Event Diary – 4th September 2013, Wednesday

India-Abu Dhabi air services agreement approved by Cabinet

After a long controversial issue on India-Abu Dhabi air services agreement, Cabinet has approved the agreement. Under this Air-services agreement, India-Abu Dhabi will enable their airlines to fly more than 50,000 seats each week, up from the current 13,700.Beneath this bilateral agreement, an additional 11,000 seats per week would be added to the existing 13,700 this year another 12,800 seats per week would be added in 2014 and 12,870 more in 2015.
Several MP’s from various parties had objected to this huge enhancement in bilateral air-traffic agreements following the signing of the Rs. 2,058 crore Jet-Etihad deals under which the latter would pick a 24 per cent equity stake in Jet Airways.
Microsoft immersed Nokia’s handset business with deal of $7.2 billion

The once giant mobile handset company Nokia had fallen into the lap of American IT giant Microsoft. This big deal goes with the prices tag of $7.17 billion.This announcement made by Nokia’s headquarters in Helsinki.
In this big deal, Microsoft will pay Euro 3.79 billion to purchase substantially all of Nokia’s device and service business and Euro 1.65 billion to license Nokia’s patents for a total transaction price of Euro 5.44 billion in cash.
It has been also released that Microsoft would also get long-term patent licensing agreement with Qualcomm.
Over NSA spying, Dilma may cancel the visit to White House

Defile from the revelations about her phone calls, text messages, emails etc. by the US National Security Agency (NSA), Brazilian president Dilma Rousseff is seriously considering the possibility of cancelling her official visit to Washington in October.  She is feeling cheated by the US Govt. and she will not move to this visit until President Barack Obama give “convincing answers” about NSA’s activities in Brazil.
Rupee collapses 92paise to 68.55 per dollar

Indian Rupee again breached the record and set to 68.55 against dollar. This time rupee collapses by 92 paise against the dollar strength.   Rupee fell mainly on strong demand from the American currency from importers and some banks. According to the dealers concerns over a record high current account shortage and rising crude prices in the global market were other factors behind rupees slide.
TCS bags multi-million euro deal from financial giant DNB

A big software services firm TCS said that it has bagged the deal of multi-million euro from Norwegian firm DNB. Under this service agreement, TCS will handle delivery of application maintenance and development services across DNB’s IT portfolio, spanning channels, core-banking and master data areas respectively. DNB is Norway’s largest financial services group with 32 per cent market share in the retail market in Norway
This transformation process will lead to increase stability in IT operations, high degree of efficiency and easy access to competencies across IT sector.
US hospital offers treatment for internet addicts

A psychiatric hospital at Pennsylvania is offering the unique state facility in which a treatment program is being provided for internet addicts. This is America’s hospital first ever state facility to treat an inpatient treatment program for internet addicts. The program is a 10 day process which will initiate from sept.9 has been organized by experts in the field of psychiatry and cognitive specialists who have treated familiar addictions like drug and alcohol abuse.




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