Current Affairs Today – November, 10th, 2017 | Latest News and Updates

INDIAN AFFAIRS

Multi-agency group reconstituted to probe Paradise Papers

Multi-agency group reconstituted to probe Paradise Papers

  1. A multi-agency group (MAG) has going to start the investigation about the some of the report that has been published Paradise Papers about offshore financial holdings that also list 714 Indian individuals and entities, this announcement has done on Monday.
  2. “The Government has directed that investigations in cases of Paradise Papers will be monitored through a reconstituted Multi Agency Group, headed by the Chairman, CBDT (Central Board of Direct Taxes) having representatives from CBDT, ED (Enforcement Directorate), RBI (Reserve Bank of India) and FIU (Financial Intelligence Unit),” a Finance Ministry release said here.
  3. “Interestingly, it is an Indian company, Sun Group, founded by Nand Lal Khemka, that figures as Appleby’s second largest client internationally, with as many as 118 different offshore entities,” the report said.
  4. The report said, “Among Appleby’s Indian clients were several prominent corporates and companies which subsequently came under the scrutiny of investigating agencies like the Central Bureau of Investigation (CBI) and the Enforcement Directorate (EF).”
  5. The Panama Papers contained brief particulars of 426 persons, “prima facie Indians or persons of Indian origin. The Income Tax Department conducted enquiries in all 426 cases through 395 references to 28 foreign jurisdictions. Based on the analysis of the information obtained and investigations, the outcome so far indicates 147 actionable cases and 279 non-actionable cases.”
  6. Of the 147 actionable cases, “investigations have led to the detection of undisclosed credits of about Rs 792 crore so far,” the Ministry said.
  7. “Searches have been conducted in 35 cases and surveys done in 11 cases. In five cases, criminal prosecution complaints have been filed. In seven cases, notices have been issued under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Further investigation in all the above cases is in progress,” it added.
  8. “Interestingly, it is an Indian company, Sun Group, founded by Nand Lal Khemka, that figures as Appleby’s second largest client internationally, with as many as 118 different offshore entities,” the report said.
  9. The report of media said, “On Monday that among Appleby’s Indian clients were several prominent corporates and companies which subsequently came under the scrutiny of investigating agencies like the Central Bureau of Investigation (CBI) and the ED.”

 

 

Haryana signs MoU with Art of Living’s institute for yoga

Haryana signs MoU with Art of Living’s institute for yoga

  1. The Haryana government has signed a memorandum of understanding (MoU) with a training institute of the Art of Living Foundation on Tuesday to give the support to the jail inmates to maintain and improve their health and reduce physical and mental stress.
  2. “The state government signed the MoU with Vyakti Vikas Kendra India…in the presence of Chief Minister Manohar Lal and founder of the Art of Living Foundation Sri Sri Ravi Shankar,” according to an official statement here.
  3. Later, speaking on this occasion, Dr K P Singh said, “As per the MoU, yoga, meditation and other programmes would be conducted with the help of VVKI for the welfare of prisoners on regular basis in all the prisons of the state for the willing jail inmates. No fee or cost would be charged for conducting these programmes.”
  4. He said, “It has been observed that the prison inmates who are undertrial or are convicted remain in great physical and mental stress due to various reasons. The situation results in mental depression and diseases as well. To alleviate this situation, Yoga, meditation, sudarshan kriya and life positive discourages are extremely helpful.”
  5. He said, “VVKI conduct various courses of ‘Art of Living’ and has been conducting Prison Smart(Stress Management and Rehabilitation Training) courses for prison inmates successfully all over the world. This has been found to be very helpful in making the inmates accept and face the challenges in their lives.”

