as they tried to prevent the flight of Mr Ben Alis nephew Kais, a day after the dictator Ali flew out of the country on January 14. Mr Ben Ali faces countless trials and has already been sentenced to more than 66 years in prison on a range of other charges including drug trafficking and embezzlement. He and his wife are the subject of an international arrest warrant, but Saudi authorities have not responded to Tunisian extradition requests. A military prosecutor is also seeking the death penalty against the former president over a similar incident which saw at least 22 people killed in pro-democracy protests in the towns of Thala and Kasserine in late December 2010 and January 2011. The weeks of protests that started in December 2010 toppled one of the most tightly controlled regimes in the Arab world and also set off a wave of protests which became known as the Arab Spring and is still sweeping the region.
Elinor Ostrom, the first and only woman to win the Nobel Prize in Economics, has died, aged 78. She won the Nobel Prize in 2009 for her work on resource sharing. She shared the prize, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, with University of California economist Oliver Williamson, who also studied the way economic decisions are made outside markets.
Britain celebrated
the
60th
year
of Queen
Elizabeths reign
with
four-day
extravaganza that included a flotilla of 1,000 boats on the River Thames, a star-studded concert in front of Buckingham Palace and a thanksgiving service at St Pauls Cathedral. Queen Elizabeth II assumed the monarchy in 1952.
Sports
MOTORRACING British Grand Prix, Silverstone Winner: Mark Webber (Australia) Second: Fernando Alonso (Spain) Third: Sebastian Vettel (Germany) Canadian Grand Prix, Montreal Winner: Lewis Hamilton (G. Britain / McLaren-Mercedes) Second: Romain Grosjean (France/ Lotus-Renault)
TENNIS 2012 Wimbledon Championships Mens Singles Winner: Roger Federer (Switzerland) Runner-up: Andy Murray (UK) Womens Singles Winner: Serena Williams (USA) Runner-up: Agnieszka Radwanska (Poland) Mens Doubles Winners: Jonathan (Denmark) Runners-up: Robert (Romania) Womens Doubles Winners: Serena Williams (USA)/ Venus Williams (USA) Runners-up: Andrea Hlavckov (Czech Republic) / Lucie Hradeck (Czech Republic) Mixed Doubles Winners: Mike Bryan (USA) / Lisa Raymond (USA) Runners-up: Leander Paes (India) / Elena Vesnina (Russia) 2012 French Open, Roland Garros Mens Singles Winner: Rafael Nadal (Spain) Runner-up: Novak Djokovic (Serbia) Womens Singles Winner: Maria Sharapova (Russia) Runner-up: Sara Errani (Italy) Mens Doubles Winners: Daniel Nestor (Canada) / Max Mirnyi (Serbia) Runners-up: Bob Bryan / Mike Bryan (U.S.) Womens Doubles Winners: Sara Errani / Roberta Vinci (Italy) Runners-up: Maria Kirilenko / Nadia Petrova (Russia) Mixed Doubles Winners: Sania Mirza / Mahesh Bhupathi (India) Lindsteadt (Sweden)/Horia Tecau Murray (UK)/Fredrick Nielsen
After
three
days
of
tense
parliamentary
debate,
179
lawmakers out of the chambers 300 voted in favour of a centrist coalition led by conservative Prime Minister Antonis Samaras (right) that has promised to ease austerity measures while still meeting demands of EU-IMF creditors. The outcome of the vote was never really in doubt and aligned exactly with the 179 seats held by the Samaras-led coalition that unites his conservative New Democracy party with the socialist PASOK and the much smaller Democratic Left. With parliament protocol now over, the Samaras cabinet must immediately tackle the mammoth task of turning crisis-wracked Greecearound while keeping the trust of EU-IMF creditors who hold the power to keep the countrys finances afloat. The government said its first goal, along with carrying through a raft of reforms and privatizations will be to secure an extension to the tight budget deadlines set out in Greeces second 130-billion bailout plan. But Greeces new Finance Minister Yannis Stournaras warned lawmakers that winning any kind of reprieve from lenders will not be easy as EU and IMF officials have shown stiff resistance to any talk of renegotiation, especially one that comes with a price tag.
Gupta (right) was found guilty of illegally tipping off his friend Raj Rajaratnam of confidential market information, in one of Americas biggest insider trading cases. After three weeks of trial, a U.S. court held the 63year-old guilty of providing insider information to Galleon hedge fund founder Mr Rajaratnam, who was sentenced last year to 11 years in prison for insider trading. Mr Gupta was found guilty by a federal court
in Manhattan on four counts, out of six. The court will pronounce the sentence on 18thOctober. The conviction marks a tragic fall for the Kolkata-born financial wizard, who rose from a modest background to become a force to reckon with at the Wall Street. One of the jurors said it was a difficult decision for them but the evidence against him was overwhelming. He said Gupta was a person who came to the U.S. and rose through the ranks. He led a story book life and had full support of the family as he saw during the trial. Mr Gupta was convicted on three counts of securities fraud and one count of conspiracy for passing confidential boardroom information about Goldman and Proctor & Gamble companies to the hedge fund that earned millions of dollars trading on his tips. He was acquitted of two counts of securities fraud. Mr Gupta was found guilty for passing information about the U.S.$5 billion investment by Warren Buffetts Berkshire Hathaway Inc, and of providing information to Mr Rajaratnam in October 2008 about Goldman stock. There were five security fraud charges and once conspiracy charge against him. Out of the five security fraud charges, he was found guilty on three and on the lone conspiracy charge.
