Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 06 - SEPTEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 06 - SEPTEMBER - 2016
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Monday, 12 September 2016 06:45

 

 

 


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DAILY NEWS UPDATES

06- SEPTEMBER - 2016

 

:: NATIONAL ::

CLIMATE CHANGE COULD BE EASY TO IMPLEMENT THAN EARLIER DEALS

  • Climate change treaties have been notoriously hard to implement in the past, but the Paris Agreement, signed at the United Nations Climate Change Conference last year, could be a different story.
  • That’s according to U.S. Special Envoy for Climate Change Dr. Jonathan Pershing who says that the will of countries, such as India and the United States, to expedite change could see the agreement come into force as early as this year.
  • The group was formed to review progress made in the bilateral relationship on climate resilience, air quality, forestry, capacity building and clean energy, and to discuss opportunities for future collaboration in shared climate priorities.
  • The meetings between the two governments, he said, focused on how the two sides could grow interactions in terms of experts travelling each way for fellowships.
  • He highlighted that the talks looked at the question of climate resilience in a new light.
  • In the area of resilience, Mr. Pershing said, discussions were held about water, agriculture, food, energy systems, and the focus once again was on the kind of expertise each side can contribute to the other.

MUSLIM PERSONAL LAW BOARD SAYS SC HAS NO AUTHORITY TO DECIDE ON TRIPLE TALAQ

  • Noting that a religion cannot be “reformed” out of its existence or identity, the All India Muslim Personal Law Board challenged the Supreme Court’s initiative to judicially examine Islamic personal laws relating to marriage and divorce.
  • The apex Muslim law body of the country accused the Supreme Court of trying to indulge in judicial legislation in the name of “socially reforming” Islamic practices of marriage and divorce.
  • It said the practices depicted in the Holy Koran are out of bounds for the Supreme Court.
  • The AIMPLB claimed that personal laws of marriage and divorce are outside the purview of the fundamental rights of the Indian Constitution, and Article 44.
  • It envisages a Uniform Civil Code, is only a “directive principle of State policy and not enforceable.

JUSTICE J. CHELAMESWAR SAID COLLEGIUM SYSTEM IS OPAQUE

  • Justice J. Chelameswar, sitting Supreme Court judge, has sent a communication to the Chief Justice of India T.S. Thakur, expressing his disinclination to participate in the powerful Supreme Court collegium meetings.
  • He was the lone dissenting judge on the five-judge Constitution Bench, which scrapped the National Judicial Appointments Commission (NJAC) law, and upheld the collegium system in a majority judgment on October 16, 2015.

GLOBAL GREENHOUSE GAS (GHG) EMISSIONS OF G20 COUNTRIES ARE CONTINUING TO INCREASE

  • Global greenhouse gas (GHG) emissions of G20 countries are continuing to increase, a report from Climate Transparency, an open global consortium, has shown ahead of the 2016 G20 Hangzhou summit to be held in China.
  • Between 1990 and 2013, the absolute carbon dioxide emissions of G20 countries, which account for three-fourths of global CO{-2}emissions, went up by 56 per cent, the report shows.
  • India received a ‘medium’ rating with good scores for emissions, share of renewables in total primary energy supply (TPES) and climate policy, but poor scores in carbon intensity, share of coal in TPES and electricity emissions.
  • The worst overall performers were Australia, Argentina, Japan, Russia, Saudi Arabia and South Africa.
  • The carbon intensity of the energy sector was found increasing, due to the strong and continuing role that coal plays.
  • Of all the G20 member-states, Australia, Canada, Saudi Arabia and the United States stand out with by far the highest per capita energy-related CO{-2}emissions.
  • Saudi Arabia, South Korea and Japan still show an increase over the five-year period 2008-2013.
  • Argentina and South Africa have declining per capita emissions, as with the EU and its big member-states Germany, France, Italy and the U.K., the report notes.
  • China’s per capita emissions were found to be above the G20 average: at 38%, with China having the highest economic growth rate between 2008 and 2013.
  • The coal share of China, India, South Africa and Turkey will remain clearly above the maximum 2˚C benchmark in the time period until 2030, the report notes.
  • To be in line with a 2°C-compatible trajectory by 2035, G20 countries face an investment gap of almost $ 340 billion/year in the power sector.
  • Though plugging the gap requires an increase in green investments, G20 governments provided, on average, almost $ 70 billion in subsidies for fossil fuel production between 2013 and 2014, the report points out.
  • This was despite G20 leaders pledging to phase out ‘inefficient’ fossil fuel subsidies in 2009. The report also points out that reducing fossil fuel subsidies could theoretically create fiscal space for more international climate finance.

