Thursday, 10 June 2010

Current Affairs at the End of June 2010



Current Affairs at the end of 10-06-10



Question #1: Which among the following agricultural products is India's main import item?


Question #2: Find out the correct location of McMurdo Dry Valleys the hyper saline water bodies on dry land?


Question #3: . Damodar and Sone river valley and Rajmahal hills in the eastern India are depository of the______?


Question #4: Which among the following is the first private company of India to get protection from the Central Industrial Security Force (CISF)?I


Question #5: Which among the following is a Public Sector Travel and Tours Company ?


Question #6: From the given options, Find out Most urbanized Country ?


Question #7: Which of the following African Country is also known sometimes as Ngwane?


Question #8: Which among the following is not a Landlocked Country?


Question #9: What is RuBisCO? (


Question #10: The Red color of Red wine is mainly because of _____?


Question #11: Revenue-neutral rate (RNR) is a component of which of the following taxes in India?


Question #12: By April 2010, how many approvals have been granted for setting up of SEZs in India ?


Question #13: What is the current number of notified Eco Sensitive Zones in India?


Question #14: Which of the following bank has recently won the prestigious Asian Banker Achievement Award for bein


Question #15: India's all economic transactions with the outside world in a year will be known as __________?


Note:After complete this test Results will be displayed in another page.
after checking your results please click on Back side Button and You will return to this blog.Thank you for taking test.


Wednesday, 9 June 2010

2010 Pulitzer Prize winners



The abiding importance of excellence and the power of the single person were underscored by the co-chairs of the Pulitzer Prize Board when the 2010 Pulitzer Prizes in arts and journalism were presented on May 24 at a luncheon on the Columbia University campus. More than 300 attended.
David Kennedy, a historian at Stanford University, explored the history of excellence, saying it is “rare, difficult to achieve, but a source of much happiness.”
His co-chair, Amanda Bennett, an executive editor at Bloomberg News, stressed how distinguished journalism repeatedly comes down “to the decisions, and the actions, and the passion of one person.”

Bollywood veteran Manoj Kumar felicitated with Phalke Ratna award

Noted actor Manoj Kumar was today felicitated with the 'Phalke Ratna award' for his contribution to the Indian film industry.

Filmmaker Randhir Kapoor, who received the 'Phalke Kalptaru award' on behalf of his grandfather and legendary actor Prithviraj Kapoor, said "It is a great moment and I am happy and honoured to receive this award for my 'dadaji'.

"It is Dadasaheb Phalke who gave the Kapoor family "a job." Whatever we are today, it is because of him," Kapoor said.

Another Kapoor to be awarded on the occasion was noted actor Shammi Kapoor. He was honoured with the 'Phalke legendary actor award'.

Ashutosh Gowariker got the award for 'memorable commercial film' - 'Jodhaa Akbar'.

"Every award has its own importance and significance. To receive award from the Academy of father of Indian cinema - Dadasaheb Phalke - is in itself an honour. It feels immense pleasure to receive this award along with several other noted artists from the industry," Gowariker said.

The awards have been instituted by Dadasaheb Phalke Academy in honour of the father of Indian cinema whose 148th birth anniversary is celebrated on April 30.Another personality to be awarded was Shamshad Begum, one of the first playback singers in Bollywood, and who has given us memorable hits like 'Kajra Mohabtawala...' and 'Leke Pehla Pehla Pyar...'.

Shamshad Begum was honoured with the 'Phalke Golden Era singer award'.

The nonagenarian singer, who required help to get on the stage because of frail health, said, "though I have got the award when I am in my 90s, I am very happy about it."

Vipin Reshammiya, honoured for his contribution as musician and film producer, said, "I thank you all for the love and support that you have given me and hope that the same will be passed on to my son, Himesh."

"I am thankful to all who have given so much recognition to my father. I owe my entire success to him," Himesh said. 

