02.05.12 Daily Newspaper Notes

Navy commissions new Lakshadweep base
·         The Indian Navy has commissioned its latest base, INS Dweeprakshak, in the strategically important Lakshadweep islands to maintain effective coastal surveillance and defence capability.
India will host investors’ meet on Afghanistan
·         India will get more intimately involved in Afghanistan’s stabilization process by hosting a conference of regional investors.
·         India has won the Hajigak iron ore mine, which officials say is the “jewel” of Afghanistan’s mining sector.
·         China has won the lucrative Aenak copper mine, but faces the same problem as India and Pakistan: some regions are plagued by conflict and the others are placid.
U.N. chief hails Suu Kyi’s flexibility
·         U.N. Secretary-General Ban Ki-moon, winding up a trip to encourage reforms in Myanmar, praised opposition leader Aung San Suu Kyi on Tuesday for supporting democratization by making a political compromise.
·       Mr. Ban said after meeting M`s. Suu Kyi that he admired her for agreeing to drop a demand that the wording of the oath of office be changed before her party members take their seats in Parliament, which is expected on Wednesday.
No deadline for uranium sale to India, says Australia
·         No time frame or deadline could be set for Australia to start uranium exports to India.
·         But Australia’s decision to export to India is firmly in place, despite opposition in some quarters, and both nations are discussing the issue to seal a deal, Australia’s Resources and Energy Minister Martin Ferguson said.
·         The export would come about only after the formalities in respect of issues pertaining to the International Atomic Energy Agency (IAEA) and the Nuclear Supplies Group (NSG) were fulfilled by India, he said.
·         On December 4 last year, the Labor Party of Prime Minister Julia Gillard decided to end the ban on uranium sales to India.
·         Australia has the world’s largest known reserves of uranium, amounting to 23 percent of the world’s total reserves.
Global corridor to have special trade hubs
·         The Kundli-Maneswar-Palwal Global Corridor (KMP) in Haryana will have Orbital Rail Corridor and 12 specialized hubs including world trade, fashion entertainment, leisure and dry port.
 Juvenile Justice Act to be amended
Non-registration of children’s homes to become punishable
·         To improve the quality of care at children’s homes and prevent abuse of inmates, the Juvenile Justice Act will soon be amended, making non-registration of these facilities a punishable offence.
·         To achieve the objective, an amendment will soon be made in the Juvenile Justice (Care and Protection of Children) Act, 2000.
·         Officials from National Commission for Protection of Child Rights (NCPCR), National Commission for Women (NCW) and voluntary organizations were also present at the meeting.
Exports fall for the first time since 2009
March exports down 5.7% to $28.7 billion
·         India’s exports in March fell for the first time since the 2009 global financial crisis as demand weakened in the United States and Europe, further clouding the outlook for the country’s balance of payments.
·       Exports fell 5.7 percent to $28.7 billion from the same period a year earlier.

EGoM initiates spectrum sale process
·         A ministerial panel, headed by Finance Minister Pranab Mukherjee, on Tuesday, approved starting of the spectrum auction process.
·         The Empowered Group of Ministers (EGoM) gave the approval to the process for selecting an auctioneer, who will conduct the fresh round of bidding for spectrum as mandated by the Supreme Court.
Regulations for hedge funds soon, says SEBI chief
·         New regulations, governing pooled resources of investors, are likely to be issued within the ‘next two weeks’, Securities and Exchange Board of India (SEBI) Chairman U.K. Sinha said.
Vijaya Bank net up 11%
·         Vijaya Bank recorded a net profit of Rs. 580.99 crore in 2011-12, an increase of 11 percent over the previous year.
·         Aggregate business was Rs. 1.42 lakh crore.
·         The bank’s net interest margin was 2.37 percent during the year.
Gulf Oil shortlists locations for second plant
Green appliances can save crores every year
·         Switching over to energy-efficient appliances can help reduce the consumption of power by up to 20,000 MW per year and help save Rs. 12lakh crore in capital investment on new power plants and transmission and distribution infrastructure.
·         This was stated by experts from the energy sector at a conference organized by the Associated Chambers of Commerce & Industry of India (ASSOCHAM).
·         Bureau of Energy Efficiency director-general Ajay Mathur said about 1.15 crore labelled air-conditioners have been sold across the country during the past five years.



Source - The Hindu,The Times of India,The Indian Express

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