Current Affairs 10th May 2014

Current Affairs 10th May 2014

Updated : 11-May-2014

Current Affairs 10th May 2014 - Important Points
Current Affairs 10th May 2014 - Details
Sebi exempts Etihad from making an open offer for more shares in Jet Airways
On 8th May 2014, The market regulator SEBI exempted Abu Dhabi based Etihad Airways from making an open offer in the Jet deal. In its decision, the market regulator termed that purchase of 24% stake of Jet Airways by Etihad Airways doesn't amount to a change in ownership in Jet Airways. Thus it doesn't need to conduct a tender offer for shares in the domestic carrier.

The Jet-Etihad deal is the biggest merger and acquisition deal in India’s aviation sector.
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SEBI - Securities and Exchange Board of India
Indian companies will not be permitted to raise External Commercial Borrowings: RBI
The Reserve Bank of India, RBI, has decided that Indian companies will not be permitted to raise External Commercial Borrowings from overseas branches or subsidiaries of Indian banks for refinance or repayment of the Rupee loans raised from domestic banking system. In a notification, the RBI said that the restrictions are applicable in case of take-out financing, infrastructure financing and spectrum allocation and other repayments. The changes in the ECB policy come into force with immediate effect.
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External Commercial Borrowing loans are much cheaper than domestic loans and it is believed that some companies use the arbitrage available to their advantage.

Book entitled "India Junction - A Window to the Nation" launched by Indian Railways
On 9th May 2014, Chairman of Railway Board Mr. Arunendra Kumar released a book entitled "India Junction – A Window to the Nation".
The book features in-depth analytical essays of the rich history of Railways in India. It contains delectable travel pieces along with some truly amazing and rare photo features. It has examined that how railways has transformed the lives over time.
Caparo wins International Business of the Year award
On 9th May 2014, Caparo Group bagged the International Business of the Year award 2014. This award was given at the Asian Business Awards Midlands in Birmingham.
Caparo Group was founded by NRI industrialist Lord Swraj Paul.
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Lord Swraj Paul was made the Life Peer is a member of the House of Lords in 1996 and donated 1 million pounds to prevent the London Zoo closure in 1994 and He became the first Indian-born Deputy Speaker of the House of Lords in 2008 and was also appointed to the Privy Council in 2009.
'Silent Screams', an Indian documentary won three awards at US festival
On 9th May 2014, A documentary film, Silent Screams – India's Fight Against Rape won three awards at the 2014 New York Festivals International TV and Film Awards. This documentary film was directed by Pria Somiah.
The documentary tells the story of the brutal Delhi gang-rape of the 23-year-old paramedical student, Nirbhaya on 16 December 2012. Documentary also depicts the subsequent rise up of the people across the country to express their shock and outrage. Nirbahaya is the name was given to the girl by the media, who died few days after the rape.
The film has already won the Asia Pacific Broadcasting Union - Perspective Award 2013, in Hanoi.