Google received a record €4.3 billion ($5 billion) anti-trust fine from the European Union (EU) and was ordered to change the way it puts search and web browser apps on Android mobile devices.
The penalty�" the same amount the Netherlands contributes to the EU budget every year�"is far higher than any other dished out by the US, Chinese or other antitrust authorities.
China trying to build an economic corridor to Myanmar
China and Myanmar are close to signing a deal on the establishment of a China-Myanmar Economic Corridor along the lines of the China-Pakistan Economic Corridor (CPEC). Once launched, the project will unleash a massive inflow of Chinese funds to Myanmar which can further weaken Indian influence over its eastern neighbour. The move will be based on a previous broad agreement on building basic infrastructure, enhancing telecommunication facilities and improving transport and agriculture in Myanmar.
The planned corridor would connect the Chinese province of Yunnan and three important economic centres in Myanmar. The corridor will also connect Yangon and the troubled state of Rakhine.
Policy to Fix Carbon Dioxide Emission Norms for Aircrafts
The Directorate General of Civil Aviation (DGCA) has drafted a policy to fix carbon dioxide emission norms and test procedure for aircraft. All jet aeroplanes having a maximum take-off weight above 5,700 kg and all propeller-driven aircraft having a maximum take-off weight above 8,618 kg would have to comply with emission norms.
Amphibious aircraft or those designed or modified for special operational requirements, including fire-fighting, are exempted.
Different emission standards have been set for various categories of aircraft depending on their weight, speed, payload, operating altitude, atmospheric conditions, engine power, and type of fuel used.
Emission certificate for pre-flight as well as in-flight configuration will be granted or validated by the DGCA.
New Classification of Earth's Age
Scientists have announced a new classification of earth's age calling the one we are in currently the Meghalaya age that began 4,200 years ago. The latest chapter, Meghalayan is marked by specific chemical signatures in stalagmites. The strongest such feature was found in Mawmluh Cave in Meghalaya. This change happened at the onset of a mega-drought that crushed a number of civilisations worldwide.
The demarcation is significant for multiple reasons. It is the first formal geological sub-division of the Holocene epoch that began 11,600 years ago and extends to the present into three ages: Greenlandian, Northgrippian, and Meghalayan.
Jana Small Finance Bank announced the commercial launch of its banking operations, the last microfinance company to convert itself into a small finance bank (SFB), three years after the Reserve Bank of India (RBI) gave its in-principle approval.
The Bengaluru-based small finance bank, which was earlier called Janalakshmi Financial Services and weathered huge losses on account of demonetization, said it is confident of turning profitable before the end of fiscal year 2019.
Jana was the worst affected during demonetization when it saw its asset quality slip, leading to capital erosion. Rating agency Crisil had recently downgraded its ratings on the bank loan facilities and debt instruments of Janalakshmi Financial Services because of losses made by the company as a result of lower disbursement and weak collection efficiency.
Pepsi, Mondelez Cut Salt/Sugar Content
Mondelez International, which makes Cadbury chocolates, and PepsiCo India are responding to changing consumer preferences by cutting salt, fat and sugar.PepsiCo India has cut salt content by 13% in Lay's India's Magic Masala variant and 15% in the Spanish Tomato Tango variant, the company said. PepsiCo India introduced a healthier 'multi-grain' variant of Kurkure in April this year with 21% less salt content.
Mondelez India, which sells Cadbury Dairy Milk, 5 Star and Perk chocolates, said it is planning to cut sugar content in its offerings.
Both Mondelez and PepsiCo recently signed up for food regulator Food Safety and Standards Authority of India's Eat Right Movement, along with 12 other firms including ITC Ltd, Hindustan Unilever Ltd, Nestle India Ltd and Patanjali Ayurved Ltd. They have pledged to cut sugar, salt and fat content and launch healthy products over a period of three to seven years.
Standard Life, HDFC to cut stake in MF arm
HDFC and Standard Life Investment, the joint venture partners in the IPObound HDFC Mutual Fund, will witness a substantial change in their shareholding pattern in three years after the listing of the fund house.To comply with the regulatory requirement of 25% public shareholding in listed entities within three years after IPO, HDFC and Standard Life both will sell their stakes in the MF in tranches.
The final holding structure in the fund house would see HDFC holding slightly more than 50% in the country's second-largest fund house by assets under management, with Standard Life holding slightly less than 25%, while the balance 25% will be with the public.
Australian researchers have developed a blood test for melanoma in its early stages, making it the world first breakthrough that could save many lives. The test could help the doctors detect skin cancer before it spreads through a person's body. Melanoma is currently detected using a visual scan.
Gene-edited babies may be morally permissible
The use of gene editing technologies to alter the DNA of human embryos could be morally permissible as long as the science and its impact on society is carefully considered, a British ethics panel said.Genome editing techniques enable the deliberate alteration of a targeted DNA sequence in a living cell. They could in theory be used in assisted human reproduction to edit the DNA of an embryo before it is transferred to the womb.
British law bans this at the moment, but Nuffield panel of experts said it could, in time, become available as an option for parents wanting to influence the genetic characteristics of their future child.
India skipper Virat Kohli held on to his No.1 spot in the International Cricket Council (ICC) ODI player rankings for batsmen, but England Test skipper Joe Root vaulted to No.2 after scoring 216 in England's 2-1 triumph over India. Kohli scored 75, 45 and 71 to total 191 runs at an average of 63.66. That not only helped him hold on to the top spot, but also gave him his career-best rating points: 911. England leg-spinner Rashid remained eighth but Kuldeep Yadav soared eight spots to No 6 after a good series.
Neeraj Chopra Wins Gold at France Meet
Commonwealth Games javelin throw champion Neeraj Chopra gave a good account of himself at the annual international meet in the French city of Sotteville, winning gold with a throw of 85.17 metres.
Chopra's season best and national record is 87.43m set during the Doha Diamond League in May.
The 4-year old NDA government led by PM Narendra Modi will face its first motion of no-confidence after Lok Sabha Speaker Sumitra Mahajan admitted a notice moved by the Telugu Desam Party. Eight notices of no-confidence in the Council of Ministers were received as the monsoon session of the Parliament commenced. The Speaker allowed TDP MP Kesineni Srinivas' notice given to protest denial of a special package for Andhra Pradesh. She said, Srinivas' notice was the "first in point of time".
Amendment to the Right to Education Act
The Lok Sabha witnessed a rare bonhomie between ruling and Opposition benches, as the House unanimously passed an amendment to the Right to Education Act. The amendment aims to do away with the "no-detention policy" that prohibits schools from detaining students till they complete elementary education. The amendment once passed by Rajya Sabha too, will allow states to hold a regular examination at the end of Classes V and VIII.
CBSE Considers using Encrypted Question Papers
The Central Board of Secondary Education (CBSE) is considering using encrypted question papers for classes X and XII examinations, and passing on the task of printing them to schools from next year. The move is being currently tested as a pilot project in the ongoing compartmental examinations. The CBSE is also planning to provide logistical support to examination centres that lack adequate printing and xerox machines. The printing cost will be borne by the CBSE.
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