CANONISATION OF MOTHER TERESA DO BE DONE IN THE VATICAN

  • The canonisation of Mother Teresa in the Vatican will be marked by India with the release of a commemorative postage stamp.
  • India Post will on the day issue a souvenir sheet on Mother Teresa, acclaimed the world over for her work among the poor.
  • The stamp will be available for sale on the e-post office portal.
  • India Post released, in Kolkata, a special postal and numismatic cover on the Roman Catholic nun.
  • West Bengal Chief Minister Mamata Banerjee left for Rome to attend Mother Teresa’s canonisation ceremony.

:: INTERNATIONAL ::

BELT AND ROAD INITIATIVE TO BE FOLLOWED BY A WORLD LAND BRIDGE

  • China’s Belt and Road connectivity initiative, which bears a strong imprint of the Eurasian Land Corridor should be followed by a World Land Bridge that will link North America with the New Silk Road.
  • World Land Bridge is the natural sequel to the Eurasian Land Bridge, the mega-connectivity initiative to revive the ancient Silk Road in all its dimensions, including its lost cultural and civilisational attributes.
  • Siberia in Russia can be connected with Alaska, if we build an undersea tunnel across the Bering Strait. That would lay the foundation for a World Land Bridge.
  • Better coordination among the leaders of Brazil, Russia, India, China and South Africa (BRICS) within the G-20framework, to achieve far-reaching results.
  • Energy committee of the BRICS must embark on a “crash programme” to develop thermonuclear fusion, to achieve long-term energy security, and reduce pressure on finite resources.
  • When the Soviet Union collapsed in 1991, the most obvious thing was to enlarge this conception of connectivity by establishing development corridors linking the population and industry centres of Europe with those of Asia.

:: BUSINESS AND ECONOMY ::

INDIA WILL TREAD A CAUTIOUS MIDDLE PATH ON EXCESS CAPACITY IN STEEL

  • India will tread a cautious middle path when a simmering battle over global ramifications of excess capacity in steel takes centre-stage at the G-20 Summit in China.
  • The U.S. has already mounted pressure on China to drastically reduce its steel capacity, claiming that the ‘dumping’ of the commodity in various countries has been hurting steel producers across the world.
  • India will, however, play a low-profile role in the discussions on the topic as it is aware of the growing needs of its user industries — which currently depend on a mix of imported and locally-made steel to meet their requirements.
  • The U.S. at the G20 Summit will seek discussions on the reasons for excess capacity in steel as well as reforms & regulations in the global steel industry, including in China.
  • For India, it will be a ‘Catch-22’ as it is not only the third largest steel producing nation, but was also among the top 10 steel importers in 2015.
  • This means, the interests of local producers and user industries will have to be kept in mind while taking a stance, the sources said.
  • Besides, the Centre wants more foreign investment in India, including in the steel sector, as part of the ‘Make In India’ initiative aimed at boosting local manufacturing and exports.
  • It was also decided that the G20 steelmaking economies will participate in the OECD Steel Committee meeting slated for September 8-9, 2016 to tackle the issue.
  • To counter a surge in cheap imports of steel, which was hurting local steel makers, India had taken measures including anti-dumping duty, safeguard duty and Minimum Import Price.
  • India had also brought out an order banning the manufacture and distribution of stainless steel products that do not comply with the the ‘Bureau of Indian Standards’ mark.

