24.11.2007

• Reliance Petroleum Limited
• Its market cap is bigger than the market cap of all the three public sector majors -- IOC, BPCL and HPCL – though it has no fully functioning operating asset.
• Its 580,000 barrel per day refinery is the 6^th largest in the world and is being built in a special economic zone in Jamnagar.
• Pakistan suspended from Commonwealth
• This is the second time that it is being suspended from the 53 nation grouping.
• It was suspended in 1999 when General Musharraf seized power. It was readmitted in 2004.
• Secretary General of Commonwealth: Don McKinnon.
• Top 1 to hit India
• This is a car race with a difference. Instead of specially built formula one cars, this one is competed with purpose-built normal cars.
• Another such similar contest is NASCAR. Normally a NASCAR event is conducted over an oval-shaped circuit.
• Top 1 structure is currently divided into two categories – Series 1 featuring 2000 cc cars and Series 2 with its 1600 cc line up.
• Diabetes causing genes
• HLA-A and HLA-B are the genes that help the body to fight infection. Their faulty versions lead the immune system to destroy insulin-producing islet cells in the pancreas.
• Type 1 diabetes, also known as juvenile diabetes, is caused by the destruction of cells in the pancreas.
• Something about REITs
• REIT – Real Estate Investment Trusts.
• Typically they pay out at least 90% of their net income as dividends to investors. Rentals from properties owned and managed by these vehicles form a significant portion of their revenue stream. Therefore, their business model is based on investment in income-yielding commercial property such as business parks, office buildings, shopping malls and hotels.
• Indian power sector’s losses
• The official T&D (Transmission & Distribution) losses are at 35%. Compare this with China and Japan! It is 3% in China and 4% in Japan.
• As the demand supply gap is presently at 13%, unless the power supply growth exceeds 14% it would be impossible to support a growth rate of 10% in GDP.
• Estimates of expanding and upgrading electricity transmission and distribution network during 2007-12 put the investment requirement in the range of Rs. 400,000 crores.
• How many states in India have restructured their electricity boards?
• Reportedly 13. The overall impact is reported to be positive.
• Restructuring usually involves separating the functions of the board into transmission, distribution and generation activities by forming dedicated companies for carrying out those activities.
• Impact of spectator sports on a country’s economy?
• England’s failure to qualify for Euro 2008, the premier international football tournament in Europe, is estimated to have set back the UK economy by 1 bn pounds.
• The impact will be especially felt by way of sales in pubs where those fans who could not get tickets would gather to cheer their side over drinks.
• Divestment proceeds to the government
• Since 1991, the government earned about Rs. 51,600 crores through divestment of its stakes in Central Public Sector Enterprises.
• Tea estates and social security
• Ever since the 1951 Plantations Labour Act was enacted, the plantations have to provide for the welfare of the workers working on the plantations. The welfare included housing, medical facilities and education. This is reportedly due to the State not having developed infrastructure and delivery systems at that time in those areas. These social security measures add about Rs. 4 to 5 per kilogram of tea’s cost.
• But now the plantations are demanding and the government has also veered round to the view that the government should bear a portion of this cost.
• India produces about Rs. 6,500 crore worth of tea at factory gate level.