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National:

Direct benefit transfer system launched in DelhiUnited Progressive Alliance chairperson Sonia Gandhi has launched the Delhi governments ambitious foodsecurity programme, Dilli Annshree Yojana, a direct benefit transfer system and described it as a first-of-its-kind food security scheme integrated with the UID Aadhar in the country. The scheme, under which a

monthly cash subsidy of Rs. 600 will be directly transferred to the bank account of the seniormost femalemember of 2 lakh poor families, will help eradicate hunger from the country. Delhi government had decidedto provide assistance to 25 lakh people under the first phase. The purpose of this scheme, is to make surethat the governments money being disbursed in pension, scholarship, MNREGA wage payment and socialbenefit schemes reached the beneficiaries directly, without any delay.

K.U stops screening of documentary film 'Ocean of Tears'Kashmir University authorities has stopped the screening of a film titled 'Ocean of Tears' which containsheart-rending visuals of conflict victims and holds the Army and paramilitary responsible for human rightsabuses in Kashmir. However, the documentary of 27-minute duration, made in Kashmiri and English, hasbeen funded by subsidiaries of the Union Ministry of Information and Broadcasting (MIB), and has also beencertified as legitimate by the Central Board of Film Certification (CBFC).

Pravasi Bharatiya Divas to be held in Kochi

Prime Minister Manmohan Singh will inaugurate the Pravasi Bharatiya Divas in Kochi on January 8. About1,500 delegates from various countries would attend the three-day programme. Mauritius PresidentRajkeswur Purryag would be the chief guest at the official inaugural session.

International:

UNs World Conference on Internet and Telecommunications (WCIT)In a sensational development that impacts the Internet, a group of mainly African nations moved and won aresolution accompanied by a set of binding treaty-based International Telecom Regulations (ITRs) at theUNs World Conference on Internet and Telecommunications (WCIT) in Dubai. The move was supported byChina, Russia and mostly Arab states. 89 countries had endorsed the global treaty on telecom regulations,with nearly 45 nations led by the United States, the U.K., the European Union, Japan, Australia and evenKenya, either refusing to sign or buying time to study the proposals. India, which initially backed the ITRs

and the accompanying resolution during a sudden vote, later announced that it would sign the Treaty onlyafter consultation with domestic stakeholders. Governments do not have to sign immediately and have untilJanuary 1, 2015 to ratify the Treaty. Mohamed Nasser Al Ghanim, Director General of the TelecomRegulation Authority of UAE is the chairman of WCIT.

Former KGB agent receives largest pay-off in Russian corporate historyA former KGB agent, who served as the chief executive of a Russian mining group would be receiving a 100million dollar golden parachute pay-off, which would be the largest pay-off in the country''s corporate history.Vladimir Strzhalkovsky will receive the money for his part in bringing to an end a 1.4 billion dollar disputebetween Oleg Deripaska and Vladimir Potanin over rights at Norilsk that saw Chelsea FC owner RomanAbramovich help to referee a deal between the Russian oligarchs. Potanin, who become chief executive ofNorilsk, the world''s largest producer of nickel and palladium. Severance payments have never exceeded 20million dollars in Russia before. The largest ever golden parachute was awarded to John Welch, the formerchief of General Electric. Welch received more than 400 million dollars, according to GMI Ratings.

Third mission in SittweIndia will open a consulate at Sittwe, a sea port on the Myanmarese flank of the Bay of Bengal, becomingthe first country to have three missions in the country. China and India have their embassies in the nationalcapital and consulates in Mandalay. Sittwe port, about 550 km from Kolkata, is slated to see considerableIndian activity soon after it becomes the mouth of a maritime-cum-road route to Indias North-East as analternate to Indias sole link to the region via the congested Siliguri corridor.

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India, Sri Lanka and the Maldives to sign agreement on maritime cooperationIndia, Sri Lanka and the Maldives will soon sign a trilateral agreement on maritime cooperation to poolresources and share data for better control over territorial waters and detect suspicious movements. Indiahad also agreements with Royal Thai and the Indonesian naval forces to conduct coordinated patrolling inthe east, around the region of the Malacca Straits. India has posted a Military Attach (MA) in the Maldives.

