Wal-Mart Sets up New Company in India

New Delhi: Global retail giant Wal-Mart has registered a new company in India as it prepares to enter the country’s lucrative multi-brand retail market with a new partner.

The retailer has registered a new company called Wal-Mart India Pvt. Ltd. in the country, according to the data available with the ministry of corporate affairs.

According to the information, the new entity was registered on 15 January 2014.
                                                   

         
After parting ways with Bharti group in October last year, Wal-Mart Sets had said it was studying the feasibility of India’s foreign direct investment (FDI) policy in multi-brand retail before finalising plans to enter the segment.

The retailer and Bharti Enterprises had last year decided to independently own and operate separate business formats in the country. Wal-Mart is looking for a partner in India.

In December 2013, Wal-Mart received the green signal from the Competition Commission of India (CCI) to purchase Bharti group’s almost 50% stake in their Indian joint venture for wholesale stores business.

The joint venture—Bharti Wal-Mart Pvt. Ltd.—was set up to operate wholesale stores under the Best Price Modern Wholesale brand. It was not catering directly to retail consumers in the country.

Korea Eximbank Signs MoU With IIFCL

The Export-Import Bank of Korea (K-EXIM) and India Infrastructure Finance Company Ltd (IIFCL) have signed a memorandum of understanding (MoU) to strengthen co-operation in infrastructure financing.

This MoU provides for exchange of information about the possible infrastructure projects in India and would help invite Korean investments in identified projects in the infrastructure space, S.B. Nayar, Chairman & Managing Director of IIFCL, told Business Line after the MoU signing ceremony.  
                                                     

Kim Yong-hwan, Chairman & President, K-EXIM, and Nayar exchanged this MoU in the capital today during the occasion of Korean President Park Guen-Hye’s state visit to India.

The MoU covers cooperation in project finance in infrastructure projects, investment finance in infrastructure projects and other finance areas of mutual interest.

Speaking on the occasion, Nayar said that there is good demand for quality infrastructure in the country.

“People are now willing to pay for infrastructure,’’ Nayar said.

As the demand for infrastructure development increases due to the ongoing economic growth of India, the need for bilateral cooperation in the infrastructure sector is growing rapidly.  

K-EXIM, which is South Korea's official export credit agency, provides export financing, guarantees and other forms of credit services to facilitate trade and overseas investment of Korean companies.

RoB open to Public After Decade Long Wait

Kollam: More than a decade after the foundation stone was laid, the Railway Overbridge at the Commissioner Office junction here will finally be open to the public on January 20. However, proper traffic maneuvering systems including a junction and signaling systems that ensure safety are yet to be put in place.

The spot at which the overbridge meets with the National Highway requires a traffic circle, directing vehicles from the SN College junction towards Chinnakkada and a U-turn facility for the vehicles that come out from the overbridge and go towards Chinnakkada.
                                           

“In order to set up a permanent traffic controlling system, the average flow of traffic through the area should be calculated. The Traffic Police is in charge of the signaling system and they are still to conduct a study on this.

Meanwhile, a temporary arrangement for a median will be implemented before the dividers are planned based on the flow of traffic,” said D N Rajeev, Executive Engineer, PWD.click here for more information about RoB open to Public A traffic signaling system is planned near the C Ashokan Town Hall, taking into account the traffic coming from SN College and Thiruvananthapuram side.

But for the time being, the Traffic Police have planned to control the vehicles manually, in view of the huge rush of pedestrians during office times.

The PWD has acquired around 42 cents from the Corporation to construct a junction and the approach road and around 71 cents of land for the construction of a road connecting the overbridge and the four land road to the Kollam Port, at Kochuplamoodu junction.

Jimmy Walker Wins PGA Tour Event in Hawaii

HONOLULU – Jimmy Walker, an astronomy fanatic and now a two-time winner on the PGA Tour, gazed through a glass window across the room to a television that showed his most recent photo of Orion’s Sword.

Walker toiled on the PGA Tour for seven years and 187 tournaments without winning. But it appears the stars have aligned for him.That certainly was the case Sunday in the Sony Open.
                                                     

Walker trailed Kirk by two shots after three rounds, and overtook him on the front nine of the final round.  Both players finished strong with Kirk birdieing three of his last four holes, and Walker Wins PGA  birdieing four of his last six.

After a round of 63 at Waialae Country Club in Honolulu he finished one shot ahead of the field to take the Sony Open title and secure an early birthday present ahead of turning 35 on Thursday.

Jerry Kelly was also in the mix on Sunday shooting a five-under 65.  Kelly finished solo third at 15-under par.

