India, Afghanistan and Iran finalise Chabahar Agreement
Afghanistan and Iran have finalised the parameters of a trilateral agreement known as the Chabahar Agreement, which will allow India access to Afghanistan via the strategically located Iranian port of Chabahar, located in the Gulf of Oman.
The text of the Chabahar Agreement was finalized at the second technical meeting of experts from the three countries in New Delhi. The agreement will be signed after completing necessary internal procedures in the three countries.
The three countries have also agreed to establish a sub-committee within the framework of the agreement in order to provide protocols for transit, ports, customs issues and well as consular affairs.
Objective : The draft agreement envisions trilateral cooperation for providing alternative access to seas to Afghanistan, inter alia for Afghanistan's trade with India.
Significance of Chabahar Agreement :
(1) Chabahar Agreement will significantly enhance utilisation of Chabahar Port, contribute to economic growth of Afghanistan and facilitate better regional connectivity, including between India and connections to Afghanistan and central Asia.
(2) The agreement will be a strategic bulwark for greater flow of people and goods among the three countries, as well as in the region.
(3) The increase in connectivity afforded by the port could allow Afghan exports cheaper access to markets in India. Currently, an overwhelming amount of Afghan manufactured goods travel through Karachi, Pakistan.
(1) India will also supply USD 400 million of steel rails. A team from Ircon International Ltd will visit Iran for discussions on the Chabahar-Zahedan Railway link.
(2) Oil minister Dharmendra Pradhan had announced $20 billion investment for the Chabahar port complex during his visit to Tehran last week.>Login To Save for Revision
- Indian Army Conducts Battle Exercise 'Shatrujeet' In Rajasthan
Mathura-based Strike 1 corps is conducting a major exercise ‘Shatrujeet’ in the deserts of Rajasthan to evaluate the capability of the Army to strike deep into enemy territory in an integrated air-land battle environment.
The gruelling exercise, involves around 30,000 troops deployed in the blistering Thar honing their war fighting skills and practicing modern military tactics.
The operation-oriented exercise is focusing on “validating integrated battle theatre fighting concept” incorporating new-age technologies, weapon platforms and systems as well as long range precision targeting vectors".
The Army undertakes such exercises at regular intervals at different levels to ensure forces are provided war-like situations and kept in high-state of battle readiness.
It was post preparatory training exercise manoeuvres at subordinate units and formation levels by conducting integrated operational manoeuvres. It mainly validated India Army’s operational plans in simulated high tempo battlefield environment and terrain.>Login To Save for Revision
- Australia beat India 4-0 to win Sultan Azlan Shah Cup 2016
Australia has won the 25th edition of Sultan Azlan Shah Hockey Tournament for the record ninth time. In the final match that was played at Ipoh, Perak, Malaysia the Australian hockey team defeated India by 4-0 goals.
Earlier, Australia had won the Sultan Azlan Shah Hockey Tournament in 1983, 1996, 2004, 2005, 2007, 2011, 2013 and 2014. Australia holds record of most titles win of this tournament.
Top Ranking countries : Australia (1st rank), India (2nd rank), New Zealand (3rd rank), Malaysia (4th rank), Pakistan (5th rank), Canada (6th rank) and Japan (7th rank).
Azlan Shah Hockey Tournament
The Sultan Azlan Shah Cup is an annual international men's field hockey tournament held in Malaysia. Named after 9th king of Malaysia and ‘Father of Malaysian Hockey’ Sultan Azlan Shah, it began in 1983 as a biennial contest. It was converted into an annual event after 1998, following its growth and popularity.>Login To Save for Revision
- BRICS New Development Bank approves first set of loans
The BRICS New Development Bank (NDB) has approved its first package of loans worth some $811 million for renewable energy projects in four of its member countries namely Brazil, China, South Africa and India.
The decision to approve the first loans, which are to be handed out in tranches, was approved by the NDB at the board of governors on the sidelines of the International Monetary Fund (IMF) and World Bank spring meetings in Washington DC, US.
The NDB in its first loan tranche will provide $300 million to Brazil, $81 million to China, $250 million to India and $180 million to South Africa.
