19-20 may
19 may
Indian-American Harkeert Singh Saini won Prestigious Police Award in Texas, US
Harkeert Singh Saini, an Indian-American policeman in third week of May 2015 won the prestigious Top Civilian Supervisor of the Year. He was awarded for his efficient services to the Houston Police department in the state of Texas of United States.
Saini who hails from Hoshiarpur district of Punjab received his award from Houston Mayor Anise Parker and Police Chief Charles A McClelland. He is a graduate from Deshbandu College in New Delhi.
44-year-old Saini shifted to Houston in 1998 and joined its police department in March 2000. During his 15-year service in Houston Police Department he was subsequently promoted as an office supervisor.
India Meteorological Department signed MoU with POSOCO Ltd to increase efficiency of power sector
The India Meteorological Department (IMD) under the Union Ministry of Earth Sciences on 18 May 2015 signed Memorandum of Understanding (MoU) with Power System Operation Corporation Ltd (POSOCO) for optimum use of weather information/forecast in the power sector.
POSOCO Ltd is a wholly owned subsidiary of Power Grid Corporation of India Ltd.
Highlights of the MoU
• All weather information provided by ESSO-IMD will be used by the Power System Operators across the India for better management of Indian Power System.
• IMD will make available current weather information for the identified stations; and forecasts at different time scales of temperature, humidity, wind speed, wind direction and rainfall of the identified stations/sectors.
• IMD will also provide weather warnings about likely occurrences of thunderstorm, heat wave, cold wave, rainfall, fog, etc. over various states for up to 72 hours.
• IMD will provide state or region wise Monthly/Seasonal outlooks of weather conditions.
• Both the parties agreed to provide expert opinion and knowledge support in areas of Weather information and its affect on power distribution system.
• Data and Inputs will be exchanged to encourage further study and research work.
• POSOCO will provide economic assessment of impact of weather and climate information. Regular feed mechanism will be put in place for continued up-gradation of the services.
Himachal Pradesh to host Paragliding World Cup 2015
Himachal Pradesh will host the Paragliding World Cup from 23 October to 31 October 2015 at Bir Billing in Kangra valley. The world cup will be held under the aegis of Para-gliding World Cup Association, France.
This is for the first time that India will be hosting the Paragliding World Cup which will see participation from over 50 countries.
The state was chosen to host the World Cup after it successfully conducted the paragliding pre-World Cup-2013.
For the successful conduct of the event, the state government has formed the Billing Paragliding Association (BPA) under the chairmanship of Sudhir Sharma who is the Urban Development Minister of HP. Further, the state government has directed to ban construction activities near the take-off and landing sites.
The success of the Paragliding World Cup 2015 would promote tourism as well as sports in the state.
US President Obama banned certain military-style equipment provided to US police
The President of United States (US) Barack Obama on 18 May 2015 banned giving certain kinds of military-style equipment to local police forces. He also called for a broader shift in law enforcement practices across the country.
This ban means that the armoured vehicles on tracks, camouflage uniforms and grenade launchers will no longer be given out to local police forces.
The ban was announced by the President during his visit to Camden, one of the poorest cities of New Jersey. The city attracted attention as a national model for better relations between the police and residents after it dissolved its police force and replaced it with a new county-run system through that prioritizes community ties.
The decision was taken in the backdrop of criticism that said that the police was heavy handed to deal with protests in Ferguson, Missouri, that turned violent. The series of fatal shootings by police increased mistrust and sparked protests across the US.
Background
The issue came into spotlight after a young black man was killed by a white police officer in Ferguson in 2014 and later in April 2015, another black man was killed in Baltimore after taken in police custody.
The US administration was criticized for being too lax about police practices. It was also criticized for not able to strike a right balance between the law enforcement and civil right activists.
Reliance Jio signed pact with Huawei for sourcing 4G devices
Reliance Jio Infocomm, a telecom subsidiary of Reliance Industries Limited (RIL), on 18 May 2015 signed a pact with Chinese telecom equipment manufacturer firm Huawei for sourcing various 4th Generation (4G) devices.
As per the pact, Huawei will supply 4G devices to Reliance Jio including smartphones, tablets and mifi dongles. This agreement will help Reliance in launching 4G service by 2015 in around 5000 towns and cities in India. It seeks to cover over 90 percent of urban India and over 2.15 lakh villages.
Background
It is mandatory for Reliance Jio and other Indian telecom companies to roll out the 4G services at the earliest by 31 August 2015 as they won Broadband Wireless Access (BWA) spectrum in 2010.
As per the licensing agreement, these services must be rolled out in at least 90 percent of the service areas, failing which the Department of Telecom (DoT) have the right to withdraw the radiowaves.
In this regard, DoT had announced the procedure to test network roll out of companies that have procured BWA spectrum.
Union Government sanctioned 30 new cold storage projects
Union Ministry of Food Processing Industries on 18 May 2015 sanctioned proposals for setting up 30 new cold storage chains in the country.
