1st SEPTEMBER CURRENT AFFAIRS
CURRENT AFFAIRS
IMPORTANT DAYS
National Sports Day 2017: 29 August 2017
National Sports Day in India is celebrated on August 29, the birthday of Dhyan Chand, one of the greatest field hockey players of all time. Dhyan Chand won gold medals for India in Olympics in the years 1928,1932 and 1936. National Sports Awards such as Arjuna and Khel Ratna are conferred on selected athletes by the President of India every year, on this day. The National Hockey stadium in Delhi was renamed as Dhyan Chand National Stadium in 2002. The National Sports Day celebrations are a commemoration of his achievements. The day is also known as Rashtriya Khel Divas. The Major Dyanchand Awards conferred on athletes is the highest award for lifetime achievement in sports and games in India.
CURRENT AFFAIRS
IMPORTANT DAYS
National Sports Day 2017: 29 August 2017
National Sports Day in India is celebrated on August 29, the birthday of Dhyan Chand, one of the greatest field hockey players of all time. Dhyan Chand won gold medals for India in Olympics in the years 1928,1932 and 1936. National Sports Awards such as Arjuna and Khel Ratna are conferred on selected athletes by the President of India every year, on this day. The National Hockey stadium in Delhi was renamed as Dhyan Chand National Stadium in 2002. The National Sports Day celebrations are a commemoration of his achievements. The day is also known as Rashtriya Khel Divas. The Major Dyanchand Awards conferred on athletes is the highest award for lifetime achievement in sports and games in India.
NATIONAL
KSTDC announces special Golden Chariot packages for Dasara
The Department of Tourism through Karnataka State Tourism Development Corporation (KSTDC) has planned to launch “Dasara Special Tour Package” in Golden Chariot Luxury Train to promote the State festival. Golden Chariot is the South India’s first and only luxury tourist train run by KSTDC.it would provide an excellent opportunity to people to experience royalty on board, which would showcase the Nadahabba, Mysuru Dasara and its grandeur. This would be a unique opportunity for people to witness Dasara as a royal guest and also experience the great train journey at a subsidized cost.
KSTDC announces special Golden Chariot packages for Dasara
The Department of Tourism through Karnataka State Tourism Development Corporation (KSTDC) has planned to launch “Dasara Special Tour Package” in Golden Chariot Luxury Train to promote the State festival. Golden Chariot is the South India’s first and only luxury tourist train run by KSTDC.it would provide an excellent opportunity to people to experience royalty on board, which would showcase the Nadahabba, Mysuru Dasara and its grandeur. This would be a unique opportunity for people to witness Dasara as a royal guest and also experience the great train journey at a subsidized cost.
ICEX launches world's first diamond futures contracts
The Indian Commodity Exchange (ICEX) launched the world's first diamond futures contracts on Monday to provide exporters with a hedging tool.India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished. At the launch, the first diamond contract for delivery in November was traded at Rs 3,279/cent. One cent is the one-hundredth of a carat (ct). ICEX has launched 1 ct diamond futures contract for delivery in November and followed by contracts with monthly settlements. 50 cents and 30 cents contracts will be introduced after making the initial contract successful. The 1-carat contract for expiry in November, December and January will have delivery centre at Surat.The merger of Ahmedabad-based National Multi Commodity Exchange (NMCE) into ICEX was also announced. ICEX will soon approach the National Company Law Tribunal (NCLT), Ahmedabad, to initiate the merger procedure. After merger clearance, ICEX would automatically get approval for the launch of some agricultural commodities like rubber, coffee.ICEX will offer HVS2 quality diamond certified by the International Institute of Diamond Grading & Research (IIDGR), a De Beers group company, and vaulting services will be offered by Malca Amit.
The Indian Commodity Exchange (ICEX) launched the world's first diamond futures contracts on Monday to provide exporters with a hedging tool.India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished. At the launch, the first diamond contract for delivery in November was traded at Rs 3,279/cent. One cent is the one-hundredth of a carat (ct). ICEX has launched 1 ct diamond futures contract for delivery in November and followed by contracts with monthly settlements. 50 cents and 30 cents contracts will be introduced after making the initial contract successful. The 1-carat contract for expiry in November, December and January will have delivery centre at Surat.The merger of Ahmedabad-based National Multi Commodity Exchange (NMCE) into ICEX was also announced. ICEX will soon approach the National Company Law Tribunal (NCLT), Ahmedabad, to initiate the merger procedure. After merger clearance, ICEX would automatically get approval for the launch of some agricultural commodities like rubber, coffee.ICEX will offer HVS2 quality diamond certified by the International Institute of Diamond Grading & Research (IIDGR), a De Beers group company, and vaulting services will be offered by Malca Amit.