These funds will be used in area of green and renewable energy projects with a combined capacity of 2.37MW together, which can help reduce the amount of harmful emissions by 4 million tons annually.
New Development Bank
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa) to "mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. It had started its operations in July 2015 with initial authorized capital of $100 billion. It is headquartered in Shanghai, China.
In the NDB, each participant country has been assigned one vote, and none of the countries have veto power. Renowned Indian banker Kundapur Vaman Kamath is the first President of NDB.>Login To Save for Revision
- US court slaps $940 million fine on two Tata firms
A US grand jury has slapped a $940 million fine on two Tata companies Tata Consultancy Services (TCS) and Tata America International Corp in a trade secret lawsuit filed against them by the US based electronics medical records vendor Epic Systems.
The jury has asked the Tata firms to pay $240 million to Epic Systems for ripping off its software and also asked to pay $700 million in punitive damages.
Epic Systems had accused the two companies of brazenly stealing its trade secrets, confidential information, documents and data.
Background : Epic Systems in its lawsuit has alleged that TCS employee have been fraudulently accessing Epic’s software beyond what the consulting contract required and using Epic’s software to improve their own competing product. One TCS employee’s account, which was used in India and several US locations, downloaded 6,477 documents, according to Epic.
Comment : TCS which has over 344,000 consultants in 46 countries generated consolidated revenues of $15.5 billion for the last financial year that ended March 2015.>Login To Save for Revision
- EU Parliament approves joint system for sharing air passenger data to fight terror
The European Parliament gave final approval for the creation of a European passenger name records (PNR) system that will enable security agencies to systematically store the data of airline passengers travelling to, from and within the EU. The measure was passed by 461 votes to 179 against.
PNR is a joint system for security agencies to access airline passenger data on all flights to and from the EU with an aim to combat terrorism .
It will enable police and justice officials to systematically store the data of airline passengers data on all flights to and from the EU.
PNR system will include name, travel dates, ticket details, itinerary, contact details, travel agent and seat number, means of payment and baggage information of the passengers.
Background : Islamist militant attacks in Paris last year and in Brussels last month showed that Europe needs to scale up its common response to terrorism and take concrete actions to fight it. The European PNR system law was first approved in 2011 but has taken five years to be passed due to privacy laws but the lawmakers argued that sharing data will help them trace suspicious itineraries which may further help in preventing terrorist attacks.>Login To Save for Revision
- Sri Lanka spinner Rangana Herath retires from ODIs, T20Is
Sri Lankan veteran left-arm spinner Rangana Herath (38) has announced his retirement from the two shortest forms of cricket - T20 and One Day International Cricket (ODI) in order to focus on his Test career and make room for fresh talent to be groomed with the 2019 World Cup in view.
He was born as Herath Mudiyanselage Rangana Keerthi Bandara Herath on 19 March 1978 in Kurunegala, Sri Lanka. He made his Test debut at Galle International Stadium, Sri Lanka against Australia in 1999.
His One Day International debut came five years later in 2004, against Zimbabwe at Harare Sports Club. Herath is currently ranked as the number three Test match bowler in the world.
ODI Career: He made his ODI debut against Zimbabwe in Harare in 2004. He has played 71 one-day internationals, claiming 74 wickets and conceding 2,362 runs. His best performance 4 for 20 was against India in 2013.
T20 Career: He played his first T20 international against Australia at Sri Lanka's Pallekele in 2011. He had taken 18 wickets at an average of 17.52. His best performance was 5 for 3 inT20s against New Zealand at the WT20 in 2014.>Login To Save for Revision
- Nico Rosberg wins 2016 Chinese Grand Prix
German Formula One driver for Mercedes Formula One team - Nico Rosberg has won the 2016 Chinese Grand Prix held at the Shanghai International Circuit.
It was Rosberg’s overall seventeenth championship title of F1 in his career and the third consecutive win in the 2016 season.
Top 3 teams of Chinese Grand Prix, 2016 are: Mercedes, Ferrari and Red Bull.
Chinese Grand Prix, 2016 :
First Position: Nico Rosberg (Germany) of Mercedes team.
