43rd G7 Summit held in Sicily, Italy
43rd G7 summit was held on May 26–27, 2017 in Taormina, Sicily, Italy. The summit was attended by leaders of G7 countries viz. US, UK, Germany, France, Italy, Japan and Canada as well as the representatives of European Union.
i. G7 presidency rotates annually between member countries. Presidency for the year 2017 is held by Italy. The theme of the Italian G7 presidency in 2017 is “Building the foundations of renewed trust.”
ii. G7 communique released on May 27, 2017 at the conclusion of the summit stated that “all member countries – except the US – had reaffirmed their “strong commitment” to abide by the 2015 Paris climate agreement to rein in greenhouse gas emissions.”
India’s Tax Laws, 2nd Most Complex in Asia-Pacific – Deloitte Survey
As per the Asia Pacific Tax Complexity Survey conducted by professional services firm, Deloitte, India has the second most complex taxation system in the Asia-Pacific Region. This outcome is based on a survey of over 300 financial and tax executives in 20 countries across Asia Pacific. 147 of these respondents have business operations in India. The respondents were asked to give their views on the current and anticipated tax environment for their respective countries.
Top 5 Asia-Pacific Countries in terms of Tax Complexity:
BANKING & FINANCE
India to grow at 7.2% in 2017-18 – World Bank
As per “India Development Report” by World Bank, Indian economy is expected to grow at 7.2% in FY 2017-18 as compared to 6.8% in 2016-17.
i. The report has outlined that demonetisation in November 2016 caused a slight disruption to India’s growth recovery.
ii. It is to be noted that in the latest World Economic Outlook (WEO), International Monetary Fund (IMF) has cut down India’s growth forecast for year 2017 by 0.4 percentage points to 7.2 %.
EPFO gives nod to hike in stock investment to 15 per cent
The Employees Provident Fund Organisation has announced a hike in investment limit in Exchange Traded Funds (ETFs) from 10% to 15 per cent.
i. The decision was taken during the meeting of the Central Board of Trustees (CBT) on 29thof May.
ii. Union Labour Minister is Bandaru Dattatreya.
♦ Employees‘ Provident Fund Organisation (abbreviated to EPFO), is an Organization tasked to assist the Central Board of Trustees, a statutory body formed by the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 and is under the administrative control of the Ministry of Labour and Employment, Government of India.
Prasar Bharati signs MoU with Morocco’s SNRT
Prasar Bharati has signed an agreement with Moroccos Societe Nationale de Radio diffusionet de Television (SNRT).
i. The MoU has been signed to step up cooperation in the broadcasting sector.
ii. Minister Nirmala Sitharaman Commerce and Industry had gone to attend the meeting.
iii. The MoU was signed during the the fifth India Morocco Joint Commission Meeting (JCM) in Rabat.
iv. The MoU was signed by Kheya Bhattacharya, Ambassador of India, on behalf of Prasar Bharati and Faycal Laraichi, Chief Executive Officer of SNRT.
v. The bilateral trade between the countries stood at USD 1.42 billion in 2015-16. About Morocco:
♦ capital: Rabat
♦ Currency: Moroccan dirham
♦ Prime Minister: Saadeddine Othmani
AWARDS & RECOGNITIONS
Satyabrata Rout gets Sangeet Natak Akademi Puraskar
Sangeet Natak Akademi Puraskar for the year 2016 has been awarded to Satyabrata Rout. Satyabrata Rout has been given this award for developing a unique method of teaching and practising direction and design, which has been achieved through a long and continuous work experience with eminent theatre practitioners and scholars.
i. Stayabrata Rout is a professor from the Department of Theatre Arts, S N School of Arts and Communication. He is a noted theatre director and scenographer.
ii. He is one of the pioneers of visual theatre in India, and has authored ‘Scenography: An Indian Perspective’.
‘The Square’ wins top award at Cannes Film Festival 2017
The Ruben Ostlund-directed satire ‘The Square’ has won the top prize at the 70thCannes Film Festival 2017.
i. The movie is directed by the Ruben Ostlund.
ii. Sofia Coppola became the second woman in the festival’s history to win best director at this auteurist temple.
iii. The ceremony took place at Lumiere Theater.
iv. The drama movie tells the story of an injured soldier who is taken in by a girls’ boarding school during the civil war in America.
SCIENCE & TECHNOLOGY
INS Ganga placed in non-operational category
Indian Navy frigate INS Ganga is placed in non-operational category from 28th May 2017, followed by decommissioning, after 32 years of service.
i. INS Ganga is a Godavari-class guided-missile frigate of the Indian Navy and was built in Mumbai by Mazagon Dock Limited.INS Ganga was commissioned on December 30, 1985.
ii. Presently in her 24th Commission, is commanded by Captain NP Pradeep.
Health Indian researchers develop 3D bioprinted cartilage
Sourabh Ghosh from the Department of Textile Technology at the Indian Institute of Technology (IIT) Delhi has been successful in 3D bioprinting of cartilage using a bioink.
i. It is the first time that permanent cartilage similar to natural ones has been developed.
ii. In other words, cartilages developed are molecularly similar to the ones seen in human knees.
iii. The bioink has high concentration of bone-marrow derived cartilage stem cells, silk proteins and a few factors.
iv. The team was able to achieve this by combining the tissue engineering and 3D bioprinting expertise at IIT Delhi with developmental biology expertise at IIT Kanpur.
v. The chemical composition of the bioink supports cell growth and long-term survival of the cells. The cartilage developed in the lab has remained physically stable for up to six weeks.
vi. The results of the study were published in the journal Bioprinting.
