INTERNATIONAL
UN-Habitat Released World Cities Report 2016
The UN-Habitat on 18 May 2016 released the new global flagship report on sustainable urban development titled World Cities Report 2016, Urbanization and Development: Emerging Futures. The report states that a New Urban Agenda is needed to unlock the transformative power of cities. The top 600 cities, with 1/5th of the world’s population, produce 60 percent of global GDP. Since the last UN conference on cities Habitat II in Istanbul in 1996, the center of gravity for megacities has shifted to developing regions. India is projected to add 300 million new urban residents by 2050 and it will need to build climate-friendly cities to address the challenge of accommodating the needs of the growing population. India should plan to build 100 smart cities in response to the country’s growing population and pressure on urban infrastructure.
Duterte Won the Philippines Presidential Election
Rodrigo “Digong” Duterte, the outspoken mayor and a Presidential candidate of the PDP-Laban combine claimed victory in the Presidential Elections of the Philippines. In the Presidential election held on 9 May 2016, Rodrigo Duterte secured 39% (15.36 million) of the votes. He was followed by Mar Roxas 23% (9.27 million) votes and his closest rival Grace Poe with 22% (8.6 million) votes. He will become the 16th President-elect of Philippines. Duterte was born in 1945 into a political family with a modest background.A lawyer by profession he became vice-mayor of Davao in 1986 and mayor in 1988.”
Bison Declared U.S. National Mammal
US President Barack Obama on 9 May signed National Bison Legacy Act into law officially making the American bison the country’s first national mammal. With this, Bison, the animal that once roamed North America, joins the ranks of the Bald Eagle as the official symbol of the country.Its designation as national mammal do not hampers bald eagle’s position as the national animal because eagle that is birthed through eggs in not a mammal.
China Begins Construction of Tibet’s Biggest Dam
China has started construction of its biggest hydropower project in Tibet costing over $3 billion which will supply electricity to the economically well-off regions in the country’s eastern region. The Suwalong hydropower project at the junction of Mangkam county in Tibet and Batang county in Sichuan province has a design capacity of 1.2 gigawatts and will be able to generate about 5,400 gigawatt hours of electricity a year when completed in 2021. The design capacity is more than double of Zangmu hydropower plant on Brahmaputra river which is Tibet’s largest existing hydro project. It was completed in October last year. It is hoped that the 18 billion yuan ($3 billion) Suwalong dam, could pave the way for other projects in the headwaters of the adjacent Nu (Salween) and Lancang (Mekong) rivers to fuel development of hydro power in Tibet.
Pakistan, China Signed agreement To Launch Satellite To Monitor CPEC projects
Pakistan and China have signed an agreement for the launch of a special satellite to monitor the development of the USD 46 billion China-Pakistan Economic Corridor (CPEC) projects. Pakistan Minister for Planning, Development and Reform, Ahsan Iqbal on behalf of Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) and China Great Wall Industry Cooperation (CGWIC) President Yin Limping signed the agreement in Islamabad, Pakistan.
INDIA & WORLD
PM Narendra Modi, Sri Lankan President Released Simhastha Declaration
The Prime Minister along with Sri Lankan President Maithripala Sirisena on 14 May released ‘Simhastha Declaration’ at Ninora village in Ujjain.Both leaders addressed the concluding session of the three day International Vichar Mahakumbh held on side-lines of the month-long Simhastha mela. 51 sacred points have been included in this declaration for betterment of mankind and these elixir points for India and the world.
India, WHO Signed Pact To Promote Yoga, Ayurveda
The Union Ministry of AYUSH and the World Health Organization (WHO) on 13 May 2016 signed the Project Collaboration Agreement (PCA) for cooperation on Global promotion of Traditional Systems of Medicine. The agreement was signed by Ajit M Sharan, Secretary of Union Ministry of AYUSH and, Dr Marie Kieny, Assistant Director General of Health Systems and Innovations at WHO in Geneva.
India Third In Attractiveness Index of Renewable Energy
India’s renewable energy sector has been ranked third in the Renewable Energy Country Attractiveness Index (RECAI) with China at second and the US on top. Global organization EY on 10 May 2016 released the Renewable energy country attractiveness index 2016. The report reveals 40 countries on the attractiveness of their renewable energy investment and deployment opportunities based on a number of indicators.
India and Mauritius Signed Protocol To Amend Taxation Methods
India and Mauritius on 10 May signed a protocol on taxation at Port Louis, Mauritius. The protocol provides for amending the convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains. With this Protocol, India gets taxation rights on capital gains. They arise from alienation of shares acquired on or after 1 April 2017 in a company resident in India with effect from financial year 2017-18. Taxation in India at full domestic tax rate will take place from financial year 2019-20 onwards. The benefit of 50% reduction in tax rate during the transition period from 1 April 2017 to 31 March 2019 shall be subject to LOB Article. Interest arisi-ng in India to Mauritian resident banks will be subject to withholding tax in India at the rate of 7.5 percent in respect of debt claims or loans made after 31 March 2017.
175 Nations Signed Historic Paris Climate Agreement
World leaders from 175 countries signed the historic Paris climate Agreement at United Nations Headquarters in New York along marking a significant step to combat global warming. On behalf of India, Union Environment Minister Prakash Javadekar signed the agreement at a high-level ceremony hosted by UN Secretary-General Ban Ki-moon on the occasion of Earth Day (22 April). The ceremony was attended by heads of governments, foreign ministers, corporate leaders and artists from across the world. The agreement will come into force 30 days after at least 55 Parties to the UNFCCC, accounting for at least 55 percent of global emissions ratify the agreement.
Read more: Current Affairs May 2016 Study Material | FreeJobAlert.com http://currentaffairs.freejobalert.com/may-2016-current-affairs-study-material/13014/#ixzz5SshDCO8x
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