Oh Eun-Sun Officially Recognized as 1st Woman to Climb the 8,000ers














At eight o'clock in the morning on Monday, May 3, Oh Eun-Sun, the South Korean woman who climbed Annapurna a week ago, met with 85-year-old American journalist and mountaineering historian Elizabeth Hawley in Katmandu, Nepal to discuss Oh's disputed ascent of Kangchengjunga last year. As an archivist, Hawley has been keeping records of mountaineering ascents since 1960 and is considered the official arbiter of ascents in the high mountains of Asia.
After carefully interviewing Oh Eun-Sun and asking her about the discrepancies and allegations regarding her ascent of Kangchenjunga, Hawley asked her straight up if she had really climbed all fourteen of the 8,000-meter peaks, the world's highest mountains.
Without hesitation, Oh replied, "Yes, I did."
Satisfied with all Oh's responses, Hawley said, "Congratulations." Thus Oh's record as the first woman to climb the 8,000ers was signed, sealed, and delivered. Let the lectures, endorsements, and photo shows begin.
Elizabeth Hawley told AFP afterward, "Oh will be credited for her climb to Kangchenjunga, but the ascent will be marked as disputed." She said that the record and the climb will remain disputed until Spanish climber and Oh's rival to climb the peaks Edurne Pasaban withdraws her objections and allegations. Pasaban previously said that she would abide by whatever decision Hawley reached after interviewing Oh.
 It appears that time is now. Pasaban needs to let it go and get on with climbingShishapangma and become the second woman to climb the elite fourteen peaks. We can also turn our attention to the other women climbing the peaks, including Austrian alpinist Gerlinde Kaltenbrunner, who needs only two peaks--K2 and Mount Everest--to complete the list. Kaltenbrunner, currently on Everest, would become the first woman to scale the peaks without supplemental oxygen.
 Late last week, the Nepal Mountaineering Association recognized Oh Eun-Sun as the first woman to successfully climb the 8,000ers. Ang Tshering Sherpa, president of the association, said, "We recognize her achievement as the first woman climber to scale all the highest mountains in the world. We are all happy and proud of her achievement."
 Likewise, I offer my congratulations to Miss Oh for her achievement. Climbing any high peak is dangerous and difficult, and while some of the Korean expeditionary tactics are a throwback to the 1960s, she persevered and reached the 14 summits and returned alive.

Julia Roberts: World's most beautiful person, tops list

Julia Roberts has for the twelfth time, topped the list for World's Most Beautiful people on Wednesday. She is joined on this list by Hally Berry,Jennifer Lopez and Angelina Jolie. The new entry this year was Ashley Greene, from the Twilight saga.

PRETTY WOMAN Julia Roberts has for the twelfth time, topped the list for World's Most Beautiful people on Wednesday. She is joined on this list by Hally Berry, Jennifer Lopez andAngelina Jolie. The new entry on the list this year was Ashley Greene who plays a vampire in the Twilight franchise.
Julia Roberts, 42, a mother of two proves that age does not matter and that she has remained as beautiful as her days in Pretty Woman, twenty years ago. The actress won an Oscar for her role in Erin Brockavich in 2001, but had already very much proved herself with roles like journalist Sabrina Peterson in I love trouble, Julianne Potter in My Best Friend's wedding and teacher Katherine Ann Watson in Mona Lisa Smile.
She will appear next in Eat, Pray, Love in August.
On the other hand, the World's Most Beautiful People list in People magazine also gave due space and rank to Robert Pattinson, Justin Bieber and Adam Lambert. Special speave was also given to Beautiful Jessicas, which included actresses Jessica Biel, Jessica Alba and singer Jessica Simpson.
There was also mention of a number of persons who got due space, but weren't ranked on the list. These included Jennifer Aniston, Rihanna, Taylor Swift, Beyonce, Bradley Cooper, Johnny Depp and Patrick Dempsey.

