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The CAB - May 1 - 15, 2007

Welcome to CAB, the Current Affairs Bulletin, your vehicle for success in competitive examinations.

Report card: Economic information

*May 3rd
Singapore Airport Terminal Services Ltd and Air-India have joined hands in a joint venture company to run ground handling services at the upcoming international airport near Bangalore. Air-India will hold 60 per cent equity in the venture.

*May 10th
ONGC videsh limited (OVL) has discovered natural gas in the Farsi block of Iran with the reserves being estimated at 10 trillion cubic feet. The minimum investment in exploration of this block will include about $27 million. The search will be in collaboration with National Iranian oil company. Interestingly under the contract ONGC will not be allowed to take Natural gas to India.

*May 11th
Civil aviation minister Mr. Praful Patel revealed that the country’s ‘unified national carrier’ formed after the merger of Air India and Indian Airlines will start operations from 15th July, and the new airlines will be branded as ‘Air India’.

Getting decorated: Awards

*May 6th
The Devan Memorial Medal was awarded to writer and orator Thenkachi Go. Swaminathan and artist Jayaraj on the occasion of the 50th death anniversary of the Tamil writer. Devan and Kalki Krishnamurthy were instrumental in giving modern Tamil writing its shape and form.

Hire grounds: Appointments an commission

*May 6th
The empowered committee on VAT has announced the constitution of a group to lay a road map for introduction of the goods and services act (GST). GST has been claimed to be a better and a superior tax system than VAT. The Union Finance Ministry has proposed to introduce GST by April 1, 2010.

Bats, balls and overalls: Sports

*May 14th
The Spanish Grand Prix was won by Ferrari's Felipe Massa, while the British rookie Lewis Hamilton stood second in only his fourth Formula One, while Double world champion Alonso finished third.

*May 15th
India won the One day cricket series 2-0 against Bangladesh after the third match was washed out. M.S Dhoni was declared the Man of the Series.

Anil Kumble and Rahul Dravid are the only Indians to remain on the ICC test ranking top ten list; Kumble stands third in the bowlers table while Dravid is eighth in the batsmen’s charts.

……………and everything else: Miscellaneous

*May 4th
India celebrated 150 years since its 1st war of independence.

*May 5th
Congress leader Sonia Gandhi, steel baron L.N. Mittal and Pepsico CEO Indra Nooyi figure in Time magazine's popular list of 100 most influential people, which also includes Al-Qaeda leader Osama bin Laden. Missing from the list, for the first time in four years, is United States President George W. Bush.

*May 10th
Prithvi-1, the medium range surface-to-surface missile, was successfully test-fired in an "extended range” of more than 150 km by the Army as part of its training module at Chandipur-on-sea.

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