INTENATIONAL
India, Germany ink pact to boost green energy ties
India has entered into a pact with Germany to improve parameters for grid integration of renewable energies. The Ministry of New and Renewable Energy (MNRE) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH India on behalf of Germany signed an agreement on technical cooperation under the "Indo-German Energy Programme - Green Energy Corridors (IGEN-GEC)" This relationship between GIZ and India will result in improved market mechanisms and regulations and help train manpower in India to ensure grid stability to ensure more and more integration of renewables in the country GIZ and MNRE will work on improving market mechanisms and regulations for integration of renewable energies, advancing technical and institutional conditions in specified target states, regions and on a national level, adding human capacities to handle systemic (strategic, managerial, financial, technical) renewable energies integration in an efficient and effective manner.
India, Germany ink pact to boost green energy ties
India has entered into a pact with Germany to improve parameters for grid integration of renewable energies. The Ministry of New and Renewable Energy (MNRE) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH India on behalf of Germany signed an agreement on technical cooperation under the "Indo-German Energy Programme - Green Energy Corridors (IGEN-GEC)" This relationship between GIZ and India will result in improved market mechanisms and regulations and help train manpower in India to ensure grid stability to ensure more and more integration of renewables in the country GIZ and MNRE will work on improving market mechanisms and regulations for integration of renewable energies, advancing technical and institutional conditions in specified target states, regions and on a national level, adding human capacities to handle systemic (strategic, managerial, financial, technical) renewable energies integration in an efficient and effective manner.
Five year anti-dumping duty on sodium nitrite imports from China
The Finance Ministry has imposed a five year anti-dumping duty on Sodium Nitrite imports from China.Deepak Nitrite Ltd had filed the petition, which was also supported by Punjab Chemicals & Crop Protection Ltd, seeking sunset review investigations on Sodium Nitrite imports from China, sources said.There are two more producers of Sodium Nitrite in the country - National Fertilisers Ltd and Rashtriya Chemicals and Fertilisers Limited.Based on the recommendations of the Designated Authority in the Commerce Ministry in its final findings of its third sunset review investigations, the revenue department has imposed definitive anti-dumping duty of $ 72.95 per tonne on Sodium Nitrite imports from China.Sodium Nitrite is an oxidising and also a reducing agent. It is a white crystalline powder mostly used in the pharmaceutical and dye industries, lubricants, lubricants, construction chemicals, rubber blowing agent, meat processing, and textiles.
The Finance Ministry has imposed a five year anti-dumping duty on Sodium Nitrite imports from China.Deepak Nitrite Ltd had filed the petition, which was also supported by Punjab Chemicals & Crop Protection Ltd, seeking sunset review investigations on Sodium Nitrite imports from China, sources said.There are two more producers of Sodium Nitrite in the country - National Fertilisers Ltd and Rashtriya Chemicals and Fertilisers Limited.Based on the recommendations of the Designated Authority in the Commerce Ministry in its final findings of its third sunset review investigations, the revenue department has imposed definitive anti-dumping duty of $ 72.95 per tonne on Sodium Nitrite imports from China.Sodium Nitrite is an oxidising and also a reducing agent. It is a white crystalline powder mostly used in the pharmaceutical and dye industries, lubricants, lubricants, construction chemicals, rubber blowing agent, meat processing, and textiles.
Kenya just imposed the world's toughest law against plastic bags
Kenyans producing, selling or even using plastic bags will risk imprisonment of up to four years or fines of $40,000 from Monday, as the world's toughest law aimed at reducing plastic pollution came into effect.The East African nation joins more than 40 other countries that have banned, partly banned or taxed single use plastic bags, including China, France, Rwanda, and Italy.Many bags drift into the ocean, strangling turtles, suffocating seabirds and filling the stomachs of dolphins and whales with waste until they die of starvation.Kenya's law allows police to go after anyone even carrying a plastic bag.