MAHARASHTRA RANKED HIGHEST IN BROAD MEASURE OF EASE OF DOING BUSINESS

  • Maharashtra ranked highest according to a broad measure of Ease of Doing Business (EDB) in Indian states announced at the Lee Kuan Yew School of Public Policy here.
  • The new gauge has given 21 major states entirely different ranks when compared with the only other previous measure of this sort, the World Bank’s Ease of Doing Business Index.
  • The latest measure produced by the Asian Competitiveness Institute (ACI) extends the definition of ease of doing business beyond the core measure of business friendliness that the Bank had focussed on for successive years.
  • The EDB report, which was shared, ranked Maharashtra, Gujarat, Delhi, Goa and Andhra Pradesh as the top five states respectively, whereas these states were ranked 8, 1, 15, 19 and 2 by the Bank.
  • The ACI’s EDB Index includes 81 indicators that include Business Friendliness (40 per cent weight), Attractiveness to Investors (40 per cent) and Competitive Policies (20 per cent).
  • It also balances “hard data” from each state with the results of surveys undertaken amongst investors, government officials and academic experts in this area.
  • Except Maharashtra and Gujarat, ranked 1 and 2 respectively, the ranks of all other states in the study improved through this simulation.

:: IMPORTANT DETAILED NEWS ::

INDIAN-ORIGIN AJEI GOPAL NAMED CEO OF ANSYS

A software industry veteran Ajei Gopal was named the Chief Executive Officer (CEO) of a leading US company ANSYS.

Gopal will take over the charge of the Pennsylvania-based company with effect from 1 January 1 2017.

James Cashman, who has served as ANSYS’ CEO since 2000, will become Chairman of the Board of Directors, effective from January 2017.

Who is Ajei Gopal?

Gopal began his career as a member of the technical staff at Bell Communications Research.

He has served as a member of the ANSYS Board since 2011.

Previously, he served as interim president and COO at California-based technology company Symantec.

He was senior vice president and general manager at Hewlett-Packard from 2011.

He worked at IBM from 1991 to 2000.

He has 23 US patents to his name.

He has obtained a doctorate in computer science from Cornell University. He holds a bachelor’s degree from the Indian Institute of Technology Bombay.

About ANSYS

ANSYS produces engineering simulation software used for testing product designs across a wide spectrum of industries including rockets and wearable technology.

The company was founded in 1970 by John A. Swanson as Swanson Analysis Systems, Inc (SASI).

SASI developed its business in parallel with the growth in computer technology and engineering needs.

In 1994, SASI was sold to TA Associates.

The new owners took SASI’s leading software, called ANSYS, as their flagship product and designated ANSYS, Inc. as the new company name.

UNION CABINET APPROVES SIMPLIFICATION OF FDI POLICY 2016 IN VARIOUS SECTORS

The Union Cabinet approved simplification and liberalisation of the Foreign Direct Investment (FDI) Policy, 2016 in various sectors. These radical changes in FDI regime were introduced by the Union Government on 20 June 2016.

The FDI policy amendments are aimed at providing ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment.

Radical Changes in FDI Policy regime

• Radical Changes for promoting Food Products manufactured/produced in India: To permit 100 percent FDI under government approval route for trading in respect of food products manufactured in India.

• FDI in Defence Sector up to 100%: FDI beyond 49% has been permitted through government approval route, in cases resulting in access to modern technology. FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under Arms Act, 1959.

• Review of Entry Routes in Broadcasting Carriage Services: 100 percent FDI allowed under automatic route for Teleports, Direct to Home, Cable Networks and Mobile TV. Moreover, infusion of FDI beyond 49% in a company not seeking permission from Ministry will result in change in the ownership pattern.

• Pharmaceutical Sector: 100% FDI under automatic route in Greenfield pharma, FDI up to 100% under government approval in Brownfield pharma and 74% FDI under automatic route in Brownfield pharmaceuticals.

