1)Sushil Koirala to be Nepal Prime Minister
Reconciling differences over power-sharing, the Nepali Congress and the CPN-UML on Sunday signed a seven-point agreement, paving the way for Sushil Koirala to become Nepal’s Prime Minister. Soon after, Mr. Koirala, the NC president, filed his nomination papers in Parliament for Monday’s election and thanked the UML for its support.
Though he is now assured of getting elected unopposed, he still needs to enter the election process since the election is being held under the majority provision as mentioned in the interim Constitution.
The two parties agreed not to hold elections to the posts of President and Vice-President now.
2)Bank strike today, tomorrow
Banking services will be affected across India with staff of both public and private sector banks striking work on Monday and Tuesday in protest against the proposed banking sector reforms and in support of their demand for an immediate revision in wages. Over a million bank employees and officers working in 27 public sector, 12 private and eight foreign banks will strike work, the United Forum of Bank Unions said on Sunday
3)Will Nadella help Microsoft break away from the past?
The tech giant should abandon the notion that it is a Windows-only company
Going by the champagne popping and chest-thumping surrounding Satya Nadella’s anointment as next CEO of Microsoft, it’s almost as if the events that lead to former CEO Steve Ballmer’s hasty resignation and the unduly prolonged CEO search never happened.
4)It is not an open and shut case to say that India is least cost
Banmali Agrawala , President and CEO of GE South Asia, is a veteran of the energy sector having spent close to three decades working with Wartsila Group and Tata Power. He may be heading a small part of the $146 billion GE’s worldwide empire, but at around $2 billion, GE in India compares favourably with other Indian companies.
In this interview with The Hindu in New Delhi recently, Mr. Agrawala offers insight into GE’s conservative approach in India explaining why it does not make sense to invest in manufacturing power equipment here. He appeared just a bit defensive when asked about the relative inflexibility of American corporations vis-à-vis their Japanese and Korean counterparts while doing business in emerging markets.
5)Data revisions and state of the economy
India’s growth statistics have been in the news for a variety of reasons. They are also topical. The Central Statistics Office (CSO) released the first growth estimate for 2013-14 on February 7. The economy will grow by 4.9 per cent, a tad higher than what the markets were expecting but below the 5 per cent which the government was hoping at the very minimum.
But much of the action leading to the latest data release occurred a week before.
6)Ramachandran is the new president of IOA
The suspended Indian Olympic Association (IOA) amended its constitution and successfully held its elections here on Sunday, taking the first steps to returning to the international fold.
World Squash Federation president N. Ramachandran was unanimously named as the new president of the IOA in the elections held in the presence of three observers from the International Olympic Committee (IOC) — Pere Miró, IOC Director of NOC Relations, Jérôme Poivey, Head of Institutional Relations in the NOC Relations Department, and Robin Mitchell, head of the IOC delegation.
“The IOC delegation is satisfied with this meeting here today. We will be in Sochi by tomorrow evening and are hopeful of a favourable report to the IOC Executive Board. A final decision on reinstating India will be taken soon, most likely on February 23,” Mitchell said.
Indian athletes at the ongoing Winter Olympics in Sochi are participating under the Olympic flag. However, it is unlikely that the Indians will be able to march under the tricolour during the closing of the Games.
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