1. ICICI Bank launched its first branch in China
i. India’s largest private sector bank, ICICI bank has launched its first branch in Shanghai, China, which was inaugurated by Prime Minister Narendra Modi.
ii. With this branch, the Bank aims to provide greater support to Chinese and Indian corporate in their cross-border business interests.
iii. Ms. Chanda Kochhar, MD & CEO, ICICI Bank said, “Our branch in Shanghai will allow us to play a greater role in the growing trade and investment opportunity between India and China.
iv. ICICI Bank has received regulatory approval, to commence operations of Shanghai Branch in March 2015. It will begin with 17 banking professionals spread across different functions including corporate banking, operations, finance and treasury.
v. ICICI Bank’s international footprint consists of subsidiaries in United Kingdom and Canada, branches in the US, China, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai, international Finance Centre; and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia.
2. Airtel seal $2.5 billion deals from two Chinese Bank
i. Leading global telecommunication company, Bharti Airtel has sealed 2.5 billion deals from China Development Bank and Industrial and Commercial Bank of China, with an average maturity of about nine years.
ii. The deal was signed in the presence of Prime Minister Narendra Modi, who is currently on an official visit to China
iii. The China Development Bank has committed financing of up to $2 billion with an average maturity of about nine years.
iv. The Industrial and Commercial Bank of China has committed $500 million with an average life of about nine years.
3. Canada target to reduce greenhouse gas emissions by 30 % by 2030
i. Canada has announced its plans to reduce the greenhouse gas emissions by 30 per cent below 2005 levels by 2030.
ii. The government has formally submitted its target to the United Nations Framework Convention on Climate Change.
iii. Canada international efforts to create a new frame work for addressing climate change, ahead of the Climate Change Conference is scheduled to be held in December in Paris this year.
Note: The US has committed to a 26 per cent to 28 per cent cut by 2025 from 2005 levels. The European Union has a target of 35 per cent below 2005 levels by 2030. Japan is proposing to cut its greenhouse gas emissions by up to 26 per cent by 2030.
4. Infosys to open first overseas campus in China
i. Indian technology giant Infosys has announced to establish its first overseas centre outside India in China at Guizhou province, with an investment of about $120 million to tap in the burgeoning Chinese market.
ii. An MOU in this regard was signed between Infosys and the local Chinese provincial government at the India-China Business Forum, which was addressed by Prime Minister Narendra Modi in Shanghai today.
5. DD & CCTV signed an agreement for exchange of art, culture programmes
i. The Public Service Broadcaster of India, Doordarshan and China Central Television (CCTV) have signed an agreement for exchange of art, culture and development television programmes. The exchange of programmes will begin by the end 2015 and both networks will also take up co-production works for this initiative.
ii. As per the agreement, Doordarshan will provide programmes pertaining to art, culture and tourism. While, CCTV in turn will exchange human interest, development programmes and success stories. This agreement enables both Doordarshn and CCTV to share programmes on their networks free of cost.
6. Pt. Haridutt Sharma Award conferred on Anurradha Prasad
i. Senior journalist, Anurradha Prasad has been conferred with Pt. Haridutt Sharma Award for her contribution in the field of Journalism, Writing and Social Services.
ii. Presently, she is the Editor – in – Chief of News – 24, Hindi News Channel.
iii. The award was named after Pt. Haridutt Sharma, a renowned journalist and eminent writer. The Award is an annual award given by Pt. Haridutt Sharma Memorial Trust.
7. M J Joseph appointed as Controller General of Accounts
i. M J Joseph has been appointed as the Controller General of Accounts (CGA) by Union Ministry of Finance.
ii. He replaced Jawahar Thakur. Prior to this appointment he was Director General (DG) of the Bureau of Indian Standards (BIS).
iii. He also worked with the International Monitory Fund (IMF) as a Public Financial Management Adviser in Tanzania.
About Controller General of Accounts (CGA)
i. CGA is the principal Accounts Adviser to the Union Government. He is responsible for maintaining and establishing a technically sound management accounting system.
ii. He also prepares annual Union Finance Accounts and Appropriation Accounts (Civil) for presentation to the Parliament.
8. Expel President of Egypt’s Morsy, sentenced to death
i. Expel President of Egypt Mohamed Morsy was sentenced to death by an Egyptian court, over his part in a mass prison break that took place during the 2011 uprising that toppled Hosni Mubarak.
ii. He was expel by the military in July 2013, following days of mass street protests by Egyptians demanding that he be removed because of his divisive policies.
iii. He was the first democratically elected head of state in Egyptian history.
9. Gagan Narang wins bronze in ISSF World Cup
i. Gagan Narang won the bronze medal in the 50 metre Rifle Prone Event of the ISSF World Cup at Fort Benning in the US.
ii. He has earned himself a quota place for the 2016 Rio Olympics. After
Jitu Rai and Apurvi Chandela, Narang is third Indian shooter to make the Rio
cut.
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