31 DECEMBER 2014: Dhoni gives akward christmas surprise to viewers!

Ø  Mahendra Singh Dhoni retired from Test cricket after the third Test between India and Australia concluded in a draw at the Melbourne Cricket Ground. The long-standing India captain’s battling unbeaten 24 played a key role in his side saving the third Test. Dhoni’s decision came as a surprise since there is one more Test remaining in the series. He did not make the announcement in his post-match conference here. Even as the correspondents were typing their reports, the bombshell came from the BCCI.

Ø  After three days of intense search, debris of the missing AirAsia aircraft carrying 162 people was found in the Java Sea off Indonesia, but only three bodies have been retrieved so far as mystery remained over the cause of the crash. The bodies were spotted along with debris floating in the Java Sea off the Indonesian part of Borneo, close to the area where contact was lost with the aircraft.

Ø  To send out a signal to foreign investors that settling commercial disputes in India will no longer be a time-consuming affair, the government has decided to promulgate an Ordinance to amend the Arbitration and Conciliation Act, 1996. The Ordinance is aimed at making it mandatory for commercial disputes to be settled within nine months and also putting a cap on fee of arbitrator. The Centre has sent it to President Pranab Mukherjee for his assent. The proposed amendments stipulate that the presiding officer of a commercial dispute will have to clear the case within nine months, reported agencies quoting an unnamed official. The arbitrator will be free to seek an extension from the High Court. But in case of further delays, the High Court will be free to debar the arbitrator from taking up fresh cases for a certain period. The government had to take the Ordinance route as it wanted the reforms to be put in place at the earliest. Most of the recommendations of the Law Commission have been accepted. While some have been incorporated in the law itself, some of the recommendations will be used while framing rules. The Federation of Indian Chambers of Commerce and Industry (FICCI) said in a statement that the move would make India a more investor-friendly destination and help promote institutional arbitration.

Ø  Cash-strapped carrier SpiceJet has extended its cancellations till next month affecting over 300 flights, but the government on Tuesday made it clear that the airline will have to resolve its financial woes by itself. The Airports Authority of India is likely to put SpiceJet on the pre-payment mode from Wednesday midnight as the earlier deadline of the two-week credit window ends by that time.

Ø  In a minor reshuffle of governors, Aziz Qureshi, Governor of Uttarakhand, was transferred to Mizoram for the remainder of his term. He was appointed Governor of Uttarakhand in May 2012. Meghalaya Governor Krishan Kant Paul will replace Dr. Qureshi for the remainder of his term. Dr. Paul will also continue to hold the additional charge of the office of the Governor of Manipur till further orders, according to a press communique from Rashtrapati Bhavan. West Bengal Governor Keshari Nath Tripathi will discharge the functions of the Governor of Meghalaya.

Ø  Boosting the nation’s inland waterways network will be one of the biggest focus areas in 2015, Union Shipping and Surface Transport Minister Nitin Gadkari said. It is my dream to have an inland waterways network just like the national highways… We will try to attract foreign investment in inland waterways. The first step, he said, would be to develop the Varanasi-Haldia project for which the World Bank sanctioned Rs. 4,200 crore. The project on the Ganga would later be extended to Allahabad.

Ø  The former Editor of the Hindustan Times andThe Indian Express Boobli George Verghese died due to prolonged illness in Gurgaon.

Ø  India’s second largest IT services company Infosys said it will expand its Corporate Social Responsibility (CSR) activities in the Americas through its philanthropic arm, the Infosys foundation, USA. The company has planned an outlay of $5 million per annum for Infosys Foundation, USA.

Ø  The U.S. is set to grant $532 million aid package to Pakistan to spur economic growth, community building and counter-terrorism efforts. Ambassador Richard Olson told Pakistani Finance Minister Ishaq Dar that the grant will be disbursed soon as the U.S. Congress has already given.

Ø  Public sector Satluj Jal Vidyut Nigam Ltd. (SJVNL), a company that owns and operates India’s largest hydropower project, on Tuesday signed a pact with Hindustan Salt Ltd. to develop ultra mega hybrid renewable energy park in Gujarat. The park will be developed on the land of Hindustan Salt in Kharaghoda, which has the generation capacity of solar power from 3,500 to 4,200 MW and wind power from 600 to 800 MW. A memorandum of understanding was signed by SJVNL Chief Managing Director R. P. Singh and Hindustan Salt Chief Managing Director A. K. Jain.