Government bonds launches interest rate options on 10-year government bonds
Stock exchange major NSE has launched interest rate options on 10-year government bonds to provide institutional investors ability to manage risk through a non-linear product.
Interest rate options will provide institutional investors the ability to manage risk through a non-linear product, which is otherwise not available to them.
Market participants can use options to trade and hedge interest rate risk on a transparent platform.
Interest rate options are based on the underlying government 10-year bonds — the 7.26 per cent 2029 bond and the 6.45 per cent 2029 bond.
The unit of trading is set at Rs 2 lakh face value of government securities, corresponding to 2,000 units.
Switzerland to be the partner country for 17th edition of BioAsia 2020 hosted by Hyderabad, Telangana
Switzerland will be the country partner at the 17th edition of BioAsia2020 scheduled to be held from February 17-19, 2020 with the theme “Today For Tomorrow” in Hyderabad, Telangana.
This information was provided by Jayesh Ranjan, Telangana Principal Secretary of Industries and Commerce and Information Technology(IT) at a press conference in Hyderabad on December 11, 2019.
In the year 2018 , India was Switzerland’s 8th largest trading partner with a total bilateral trade of $19.7 billion.
Switzerland is making innovations in the world of medical healthcare and that many pharmaceutical companies have emerged as the center of Switzerland.while the city of Hyderabad has become a hub in the field of health tech and will be introduced to the Switzerland Health Tech Ecosystem through the Bio Asia Summit.
The health ministry announced that over 65 lakh patients were treated under the Centre’s flagship Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) ever since its launch till December 5, 2019.
The treatment costs were worth Rs. 9,549 crore.
Out of the total 65,45,733 patients, treatment amounting to Rs 6,133 crore was provided to 35,34,695 patients through private hospitals.
Abu Dhabi selected as world’s leading sports tourism destination
Abu Dhabi has been selected as the world’s leading Sports tourism Destination at the 26th edition of the World Travel Awards (WTA) being held in Muscat.
This is the seventh time in a row that Abu Dhabi has been selected for this coveted award.
The award is the latest in several prestigious accolades gained by Abu Dhabi this year, including being selected as the West Asia’s Leading Business Tourism Destination at the West Asia edition of WTA and Best City Break at the UK’s Selling Travel Agents’ Choice Awards.
Business & Economy
ADB slashes India’s GDP growth forecast for FY20 to 5.1% from 6.5%
Asian Development Bank (ADB),an international development finance institution has lowered India’s GDP(Gross Domestic Product) growth forecast to 5.1% for the current financial year-FY 20(or 2019) due to consumption has been affected due to slowing employment growth and delayed harvesting.
In September 2019, ADB had projected India’s economic growth rate to be 6.5 percent for 2019-20 and 7.2 % for FY 2020-21.
As per ADB, Due to favorable policies, the economic growth rate is expected to strengthen to 6.5 percent in the next financial year (FY 2020-21).
The RBI (Reserve Bank of India) also reduced GDP growth forecast for the current financial year –FY 20 (or 2019) to 5 % from the earlier estimate of 6.1 % due to weak domestic and external demand.
As per the Government figures, GDP growth in the July-September quarter was just 4.5%. This is the lowest in the last 6 years.
Appointment & Resignation
Suniel Shetty becomes Brand Ambassador of NADA
Actor Suniel Shetty has been appointed the brand ambassador of the National Anti Doping Agency (NADA).
In the last one year more than 150 players of the country have failed in the dope test.
The National Anti-Doping Agency monitors the doping control program in the country. It is the national organization in India for monitoring the doping control program in sports in India.
Dhanlaxmi Bank’s Board appoints V Viswanathan as additional director
V Viswanathan has been appointed as Additional Director on the Board of Dhanlaxmi Bank.
Viswanathan, who retired as Chief General Manager of State Bank of Hyderabad in 2017.
The Bank had appointed G Venkatanarayanan as Additional Director with effect from October 31, 2019.
T Latha had resigned as MD & CEO and Director of Dhanlaxmi Bank due to personal reasons.
PUMA appoints men’s football team captain, Padma Shri Sunil chhetri as its brand ambassador for 3 years
PUMA, a German multinational company that designs and manufactures athletic and casual footwear has appointed Indian men’s football team captain Sunil Chhetri as its brand ambassador for 3 years.
Chhetri now joins the list of France’s Antoine Griezmann, Belgium’s Romelu Lukaku, Uruguay’s Luis Suarez and Argentina’s Sergio Aguero with whom Puma has tied up.
Bengaluru FC captain Chhetri is the highest international goalscorer in current football after Portugal’s Cristiano Ronaldo.
