Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 10 - SEPTEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 10 - SEPTEMBER - 2016
Monday, 12 September 2016 08:02

 

 

 


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DAILY NEWS UPDATES

10- SEPTEMBER - 2016

 

:: NATIONAL ::

PM STEPPED UP ATTACK ON PAKISTAN

  • Stepping up his attack on Pakistan, Prime Minister Narendra Modi said there was “one country in our neighbourhood” which “produces and exports” terror, and urged the international community to isolate and sanction “this” instigator.
  • Earlier, addressing the 14th ASEAN-India Summit here, Mr. Modi expressed deep concern at the rising “export of terror”, in an apparent reference to Pakistan, saying it is a common security threat to the region.
  • He also noted that growing radicalism through the ideology of hatred and spread of extreme violence are the other security threats.
  • “The time has come to isolate and sanction this instigator,” he said.
  • His remarks directed at Pakistan come just three days after his address to G20 leaders at Hangzhou where he had said “one single nation” in South Asia was spreading the “agents of terror”.

THE VECTOR-BORNE ZIKA VIRUS POSES A PUBLIC HEALTH THREAT TO KERALA

  • The vector-borne Zika virus, which has triggered a health alert in Latin America and Singapore, poses a public health threat to Kerala, health experts have said.
  • The virus poses a risk for pregnant women since it is linked to children being born with abnormally small head and brain development.
  • Conditions for its spread in the State may be conducive, as there is a large travelling population and high mosquito density comparable to Latin America.
  • The Health Department is putting together a strategy to pre-empt the virus. However, many factors could thwart the State’s anti-Zika preparedness.
  • With a high volume of travellers arriving from Singapore at two international airports, it would be next to impossible to keep this massive group under surveillance for over 14 days.
  • Immigration authorities have not cooperated to collect the names and contact numbers of travellers coming into the State from Zika-affected countries, the official said.
  • The fact that local transmission of Zika virus has been established in Singapore (which has reported over 290 cases of Zika so far and many of those tested positive should heighten the threat perception for Kerala.

ISRO IS PREPARING FOR A MISSION TO VENUS OR ASTEROID

  • The ISRO is mulling over missions to Venus or an asteroid and is under discussions for these, apart from a second mission to Mars, ISRO Chairman A.S. Kiran Kumar said.
  • ISRO also has a number of launches in the coming years including the Chandrayaan-2 and a joint mission with NASA, Mr. Kumar told a press conference.
  • Following the successful launch of GSLV-F05, Mr. Kiran Kumar said ISRO plans to launch at least two GSLV Mark II missions every year.
  • The indigenous cryogenic upper stage has settled into a system today.
  • ISRO was developing another engine, C-25, that will be twice as powerful as the current one.

:: INTERNATIONAL ::

ISRAEL AND PALESTINE AGREED FOR TALKS

  • Russia’s Foreign Ministry announced that the Israeli and the Palestinian leaders have agreed “in principle” to meet in Moscow for talks in what the Russians hope will relaunch the Mideast peace process after a more than two-year break.
  • But the wide gaps between Israeli Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas left it uncertain if or when the meeting will take place, and raised doubts about whether they would make any progress.
  • After years of taking a back seat to the U.S., Russia has increasingly sought to take a leadership role in the region. Announcement in Moscow indicates that Russia is pushing forward with its attempt to become a peace broker.

:: INDIA AND WORLD ::

PM SAYS ASEAN IS IMPORTANT TO INDIA

  • Prime Minister Narendra Modi told the ASEAN-India Summit that the regional grouping was central to India’s Act East policy.
  • He expressed hope that ASEAN would continue to lead and remain central to efforts aimed at greater regional integration and cooperation.
  • He said that in the face of growing traditional and non-traditional challenges, political cooperation has emerged as key in relations.
  • Speaking at the parallel East Asia Summit, the Prime Minister welcomed the adoption of a statement on non-proliferation and said India remained committed to strengthening its objectives.
  • He said India was committed to supporting the realisation of Regional Comprehensive Economic Partnership (RCEP).

:: BUSINESS AND ECONOMY ::

MUNICIPAL BONDS TO BE MADE MORE POPULAR

  • Municipal bonds are yet to take off in India even as the Centre and the Securities and Exchange Board of India (SEBI) are working towards creating more awareness.
  • According to government statistics, a cumulative amount of Rs.1,750 crore has been raised through municipal bonds in India while South Africa saw $1.8 billion being raised through such bonds in a single quarter alone.
  • Incidentally, $304 billion was raised in the U.S. through municipal bonds in just one single year.
  • Easy availability of government funds could also be a constraint. Lack of a secondary market for the trading of such bonds was another hindrance.
  • The capital market regulator announced regulatory norms for issuance of municipal bonds in July 2015 but after that there has been no such bond issue. The last municipal bond issued was in 2010.
  • Rating agency CARE estimates that large municipalities in India could raise Rs.1,000 to Rs.1,500 crore every year through municipal bond issues.
  • The SEBI chairman added that regulatory bodies for pension funds and insurance should also take a proactive stance and allow their regulated entities to invest in municipal bonds.
  • The SEBI chairman also said that investors look for transparency and clarity while investing in any securities and municipal bodies will have to review the manner in which books of accounts are maintained.

