Friday, 16 June 2017

Daily Update On Current Affairs - June 16, 2017

current affairs
Here's your daily summary of Current Affairs.

Foreign Tourist Arrivals Register Growth Of Around 19.5 % In May

Foreign Tourist Arrivals have registered a growth of around 19.5 percent in May this year over the same period last year. In a release, the Tourism Ministry said, six lakh thirty thousand foreign tourists arrived during the period. Bangladesh accounts for highest share of tourist arrivals followed by US and UK. The Ministry said, over 53 percent growth was registered in foreign tourists arrival on eTourist Visa in May this year over the same period last year. A total of over 68 thousand foreign tourists arrived on eTourist Visa as compared to 44 thousand during the last year.

Railways Claims Tribunal To Be Established In Andhra Pradesh Soon

Minister for Railways Suresh Prabhu has announced that a Railways Claims Tribunal will soon be established in Andhra Pradesh. He also assured that survey for dedicated freight corridor and high-speed railway line would be undertaken very soon. He was speaking after launching various Rail Infra Developmental Works in Vijayawada today. Mr. Prabhu said many projects are being taken along with the Andhra Pradesh government’s participation in joint ventures for which principle agreements have been made. 

India-South Korea Sign Agreements To Push Infrastructure Development And Bilateral Trade

India and South Korea has signed an agreement for $10 billion assistance for infrastructure development projects in India, including smart cities. It includes $9 billion in concessional credit and $1 billion in Official Development Assistance (ODA). Part of this fund will be utilised towards Smart City projects in India. With this agreement, South Korea has become one of the first non-G-7 countries to become an ODA contributor in India. The agreements were signed during the four-day official visit of Finance Minister Arun Jaitley to South Korea to attend the fifth India-Korea Financial Dialogue.

India Tops Global Remittance-Receiving List

India has claimed the top spot among the remittance-receiving nations, surpassing China. The United Nations, in its report, said Indians working across the globe sent home 62.7 billion US dollars last year. The 'One Family at a Time' study by the UN International Fund for Agricultural Development said, about 200 million migrants globally sent more than 445 billion dollars as remittances in 2016 to their families.

Foreign Tourists To Benefit From Standardization Of Medical And Wellness Costs

In a big relief to foreign tourists who visit India for medical and wellness tours, the government has decided to standardise the cost of such services and make the information available on a centralised web portal. Tourism Minister Mahesh Sharma said in New Delhi today that the decision had been taken in view of the healthy growth of medical and wellness tourism in the country. He said, the sector had been growing at a rate of 23 to 25 percent and there is a lot of potential in this. The Minister said that information regarding qualification of experts, the kind of services available and where to go for such services will be available on the web portal. He said the prices for such services will be the same all over the country.

China Launches Its First X-Ray Space Telescope

China has launched its first X-ray space telescope to study black holes, pulsars, and gamma-ray bursts. The telescope weighing 2.5 tonne was sent to the space using China’s Long March-4B rocket. The satellite was launched from the Jiuquan Satellite Launch Center. Black hole refers to the remains of a supergiant star that has collapsed into itself. It is so dense and has a gravitational field so intense, that light itself cannot escape from it. Pulsars are highly magnetized, rotating neutron stars that emit a beam of electromagnetic radiation. They are spherical, compact objects that are about the size of a large city but contain more mass than that of the sun. Scientists are using pulsars to study extreme states of matter, search for planets beyond Earth’s solar system and measure cosmic distance.

20 Indian Firms In Top 100 Companies In Asia 300 Ranking

As many as 20 Indian firms have been named in the latest list of top 100 companies in the Nikkei Asian Review's Asia 300. According to Nikkei Asian Review's second annual Asia 300 Power Performers Ranking, a compilation of the most powerful and valuable listed companies in Asia, three Indian companies have made it to the top 10 list. Taiwan's Largan Precision, the world's leading maker of lenses for smartphone cameras, tops the list. Indian IT service provider HCL Technologies came in at the second place, followed by Zee Entertainment Enterprises and Tata Consultancy Services at the third and fourth place respectively.

AIIB Approves $150 Million For India Infrastructure Fund

China-led Asian Infrastructure Investment Bank (AIIB) has approved $150 million equity investment loan to the India Infrastructure Fund. This loan will be the bank’s first equity investment to fund private projects. The $150 million investment would go the India Infrastructure Fund. The Infrastructure Fund aims to invest in mid-cap infrastructure companies in India.

IOC, BPCL, HPCL Sign Agreement To Set World’s Largest Refinery

The Public Sector Oil Marketing Companies, Indian Oil, Bharat Petroleum and Hindustan Petroleum have signed the joint venture agreement to jointly set up the world’s largest refinery and petrochemical complex in Ratnagiri district of Maharashtra. Indian Oil Corp (IOC) will hold 50% stake and the Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will each hold a stake of 25% each in the new complex. The refinery is expected to be set up at an estimated cost of Rs 3 lakh crore. The new complex is expected to be completed by 2022.

Union Cabinet Approves Proposal To Introduce The Financial Resolution And Deposit Insurance Bill 2017

The Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017 which will provide a comprehensive resolution framework for financial sector entities to deal with bankruptcy situation in banks, insurance companies, and other entities. The bill will pave way for the establishment of Resolution Corporation. The Resolution Corporation would be mandated to protect the stability and resilience of the financial system; protecting public funds; protecting the consumers of covered obligations up to a reasonable limit.

Israeli Author David Grossman Wins Man Booker International Prize


Israeli author David Grossman has won the Man Booker International Prize for his novel “A Horse Walks Into a Bar“. David Grossman has become the first Israeli author to win the Man Booker International Prize. He will share the £50,000 ($64,000) award money with his translator Jessica Cohen. David Grossman has also won other international awards. David Grossman’s 1986 novel “See Under: Love” is hailed as a masterpiece of his work which revolved around Holocaust and the generation of Jews that followed.

Neeru Chadha Becomes First Indian Women To Be Elected To International Tribunal For The Law Of The Seas


Law expert Neeru Chadha has been elected to the International Tribunal for the Law of the Seas (ITLOS). With this election, she has become the first Indian women to win a crucial election to a top UN judicial body that deals with disputes related to the law of the sea. Neeru has become the first Indian woman to be appointed as a judge at the ITLOS. ITLOS comprises of 21 independent members who are elected based upon their reputation for being a person with integrity. The person should also have necessary competence in the field of the law of the sea. Neeru has also earned a distinction of becoming the second Indian woman to occupy a top position at the United Nations after Lakshmi Pandit who served as the President of the United Nations General Assembly.

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