The total expected grant-in-aid to be released by the Ministry is 274.9 crore rupees which would attract an investment of 470 crore rupees.
These 30 new cold storage chains were sanctioned under the Integrated Cold Chain project. So far, 138 cold storage chains under the project have been sanctioned out of which 108 are under implementation. Out of these 52 cold storages have been completed and are operational.
Importance of the decision
• These 30 projects will help in creating a capacity of 1.12 lakh Million Tonnes (MT) of cold storage, 11.10 lakh litres per day of milk processing, 1434 MT per day of ripening chamber and 209 Reefer Vehicles.
• This decision will also help bridge the shortfall in handling capacity for at least 29-30 million tonnes (mt) of milk and dairy products, fruits and vegetables, fish and marine produce and cereals.
• It will also help in creating a Cold Chain Infrastructure to link the farmer with the consumer seamlessly and creating a Cold Chain Grid in the country.
• This decision along with earlier decision of setting up 17 Mega Food Parks will help attract a total investment of about 3077 crore rupees in the creation of infrastructure in food processing industry in the country.
India is the third largest food producer in the world yet barely 2.2% of fruits and vegetables in India are processed.
Also, Government estimates the food processing sector to be growing at 8.4% and comprised 13% of factory employment in 2012-13.
Apple Inc acquired GPS firm Coherent Navigations to improve Apple mapping capabilities
Apple Inc on 18 May 2015 acquired Coherent Navigation to improve Apple Mapping capabilities. Coherent Navigations is a company focused on hyper-accurate GPS. Coherent Navigation's High Integrity GPS system is supposedly so granular that it can provide accurate location information to within a few centimeters.
The acquisition is part of a series of map-related technology deals made by Apple in recent years.
Earlier, Apple acquired mapping start-ups BroadMap, Embark and HopStop.com as part of its acquisition spree, which accelerated shortly after the company’s decision to create its own alternative to Google Maps for the mapping feature on its devices.
Apple Maps has long struggled with providing accurate location information since phasing out Google Maps in 2012. Coherent Navigation's technology could theoretically be used to significantly enhance Apple's Maps product.
Coherent specializes in high-precision GPS, which combines standard GPS data with data from the Iridium satellite communications constellation. It makes devices for civilian use and was involved in numerous projects with the U.S. government, including military location technologies.
Infosys became the first Indian Company to Join RE100 Renewable Energy Campaign
Infosys became the first Indian Company to Join RE100 Renewable Energy Campaign. The Climate Group on 18 May 2015 announced it.
RE100 is a global platform for major companies committed to 100% renewable power.
Infosys joined some of the world’s most influential companies such as IKEA, Swiss Re, BT, Formula E, H&M, KPN, Mars, Nestlé, Philips, among others, which are taking bold steps to create transformative change needed to drive a clean energy revolution.
The company is already working to reduce its per capita electricity consumption by 50 per cent from its 2007-2008 levels and source all its electricity from renewable resources by 2018.
During fiscal year 2015, Infosys met 29 percent of its electricity needs - about 72.08 million units - for its locations across India through green power. During the same period, Infosys generated over 2911 MWh of electricity through its onsite solar PV installations across India.
Seventeen companies have now joined the campaign and made a public commitment to become 100% renewable, including founding members IKEA and Swiss Re. As the campaign spreads in India, it is expected that more Indian companies will switch to renewable power and demonstrate the huge opportunity that exists in India’s growing clean economy.
RE100 is a global initiative that celebrates and supports major companies committed to 100% renewable power across their operations. Its goal is that 100 of the world’s most influential businesses commit to 100% renewable power within a specified timeline. RE100 was launched at Climate Week NYC (New York City) on 22 September 2014.
New Catfish Species Glyptothorax Senapatiensis discovered in Manipur
The Scientists from the Zoological Survey of India (ZSI) discovered a new species of catfish named Glyptothorax senapatiensis in the Chindwin river drainage in Senapati district of Manipur. The discovery was published in the Ichthyological Exploration of Freshwaters journal in March 2015.
The discovery was published in the research paper titled Glyptothorax senapatiensis, a new species of catfish from Manipur, India. The lead authors of the research paper are Kosygin, Nongthombam Premananda and Bano Saidullah.
The people of the Chindwin river drainage region used to have this 6 cm long freshwater fish as food. They called this fish as Ngapang.
About Glyptothorax senapatiensis
• It is edible fish with high nutritional value and has high oil content.
• It has thoracic adhesive apparatus with U-shaped median depression opening caudally that helps the fish to cling on rocky riverbed in mountains against strong currents.
• It is distinguished from its congeners by a combination of characters: deep body, deep caudal peduncle, narrow head, short dorsalfin spine and short pectoral-fin.
• It has nasal barbell extending to middle of orbit; skin on head and body densely tuberculate.
Background
The catfish genus Glyptothorax is the most widely distributed genus of the family, extending from Turkey to Southern China and Java. The genus is very diverse in the Indian sub-continent. The Northeast has a rich aquatic biodiversity, with 361 of the 816 fish species found in India.