Kenyans producing, selling or even using plastic bags will risk imprisonment of up to four years or fines of $40,000 from Monday, as the world's toughest law aimed at reducing plastic pollution came into effect.The East African nation joins more than 40 other countries that have banned, partly banned or taxed single use plastic bags, including China, France, Rwanda, and Italy.Many bags drift into the ocean, strangling turtles, suffocating seabirds and filling the stomachs of dolphins and whales with waste until they die of starvation.Kenya's law allows police to go after anyone even carrying a plastic bag.
BANKING
Fringe benefits availed by employees liable to GST
The new Goods and Services Tax (GST) will be applicable on any non-monetary fringe benefit an employee gets from his employerMonetary compensation paid to employees is not considered supply and will not attract GSTThe monetary income will, however, continue to attract the relevant income tax.The compensation to employees in the form of money is not a supply. However, fringe benefits are a supply of goods or services and are liable to tax if not exemptedThe fringe benefits are transactions in furtherance of business.
Fringe benefits availed by employees liable to GST
The new Goods and Services Tax (GST) will be applicable on any non-monetary fringe benefit an employee gets from his employerMonetary compensation paid to employees is not considered supply and will not attract GSTThe monetary income will, however, continue to attract the relevant income tax.The compensation to employees in the form of money is not a supply. However, fringe benefits are a supply of goods or services and are liable to tax if not exemptedThe fringe benefits are transactions in furtherance of business.
Airtel ties up with Symantec to offer cyber security solutions
As it looks to cater to the growing cyber security requirements of businesses in India, country's top mobile operator Bharti Airtel has partnered with Symantec to provide cyber defense to enterprises.As part of the tie-up, Airtel will be the exclusive cyber security services partner for Symantec and will distribute the latter's enterprise security software, primarily targeting its existing enterprise customers.The partnership between the two companies has been announced amid the growing number of cyber-attacks in India as well as in the world.The government also has realised the importance of cyber security and is working on to strengthen the cyber security infrastructure of the country.Through the partnership with Symantec, Airtel will help its enterprise customers to secure their systems.
As it looks to cater to the growing cyber security requirements of businesses in India, country's top mobile operator Bharti Airtel has partnered with Symantec to provide cyber defense to enterprises.As part of the tie-up, Airtel will be the exclusive cyber security services partner for Symantec and will distribute the latter's enterprise security software, primarily targeting its existing enterprise customers.The partnership between the two companies has been announced amid the growing number of cyber-attacks in India as well as in the world.The government also has realised the importance of cyber security and is working on to strengthen the cyber security infrastructure of the country.Through the partnership with Symantec, Airtel will help its enterprise customers to secure their systems.
APPOINTMENTS &RESIGNATION
HSBC India investment banking head Sunil Sanghai quits
Foreign lender HSBC India's vice chairman and investment banking head Sunil Sanghai quit the British banking giant today and joined hands with the Dinesh Kanabar-promoted tax and regulatory firm Dhruva Advisors to start a merchant banking division. Sanghai, who has been occupying the current position since March 2016 and with HSBC since 2010, quit the bank earlier during the day.
HSBC India investment banking head Sunil Sanghai quits
Foreign lender HSBC India's vice chairman and investment banking head Sunil Sanghai quit the British banking giant today and joined hands with the Dinesh Kanabar-promoted tax and regulatory firm Dhruva Advisors to start a merchant banking division. Sanghai, who has been occupying the current position since March 2016 and with HSBC since 2010, quit the bank earlier during the day.
SCIENCE ,& TECHNOLOGY
Twitter launches digital education programme for media agency professionals in Asia Pacific
Twitter has kicked off its new media agency programme called #TweetToTheTop in India. Eleven agencies from global media and advertising networks including Dentsu, GroupM, IPG and Omnicom will be participating in this initiative. #TweetToTheTop is Twitter’s first year-long agency engagement programme dedicated to media executives in five countries in Asia Pacific: India, Singapore, Indonesia, the Philippines and Australia. #TweetToThetop aims to attract hundreds of young media planners and executives from the five markets to showcase their best work using Twitter solutions.
Twitter launches digital education programme for media agency professionals in Asia Pacific
Twitter has kicked off its new media agency programme called #TweetToTheTop in India. Eleven agencies from global media and advertising networks including Dentsu, GroupM, IPG and Omnicom will be participating in this initiative. #TweetToTheTop is Twitter’s first year-long agency engagement programme dedicated to media executives in five countries in Asia Pacific: India, Singapore, Indonesia, the Philippines and Australia. #TweetToThetop aims to attract hundreds of young media planners and executives from the five markets to showcase their best work using Twitter solutions.
