Today's Top Headlines 13-04-2015

Top Headline 13-04-2015

1. German Nobel laureate Guenter Grass dies at age 87

i. Guenter Grass, the Nobel-winning German writer who gave voice to the generation that came of age during the horrors of the Nazi era has died. He was 87.

ii. Grass was lauded by Germans for helping to revive their culture in the aftermath of World War II and helping to give voice and support to democratic discourse in the post war nation.

iii. Grass made his literary reputation with “The Tin Drum,” published in 1959. It was followed by “Cat and Mouse” and “Dog Years,” which made up what is called the Danzig Trilogy after the town of his birth, now the Polish city of Gdansk.

2. SBI Cuts home loan rate by another 10 bps for new buyers

i. State Bank of India (SBI), has cut the interest rate for new home loans by another 10 bps, to 9.9 per cent.

ii. In effect, the interest rate for new home loans will be reduced by 25 bps. For the existing ones, 15 bps is the reduction.

iii. The move comes amid the RBI directive that an interest rate differential will not be allowed if customer profiles are similar.

3. Gujarat government launches industrial tourism to showcase development 

i. In a first of its kind initiative in the country, Gujarat government is promoting a tour package covering major industrial installations which have earned global acclaim for the state. 

ii. Some of the major attractions of this recently launched tour package include a visit to Tata Nano plant in Sanand, Pipavav port near Amreli, Alang ship breaking yard in Bhavnagar and Amul Dairy in Anand. 

iii. The package, called Industrial Tour of Gujarat, has been offered by city-based Akshar Travels Pvt Ltd, official partner of state-run tourism agency Tourism Corporation of Gujarat Ltd (TCGL), which is promoting the tour on its website.

4. Larsen & Toubro inks MoU with AREVA

i. Larsen & Toubro (L&T) has announced signing a memorandum of understanding (MoU) with AREVA of France for co-operation to maximise localisation of the EPR nuclear power plant to be built at Jaitapur, Maharashtra.

ii. This partnership will add new dimensions to the capabilities of India’s manufacturing sector in the nuclear business.

iii. AREVA will transfer technology to utilise the forging capabilities of L&T Special Steels and Heavy Forgings (a joint venture with Nuclear Power Corporation of India Ltd.).

5. Modi inaugurates German industrial fair

i. Prime Minister Narendra Modi opened on Sunday the Hanover Messe, the world’s largest industrial fair, alongside German Chancellor Angela Merkel.

ii. India is the partner country of this year's trade fair, which brings together about 6,500 exhibitors from 70 nations.

iii. Germany is India’s largest trading partner in Europe and total bilateral trade between the two countries was valued at 16.08 billion euro (17 billion dollars) in 2013. There are currently more than 1,600 Indo-German business collaborations and 600 Indo-German joint ventures in operation.