Second Position: Sebastian Vettel (Germany) of Ferrari team.
Third Position: Daniil Kvyat (Russia) of Red Bull Team.
Fourth Position: Daniel Ricciardo (Australia) of Red Bull team.
Fifth Position: Kimi Raikkonen (Finland) of Ferrari Team.
Eleventh Position: Sergio Perez (Mexico) of Force India team.
Fifteenth Position: Nico Hulkenberg (Germany) of Force India team.>Login To Save for Revision
- Hero group co-founder Satyanand Munjal passes away
Satyanand Munjal, co-founder of Hero Cycles group, passed away in Ludhiana, Punjab. He was 99. Munjal was popularly known as ‘mahatma’ Satyanand Munjal for being devoted to several social causes related to the Arya Samaj.
About Satyanand Munjal
He was the eldest of the Munjal brothers and had played important role in success of Hero Cycles group starting from bicycle spare parts business and later emerging as one of the largest business conglomerates in India.
Apart from building a business empire, his philanthropic acts such as Bahadur Chand Munjal (BCM) Arya schools, Hero DMC Heart Institute, Dayanand Medical College and Hospital (DMCH) remain his most notable works. He had undertaken several new initiatives by keeping a regular track of the functioning of these institutions.>Login To Save for Revision
- Delhi ranked 44th among world’s 50 Future-ready Cities
The national capital has been ranked 44th among the world’s 50 future-ready cities around the world that are embracing technology to adapt and thrive in an ever-changing and globalised future. It was revealed by the recently released report ‘Future-Ready Economies Model’ by the Information Technology major Dell.
The list is topped by San Jose, followed by San Francisco, Singapore, London and Washington DC. The cities positioned in the list were evaluated along three dimensions (i) human capital (ii) infrastructure (iii) commerce.
The 'Future-Ready Economies Model' scores large, high-growth global metropolitan areas based on attributes that enable people and organisations to access new tools and ideas that deliver better connectivity, better economic performance and a greater ability to attract talent.>Login To Save for Revision
- Delhi Government bans sale of all forms of Chewable Tobacco for 1 year
The Delhi Government has banned the sale, purchase and storage of all forms of chewable tobacco, including "guktha, pan masala, khaini and zarda" for one year in the interest of public health. The Department of Food Safety has issued a notification in this regard.
A notification was issued by the government in September 2012, in pursuance of a series of directions from the Supreme Court for a ban on "gutkha" in the national Capital but the tobacco retailers defied the notification by selling components of "gutkha" (betel nut and raw tobacco) in separate pouches as the the notification prohibited tobacco products had specified "gutkha" but missed out on raw components.>Login To Save for Revision
- Mary Kom named as AIBA ambassador for Women’s World Boxing Championship
Iconic Indian woman boxer M C Mary Kom has been named as the International Boxing Association (AIBA) ambassador for Women’s World Championship.
She is one of the eight ambassadors for the upcoming World Championships by the International Boxing Association (AIBA ) scheduled from May 19 to 27, 2016 in Astana, Kazakhstan.
The AIBA-appointed ambassadors for the World Championship also include Nicola Adams (Great Britain), Marlen Esparza (US), Adriana Arauja (Kazakhstan), Stanimira Petrova (Bulgaria) and Khadija Mardi (Morocco). The female officials chosen as ambassadors are Kheira Siki Yakoub (Algerian) and Jennifer Huggins (Canada).
About MC Mary Kom
Mangte Chungneijang Mary Kom born on 1st March 1983 is a boxer from the Sino-Tibetan speaking Kom tribe in Manipur, representing India. She is a five-time World Amateur Boxing champion, and the only woman boxer to have won a medal in each one of the six world championships.
She had won a bronze medal in 2012 London Olympics in the flyweight (51 kg) category and was only Indian woman boxer to qualify for this category. She is also first Indian woman boxer to get a Gold Medal in the 2014 Asian Games held at Incheon, South Korea.
Awards and Honours: Padma Bhushan (2013), Padma Shree (2010) and Arjuna Award for Boxing (2003).
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- Indian Army Conducts Battle Exercise 'Shatrujeet' In Rajasthan