 

Bombay HC allows woman with abnormal foetus to terminate pregnancy at 25 weeks

Bombay HC allows woman with abnormal foetus to terminate pregnancy at 25 weeks

  1. The Bombay high court on Monday has given the permission to the Jogeshwari resident to abort her 25-week foetus , which has been seen at the some of the severe abnormality. This was the first order of the court, which, in 2008, denied permission to a Bhayander resident who also wanted to terminate her pregnancy as the foetus had heart complications.
  2. The petitioner’s lawyer said, ” the foetus was diagnosed with Arnold Chiari malformation [type II] — a condition in which there are structural defects in the cerebellum [part of the brain at the back of the skull]. The family approached Dr Nikhil Datar, a Mumbai-based gynaecologist, who has been providing legal and medical advice to women past the 20-week legal deadline for abortion. “
  3. “In view of the peculiar situation [pertaining to the foetus’ medical complications] and having due regard of the fundamental rights conferred on the petitioner under Article 21 of the Constitution of India to live life of dignity, it will be appropriate and in the interest of justice to permit the petitioner to undergo medical termination of pregnancy under the provision of the Medical termination of Pregnancy Act, 1971,” said a bench of justice Shantanu Kemkar and justice G S Kulkarni on Monday.
  4. The bench said, “This was very difficult for to refuse permission to the petitioner because the court is certain that if the child is born it will be physically handicapped for life, which cannot be avoided.”

 

 

Prakash Javadekar inaugurates ‘Chintan Shivir’ in New Delhi

  1. Union HRD Minister Shri Prakash Javadekar has started the two-day National Workshop ‘Chintan Shivir’ organized by Department of School Education and Literacy, Ministry of Human Resource Development in New Delhi on Tuesday. The main aim of this put the workshop to goive the boost to holistic education relevant for 21st century India and to take many of the stakeholders nad many of the NGOs, private sector and individuals to deliberate on key themes in the education sector.
  2. Speaking on the occasion HRD Minister Shri Prakash Javadekar has given the praise to the officers of the ministry for organizing the workshop by which we can learn from the best practices of each other. He also stated that this workshop will mainly focus on the five themes i.e. Digital education, Life Skill education, Experimental learning, Physical Education and Value education.
  3. He envisaged ‘Operation Digital Board’ to be operational in all the schools of the country in the coming years. He said, “government and various other organisations working in the field of education should do content Aggregation and create a common digital platform to provide digital education for all the students of the country.” The Minister said, “Education is incomplete without Physical Education. Students must do exercise, yoga, aerobics, running depending upon their choice to stay fit and healthy.” The Minister further said, “Life skill education and value education is the need of the hour and one must inculcate these attributes in his behavior for the holistic development.”
  4. Speaking on the occasion MoS, HRD Shri Satyapal Singh said, “The main aim of the education is to provide complete development of a person and to inculcate humanity in them. He said complete development involves development of human body, mind, wisdom and soul. He further said that human body can be developed by teaching physical education and wisdom can be gained by value education. We must teach our children the value of life and education. He appreciated the efforts of the organizers and wished them all the success in future endeavors. “

KEYS:

  1. The Ministry of Human Resource Development, formerly Ministry of Education, is responsible for the development of human resources in India
  2. Website: mhrd.gov.in
  3. Formed: 26 September 1985
  4. Jurisdiction: India
  5. Headquarters: Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi
  6. Cabinet minister: Prakash Javadekar
  7. Minister of state: Upendra Kushwaha, Mahendra Nath Pandey

 

