Pyongyang’s sanctioned trade

$3 billion

What is it? North Korea’s annual export revenue.

Why is it important? This is likely to be cut by a third due to the new sanctions imposed by the United Nations for its intercontinental ballistic missile testing in July. The resolution against North Korea represents the “strongest sanctions ever imposed in response to a ballistic missile test”. These sanctions are to cut off Pyongyang’s money supply and prevent it from further developing its outlawed missile expansion program.

Tell me more: It was a unanimous decision of the UN Security Council with 15 votes in favour that targets North Korea’s primary exports including coal, iron, iron ore, lead, lead ore and seafood.

 

10 days

What is it? The number of days spent by Congress MLAs (member of legislative assembly) from Gujarat at a hotel resort near Bengaluru, ahead of the Rajya Sabha elections.

Why is it important? The forty-four MLAs returned to their home state after being flown away to Bengaluru to prevent them from either quitting or defecting ahead of the Rajya Sabha elections in Gujarat on Tuesday.

Tell me more: At stake is the fifth re-election of Congress head, Sonia Gandhi’s political secretary, Ahmed Patel to the Rajya Sabha from Gujarat. The MLAs were again whisked away to another resort in in Anand, near Ahmedabad on return.

 

2 lakh-tonne

What is it? The quantity at which the Indian government has capped the import of arhar dal (split pigeon pea).

Why is it important? This comes at a time when farmers are demanding a better price for arhar dal following a record production of 22.4 million tonne of pulses in 2016-17 and 4.6 million tonne of arhar dal (record) in the same year. The prices of arhar dal shot up to Rs 200 per kg last year, following which the government imported 30 lakh tonnes of pulses, of which 20 lakh tonne are lying in its warehouses.

Tell me more: India is not only the biggest producer but also, the largest consumer and importer of pulses.

 

116

What is it? The number of sexual harassment complaints reported in IT software and services company, Wipro, in the year 2016.

Why is it important? This was the highest number of such complaints with a listed company in the latest reporting year (FY17, according to Sebi guidelines), of which 102 were resolved. The numbers increased last year compared to previous years, and not just for Wipro. While Wipro’s went up from 111 in 2015 (with 107 solved), Infosys’ went up from 62 in FY16 to 88 in FY17 (77 resolved), and TCS’ cases went up from 34 to 65 (with 61 resolved) in that time.

Tell me more: The Securities and Exchange Board of India had made it mandatory for listed company to disclose the number of complaints and their pendency at the end of the financial year in their annual reports.

 

56

What is it? The number of employees in United Spirits who received above Rs 1 crore in salary in FY17.

Why is it important? This could be an attempt by Diageo, which has majority stake in United Spirits, to professionalise the management by attracting talent in an industry affected by multiple factors — alcohol ban in Bihar, demonetisation and the Supreme Court banning alcohol sale along the national highways. The number of crorepatis is more than even some tier-I IT companies such as Infosys (51).

Tell me more: Diageo completed buying controlling stake of 55% in the company in 2014.

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Monsoon cracks on ☔

6%

What is it? The percentage above normal registered by monsoon rainfall till July 2.

Why is it important? The monsoon, which accounts for over 70% of India’s annual rainfall, is the primary source of irrigation for half of the country’s cropland and refills over 80 nationally-monitored water reservoirs (important for drinking purposes, power and irrigation).

Tell me more: The monsoon is expected to cover the country by July 15, on schedule. The onset of the southwest monsoon has led farmers to plant 19% more hectare with rain-dependent kharif crops than last year (22.2 million hectare over 18.7 million hectare).

 

8%

What is it? The hike in Bharti Airtel Chairman Sunil Bharti Mittal’s annual pay in 2016-17.

Why is it important? Mittal’s pay increased despite India’s largest telecom operator  suffering a sharp decline in annual consolidated profit this year due to intense competition. In 2016-17, Bharti Airtel’s consolidated net profit was Rs 3,799 crore, registering a fall of 37.5%. Mittal’s income rose from Rs 27.8 crore to Rs 30.1 crore in the same year.

Tell me more: Bharti Airtel Managing Director and CEO (India and South Asia) Gopal Vittal earned nearly 50% more than last year, as well. It is unlike the trend in another sector: chiefs in the IT industry such as Infosys CEO Vishal Sikka and Wipro Chairman Azim Premji have taken cuts in their pay, in line with performance goals.

