G.K. Update 24 may 2016 (English)
By: D.K. Choudhary
27TH INDIA AND INDONESIA CORPAT CONCLUDES IN BELAWAN
The 27th edition of the India-Indonesia CORPAT has concluded in Belawan, Indonesia.
The navies of both countries conducted interactive session on measures to enhance inter-operabilit.,
iii. The 27th CORPAT was held from 29 April to 19 May 2016.
The exercise is being carried out to keep the vital part of the Indian Ocean Region safe and secure for commercial shipping and international trade.
BIHAR GOVERNMENT BANS GUTKA AND PAN MASALA
Bihar CM Nitish Kumar has announced the ban on sale, distribution, storage, manufacture, consumption and publicity of tobacco products like gutka and pan masala.
Last month state government announced complete ban on the sale of any types of liquor in the state, but had allowed sale of Indian Made Foreign Liquor in towns and cities.
WORLD BANK ARM IFC TO INVEST $68 MN IN APOLLO HEALTH
World Bank subsidiary arm International Finance Corporation is planning to invest US$68 million in Apollo Health & Lifestyle ltd .
AHLL is a subsidiary of Apollo Health Enterprises Limited and includes a network of primary healthcare clinics across the country.
iii. This investment is the part of the overall raise of Rs 900 crore investment which was earlier invested by IFC.
FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEET HELD SENDAI
Finance ministers and central banks governor from the Group of Seven developed nations meeting in Sendai, Japan.
They have held discussions on the world economy, ahead of next week’s G7 summit to be held on 26-27th May in Ise-Shima, central Japan.
iii. The G-7 financial leaders discussed the future of the global economyto put the global economy back on track and achieve sustainable growth.
They also discussed ways of dealing with tax evasion and questionable tax avoidance in reaction to disclosures in the Panama Papers.
US HOUSE OF REPRESENTATIVES GAVE CONSENT TOBOLSTER DEFENCE TIES WITH INDIA ON PAR WITH NATO
The US House of Representatives have given its nod to improve defence ties with India.
An amendment to the National Defence Authorisation Act was approved by the House.
iii. The amendment is dubbed as ‘Enhancing Defence and Security Co-operation with India’.
It will bring the country’s bilateral relations with India on par with its NATO allies and Israel.
It encourages the executive branch to designate an official to focus on US-India defence cooperation.
IFC TO INVEST $20 MILLION IN FCEL
Future Consumer Enterprise Ltd has informed the stock exchanges that International Finance Corporation will invest $20 million in the company through equity-linked instruments.
It will use the funds to support growth plans and strengthen its balance-sheet.
HSBC TO SHUT DOWN HALF OF ITS BRANCHES IN INDIA, 300 JOBS TO GO
UK based banking giant, HSBC Holding Plc stated that it plans to close 24 branches in India.
The decision comes after a strategic review of its retail banking and wealth management business showed customers are increasingly opting for digital banking services.
iii. This decision will impact around 10 % of the company’s retail customer base and lead to 300 jobs losses.
BINALI YILDIRIM SET TO BECOME PRIME MINISTER OF TURKEY
Transport Minister of Turkey Binali Yildirim is all set to become as the country’s Prime Minster.
He will succeed Ahmet Davutoglu, who earlier stepped down due to differences with President Recep Tayyip Erdogan.