INTERNATIONAL AFFAIRS

India slips to 7th position in business optimism ranking

India slips to 7th position in business optimism ranking

  1. India has get slipped at the 7th position this quarter in business optimism ranking in Grant Thornton’s International Business Report (IBR) survey. In the last quarter year, India was ranked second in the survey.
  2. Indonesia is at the top, followed by Finland (2nd), the Netherlands (3rd), Philippines (4th), Austria (5th) and Nigeria (6th), as per Grant Thorntons International Business Report (IBR).
  3. “Other parameters like expectations of increase in selling prices and exports have also suffered a slight fall in optimism in this quarter,” the survey said.
  4. “There were clear signs of lag in the economy which caused the drop in ratings, Grant Thornton India LLP Partner,” India leadership team Harish HV said.
  5. “However, the Government actions and reforms coupled with the significant jump in Ease of Doing Business Rankings should bring back optimism in Indian Business in the next few quarters,” he said.
  6. “Profits are under pressure. Wage bills are firmly on the rise as businesses try to tackle the skilled worker shortage. Its an issue that is becoming acute,” Grant Thornton Global Leader Francesca Lagerberg said adding that “9 in 10 of the worlds largest economies have reduced their profit outlook for the coming year”.
  7. “The government actions and reforms coupled with the significant jump in Ease of Doing Business Rankings should bring back optimism in Indian Business in the next few quarters,” Harish HV said.

 

 

EU launches Election Observation Mission for Nepal polls

EU launches Election Observation Mission for Nepal polls

  1. The European Union Election Observation Mission has launched the one of the officially for the monitor the general and provincial polls in Nepal which are scheduled for November 26 and December 7.
  2. “Around 100 election observers from member countries of the European Union (EU) have been deployed to oversee the polls in the Himalayan nation,” an official said.
  3. “It is a great privilege to have been given this opportunity to lead the EU Election Observation Mission to Nepal,” Chief Observer Zeljana Zovko, a member of the European Parliament from Croatia told a press conference here.
  4. “The elections scheduled on November 26 and December 7 mark an important stage in Nepal’s democratic development and I very much hope that our presence will contribute to an inclusive and transparent electoral process,” she remarked.
  5. “The EU Election Observation Team will also be joined by a seven member parliamentary delegation from the European Union as well as diplomats from European countries’ missions in Nepal,” said a press release issued by the EUEOM.
  6. It said, “The long- and short-term election observers would be joined by a delegation of seven members of the European Parliament as well as diplomats from European embassies in Nepal, bringing the total number of EU observers over the two phases of the elections to more than 100.”
  7. The mission said, “It would issue a preliminary statement of its initial findings shortly after the second and final phase of elections, and a more comprehensive final report, including recommendation for future elections, would be published afterwards.”

KEYS:

  1. The European Union is a political and economic union of 28 member states that are located primarily in Europe
  2. It has an area of 4,475,757 km², and an estimated population of over 510 million
  3. Headquarters: City of Brussels, Belgium
  4. Capital: Brussels (de facto)
  5. Founded: 1 November 1993, Maastricht, Netherlands
  6. Members: Germany, Poland, United Kingdom, Croatia, France, MORE
  7. Founders: Germany, France, Italy, Netherlands, Belgium, Luxembourg
  8. European Union has the largest crude oil imports (11,658,750 barrels / day) in the world.

BANKING AND FINANCE

India inks $119 mn loan pact with WB for Odisha’s education scheme

India inks $119 mn loan pact with WB for Odisha’s education scheme

  1. India on Tuesday has singed a loan agreement with World Bank for USD 119 million for the improvement of the quality of the students’ equitable access to selected institutions in Odisha, an official statement said.
  2. The financing agreement for the International Bank for Reconstruction and Development (IBRD) loan equivalent to USD 119 million that for the state Odisha Higher Education Programme for Excellence and Equity (OHEPEE) Project.
  3. “The objective of the project is to improve the quality of students’ equitable access to selected institutions and enhance governance of the higher education system in Odisha,” the release said.
  4. “The closing date for the project is November, 2022,” the release added.