Sudan elects Omar al-Bashir as president

Election official Abel Alier announced at a news conference that al-Bashir won 68% of the presidential vote, while Salva Kiir, the president of Sudan's semi-autonomous southern region, won re-election with 92,99% of the vote in that race.

After a vote outside observers said fell short of global standards, al-Bashir is expected to form a coalition with Kiir as the country heads towards a 2011 plebiscite that is expected to lead south Sudan to split off and become Africa's newest state.

Al-Bashir had hoped a win in legitimate polls would help him defy the ICC warrant, in which he is accused of ordering a campaign of murder, torture and rape in Sudan's Darfur region.

But the polls were marred by widespread charges of fraud, including from Kiir's Sudan People's Liberation Movement (SPLM), suggesting the new ruling coalition will be a fragile one.

Al-Bashir and Kiir's current coalition government has had a rocky five years since signing a 2005 peace deal that ended more than two decades of civil war between north and south Sudan.

North-south tensions bode poorly for full implementation of the peace deal, including next year's referendum. Any major delay to that vote would be unacceptable to southerners who many analysts believe overwhelmingly desire secession. 

Al-Bashir vowed a promised referendum on independence for the south will go ahead as planned in January next year.

"I assure [you] the referendum in south Sudan will take place on schedule," al-Bashir said in an address carried by state television. 

T M Bhasin is Indian Bank new CMD


T M Bhasin was today appointed as Public sector Indian Bank's Chairman and Managing Director. He succeeds M S Sundarajan, who retired yesterday.
Bhasin, an MBA (finance) topper from University of Delhi, is also an alumnus of JFK School of Government, Harvard.
He entered the industry as a Probationary officer in Oriental Bank of Commerce in 1978 and served it for over three decades in various capacities.
As an Executive Director of UBI, he was instrumental for the success of the bank's Initial Public Offer, the release said.

Chetan Bhagat to judge talent show for news anchors

Indian author Chetan Bhagat is all set to step into the shoes of a judge in a new reality show to search potential news anchors in the country.

The 36-year-old novelist will judge the 'Anchor Hunt' on Star News along with actress Tisca Arora and Siddhartha Sharma.

"I was impressed by the effort to make a real show.

This way, the youth of India could see the selection process.

An anchor is required to have good communication and thinking on the spot skills. These are the same skills used in almost any job interview. So whether a young person wants to be an anchor or not, watching the show will help add some useful skills to him," Bhagat said in a statement.

The author of books like 'One Night @ The Call Centre' and 'Five Point Someone', said he found something valuable after working on the show.

Kiran Mazumbar shaw fight against Cancer


Biocon and HCG group of hospitals announced their partnership to conduct a study to evaluate the potential benefits of BIOMAb EGFR in cervical cancer patients.This unique molecule would take healthcare for cervical cancer patients to a new threshold. BIOMAb EGFR is Biocon’s humanized monoclonal antibody which is approved for the treatment of head and neck cancers in India.
The study will be conducted for six years in various centers of HCG across the country, involving many eminent oncologists and will be in compliance to ICH-GCP guidelines. The participating centers are Bangalore, Mysore, Vijayavada, Ranchi, Cuttack and Nashik.
“This partnership is in light of the unmet need for an effective treatment option for the large number of cervical cancer patients in our country. I see this collaborative model of Biocon’s unique humanized MAb and HCG’s state of the art facilities as a big step towards developing India as a global destination for translational research and cutting edge clinical trials.” said Kiran Mazumdar Shaw, MD, Biocon Ltd.
Ajai Kumar, Chairman and CEO of HCG group of hospitals said, “This HCG-led study will be conducted in a well controlled manner specifically keeping in mind the needs of the Indian patients which vary considerably from those of the West. Most treatment for this disease is currently based on data obtained from the western world. We chose BIOMAb EGFR taking into account the safety profile this molecule has displayed in addition to results obtained in the other studies with this drug”.
Cervical cancer is the most common cancer among women in India and is the primary cause of cancer-related deaths in developing countries. To an estimated annual global incidence of 500,000 cervical cancers, India contributes 100,000, ie. 1/5 of the world burden. Cervical cancer is responsible for more than 280,000 deaths annually worldwide. In India the number of deaths due to cervical cancer is estimated to rise to 79,000 by the year 2010. The cancer mostly affects middle-aged women (between 40 and 55 years), especially those from the lower economic status.Chemo radiotherapy has been shown in several studies to be more effective in terms of overall survival and local control, than radiation therapy alone in the treatment of women with locally advanced carcinoma of the cervix. But still the 2 year progression free survival is around 67% and there is a need for further improvement.
BIOMAb EGFR is being studied globally in various indications like Glioma, NSCLC, Pancreatic cancer, Gastric...

