| |  | 14-Mar-13 |
|  | WHAT'S NEW @ TESTFunda!! | | | | | March is TestFunda Engineers' Month | | Only 15 days left for availing waiver of upto 70%. Lots of action going on and much more to come. | | The more events you participate in, closer you get to win a KINDLE! | | Other rewards: Fastrack Watches and Sony Headphones | | | | |  | THE WORLD THIS WEEK | | | • | Roman Catholic Cardinals begin conclave to elect the 266th Pope
| 115 Cardinal electors, under the age of 80, have gathered in the Vatican to elect the new Pope to take over as head of Roman Catholic Church after Pope Benedict abdicated last month. The cardinals will start their meeting at the Sistine Chapel behind closed doors and cast their first vote on Tuesday, 12th Of March. They will continue voting till a candidate wins the required two-thirds majority or at least 77 votes. The selection of the new Pope seems to be a challenging task as the church seeks to revamp its image tarnished by sexual abuse scandals worldwide and allegations of corruption at the Vatican Bank. | | | • | Venezuelan President Hugo Chavez dies at 58
| Hugo Chavez, the president of Venezuela died on Tuesday, the 6th of March after a prolonged period of cancer. Chavez's presidential rule of 14 years made him popular among the poor of the country but a hate figure for the opposition. Chavez was praised for using vast oil wealth to initiate welfare programmes for the poor. A staunch anti-US socialist, Chavez had been criticized by his opponents for being authoritarian, populist and even dictatorial. Vice-President Nicolas Maduro will be the interim president till elections are held next month. | | | • | Air Asia- Tata budget airline deal receives approval from the Indian Government
| A joint venture between Air Asia and Tata Sons to start a budget airline in India has been approved by the Foreign Investment Promotion Board. It would be the first foreign company to foray into the Indian aviation sector after it was opened to foreign investment last year. Air Asia will own 49% of the new airline while Tata Sons will have a 30% stake. Arun Bhatia, the owner of investment firm Telestra Tradeplace, will have the remaining share. | | | • | Italy refuses to send back two marines facing trial in fishermen killing case
| Italy's refusal to send back its two marines who are facing trial in India in a fisherman killing case off the Kerala Coast in February 2012 has sparked strong reaction from all quarters. Prime Minister Manmohan Singh has said that the matter would be taken up diplomatically. The Indian government has lodged a strong complaint with Italian Ambassador Daniele Mancini on the issue, since he had filed an affidavit in the court taking full responsibility of the two marines for bringing them back to India. | | | • | US demands China stop the widespread theft of US cyber data and agree to acceptable cyberspace norms
| In the first ever public confrontation with China over cyber espionage, the US has demanded that China block the cyber attacks on some US corporation and US government agencies. President Obama's national security adviser, Tom Donilon said the US is seeking three things from Beijing: public recognition of the urgency of the problem; a commitment to crack down on hackers in China; and an agreement to take part in a dialogue to establish global standards. | | | • | Japan extracts world's first oceanic methane hydrates gas, hopes to resolve nation's energy crisis
| Japan has extracted the world's first oceanic methane hydrates gas from an undersea hydrate reservoir and hopes that stable production of the gas, if possible, might resolve Japan's long standing energy crisis and lead to a decrease in its rising fossil fuel imports. | | | • | Naresh Goyal alters promoter stake for Etihad Deal valuing Jet Airways at $1.2 billion
| Jet Airways boss Naresh Goyal is putting a multi-phase structured deal that will allow Etihad airways to buy a substantial stake in Jet Airways valuing the Indian carrier at 1.2 billion. Goyal is considering transferring whole or part of 6.9 cr Jet Airways shares from Tail Winds, an Overseas Corporate Body (OCB) which currently owns 80% of Jet, to a company owned by him directly. In the second phase of the deal, Goyal will sell 11% of Jet Airways through an Offer for sale (OFS). Etihad through a fresh issue of shares will then acquire a significant stake in Jet which will also help Jet to reduce its debt. | | | Read the articles here | |
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