Microsoft CEO Satya Nadella Likely to Visit T-Hub on December 28
1.Software giant Microsoft’s Chief Executive Officer Satya Nadella may visit T-Hub in Hyderabad is coming on December 28. He is visiting T Hub. We are planning to inaugurate some of our initiatives during that time. We are also inviting some other dignitaries. He (Nadella) promised to spend a couple of hours at the T-Hub. He is on private visit,” Mr Rao said.
2.If Mr Nadella visits, this will be his second visit to Hyderabad.
India in Talks With Mauritius On Tax Treaty Issues: Government
1.India is discussing a whole host of issues with Mauritius including ways and means of ensuring that a tax treaty with the island nation is not misused, Akhilesh Ranjan, a joint secretary in the tax department told reporters on Thursday.
2.Earlier, in October, Mauritius finance minister had told Reuters they were in talks to review a tax treaty that had made the island the biggest single source of foreign direct investment in India.
3.But the treaty’s terms have been a growing irritant to India, which says a chunk of the funds are not real foreign investment but Indians routing cash through the island to avoid Indian taxes.
Bond Yields Slump on RBI’s Plans to Infuse Liquidity
1.The Reserve Bank of India’s unexpected $1.50 billion debt-purchase announcement sent bonds rallying on Thursday, with traders saying it will relieve tight cash conditions in the banking system and signals an effort to push down yields.
2.The RBI late on Wednesday said it would buy bonds worth up to Rs 10,000 crore ($1.50 billion) via open market operations (OMO).
3.The benchmark 10-year bond yield fell as much as 6 basis points to 7.68 percent from the previous close. At 1:17 p.m., the bond yield was down 3 bps to 7.71 percent. The yield had risen to a near 3-month high of 7.79 percent on Monday.
4.The announcement came as the liquidity shortage in the banking system was Rs 1 lakh crore at the end of November, sharply up from about Rs 68,000 crore a month earlier.
International Day for the Abolition of Slavery Observed globally
1.The International Day for the Abolition of Slavery was observed globally on 2 December 2015. The day is observed to focus on the elimination of human trafficking, child labour and other forms of modern-day slavery.
2.According to the International Labour Organization (ILO), there are currently an estimated 21 million forced labour victims worldwide, creating 150 billion US dollars in illegal profits in the private economy each year.
3.To tackle with the situation, ILO has adopted a new legally binding Protocol designed to strengthen global efforts to eliminate forced labour and which will enter into force in November 2016.
ICICI Venture appoints Prashant Purker as the MD & CEO
1.Finance specialist Prashant Purker has been elevated as MD & CEO of ICICI Venture, India’s largest home-grown private equity firm.
2.Purker, effective Tuesday, has taken over from Vishakha Mulye, who had been in the role for the past six years. Last month, Mulye was appointed as executive director of the private equity firm’s parent ICICI Bank. Prior to ICICI Venture, Purker was with Nomura and Lehman Brothers.