Current Affairs of 5 September

 1.Modi Address Childrens on Teacher's Day
Addressing millions of students and teachers across the country,
 Prime Minister Narendra Modi, in his Teacher’s Day address to the nation, said on Friday that there is need to find out why the value of a teacher has lost its sheen and why students don’t want to be teachers when they grow up.
In a first such address to the nation, the Prime Minister said there is a great demand for good teachers in the world, and India being a young country should be able to produce good quality teachers for the world.
“For me it is a privilege that I am able to speak to those who are the future of the country. Today is Teacher’s Day, but slowly the value of the day is lessening... There must probably be some schools where it is not observed...The day is now just focused on teachers getting awards and being felicitated, it remains that. It is necessary to highlight the value of teachers in society.”

2. Development of the nation needs to be made a people’s movement: PM
 Prime Minister Narendra Modi today said that development of the nation needs to be made a people’s movement.
He said this while addressing students on Teachers' Day.
"I am a task master, I work myself and take work from others also,'' he said.
"My focus is on ensuring girls do not drop out of schools; initiative for toilets in all schools is part of this endeavour,'' he added.
Climate has not changed, our tolerance and habits have changed.

3. India and Australia seal nuclear deal, Abbott meets Modi
India and Australia sealed the long-awaited nuclear energy deal on Friday even as Australian Prime Minister Tony Abbott said he wanted first-rank relations with India.
Abbott met Prime Minister Narendra Modi in New Delhi and finalized the deal to allow the export of uranium to India.
Abbott said India and Australia were bound by "strongly convergent" trade and strategic interests on the last day of his visit, which culminated with the deal to supply uranium to the energy-hungry country.

4. Jabong, 4 others merge to form Global Fashion Group
 Investment AB Kinnevik and Rocket Internet AG, investors in Jabong,
will merge the Indian online fashion retailer with four other firms to create a new global fashion e-commerce group.
The new entity — to be called Global Fashion Group (GFG) — will combine five fashion e-commerce businesses, namely Dafiti (Latin America), Jabong (India), Lamoda (Russia & CIS), Namshi (Middle East) and Zalora (South East Asia & Australia).
The deal is expected to close later in the year.
GFG will focus on growth markets, covering 23 countries with a EUR 330 billion fashion market and population of over 2.5 billion people.
“GFG will market a wide assortment of leading International apparel and accessories brands, a tailored selection of highly engaging internally developed brands and local assortments developed for specific ethnic markets notably in India, Indonesia and the Middle East,” a statement said.


5. Modi’s Varanasi weavers to sell online, courtesy Flipkart
World-famous weavers from Varanasi may soon have the cyber-world as their market. India's largest e-tailer, Flipkart, has planned to set foot on the holy land, now the constituency of Prime Minister Narendra Modi, and launch a pilot project to get the city weavers join the e-bandwagon. Confirming the development with TOI, Flipkart said that the pilot project would enable Varanasi weavers to join the website as sellers.
Flipkart, which has more than 3,000 listed sellers, said that the plan is to trace genuine weavers from the area and provide them with all logistical and technical support to start selling their products online. "This is in a very beginning stage and we are expecting something concrete soon," said a Flipkart spokesperson.
The initiative, called 'Flipkart Kaarigar ka Dwaar', is in partnership with the central government and will kick off with 50 sellers from Varanasi within two weeks. On Wednesday, Flipkart brought NIFT students on board to design for these weavers. The company said that it would set up a collection centre in the city which would also be accessible to designers for interacting with the weavers.


6.Nato Summit 2014
Nato leaders gathered in Newport, Wales, on Thursday, for the start of a two-day summit dubbed the group's most important since the Cold War.
Behind over 12 miles of steel fencing, leaders plan to discuss ISIS's advance across Iraq and Syria; the crisis in Ukraine and the nation's bid to join Nato; as well as the group's military mission in Afghanistan.
Issues including threats to national security in Nato countries, including cyber-attacks and terrorism, will also be up for discussion.
What is Nato?
Its name, which stands for the North Atlantic Treaty Organization, was founded in 1949, two years after the beginning of the Cold War, and is backed by the nuclear arsenal of the US, UK and France.

