Union Ministry of Finance has imposed an anti-dumping duty on imports of graphite electrodes used in steel plants for five years. The imposed duty ranges between $278.19 and $922.03 per tonne.
The decision was taken following the recommendations of the Directorate General of Anti-Dumping Duty (DGAD).
Earlier, DGAD had initiated and conducted investigation into dumping, on complaints of domestic manufacturers- HEG and Graphite India With this move, government aims to protect the domestic industry from below-cost shipments of graphite electrodes.
It should be noted that the graphite electrodes are used in melting of steel.
Punit Renjen was appointed as the Chief executive officer (CEO) of accounting giant Deloitte’s global operations.
He will succeed Barry Salzberg and assume his new role of Deloitte Global CEO from 1 June 2015. Currently he is serving as US business Chairman and CEO of the Deloitte group.
Deloitte is U.S. based accounting giant which is present across 150 countries including India and employs over two lakh people. It is one of the four largest audit firms in the world and competes with PwC, KPMG and EY.
With this appointment, Punit Renjen is the first Indian-origin person to head a Big-Four global audit firms. He also has joined a growing list of persons of Indian origin who have made to the top posts at multi-billion dollar global corporations. This list includes Indira Nooyi of PepsiCo, Satya Nadela of Microsoft and Anshu Jain of Deutsche Bank.
Former IAS officer Jawed Usmani took oath as Chief Information Commissioner (CIC) of Uttar Pradesh (UP).
He was administered oath to office by Governor of UP Ram Naik at a function at Raj Bhawan in Lucknow. He was sworn-in to office after he had taken voluntary retirement as Chairman of the Uttar Pradesh Board of Revenue.
Jawed Usmani was appointed as UP CIC in November 2014. But during this appointment, he was the chairman of Uttar Pradesh Board of Revenue.
He was able to take over as state CIC as Right to Information Act, 2005 has provision mentioning that any person while he/she is in government service cannot be can be appointed to this statutory post.
India’s software services giant Infosys has announced to acquire to acquire US-based automation technology firm Panaya.
In this regard, Infosys has signed a definitive agreement to fully acquire Panaya for an enterprise value of $200 million (1200 crore rupees) in cash.
Acquisition of Panaya is part of Infosys new strategy to enhance its competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence. It also the first major acquisition since Vishal Sikka took over as the CEO and MD of the company.
Panaya was founded in 2005 in Israel by its current CEO Doron Gerstel. It has around 50 employees and its clients include Coca-Cola, Mercedes-Benz, Bosch, Whirlpool, GSK and Siemen .
Panaya is the Infosy’s second largest acquisition after it had acquired Zurich-based consulting company in 2012 for around $350 million.
Veteran journalist, cartoonist and political activist Rajinder Puri has passed away on 15 February 2015 in New Delhi. He was 80.
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