Biography:

Chairman & Managing Director of Biocon Ltd; Felicitated with Padmashri (1989) and Padma Bhushan (2005).

Kiran Mazumdar Shaw is the Chairman & Managing Director of Biocon Ltd, India's biggest biotechnology company. In 2004, she became India's richest woman.

Kiran Mazumdar Shaw was born on March 23, 1953 in Bangalore. She had her schooling at Bishop Cotton Girls School and Mount Carmel College at Bangalore. After doing completing her B.Sc. in Zoology from Bangalore University in 1973, she went to Ballarat University in Melbourne, Australia and qualified as a master brewer.

Kiran Mazumdar Shaw started her professional career as trainee brewer in Carlton & United Beverages in 1974. In 1978, she joined as Trainee Manager with Biocon Biochemicals Limited in Ireland. In the same year, Kiran Mazumdar Shaw founded Biocon India in collaboration with Biocon Biochemicals Limited, with a capital of Rs.10,000. She initially faced many problems regarding funds for her business. Banks were hesitant to give loan to her as biotechnology was a totally new field at that point of time and she was a woman entrepreneur, which was a rare phenomenon.

Biocon's initial operation was to extract an enzyme from papaya. Under Kiran Mazumdar Shaw's stewardship Biocon transformed from an industrial enzymes company to an integrated biopharmaceutical company with strategic research initiatives. Today, Biocon is recognised as India's pioneering biotech enterprise. In 2004, Biocon came up with an IPO and the issue was over-subscribed by over 30 times. Post-IPO, Kiran Mazumdar Shaw held close to 40% of the stock of the company and was regarded as India's richest woman with an estimated worth of Rs. 2,100 crore.

Kiran Mazumdar Shaw is the recipient of several prestigious awards. These include ET Businesswoman of the Year, Best Woman Entrepreneur, Model Employer, Ernst & Young's Entrepreneur of the Year Award for Life Sciences & Healthcare, Leading Exporter, Outstanding Citizen, Technology Pioneer, etc. Government of India also felicitated her with Padmashri (1989) and Padma Bhushan (2005).