Ocean forecasting system for Madagascar and Mozambique
The Indian National Centre for Ocean Information Services (INCOIS) of the Ministry of Earth Sciences here inaugurated the Ocean Forecasting System for Comoros, Madagascar, and Mozambique at the third Ministerial Meeting of Regional Integrated Multi-Hazard Early Warning System for Asia and Africa (RIMES), held at Port Moresby, Papua New GuineaThe ocean forecast and early warming information on high wave, currents, winds, tides, sub-surface ocean conditions cater to users like fishermen, coastal population, tourism sector, coastal defence officials, marine police, port authorities, research institutions and offshore industries of these countries.These ocean services are aimed towards safety at the sea. The system would offer oil spill advisory services, high wave alerts, port warnings, forecast along the ship routes in addition to tsunami and storm surge warnings and help in search and rescue operations.INCOIS is already providing these operational services to Maldives, Sri Lanka and Seychelles.
The Indian National Centre for Ocean Information Services (INCOIS) of the Ministry of Earth Sciences here inaugurated the Ocean Forecasting System for Comoros, Madagascar, and Mozambique at the third Ministerial Meeting of Regional Integrated Multi-Hazard Early Warning System for Asia and Africa (RIMES), held at Port Moresby, Papua New GuineaThe ocean forecast and early warming information on high wave, currents, winds, tides, sub-surface ocean conditions cater to users like fishermen, coastal population, tourism sector, coastal defence officials, marine police, port authorities, research institutions and offshore industries of these countries.These ocean services are aimed towards safety at the sea. The system would offer oil spill advisory services, high wave alerts, port warnings, forecast along the ship routes in addition to tsunami and storm surge warnings and help in search and rescue operations.INCOIS is already providing these operational services to Maldives, Sri Lanka and Seychelles.
1. Two-Day Indian Ocean Conference in Colombo
Minister of External Affairs (MEA) Sushma Swaraj will participate in the two-day Indian Ocean Conference (IOC) scheduled to be held at Colombo.
Sri Lankan Prime Minister and President are among the key speakers at the IOC event on the theme of “Peace, Progress and Prosperity”.Delhi-based think tank India Foundation will host the IOC 2017 in collaboration with Research and Learning Center RSIS Singapore and NIFS Colombo.The first was held in Singapore in 2016 in partnership with think tanks from Singapore, Sri Lanka and Bangladesh.The conference will also be attended by officials from the USA, Australia and Germany among others.
1. Two-Day Indian Ocean Conference in Colombo
Minister of External Affairs (MEA) Sushma Swaraj will participate in the two-day Indian Ocean Conference (IOC) scheduled to be held at Colombo.
Sri Lankan Prime Minister and President are among the key speakers at the IOC event on the theme of “Peace, Progress and Prosperity”.Delhi-based think tank India Foundation will host the IOC 2017 in collaboration with Research and Learning Center RSIS Singapore and NIFS Colombo.The first was held in Singapore in 2016 in partnership with think tanks from Singapore, Sri Lanka and Bangladesh.The conference will also be attended by officials from the USA, Australia and Germany among others.
2. INCOIS Unveils Ocean Forecasting System
The Indian National Centre for Ocean Information Services (INCOIS) of the Ministry of Earth Sciences here inaugurated the Ocean Forecasting System for Comoros, Madagascar, and Mozambique at the third Ministerial Meeting of Regional Integrated Multi-Hazard Early Warning System for Asia and Africa (RIMES), held at Port Moresby, Papua New Guinea.
The Indian National Centre for Ocean Information Services (INCOIS) of the Ministry of Earth Sciences here inaugurated the Ocean Forecasting System for Comoros, Madagascar, and Mozambique at the third Ministerial Meeting of Regional Integrated Multi-Hazard Early Warning System for Asia and Africa (RIMES), held at Port Moresby, Papua New Guinea.
The ocean forecast and early warming information on high wave, currents, winds, tides, and sub-surface ocean conditions cater to users like fishermen, coastal population, tourism sector, coastal defence officials, marine police, port authorities, research institutions and offshore industries of these countries.INCOIS is already providing these operational services to Maldives, Sri Lanka and Seychelles.
