1. Forbes released the list of World's Highest-Paid Celebrities of 2016:
- Musician Taylor Swift with $170 million in her earning bag seized the top spot on the list.
- Music band One Direction grabbed the second position with earnings of 110 million US dollars.
- Author James Patterson was ranked third with earnings of 95 million US dollars.
- In 2015, the list was topped by boxer Floyd Mayweather, Jr.
- Forbes’ Celeb 100 list also included the name of two Bollywood actors. They are Shahrukh Khan and Akshay Kumar.
- Shahrukh Khan was ranked 86th in the list with earnings of 33 million US dollars.
- Akshay Kumar grabbed the 94th spot in the list with earnings of 31.5 million US dollars.
- Football star Cristiano Ronaldo sparked in the Forbes list after claiming Euro cup title for Portugal under his captainship and got 5th rank in the list with earnings of 88 Million dollars.
2. Pokhara-New Delhi direct bus service launched:
- The first direct bus service between Pokhara (Nepal) and New Delhi (India) was launched to connect South Asia’s two important cities.
- This bus service was flagged off by Nepal Home Minister Shakti Bahadur Basnet and India’s ambassador to Nepal Ranjit Rae from Pokhara (Nepal’s famous tourist spot).
- The bus service was launched as per the Motor Vehicle Agreement (MVA) signed between both countries. The agreement was signed during Prime Minister Narendra Modi’s Nepal visit in 2014.
- The new bus service between Pokhara and New Delhi was proposed by the Uttar Pradesh State Road transport Corporation (UPSRTC) as per decision taken in MVA
3. India and Bangladesh sign deal for construction of coal fired power plant:
- India and Bangladesh on 12 July 2016 signed a landmark deal for the construction of Rampal Power Station, a 1320 megawatt coal fired power plant.
- The Rampal Power Station is the biggest project under bilateral cooperation.
- The Bangladesh-India Friendship Power Company Limited (BIFPCL), the joint venture enterprise, signed the deal with Bharat Heavy Electricals Limited (BHEL).
- BHEL was chosen under an open international tender for constructing the super thermal plant at Bangladesh's southwestern Rampal near the Sundarbans.
- India's Exim Bank will provide 1.49 billion US dollars for the project.
- The project is scheduled to start generating power in 2019.
- The project is also known as Maitree Super Thermal Power Project.
4. Najma Heptulla, G M Siddeswara quit Modi Cabinet:
- Union ministers Najma Heptulla and GM Siddeshwara resigned.
- Dr Heptulla, the Minority Affairs Minister, was replaced by Minister of State Mukhtar Abbas Naqvi, who has been given independent charge.
- The portfolio held by Mr. Siddeshwara - junior minister for Heavy Industries - will be taken over by Babul Supriyo, who was the junior minister for Urban Development.
5. INS Karna commissioned by Navy chief:
- Chief of Naval Staff Admiral Sunil Lanba on 12 July 2016 commissioned INS Karna in Vishakhapatnam.
- INS Karma is a dedicated base for Marine Commandos (MARCOS), which is a Special Operation Forces of Indian Navy.
- INS Karna is located on the premises of INS Kalinga near Bhimili.
- Captain Varun Singh will be the Commanding Officer of INS Karna.
6. SBI signs MoU with IIT Bombay to promote startups:
- India’s top public sector bank, State Bank of India (SBI), has signed a memorandum of understanding (MoU) with the Indian Institute of Technology Society for Innovation and Entrepreneurship (SINE), (IIT) Bombay’s technology business incubator, to promote innovation by startups in the financial sector.
- As per the MoU, both the parties will identify FinTech startups that have products or applications to cater to the financial sector and can help SBI explore opportunities to enhance the synergy for their banking services.
- SBI will provide a platform for testing/ piloting such products/applications and maybe also check for any specific business linkages. This MoU also aims to help evaluate startups operating out of SINE or those being promoted by SINE for early stage funding within the bank’s norms.
7. "Ringside With Vijender" authored by Rudraneil Sengupta released:
- The book titled Ringside With Vijender authored by Rudraneil Sengupta released on 8 July 2016.
- The book, published by Juggernaut Books, throws light on the Beijing Olympics bronze medallist boxer Vijender Singh's life post his transition to the world of pro boxing.
- The book also deals with the boxer’s sudden decision to turn pro just an year ahead of the Rio Olympics. It also offers an insight into his struggles, changes in his boxing style, training and his personal life.
8. K V R Murthy new CMD of Jute Corporation:
- K V R Murthy has taken over as chairman-cum-managing director of the Jute Corporation of India Limited from July 2.
- His appointment is for a period of five years or till the date of his superannuation
- The Jute Corporation of India Ltd. (JCI) is based in Kolkata, is an agency of the government of India that assists jute cultivators in states where this crop is grown, providing minimum price support.
9. Permanent Court of Arbitration ruled in favor of The Philippines on South China Sea:
- The Hague-based Permanent Court of Arbitration (PCA) on 12 July 2016 ruled in favor of the Philippines in a maritime dispute on South China Sea.
- The tribunal concluded that China do not have legal basis to claim historic rights to the bulk of the Sea.
10. IDFC Bank acquires Grama Vidiyal:
- IDFC Bank has announced it had acquired Tamil Nadu-headquartered microfinance institution Grama Vidiyal in an all-cash deal.
- The company did not disclose the deal size.
- The acquisition gives IDFC Bank access to Grama Vidiyal’s 12 lakh customers across seven States, besides giving it 319 branches across 65 districts in these States. The bank has obtained in-principle approval from the Reserve Bank of India for the deal.
11. HDFC to sell masala bonds:
- Housing Development Finance Corp (HDFC) is set to become the first Indian company to sell masala bonds, a rupee-denominated bond sold to foreign investors and listed on an overseas exchange.
- It plans to raise as much as Rs 3,000 crore.
- These bonds will bear a fixed coupon and will have a incumbency period of 3 years and 1 month.
- The company has named Axis Bank, Credit Suisse and Nomura as joint venture runners and lead managers to the event.
12. Cabinet approves stake sale in NBCC India:
- The Centre has cleared a proposal to sell its stake in state-owned construction company NBCC India with an aim to meet the Rs. 56,500-crore PSU disinvestment target in 2016-17.
- At present, the government holds 90 % in the company, which has a market capitalisation of Rs.14,274 crore.
- Earlier, in May this year, shareholders had approved stock split to facilitate the FPO under the government’s disinvestment programme.
- The company has split its share of Rs. 10 each into five with a face value of Rs. 2 each. The Centre will have to divest at least 15 % to meet SEBI’s public listing requirements.