KEYS:

  1. The World Bank is an international financial institution that provides loans to countries of the world for capital programs
  2. President: Jim Yong Kim
  3. CEO: Kristalina Georgieva (2 Jan 2017–)
  4. Headquarters: Washington, D.C., United States
  5. Subsidiaries: International Finance Corporation,
  6. VPs: Antonella Bassani (Budget, Performance Review, Strategic Planning),
  7. Parent organization: United Nations

 

Bank of China begins operations in Pak, opens first branch in Karachi

Bank of China begins operations in Pak, opens first branch in Karachi

  1. Bank of China has started its one of the mission in the Karachi of the Pakistan, with its first branch inaugurated in Karachi on Tuesday.
  2. Speaking to the inauguration ceremony in Islamabad, Bank of China Chairman Chen Siqing said it was “a great honour” for the bank to be launching in Pakistan, observing that the Karachi branch was its first in South Asia.
  3. He said, “The bank would strengthen the “brotherly relations” between the two countries in the financial sector.”
  4. Siqing said, “China’s progressive and fast-paced economy was ready to enter an era of high-grade standards, and emphasised that the Bank of China could help Pakistan effectively reap the benefits of China’s economic prosperity.”
  5. Addressing the ceremony, Acting Chinese Ambassador to Pakistan said Pakistan’s economy was “picking up quickly” and that the opening of the Bank of China “marked the confidence of the Chinese corporate sector in Pakistan’s economic situation.”
  6. “With the initiation of CPEC, the infrastructure sector in Pakistan is witnessing splendid growth with projects — including dams, atomic reactors, coal mining, textile parks, road and railway lines and oil and gas pipelines — being constructed at a brisk pace. He credited the government’s sound economic policies for the environment for investments becoming very favourable.” said CPEC had further increased its importance.

KEYS:

  1. Bank of China is one of the 5 biggest state-owned commercial banks in China
  2. It was founded in 1912 by the Republican government to replace the Daqing Bank
  3. It is the oldest bank in mainland China still in existence
  4. Headquarters: Beijing, China
  5. Total assets: 16.79 trillion CNY (2013)
  6. Number of employees: 310,042 (2016)
  7. Subsidiaries: BOC International, Bank of China (Hong Kong), MORE
  8. Parent organization: Central Huijin Investment
  9. Bank of China is the fourth-largest bank in the world by total assets ($2,964.32 B).

 

Syndicate Bank forms human chain to fight Corruption

  1. Syndicate Bank has created the human chain to spread the awareness among the public to fight corruption.
  2. Melywyn Rego, Managing Director and CEO, SS Mallikarjuna Rao and S Krishnan, Executive Directors, Prabhakara Rao, Chief Vigilance Officer, Bhaskar Hande, General Manager and also other General Managers, Regional Managers and staff took part.

 

Insolvency resolution norms made stringent

Insolvency resolution norms made stringent

  1. To give the approval to the resolution plans that has submitted under the insolvency law, there has been the strict law has been created wherein an applicant’s antecedents and credit worthiness will be checked.
  2. “Now prior to approval of a resolution plan, the resolution applicants, including promoters, will be put to a stringent test with respect to their credit worthiness and credibility,” an official release said today.
  3. The committee of creditors would consider “The antecedents, credit worthiness and credibility of a resolution applicant, including promoters”.
  4. “The revised regulations make it incumbent upon the resolution professional to ensure that the plan presented contains relevant details to assess credibility of the resolution applicants,” the release said.
  5. The resolution applicants’ details in terms of “convictions, disqualifications, criminal proceedings, categorisation as wilful defaulter as per RBI guidelines, debarment imposed by Sebi, if any,” would have to be disclosed.
  6. With these changes, the “resolution applicants, including promoters, are put to a stringent test with respect to their credit worthiness and credibility”, the release said.
  7. “The amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016 impose a greater responsibility on resolution professionals and the committee of creditors in discharging their duties,” it added.

