Current Affairs February 2016 - Reports

News 1 - Companies Law Committee submits report recommending changes in Companies Act, 2013.

The Companies Law Committee formed in June 2015 to check and suggest changes on implementation of the Companies Act, 2013 has submitted its report to the Union Government on February 02, 2016. The Committee Chairperson was Tapan Ray, Secretary of Ministry of Corporate Affairs. This committee have received more than 2000 suggestions during the consultation phase. The panel made changes in 78 sections of the Act.

News 2 - Tata Consultancy Services rated the most powerful Brand in IT Services.

Tata Consultancy Services

As per a recently released report on February 03, 2016, by Brand Finance, a global brand valuation firm, India's Tata Consultancy Services has been rated as the most powerful brand in Information Technology Services across the world.

The firm evaluated thousands of top brands to find the ones that are most powerful and valuable. The selection was Based on a multiple section scoring system such as familiarity, loyalty, staff satisfaction and corporate reputation.

News 3 - Maharashtra tops the Index of the Internet Readiness of Indian States.

Internet Readiness

The Internet and Mobile Association of India's (IAMAI) published a report titled "Index of Internet Readiness of Indian States" on February 09, 2016. According to it, Maharashtra is the topper in terms of overall internet readiness in India.

Other states like Karnataka, Gujarat, Telangana and Tamil Nadu have also scored well on the index, but the progress of eastern states is poor. The index took into consideration various parameters such as e-infrastructure, e-participation, IT services and e-governance.

News 4 - The US Chamber of Commerce Ranks India 37th in IP Readiness.

IP Readiness

The US Chamber of Commerce has ranked the country 37th in an International Index of Intellectual Property (IP) environment among 38 economies. Indian law does not have adequate measures for enforcement mechanisms to curb online piracy, the report published on February 10, 2016 said.

The US was the topper of the index followed by the UK, Germany, France and Sweden. BRICS nations, Russia obtained 20th rank, China (22nd), South Africa (26th) and Brazil (29th) were also ranked by the report.

News 5 - Neem extract may help treat Pancreatic Cancer - Study.

Pancreatic Cancer

A new study has stated on February 12, 2016 that a natural extract derived from the neem tree can treat pancreatic cancer without harming normal, healthy cells. The findings were published in the journal Scientific Reports. The study was conducted by scientists from the Texas Tech University Health Sciences Center El Paso (TTUHSC El Paso). Neem has been long hailed as an important medicinal plant and the research adds more weightage to the fact.

News 6 - India ranks 54th in terms of domestic policies supporting innovation.

Domestic Policies Supporting Innovation

As per a report published by Information Technology and Innovation Foundation (ITIF) on January 20, 2016, India ranks 54th in terms of its domestic policies supporting global innovation. This report considered 56 countries that comprise of 90% of the total world's economy. The report was analyzed on a per capita basis to study the economic and trade policies of countries that contribute to and detract from innovation globally.

News 7 - India remains world’s largest arms importer.

Arms Importer

A report on international arms transfers by Stockholm International Peace Research Institute (SIPRI) revealed on February 22, 2016 that India is the top arms importer with a 14% share in the world. Other countries like China (4.7%), Australia (3.6%), Pakistan (3.3%), Vietnam (2.9%) and South Korea (2.6%) follow India in terms of arms import according to this report. The high percentage of import may be due to the fact that India is a vast country and security threats have been immense in the recent times.

News 8 - Indian sport-stars lead Forbes list of promising young under 30.

Indian Sport-stars

Forbes' inaugural list of top "promising young leaders and game changers" under the age of 30 in Asia, published on February 25, 2016 provided a glimpse of Indian sportsperson lead the pack of 56 Indians on the list. Tennis star Sania Mirza, Indian Batsman Virat Kohli and top-seeded badminton player Saina Nehwal are among the few who have made it to this list.