So far, the MA based in Sri Lanka was also in charge of the Maldives. Captain R.S. Sunil, based at theEastern Naval Command Headquarters at Visakhapatnam, took charge as MA last week at Male. He is thefirst MA to be based in the Maldives. India trains the Maldivian National Defence Forces and its police. OnlyIndia, Pakistan, Sri Lanka, Bangladesh and China have diplomatic posts in the Maldives. All the others eitheroperate out of Colombo or New Delhi.

Business & Economy:

Naina Lal Kidwai takes over as Ficci PresidentCountry Head of HSBC India Naina Lal Kidwai has took over as President of Ficci, becoming the first womanto head the leading industry body. Master of Business Administration from Harvard Business School, she hasbeen recognised in India and abroad with several awards and has won global listings as "Top women inbusiness" in the Fortune and "15 Global Influentials in 2002". She is also a recipient of the country's

prestigious civilian award Padma Shri for her contribution to trade and industry

Wipro wins award in UK for best offshoring projectWipro Technologies has won the 'Offshoring Project of the Year' award at the 2012 National OutsourcingAssociation (NOA) Awards in the UK. Now in its ninth year, the annual NOA Awards recognise best practicesin outsourcing projects. Wipro has been recognised for its transformational service excellence initiatives atBT aimed at achieving BT's service objectives of 'Right First Time' and 'Reduced Cycle Time',

Bombay Stock Exchange launches SME index that tracks investor wealthThe Bombay Stock Exchange (BSE) has launched an SME index that aims at tracking the current primarymarket conditions in the Indian capital market and measure the growth in investors' wealth over a period. Theindex will be constituted by SMEs listed on the BSE SME platform. So far, there are 11 companies listed onthe SME platform and this index will have features similar to the BSE IPO index. "This index will help to trackand measure the growth of the companies over a period. Through this, the authorities can recognise the

viability of the company.

Sport:India annihilate Pakistan to retain Kabaddi World Cup titleIndian men's kabaddi team put in a stellar performance as they literally thrashed archrivals Pakistan 59-22 inthe finals of the 3rd Kabaddi World Cup in Punjab. The Indian team got richer by handsome prize money ofRs 2 crore, which was more than double that they got in the second edition of the Kabbadi World Cupwhereas the Pakistani team got Rs 1 crore for bagging the runners-up position.The Canadian team whichfinished third got Rs 51 lakhs for their feat. 16 nations participating and has propelled Kabaddi onto theinternational map as it won't be long that the game might be included in Olympics too.

Ryan Lochte sets second successive world record

American star Ryan Lochte kept up his phenomenal form at the World Short Course Championships whenhe set a world record 50.71sec in the men's 100m individual medley semifinals. The five-time Olympicchampion broke the 200m individual medley world record on his way to winning his fourth gold of thechampionships. Australia's Kenneth To recorded the second fastest time with 51.47 and George Bovell ofTrinidad and Tobago was third with 51.66. In the women's 200m individual medley, China's Ye Shiwenattacked in the final 25m to win gold as she touched the wall in 2:04.64 to record a championship record andwin her first world short course gold after having previously won three silver. Katinka Hosszu of Hungary heldon to win silver with 2:04.72 for her fourth medal of the championships, while Great Britain's Hannah Mileyovercame a sluggish first 150m to win bronze with 2:07.12 to add to her 400m individual medley gold.

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Sebastian Vettel and Michael Schumacher win Race of ChampionsGermany, represented by Formula One world champions Sebastian Vettel and Michael Schumacher, wonthe Race of Champions team crown for the sixth successive year in Bangkok.

HIL signs de Nooijer as brand ambassadorHockey India League (HIL) has signed legendary Dutchman and three-time FIH World Player of the Year

Teun de Nooijer as its third Brand Ambassador for the tournament starting in January 2013.

Jeev honouredIndian golfer Jeev Milkha Singh won the Asia Pacific Lifetime Achievement award along with Jack Nicklausand Colin Montgomerie

Indian women clinch titleThe Indian womens team defeated Malaysia 72-12 to win a one-sided final of the kabaddi World Cup. TheIndians were leading 42-6 at the end of first-half. Raiders Priyanka Devi (13), Priyanka Pilaniya (8) andSukhwinder Kaur (8 points) shone for the winner.