Moreover, Manipur has a high diversity of aquatic fauna because of the two important river drainage systems- the Barak-Brahmaputra drainage and the eastern and central valleys are crisscrossed by the Chindwin river drainage, and these account for the variety in the aquatic fauna.
Draupadi Murmu sworn in as first woman Governor of Jharkhand
Draupadi Murmu was on 18 May 2015 sworn in as the first woman Governor of Jharkhand since the state was granted statehood status after bifurcating from Bihar on 15 November 2000. With this, Murmu became the ninth Governor of Jharkhand.
She succeeded Syed Ahmed who was recently transferred as Governor of Manipur by President Pranab Mukherjee.
Jharkhand High Court Chief Justice Virendra Singh administered oath of the office of Murmu under the provisions of Article 159 of Constitution of India.
Draupadi Murmu is a two-time Bharatiya Janata Party (BJP) MLA from Odisha Assembly and had represented Rairangpur constituency. She had served as Cabinet Minister in the Naveen Patnaik led coalition government of Biju Janata Dal (BJD) and BJP.
She was the Minister of State (MoS) with independent charge for Commerce and Transport from March 2000 to August 2002.
Infosys announced to become carbon neutral by 2018
Infosys on 18 May 2015 announced to become carbon neutral by 2018. For this it earmarked an amount of 400 crore rupees. The company announced to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepens its commitment to sustainability.
The company will offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend 70 crore rupees in 2015 on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.
As part of its journey toward sustainability, Infosys will commission 55 MW of solar capacity, including 40 MW in Karnataka, in 2016. It will add another 110 MW of solar capacity in the coming years. It is already generating energy from 2.7 MW capacity solar panels on rooftops across its campuses in India.
Infosys consumed 257 million units of electricity globally during 2014-15, and 30 per cent of this came from renewable energy sources.
In 2011, Infosys had made an announcement at the United Nations committing to meet all its energy needs from renewable energy sources, to become carbon neutral, and to cut per capita power and water consumption by half (on 2007-08 baseline) by 2018.
The company said its per-capita power and water consumption declined by 45 per cent and 35 per cent, respespectively, during 2014-15.
From 2011, Infosys has spent about 50 million US dollar or 320 crore rupees retrofitting its equipment such as lighting, air-conditioning, power, etc. The buildings built after 2008 are all green structures complying with the highest sustainability standards.
Joe Root and Charlotte Edwards named England cricketers of the year 2014-15
Joe Root and Charlotte Edwards on 18 May 2015 were named as England men’s and women’s cricketers of the year 2014-15 respectively.
Root who was recently appointed vice-captain of England's Test team was named as the cricketer of the year for scoring 1135 test runs at an average of 95 including four scores of 149 and above. His top test score of the season was of 200 not out against Sri Lanka at Lord’s. He also made three one-day international centuries.
Charlotte Edwards, the women’s captain won the award for consecutive second year. She was chosen for averaging above 75 in ODIs and nearly 60 in Twenty20 internationals in the season. Under her leadership, England secured ODI series victories against India and New Zealand, alongside T20 series wins against South Africa and New Zealand.
She was also presented the silver England cap by the England and Wales Cricket Board to celebrate her 200th match as women’s captain against New Zealand in February 2015.
Other awards announced were
• England development programme cricketer of the year award: Saqib Mahmood, the Under-19s right-arm seamer of Lancashire and England
• England disability cricketer of the year award: Luke Sugg from the England visually impaired team
GMR Infra signed MoU with GIIC for developing Kakinada SEZ
GMR Infrastructure Ltd on 18 May 2015 signed a Memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) for developing Kakinada Special Economic Zone (KSEZ) in Andhra Pradesh.
The MoU was signed by Challa Prasanna, President of Kakinada SEZ (KSEZ) Pvt Ltd. It seeks to set up industrial park for Chinese high-end equipment manufacturing companies in Kakinada SEZ (KSEZ).
In this regard, GIIC plans to set up 2000 acres industrial park. The fully developed facility by KSEZ and GIIC will in turn generate over 5000 jobs for both skilled and unskilled workers.
For developing the infrastructure and various facilities of the industrial park, GIIC will invest 500 million US dollars. In addition, Chinese companies setting up units at the park will invest 2-3 billion US dollars on their operations for over five years.
About Kakinada Special Economic Zone
• The Kakinada Special Economic Zone (KSEZ) is a port based Multi Product Special Economic Zone, spread over approximately 10500 acres.
• Situated strategically on the Eastern Coast in an area rich in oil and natural gas deposits, this zone has an excellent logistical linkages to National Highways, Railway networks, Air and Sea Ports.
• This SEZ caters to the existing process industries and emerging industries like Refinery, Renewable Energy, Ship Building, Biotech, Nanotech, IT/ITES, Toys, Games and Sports Goods manufacturing Park, etc.
