Naseeruddin Shah receives lifetime achievement award at DIFF
In Awards and Honours
Naseeruddin ShahVeteran Bollywood actor Naseeruddin Shah was
honoured with the lifetime achievement award at the Dubai International Film
Festival (DIFF). French actress Catherine Deneuve also received the award. The
stars shared the podium with the likes of Egyptian actor Ezzat Al Alayli,
award-winning French-Tunisian actor Sami Bouajila.
The 12th edition of the festival opened with the screening
of Lenny Abrahamson’s suspenseful and heartrending drama ‘Room’ based on Emma
Donoghue’s 2010 best-selling novel of the same name. Actor Michael B. Jordan,
Deepa Mehta and Anu Menon, Jacob Tremblay, the young star of ‘Room’ walked the
red carpet. ‘Room’ starring Brie Larson, tells the extraordinary tale of a
young mother and her five year-old son living out their lives in the confines
of a tiny windowless room.
Myanmar inaugurates Yangon Stock Exchange
In International Affairs
Myanmar has inaugurated a new stock exchange named Yangon
Stock Exchange with plans for six companies to start trading in March. Minister
of Finance Win Shein said the Yangon Stock Exchange will initially be open only
to Myanmar companies and investors, but planned law changes will eventually
allow foreigners to invest in Myanmar shares.
The exchange was set up by local companies in a joint
venture with Daiwa Institute of Research Japan and Japan Exchange Group, which
operates the Tokyo Stock Exchange. Officials hope a stock market will help
companies raise capital and fuel economic development in one of Asia’s poorest
countries.
Myanmar’s economy was stunted by decades of international
sanctions until military rulers yielded to a civilian government in 2010. The
country had a stock exchange during military rule but it attracted few
companies and trading was almost nonexistent. Stock markets established
recently in other developing Asian countries have fared poorly. A market in
Laos has only two companies traded and Cambodia’s stock exchange has attracted
just one.
Deputy finance minister Muang Muang Thien met financial
institutions and other investors in New York in October and visited the New
York Stock Exchange’s trading floor.
The companies slated to list on Myanmar’s exchange in March
are: FMI Co., First Private Bank Ltd., Myanmar Citizen Bank, Thilawa Special
Economic Zone Public Co., Myanmar Agricultural Business Public Co. and Great
Horkham Public Co.
India and Japan sign protocol to amend double taxation
avoidance pact
In Banking and Finance
Double TaxationAhead of Japanese Premier Shinzo Abe’s visit,
India and Japan have inked a pact for amending the double taxation avoidance
agreement and for preventing fiscal evasion that was originally signed in 1989.
The protocol provides for internationally accepted standards for effective
exchange of information on tax matters, including bank information and
information without domestic tax interest. It also allows for sharing of information
from Japan on an Indian resident with other law enforcement agencies.
Revenue Secretary Hasmukh Adhia and Ambassador of Japan
Kenji Hiramatsu signed the protocol on behalf of the two countries.
The pact would also allow the two countries to assist each
other in collection of revenue claims. Further, it provides exemption of
interest income from debt claims insured by the Government from taxation in the
source country.
SABLA Scheme to benefit nearly 100 lakh adolescent girls per
annum
In Indian Affairs
Government is implementing Rajiv Gandhi Scheme for
Empowerment of Adolescent Girls (SABLA), in 205 districts of various states and
Union Territories. The Centrally-sponsored scheme ‘SABLA’ aims at empowering
adolescent girls (AGs) in the age group of 11-18 years through nutrition,
healthcare and life skills education. The Cabinet approval followed the
recommendation of a Group of Ministers (GoM) aiming at enhancing their
nutritional and economic status.
Under the scheme, adolescent girls will be provided Take
Home Ration. In addition, the Women and Child Development Ministry will explore
feasibility for implementing Conditional Cash Transfer scheme as an alternative
of adolescent girls in 100 more districts. Around 92 lakh to 1.15 crore
adolescent girls of 11 to 18 years per annum are expected to be covered under
the scheme during the Eleventh Plan. The girls will be provided supplementary
nutrition containing 600 calories, 18-20 grams of protein and micro-nutrients,
per day for 300 days in a year.
