14.08.2007

• Is the big bad retail smothering the small mom and pop stores?
• No, says a recent Nielsen Retail Store Census conducted across 15 cities.
• Independent, family run stores and chemists still account for over 95% of the $300 bn retail sales in the country.
• Know something about Ray Charles?
• He is widely considered as the inventor of soul music.
• He became blind when he was 5 years old. He composed music in Braille. He went on to win 12 Grammies and is best remembered for smash hits like “Hit The Road Jack” and “Georgia On My Mind”.
• He died in 2004. Watch “Hit The Road Jack” below:

• Policy relating to airlines flying to international destinations
• At present airlines flying abroad have to maintain a fleet of 20 aircraft. They are also required to have 5 years experience of providing continuous air service in the domestic market.
• Provisions relating to tea garden workers. See how targeted PDS hits the profit margins of tea companies
• Tea garden owners are required to provide 32.25 kg of foodgrains to a worker on monthly basis.
• Till recently owners are allowed to buy this through the PDS (Public Distribution System)
• The new targeted PDS allows owners to buy only 7 kg of foodgrains from the PDS and the remaining has to be sourced from the open market.
• This raises production costs for the tea companies and will hit their profitability.
• Dual support price for sugar cane to go
• At present sugar cane is one commodity which has dual support price. The Centre announces the SMP – Statutory Minimum Price. Some states like UP, Bihar, Karnataka, TN, Haryana and Punjab announce a SAP – State Advisory Price.
• T. Haque, the Chairman of the Commission for Agricultural Costs and Prices is in favour of giving only one support price for sugar cane. The Commission advices the government on the pricing of major agricultural commodities, including sugar cane.
• What is Article 153-A of the Indian Penal Code and why is it in the news?
• The Article speaks of punishment for promoting enmity between different groups on grounds of religion, race, place of birth, residence, language, etc., and doing acts prejudicial to maintenance of harmony.
• This article is being misused by the self-styled guardians of religious and cultural morality to muzzle dissent. Remember the case against Taslima Nusreen that is promptly booked by Police following the complaint against her by MIM activists? This article should actually be only used to deter direct incitement of violence. But it is being abused against people like Taslima Nusreen.
• What is the Sodhani Committee report about?
• The Expert Group on Foreign Exchange Markets in India, headed by the then Executive Director of RBI, Mr. O.P. Sodhani, submitted its Report to the RBI in June 1995.
• The Report is widely regarded as an enlightened blue-print for the development of the Indian Foreign Exchange Market.
• Among many of its suggestions was the one relating to permitting market participants to go short on government securities.
• One more example that can be cited about the fundamental strength of the Indian economy
• A recent BCG (Boston Consulting Group) study has found that of the 40% total shareholder return delivered by the top 200 Indian companies, 17% is contributed by sales growth during the period 2001-06.
• This is a strong validation of the premise that the Indian economy’s growth story is not a flash in the pan.
• What is a bridge loan?
• It is certainly not the name given to loans given for constructing bridges.
• It is a short term loan used for temporary financing, until the main permanent financing is secured. Usually such loans carry a higher rate of interest than conventional long term loans.
• But there is nothing to stop you from availing a bridge loans when your project itself is constructing a bridge.
• Was Calculus known before Newton in India?
• Calculus is a branch of mathematics that includes the study of limits, derivatives, integrals, and infinite series, and constitutes a major part of modern university education. Calculus has widespread applications in science and engineering and is used to solve complex and expansive problems for which algebra alone is insufficient. It builds on analytic geometry and mathematical analysis and includes two major branches, differential calculus and integral calculus, that are related by the fundamental theorem of calculus.
• Calculus’ infinite series was known in India during 14^th and 16^th centuries; much before Newton’s work in the late 17^th century.
• Madhava and Nilakantha of Kerala School were credited with the discovery of infinite series, a component of Calculus during this time.
• Golf
• Tiger Woods captures his 13^th major title – the Wanamaker Trophy.
• He is now only 5 titles short of 18, the world record held by Jack Nicklaus.
• Tennis – Rogers Cup
• Serbia’s Novak Djokovic defeated Roger Federer in the finals of the Montreal Masters.
• In the same tournament, India’s Mahesh Bhupati teamed up with Pavel Vizner (Czechoslovakia) to win the men’s doubles.
• Cricket
• India won the series against England in test cricket. In the process it lifted the Pataudi trophy after a long gap.