UNCTAD released a report titled Global Investment Trends Monitor
United Nations Conference on Trade and Development (UNCTAD) on 18 May 2015 released a report titled Global Investment Trends Monitor.
The report highlighted that developing Asia now invests more abroad than any other region. This UNCTAD trends monitor analyses the most recent trends in global outward investment and assesses its prospects for 2015. It covers outward FDI trends in developed, developing and transition economies.
Main highlights of the report
• Hong Kong (China) and China were the second and the third largest investors in the world, after the United States which remains the largest single source of outward foreign direct investment (FDI).
• Among the 20 largest investors, nine were either from developing or transition economies.
• In 2014, transnational corporations (TNCs) from developing economies alone invested almost half a trillion US dollar abroad − a 30% increase from the previous year.
• TNCs share in global foreign direct investment (FDI) reached a record of 36%, up from 12% in 2007, the year prior to the financial crisis.
• Developing Asia has become, for the first time, the world's largest investor region with 440 billion US dollar invested, followed by North America and Europe.
• Investments by developed country TNCs were largely flat at 792 billion US dollar, with the modest rise in flows from North America and Europe more than offset by a 16% decline in Japanese investment abroad.
• More than half of investments from TNCs based in developing economies were in equity, while as much as four-fifths of FDI outflows from developed country TNCs were in the form of reinvested earnings − the result of record amounts of cash reserves in their foreign affiliates.
• The value of cross-border merger and acquisitions surged to 399 billion in 2014 − 28% above 2013 levels. Megadeals dominated the scene in 2014. TNCs from the South continued to acquire developed country foreign affiliates in developing world.
• Announced greenfield investment projects rose by only 7% reaching 744 billion US dollar. The increase was driven mainly by investments from TNCs of the South. Greenfield investors from developed countries, however, account for a larger share (66%).
UNCTAD estimates that TNC investment appetite will improve, encouraged by better economic prospects, especially in the United States, proactive monetary policy in the Eurozone and the large cash holdings of companies. However, TNCs remain guarded due to the fragility in some emerging markets, exchange rate volatility and increased geopolitical tensions
20 may
SS Ahluwalia appointed as Chairman of JPC on Land Acquisition Amendment Bill, 2015
SS Ahluwalia was on 18 May 2015 appointed as the chairman of Joint Parliamentary Committee (JPC) on the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement (LARR) (Amendment) Bill, 2015.
The committee has 20 members from the Lok Sabha and 10 members from the Rajya Sabha.
The formation of the panel became necessary in the backdrop of disagreement among the political parties on the provisions of the bill which was introduced in the Lok Sabha on 11 May 2015.
The committee will submit its report by the first week of the 2015 monsoon session.
SS Ahluwalia is a BJP Lok Sabha member representing Darjeeling constituency in West Bengal.
Delhi Government decided to launch Pay & Play Scheme to promote sports
The state government of Delhi on 19 May 2015 decided to launch Pay & Play Scheme at the designated stadiums or sports complexes. The scheme is planned to promote sports for all age groups in the national capital.
The scheme would begin from 1 July 2015 in the morning session from 6 am to 9.30 am. The facilities would be free of cost for school students and disabled persons.
Under the scheme, people can play game available within the stadiums and complexes by paying a nominal fee of 100 rupees per month.
For this purpose, the state government has ordered opening up of several stadiums and sports complexes. It has also decided that academies or clubs or individuals will have access to government schools for sports promotion.
At present, the membership for sports facilities is available in Thyagraj Stadium, Ludlow Castle Sports Complex and Chhatrasal Stadium.
Fourth Corvette of Project-28 christened Kavaratti launched
The fourth Anti Submarine Warfare (ASW) Corvette of Project-28christened Kavaratti was on 19 May 2015 launched at Garden Reach Shipbuilders and Engineers Ltd (GRSE), Kolkata.
In keeping with the nautical traditions, the ship was launched by Manita Singh, wife of the Hon’ble Union Minister of State for Defence Rao Inderjit Singh.
The four ships of Project-28 built by GRSE, Kolkata have been designed indigenously by the Directorate of Naval Design, New Delhi and bear the testimony to the acclaimed legacy of Naval Designers. The ships have been constructed using high grade steel (DMR 249A) produced in India.
Key Characteristics of ASW Corvettes
- With a displacement of 3300 tonnes, the sleek and magnificent ASW Corvettes span 109.1 meters in length and 13.7 meters at the beam.
- They are propelled by four diesel engines to achieve speeds in excess of 25 knots and have an endurance of more than 3000 Nm.
- The P-28 corvettes also boast of revolutionary Rail-less Helo Traversing System, Foldable Hangar Door, use of Personnel Locator System and use of Carbon Fibre Reinforced Plastic (CFRP) Superstructure integrated with the Steel Hull in the third and fourth ships of the Class.
- These ships have common raft mounted Gear Box and Diesel Engines, which give the vessels very low radiated underwater noise.