An amount of Rs 27,486.79 lakh has been released to states
under SABLA in 2015-16 till date and amount utilised is Rs 7844.49 lakh. The
total number of beneficiaries under the scheme were 102,28,911 during 2014-15
and 48,68,553 in 2015-16 till date.
The government has received requests/proposals from the
state government of Andhra Pradesh, Chhattisgarh, Kerala, Madhya Pradesh,
Maharashtra, Uttarakhand and Uttar Pradesh to include more districts under the
said scheme.
India and Pakistan begins Comprehensive Bilateral Dialogue
In Foreign Relations
Seven years after the 26/11 Mumbai terror attacks, India and
Pakistan have agreed to resume structured dialogue between them. The dialogue
that was earlier known as Composite Dialogue and later on known as Resumed
Dialogue will now be known as the Comprehensive Bilateral Dialogue. In their
joint statement, Ms. Swaraj and Pakistan’s Foreign Affairs Advisor Sartaj Aziz
“condemned terrorism and resolved to cooperate to eliminate it”. The joint
statement also notes that Pakistan had given assurances on an “early completion
of the Mumbai trial”.
After talks between Ms. Swaraj and Mr. Aziz which lasted two
hours, the two sides tasked Foreign Secretaries of the two countries with
formulating a timetable for secretary level talks on all the 10 issues that
form the resurrected dialogue process. The declaration of Comprehensive
Bilateral Dialogue was welcomed by former Foreign Secretary of Pakistan Salman
Bashir who described the declaration by Ms. Swaraj as a “great development”.
US updates jet-engine technology transfer policy with India
In Foreign Relations
The United States has updated its policy on gas-turbine
engine technology transfer to India, a move that should lead to expanded
cooperation in production and design of jet-engine components. US defense
secretary Ash Carter informed defence minister Manohar Parrikar of the decision
during the latter’s visit to Washington this week and said it was made possible
by the strengthening relationship between two countries.
The statement gave no details of the policy update and a
Pentagon spokesman was unable to provide more information. India and the United
States were often at odds during the Cold War but have been working in recent
years to expand defence cooperation given shared concerns about China’s rising
power. The United States has become one of the main sources of weapons for the
Indian military, and under Prime Minister Narendra Modi’s “Make-in-India”
programme has offered joint development and production of military
technologies.
The scope of this Defense Technology and Trade Initiative
(DTTI) has so far been modest because of concerns about intellectual property
protection on the part of US companies.
Centre declares Tamil Nadu flood as ‘Calamity of Severe
Nature’
In Indian Affairs
The Union Government has “declared” the Tamil Nadu floods as
a “Calamity of Severe Nature”. Tamil Nadu Chief Minister J. Jayalalithaa said:
“The Centre has made the declaration as requested by her.” Jayalalithaa has
directed her party MPs to allot Rs. 1 crore each for such works in the flood
affected districts. The Chief Secretary has been asked to send the details of
the reconstruction and rehabilitation works needed to be done in flood-affected
districts of the state.
AIADMK has 37 members in the Lok Sabha while its strength in
the Upper House is 14. The Chief Minister recalled that the northeast monsoon,
which brings the bulk of Tamil Nadu’s annual rainfall, had set in late by
October-end. However, heavy rains filled up reservoirs and lakes, following which
excess water was discharged into rivers even as Chennai, Kancheepuram,
Tiruvallore and Cuddalore were badly hit.
The state government said 347 persons had died and over
3,300 heads of cattle lost so far, but rehabilitation work had been taken up in
full swing. Over 17.64 lakh people were rescued and sheltered in 6,605 relief
centres across the state while over 1.28 crore food packets have been
distributed, it was officially stated. An amount of Rs 67.47 crore has been
disbursed among over 1.11 lakh families as immediate relief.
Transworld Group and Suzue Corporation sign MoU to explore
biz in India
In Banking and Finance
An Indian-owned business house in Dubai has signed an MoU
with a Japanese company to form a joint venture for exploring business
opportunities in the logistics sector within the Indian subcontinent apart from
Middle East and Japan. Transworld Group and Yokohama-based Suzue Corporation
have signed a MoU for the formation of a joint venture company which will capitalise
in providing services like international freight forwarding, customs clearance,
warehousing services, land transport services and other related logistic
services.
