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2 July 2012 Current Affairs

Pawar Quits as Tele – GOM
Within days os his appointments,Agriculture Mnister sharad pawar on 2 July 2012 recused himself from heading the Empowered group of Minister(EGOM) on telecom.The Agriculture minister was named the head of the EGOM that was to decide on the pricing and auction of telecom spectrum after pranab mukharjee quit as Finance Minister to contest Presidential elections.”Attempts have been made in the past to unneccessarily drag me in the controversy on 2G spectrum.These allegations are false and and ill -motivated which one have firmly refuted, “MR.Powar said in his letter to PM,”As such one thoughts it will be appropriate for me to recuse myself from the position of chairman of EGOM”Mr Powar added.

Zebra Fish Research Facility Opened at CCMB
A state of the art research facility on zebrafish, an important animal model to study modern biology and human diseases, was inaugurated at the center for cellular and Molecular Biology(CCMB).The genome of Zebrafish was similar to the genome of humans and this has prompted CCMB to deal exclusively with their ti investigate development biology invertebrates.

Exports down 4.16% in May
In an sign of depending of economics crisis and global slowdown impacting overseas shipments especially to the US.and European markets, India’s exports have taken plunge, registering a drop of 4.16% at 25.68billion in May when compared with the year ago period.

ICIC Bank Sells Its Debt In Kingfisher to Srei Arm
ICIC Bank sold its entire debt of Rs. 430crore in the crisis -ridden Kingfisher to Srei venture capital Ltd,a group company of srei infrastructure Finance Ltd. Kinfisher airlines owned by liquor baron vijay Mallaya was launched in 2005 and has not reported profits since.The airlines has a total debt of a round Rs.7500crore.Banks which had given loans to kingfisher Airlines include SBI(Rs.1400 crore),PNB(around 700 crore), Bank of Baroda (around Rs.500Crore) and ICICI bank(around Rs.450 crore).

GSK to pay $3b For Health Fraud
Glaxo smith kline(GSK) would pay $3 billion and plead guilty to promoting two popular drugs for unapproved uses and to failing to report important safety data about a diabetes drug to the Food and Drug Administration, the justice department said on 2 July 2012. Government officials say it’s the largest health care fraud settlement in U.S history.

Barclays Chairman Quits over LIBOR row
Barclays bank, on 2 July, said its chairman Marcus Agius had resigned  following the bank being slapped with 290 million pound ($451million)fine by the U.S and the U.K authorities to settle the charges of manipulating global benchmark lending rates.

Spain Won “UEFA Euro Cup FootBall Championship 2012″
Spain beat Italy 4-0 in the final to win UEFA (Union of European football Associations) Euro cup Football championship 2012 at the Olympic stadium in kiev, Ukraine , on 1July 2012. Spain has set up a record by becoming the first team to claim two consecutive titles in tournaments 52-year long histiry  Iker casillas was the captain of spain team.The four goals hit by David Silva, Jordi Alba, fermando Torres and Jvan Mata led the spain team to a remarkable victory. Spain midfielder andres Inierta of spain was declared as the mass of the match given the golden boot as he scored three goals in the spain’s title winning campaign.Torres also became to score in two separate European championship finals.

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