Current Affairs For Bank, IBPS Exams - 20 January, 2014

Current Affairs For Bank, IBPS Exams

20 January 2014

CBM gas production

  • Reliance Industries Ltd (RIL) plans to start production of natural gas from coal seams, called coal-bed methane (CBM), in Madhya Pradesh from 2015-16.

  • In a presentation to analysts post Q3 earnings announcement, RIL said first gas from its Sohagpur CBM blocks in Madhya Pradesh is "targeted by FY16."

  • It plans to produce 3.5 million standard cubic meters per day of gas from the two Sohagpur blocks.

  • RIL holds 3 CBM blocks -- Sohagpur (East) and Sohagpur (West) in Madhya Pradesh and Sonhat in Chattisgarh. RIL has drilled over 40 crore holes on the 500 square kilometer

  • The process for acquiring land for well sites, market assessment & infrastructure for evacuation and transportation of gas has commenced.

  • The pipeline will have a capacity to transport 4.3 million standard cubic metres per day (mmscmd) of gas, including 0.875 mmscmd capacity that will be available for any third party for open access on non-discriminatory basis.

  • The pipeline will travel from Shahdol to JaysingNagar-Beohari- Gurh and culminate at Phulpur.

Sameer Goel: Cipla India Head

  • Drug major Cipla has announced the appointment of Sameer Goel as Country Head - India,. Goel, who comes to Cipla from GlaxoSmithKline (GSK), will be reporting to company's Managing Director and Global CEO Subhanu Saxena.

  • Goel, in his last assignment, led a USD 0.4 billion business based out of Johannesburg, with responsibility for 44 markets in Sub-Saharan Africa. In his last India-based role at GSK, he led the sales team comprising 4,500 direct and indirect field executives.

China grows 7.7 per cent in 2013

  • China's economy grew 7.7 per cent in 2013, the lowest in 14 years, with tapering growth in the last quarter underlining the challenges faced by the world's second-largest economy as it grapples with rebalancing and reviving a slowing down economy.

  • This marks the slowest growth since 1999, when China grew 7.6 per cent. The previous decade saw record double-digit growth, with the country defying the global slowdown to grow 10.4 per cent in 2010 as it unveiled a massive $ 586 billion stimulus.

  • Growth slowed in the fourth quarter to 7.7 per cent, down from 7.8 per cent in the previous quarter. This brought annual growth to 7.7 per cent, down from last year's 7.8 per cent.

  • Ma Jiantang, head of the National Bureau of Statistics (NBS), attributed the slower growth to a “complex and severe situation” at home and abroad, as he announced last year's data.

  • Data showed the government had made modest progress in its goal of transforming the State-led investment model and boosting domestic consumption, services and innovation industries.

Sharapova’s early exit in Australian Open

  • Third-seeded Maria Sharapova has been eliminated in the fourth round of the Australian Open, losing 3-6, 6-4, 6-1 to Dominika Cibulkova in the second major upset in 24 hours on Rod Laver Arena.
  • Sharapova struggled with her serve, hitting seven double-faults in the third set, and needed an off-court medical time out after the second set for what appeared to be a lower back problem.
  • The four-time major winner was two tournaments into a comeback from a prolonged layoff with a right shoulder injury.
  • Top-ranked Serena Williams was knocked out in the fourth round in a three-set loss to 14th-seeded Ana Ivanovic.

Chong Wei to retire

  • World number one Datuk Lee Chong Wei may hang up his badminton racquet at the end of this year, if his performance is not at its best.
  • The national badminton champion said fatigue and personal problems were the main reasons prompting him to voice his intention to retire this year.
  • Chong Wei started his career at 18, and among his greatest achievements was winning the silver medal at the 2012 Olympic Games in London.

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