 

Science and Technology

Twitter officially doubles character limit to 280

Twitter officially doubles character limit to 280

  1. At the thought about the twitter in the social aspect there are the many of the negative thought has been arise at the nonstop harassment, Russian propaganda and a president threatening potential nuclear war.
  2. “We are making this change after listening and observing a problem our global community was having (it wasn’t easy enough to Tweet!), studying data to understand how we could improve, trying it out, and listening to your feedback,” Twitter product manager Aliza Rosen wrote in a blog post
  3. “They change their narrative in the news cycle by responding to user feedback. It will be pretty interesting to see what President Trump does with it, for sure,” she said.
  4. “What matters now is we clearly show why this change is important, and to prove to you it’s better,” he said. “Give us some time to learn and confirm (or challenge!) our ideas.”
  5. “During the first few days of the test, many people tweeted the full 280 limit because it was new and novel, but soon after behavior normalized,” Rosen wrote. “We saw when people needed to use more than 140 characters; they tweeted more easily and more often. But importantly, people tweeted below 140 most of the time, and the brevity of Twitter remained.” She then posted separate internal-study articles from Twitter engineers.

KEYS:

  1. Twitter is an online news and social networking service where users post and interact with messages, called “tweets.”
  2. CEO: Jack Dorsey
  3. Headquarters: San Francisco, California, United States
  4. Stock price: TWTR (NYSE) US$ 19.59 +19.59 (+9,96,339.44%)
  5. 8 Nov, 4:01 PM GMT-5 – Disclaimer
  6. Founders: Jack Dorsey, Biz Stone, Noah Glass, Evan Williams
  7. Subsidiaries: MoPub, Crashlytics, We Are Hunted, Gnip,

SPORTS

Mitchell Starc makes history with two hat-tricks in one game

Mitchell Starc makes history with two hat-tricks in one game

  1. Starc has ended the match that has started as the one of the seven for 97 in NSW’s 171-run victory.
  2. He also scored the one of his career’s best that is the 8-73 for NSW against South Australia under lights at Adelaide Oval and looks in ominous touch ahead of the Test series.
  3. Australia has taken over the England in the first of five Ashes Test matches in Brisbane, starting on November 23.
  4. Australian leg-spinner Jimmy Matthews remains the only player to take two hat tricks in a Test match after he did it against South Africa in Manchester in 1912.

 

AWARDS & RECOGNITION

Novel on Hitler’s rise wins France’s top book award

Novel on Hitler’s rise wins France’s top book award

  1. There are the two novels in which there has been the written about the Nazis took France’s biggest literary prizes on Monday, with Eric Vuillard’s story of how German industry and finance backed Adolf Hitler winning the top Prix Goncourt.
  2. “L’ordre du jour” (in English “Agenda”) had been among the favourites for the Goncourt prize — the most prestigious in the French-speaking world.
  3. Vuillard, who is the 49 years old, said he was taken aback on hearing he won for his elegant, 160-page book which charts how the financial support of German industrialists was crucial to Hitler’s rise.
  4. “One is always surprised, sometimes fatally,” he told reporters at the Paris restaurant where the winner was announced.
  5. Asked whether the book was a warning for our own populist times, the writer said he wanted to set out how the “elites and industrialists slid into a situation where they compromised themselves”.
  6. “We did not choose the winner on the basis of the sex or origin of the writer, nor their publishers,” said the doyen of French letters Bernard Pivot, who chairs the jury.

 

OBITUARY

Antonio Carluccio: ‘Godfather of Italian cooking’ dies

Antonio Carluccio: 'Godfather of Italian cooking' dies

  1. Celebrity chef and restaurateur Antonio Carluccio has died at the age of 80 years, his agent has said.
  2. He was best known for and famous for his Italian restaurant chain that carries his surname and for appearing on TV programmes, including the BBC Two hit Two Greedy Italians, alongside chef Gennaro Contaldo.
  3. “It isn’t just Antonio’s name above our doors, but his heart and soul lives and breathes throughout our restaurants,” a statement from the Carluccio’s restaurant chain said.
  4. “He was such a charismatic charming don of all things Italian. Always hanging out the front door of the restaurant with a big fat cigar, a glass of something splendid and his amazing fuzzy white hair. Viva Antonio Carluccio… Cook a feast up there mate” Oliver wrote on Instagram.

 

Sandeep Kumar

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