About Transient cartilage
The cartilage found in the knee is an articular cartilage that is typically sponge-like and has a huge load-bearing capacity.
Prakash Javadekar launches UGC App to fight Ragging
HRD minister Prakash Javadekar has launched an anti-ragging mobile app UGC app introduced by the University Grants Commission on 29th of May 2017.
i. The app will help student register complaints to counter the menace of ragging.
ii. The app is available on Android platform.
Cyclone ‘Mora’ spins up over Bay, eyes Bangla coast for landfall
A deep depression in the Bay of Bengal has been declared intensified into a tropical cyclone named Mora.
i. It is a second cyclone in the Bay of Bengal after Maarutha.
ii. The tropical Cyclone Mora is likely to hit Bangladesh coast in next 24 hours and expected to cause heavy rains in West Bengal and North East Indian states.
iii. Maarutha which was formed in April, 2017 triggering heavy rainfall in Sri Lanka, Myanmar and India’s Andaman & Nicobar Islands.
iv. It helped in bringing the Monsoon earlier by a week over Andaman & Nicobar Islands.
v. Cyclone Mora is second such cyclone in the Indian Ocean.
vi. Naming of Tropical Cyclone Tropical cyclones are classified into three main groups.
vii. It is based on intensity: tropical depressions, tropical storms, and a third group of more intense storms, whose name depends on the region
Sebastian Vettel wins Monaco Grand Prix
Ferrari’s Sebastian Vettel had won Monaco Grand Prix on 28 May 2017.
i. It was held at Circuit de Monaco, La Condamine and Monte Carlo, Monaco.
ii. The second place in the race was secured by Ferrari’s Kimi Raikkonen.iii. The third place was secured by Red Bull’s Daniel Ricciardo.
Fencer Bhavani Devi becomes first Indian to win gold in International Event
India’s Chadalavada Anandha Sundhararaman Bhavani Devi has become first Indian to win a Gold Medal in an International fencing tournament.
i. She participated in the sabre event of the Turnoi Satellite Fencing Championship held at Reykjavik in Iceland.
ii. In the final, she defeated Sarah Jane Hampson of Great Britain.
Arsenal beat Chelsea 2-1 to win FA Cup for 13th time
Arsenal won its 13th FA Cup with a 2-1 victory over Chelsea the Premier League champion on 27 May 2017.
i. The match was held at Wembley Stadium in London, England.
ii. Arsenal maintained its 1-0 lead well into the second half.
iii. Chelsea were reduced to ten men in the second half after its mid-fielder Victor Moses, made a second foul and was sent off in the 68th minute.
iv. Chelsea made its come back with striker Diego Costa’s equalizer in the 76th minute.
v. Arsenal picked up its lead just three minutes later when its forward Olivier Giroud.
BOOKS & AUTHORS
President Pranab Mukherjee recieves first copies of the books “Colour Atlas of Oral Implantology” and “Conservative Dentistry – basics”
President has received two copies of the book Colour Atlas of Oral Implantology” and “Conservative Dentistry – basics.
i. The Colour Atlas authored by Dr. Prafulbali & Lanka Mahesh.
ii. In this book it has been majorly focus on agniveer procedures performed by the author in the field of dental in planetology.
iii. Dental implant: it is a surgical component that interferes with the boht is the jaw or skull to support a dental prosthesis such as done, bridge facial prothesis to act as orthodontic anchor.
iv. Conservative dentistry- Basic focuses on the basics fundamental of the subject, clinical picture and labeled diagram for better understanding of students.
v. It is authored by Dr. RK bali & Dr. Mazoomdar.
vi. These two books will help the readers to understand the oral disease and tooth decay problems with deep understanding.
vii. As in India Approx 70-75% of children are affected by the dental disease and 90% of the population with gum disease.
New book celebrates the Reang of Tripura
A unique and detailed publication by Lincoln Reang, named ‘Mapping with respect to Particularly Vulnerable Tribal Groups in Tripura’, is being published by the Tribal Research and Cultural Institute.
i. It has been celebrated to document and preserve the cultural and social diversity of the Reang.
ii. Reang (also known as Riang) is among the 19 tribes of Tripura and is the only one to be classified as a ‘Particularly Vulnerable Tribal Group (PVTG)’ in the State.
iii. The Reang dialect is of Tibetan-Burmese origin and is locally referred to as KauBru.
iv. Though there is no script for the language, some publications follow the Bengali or Roman script to keep the language alive.
International Day of United Nations Peacekeepers – May 29 2017
The International Day of United Nations Peacekeepers has been observed on 29 May.The day was established to honour the memory of the UN peacekeepers who have lost their lives in the cause of peace.
i. The theme for the 2017 International Day of UN Peacekeepers is “Investing in Peace around the World.
ii. India’s Permanent Representative to the UN Ambassador Syed Akbaruddin received the medal on behalf of the fallen Indian peacekeepers at the solemn ceremony.