International News
- 9th BRICS Summit 2017 Highlights
The 9th BRICS Summit was held from 3rd to 5th September in Xiamen, China. The Summit had five participating countries namely Brazil, Russia, India, China and South Africa. The summit was hosted by China for the second time after the 2011 Summit. The theme of the 2017 BRICS Summit was “BRICS: Stronger Partnership for a Brighter Future”.
Important Highlights of the Summits are as follows-
(i) Pak-based terror groups named for 1st time: Terror groups such as LeT and the JeM were named for causing violence in the region, a first by the forum.
(ii) Modi-Xi bilateral meet post Doklam: Prime Minister Narendra Modi and Chinese President Xi Jinping held their first substantive bilateral meeting after the 73-day Dokalam standoff.
(iii) 4 documents inked to boost commercial ties among BRICS nations: Four documents, including on economic and trade cooperation, were signed by the BRICS countries today with an aim to deepen commercial ties among the grouping's members.
(iv) Modi-Putin meet: The two leaders met on the sidelines of the BRICS Summit. This was Modi's first bilateral meeting since his arrival. They discussed ways for boosting bilateral trade and investment along with the security situation in Afghanistan.
(v) Five banks of BRICS Nations Sign Pact for Credit Lines: Five banks of the BRICS Bank Cooperation Mechanism have agreed to establish credit lines in the national currencies and cooperate on credit ratings. Brazilian Development Bank, Vnesheconombank, Export-Import Bank of India, China Development Bank and Development Bank of South Africa signed the agreement.
(vi) China Announced $80 Million (apprx.) Funding Plan for BRICS: China will give 500 million yuan ($76.4 million) for a BRICS economic and technology cooperation plan, and another $4 million for projects at the BRICS countries' New Development Bank stated Chinese President Xi Jinping.
Important Takeaways from BRICS-
(i) BRIC was established in 2006.
(ii) The BRIC, comprising, Brazil, Russia, India and China formally came into existence in 2006 and its first Summit was held in 2009.
(iii) South Africa was admitted in 2011 and it became BRICS.
(iv) The first BRIC Summit was held in Yekaterinburg, Russia.
Representatives of the Summit from the Five Countries are as follows-
Brazil- Michel Temer (President)
Russia- Vladimir Putin (President)
India- Narendra Modi (Prime Minister)
China- Xi Jinping (President)
South Africa- Jacob Zuma (President)
- List of MoUs Signed During Visit of PM Modi to Myanmar
After attending the BRICS Summit in China, PM Modi left for his three-day visit to Myanmar. He was received by the Myanmar President Htin Kyaw. Following set of agreements were signed between the two nation.
(i) MoU on Maritime Security Cooperation
(ii) Cultural Exchange Programme for the year 2017-2020.
(iii) MoU on Enhancing the Cooperation of the Upgradation of the Women's Police Training Centre at Yamethin, Myanmar.
(iv) MoU for Sharing White Shipping Information between the Indian Navy and Myanmar Navy
(v) Technical Agreement for providing Coastal Surveillance System
(vi) MoU between the Central Drugs Standard Control Organization (CDSCO), Ministry Of Health and Family Welfare of the Republic of India and Food and Drugs (FDA), Ministry of Health and Sports of Myanmar on Cooperation in Medical Products Regulation.
(vii) Exchange of Letter for Extension of MoU on the establishment of MIIT
(viii) Exchange of Letter for Extension of MoU on the establishment of India-Myanmar Center for Enhancement of IT-Skill
(ix) MoU in the field of elections between the Election Commission of India and The Union Election Commission of Myanmar.
(x) MoU on Cooperation between Myanmar Press Council and the Press Council of India.
- Sushma Swaraj to Attend 3rd Eastern Economic Forum in Russia
(i) External Affairs Minister Sushma Swaraj arrived in Russian port city of Vladivostok on a three-day visit to attend the third Eastern Economic Forum which will deliberate on pressing issues relating to global trade. Delegates from at least 24 countries are attending the gathering.
(ii) She will also hold bilateral talks with her Russian counterpart Sergei Lavrov. The Eastern Economic Forum is considered as the biggest international communication platform for cooperation between businesses leaders and senior government representatives from Russia, the Pacific Region and the Association of Southeast Asian Nations (ASEAN).
Important Takeaways from Above News-
(i) Vladimir Putin is the Present President of Russia.
(ii) Moscow is the Capital of Russia.