- The P-28 Ships also have Total Atmospheric Control System (TACS) and an Integrated Platform Management System (IPMS) which include Integrated Bridge System as well as Battle Damage Control System.
- They also incorporate new design concepts for improved survivability, sea keeping, stealth and manoeuvrability.
- Enhanced stealth features of the corvettes have been achieved by including Low Radar Cross Section (RCS) signature through full beam superstructure, inclined ship sides and reduced Infra Red (IR) signature by use of Infra Red Suppression System (IRSS) device.
- The ships are also equipped to carry and operate one multiple role helicopter.
In addition to these features, Kavaratti will be packed with an array of state of art weapons and sensors, including a Medium Range Gun, Torpedo Tube Launchers as well as Rocket Launchers, Close-In Weapon System and Chaff System.
JICA agreed to lend 1165 crore rupees for Odisha Transmission System Improvement Project
India and the Japan International Cooperation Agency (JICA) on 15 May 2015 signed an ODA (Official Development Assistance) loan agreement to provide up to 21787 million yen (about 1165 crore rupees) for the Odisha Transmission System Improvement Project (OTSIP).
The agreement was signed by Joint Secretary in the Union Ministry of Finance S Selvakumar and JICA India Office Chief Representative Shinya Ejima in New Delhi.
The purpose of the loan is to assist in establishing a stable power supply to the state in advance of an expected large increase in power demand in the coming years due to rapid industrialization.
Features of ODA to OTSIP
• Transmission lines extending around 971 kilometers and 18 substations will be constructed to improve the power transmission efficiency and stabilize the power supply.
• Technologies like low-loss conductors and outdoor Gas Insulated Substations (GIS) will be established for some of the transmission lines and substations respectively for the first time in the state.
• The Odisha Power Transmission Corporation Limited will be the nodal agency to execute the project.
• The JICA will charge 0.8 percent per annum interest rate and the loan repayment period is 20 years in addition a 6 years grace period.
• The project will be completed by January 2020.
JICA has extended about 3400 crore rupees in ODA loans since 1981 for all-round development in Odisha.
It has also provided for loans up to 65260 crore rupees in ODA loans since 1958 for enhancement of power generation and transmission infrastructure in India.
HDFC Bank launched HDFC Bank Apollo Medical Benefits Card
HDFC Bank in partnership with Apollo Hospitals on 18 May 2015 launched HDFC Bank Apollo Medical Benefits Card, a co-branded medical benefits card which allows corporates to disburse medical allowances to their employees and has insurance cover for accidents.
The bank claimed that this is the first-of-its kind product in the country. The corporates can load the specified allowance onto the card every month which can be used by employees for medical expenditure at pan-India VISA/MasterCard outlets.
Highlights of this pre-paid medical card
The card comes with a free accidental death insurance of 3 lakh rupees.
It provides for free accidental death insurance and accident hospitalisation insurance apart from discounts at Apollo network including Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental across India.
It offers access to additional benefits such as discounts and facilities, including free ambulance services.
PM Narendra Modi concluded his three-nation tour to China, Mongolia and South Korea
Prime Minister Narendra Modi on 19 May 2015 returned to India after completing his tour to three nations namely China, Mongolia and South Korea.
During his six-day visit between 14 May and 19 May 2015 as part of Act East Policy, he met leaders of the three nations. The visit was aimed at achieving major objectives like
• Refreshing centuries old cultural relations through Buddhism
• Enhancing cooperation at the governmental level
• Emphasizing the Asian identity for collective efforts
• Engaging with the private sector for support to Make in India
• Interact with the Indian community residing in these countries
During the three-nation tour, India signed number of agreements with the three-nations, which would act as a booster in strengthening the bilateral ties.
He also interacted with top business leaders in China and South Korea and took a commitment of investment of several billion dollars in India to support Make in India initiative.
Highlights of the visit to China
• Prime Minister raised the boundary question with China and asked for an early settlement of the issue and decided to maintain peace and tranquility at the border point for maturity of relations.
• India-China signed 24 inter-governmental agreements.
• 21 business agreements worth 22 billion US dollars signed between Indian and Chinese companies.
• PM Modi inaugurated ICICI’s first branch in China at Shanghai.
Highlights of the visit to Mongolia
Modi is the first ever Prime Minister of India to visit the country
• India announced to provide one billion US dollar Line of Credit to Mongolia.
• India-Mongolia signed 13 agreements including enhancement in cooperation in border defence, air services, cyber security, renewable energy and others.
• Modi addressed to the Mongolian Parliament.
• Modi gifted a rare history manuscript to Mongolian President.
Highlights of the visit to South Korea
• Narendra Modi announced to set up a special panel to clear and fast-track South Korean investments into India. South Korea became the second country after Japan for which a special panel will be constituted.
• South Korea announced to invest 10 billion dollar for Indian infrastructure development.
• India-South Korea signed seven agreements including revised avoidance of double taxation, cooperation in audio-visual co-production, Youth Matters as well as co-operation between the National Security Council of India and South Korea.
