Current Affairs - 30th May 2014

Bharti Airtel ties up with Idea Cellular for 3G services in Punjab

Bharti Airtel has announced that it will be offering 3G services in Punjab through an intra-circle roaming agreement with Idea Cellular. Currently Idea Cellular is the sole provider of 3G services in Punjab. Idea launched its high speed services in the circle through its own spectrum.

PM resigns from Vadodara, retains Varanasi

Prime Minister Narendra Modi resigned from Vadodara and retained the Varanasi Lok Sabha seat. He won in both constituencies with massive margins. As per rules, members elected from two LS seats must vacate one of these within 14 days of result declaration.

Modi lists 10 priorities and lays down 100 day agenda

PM Narendra Modi has asked ministers to lay down a 100 day plan. He has also listed 10 priorities as per the governance plan. Reforms to attract investment and boost economic growth were part of the priorities.

RIL acquires 78% stake in Network18

Reliance Industries Limited has acquired the controlling stake in Network18 and the company has also picked up 9% stake in TV18 for a sum of 4000 crore rupees. RIL is investing the sum through Independent Media Trust of which it is the sole beneficiary to acquire the controlling stake.

Sensex posts biggest drop in 4 months

Weak global cues were the reason behind the drop in the Sensex by over 1.25 percent. The Nifty closed at 7236 down 94 points and the Sensex shed 322 points to close at 24234. Infosys contributed to a third of the index loss.

AirAsia India set to fly high from June 12

AirAsia India has announced that it will operate commercial flights from June 12. Ticket sales are commencing from today. The carrier had got conditional approval from the aviation regulator and it is now booking requests from May 30.

BSE launches infrastructure index

Investors can now get a idea of the Indian infrastructure play in the listed space. BSE has launched new diversified index called S&P BSE India infrastructure index which measures the performance of 30 companies that are listed from 5 infrastructure sectors namely energy, non banking financial institutions, telecom, transportation and utilities.

Trade bloc forged by ex-Soviet states

Russia, Belarus and Kazakhstan have formed the Eurasian Economic Union which is a trade bloc comprising 170 million persons of the 3 countries. The combined GDP of this trade bloc is $2.7 trillion.