Chhetri, who scored the most goals for India, has been the best AIFF (All India Football Federation), footballer, six times. He has been honored with the Arjuna Award in 2011 and the Padma Shri in 2019.
Sportspersons like Virat Kohli, MC Mary Kom and Dutee Chand, and footballers like Gurpreet Singh Sandhu, Dheeraj Singh Moirangthe and Rahul Bheke were the past its brand ambassador for PUMA.
Bollywood actor Salman Khan appointed as the brand ambassador of Pepsi
Food and beverage company PepsiCo has appointed Bollywood actor Salman Khan (born as Abdul Rashid Salim Salman Khan) as brand ambassador for its flagship Pepsi brand of carbonated beverage in India.
The commercial will be launched in 2020 and will take up the “SWAG” themed campaign which was launched in the summer of 2019.
Previously Salman Khan was the brand ambassador of Pepsico’s rival company Coca-Cola’s popular ThumsUp and also as the brand ambassador of Parle Agro-backed soft drink Appy Fizz.
He also previously endorsed PepsiCo’s Mountain Dew drink.
Award & Honors
India tops the 13th South Asian Games tally
India won 312 medals in the 13th Asian Games played in Nepal, including 173 gold medals, 93 silver medals and 44 bronze medals.
India tops the medal tally with the most number of golds. It is a biennial sports competition organized in South Asia.
On the last day of these games, India won a total of 18 medals with 15 gold including two silver and one bronze medal.
Odisha wins ‘World Habitat Award’ for OLHM- Jaga Mission
Odisha won the ‘World Habitat Award’ for Jaga Mission also called Odisha Liveable Habitat Mission (OLHM), a slum land project executed for the benefit of millions of urban-poor people living in slums.
The award was given by the World Habitat, a UK (United Kingdom) based organization which gives the award annually to recognize innovative housing projects around the world.
The Jaga is a society under Housing and Urban Development Department (HUDD), Government of Odisha.
The OLHM-JAGA aims at transforming the slums into livable habitats and under which 52,682 urban poor families living in the slums have been granted land rights certificate.
The mission works under the Odisha Land Rights to Slum Dwellers Act passed in September 2017.
Science, Space & Technology
“Duchifat-3” satellite launched from Sriharikota
Duchifat-3 satellite has been jointly developed by students from Israel’s Herzliya Science Center and Shar Hanegev High School.
It is a remote sensing satellite. It will help all school students in the country to experiment through earth observation.
It is the third such satellite made by Israel’s school students. Its weight is 2.3 kilograms.
DHC-2 de Havilland Beaver: World’s First fully electric commercial Seaplane takes test flight in Canada
The World’s first fully electric commercial aircraft namely DHC-2 de Havilland Beaver takes test flight in Vancouver, Canada. Manufactured by Harbour Air and Magnix, the six-passenger e-plane’s first flight involved 750-horsepower (560 kW) magni500 propulsion system, and was piloted by Greg McDougall, founder and Chief Executive of Harbour Air.
Civil aviation is one of the fastest-growing sources of carbon emissions and the International Civil Aviation Organization (ICAO) has encouraged greater use of efficient Biofuel engines and lighter aircraft materials.
Prahlad Patel, Minister of Culture and Tourism launches Indian Culture Web Portal
Prahlad Singh Patel, Union Minister of State (MOS) for Culture and Tourism IC (Independent Charge) launched the Indian Culture Web Portal in New Delhi.
The web portal was proposed by the Ministry of Culture and was developed by the Indian Institute of Technology (IIT), Bombay and the data was organized by Indira Gandhi National Open University (IGNOU).
The Indian Culture Web Portal is a part of Prime Minister, Narendra Modi’s Digital India initiative.
The main aim of the portal is to promote awareness among the citizens of India about the diverse heritage of the country.
The content of the portal includes rare books, e-books, manuscripts, artefacts from museums, archives, Indian National Bibliography, anecdotes and detailed accounts of Indian UNESCO (United Nations Educational, Scientific and Cultural Organization) World Heritage Site, Musical Instruments of India and more. It is available in both English and Hindi.
Arun Goel, Culture Secretary and Usha Sharma, Director General, Archaeological Survey (DG ASI) and other senior officials were also present on the occasion.
International Mountains Day observed
This day is celebrated to raise awareness about the importance of mountains, opportunities and emphasize the development of mountains.
The theme of International Mountains Day 2019 is “Mountains matter for Youth”.
The first International Mountains Day was observed on 11 December 2003. Every year it is celebrated with a special theme.