1. Snapdeal to invest Rs 637 cr in R&D and launched Findmystyle.in websiteSnapdeal’s R&D department launched its first product, a website Findmystyle.in which helps customers to pick products by data analysing and needs of the customers. It has also announced to make investment of over 100 million US dollars i.e. 637 crore rupees in its Multimedia Research Lab over the next three years situated at Bengaluru.
2. Fashion designer Arnold Scaasi passed away
Arnold Scaasi, the Canadian Fashion Designer, died following cardiac arrest in New York. He was 85. Scaasi was known for his exuberant creations that were worn by socialites and Hollywood stars.
Scaasi was known for bringing the techniques of the French couture to prominent American women. Among them were Barbra Streisand, who wore a sheer, sequined, broadly bell-bottomed pantsuit designed by Scaasi to the 1969 Academy Awards and Barbara Bush, wife of George Bush.
3. BSNL’s proposal to hive its towers into a new company got approval from Union Cabinet
The Union Cabinet chaired by Prime Minister Narendra Modi in New Delhi approved the proposal of hiving about 65000 towers of Bharat Sanchar Nigam Limited (BSNL) into a new company on 5 August 2015.
This will help BSNL to realign its structure in the highly competitive telecom sector. It will also help the public sector company to unlock its tower assets and improve its financial position.
4. Zhanna Nemtsova awarded with Poland's Solidarity Prize 2015
Zhanna Nemtsova, the daughter of slain Russian politician Boris Nemtsov, was on 5 August 2015 awarded with Poland's Solidarity Prize 2015. Nemtsova received the award for championing democracy and human rights.
She received 1.1 million US dollars human rights prize as a recognition. Presently, Nemtsova works for German broadcaster Deutsche Welle in Berlin.
Nemtsova, a former journalist at Russian business news channel RBK, left Russia in June 2014 after her father was assassinated by unknown assailants on 27 February 2014.
5. Airtel launches 4G services commercially in 296 towns
The world's third largest telecom operator Bharti Airtel (Airtel) on
This follows the successful trial of services in select cities and feedback received from its customers, the company said.
Airtel has led the 4G story in India, having launched India's first 4G (also called LTE) network in Kolkata in April 2012.
Airtel 4G is available to customers across a range of smart devices including mobile phones, dongles, 4G hotspots, and Wi-Fi dongles.
6. Visa to test new mobile payments service app mVisa in India
he American global payments technology solution firm Visa Inc to test its pilot app-based mobile payments service ‘mVisa’ in India. mVisa app enables users to transfer money and make micro payments for services through mobile. Visa chose India for its pilot app as Indians does the highest e-commerce transactions over mobile in the world. This app will provide service from September and has tied up with about 20,000 merchants in Bengaluru and prime banks of India. Through this app company aims to replace physical points of sales (PoS) with mVisa. In India Visa has over 1.1 million physical points of sales (PoS). Recently Visa has provided near field communication payment service to iPhone.
7. Union Cabinet gives nod to Direct Release of Wages into bank accounts of MNREGA workers
Union Cabinet has approved the proposal of direct release of wages in to the accounts of the workers engaged under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). Direct release of wages system under the MNREGA aims to streamline the flow of funds and to empower state governments to deliver entitlements as per the objectives of the Act. Henceforth, the wage component of MGNREGA will be directly released to the worker’s accounts based on a fund transfer order to be generated by states’ implementing agencies of government. The fund transfer order in case of wages of workers from implementing agencies will be based in accordance with procedures prescribed by Union Rural Development Ministry and the wage component will be given to the State Employment Guarantee Fund window for further transferring it to beneficiaries. In the implementation of this scheme, the gram panchayats will be empowered to take up work according to the agreed labour budget and without struggling for release of funds.
8. Lok Sabha passed Delhi High Court (Amendment) Bill, 2015
The Lok Sabha passed the Delhi High Court (Amendment) Bill, 2015. The Bill was introduced in Rajya Sabha on 17 February 2014 and was passed by Rajya Sabha on 6 May 2015. The Bill amends the Delhi High Court Act, 1966.
With the passage of the bill in Parliament, the protesting district court lawyers called off their two-week-long strike. The Bill will affect 12211 cases pending in the High Court, according to data cited by the Departmental Standing Committee on Law and Justice.
9. ILO, FICCI ink MoU to boost MSME productivity
The International Labour Organisation (ILO) and Federation of Indian Chambers of Commerce and Industry (FICCI) have inked MoU to impart training to Micro, Small & Medium Enterprises (MSMEs) to make them competitive and boost productivity. The MoU was signed as part of the second phase of Sustaining Competitive and Responsible Enterprises (SCORE) Global Programme. The second phase covers three years period from January 2014 to December 2017 wherein national institutes will provide training to MSMEs. SCORE is a training programme which seeks to empower employers and workers and increase productivity and competitiveness of MSMEs. It is being supported by the Norway Agency for Development Cooperation (NADC) and the Swiss Secretariat for Economic Affairs (SSEA).
10. India static at 156th in FIFA rankings
The Indian football team continued to languish at 156th in the latest FIFA rankings as world champions Germany dropped to number three, with beaten finalist Argentina still holding on to the numero uno spot.
India dropped a whopping 15 places in the rankings issued last month, following reverses against Oman and lowly Guam in the 2018 World Cup qualifiers.
The south-east Asian nation has 160 points in its kitty, with neighbours Pakistan occupying 171st place.
India shares the position with another Asian nation Kyrgyzstan.
National coach Stephen Constantine’s side’s next assignment is the World Cup preliminary joint qualification match against Asia’s top ranked team Iran in Bangalore on September 8.