INDIA & WORLD
India and UK sign three Bilateral Advance Pricing Agreements
The Central Board of Direct Taxes (CBDT) signed three Bilateral Advance Pricing Agreements (APAs) with the Competent Authority of United Kingdom (UK) to reduce tax litigation. Earlier both countries had exchanged mutual agreements amongst them under the Mutual Agreement Procedure (MAP) Article of the India-UK Double Taxation Avoidance Convention (DTAC). With this, CBDT so far has entered into 111 APAs. These three APAs cover international transactions in the nature of payment of intra-group service charges and pertain to the telecom industry. They also have a roll-back provision.
Mauritius PM inaugurates AYUR Herbarium project in Goa
Prime Minister of the Republic of Mauritius Anirood Jugnauth inaugurated AYUR Herbarium project in North Goa, an initiative by the pharmaceutical major in association with Union AYUSH Ministry. Jugnauth inaugurated the project at the property of Sandu Pharmaceuticals Ltd at Saligao village, 10 kms away from Panaji. The Mauritian Prime Minister along with his delegation is on a tour of India to reciprocate the cordial invitation of delegates of Goa government, who visited the island country in the recent past.
Twenty Nations sign agreement of International Solar Alliance as process begins
Over 20 countries, including India, Brazil and France have signed the framework agreement of the International Solar Alliance (ISA). The framework agreement of ISA was opened for signatures on the sidelines of CoP22 to the UN Framework Convention on Climate Change (UNFCCC) at Marrakech, in Morocco. The signing of the framework agreement has to be followed by ratifications by countries. The agreement will become operational after at least 15 countries have ratified it.
India, Japan sign landmark civil nuclear deal
India and Japan on Nov 11 signed a landmark civil nuclear cooperation deal after talks between Prime Minister Narendra Modi and his counterpart Shinzo Abe, a move that will boost bilateral economic and security ties and facilitate U.S.-based players to set up atomic plants in India.The two countries had reached a broad agreement for cooperation in civil nuclear energy sector during Mr. Abe’s visit to India in December 2015, but the deal was yet to be signed as some issues were yet to be worked out. India is the first non-NPT signatory to have such an agreement with Tokyo.The deal would allow Japan to export nuclear technology to India, making it the first non-NPT signatory to have such a deal with Tokyo. It would also cement the bilateral economic and security ties as the two countries warm up to counter an assertive China. Other nations who have signed civil nuclear deal with India include the U.S., Russia, South Korea, Mangolia, France, Namibia, Argentina, Canada, Kazakhstan and Australia.
India rises to second place in global business optimism index
The latest Grant Thornton International Business Report for the July-September quarter has placed India 2nd on the global scale for business optimism. During the April-June 2016 period, India was ranked at the 3rd position after being on top for two consecutive quarters. Indonesia took the top spot, with the Philippines coming in third. India was ranked third during the April-June period after being on top for two consecutive quarters. India regained its top position on this parameter, from second position in the April-June period, while profitability expectations also moved up.
India, Venezuela sign deals to increase oil production
India and Venezuela have signed an oil production deals worth about 1.45 billion US dollar to increase oil production. The agreement was signed between Oil and Natural Gas Corporation (ONGC), Venezeulas Petroleosde Venezuela SA (PDVSA), and Venezuela’s consortium Delta Finance BVin Caracas. The Indo-Venezuelan partnership created in 2009 is expected to double the daily oil production of San Cristobal field from 20,000 to 40,000 barrels of oil.
Andhra Pradesh tops World Bank’s energy-saving rankings
The sunrise state Andhra Pradesh has been ranked number one in the World Bank’s ‘Energy Efficiency Implementation Readiness’. The ranking of the states were released in the World Bank’s study report titled: ‘India’s State Level Energy Efficiency Implementation Readiness’. Andhra Pradesh topped with overall score of 42.01 followed by Rajasthan (41.89), Karnataka (39.34) and Maharashtra (39.29). Kerala, Gujarat, Delhi (UT), Punjab, Odisha and Uttar Pradesh are the other states in the top ten ranking in that order. Andhra Pradesh topped the list by achieving an energy saving of 1,500 million units (MU) i.e. around 650 MW in two years through use of LED lighting.
India, UNISDR sign Statement of Cooperation on Sendai Framework
India and United Nations Office for Disaster Risk Reduction signed a Statement of Cooperation (SoC) of the Sendai Framework on Disaster Risk Reduction (SFDRR). It was signed during the second day of the Asian Ministerial Conference on Disaster Risk Reduction (AMCDRR) 2016 held in New Delhi. SFDRR is an international Treaty that was approved by UN member states in March 2015 at the Third World Conference on Disaster Risk Reduction held in Sendai, Japan. Statement of Cooperation aims to ensure effective implementation and monitoring of the SFDRR through Training and capacity building for Asian countries. It also seeks at promoting international and regional cooperation to reinforce political commitment.
India-Bangladesh joint military exercise SAMPRITI-2016 to commence from 05 Nov
The joint military training exercise “Sampriti-2016” will be conducted between India and Bangladesh at Tangail, Dhaka, Bangladesh from 05 to 18 November 2016. Exercise SAMPRITI is an important bilateral defence cooperation endeavour between India and Bangladesh and will be the sixth edition of the exercise which is hosted alternately by both countries.
