Event Diary – 23 Feb 2012 Thursday

The first-ever regional domestic airline Air Costa to be launched soon

The first-ever regional domestic airline Air Costa will be launched soon with Chennai and Hyderabad as the hubs. It is based out of Andhra Pradesh, headquartered at Vijayawada, an initiative of the Lingamaneni Estates Private Limited (LEPL).
It proposes to launch the airlines with a fleet of Canadian Q 400 Bombardier aircrafts that are most-suitable for the regional short-haul connectivity between Tier-II and III cities with major metros.
It has received No-Objection Certificate from the Ministry of Civil Aviation for going ahead.

Your phone chat can soon be directly accessed by the Centre

Following the leak in the corporate lobbyist Niira Radia phone-tapping case, the Centre had decided to set up a Central Monitoring System (CMS) to tap calls without the interference of telecom service providers. Subsequently, the DoT’s Telecom Enforcement, Resource and Monitoring (TREM) Cell along with the Centre for Development of Telematics (C-DoT) was asked to develop the project for which Rs.170 crore was earmarked. After almost one year, the CMS is ready and being tested.

It would take another 12 months before the system is officially operational, the trials are currently being conducted in Delhi and Haryana.

Currently we have a complex system of phone tapping, eight intelligence and investigating agencies wanting to tap anybody’s phone are required to approach the Union Home Ministry for clearance with specific reasons. After getting the necessary clearances, the officials would then approach the telecom operators for tapping phones. It is feared that the loopholes in the current process led to the leakage of the Radia tapes, so now in the new system, the DoT will have total control of a tapped line, giving telecom firms no access to the intercepted line. Also, irrespective of operators, lines would be tapped at one location, which will be manned round-the-clock by officials of the government agencies.

India resisted Italy’s midway formula

In a meeting with the Italian’s visiting Deputy Foreign Minister, the Indian Minister of State for Foreign Affairs Preneet Kaur resisted the Italy’s midway formula for the killing of Indian nationals case, India insisted that the matter now rests with the Kerala High Court.

As the alleged shooting took place in international waters, the Italian extra-territorial law ought to prevail. India has already said its laws also have a similar provision in case an Indian is killed or an Indian vessel attacked.

Ms. Kaur heard also considered his argument that the claim that alternatively the United Nations Convention on the Law of the Sea (UNCLOS) should be applicable, which again provides for prosecution in the state (in this case Italy), whose flag the ship is flying. With the Ministry of External Affairs’ legal cell having already conveyed rejoinders to both positions, Ms. Kaur told him that as Indians, “we will go by our law.”

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Safety measures to ensure coastal security

Following the Italian shooting incident, Kerala Chief Minister Oommen Chandy ensured that the government would take concrete steps to ensure the safety of fishermen at sea in view of repeated incidents of firing at them by foreign ships. A high-level conference of the Coast Guard, Navy, and officials of Police and Fisheries departments to review the security measures, would be convened by him.

BSE launches Greenex

The BSE Greenex was launched by the Union Minister for Corporate Affairs Veerappa Moily, which includes stocks of 20 companies from BSE 100, which meet the energy efficiency norms, allowing investors to derive benefit from the related cost savings.

Major constituents of the index: ICICI Bank, SBI, HDFC, Sun Pharma and BHEL.

The Greenex targets the retail, as well as institutional investors such as asset managers and pension funds looking for investments in companies with strong long-term prospects and develop green financial products. The Greenex gauge has been developed by gTrade, a local firm working on financial innovations in energy efficiency, and BSE Ltd.



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