Besides, an important element of Prime Minister’s visit was the way he met with people of Indian origin in the three countries in which he tried to connect them from India, like in China he asked Indian residents to encourage Chinese nationals to visit India or their village during their vacation.
Peter M Christian elected as eighth President of Micronesia
Peter M Christian on 11 May 2015 was elected as the eighth President of the Federated States of Micronesia.
Supreme Court Associate Justice Beauleen and Carl-Worswick administered the oath of office to him.
Before the present elevation, he was as a senator representing Pohnpei at-large for two terms between 2007 and 2015.
He also served as the Chairman of the Committee on Transportation and Communication during his 2007 term in the Congress.
The Federated States of Micronesia is an independent sovereign island nation in the Western Pacific Ocean consisting of four states viz., Yap, Chuuk, Pohnpei and Kosrae.
EU approved plan to use Naval Force to combat Smugglers and tackle Migration crisis
The European Union (EU) on 18 May 2015 approved a plan that empowers naval force to combat smugglers operating from Libya and tackle illegal migration in its territory.
The policy for an unprecedented naval operation against the smuggling of refugees from North Africa to Europe was approved by EU foreign ministers during a meet held in Brussels.
According to EU Foreign Policy Chief Federica Mogherini, the operation would be launched by June 2015, with a headquarters in Rome under Italian admiral Adm Enrico Credendino, who ran the EU's anti-piracy mission off Somalia, Operation Atalanta.
The naval operation that will involve the deployment of warships and surveillance aircraft off the coast of Libya, will be carried out in three phases and they are
• Intelligence gathering on smugglers
• Inspection and detection of smugglers' boats
• Destruction of boats before they reach Europe, which would help in destructing the business models of the smugglers and their networks
The decision on the policy was taken because the EU has been struggling to cope up with the illegal migrants from Africa and West Asia, who crosses the Mediterranean Sea to reach Europe.
Further, the United Kingdom (UK) is playing a leading role at the UN Security Council (UNSC) to draft a resolution that would give the European Union a legal basis to use military force against people traffickers.
Union Ministry of Finance released draft outline of Gold Monetization Scheme (GMS)
The Union Ministry of Finance on 19 May 2015 released the draft outline of Gold Monetization Scheme (GMS).
The Ministry prepared the draft after due deliberations and consultations with various stakeholders which includes banks, refineries, hallmarking centres, jewellers’ associations, Reserve Bank of India (RBI) and various government departments.
The Ministry has sought comments from stakeholders by 2 June 2015.
Features of Gold Monetization Scheme (GMS)
Objectives
• To mobilize the gold held by households and institutions in the country.
• To provide a fillip to the gems and jewellery sector in the country by making gold available as raw material on loan from banks.
• To reduce reliance on import of gold to meet the domestic demand.
Scope
Since the implementation of the scheme requires a vast set-up of infrastructure for facilitating easy and secure handling of gold, it will be initially launched only in selected cities and over time, as the infrastructure for assaying and refining of gold develops, will be extended to other cities.
Process of Gold Monetization by customers/Gold Mobilisation by Banks
Stage1: Customer willing to monetize gold, which is in the form of bullion or jewellary, will approach Purity Testing Centre (PTC). In a PTC, a preliminary XRF machine-test (Preliminary Test) will be conducted to assess the approximate amount of pure gold.
The minimum quantity of gold that a customer can bring is proposed to be set at 30 grams and around 350 Hallmarking Centres that are certified by the Bureau of Indian Standards (BIS) will act as PTCs to test the gold.
Stage2: After the preliminary assessment, if the customer gives his consent for melting the gold, a further test of purity (Fire Assay Test)will be conducted at the same PTC. The test will melt the gold and net weight of gold will be estimated.
Stage3: After the result of the Fire Assay Test, if the customer willing to deposit the gold he will be given a certificate by the collection centrecertifying the amount and purity of the deposited gold; Otherwise he can take back the melted gold in the form of gold bars after paying a nominal fee.
Stage4: The depositor produces the certificate at the bank and the bank in turn will open a Gold Savings Account for the depositor and credit the quantity of gold into the depositor’s account. Simultaneously, the PTC will also inform the bank about the deposit made.
Stage5: The bank will pay interest to the depositor after 30/60 days of opening of the account. The amount of interest rate to be given is proposed to be left to the banks to decide.
Both principal and interest to be paid to the depositors will be valued in gold. For example if a customer deposits 100 gms of gold and gets 1 per cent interest, then, on maturity he has a credit of 101 gms.
The tenure of deposit will be a minimum period of 1 year and with a roll out in multiples of one year. The depositor will have the option of redemption either in cash or in gold, which will have to be exercised at the time of deposit.
Similar to the Gold Deposit Scheme (1999), in which the customers received Capital Gains Tax, Wealth tax and Income Tax exemptions, the depositors of GMS also will receive similar benefits after due examination.
