Predatory pricing
Commerce and Industry Minister Piyush Goyal said he wanted online players to ensure fair play and honesty in their business practices.
- Practice of setting prices extremely low with the intent to eliminate competition.
- Once competitors are driven out, the dominant firm can raise prices to recoup losses.
- Considered illegal under antitrust laws as it can lead to monopolistic practices.
- Competition Commission of India investigates cases where companies are accused of predatory pricing to ensure fair competition
Flash PMI
Flash PMI signals slight dip in private sector activity this month
- An early estimate of the Purchasing Managers’ Index (PMI) for a given month, based on approximately 85-90% of total PMI survey responses.
- Components – Manufacturing PMI (for manufacturing sector) and Services PMI (services sector)
- Calculation – Based on surveys of purchasing managers in various industries, covering aspects like new orders, inventory levels, production, supplier deliveries, and employment.
- Release – Typically released a few days before the final PMI data, giving an early indication of economic trends
Watersprout
Waterspout was reported near the coast of Sicily (Italy).
- A column of cloud-filled wind rotating over a water body.
- However, it is not filled with water from the ocean or lake.
- Instead, it descends from a cumulus cloud and the water inside it is formed by condensation in the cloud.
- Conditions for formation – High levels of humidity and relatively warm water temperatures compared to the overlying air.
- Regions for formation – Most common in tropical and subtropical waters.
Kamchatka Peninsula
Powerful earthquake in Russia’s Far East triggered Shiveluch volcano in Kamchatka Peninsula
- Location – Lies between the Sea of Okhotsk on the west and the Pacific Ocean and Bering Sea on the east.
- Mountain ranges – Sredinny and Vostochny.
- River – Kamchatka River
- Climate – Mostly Tundra Climate
Tera Herts waves
TRAI has recommended establishing Tera Hertz Experimental Authorisation to develop innovative new technologies and services in the Tera Hertz band.
- Refers to electromagnetic waves at the frequency of 0.1–10 THz, which lies between the microwave and infrared regions of the spectrum.
- Applications of THz – Space-based communication, Short-range wireless communication. Security applications (like solid explosive material detection) and Biomedical imaging and body surface diagnoses.