• Civil Aviation Sector: To permit 100% FDI under automatic route in Brownfield Airport projects. In Scheduled Air Transport Service and regional Air Transport Service, it has now been decided to raise FDI limit to 100%. For NRIs, 100% FDI will continue to be allowed under automatic route.

• Private Security Agencies: FDI up to 49% is now permitted under automatic route in this sector and FDI beyond 49% and up to 74% would be permitted with government approval route.

• Establishment of branch office, liaison office or project office: No approval from Reserve Bank of India or separate security clearance would be required in cases where FIPB approval or license/permission by the concerned Ministry has already been granted.

• Animal Husbandry: It has been decided to do away with the requirement of controlled conditions for FDI in Animal Husbandry, Pisciculture, Aquaculture and Apiculture.

• Single Brand Retail Trading: It has been decided to relax local sourcing norms up to three years and a relaxed sourcing regime for entities undertaking Single Brand Retail Trading of products having cutting edge technology.

Background
In past two years, Union Government has brought major FDI policy reforms in a number of sectors viz. Defence, Construction, Insurance, Pension Sector, Broadcasting Sector, Tea, Coffee, Rubber, Single Brand Retail Trading, Manufacturing Sector, Civil Aviation, and Asset Reconstruction Companies. 
Measures undertaken by the Government have resulted in increased FDI inflows at 55.46 billion US dollars in financial year 2015-16, as against 36.04 billion US dollars during the financial year 2013-14. This is the highest ever FDI inflow for a particular financial year.

However, it was felt that the country has potential to attract far more foreign investment which can be achieved by further liberalizing and simplifying the FDI regime. Accordingly, Union Government radically liberalized the FDI regime on 20 June 2016.

SONY PICTURES TO ACQUIRE SPORTS CHANNELS OF ZEE FOR 385 MILLION US DOLLAR

Sony Pictures Networks India announced the acquisition of sports broadcasting business of Zee Entertainment for 385 million US dollar in an all-cash deal.

Zee's TEN Sports channels being acquired include TEN 1, TEN 1 HD, TEN 2, TEN 3, TEN Golf HD, TEN Cricket, TEN Sports. These channels operate in several countries including the Indian sub-continent, Maldives, Singapore, Hong Kong, Middle East, Caribbean.

TEN Sports holds cricket rights in South Africa, Pakistan, Sri Lanka, West Indies and Zimbabwe. It also holds the rights for world wrestling, some football leagues, WTA and ATP tennis events, golf tours, Asian and Commonwealth Games athletics, motor Sports and cycling events, including Tour de France.

About Sony Pictures Networks

Sony Pictures Networks India Pvt. Ltd. (SPNI) is an Indian company, which handles Sony Pictures' diversified interests in India.

It was previously known as SET India Pvt. Ltd and then Multi Screen Media Pvt. Ltd.

The group now includes a motion pictures corporation (MSM Motion Pictures), television distribution business (MSM Media Distribution) and digital entertainment business.

Sony Entertainment Television and SAB TV are the main brands of SPNI although it owns many other brands and companies under the umbrella Sony brand.

On 3 November 2015, MSM was renamed Sony Pictures Networks India Private Limited after 21 years.

DHINGRA COMMISSION SUBMITS ITS REPORT TO HARYANA CHIEF MINISTER

Justice SN Dhingra Commission set up by the Haryana government submitted its report to the Haryana Chief Minister Manohar Lal. It hinted at irregularities.

The commission was set up in May 2015 to probe the circumstances of grant or rejection of licences for development of colonies, group housing societies and commercial complexes in Gurgaon.

Highlights of the Report

• The 182-page report has two parts of which the first part contains the findings and the second contains evidence.

• The report elaborates the manner adopted to commit irregularities and the people behind it.

• The Commission has reportedly examined more than 200 cases of grant of Change of Land Use (CLU) licences.

The scope of the Dhingra commission was expanded in August 2015 and it was asked to probe grant of all licenses to colonisers and individuals in four villages of Gurgaon, namely Shikohpur, Sikanderpur, Badah and Kherki Dhaula, by the previous Congress government in Haryana.

 

 

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