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March 8 and 9 Current Affairs


International



China plans Tibet-Xinjiang rail links

China has unveiled plans to link up Tibet and Xinjiang, its two far-western frontier regions, with a new railway network as part of a wider initiative to boost infrastructure projects in border areas in the next Five-Year Plan (2011-15).





National




President launches ‘Sanchar Shakti'

President Pratibha Patil launched the ‘Sanchar Shakti' project of the Department of Telecommunications, a suite of mobile value-added services (VAS) to provide a variety of useful information to women and women's self-help groups about government schemes and health and social issues, besides inputs related to and training in livelihood, over the mobile phone.


Panel to examine regulation of NBFCs

The Reserve Bank of India (RBI) constituted a working group under the Chairmanship of Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL), to examine a range of emerging issues pertaining to regulation of the NBFCs (non-banking financial companies) sector.


Question hour begins under new schedule in Rajya Sabha

Question hour in the Rajya Sabha started with a new timing — at 2 p.m., instead of 11 a.m. — following a change in the order of business due to frequent disruptions.

The question hour will be from 2 p.m. to 3 p.m. everyday except Fridays when it will be from 2.30 p.m. to 3.30 p.m. The change has been made under Rule 38 of the Rules of Procedure and Conduct of Business after consultation. Under this rule, the Chairman has the power to change the order of the business.



Persons




New Executive Director of Power Grid Southern Region

V. Sekhar has been appointed as the new Executive Director of Power Grid Corporation of India Limited, Southern Region Transmission system-1



Business



Spectranet partners Aircel

Spectranet has partnered Aircel to offer high-speed Internet access to the latter's customers on Wi-Fi. The company also announced plans to invest Rs.500 crore over the next five years to expand its services across 50,000 hot-spots and reach over 50-lakh households across the country.


Centre to infuse Rs.1,740 crore in Oriental Bank

The Central Government will infuse Rs.1,740 crore in Oriental Bank of Commerce (OBC) as recapitalisation package to shore up the bank's equity capital.

The bank at its board meeting held on March 5 has approved raising capital by offering or issuing up to 4.12 crore shares of Rs.10 each for cash at a issue price of Rs.422.11 a share aggregating up to Rs.1,740 crore to the government


Centre notifies USE as recognised stock exchange

Newest stock exchange for currency derivatives United Stock Exchange (USE) declared the Central Government had notified it as a recognised stock exchange where trading would not be deemed as speculative transactions.


CLP India to develop two new wind farms

CLP India, belonging to CLP Group of Hong Kong, a foreign power player in India, announced that it will develop two new wind farms — one in Rajasthan and the other in Andhra Pradesh. The 102.4 MW Sipla Wind Farm will be located at Jaisalmer District (Rajasthan) and the 50.4 MW Narmada Wind Farm at Nallakonda (Andhra Pradesh). With these two projects, CLP's wind portfolio will grow to 638.8 MW


India-China Consumption Fund

Mirae Asset Global Investments (India) Pvt. Ltd., has launched Mirae Asset India-China Consumption Fund, an open-ended equity-oriented scheme. The scheme will focus on sectors/companies benefiting from consumption-led demand that is driving the world's fastest growing economies, India and China. The new fund will open on March 9 and close on March 23.


India, Brazil working to achieve $10 b bilateral trade

India and Brazil decided to forge stronger trade and economic ties and decided to work towards achieving a bilateral trade target of $10 billion in the next few years against $7.73 billion in 2010.
This was agreed at a meeting between Union Commerce and Industry Minister Anand Sharma and visiting External Relations Minister of Brazil Antonio Patriota



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