Sachin Tendulkar hits Double Century Against South Africa in Gwalior


It took nearly 40 years of waiting and it was well worth it. Sachin Tendulkar chose one of the better bowling attacks doing the rounds, to eclipse the record for the highest score, before bringing up the first double-hundred in ODI history. The spectators at the Captain Roop Singh Stadium became the envy of cricket fans as they witnessed one of the country's favourite sporting heroes play a breathtaking innings which not only set up a 153-run annihilation but also the series victory. He may have been run-out cheaply in the previous match, but nothing could deny him today - be it bowlers, fielders, mix-ups or cramps.Dinesh Karthik, Yusuf Pathan and MS Dhoni stood by and admired as the master unfurled all the shots in his repertoire.
At 36, Tendulkar hasn't shown signs of ageing, and his sparkling touch in both forms of the game has ruled out all possibilities of him checking out anytime soon. Fatigue, cramps and paucity of time have stood in the way of batsmen going that extra mile to get to the 200-mark. Tendulkar did cramp up after crossing 150, but he didn't opt for a runner. His experience of 20 years at the international level came into play in this historic innings, staying at the crease from the first ball to the last, never once losing focus. There were no chances offered, no dropped catches, making his innings absolutely flawless.
A swirl of emotions must have run through his mind as he approached one record after another but he ensured he was never lost in the moment. His running between the wickets remained just as swift as it had been at the start of the innings. The humidity in Gwalior was bound to test him but he stood above it all and played like he owned the game, toying with the bowling with a mix of nonchalance and brute power.
In the 46th over, with a flick for two past short fine-leg, Tendulkar broke the record for the highest ODI score, going past the 194 made by Zimbabwe's Charles Coventry and Pakistan's Saeed Anwar, and to say that he acknowledged his feat modestly would be an understatement. His muted celebration on going past 194, true to style, made his innings all the more endearing. He didn't raise his bat, merely shook hands with Mark Boucher and simply carried on batting amid the din. Coming from a man who is not known to showing too much emotion with the bat in hand, it wasn't surprising. He reserved his celebrations for the magic figure of 200, which he reached in the final over with a squirt off Charl Langeveldt past backward point. He raised his bat, took off his helmet and looked up at the skies and it was only fitting that one-day cricket's highest run-getter reached the landmark.
Tendulkar's innings featured strokes of the highest quality, but his true genius was exemplified by one particular shot which rendered even the best bowler in the world helpless. In the first over of the batting Powerplay - taken in the 35th over - Dale Steyn fired it in the block-hole for three deliveries outside off to keep him quiet. Tendulkar, feeling the need to improvise, walked right across his stumps and nonchalantly flicked him across the line, hopping in his crease on one leg to bisect the gap at midwicket. A helpless Steyn watched the ball speed away and merely shrugged his shoulders. There was no use searching for excuses or venting frustrations at the temerity of that shot. It was just that kind of afternoon for the bowlers.
It wasn't all just about the cheekiness of his shots. His timing and placement were the hallmarks at the start of his innings. On a road of a pitch which offered no margin of error for the bowlers, he squeezed out full deliveries past the covers and off his pads. With no seam movement on offer, Jacques Kallis took the slips off and placed them in catching positions within the 15-yard circle, hoping to induce a mistake. But Tendulkar outplayed all of them, making room to manoeuver it past a number of green shirts. There were a minimum of two runs on offer each time the ball was placed wide of them and the quick outfield did the rest.
Once he got his eye in, the short boundaries and the flat pitch were too inviting. Virender Sehwag's dismissal for 11, caught at third man, was just an aberration as Karthik, Pathan and Dhoni traded cricket bats for golf clubs. Driving and lofting through the line had never been this easy. Tendulkar could have driven them inside out in his sleep.
The two century stands, with Karthik and then with Dhoni, may well get lost in the scorecard but they were vital building blocks. Karthik rotated the strike well in their stand of 194, struck three clean sixes and helped himself to his career-best performance. That partnership sent out ominous signs to the South Africans that they were in for something massive. Add Dhoni's bludgeoning hits and scoops and you had a score in excess of 400.
Tendulkar reached his fifty off 37 balls and his century off 90. Ironically, he struck his first six - over long-on - when on 111. Pathan bashed it around at the other end, clubbing full tosses and short deliveries in his 23-ball 36, as India amassed 63 runs in the batting Powerplay. The South African seamers made the mistake of trying to bowl too fast and as a result, sent down too many full tosses and full deliveries. The unplayable yorkers remained elusive and Tendulkar, who was seeing it like a beach ball, picked the gaps, made room and improvised.
He reached his 150 by making room to Parnell and chipping him over midwicket with a simple bat twirl at the point of contact. The heartbreak of Hyderabad, when his scintillating 175 all but won India the match against Australia last year, must have lingered in his mind as he approached that score again. A towering six over long-on later, he not only eclipsed Kapil Dev's 175 but also looked set to wipe out his own record. He started clutching his thighs, indicating that cramps had set in, but even that could not stop him today.
He equalled his highest score of 186 by pulling a lollipop of a full toss off Kallis and broke his own and India's record with a single to square leg. Fortunately, he didn't have to do much running and played the spectator's role for a change as Dhoni bulldozed his way to a 35-ball 68, muscling four sixes. The Dhoni bottom-hand is the strongest in the business these days and the exhausted spectators had enough energy left in their vocal chords to cheer him on as well.
The record of 200, however, was yet to be attained and the crowd were desperate for Tendulkar to get the strike. Dhoni tore into Steyn for 17 off the 49th over and retained the strike for the 50th. After hammering the first ball of the 50th for six, he shoveled a full toss to deep midwicket where Hashim Amla made a brilliant save. Tendulkar settled for a single and the crowd were on their feet as they watched him make history. It was all the more fitting for another reason because it was on this very day, back in 1988, that he and Vinod Kambli added a mammoth 664 - then a world record - in a school match.
There was to be no repeat of the 434-chase at the Wanderers, when South Africa took guard, perhaps mentally and physically shaken after the assault, and with a partisan crowd to contend with. AB de Villiers' attacking ton got completely lost in the chase as South Africa merely went through the motions. It was all a question of how quickly India could wrap it up.
Herschelle Gibbs, Hashim Amla, Roelof van der Merwe and Jacques Kallis all got out cheaply within the first 15 overs. de Villiers motored along at more than a run-a-ball, and collected 13 fours and two sixes. South Africa had to rely on the services of nine men to muster 200 - for India one man sufficed.
Tendulkar's knock drew parallels with Brendon McCullum's frenetic 158 in the IPL opener in Bangalore two years ago. The match was all about individual brilliance but not a contest. While such games are good in small doses, for one-day cricket to survive on the whole, it needs more contests between bat and ball.