3. UN Opens Atomic Fuel Reserve in Kazakhstan to Ensure Supply
Ensuring the supply of nuclear fuel in the event of disruption due to political or market problems is the objective of the International Atomic Energy Agency’s Low Enriched Uranium Bank, which opens in Kazakhstan.
Ensuring the supply of nuclear fuel in the event of disruption due to political or market problems is the objective of the International Atomic Energy Agency’s Low Enriched Uranium Bank, which opens in Kazakhstan.
The reserve will store 90 tons of low-enriched uranium (LEU), the essential ingredient needed to make the fuel for light-water nuclear reactors, which generate electricity.This material is usually purchased on the open market or by bilateral agreement between countries, a system the new bank does not want to disrupt.The IAEA insists that the reserve is a “mechanism of last resort” for situations in which a UN member nation cannot access fuel by the usual means.
DIPP Releases Next Edition of Consolidated FDI Policy
The Commerce and Industry Ministry released the next edition of its consolidated FDI policy document, incorporating all the changes made over the past year.
The Commerce and Industry Ministry released the next edition of its consolidated FDI policy document, incorporating all the changes made over the past year.
The Department of industrial policy and promotion, which deals with FDI related matters, compiles all policies related to foreign investment regime into a single document to make it simple and easy for investors to understand.The whole exercise is aimed at providing an investor friendly climate to foreign players and, in turn, attract more FDI to boost economic growth and create jobs.During the last one year, the government has liberalised FDI policy in over a dozen sectors, including defence, civil aviation, construction and development, private security agencies and news broadcasting.
Ministry of Textiles to Organize Pan India Camps
Ministry of Textiles has decided to organize Pan India camps in handlooms and handicrafts clusters, under the initiative -Hastkala Sahyog Shivir. The camps will be organized during 7th to 17th of October.
Ministry of Textiles has decided to organize Pan India camps in handlooms and handicrafts clusters, under the initiative -Hastkala Sahyog Shivir. The camps will be organized during 7th to 17th of October.
This initiative is dedicated to Pandit Deendayal Upadhyay Garib Kalyan Varsh, the birth centenary year of Pandit Deendayal Upadhayay.In these camps, services including credit facilities through MUDRA scheme, assistance for technological upgradation under Hathkargha Samvardhan Sahayata and distribution of modern tool kits and equipments will be provided to the weavers and artisans.
Airtel Ties up With Symantec
Bharti Airtel has entered into a partnership with Symantec Corporation to protect businesses in India from online threats.
The partnership comes amid a spike in cyber attacks over the past few months, including ransomwares such as Petya and WannaCry that disrupted systems across the world.According to the agreement, Airtel will be the exclusive Cyber Security Services partner for Symantec in India, and will distribute the US-based software firm’s enterprise security software.Through the partnership, the two companies will target the IT security requirements of large enterprises, small and medium businesses, as well as the government.
Bharti Airtel has entered into a partnership with Symantec Corporation to protect businesses in India from online threats.
The partnership comes amid a spike in cyber attacks over the past few months, including ransomwares such as Petya and WannaCry that disrupted systems across the world.According to the agreement, Airtel will be the exclusive Cyber Security Services partner for Symantec in India, and will distribute the US-based software firm’s enterprise security software.Through the partnership, the two companies will target the IT security requirements of large enterprises, small and medium businesses, as well as the government.
Fourth & Final Grand Slam of Season US Open Begins in NewYork
In Tennis, the US Open, the fourth and final Grand Slam of the season, begins in New York.
Swiss Stanislas Wawrinka, who won the tournament last year, is not taking part this year due to a knee injury. World number two Andy Murray is also out injured, with Serena Williams also not participating.Recently crowned world number one Rafael Nadal, this year's Australian Open and Wimbledon winner Roger Federer, Maria Sharapova, Karolina Pliskova and Simona Halep are among the top players taking part in the tournament.Sania Mirza and Rohan Bopanna are among the Indians who will be seen in action in the Doubles.
In Tennis, the US Open, the fourth and final Grand Slam of the season, begins in New York.
Swiss Stanislas Wawrinka, who won the tournament last year, is not taking part this year due to a knee injury. World number two Andy Murray is also out injured, with Serena Williams also not participating.Recently crowned world number one Rafael Nadal, this year's Australian Open and Wimbledon winner Roger Federer, Maria Sharapova, Karolina Pliskova and Simona Halep are among the top players taking part in the tournament.Sania Mirza and Rohan Bopanna are among the Indians who will be seen in action in the Doubles.
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