RCEP members worry over market access to China
The 15 Asia-Pacific nations including India of the Regional Comprehensive Economic Partnership (RCEP) are concern to give greater market access to Chinese goods without gaining in return. All these countries in the RCEP grouping are also worried about agreeing to eliminate tariffs altogether, a move that will mainly help China. RCEP is the proposed mega-regional Free Trade Agreement (FTA) between 16 Asia-Pacific countries including India, China, Japan, South Korea, Australia, New Zealand and the 10-member ASEAN bloc. Trade ministers of these countries are slated to meet on November 3-4 at Cebu, Philippines to take forward the FTA negotiations.
India, South Korea sign revised Double Taxation Avoidance Agreement
The Union Minister for Statistics and Programme Implementation, D.V. Sadananda Gowda has launched the International Household Survey Network (IHSN) Toolkit. He also had launched new Website of the Ministry of Statistics and Programme Implementation in New Delhi. The IHSN is a standard bench mark which can be used as an active management tool for better integration of administrative structures and statistical access for policy making.
India, New Zealand Sign Three Agreements
“India and New Zealand signed three agreements in the areas of double taxation avoidance (DTA), sports and food security to carry forward the ties between both sides. The agreements were signed in the presence of Prime Minister
Narendra Modi and his New Zealand counterpart John Key after the delegation-level talks in New Delhi. Both countries have reached an understanding on further co-operation on cyber security, counter-terrorism, customs, education and food safety. Signed agreements are:“(i) Arrangement between the Ministry for Primary Industries of New Zealand regarding Food Safety Cooperation and Food Safety and Standards Authority of India (FSSAI) “(ii) MoU on cooperation in the field of youth affairs and sports. It was signed between the Ministry of Youth Affairs and Sports of India and Sport New Zealand.“(iii) Protocol to the convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
India-Sri Lanka joint military exercise Mitra Shakti 2016 begins
The fourth edition of the India-Sri Lanka Joint Military Exercise ‘MITRA SHAKTI 2016’ began at Sinha Regimental Centre in Ambepussa, Sri Lanka. The main focus of this edition of joint exercise is to enhance inter-operability while carrying out Counter Terrorism (CT) and Counter Insurgency (CI) operations under the UN Man-date. Under this mandate the comprehensive training programme spanning fourteen days (24 October to 06 November 2016) has been drawn up. In this edition of exercise, India is being represented by a platoon from the RAJPUTANA RIFLES Regiment and Sri Lankan Army is represented by a platoon from the Sinha Regiment. The bilateral military exercise will be conducted in two stages in which both armies will get familiar each other’s respective methodology of such operations, arms and equipment and the command and control systems. It will also graduate towards tactical understanding to en-hance inter-operability while carrying out Counter Terrorism (CT)/ Counter Insurgency (CI) operations.
India ranks 87th on the WEF’s Global Gender Gap Report 2016
“India has been ranked 87th out of 144 countries on the World Economic Forum’s (WEF) Global Gender Gap Report 2016. India has climbed 21 spots from 108th position in 2015. The report measures gender gap as progress towards parity between men and women in four areas “(i) Educational attainment“(ii) Health and survival“(iii) Economic opportunity and (iv) Political empowerment. “The report was topped by Iceland (1st) followed by Finland (2nd), Norway (3rd), Sweden (4th) and Rwanda (5th). “In case of education attainment, India has made considerable strides moving up from 125th rank in 2015 to 113th in 2016. On economic participation and opportunity too, India has moved up to 136th rank in 2016, from 139th in the year 2015.
India ranks 130th in 2017 Ease of Doing Business index
“India has been placed at 130th position among the 190 countries in the recently released World Bank’s ease of doing business index for the year 2017. The index was released as part of the World Bank’s annual report Doing Business 2017: Equal Opportunity for All. This report had revised India’s rank to 131 from earlier 130th for the year 2016. Thus, India has improved its place by one spot in the 2017 index and its place remained unchanged from the previous original ranking of 130 in the year 2016. The ease of doing business index is annually released by World Bank in its Ease of Doing Business Report. It was introduced in 2004. In this index, ranking of country is based on index averages the country’s percentile rankings on 10 indicators each having equal weightage. A higher ranking of country in this list means that its regulatory environment is more conducive and favourable for the starting and operation of firms.“Top 10 Countries: New Zealand (1st), Singapore (2nd), Den-mark (3rd), Hong Kong (4th), South Korea (5th), Nor-way (6th), UK (7th), US (8th), Sweden (9th) and Macedonia (10th). “BIRCS Nations: India ranks lowest in Doing Business among the BRICS nations. Russia (40), South Africa (74), China (78), Brazil (123) and India (130). “India’s Neighbours: Bhutan (73), China (78), Nepal (107), Sri Lanka (110), Pakistan (144) and Bangladesh (176).
Read more: Current Affairs Nov 2016 Study Material | FreeJobAlert.com http://currentaffairs.freejobalert.com/nov-2016-current-affairs-study-material/14582/#ixzz5TM9O4ulk
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