The next year's BRICS Summit will be held in the Russian city of Ufa after the
grouping's successful meeting in Brazil that saw an agreement being
reached on establishing a development bank and a contingency reserve
arrangement.
Thursday, July 17, 2014
Wednesday, July 16, 2014
Prime Minister meets Russian President
Prime
Minister Narendra Modi has favoured broadening of the strategic
partnership with Russia in nuclear, defence and energy sectors and
invited President Vladimir Putin to visit Kudankulam atomic power
project during his trip in December for his annual summit.
The two leaders met for 40 minutes on the sidelines of the BRICS
summit in Fortaleza late on 15-07-2014 night after their Monday meeting was
deferred because of Putin's engagements in capital Brasilia
BRICS summit to start a new development bank
The
BRICS Summit on 15-07-2014 decided to establish the new development bank
with an initial authorised capital of USD 100 billion for which the
initial subscribed capital will be equally shared by the founding
members, a point New Delhi emphasised to prevent by domination by anyone
of the members.
A currency reserved pool mechanism has also been agreed upon.
A currency reserved pool mechanism has also been agreed upon.
Dilip Kumar's ancestral home in Pak declared national heritage
Legendary actor Dilip Kumar's ancestral home has been declared as a national
heritage and Prime Minister Nawaz Sharif has ordered authorities to
acquire the dilapidated property, a move he hopes would bring Pakistan
and India closer.
Rajya Sabha passes TRAI Bill
The Telecom Regulatory Authority of India (Amendment) Bill, passed in
Lok Sabha on 14-07-2014 (Monday), was approved in Rajya Sabha on 15-07-2014 (Tuesday) by voice
vote.
Thus cleared a Bill to remove legal hurdles that were coming in the way of appointing former TRAI chief Nripendra Misra as Principal Secretary to the Prime Minister amid strong opposition by Congress.
Moving the Bill in Upper House, Law and Telecom Minister Ravi Shankar Prasad said it was aimed at removing "a palpable anomaly" as existing law allows a former TRAI Chairman to take up private job two years after retirement but bars the person from taking up a government job ever in life.
Other regulatory bodies like Competition Commission, Airports Economic Regulatory Authority and SEBI do not have such provision, he said, adding the government decided to amend the law to bring parity among all regulatory bodies.
Thus cleared a Bill to remove legal hurdles that were coming in the way of appointing former TRAI chief Nripendra Misra as Principal Secretary to the Prime Minister amid strong opposition by Congress.
Moving the Bill in Upper House, Law and Telecom Minister Ravi Shankar Prasad said it was aimed at removing "a palpable anomaly" as existing law allows a former TRAI Chairman to take up private job two years after retirement but bars the person from taking up a government job ever in life.
Other regulatory bodies like Competition Commission, Airports Economic Regulatory Authority and SEBI do not have such provision, he said, adding the government decided to amend the law to bring parity among all regulatory bodies.
WTO panel faults US duties on Indian steel
World Trade Organization dispute settlement panel, said that Washington had
"acted inconsistently" with regulations set down for the international
body's 160 member economies.
India filed its complaint at the WTO in 2012, after Washington imposed duties of nearly 300 per cent on imports of products including steel pipes.
The United States applied the duties because it felt Indian steel manufacturers were benefitting from unfair subsidies.
WTO members are allowed to impose so-called countervailing duties -- a special import tax -- if they believe that their domestic manufacturers are being hurt by subsidies granted by a trade partner to its companies.
The WTO regulations require the importing country to first conduct a detailed investigation that shows properly that domestic industry is hurt.
India filed its complaint at the WTO in 2012, after Washington imposed duties of nearly 300 per cent on imports of products including steel pipes.
The United States applied the duties because it felt Indian steel manufacturers were benefitting from unfair subsidies.
WTO members are allowed to impose so-called countervailing duties -- a special import tax -- if they believe that their domestic manufacturers are being hurt by subsidies granted by a trade partner to its companies.
The WTO regulations require the importing country to first conduct a detailed investigation that shows properly that domestic industry is hurt.
Tuesday, July 15, 2014
President of India to present Gandhi peace prize 2013
The President of India, Shri Pranab Mukherjee will
present the Gandhi Peace Prize for the year 2013 to Shri Chandi Prasad
Bhatt tomorrow (July 15, 2013) at a function at Rashtrapati Bhavan.
The Gandhi Peace Prize was instituted by the Government of India in 1995 on the occasion of the 125th birth anniversary of Mahatma Gandhi. This annual award is given to individuals and institutions for their contributions towards social, economic and political transformation through non-violence and other Gandhian methods. Previous recipients of the award include Dr. Julius K. Nyerere, former President of Tanzania; Dr. A.T. Ariyaratne, Founder President of Sarvodaya Sharamadana Movement, Sri Lanka; Dr. Gerhard Fischer of Germany; Rama Krishna Mission; Baba Amte; Dr. Nelson Mandela and Grameen Bank of Bangladesh (jointly); Dr. John Hume, Ireland; Bhartiya Vidya Bhawan; Mr. Vaclav Havel, former President of Czechoslovakia and Archbishop Desmond Tutu, South Africa. It carries a plaque, citation and an amount of Rs. one crore.
The Gandhi Peace Prize was instituted by the Government of India in 1995 on the occasion of the 125th birth anniversary of Mahatma Gandhi. This annual award is given to individuals and institutions for their contributions towards social, economic and political transformation through non-violence and other Gandhian methods. Previous recipients of the award include Dr. Julius K. Nyerere, former President of Tanzania; Dr. A.T. Ariyaratne, Founder President of Sarvodaya Sharamadana Movement, Sri Lanka; Dr. Gerhard Fischer of Germany; Rama Krishna Mission; Baba Amte; Dr. Nelson Mandela and Grameen Bank of Bangladesh (jointly); Dr. John Hume, Ireland; Bhartiya Vidya Bhawan; Mr. Vaclav Havel, former President of Czechoslovakia and Archbishop Desmond Tutu, South Africa. It carries a plaque, citation and an amount of Rs. one crore.
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