GK Update: January 15th & 19th, 2016.

FIPB clears 5 FDI proposals worth Rs. 6,050 cr.

The Government approved five foreign investment proposals, involving an inflow of Rs. 6,050 crore, including a Rs. 5,000-crore plan of Cadila Healthcare for fresh equity infusion.

Union Budget on Feb 29.

Minister of State for Finance Jayant Sinha said the government will present the Budget for 2016-17 on February 29, which will set a roadmap for the coming three years.

SBI enters into wealth management space; opens branch for start-ups.

State Bank of India today became the first public sector lender to launch wealth management service, a space dominated by private and foreign players, to cater to fast-growing affluent segment of the country.

Don’t change the goalpost every day, automakers tell government.

Automobile companies raised serious concerns over the government’s decision to fast-track implementation of clean vehicular fuel norms and sought a clear road map on the issue, “rather than moving the goalpost.”

Government to hold talks with WIPO.

Commerce and Industry Ministry will hold discussions with the World Intellectual Property Organisation (WIPO), the global body for promotion and protection of intellectual property rights (IPR), before approaching the cabinet for clearance of the national IPR policy.

Facebook’s COO gives $ 31 million in stock to charity.

Facebook COO Sheryl Sandberg has donated USD 31 million in Facebook stock to charity, days after her boss Mark Zuckerberg pledged to give away 99 per cent of his company shares.

Tata Housing may tie up with Amazon for online property sale.

Realty major Tata Housing is in talks with online marketplace Amazon India for marketing of its properties. Tata Housing, the real estate arm of the Tata group, sold over 2,000 apartments through online platform in the last two years. Tata Housing is in talks with Amazon India to sell its portfolio of premium and luxury properties across eight cities, sources said. The company spokesperson declined to comment.

Apple to start charging for iTunes Radio.

Apple Inc said it will soon start charging for iTunes Radio, its music-streaming service that competes with Pandora Media Inc.

SpaceX success launches space startups to new heights.

SpaceX’s successful landing of a reusable rocket booster in December, 2015 opens a new frontier for commercial space startups by offering tremendous cost savings and attracting venture capitalists who once shied away from spatial ventures.

Start up India: This is the beginning of big bang start up boom in India, says Softbank CEO.

Finance Minister Arun Jaitley kick-started Prime Minister Narendra Modi’s ambitious Start-Up India mission at Vigyan Bhavan in New Delhi.

Budget will introduce friendly tax regime: Jaitley.

Union Finance Minister Arun Jaitley said that the NDA Government, along with the Reserve Bank of India, will shore up the lending capacity of banks over the next few months.

WeWork plans India foray very soon, says founder Neumann.

WeWork, a New York-based provider of shared office space, is planning to set up a business in India, founder Adam Neumann said at a conference on start-up businesses.

Govt. may lower long-term capital gain tax for unlisted companies.

Government hinted at lowering the long-term capital gain tax on investments made in unlisted firms, particularly startups, in the Budget for the next financial year, to bring them closer to the levels prevalent for the listed companies.

Fear is the disease and hustle is the antidote, always be Jugaading: Uber CEO.

The challenges in Indian market as well as the competition made Uber Technologies Inc, the car-sharing service that lets people order transportation via a smartphone, change many of its strategies, said a top Uber executive at the Startup India event.

‘Silicon Valley firms resemble Redwood trees, Indian companies are Banyans’.

Having a great relationship with customers, building a quality team and not diverting from the company’s core business are some of the ingredients to build successful global companies, according to the top Silicon Valley and Indian entrepreneurs.

Somnath Temple to invest in Gold Monetisation Scheme.

The Somnath Temple is all set to become Gujarat’s first temple to deposit its idle gold in the Gold Monetisation Scheme as its trustees, including Prime Minister Narendra Modi, have given their nod to invest the yellow metal reserves in the scheme.

AIIB formation signals structural alignment of Europe and Asia.

New structural linkages between Europe and Asia through three developmental banks that have emerged outside the post-war Bretton Woods framework are changing the global geopolitical architecture, with Eurasia at the core.