Rafael Nadal of Spain defeated Canada's Milos Raonic in the final of the men's Rogers Cup in August 2013 in Montreal, Canada. This is the Nadal’s third Rogers Cup title. He was also won Rogers cup in 2005 and 2008.
His success on clay has earned him the nickname "King of Clay" and has led many sports journalists and commentators, as well as former and current players, to regard him as the greatest clay court player in history. Nadal has won 12 Grand Slam singles titles, the 2008 Olympic gold medal in singles, a record 25 ATP World Tour Masters 1000 and a record 14 ATP World Tour 500 tournaments.
The Government of India approved the proposal for setting up of the TARC (Tax Administration Reform Commission) to remove ambiguity and establish a stable and non-adversarial tax administration.
The Commission will consist of a Chairman, two full time members and four part-time members, of which at least two part-time members will be from the private sector.
The Commission will review the application of tax policies and tax laws in India in the context of global best practices and recommend measures to strengthen the capacity of the tax system in India that would reflect best global practices.
Usain Bolt of Jamaica won the 200-metre sprint at the World Athletics Championships in Moscow on 17 August 2013. This was his third successive 200 meter world title. This was Bolt's seventh world title, and surely one of the easiest of the lot.
He is widely regarded as the fastest person ever. He is the first man to hold both the 100 metres and 200 metres world records since fully automatic time measurements became mandatory in 1977. Along with his teammates, he also set the world record in the 4×100 metres relay. He is the reigning Olympic champion in these three events, the first man to win six Olympic gold medals in sprinting, and a six-time World champion. He was the first to achieve a "double double" by winning 100 m and 200 m titles at consecutive Olympics (2008 and 2012).
Q: What is NSEL?
ANS:- NSEL is a national level, institutionalized, electronic and transparent spot market commonly called as national spot exchange limited. It is a structured delivery based market place providing hedging for risk free and hassle free purchase and sell of various commodities across the country. This market is used by the investors to save the cost of indermediation and thus improving the returns and efficiency.
Q:- What is the NSEL turmoil in today’s economy ?
ANS:- For higher returns many HNI’s institutions and PSU’s has put their money in a strange product in NSEL. Now they fear the money has been stuck. Actually here the investor puts money for 25-30 days on a return higher than 14-15%. Since the transaction happened on a spot exchange both borrowers and lenders enter into a contract initially for 3 days where lender will give money to borrower and gets a receipt of commodity warehouse and again on the 26th day where the borrower will pay the pre agreed money and will get back his collateral.
Now after that both the two side roll their positions by entering a new contract almost similar to the previous one. The problem started in July when the government asked NSEL not to issue any contract. This brought all trades to get stopped and the money got stucked. Although it was a warning in the previous year but the exchange was into a denial mode.
Q:- Non Repayment of Money ?
ANS:- Its all because the money has also been parked into non liquid assets like real estate and all which can not be monetized immediately and their return is also lower than the returns/receipts claimed. The fear is there are so many big investors/Institutions (Almost 13000) that they can go after the brokers. The borrowers are almost 30. Only 150 Cr has been paid against a liability of 5500 Cr.
Now its a government call to put the investors and borrowers into a fix and find a way to get the borrowers an adequate time to pay back the investors their money.
Robert Mugabe of Zimbabwe sworn in for his seventh term as the President of the country. Mugabe of Zimbabwe African National Union-Patriotic Front (Zanu-PF) party won the Presidential election (Parliamentary Election) by winning 61 percent votes in his favor on 3 August 2013.
Robert Mugabe is one of the leaders of the guerrilla movements against white-minority rule of Zimbabwe and was elected to power in 1980. He served as Prime Minister from 1980 to 1987 and as the first executive head of state since 1987. Mugabe was a political prisoner in Rhodesia for more than 10 years from 1964 and 1974.
Lok Sabha passed the National Food Security Bill 2013. The Bill was adopted by the House through a voice vote after a day-long debate. The Bill seeks to give legal rights to get subsidized grains every month to 67 percent of the overall population of which 75 percent is rural and 50 percent is urban population.
As per the provisions of the Bill, the responsibility to identify the beneficiaries and implement the program under the Targeted Public Distribution Scheme is the responsibility of the states. The passage of the Bill in Parliament will guarantee 5 kilograms of rice, wheat and coarse cereals per month per person at the highly subsidised rates of 1-3 rupees a Kg.
Justice K.N Basha,
retired judge of the Madras High Court, took charge as the chairman of the Intellectual Property Appellate Tribunal . He was appointed by the Director of the Department of Industrial Policy And Promotion of The Union Ministry of Industry And Commerce.
Intellectual Property Appellate Board (IPAB) was constituted by the Union Government in the Ministry of Commerce and Industry in 2003 to hear appeals against the decisions of the Registrar under the Trade Marks Act, 1999 and the Geographical Indications of Goods (Registration and Protection) Act, 1999.
The Intellectual Property Appellate Board has its headquarters at Chennai and holds sitting benches at Chennai, Mumbai, Delhi, Kolkata and Ahmedabad.
