1. New norms to handle civilian protests in J&K A new set of guidelines have been framed for the security forces deployed in Jammu and Kashmir to handle civilian protests by using non-lethal weapons. The new standard operating procedures (SOPs) have been formulated for use of non-lethal weapons to handle civilian protests in the state. On the proposed rehabilitation policy being formulated for Kashmiri youths who crossed over to PoK between 1989 and 2009 to embrace militancy and now want to return to lead a peaceful life, 700 applications had been received by the state government and they were being processed.
2. Director K Balachander selected for Dadasaheb Phalke award All of Tamil cinema's leading stars from M G Ramachandran, Gemini Ganesan and Sivaji Ganesan to Kamal Hassan and Rajinikanth have worked with filmmaker K Balachander. The 81- year old director, known for his fearless and fresh treatment of subjects as diverse as divorce and political dramas, was named recipient of the Dadasaheb Phalke Award for the year 2010. The award, consisting of a Swarn Kamal, a cash prize of Rs 10 lakh and a shawl, is given for outstanding contribution to the growth and development of Indian cinema by the information and broadcasting ministry.
3. Storm death toll at 291 and climbing The death toll from a series of devastating tornadoes that struck the United States this week has climbed to at least 291 and is likely to rise further. The storms were said to be the worst in the U.S. since 1974, when tornadoes killed 315 people. This week the death toll in Tuscaloosa alone was 36, while 33 people were reported killed in Tennessee, 33 in Mississippi, 15 in Georgia, five in Virginia and one in Kentucky.
4. Both Sudans assure India on energy front The governments of both Sudans assured India that its investments in the oil sector would remain safe despite the formal bifurcation of the country on July 9 into Sudan and South Sudan. India is Sudan's third largest partner in the oil sector and its companies account for a quarter of the country's oil off-shore industry. But 70 per cent of oil is produced in the south, which voted overwhelmingly to separate and 100 per cent of the facilities such as refineries and pipelines are in the north. The Indian national oil company, ONGC Videsh produces 1.6 lakh barrels of oil every day but 60 per cent is produced in the southern parts. India is building a thermal plant 200 km south of Khartoum which will considerably add to the country's current power generation capacity. North Sudan is hoping for Indian interest in setting up a refinery as well as well as investing in the agriculture sector where the UAE, Saudi Arabian and Turkish investors are already active.
5. Centre to set up two semiconductor wafer units The Central Government would soon set up two plants to manufacture semiconductor wafers with a total investment of Rs.50,000 crore to boost India's electronic hardware production. The facilities are intended to breach the mismatch between demand and supply for electronic hardware in the country and are intended to act as a catalyst for fulfilling the XII Plan (2012-17) target of 11-12 per cent growth in the manufacturing sector. It was intended to pave the way for India to become the world's third largest economy by 2030-35.
6. Timeline set for Pakistan granting MFN status to India In a spirit of accommodation anchored in pragmatism, the Commerce Secretaries of India and Pakistan have agreed to take on board each other's concerns regarding the trade regimes in either country and explore new avenues for bilateral trade while side-stepping the ‘so-called' ticklish issues that dominate mainstream discourse. The Most Favoured Nation (MFN) status to India and moving to a negative list approach in tariff lines, and New Delhi amenable to addressing Islamabad's concerns regarding Non-Tariff Barriers that restrict the flow of Pakistani goods into Page 1 of 2 30 th April 2011
India. Another group of experts will examine a proposal for trade in petroleum products including building cross-border pipelines and use of the road/rail route including the Munabao-Khokrapar route for this purpose. A third new proposal pertains to trade in Bt cotton seeds that would help Pakistani farmers and the textile industry raise cotton yields and ensure better cotton security.
7. RBI ups FII cap on infra bonds by $20bn The Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) to invest in infrastructure bonds with a maximum limit of $25 billion, including in those issued by unlisted companies. Earlier, on March 31, Sebi, too, had allowed FIIs to invest in these bonds and had given them a limited trading window within which these entities were allowed to trade these bonds among themselves. The move by the central bank is expected to pave the way for foreign funds to be invested in the country's infrastructure sector that is estimated to need over $500 billion over the next few years. In this year's budget, the finance minister had proposed to raise FII investment limit in infra bonds issued by corporates.
8. Anup Bagchi to head ICICI Securities ICICI Securities MD MD and CEO Madhabi Puri-Buch will go on a sabbatical and Anup Bagchi will lead the company from May 1. Bagchi, who is presently the executive director at ICICI Securities, would head the company's initiatives in corporate finance.
As ED, Bagchi was responsible for the development and business growth of the I-Sec's retail broking business, distribution of retail financial products and wealth management services. Prior to joining ICICI Securities, he has worked with the investment banking team of Macquarie Capital Advisers in India and also with NM Rothschild & Sons India.
9. Biodiversity workshop at Viksat Representatives of (NGOs) and institutes from across the state learnt various aspects of biodiversity conservation in a workshop conducted by Vikram Sarabhai Centre for Development Interaction (Viksat). The two-day workshop was organized under the sponsorship of ministry of environment and forests.
Page 2 of 2 30 th April 2011