Knowledge Diary – 24th July 2013, Wednesday

US court blocks internal revenue services’ bid: The US Internal Revenue Services (IRS) endeavors to help Indian tax authorities uncover financial information of a US resident, alleged to have evaded tax in India. A district court based in US cancelled the summons issued by the IRS and passes it to the Indian Tax Authorities.

RBI measure-Interest rates may rises: To check the rupee value against dollar, Reserve Bank of India introduces more measures and therefore interest rates may rise.

RTI shield planned for political parties: Political parties are set to get exemption from RTI (Right to Information) scrutiny on the funding and sourcing donors.

Odisha and Bihar shows biggest decrease in poor percentage: According to the survey of 2004-05 and 2011-12, Odisha and Bihar have registered the sharpest decline in poverty levels. Although the proportion of the poor in these states remains well above the national average.

Odisha shows biggest decrease in poor percentage
Odisha shows biggest decrease in poor percentage

Civil nuclear deal: Joe Biden, vice president of India and PM Manmohan Singh has discussed various commercial aspects of civil nuclear agreement between US and India.

Apple records large iPhone sales but lesser profit: Apple Inc’s earnings have fallen from the previous year after a decade of steadily increasing profits percentage. Profit of $6.9 billion was dropped to 22 percent from a year ago.

Tech Mahindra has signed 5 yr deal with UBS fund services: In a 5 year deal of Tech Mahindra with UBS fund services Luxembourg  (UBS FSL), it will provide fully managed services across four major sectors  of data management like securities reference data, pricing, corporate actions and tax data, according to a release.

 Samsung will host its Developer Conference in October: Multinational Company Samsung is reportedly going to host its very own Developer Conference so as to encourage developers away from Apple.

Cisco to buy cyber security company Sourcefire: Cisco Systems, US computer network giant has announced plans to buy cyber security firm Sourcefire in a deal worth $2.7 billion.

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