Utilisation of Mobilised Gold by Banks
PTC will send the gold to the refiners. The refiners will keep the gold in their ware-houses, unless the banks prefer to hold it themselves. The refiners will be paid a fee by the banks, as decided by them, mutually.
The banks will also be permitted to exercise following options regarding utilization of gold it collected from the depositors.
a) Deposit the mobilized gold as part of their Cash Reserve Ratio (CRR)/ Statutory Liquidity Ratio (SLR) requirements with RBI.
b) Sell the gold to generate foreign currency which can then be used for onward lending to exporters or importers.
c) Convert mobilized gold into coins for onward sale to their customers.
d) Can buy and sell on domestic commodity exchanges, where mobilized gold can be delivered.
e) Can lend to jewellers upon opening of Gold Loan Account for this purpose with the banks.
For implementation of the scheme, the banks will enter into a tripartite Memorandum of Understanding (MoU) with refiners and PTCs that are selected by them to be their partners in the scheme.
SEBI notified the Securities and Exchange Board of India (Mutual Funds) Regulations, 2015
The Security and Exchange Board of India (SEBI) on 20 March 2015 notified the SEBI (Mutual Funds) Regulations, 2015.
The notified regulations dropped the 20-25 rule requiring a minimum of 20 investors and a cap of 25 percent investment by an individual investor in a particular scheme, for certain foreign entities.
The rule will not be applicable to funds managed by local fund managers in regard to Category I and/or Category II FPIs (Foreign Portfolio Investors).
Category I FPIs includes government and government related entities and Category II FPIs includes both broad based entities such as mutual funds, investments trusts and persons such as portfolio managers, investment managers, asset management companies, banks among others.
The relaxation of the rule aimed at making easier for domestic mutual funds to manage offshore pooled assets.
Earlier, the funds not adhering to the 20-25 rule were bound to appoint a separate fund manager to manage the funds.
Maria Elena South, driest place on earth, discovered in Atacama Desert
The researchers have discovered the driest place on the Earth in the Atacama Desert in Chile. The site discovered is referred as Maria Elena South (MES).
The results of the discovery was presented in the paper, Discovery and microbial content of the driest site of the hyperarid Atacama Desert, Chile, published in March 2015 in the journal Environmental Microbiology Reports.
The lead author was Armando Azua-Bustos, an environmental biologist and research scientist at the Blue Marble Space Institute of Science in Seattle, US.
This discovery toppled the Yungay region which was so far the driest area of the hyper-arid Atacama Desert. Yungay region conditions were close to the so-called dry limit for life on Earth. However, with this discovery, MES is much drier than Yungay.
MES is dry as Mars and has a mean atmospheric relative humidity (RH) of 17.3 percent. It has a soil RH of a constant 14 percent at a depth of one meter.
Soil value taken from the MES site matches the lowest RH measurements taken on Mars by the Mars Science Laboratory at Gale Crater.
The fact that the conditions at MES site, in terms of dryness, are the closest to Mars it means that it is one of the best analogue models on Earth to understand and investigate the potential existence, and type of, microbial life in the Martian subsurface.
Tamils in Sri Lanka commemorated war dead for the first time at Mullivaikkal village
Mullivaikkal: The northern village of Sri Lanka where LTTE rebels fought their last fight
Mullivaikkal, the northern village of Sri Lanka was in news on 19 May 2015 as for the first time in six years the Sri Lankan Tamils publicly commemorated those Tamilians who lost their lives during the civil war between Liberation Tiger of Tamil Eelam (LTTE) and Sri Lankan Army.
The Mullivaikkal village is the village where LTTE rebels fought their last fight against security forces in a war that lasted for 37 years. The fight ended on 19 May 2009.
In the war, as per the United Nations estimates, some 40000 Tamil civilians were killed in the district that includes Mullivaikkal village where they had fled after the government declared it a safe area.
They were able to commemorate the day because the country's new government under President Maithripala Sirisena lifted a ban on commemorating Tamil victims.
The commemoration was presided over by the Tamil Chief Minister of Northern Province, CV Wigneswaran who lighted a ceremony lamp on the occasion at a makeshift memorial at Mullivaikal. Then hundreds of Tamils also lit oil lamps during the ceremony.
Besides, the Sri Lankan government also observed the 6th anniversary of defeat of LTTE with a Remembrance Day ceremony at Matara. Till 2014, 19 May was observed as Victory Day, but President Maithripala Sirisena government decided to change the nature of ceremony and renamed it as Remembrance Day for those who sacrificed for the unity of the country.
Actress Sudha Shivpuri died
Popular Indian stage, film and television actress Sudha Shivpuri died on 20 May 2015 due to multiple organ failure at a suburban hospital in Andheri. She was 77.
Now, she is survived by her son Vineet and daughter Ritu, who is an actress. She was married to veteran bollywood actor Om Shivpuri, who passed away on 15 October 1990.
Shivpuri gained popularity for her role as Baa in television show Kyuki Saas Bhi Kabhi Bahu Thi, the longest running TV show of Ekta Kapoor.