Next SAARC summit in Maldives


President Mohamed Nasheed said the 17th South Asian Association for Regional Cooperation (SAARC) meeting will be held in the South Province.
The president said the summit could take place in both Addu and Fuahmulah Atolls during his weekly radio address last Friday on the Voice of Maldives.
President Nasheed acknowledged it would take a lot of work and preparation to hold the summit in Maldives, but said he was “confident a successful summit could be held in the South Province.”
The president noted this would be the first SAARC summit to be held in the southern hemisphere.
The 16th SAARC Summit was held last month in Bhutan’s capital, Thimphu.

Vijaya gandhi is Sworn in Megistrate Judge for the District Court of the central District of California


Vijay 'Jay' C. Gandhi has become the first Indian American federal judge in the Central District of California and the second community member to become federal judge in the history of the United States.
Gandhi, 38, sworn in as a Magistrate Judge for the US District Court for the Central District of California last week, is also one of the youngest federal judges currently serving in the Central District.
Gandhi will sit in Los Angeles and will preside over matters arising from all three divisions of the court. The Central District of California is the largest district in the US, serving more than 19 million people.
'We are exceptionally proud of Judge Gandhi for his accomplishments, especially given his steadfast commitment to the South Asian community,' said Joseph J. Centeno, president of the National Asian Pacific American Bar Association (NAPABA). 'He will be an outstanding magistrate judge.'
Gandhi was formerly a litigation partner at Paul, Hastings, Janofsky&Walker LLP. He practiced law for nearly 12 years at the firm, as an associate from 1998 to 2006, and as an equity partner, thereafter.
He also worked on a full-time basis as a volunteer Deputy District Attorney and first-chaired multiple jury trials as a prosecutor.
Gandhi has been repeatedly recognisd as a 'Rising Star Lawyer' in the 'Super Lawyers' Edition of Law&Politics Magazine.
He is also a prolific writer and speaker on securities and business litigation, and has co-authored a book about securities law claims.
Prior to joining Paul Hastings, Gandhi clerked for Kenneth M. Hoyt, US District Court Judge for the Southern District of Texas.
Gandhi received his JD degree from the University of Southern California Law School, where he graduated Order of the Coif and received multiple American Jurisprudence awards.
Gandhi is also a Past President and Lifetime Member of the South Asian Bar Association of Southern California, an affiliate of NAPABA.