 

28%

What is it? The percentage of women students who secured admission to the post graduate programme in management at the Indian Institute of Management, Ahmedabad (IIMA) – the premier business school.

Why is it important? This was achieved without giving extra marks or gender-specific quotas. IIMA decided to give lower weightage to the score from the Common Admission Test, an entrance exam for getting admission to business schools, and invite candidates from non-engineering background for the interviews.

Tell me more: Around 85% of students in IIM, Bangalore are from engineering background, and within that 50% are from Indian Institute of Technology and National Institute of Technology.

 

33.6 million

What is it? The number of youth in the 18-19 age group who remain unregistered on the voters’ list.

Why is it important? This number is 60% of eligible voters in the age group of 18-19 years. However, the number of eligible voters not enrolled has come down from 90% six years back. Indian citizens are allowed to vote after reaching 18 years.

Tell me more: The Election Commission of India is running a month-long drive in July to persuade them to register. For the generation hooked on social media, EC has tied up with Facebook to host a special button for registration.

 

Upto Rs 32

What is it? The hike in the cost of an LPG or cooking gas cylinder.

Why is it important? Household LPG cylinders are set to become costlier because under GST it is under the slab of 5% taxation, higher than the VAT levied earlier by some states at 2-4%. Further cuts in subsidy of LPG connections in June will compound the price rise, and go up to Rs 32 extra for each cylinder in some states.

Tell me more: The last subsidy cut was in May of around Rs 2, implementing the government’s target of eliminating it through small increases.

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Stress relief for ICICI

676 million Swiss Francs

What is it? The money kept by Indians in Swiss banks in 2016, according to the Swiss National Bank (SNB), Switzerland’s central bank.

Why is it important? The amount, around Rs 4,600 crore, is at an all-time low. India and Switzerland, considered a tax haven, have signed an agreement to automatically share information when money is deposited in the latter’s banking system. Exchange of information will begin from next year.

Tell me more: The amount, however, does not reflect money kept by Indians through entities from other countries.

 

Rs 16,189 crore

What is it? The amount paid by UltraTech Cement to acquire Jaiprakash Associates and Jaypee Cement Corporation.

Why is it important? It marks the biggest sale of stressed assets by lenders, a consortium led by ICICI Bank in this case. Loans worth Rs 12,000 crore of Jaiprakash Associates will move to the books of the Aditya Birla Group-owned cement major. The debt will now be labelled as AAA status from a non-performing asset.

Tell me more: By December, 2016, Indian banks had stressed assets/bad loans worth Rs 9.64 lakh-crore, up from Rs 8 lakh-crore a year ago. The deal also marks the largest acquisition of cement assets in India.

 

7th

What is it? India’s rank among countries most affected by the recent ‘Petya’ ransomware.

Why is it important? India is the worst hit in the Asia Pacific region. Russia’s oil firm Rosneft, international advertising behemoth WPP and one of Jawaharlal Nehru Port Trust’s terminals were among the companies that got infected.

Tell me more: Ukraine, US and Russia were the worst hit globally, with France, UK, Germany, China and Japan also coming under attack. This is the second ransomware attack in less than two months, after ‘WannaCry’ wreaked havoc in over 100 countries in May.

 

1,600

What is it? The number of US local talent Indian software company, Wipro, has hired in the last six months.

Why is it important? Local staff now account for half of Wipro’s 14,000 employees in US. Other Indian outsourcing companies like Infosys have also started hiring local talent in US, the largest market for software exports from India. This comes at a time when the world’s largest economy is tightening norms for issuing H1-B visas – which allows temporary employment in US and was used extensively by Indian companies to service US clients.

Tell me more: Infosys plans to hire 10,000 Americans in the next two years, and TCS too plans to ramp up local appointments.

 

85%

What is it? The percentage of seats in 28 Delhi University colleges that Delhi government wants to reserve for local students.

Why is it important? Delhi government passed a resolution on Thursday, but it has to get the approval from the governor and Union education ministry. The Delhi government is demanding reservation in 28 out of 63 Delhi University colleges that it funds fully or partially.

Tell me more: The Delhi government says of the 250,000 students passing out from Delhi’s schools, only 28,000 are able to secure a college seat in Delhi due to intense competition.

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