In
the
largest
healthcare
fraud
settlement
in
U.S.
history,
pharma
giant GlaxoSmithKline has agreed to plead guilty to criminal charges that it unlawfully promoted certain prescription drugs and will pay U.S.$3 billion to resolve the allegations. The U.S. Justice Department said GSK failed to report certain safety data and undertook alleged false price reporting practices. The U.S.$3 billion dollar resolution is the largest payment ever by a drug company.
In a move to bring uniformity in the sector, the Central Government has decided to charge 8 per cent of gross revenue as licence fee from all telecom service providers across all categories and services from 2013-14. At present, the Department of Technology (DoT) is charging licence fee in the range of 6-10 per cent depending upon type of service and circle. A uniform annual licence fee rate of 8 per cent of AGR shall be adopted across all categories of service areas (Metro A, B and C categories) of UAS/CMTS/Basic service licences in two steps starting from July 1, 2012. Starting July 1, the DoT will impose a fee ranging from 7 to 9 per cent on operators depending on the category of the circle while from April 1, 2013, onward, the uniform fee of 8 per cent will be charged.
Contraction in capital goods and mining sectors pulled down the industrial growth to 2.4 per cent in May, prompting the government to suggest that RBI cut interest rates in the forthcoming policy review on July 31. In view of high inflation, the RBI in its policy review last month did not cut rates, although there was intense pressure from the industry. During the first two months of this fiscal (April-May), the industrial growth rate decelerated sharply to 0.8 per cent from 6.2 per cent in the same period of 2011-12. Also there was a contraction in April at (-) 0.9 per cent, as against 0.1 per cent growth reported previously. Growth in factory output, as measured by the Index of Industrial Production (IIP), was 6.2 per cent in May 2011. Meanwhile, the industrial growth rate for April 2012 was revised to 0.9 per cent, from 0.1 per cent reported earlier. For the first two months of the current fiscal, April-May, the industrial growth is sharply lower at 0.8 per cent, compared to 5.7 per cent in the year-ago period. According to the data, the capital goods output declined 7.7 per cent in May, as against a growth of 6.2 per cent in the same month last year. Mining output
Global credit rating agency Fitch cut credit rating outlook to negative of 11 financial entities including SBI, ICICI Bank, Punjab National Bank, and Axis Bank. The action came just a week after revising Indias outlook to negative. The outlook revision of the financial institutions reflects their close linkages with the sovereign by virtue of their high exposure to domestic counterparties and holdings of domestic sovereign debt. The list of downgraded entities includes six government banks (including an international banking subsidiary of a government bank) and two private banks. These include Bank of Baroda, Bank of Baroda (New Zealand) Ltd (BOBNZ), Canara Bank, and IDBI Bank. Besides two wholly owned government institutions Export-Import Bank of India and Housing and Urban Development Corporation Ltd (HUDCO) have also been similarly downgraded. Besides, the outlook of IDFC Ltd and Indian Railway Finance Corporation Ltd outlook has also become negative. However, Fitch said the banks continue to have reasonable customer deposit base, domestic franchises and adequate capital. The non-banking financial entities, meanwhile, lack the funding advantage, which puts them more at risk during times of increased market volatility, it said.
Miscellaneous-1
The tranquil stretches of emerald green backwaters in Mumbai and Kerala are among several locales in the western and eastern coasts facing threat from the rising sea level due to climate change. Deltas of the Ganga, Krishna, Godavari, Cauvery and Mahanadi on the east coast may also be threatened along with irrigated land and adjoining settlements, according to a Government report. It is estimated that sea level rise by 3.5 to 34.6 inches between 1990 and 2100 would result in saline coastal groundwater, endangering wetlands and inundating valuable land
China completed its first manned space docking as a spacecraft carrying three astronauts including the countrys first spacewoman, successfully coupled with an orbiting module, in a major milestone for its ambitious space programme. With this China has become only the third country after the U.S. and Russia to achieve a manned docking. This is the fourth time China has launched a manned mission into space. It is regarded as a prelude to Chinas plans to send a manned mission to Moon in the next few years. China conducted its first manned mission in 2003 followed it up in 2005 and 2008. The three astronauts on board Shenzhou-9 (Divine Craft) will now enter the orbiting space lab Tiangong-1 or Heavenly Palace, that will give another boost to Chinas goal of completing a space station by 2020.
Miscellaneous-2
Monsoon plays truant, aggravates already dismal economic scene
Indias crucial monsoon will be normal this year but with less heavier rains as the weather office marginally downgraded its earlier forecast. Quantitatively, monsoon season rainfall for the country as a whole will be 96 per cent of the long period average, Laxman Singh Rathore, Director General, IndiaMeteorological Department (IMD) said. In April, the IMD had said the country would receive 99 per cent rains of the long period average (LPA). A normal monsoon means rainfall between 96-104 per cent of 50-year average rains during the four-month season from June to September. The LPA has been pegged at 89 cm. Most parts of the country are expected to receive good rains in July-August, the crucial months for the countrys trillion -dollar economy which depends largely on rain-fed agriculture. Rains in July this year are likely to be 98 per cent of the long period average, while the rainfall in August is forecast to be 96 per cent of the LPA. The Northwest region, including Punjab and Haryana, considered to be Indias granary states, are expected to receive below normal rains at 93 per cent of the LPA, according to the IMD. Monsoon arrived four days late over Kerala on 5th June and is yet to pick up steam due to a string of atmospheric storms in the south-east Asian region which had affected the monsoon current.