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Current Affairs July 18 2013



Sunil Gavaskar, Nagarjuna buys stake in Indian Badminton League's Mumbai franchise
Team: Mumbai Masters.

Stake Holders:  former cricket captain Sunil Gavaskar and Telugu actor Nagarjuna .
The consortium also includes former manager of the Indian cricket team and businessman Vankina Chamundeswaranath.
Value: $ 1 million
Launch Date: August 14 with some high-voltage action expected between PVP's Hyderabad Hotshots and BOP Group's Banga Beats
Total Matches:  90 matches
Total Franchise: 6 (Mumbai, Pune, Hyderabad, Delhi, Bangalore and Lucknow)
Format: Sudirman Cup 


IMF chief after Christine Lagarde defends 'troika' EU swipe
IMF chief Christine Lagarde defended the so-called troika group that oversees eurozone bailouts,
The "troika" of the European Commission, the European Central Bank and the International Monetary Fund oversees bailouts and austerity programmes for heavily indebted eurozone members such as Cyprus, Greece, Ireland or Portugal.
Statement of EU Justice Commissioner Viviane Reding:  "time of the troika is over" and that "we Europeans must be capable of resolving our problems by ourselves."

ArcelorMittal scraps Rs 50,000 cr steel project in Odisha
In the biggest foreign investment pullout, world's largest steel maker ArcelorMittaL today scrapped its USD 12 billion (Rs 50,000 crore) steel plant in Odisha over inordinate delays, problems in acquiring land and securing iron ore linkages.
The development comes just a day after South Korean steel major Posco pulled out of its Rs 30,000-crore steel mill in Karnataka and the government widened its doors to foreign direct investment for a dozen sectors. Steel baron Lakshmi Mittal-headed ArcelorMittal's proposed plant in Odisha was among the biggest foreign direct investments India has attracted.
Two other plants -- Rs 52,000 crore steel mill of Posco in Odisha and Rs 50,000 crore steel mill of ArcelorMittal in Jharkhand are the two other largest FDI India has attracted. Both the projects are also facing inordinate delays.
 


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