Ebola virus kills over 300 in West Africa: WHO
As per World Health Organization (WHO), the deadly Ebola virus has killed 337 people in West Africa so far. The region has reported 14 deaths and 47 new cases. Guinea is worst-hit with 264 Ebola-related deaths. In Sierra Leone, there have been 49 deaths and in Liberia 24.
The outbreak of the virus began in southern Guinea’s Guekedou region, but has now spread to its neighboring countries.
There is no cure or vaccine for Ebola – one of the world’s deadliest viruses. As per WHO, the virus spreads by close contact and has high rate of between 25% and 90%, depending on the strain of the virus.
Symptoms include internal and external bleeding, diarrhoea and vomiting.
Ebola virus disease (EVD)
- Symptoms include high fever, bleeding and central nervous system damage
- Death rate can reach 90%
- 2 to 21 days of Incubation period
- No vaccine, No cure
- Supportive treatment such as rehydration by administering fluid and electrolytes can help recovery
- Fruit bats are considered to be the natural host of the virus
As per World Health Organization (WHO), the deadly Ebola virus has killed 337 people in West Africa so far. The region has reported 14 deaths and 47 new cases. Guinea is worst-hit with 264 Ebola-related deaths. In Sierra Leone, there have been 49 deaths and in Liberia 24.
The outbreak of the virus began in southern Guinea’s Guekedou region, but has now spread to its neighboring countries.
There is no cure or vaccine for Ebola – one of the world’s deadliest viruses. As per WHO, the virus spreads by close contact and has high rate of between 25% and 90%, depending on the strain of the virus.
Symptoms include internal and external bleeding, diarrhoea and vomiting.
Ebola virus disease (EVD)
- Symptoms include high fever, bleeding and central nervous system damage
- Death rate can reach 90%
- 2 to 21 days of Incubation period
- No vaccine, No cure
- Supportive treatment such as rehydration by administering fluid and electrolytes can help recovery
- Fruit bats are considered to be the natural host of the virus
Nita Ambani became First woman director on Reliance board
Nita Ambani, wife of Reliance Industries Chairman Mukesh Ambani, became the first woman to be appointed on the board of the country’s largest private companyReliance Industries Limited (RIL).
The appointment of Nita Ambani on the board of Reliance Industries Limited (RIL) fulfills the requirement of a new law according to which listed companies are required to have at least one woman in the boardroom to promote gender diversity.
The RIL board, headed by Mukesh Ambani, 57, currently has his cousins Nikhil R Meswani and Hital R Meswani. Ramniklal H Ambani, who is the elder brother of Dhirubhai H Ambani, the late Founder Chairman of the company and father of Mukesh, was the other director from the promoter family. Nita, 50, took the place of Mukesh’s uncle Ramniklal H Ambani, who retired from the board at the age of 90. P M S Prasad and P K Kapil are the only non-family executive directors on the company board.
Nita Ambani, wife of Reliance Industries Chairman Mukesh Ambani, became the first woman to be appointed on the board of the country’s largest private companyReliance Industries Limited (RIL).
The appointment of Nita Ambani on the board of Reliance Industries Limited (RIL) fulfills the requirement of a new law according to which listed companies are required to have at least one woman in the boardroom to promote gender diversity.
The RIL board, headed by Mukesh Ambani, 57, currently has his cousins Nikhil R Meswani and Hital R Meswani. Ramniklal H Ambani, who is the elder brother of Dhirubhai H Ambani, the late Founder Chairman of the company and father of Mukesh, was the other director from the promoter family. Nita, 50, took the place of Mukesh’s uncle Ramniklal H Ambani, who retired from the board at the age of 90. P M S Prasad and P K Kapil are the only non-family executive directors on the company board.
RBI uses OMOs to absorb excess rupee from the system
The Reserve Bank of India (RBI) conducted Open Market Operations (OMOs)to sell Rs 2,255 crore of government bonds between June 2 to June 6, 2014, to absorb excess rupee liquidity it has injected into the system through dollar purchasing. As per market experts, the apex bank may have also been trying to curb volatility in government securities through these OMOs.
Some traders apprehend that if RBI continues the practice then bond prices may fall. Since the beginning of the new financial year on April 1, 2014, these have been the RBI’s largest sale of government bonds through OMOs, a platform where the apex bank anonymously sells or buys government securities in thesecondary market.
The main motive behind the RBI’s measure was probably the excess rupee liquidity in the system.
The RBI’s dollar buying has brought in rupee liquidity into the system, besides the central bank’s routine term repo windows, where banks can borrow for a stipulated period like 4 to 28 days. For instance, it did a 28-day term repo for Rs 20,000 crore on June 6, 2014. To neutralize its impact, it has already begun selling in the rupee forwards market. During April 2014, the RBI sold about $1 billion, taking the outstanding net forwards sales to $32.06 billion.
Do away with the post of Revenue Secretary, merge CBDT, CBEC: Shome Panel on TARC
The government appointed Tax Administration Reform Commission (TARC), headed by Parthasarathi Shome, has recommended some radical reforms in tax administration which include:
- Abolition of the post of Revenue Secretary
- Amalgamation of CBDT and CBEC
- Broaden the use of Permanent Account Number (PAN)
- Avoid retrospective amendments to tax laws
- Income Tax Return should also include wealth tax details
- Separate budget allocation to ensure time bound tax refund and a passbook scheme for TDS (Tax Deduction at Source).
- Tax Administration should be given greater functional and financial autonomy and independence from governmental structures, given their special needs.
As per report submitted by the panel to the Finance Ministry, the Revenue Secretary, an IAS, is “likely to have little experience or background in tax administration at the national level and little familiarity with tax.”
TCS en route to become world’s second biggest tech employer
Tata Consultancy Services (TCS) is very close to becoming world’s second biggest tech employer. Currently, with over 3 lakh employees, it has already become the world’s 3rd largest employer in the technology sector. Considering the pace at which it is expanding, it could become the second largest employer by the end of 2014, overtaking Hewlett-Packard, and would be fast closing in on leader IBM.
TCS has been India’s one of the biggest job creators in recent years. On an average, the number of employees in TCS is rising each year by between 25,000 and 35,000. In fiscal 2013-14, the $13.4-billion Tata Group company hired 61,200 people, with the net addition being 24,268, brushing aside those who left the company. As per the company, it will hire 55,000 people in 2014. If the net addition is half of that, it will be significantly ahead of HP’s number by the end of fiscal 2014-15. Among Indian IT companies, Infosys is almost 50% of TCS with 1.6 lakh employees.
Government appoints Shaktikanta Das as Revenue Secretary
The Appointments Committee of the Cabinet (ACC) approved the appointment of Shaktikanta Das, a 1980 batch Indian Administrative Service (IAS) officer ofTamil Nadu cadre, as the new Revenue Secretary, replacing Rajiv Takru.
Mr. Das, who is at present Fertilizers Secretary in the Ministry of Chemicals and Fertilizers, will take charge as Revenue Secretary in the finance ministry after Mr. Takru relinquishes the post.
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