Rana Dasgupta wins Commonwealth writers' prize for best book SOLO

British Indian novelist Rana Dasgupta won this year's prestigious Commonwealth Writers' Prize for Best Book for his epic story Solo, while Australian author Glenda Guest's Siddon Rock was adjudged the Best First Book at the award's final ceremony in New Delhi today.

Dasgupta, whose book was earlier adjudged the best in the South Asia and Europe region, beat stiff competition from three other regional winners nominated for the final award.
The contenders, who lost out in the race were South African author Marie Heese's The Double Crown, Canadian writer Michael Crummey's Galore and Samoan author Albert Wendt'sThe Adventures of Vela.
Born in the UK, the 38-year old author whose first book Tokyo Cancelled was shortlisted for the 2005 John Llewellyn Rhys Prize, has been based in Delhi for the last nine years.
Solo is Dasgupta's second book and is a story that encompasses a century of communist and post-communist regimes in Bulgaria, told from the perspective of a near centenarian man.
Guest's Siddon Rock, on the other hand, won the award over other first timers - Nigerian author Adaobi Tricia Nwaubeni's I Do Not Come to You by Chance, Canadian debut novelist Shandi Mitchell's Under This Unbroken Sky and Pakistani author Daniyal Mueenuddin's In Other Rooms, Other Wonders.
While the Best Book award carries a prize of 10,000 pounds, the best first book award carries a 5,000 pounds award money.
The Commonwealth Writers' Prize, one of the world's most prestigious literary awards, is presented annually to reward the best Commonwealth fiction written in English by both established and new writers.
The Prize, instituted in 1987 by the Commonwealth Foundation, covers the Commonwealth regions of Africa, the Caribbean and Canada, Europe and South Asia and South East Asia and Pacific.
The eight winners that emerged from the regional judging were announced in March and were in Delhi for the final phase of the competition.
The previous winners of the Prize include Vikram Chandra, Jhumpa Lahiri, Mohammed Hanif, V S Naipaul, J M Coetzee, Indra Sinha, Alice Munro and Margaret Atwood among others.

China's social security fund to double $300 bn


China's national Social Security Fund (SSF) will be more than doubled to $300 billion in 2015, said Fund chief Dai Xianglong on Sunday.
The Fund's current size is $130 billion, said Mr. Dai at the annual conference of Boao Forum for Asia in south China's island province of Hainan.
The SSF is ready to buy into unlisted companies and invest more in private equity funds this year, said Mr. Dai, chairman of the National Council for Social Security Fund.
The agency has invested 6 billion to 7 billion yuan ($1.02 billion) in five local PE funds, he said. The cap of investment in PE funds is 10 per cent of its total capital.
Mr. Dai, also the former central bank governor, said China needs not only to attract foreign investment but also to expand channels for investment overseas as the country's foreign exchange reserves has risen to $2.4 trillion.
But the central bank should not buy a huge amount of foreign currency and inject equivalent yuan into the financial system, as it could lead to capital bubbles, he said.
“The move is no good for us. We need to increase overseas investment,” he said.
The SSF will also work to promote cooperation between the emerging economies, he said.
The emerging economies will contribute more to global economic growth in the next 10 to 20 years, but they also face growth challenges, including inflation, transformation of economic growth pattern and volatile international capital flows, Dai said.
The emerging economies face pressure on inflation after explosive growth in lending last year aimed at reviving growth amid the financial crisis, said Mr. Dai.
Growth
The export-driven growth in countries like China not only costs a huge amount of resources, but also leads to many trade frictions, he said, adding that the future growth should stress more on consumption.
He also expressed the worry over international capital volatility faced by the emerging economies. He said inflows of hot money had inflated asset bubbles in China. — Xinhua

