Domestic e-commerce giant Snapdeal has acquired Gurgaon based mobility solutions company Letsgomo Labs. With this acquisition Letsgomo team will become part of Snapdeal. It will help to strengthen Snapdeal position in the m-commerce domain by further strengthen it mobile technology capabilities. It should be noted that 75% of the orders on Snapdeal already come via mobile-based transactions. This takeover comes in lines of Snapdeal’s acquisitions of Martmobi and Freecharge to further strengthening its mobile platform. Letsgomo Labs was founded by Manav Kamboj and Vikas Banga. Presently it has 76 members team that work across various mobile technologies including design strategy and consults in businesses right from building mobile strategies. It also helps in conceptualization of applications and mobile sites to implementation and hosting.
Foreign Direct Investment (FDI) inflows into the services sector grew by over 46 per cent to 3.25 billion dollars in 2014-15 fiscal. It was revealed by the Department of Industrial Policy and Promotion (DIPP). The FDI in this sector has increased after government had taken series of steps to improve ease of doing business and attracting domestic as well as foreign investments. The services sector includes banking, outsourcing, insurance, Research & Development (R&D), courier and technology testing.
Earlier in 2013-14, FDI in this sector was worth 2.22 billion dollar. However, the total foreign inflow in 2014-15 in the services sector was low as compared to 2012-13 when it was 4.83 billion dollars. Apart from services sector, overall foreign inflows in the country too have rose by 27 per cent to 30.93 billion dollars during 2014-15 fiscal. In 2013-14, the foreign inflow was 24.29 billion dollars. It should be noted that services contribute about 60% to India’s GDP. The other sectors where FDI inflows have recorded growth are telecommunications ($2.89 billion), automobiles ($2.57 billion) and computer software and hardware ($2.20 billion). Increase in foreign investments will help to improve country’s balance of payments (BoP) situation and strengthen the rupee.
As per recently published Stockholm International Peace Research Institute (SIPRI) Yearbook 2015, the number of nuclear weapons in the world decreased in 2015. The overall stockpile of nuclear weapons has declined to 15,850 in early 2015 from 16,350 in early 2014.
Main countries possessing nuclear warheads are modernizing their arsenal. Reason behind the decrease in the number of nuclear warheads is because of reduction of them from two main nuclear powers United States and Russia. Currently Russia has 7,500 number of nuclear warheads compared to 8,000 in 2014. While, US had 7,260 nuclear warheads compared to 7,300 in 2014. Till date nine countries possesses approximately around 15, 850 nuclear weapons. They are United States, Russia, United Kingdom, France, China, India, Pakistan, Israel and North Korea. Of these all nuclear weapons around 1800 weapons are kept in a state of high operational alert.
State owned telecommunications giant Bharat Sanchar Nigam Limited (BSNL) has launched free pan India roaming scheme. This scheme will allow company’s mobile customers across the country to receive incoming calls at no additional cost i.e. free of cost. It will benefit around 7.72 crore of its existing subscriber base as well as new subscribers. BSNL has announced this scheme with the consent of Union Minister of Communications & IT Ravi Shankar Prasad who had earlier announced this scheme in order to achieve dream of ‘One Nation One Number’. BSNL is also planning to install 5,000 Base Transceiver Station (BTS) towers across the country in order to provide better services to its customers. Out of the 5,000 towers, 1,250 will be established in Bihar to improve the communications network in the state, especially in the interior areas.
India’s tennis player Rohan Bopanna along with his Romanian partner Florin Mergea has won the ATP’s Stuttgart Open final doubles trophy in Germany. The Indo-Romanian pair defeated Austrian-Brazilian pair of Alexander Peya and Bruno Soares by score of 5-7, 6-2 and 10-7 to lift the title. It is Bopanna’s fourth title of 2015. It should be noted that it was Bopanna- Mergea pair’s second ATP World Tour team title in this season.
Earlier they had won the Mutua Madrid Open crown in May 2015. They also had finished runners up at the Grand Prix Hassan II in Casablanca. Rafael Nadal clinches Stuttgart grass-clay Men’s single title Ace Spanish tennis player Rafael Nadal has Stuttgart grass-clay Men’s single title. In the final match he defeated Serbia’s Viktor Troick in straight sets of 7-6, 6-3. It was Rafael Nadal’s third Stuttgart Men’s single title. With this victory he also became first tennis player to win titles at the event on both clay and grass surface.
Metal and mining giant Vedanta Ltd and its subsidiary oil explorer Cairn India have announced to merge. The merger will create India’s largest diversified natural resources company. It will also help Cairn spread its risk from volatile oil business to other metals and commodities. Decision in this regard was taken by Independent directors of both the companies owned by billionaire Anil Agarwal. The merger will be in an all share swap deal which will give the Vedanta Ltd access to Cairn India’s 2.7 billion dollars (Rs 16,867 crore) cash pile. Vedanta will use this cash lying with Cairn to pay off part of its 77,752 crore rupees debt For the merger each minority shareholders of Cairn India will receive one equity share of Vedanta. They will also receive one redeemable preference share of Rs 10 face value with 7.5% annual dividend. Previously Vedanta was known as Sesa Sterlite Ltd. In 2013 it had consolidated its iron ore mining business by merging Sesa Goa Ltd with Sterlite Industries (India) Ltd.
Supreme Court has cancelled the All India Pre-Medical Test (AIMPT) 2015 and directed the Central Board of Secondary Education (CBSE) to re-conduct the test within one month. This verdict was given by a SC bench of Justice RK Agarwal and Justice Amitava Roy on a complaint filed by candidates. In the complaint students had alleged large-scale irregularities in AIMPT 2015, including leakage of answer keys.
Earlier on 8 June 2015, SC bench had extended the stay on the declaration of results which were to be declared on June 5. The examination was taken by over six lakh students. Large-scale irregularities had come to the light earlier including leakage of answer keys. The investigators also had informed the court that the answer keys of 123 questions were transmitted through 75 mobile phones in states like Jharkhand, Rajasthan, Bihar and Haryana.
World Bank and World Health Organisation (WHO) in their latest report have reported that around 400-million people worldwide lack access to essential health services. It was revealed in a report by the World Bank and WHO on tracking universal health care (UHC) coverage. It is the first report to measure health service coverage and financial protection and to assess countries’ progress towards UHC.
It defines UHC in terms of measurable essential services and to be able to assess how governments and communities are performing. Apart from lack access to essential health services, the cost of health care is forcing many into poverty. More than 80 percent of world population has access to key health services. Universal health care should reach everyone regardless of socio-economic level. This UHC should be provided in family planning, TB treatment, antenatal care, HIV anti-retroviral therapy along with improved water sources and improved sanitary facilities.
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