Current Affairs Today : 01/06/2017

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Current Affairs Today : 01/06/2017

Official Development Assistance

✪Japan has committed ‘Official Development Assistance’ (ODA) of 371.345 billion yen (about Rs.21,590 crore) under 2016-17 for various infrastructure projects, including the dedicated freight corridor, in India.
Note: The total commitment of Japan International Cooperation Agency ODA during two financial years 2015-16 and 2016-17 is 761.40 billion yen, which is 43.50% of the total target for five years.

✪A mega conference (4-day event) of world parliamentarians held in Dhaka. It was orga- nized jointly by the Geneva-based IPU (Inter Parliamentary Union) and Bangladesh’s Parliament the Jatiya Sangsad.
Note: Indian Nobel Peace Prize Laureate Kailash Satyarthi was the keynote speak- er at the opening session of the debates. The objective of the conference was to focus on ways and means to end political and economic inequality and uphold democracy and human rights.

Special economic zone:

✪China has announced to establish a new special economic zone in the heavily pollut- ed province of Hebei to promote integration with the neighbouring cities of Beijing and Tianjin.
Note: It is currently implementing a plan aimed at integrating the economies of Hebei, Beijing and Tianjin, a heavily polluted region known as Jing-Jin-Ji.

✪India and Malaysia on 1st April, 2017 agreed to cooperate to defeat Islamic State militants and the growing threat of radicalization and extremism. Both sides also signed agree- ments on air services, sports, human resources, palm oil production and research, and technological development.

Note: To popularize courses in Ayurveda, the Government of Malaysia and the Universiti Tunku Abdul Rahman would provide courses in Ayurveda.

* President ‘Pranab Mukherjee’ has inaugurated the three- day Centenary Celebrations of the ‘Osmania University’ and also take part in the first convocation of the English and Foreign Languages University (EFLU) in Hyderabad. The Osmania University is the largest institute in Asia with the maximum number of affiliated colleges of over 1000.

Inter Globe Aviation:

✪Inter Globe Aviation has set up a wholly- owned subsidiary for airport services, ‘Agile Airport Services Pvt Ltd’ with apaid-up cap- ital of Rs.1 lakh.

✪A joint US-Israeli missile interceptor meant to counter the type of medium-range missiles possessed by Iranian-backed Hezbollah mil- itants became operational on 3rd April, 2017. It completed Israel’s multilayer defense sys- tem amid tensions on its frontiers with Syria and Gaza.

✪Myanmar has become the 7th member of South Asia sub-regional Economic Cooperation (SASEC) program of the Asian Development Bank (ADB). It was officially made member at the SASEC Finance Ministers’ meeting held in New Delhi and chaired by Union Finance Minister Arun Jaitley.

Legal money

✪Japan has officially recognized Bitcoin and digital currencies as legal money with effect from 1st April, 2017. The recognition comes after implementation of a new law amending Banking Act in Japan for legalizing these currencies.
Note: This will help in integration of digital cur- rency into legal banking system through regulatory scrutiny. Bitcoin is a form of digital currency or virtual currency creat- ed and held electronically. It was invent- ed by a group of programmers, under the name of Satoshi Nakamoto.

✪India’s trade deficit with China has been recorded at 46.7 billion US dollars during the April-February period of the last fiscal.

Overall trade with China during the 11-month period decreased marginally by 0.87 % to 64.57 billion US dollars.
Note: India’s exports to China grew by 8.69% to 8.94 billion US dollars while imports declined by 2.26% to 55.63 billion US dollars.

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