17th Feb Daily Updates

UN adopts resolution to resolve political & security crisis in Yemen

The United Nations Security Council (UNSC) has adopted a unanimous resolution to resolve the political and security crisis in Yemen.

In this regard, Resolution 2201 (2015) was adopted unanimously, at 15 nations UNSC’s emergency meeting.

UNSC in its adopted resolution has asked for immediate and unconditional withdrawal of Shia Houthi rebel forces from Yemen’s government institutions in its capital Sanaa.

It also has sought the release of President Mansour Hadi and his Cabinet from house arrest, and urged Houthi rebels to engage in good faith in U.N.- led peace talks.

Background

The UN resolution comes a day after foreign ministers of Gulf Cooperation Council (GCC) had urged the U.N. to intervene in order to maintain regional security.

The security situation in Yemen deteriorated after the Shia Houthis rebels had seized power by dissolving Yemen’s government and parliament in January 2015 after taking control of key government buildings in capital Sanaa including Presidential Palace.

Amidst security concerns, nine Arab and Western countries have closed their embassies in Yemen and evacuated diplomats. It include’s countries like UAE, Saudi Arabia, the United States, Germany, Britain, France and Italy.

Veteran journalist, cartoonist Rajinder Puri passes away

Veteran journalist, cartoonist and political activist Rajinder Puri has passed away on 15 February 2015 in New Delhi. He was 80.

About Rajinder Puri

Rajinder Puri was born in on 20 September 1934 in Karachi (in undivided India) now in Pakistan.

His distinguished career as journalist and cartoonist spanned for more than six decades.

He drew cartoons for international daily The Statesman in 1956-57. Later he drew cartoons briefly for international newspapers like The Guardian and The Glasgow Herald (1958–59).

He was associated with Hindustan Times from 1959 to 1967. From 1972 to 1977, he was the editor and proprietor of Stir Weekly.

Rajinder Puri was the founding General Secretary of the Janata Party in 1977.

He has authored many books which includes India 1969: a crisis of conscience (1971), India the wasted years: 1969-1975 (1975), Government that works– and how! (1989), Recovery of India (1992), Bull’s Eye (2004).

Union Government imposes Anti-dumping duty on graphite electrodes imports

Union Ministry of Finance has imposed an anti-dumping duty on imports of graphite electrodes used in steel plants for five years. The imposed duty ranges between $278.19 and $922.03 per tonne.

The decision was taken following the recommendations of the Directorate General of Anti-Dumping Duty (DGAD).

Earlier, DGAD had initiated and conducted investigation into dumping, on complaints of domestic manufacturers- HEG and Graphite India

With this move, government aims to protect the domestic industry from below-cost shipments of graphite electrodes.

It should be noted that the graphite electrodes are used in melting of steel.

What is Anti-Dumping Duty?

• It is duty imposed by government on imported products which have prices less than their normal values or domestic price.
• Usually countries initiate anti-dumping probes to check if domestic industry has been hurt because of a surge in below-cost imports.
• Anti-Dumping Duty is imposed under the multilateral WTO regime and vary from product to product and from country to country.
• In India, anti-dumping duty is recommended by the Union Ministry of Commerce, while the Union Finance Ministry imposes it.

    Infosys acquires automation tech firm Panaya for $200 million

India’s software services giant Infosys has announced to acquire to acquire US-based automation technology firm Panaya.

In this regard, Infosys has signed a definitive agreement to fully acquire Panaya for an enterprise value of $200 million (1200 crore rupees) in cash.

Acquisition of Panaya is part of Infosys new strategy to enhance its competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence.

It also the first major acquisition since Vishal Sikka took over as the CEO and MD of the company.

Panaya was founded in 2005 in Israel by its current CEO Doron Gerstel. It has around 50 employees and its clients include Coca-Cola, Mercedes-Benz, Bosch, Whirlpool, GSK and Siemen .

Panaya is the Infosy’s second largest acquisition after it had acquired Zurich-based consulting company in 2012 for around $350 million.

    Former home minister of Maharashtra RR Patil passes away

    Former Home Minister of Maharashtra, Raosaheb Ramrao Patilhas passed away in Mumbai. He was 57 years old and was suffering from oral cancer.

*Punit Renjen appointed as CEO of Deloitte’s global operations

*HTC appoints Faisal Siddiqui as new South Asia chief