Harris English continues to play well shooting a three-under 67 in the final round to finish solo fourth.  English remains third on the FedEx Cup points list.

Marc Leishman rounded out the top-five with a final round 65, and a 13-under total.

12 players finished tied for eighth including Adam Scott, Matt Kuchar, Zach Johnson, and Retief Goosen.

Anju Bobby Geroge's Nine-Year Wait Ends With Gold

Long jumper Anju Bobby George on Tuesday expressed happiness after her second place finish at the 2005 Monaco World Athletics Final was upgraded to a gold medal, saying the frustrating time she endured for last nine years was worth the wait.

Anju became the first Indian track and field athlete to win a gold medal in a major world event after international governing body IAAF upgraded her second place finish at the 2005 Monaco World Athletics Final to the top spot, following a dope violation by a Russian competitor Tatyana Kotova.
                                                     

"I have been told by the AFI that I will get the gold in the Monaco World Athletics Finals.click here for more information about Anju Bobby Geroge's I am really happy and the wait was worth it," she said."I had always some doubt about some of the top Russian women long jumpers of my time and I knew that they could have been in dope," she said.

Russian Tatyana Kotova was found last year to have been caught for doping after her samples collected during the 2005 World Athletics Championships in Helsinki was found to contain traces of banned substance.

The IAAF had re-analysed samples of the 2005 World Athletics Championships apparently in line with Internationally Olympic Committee's decision to retest eight-year old samples, dating back to 2004 Athens Olympics in order to deter dope cheats.

The 2005 Monaco World Athletics Finals (September 9-10), competed by top eight athletes of that time, was held a few weeks after the 2005 World Athletics Championships (August 6-14) in Helsinki, and hence Kotova's result in the latter event has now been deleted from the record books.

The Athletics Federation of India is yet to receive the official communication from the IAAF though the world body's website has updated the results of the 2005 World Athletics Final in Monaco with Anju is now being listed as the gold medal winner with an effort of 6.75m.

4 Projects Set to Change Sabarimala Next Season

Kochi: This Sabarimala pilgrimage season, which is at its fag end, saw an unprecedented rush of devotees that forced the cops to resort to extreme crowd control measures like lathicharge. Each season records a 20 to 30 per cent increase in pilgrim arrivals but the infrastructure build up is taken up at a slow pace.

However, Devaswom Minister V.S.Sivakumar and other high officials said that four major projects would be ready next year which would ensure that all basic amenities were provided to devotees.
“The main issue we’re facing is the lack of sufficient space for development.
                                                 

Hence, we’ve decided to start development projects worth Rs 136 cr immediately after this season ends. As a first step we’ll build queue complexes along the entire stretch from Marakootam to Sannidhanam. Also on Makaravilakku Day on January 14, the stone for a Rs 23 cr sewage treatment plant at Sannidanam will be laid and it will be operational by the next season,” said Minister V.S.Sivakumar.

The high-power committee constituted for implementing the development projects has given priority to four big projects that would be executed on a war footing click here for more information about Sabarimala Next Season .

“Apart from the sewage treatment plant, priority will be for constructing another floor for the Valiyanadapandal on the lines of Tirupati temple so as to enable 12,000 pilgrims lay ‘viri’. A new appam and aravana plant would be set up next season for which we’ve found a sponsor.

The ropeway project and the Kunnar water project are also among the top priorities. For the latter, which is to bring water to Sannidhanam from the Kunnar dam, we’ll try to get environmental clearance this year”, said K.Jayakumar, chief coordinator.

Union Cabinet Clears Youth Policy 2014

New Delhi: Government on Thursday adopted a new policy to empower youth to participate in priority areas of education, skill development and entrepreneurship, besides participation in politic

The Union Cabinet, at its meeting here, gave its nod to a new National Youth Policy (NYP-2014) which would replace NYP- 2003 that is currently in force, Information and Broadcasting Minister Manish Tewari told reporters.
                                         

     
The policy takes into account the fact that the youth in India, aged between 15-29 years, constitutes 27.5 per cent of the population or about 33 crore persons, making the country one of the youngest in the world.

NYP-2014 identifies five well-defined objectives and 11 priority areas and suggests policy interventions in each of these areas, which include education, skill development and employment, entrepreneurship, health and healthy lifestyle, sports, promotion of social values, community engagement, participation in politics and governance, youth engagement, inclusion and social justice.

Aiming at empowering the youth to achieve their full potential, the NYP-2014 proposes broad policy interventions consistent with the 12th Plan priorities.

It, however, does not propose any specific programme or scheme having financial implications but all ministries and departments would be asked to bring to focus on youth issues within the framework of their plans, programmes and schemes.