7. Bisleri enters energy drink segment with URZZA
 Leading packaged drinking water firm Bisleri International has forayed into the energy drink segment with ‘URZZA’ and is eyeing a sales target of 10 million cases (24 cans) in one year, a senior company executive has said.
“URZZA is a great tasting energy booster that stimulates the mind and refreshes the body and does not contain caffeine.
It is fortified with essential vitamins that help tired bodies to bounce back with energy fit for all age group. Now it is partially launched and will be available across the country by the end of this month,” Bisleri International Chairman Ramesh Chauhan

8. M R Mayya, former ED of Bombay Stock Exchange, is no more
MR Mayya, 83, a doyen of the Indian capital market and former Executive Director of the Bombay Stock Exchange, passed away in a hospital in Mumbai

9. Govt. allots 1,200 acre to NTPC in Vizag

The State government has allotted 1,200 acre of land near APSEZ in Pudimadaka village of Atchuthapuram Mandal in Vishakhapatnam District to the National Thermal Power Corporation Ltd. (NTPC) to set up a coal based super thermal power station.
The government issued a GO on Thursday, allotting the land to the NTPC for a lease period of 33 years. The NTPC will set up 5X800 (4000MW) super thermal power station at an estimated cost of Rs. 20,000 crore. The project will be completed before March 2019.

10. Subrata Roy seeks 10 more days to raise funds by selling properties
ahara Chief Subrata Roy told the Supreme Court that almost finalised deals to sell his three luxury hotels in New York and London has hit a roadblock and is on the verge of collapse and sought ten days more time to sell the properties to raise Rs 10,000 crore to be deposited with SEBI to get bail.
Appearing before a bench headed by Justice T.S. Thakur, Mr. Roy’s counsel submitted that there have been huge protests outside the hotels after an International newspaper published story that Sultan of Brunei is buying the properties.



 1.Modi Address Childrens on Teacher's Day
Addressing millions of students and teachers across the country,
 Prime Minister Narendra Modi, in his Teacher’s Day address to the nation, said on Friday that there is need to find out why the value of a teacher has lost its sheen and why students don’t want to be teachers when they grow up.
In a first such address to the nation, the Prime Minister said there is a great demand for good teachers in the world, and India being a young country should be able to produce good quality teachers for the world.
“For me it is a privilege that I am able to speak to those who are the future of the country. Today is Teacher’s Day, but slowly the value of the day is lessening... There must probably be some schools where it is not observed...The day is now just focused on teachers getting awards and being felicitated, it remains that. It is necessary to highlight the value of teachers in society.”

2. Development of the nation needs to be made a people’s movement: PM
 Prime Minister Narendra Modi today said that development of the nation needs to be made a people’s movement.
He said this while addressing students on Teachers' Day.
"I am a task master, I work myself and take work from others also,'' he said.
"My focus is on ensuring girls do not drop out of schools; initiative for toilets in all schools is part of this endeavour,'' he added.
Climate has not changed, our tolerance and habits have changed.

3. India and Australia seal nuclear deal, Abbott meets Modi
India and Australia sealed the long-awaited nuclear energy deal on Friday even as Australian Prime Minister Tony Abbott said he wanted first-rank relations with India.
Abbott met Prime Minister Narendra Modi in New Delhi and finalized the deal to allow the export of uranium to India.
Abbott said India and Australia were bound by "strongly convergent" trade and strategic interests on the last day of his visit, which culminated with the deal to supply uranium to the energy-hungry country.