- NHAI Awards First International Project in Myanmar to Punj Lloyd-Varaha
(i) The National Highway Authority of India has awarded its first international project in Myanmar to a joint venture of Punj Lloyd-Varaha. This is for the upgradation of the Yagyi–Kalewa section in Myanmar to two lanes with earthern shoulder in the engineering, procurement, and construction mode.
(ii) The 120-km-long project was estimated to cost Rs. 1,177.02 crore and is to be completed within 36 months. Punj Lloyd-Varaha’s bid was identified as the most competitive among four qualified bidders. It was at Rs. 1,177 crore.
Important Takeaways from Above News-
(i) Nitin Jairam Gadkari is the Cabinet Minister of Road Transport and Highways.
- Surya Kiran: Indo-Nepal Joint Military Exercise
(i) The 12th edition of India-Nepal joint military exercise- Surya Kiran XII was held at Nepal Army Battle School (NABS) in Saljhandi, Nepal. The 14-day exercise focused on skills required counter-terrorism and counter-terror, forest fighting and natural disaster management operations.
(ii) The Surya Kiran series of bilateral military exercises are conducted bi-annually, alternatively in India and Nepal. It is the largest exercise in terms of troop’s participation in series of military training exercises undertaken by India with various countries.
Important Takeaways from Above News-
(i) Bidhya Devi Bhandari is the present President of Nepal.
(ii) The Capital of Nepal is Kathmandu and its Currency is Nepalese Rupee.
- China Bans Raising Funds Through Cryptocurrencies
(i) China has banned individuals and organizations from raising funds through Initial Coin Offerings (ICO), or launches of digital currencies, saying the practice constituted illegal fund-raising.
(ii) ICOs have become a bonanza for digital currency entrepreneurs, globally and in China, allowing them to raise large sums quickly by creating and selling digital “tokens” with little or no regulatory oversight.
Important Takeaways from Above News-
(i) Xi Jinping is the Present President of China.
(ii) Renminbi is the Currency of China.
National News
- Yogi Adityanath and Rajnath Singh Flagged-off Lucknow Metro
(i) Union Home Minister Rajnath Singh and UP CM Yogi Adityanath jointly flagged off its commercial run.
(ii) The 8.5-km 'priority corridor' from Transport Nagar to Charbagh will be operational from 6 am to 10 pm daily. Rs. 6,00,080 crore has been spent in the Lucknow Metro Project.
Important Takeaways from Above News-
(i) Chennai, Delhi, Bangalore, Gurgaon, Mumbai, Kolkata, Kochi and Jaipur already had Metro Services in India.
(ii) With the inclusion of Lucknow Metro, now India has total 9 Cities that has Metro Service.
(iii) Kolkata was the first city to have Metro Rail Service in India.
- Narayana Murthy Receives PLuS Alliance Prize
(i) Infosys co-founder N R Narayana Murthy and Mumbai-born scientist Veena Sahajwalla have been conferred the PLuS Alliance Prize.
(ii) The Prize of USD 50,000 was awarded in two categories; Education Innovation and Research Innovation. Murthy was presented the PLuS Alliance Prize for Global Leadership while Professor Sahajwalla was awarded the PLuS Alliance Prize for Research Innovation for her project 'The new science of green manufacturing,'
Important Takeaways from Above News-
(i) PLuS Alliance Prize is a prestigious honor that recognizes Research Innovation, Education Innovation, Global Leadership and Global Innovation.
- Reliance General Insurance Gets IRDAI Nod for IPO
(i) Reliance General Insurance has received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its initial public offering (IPO).
(ii) The insurance firm, which is a 100 per cent subsidiary of Reliance Capital, is expected to list during the ongoing fiscal. Reliance Capital plans to dilute about 25 per cent of its holding in the insurer. Currently, ICICI Prudential Life is listed on the stock exchange, while Max Life insurance is indirectly listed through holding company Max Financial Venture.
Important Takeaways from Above News-
(i) T S Vijayan is the Present Chairman of IRDAI.
Sports News
- Indian Shooter Ankur Mittal Wins Double Trap Silver at ISSF World Cup
(i) India’s Ankur Mittal won his maiden ISSF World Cup medal by clinching silver in the double trap event of the edition being held in Moscow.
(ii) Mittal scored 74 points in the final round and fell an agonizing one point short of tying with the eventual gold medallist from Australia, James Willett. His 75 points is also a new world record.