MEMBERS OF THE NATIONAL PENSION SYSTEM WILL HAVE DIFFERENT OPTIONS

  • Members of the National Pension System can soon opt for higher investments in equities as well as park a part of their retirement savings in new asset classes.
  • These classes will include real estate and infrastructure investment trusts, mortgage-backed securities and alternative investment funds registered with the stock market regulator.
  • Non-government members of the National Pension System (NPS) can soon opt for two new investment strategies based on life-cycle planning that would allow them to invest as much as 75 per cent of their savings in equities at the age of 35 years.
  • Presently, the highest equity exposure allowed for NPS subscribers is 50 per cent of their corpus.
  • Similarly, for those with a conservative outlook to investing, a new life-cycle fund with equity allocation of 25 per cent at the age of 35 years is being introduced.

:: IMPORTANT DETAILED NEWS ::

CHENNAMANENI VIDYASAGAR RAO SWORN IN AS ACTING GOVERNOR OF TAMIL NADU

Chennamaneni Vidyasagar Rao, Governor of Maharashtra, was sworn in as the acting Governor of Tamil Nadu on 2 September 2016 as the tenure of K. Rosaiah ended.

Rao was administered oath of office by the Madras High Court's Chief Justice Sanjay Kishan Kaul at the Raj Bhavan, Chennai.

About Chennamaneni Vidyasagar Rao

Chennamaneni Vidyasagar Rao is the present Governor of Maharashtra.

He took oath as the Governor on 30 August 2014.

Previously, he served as the Union Minister of State for internal affairs in the Vajpayee-led BJP Government from 1999.

He was elected to 12th and 13th Lok Sabha from Karimnagar in Telangana as a Bharatiya Janata Party candidate.

3.7 BILLION YEARS OLD FOSSILS DISCOVERED ON EARTH IN GREENLAND ROCKS

A team of scientists have discovered the world’s oldest stromatolite fossils about 3.7 billion years old in the world’s oldest sedimentary rocks in the Isua Greenstone Belt along the edge of Greenland’s icecap. The findings were published in journal Nature.

Led by the Australian University of Wollongong’s (UOW) Professor Allen Nutman, the team's discovery pushes back the previous record by 220 million years and captures the earliest history of the planet.

The discovery of the Isua stromatolite fossils provides a greater understanding of early diversity of life on Earth which could have implications for the understanding of life on Mars.

The Study

• A team of Australian geologists made the discovery in July 2012 while carrying out field research in Isua, a remote place in Greenland.

• One day while working at the field, they came across some outcroppings never seen before.

• Upon further assessment, the researchers were able to know they were conical structures, one to four centimeters high.

• The outcroppings looked like microbial mats known as stromatolites. The researchers carried out laboratory analysis and found its formations to be 3.7 billion years old.

• Using radiometric dating, the scientists were able to find out the age of the rocks.

Stromatolites
• The fossils are called stromatolites, which are layers of ancient microorganisms that grew in shallow water.

• Stromatolites are built layer-by-layer by a mat of photosynthesising bacteria in shallow water.

• Over time, they create structures of varying size and shape, from tall domed towers to small, pointed cones.

• Oddly enough, stromatolites are older than the world’s oldest rocks, since scientists think that the rocks they co-existed with have been crushed and destroyed by plate tectonic and erosion.

KIRAN MAZUMDAR SHAW APPOINTED KNIGHT OF THE NATIONAL ORDER OF THE FRENCH LEGION OF HONOUR

Kiran Mazumdar Shaw, Chairperson and Managing Director of Biocon Limited, was appointed Chevalier de l'Ordre National de la Légion d'Honneur (Knight of the National Order of the French Legion of Honour).

Shaw was honoured for her contribution to biosciences and research.

The award will be conferred on behalf of the President of the French Republic at a ceremony later in 2016.

Chevalier l'Ordre National de la Légion d'Honneur is the highest civilian award of the French Republic for outstanding contribution in diverse fields.

About Kiran Mazumdar Shaw

Kiran Mazumdar Shaw is an Indian entrepreneur.

She is the Chairman and Managing Director of Biocon Limited, a biotechnology company based in Bengaluru, India.

She is also the current chairperson of IIM-Bangalore.

In 2014, she was awarded the Othmer Gold Medal, for outstanding contributions to the progress of science and chemistry.

She is on the Financial Times’ top 50 women in business list.

As of 2015, she was listed as the 85th most powerful woman in the world by Forbes.

In 2016, she was again listed as the most powerful woman in the world at 77th position by Forbes.

MUKUND CHOUDHARI ASSUMES CHARGE AS CMD OF MOIL

Mukund Chaudhari took over as Chairman and Managing Director (CMD) of MOIL Ltd, a miniratna company.

Prior to taking over as CMD, Chaudhari served as the Director (Finance) of MOIL.

Who is Mukund Chaudhari?

Mukund Chaudhari is a chartered accountant by profession.

He holds a long experience of over two and half decades in private and public sectors undertakings.

He had also worked in the private sector.

After joining MOIL in 1997, he held various positions in the company.

He was inducted in the Board of Directors of MOIL in August 2012 as Director (Finance).

He has varied experience in corporate financial management and he is instrumental for introduction of ERP system in MOIL recently.

About MOIL

MOIL Limited is a miniratna state-owned manganese-ore mining company headquartered in Nagpur, India.

It was formerly known as Manganese Ore India Limited.

With a market share of 50%, it was the largest producer of manganese ore in India in the fiscal year 2008.

MOIL Limited has been ranked #486 among the 500 top companies in India and 9th in the Mines and Metals Sector of the Fortune India 500 list for 2011.

MOIL operates 10 mines, six located in Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.

Its Balaghat mine is the deepest underground manganese mine in Asia.

 

 

 

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