4. Jabong, 4 others merge to form Global Fashion Group
 Investment AB Kinnevik and Rocket Internet AG, investors in Jabong,
will merge the Indian online fashion retailer with four other firms to create a new global fashion e-commerce group.
The new entity — to be called Global Fashion Group (GFG) — will combine five fashion e-commerce businesses, namely Dafiti (Latin America), Jabong (India), Lamoda (Russia & CIS), Namshi (Middle East) and Zalora (South East Asia & Australia).
The deal is expected to close later in the year.
GFG will focus on growth markets, covering 23 countries with a EUR 330 billion fashion market and population of over 2.5 billion people.
“GFG will market a wide assortment of leading International apparel and accessories brands, a tailored selection of highly engaging internally developed brands and local assortments developed for specific ethnic markets notably in India, Indonesia and the Middle East,” a statement said.


5. Modi’s Varanasi weavers to sell online, courtesy Flipkart
World-famous weavers from Varanasi may soon have the cyber-world as their market. India's largest e-tailer, Flipkart, has planned to set foot on the holy land, now the constituency of Prime Minister Narendra Modi, and launch a pilot project to get the city weavers join the e-bandwagon. Confirming the development with TOI, Flipkart said that the pilot project would enable Varanasi weavers to join the website as sellers.
Flipkart, which has more than 3,000 listed sellers, said that the plan is to trace genuine weavers from the area and provide them with all logistical and technical support to start selling their products online. "This is in a very beginning stage and we are expecting something concrete soon," said a Flipkart spokesperson.
The initiative, called 'Flipkart Kaarigar ka Dwaar', is in partnership with the central government and will kick off with 50 sellers from Varanasi within two weeks. On Wednesday, Flipkart brought NIFT students on board to design for these weavers. The company said that it would set up a collection centre in the city which would also be accessible to designers for interacting with the weavers.


6.Nato Summit 2014
Nato leaders gathered in Newport, Wales, on Thursday, for the start of a two-day summit dubbed the group's most important since the Cold War.
Behind over 12 miles of steel fencing, leaders plan to discuss ISIS's advance across Iraq and Syria; the crisis in Ukraine and the nation's bid to join Nato; as well as the group's military mission in Afghanistan.
Issues including threats to national security in Nato countries, including cyber-attacks and terrorism, will also be up for discussion.
What is Nato?
Its name, which stands for the North Atlantic Treaty Organization, was founded in 1949, two years after the beginning of the Cold War, and is backed by the nuclear arsenal of the US, UK and France.

7. Bisleri enters energy drink segment with URZZA
 Leading packaged drinking water firm Bisleri International has forayed into the energy drink segment with ‘URZZA’ and is eyeing a sales target of 10 million cases (24 cans) in one year, a senior company executive has said.
“URZZA is a great tasting energy booster that stimulates the mind and refreshes the body and does not contain caffeine.
It is fortified with essential vitamins that help tired bodies to bounce back with energy fit for all age group. Now it is partially launched and will be available across the country by the end of this month,” Bisleri International Chairman Ramesh Chauhan

8. M R Mayya, former ED of Bombay Stock Exchange, is no more
MR Mayya, 83, a doyen of the Indian capital market and former Executive Director of the Bombay Stock Exchange, passed away in a hospital in Mumbai

9. Govt. allots 1,200 acre to NTPC in Vizag

The State government has allotted 1,200 acre of land near APSEZ in Pudimadaka village of Atchuthapuram Mandal in Vishakhapatnam District to the National Thermal Power Corporation Ltd. (NTPC) to set up a coal based super thermal power station.
The government issued a GO on Thursday, allotting the land to the NTPC for a lease period of 33 years. The NTPC will set up 5X800 (4000MW) super thermal power station at an estimated cost of Rs. 20,000 crore. The project will be completed before March 2019.

10. Subrata Roy seeks 10 more days to raise funds by selling properties
ahara Chief Subrata Roy told the Supreme Court that almost finalised deals to sell his three luxury hotels in New York and London has hit a roadblock and is on the verge of collapse and sought ten days more time to sell the properties to raise Rs 10,000 crore to be deposited with SEBI to get bail.
Appearing before a bench headed by Justice T.S. Thakur, Mr. Roy’s counsel submitted that there have been huge protests outside the hotels after an International newspaper published story that Sultan of Brunei is buying the properties.



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