She began her acting career at an early age in 1977 with Basu Chatterjee’s film Swami. She also acted in films like Hamari Bahu Alka, Insaaf Ka Tarazu, Vidhaata, Sawan Ko Aane Do, Burning Train, Maya Memsaab and Pinjar based on Amrita Pritam's famous partition novel. Her works in TV shows include Rajni, Kasamh Se, Kis Desh Mein Hai Meraa Dil, Sheeshe Ka Ghar, Waqt Ka Dariya, Daman, and others.
In 2009, Sudha Shivpuri was conferred with the Sangeet Natak Akademi Award.
UN released World Economic Situation and Prospects Mid-2015 Update
The United Nations (UN) on 19 May 2015 released Mid-2015 World Economic Situation and Prospects (WESP) update. In the release, it has highlighted that world economy continues to grow at a modest pace.
It characterized the current world economic situation by five lows and they are low growth, low trade flows, low inflation, low investment, and low interest rates, combined with two highs: high equity prices, and high debt levels.
Growth prospects for World Economy
• Growth of world GDP will accelerate slightly from 2.6 percent in 2014 to 2.8 percent in 2015.
• This projection is a downward revision by 0.3 percentage points from the forecast presented in the World Economic Situation and Prospects 2015 in January 2015.
• In 2016, the global growth would improve to 3.1 percent.
• The growth divergence between various regions is widening in 2015, owing to differing impacts from the recent decline in the prices of oil and other commodities, as well as country-specific factors.
Growth in Developed Economies
• The growth momentum in the developed economies is picking up.
• The major developed economies will see growth at a rate of 2.2 percent in 2015 from 1.6 percent in 2014.
• These nations still faces considerable headwinds from the legacies of the global financial crisis, like subdued employment levels, elevated private and public sector debt and financial sector fragilities.
Growth prospects in Economies in transition
• Growth of these economies has been downgraded against backdrop of low oil prices.
• Gross Domestic Product (GDP) of these economies in transition will contract by 2 percent in 2015.
• The release suggests that the Russian economy will shrink and its impact would have a negative spillover effects on other countries of the region.
Growth prospects in developing economies
• The report predicts that growth in these economies will diverge. The average growth of the developing nations will remain at 4.4 percent in 2015, which is 3 percentage points below the pre-crisis pace.
• In Africa, there seems to be a strong divergence between oil-exporting and oil-importing economies. It may face a mixed picture, which will be caused due to falling commodity prices and declining exchange rates. It may register to see average growth at 4 percent in 2015 and 4.8 percent in 2016.
• In South Asia, the economic outlook has been painted as favourable, as most of the economies would experience strengthening of growth in 2015-2016. This growth will be strengthened on the back of stronger domestic consumption and investment, and a pick-up in exports.
• In Western Asia, nations which are termed as diversified economies would perform better than anticipation, but it may face fiscal pressures along with aggravating growth prospects for 2016, if the oil prices remain at the current low level for an extended period in the oil exporting economies
• Latin America and the Caribbean is expected to grow by only 0.5 percent in 2015 and by 1.7 percent in 2016 due to lower commodity prices and persistent domestic fragilities. The Bolivarian Republic of Venezuela will fall into a deeper recession, while Brazil and Argentina are expected to experience slight contractions.
Growth in Least Developed Countries (LDCs)
• The region is expected to grow at 4.9 percent in 2015, which is deceleration from 5.2 percent in 2014.
• Some LDCs like Ethiopia, Rwanda and Tanzania will see a robust and sustained economic growth.
• They will see a robust and sustained growth owing to investments in agriculture and infrastructure, expanding services sectors and rising domestic demand.
Growth prospects in India
In context of India, the report says that it will grow by 7.6 percent in 2015 and 7.7 percent in 2016, which means that it will surpass the growth of China, which will grow at 7 percent in 2015 and 6.8 percent in 2016.
Conclusion
WESP mid-2015 update identifies key challenges in the areas of monetary, fiscal, labour market and trade policies, and underlines the need for strengthened international policy coordination. Such coordination becomes ever more critical as the Member States of the United Nations are expected to adopt a new financing framework for sustainable development and an ambitious post-2015 sustainable development agenda.
President inaugurated 50th anniversary of India’s first historic climb of Mt. Everest in 1965
President Pranab Mukherjee on 20 May 2015 inaugurated the 50th anniversary of India’s first historic climb of Mount Everest in 1965 at Rashtrapati Bhavan. The event was organized by the Indian Mountaineering Foundation.
On 20 May 1965, Indian team led by Captain Mohan Singh Kohli of Indian Navy made history by climbing 8848-metres high Mt. Everest, the world’s highest peak, for the first time after a series of three unsuccessful attempt in as many as five years.
The team of Kohli comprised of 21-man and out of these nine men were successful in reaching the summit.
Nawang Gombu, the Sherpa who was the member of the team, became the first person to reach the summit twice, firstly with an American expedition in 1963.