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BUSINESS AND ECONOMICS - SEPTEMBER 2016

Appointments
India-born Rajendra Raj Rao is appointed as CEO of Ford Smart Mobility LLC, a subsidiary of Ford Motor Company.
John Thomas Kennedy is appointed as a non-executive, non-independent Director on the Board of United Spirits.
Resignations
Two Directors, Vincent Intrieri and John Lipinski resign from the Board of Chesapeake Energy.

Mergers, acquisitions and deals

German chemicals giant Bayer announces its record-breaking $66bn takeover of GM seeds business Monsanto, which will
create the world's biggest seeds and pesticides company.
United States signs a $38 billion Memorandum of Understanding (MoU) with Israel to provide the country with military
assistance over a 10-year period, making it the largest defence arrangement the US has ever had with any country.
Other important news
Canadas British Columbia province becomes the rst foreign government to issue Masala Bonds, a rupee-denominated
bond, by issuing Rs 500 crore Masala Bonds on the London Stock Exchange (LSE) and successfully raising $75 million (about
Rs 500 crore).
The G20 summit takes place in the Chinese city of Hangzhou. Coordinated action and cooperation is asserted by the
grouping to isolate supporters and sponsors of terror.
The 14th ASEAN-India Summit and 11th East Asia Summit are held at Vientiane, capital city of Laos. Apart from the 10 ASEAN
Member states, East Asia Summit includes India, China, Japan, Republic of Korea, Australia, New Zealand, United States and
Russia.
Samsung Electronics recalls its agship Galaxy Note 7 smartphone owing to incidents of phones catching re due to battery
problems.
The 2016 World Economic Freedom Index (WEFI) is released as a part of Economic Freedom of the World: 2016 Annual
Report, published by the Centre for Civil Society in collaboration with Canadas Fraser Institute. The top 10 Countries in
2016 World Economic Freedom Index (WEFI) are Hong Kong, Singapore New Zealand, Switzerland, Canada, Georgia,
Ireland, Mauritius, UAE and Australia.
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