Monday, 7 March 2016

DAILY CURRENT AFFAIRS 7TH March 2016

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TOP HEADLINES OF TODAY 7TH FEBRUARY, 2016 DAILY CURRENT AFFAIRS

Govt can’t waive tax on Vodafone, Cairn

  • Government cannot waive the multi-billion dollar tax liabilities that Vodafone and Cairn Energy face, although it has done the most it could in offering to remove interest and penalty.
  • The Budget for 2016-17 now makes the offer more formal and puts it on statue.The government has defined its limits.
  • Explaining why the government could not completely waive the tax demands raised against the MNCs, he said a retrospective amendment to the Income Tax Act was brought in by the previous government and the current government cannot undo it completely.

China on ‘blue alert’ for cold snap

  • China’s national observatory issued a blue alert for a cold snap that will bring strong winds and lower temperatures to most of the country this week.
  • China has a four-tier warning system for severe weather, with red being the most serious, followed by orange, yellow and blue. Most of central and eastern China will see temperatures drop by 6 to 10 degrees Celsius from Tuesday to Friday, with rain and snow in some areas, the National Meteorological Centre (NMC).

TechM to launch startup garage for in-house entrepreneurs

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  • Tech Mahindra is all set to create a ‘startup garage’ for its in-house entrepreneurs.
  • Within our set-up, we have a number of companies that are working already. But we are about to launch a garage soon ours will be the first corporate garage for the startups TechM chief strategy officer and head of the ‘growth factories’ initiative Jagdish Mitra.
  • Currently, as many as 15 businesses have emerged from among the over 1.05 lakh TechM employees and they work as part of the ‘growth factories’ set-up.

BoB case: CBI searches 10 locations in NCR

  • CBI sleuths carried out searches at 10 locations in the NCR region in connection with the case of alleged illegal remittances to the tune of Rs. 6,000 crore to Hong Kong and Dubai from a branch of Bank of Baroda.
  • It was found during the investigation that around 8,500 foreign remittance transactions were made from 59 bank accounts (approx) of various firms/ companies against import of goods and software from Hong Kong and Dubai.
  • The official said about Rs.40 lakh in cash, rubber stamps of around 44 different companies, 15 PAN cards and various documents were recovered during the searches along with pen drives and hard drives.
  • In addition, foreign currencies of China, the US, Europe, the UAE, Nigeria, Hong Kong and Sri Lanka were also found.

Chambal Fertilisers to raise Rs. 1,058 cr from SBI, Axis bank

  • Chambal Fertilisers will raise Rs. 1,057 crore loan from SBI and Axis Bank to establish new urea unit at its existing plant in Kota, Rajasthan.
  • Besides, the company will also avail a Rs. 300 crore bank guarantee from State Bank of India. It will be in favour of the Government of India as per the New Urea Investment Policy-2012 requirements.
  • The bank guarantee is issued in favour of the Government of India as per the New Urea Investment Policy-2012 requirements.
  • Last month, the company had said it has entered into an agreement with four banks including SBI, HDFC Bank, Axis Bank and Exim Bank for availing foreign currency loan of $ 550 million.

Google to sign up telcom operators to provide internet to remote parts of the country

  • Internet search engine giant Google, which last year reorganised itself as Alphabet, is currently in talks with a number of local telecom operators to kickstart its ambitious Google Loon project, months after chief executive Sundar Pichai managed to secure support for the project from the government.
  • Google India chief Rajan Anandan also did not rule out the possibility of the company setting up an office for its early-stage investment fund Google Ventures in India in the future, although he declined to share further details and a timeline.

New snake species discovered in Gujarat

  • Nine years after they first saw it in a photograph, two researchers from Mumbai and three others from Gujarat have confirmed the discovery of a new snake species. The find is one of the rarest of moments in the recent reptile history of India.
  • The new snake genus, Wallaceophis is named after Alfred Russel Wallace for his pioneering work on biogeography, and for co-discovering the theory of natural selection. The species has been named gujaratensis.

ICC World T20: Google doodle marks the start of mega event

  • The ICC World Twenty20 tournament is beginning March 8 and the cricket fever is already running high. Search engine giant Google has posted a doodle marking the start of the mega cricketing event.
  • The doodle on Google’s India homepage shows a cricket stadium packed with spectators while two teams are playing.

India clinch Asia Cup T20 trophy for record 6th time after beating B’desh

  • India clinched the Asia Cup T20 trophy for a record sixth time after beating Bangladesh by eight-wickets in the final at Mirpur. Chasing 121, India overhauled the target with seven balls to spare in the rain-curtailed summit clash at Sher-e-Bangla stadium.
  • Indian team made 122 for the loss of 2 wickets in 13.5 overs.  Shikhar Dhawan was declared the Man of the Match while Sabbir Rahman Man of the series. While Sri Lanka have won the continental title five times and Pakistan twice, India’s title triumph makes them the ahead of their continental neighbours.

Actor Kalabhavan Mani dead

  • Popular Malayalam actor Kalabhavan Mani died. He was 45. Sources said the actor suffered from liver and kidney ailments.
  • Amid conflicting reports about the cause of the death, it has been decided to conduct a post-mortem at the Government Medical College Hospital in Thrissur.
  • Mani had acted in over 200 films in Malayalam and other South Indian languages.
  • The actor’s sudden death came as a shock for the Malayalam fraternity and his hundreds of fans.

Nancy Reagan, former US first lady, dies at 94

  • Nancy Reagan became one of the most influential first ladies in U.S. history during her Republican husband’s presidency from 1981 to 1989.
  • Nancy Reagan, the former actress who was fiercely protective of husband Ronald Reagan through a Hollywood career, eight years in the White House, an assassination attempt and her husband’s Alzheimer’s disease, died at age 94.
  • Nancy Reagan became one of the most influential first ladies in U.S. history during her Republican husband’s presidency from 1981 to 1989.
Note:
  • President Barack Obama, a Democrat, and first lady Michelle Obama said Nancy Reagan redefined the role of first lady.

E-mail inventor Ray Tomlinson passes away

  • E-mail inventor, Ray Tomlinson, passed away in Washington. He was 74 years old. Tomlinson invented direct electronic messages between users on different machines on a certain network in 1971.
  • Before then, users could only write messages to others using the same computer.

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