Jayasuriya wins parliament seat for Marata District


Sanath Jayasuriya has won a seat in parliament for the ruling United People's Freedom Alliance (UPFA) led by President Mahinda Rajapaksa, AFP has reported. Jayasuriya, 40, cast his ballot on Wednesday, a day before the nationwide election as he had to head back to India to play in the ongoing IPL.
Jayasuriya won 74,352 votes to win his seat in his hometown Matara, in the southern province, an official with the local election commission said. Jayasuriya is the latest high-profile cricketer in the country to join politics, following the footsteps of former World Cup winning captain Arjuna Ranatunga and Hashan Tillekaratne.
Incidentally, Ranatunga was formerly with the UPFA, before switching allegiance to the defeated opposition presidential candidate Sarath Fonseka, of the Democratic National Alliance.
Jayasuriya quit Tests in 2007 to focus in his limited-overs career. However, he's not been able to hold his place in the national team of late.

Russia has signalled support for the interim coalition govt formed in Kyrgzstan under the leadership of Ms.Roza Otunbayeva


Russia has signalled support for the interim coalition government formed in Kyrgyzstan on Thursday night in the wake of two days of large-scale riots that left 75 people dead.
Prime Minister Vladimir Putin promised help and support to interim government head Roza Otunbayeva in a phone call on Thursday.
“Based on a special nature of relations between our two countries, Russia has always extended and is ready to extend again the necessary humanitarian assistance [to Kyrgyzstan],” said Mr. Putin, according to his press secretary.
Russian President Dmitry Medvedev ordered the dispatch of 150 paratroopers to Kyrgyzstan to provide enhanced security to the Russian airbase at Kant, situated 30 km away from a U.S. airbase at the Manas international airport.
Ms. Otunbayeva told a press conference in the capital Bishkek that the interim government was in control of the situation in the country and had the support of the Army, border guards and police. She urged the ousted President, Kurmanbek Bakiyev, to resign. Mr. Bakiyev fled Bishkek on Wednesday and, according to Ms. Otunbayeva, could be organising resistance in the south, his stronghold. She confirmed that Prime Minister Daniyar Usenov had resigned on Wednesday.
The interim government will rule for six months until a new constitution is written and elections are held, said Ms. Otunbayeva.
The Health Ministry said 75 people had been killed and over 400 wounded in clashes between protesters and police across the country. Protests began on Tuesday in the northwest city of Talas over increased prices of fuel and electricity and quickly spread to the capital and other cities.
Eyewitnesses said most shops and offices in Bishkek had been looted and vandalised over the night. Mr. Bakiyev's house was also looted and set on fire, along with the houses of his relatives.
Russian media played up the fact that marauding mobs had broken into the Kyrgyz state art museum and stolen canvasses of some iconic Russian painters, including Vrubel, Levitan and Falk.
In their early comments Russia's leaders did not hide their irritation with the ousted Kyrgyz President. “This protest reflects an extreme level of public outrage with the authorities,” President Dmitry Medvedev was quoted by his press secretary.
“Kyrgyzstan has been and remains Russia's strategic partner so we will closely follow the developments in the republic,” he said.
Mr. Putin said earlier that Mr. Bakiyev had repeated mistakes made by his predecessor, Askar Akayev.
“When President Bakiyev came to power [in the ‘tulip revolution' in 2005], he harshly criticised the toppled President, Askar Akayev, for nepotism and giving his relatives top economic posts. I get the impression that Bakiyev has got caught in the same trap,” said Mr. Putin.
Mr. Akayev, who lives in Moscow, ruled out that Kyrgyzstan could slide into a civil war and said the situation should stabilise in a few days.

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