1. India slips to 62nd spot in effective stock market regulation ranking
i. Indian capital markets may be riding high on positive investor sentiments, but the latest report by World Economic Forum (WEF) shows that the country has plunged 35 places to 62nd rank in terms of effective regulation of the stock exchanges.
ii. The country, last year, stood at the 27th spot for effective regulation and supervision of securities exchanges.
iii. South Africa is on the top followed by Finland, Hong Kong SAR, Luxembourg and Singapore in this category, says the report.
iv. Besides, neighbouring countries Pakistan and China are also placed at a better position than India on the parameters at 51 and 58 positions, respectively.
Note: i. The findings are part of WEF’s Global Competitiveness report 2014-15, where India has been ranked among 144 countries across the globe.
ii. The performance review was based on 12 pillars, including development of the financial markets. A value of 1 for regulation of exchanges implies ‘not at all effective’ while 7 represents ‘extremely effective’.
2. India, Germany to cooperate in skill dev, river cleaning
i. India and Germany on Monday agreed to prepare a roadmap for cooperation in skill development, solid waste management and cleaning of rivers as visiting Foreign Minister Frank Walter Steinmeier met PM Narendra Modi who described the two nations as "made for each other".
ii. During the meeting in New Delhi, Steinmeier conveyed Germanys strong desire to work with the new government in India to further expand and deepen bilateral relations.
iii. The move to take Germany's help in skill development, waste management and river cleaning assumes significance as Modi has enlisted cleanliness as his priori-ty agenda.
iv. Suggesting use of Germany's strength and experience in the area of skill development, he said both sides should develop a concrete time-bound plan for training of Indian youth to meet Indian needs and the global requirement of skilled human resources.
3. India, Bahrain express commitment to enhance bilateral trade, investment
i. India and Bahrain trade and commerce has gathered momentum over the years and is poised to grow more with emphasis on partnerships in key sectors.
ii. External Affairs Minister Sushma Swaraj told in Manama that Bahrain leaders are also looking forward to expand the trade and commerce ties.
iii. Bilateral trade between the two countries has crossed $1,3 billion mark in 2013-14 and is projected to cross $1.5 billion.
iv. India’s export to Bahrain has gone up by more than 80 percent over the past five years from $252 million to $603 million in 2012-13.
v. India’s major non-oil exports include chemicals, compounds of precious metals, boilers, electrical and electronic machinery and vehicles with spare parts.
4. SBI launches multi-currency international debit card
i. State Bank of India (SBI) in tie-up with MasterCard on Monday launched its first multi-currency international debit card to allow consumers to use a single card to pay in multiple currencies.
ii. “To begin with, the prepaid debit card will enable customers to load four currencies – US dollar, euro, Great Britain pound and Singapore dollar.
iii. The multi-currency foreign travel card gives an option to load currencies of choice at SBI’s branch network.
iv. At present, the card can be issued at an annual fee of Rs. 100 without any interchange fee to customers.
v. Customers will have to pay the traditional ATM withdrawal charges of $1.75 in the US, €1.5 in Europe, £1.25 in Britain and S$2 in Singapore.
v. The card is aimed at corporates and professionals, tourists and students travelling abroad and will be available at 100 SBI branches in four major cities.
5. China awarded China Book Award to JNU professor Priyadarsi Mukherji
i. China 2014 awarded China Book Award to JNU professor Priyadarsi Mukherji.
ii. Priyadarsi Mukherji was honoured in recognition of his long-term contribution to the translation and publication of Chinese works.
iii. China Book Award is a special award to commend those who have made great and long lasting contributions to introducing Chinese books overseas. The award was presented at a ceremony at the Great Hall of the People in Beijing.
About Priyadarsi Mukherji
i. Prof. Mukherji is currently working under the Chinese and Sinological Studies department of JNU.
ii. He has translated a number of literary works from Chinese into Bengali, Hindi and English, and monographed books on Chinese culture and language over the last 25 years.
6. WTI and TCL signed MoU to setup India’s first Coral Garden in Gujarat
i. Wildlife Trust of India (WTI) and Tata Chemicals Limited (TCL) in first week of September 2014 signed a Memorandum of Understanding (MoU) to set up India’s first of its kind Coral Garden in Gujarat. This Coral Garden will be set up at Mithapur coastal region of Devbhoomi-Swarka district of Gujarat.
ii. The funds for the project will be borne by Gujarat Forest Department, as WTI also signed a broad MoU with the State also. As per the plan, the coral garden will be helpful in conserving several coral species at one place and will also boost tourism in the State.
7. Serena Williams won 3rd consecutive US Open Title
i. World number one Serena Williams on 7 September 2014 won her third consecutive US Open trophy.
ii., She defeated Caroline Wozniazki of Denmark in straight sets, 6-3, 6-3.
iii. With this, Williams joined the Tennis greats Chris Evert and Martina Navratilova on 18 Grand Slam titles. This win also helped Williams to match with Evert’s total of six championships at the US Open.
iv. Williams also became the first woman to win three in a row since Evert's four-title run from 1975-78
v. Apart from this, 32-year-old Serena Williams also became the second oldest Grand Slam winner after Navratilova, who had won Wimbledon at the age of 33 in 1990. To be the second oldest old Grand slam winner, Williams surpassed overtook Briton Virginia Wade
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