Saturday 24 November 2012

Daily News - 24 Nov

Australia approved the plan to save the Murray-Darling Basin
Australia on 22 November 2012 approved the plan to save the Murray-Darling Basin, an ailing river system. As per the plan, the sum total of five Sydney Harbour’s worth of water to the network every year.  Murray-Darling Basin river system is vital to the Australia’s food bowl. This river network is sprawling across five Australian states and covering the area of one million square kilometers. Two million tonnes of salt will also be flushed out each year under the plan.
The concerned river system affects the livelihood of millions of people, but due to overexploitation it is ailing now. It suffers from increased salt concentrations as well as depletion in its amount of water because of draught.

 
Scientists decoded how flu viruses replicate within Infected Cells
Scientists  in the fourth week of November 2012 decoded how flu viruses replicate within infected cells, which could be used in the development of potent vaccines. The study done by the scientists explained the flu virus replication machinery.
Scientists used advance molecular biology and electron-microscopy techniques to see one of influenza's essential protein complexes in detail. They focused on influenza’s ribonucleoprotein (RNP). RNPs contained the genetic material of virus and the special enzyme that is required by the virus to replicate itself.
Any influenza virus contains eight RNPs in its core. RNPs are important to the virus’s ability to survive and spread in its hosts. Each RNP contains a single protein which is the coding gene of the RNA-based viral genome. The viral RNA segment is coated with protective viral nucleoproteins and its structure resembles a twisted loop of chain. The free ends of this twisted loop are held by a flu-virus polymerase enzyme, which is entrusted with two important tasks of viral reproduction-1) making new viral genomic RNA  2)making the RNA gene-transcripts that will develop into new viral proteins. It would be interesting to know how the flu polymerase and the rest of the RNP interact. The only flu RNPs reproduced in the laboratory, were shortened versions whose structures didn’t match those of native flu RNPs. Still, Scientists developed a test-cell expression system which produced all of the protein and RNA components required to make full-length flu RNPs. The discovery enabled Scientists to analyse molecular samples more easily.

Costal Chain of Static Sensors Positioned along the Coast of Andhra Pradesh
A coastal chain of static sensors positioned along the coast of Andhra Pradesh was inaugurated by Ministry of Defence in a ceremony held at Coast Guard District Headquarters in Visakhapatnam on 23 November 2012. The event signified the operationalisation of the network on the East coast.
A complete surveillance mechanism along the coast was needed post 26/11 incident. A chain of static sensors were planned to monitor the high sensitive traffic density areas along the coast of India. The coastal surveillance network will provide an integrated picture of all the vessels traversing along the coast. As part of this project, a chain of radar stations along the coast line of Andhra Pradesh were installed by the Ministry of Defence. The Chain of Static Sensors project being steered by the Indian Coast Guard, envisages fitment of high end surveillance gadgets on lighthouses and masts at various locations.

Joaquim Barbosa sworn-in as Brazil’s Supreme Court’s First non-White President
Joaquim Barbosa was sworn-in as Brazil's Supreme Court's first non-White President on 23 November 2012 at a packed ceremony in the capital Brazilia. Barbosa became famous in Brazil after overseeing one of the country's biggest corruption trials involving key members of the former President Lula Da Silva's government.Barbosa is famous for his tough stand against political corruption. Brazil has the second largest non-White population in the world after Nigeria, but few of them achieve high office.

Union Coal Ministry decided to deallocate Four Coal Blocks allotted to 15 Firms
The Union Coal Ministry  in the fourth week of November 2012 decided to deallocate four coal blocks allotted to 15 firms, including JSW Steel and Bhushan Steel and Strips.  The four coal blocks are as following:- Gourangdih ABC coal block in West Bengal, New Patrapara coal block in Orissa, the Lalgarh coal block in Jharkhand and north Dhadu coal bloack. The ministry also asked the Monnet Ispat to deposit a bank guarantee of 62 crore rupees.
The Gourangdih ABC coal block in West Bengal was allotted to Himachal EMTA Power Ltd and JSW Steel Ltd. The Coal Ministry in its letter to the company stated that it has decided to forfeit 50 per cent of the Bank Guarantee related to the development of coal block as per the recommendation of Inter-Ministerial Group. The Ministry also decided to deallocate New Patrapara coal block in Orissa and to return the full bank guarantee amount without any deduction.The Coal Ministry in another letter to Monnet Ispat said that the Bank Guarantee as calculated by Coal Controller is to be deposited by the allottee company within one month from the date of letter failing which the block may be deallocated.
In case of Domco Smokeless Fuels, the Ministry decided to deallocate the Lalgarh (North) coal block in Jharkhand. With regard to North Dhadu coal block jointly allocated to four firms, the Ministry has decided to deallocate the North Dhadu coal block in addition to the forfeiture of full bank guarantee.

Portman Holdings Invested 65 Crore Rupees in Tata Housing Project
U.S.-based Portman Holdings invested 65 crore Rupees in Tata Housing luxury housing project based in Bangalore on 22 November 2012. Private equity funding is done for the first time for the Tata Housing project. Tata Housing raised equity valued 240 crore Rupees in The Promont, from the Atlanta-based Portman Holdings, the vertically integrated realty company. Portman Holdings recognised the sustained growth as well as long-term opportunity in Indian housing segment. Investment of the company represented heavy endorsement for The Promont in Bangalore as the project.

Portman Holdings
Portman Holdings is the real estate development, management and investment company based in Atlanta. In the transaction where Portman Holdings invested a huge amount in Tata Housing, Yes Bank was its financial advisor. Portman Holdings raised as well as deployed 6 billion Dollars. It developed more than 50 million square feet of first-class realty across the world. In India, the company has invested in 3 million square feet property as of now. 

Rating Agency Fitch downgraded the Debt Rating of Sony Corp. and Panasonic Corp.
Fitch, the rating agency in 3rd week of November 2012 downgraded the debt rating of
Japan’s Sony Corp and Panasonic Corp to Junk status. The ranking of the two corporations were downgraded because of the weakness measured in their TV Operations and Consumer Electronics and the low demand that these brands suffered due to the tough competition faced by the competing brands Apple Inc. and Samsung. Sony Corp. and Panasonic Corp. together suffered a major loss of 20 billion dollar in 2011 due to which both the firms managed to cut jobs, sold their assets and closed many facilities round the globe. The recent protests in China against Japan and the Japanese products also was a reason for this lack in demand. Sony was downgraded from BBB- minus to BB- minus, which was degradation of three notches from its previous position, by Fitch. Whereas, Panasonic was downgraded from BBB-minus to BB status, that was two notches below the previous ranking.

Rating from Other Agencies
The other two rating agencies, the Moody's Investors Service has rated both these electronic majors in the status of Baa3, this is the lowest of the high-grade category and the Standard & Poor's has rated both the electronic making companies at BBB status, which is the-second lowest of the investment grade. The ranked status would diminish the shine of the world-acknowledged Japanese Brand.

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