While Transworld Group’s logistics arm in the Middle East,
Transworld Logistics FZE, will handle operations in the United Arab Emirates
and Middle East, Shreyas Shipping and Logistics Limited, part of Transworld
Group, will manage the business in the Indian Sub-continent and Suzue
Corporation will oversee the Japan end.
GOI to set up Medical Intelligence Tourism Board
In Indian Affairs
The Government of India will set up Medical Intelligence
Tourism Board to facilitate inbound tourism and to generate new ideas for
attracting more tourists including medical tourists. Sharma, Minister of State
(Independent Charge) for Tourism and Culture, said that the first meeting of
the Board would take place soon. Sharma mentioned that the Government is taking
certain critical measures for attracting tourists into the country. Tourists
from over 150 countries could avail of e-visa on arrival, which would speed up
the flow of tourists into the country.
Smaller countries like Maldives and Sri Lanka are, on an
average, attracting over 2 crore visitors yearly by appropriately packaging their
tourism strengths. India, endowed with a huge land mass and geographical
diversity, could attract more than these island countries could command. The
Minister said that India has 7,000 kms of sea coast which very few countries
could boast of, yet the flow of tourists across the sea coast is very low.
“It is time we set up facilities for yoga, medical treatment
etc. Across the coast line to derive full advantage of the inherent strengths”,
Sharma said. He also said that India can emerge as an important medical hub
since some of the critical surgeries like knee replacement; dental surgery etc.
Could be undertaken at one-sixth or one-eighth of the cost prevalent in
developed countries.
Mexico Govt approves Dengue fever vaccine Dengvaxia
In Science and Technology
The world’s first dengue vaccine, Dengvaxia, won regulatory
approval in Mexico, raising hopes that it could prevent more than 100 deaths
there a year and eventually perhaps millions around the world. Globally, dengue
is the fastest-growing mosquito-borne disease, with as many as 400 million
people infected every year, according to the World Health Organization.
The Dengvaxia vaccine is being manufactured by French
pharmaceutical giant Sanofi. The company has requested regulatory approval in
20 countries across Asia and Latin America, but Mexico was the first to give it
the green light.
Dengvaxia is a live virus vaccine consisting of an
attenuated yellow fever virus genetically engineered to produce proteins from
the dengue virus and stimulate the body’s immune system to make antibodies to
those proteins. The vaccine works against all four subtypes of the dengue
virus, but better for some subtypes than others.
Mexico’s National Vaccination Council will meet to decide
whether Dengvaxia will be among the vaccines the government distributes without
cost, the head of the health regulatory agency, Mikel Arriola, told AFP.
Mexican health authorities estimate the vaccine could prevent 8,000
hospitalizations and 104 deaths per year.
HPCL CMD Nishi Vasudeva named CEO of the Year
In Awards and Honours
Hindustan Petroleum Corp Ltd (HPCL) Chairman and MD Nishi
Vasudeva has been chosen CEO of the Year. Reliance Industries has bagged the
CSR Award at the 17th annual Platts Global Energy Awards, often called the
Oscars of energy. Spain’s Repsol stole the show as a triple winner — Energy
Company of the Year. The Rising Star Individual” award has been given to Maria
Victoria Zingoni, Repsol’s executive managing director of downstream.
Pakistan successfully test-fires Shaheen-III ballistic
missile
In International Affairs
Shaheen-IIIPakistan has conducted a successful test of the
Shaheen-III surface-to-surface ballistic missile. The missile is capable of
carrying nuclear and conventional warheads to a maximum range of 2,750
kilometres. The test flight was aimed at validating various design and
technical parameters of the weapon system. Director General Strategic Plans
Division, Lieutenant General Mazhar Jamil lauded the efforts of the scientists
and engineers on achieving the significant milestone.
Director General Strategic Plans Division, Lieutenant
General Mazhar Jamil, said the country had achieved a “significant milestone”
in complementing the deterrence capability. President Mamnoon Hussain and Prime
Minister Nawaz Sharif congratulated the military scientists and engineers on
the successful missile test.
Pakistan had test-fired the Shaheen-I and Shaheen-II
missiles last year. Shaheen-I is also capable of carrying nuclear as well as
conventional warheads and has a range of 900km while the Shaheen-II missile can
also carry nuclear and conventional warheads up to a range of 1,500km.
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