Current Affairs: 12th July

  • World Population Day: 11 July
    2016 Theme: “Investing in teenage girls”. – empowering them with information related to their health, human & reproductive rights.
  • India, Kenya sign seven agreements to deepen and expand cooperation
    Defence Cooperation,

    • Space Technology
      Double Taxation Avoidance Agreement (DTAA)
    • Exemption of Visa for holders of Diplomatic passports
    • Expertise sharing, standardisation and mutual trade between Bureau of Indian Standards (BIS) and Bureau of Kenya Standards (BKS)
    • LoC Agreement for US $15 million
  • Important: What is double Taxation Avoidance Agreement (DTAA)?
    • Lets say India has signed DTAA with Japan, now Toyota, a Japanese company is doing business and makes profit of 100 Million dollars in India. So by 30% rule, pays Indian Income Tax department 30 million, and now the rest 70 million will be taken by Toyota back home as profit.
    • Now, if DTAA is not signed b/w India & Japan, in Japan this will be Toyota’s income from abroad and further taxable(lets say 10%). Hence Toyota would have to pay Japan Income tax of (10%) i.e. 7 Million.
    • Signing of DTAA, allows Toyota not to pay any additional tax and take full 70 million home legally.
    • So why India’s keeps signing DTAA: Simple reason, a company will be more willing to invest in India, if it knows that its country has DTAA with India and they won’t have to pay any double tax for income.
    • Dark Side: Company’s from around the world set up new company in easy rule of law country such as Kenya (DTAA wali) and use black/grey funds to invest in India. Further, such business also avoids extra tax.
  • President Pranab Mukherjee conferred the 51st Jnanpith Award on acclaimed Gujarati writer and litterateur Raghuveer Chaudhari .
  • Sushila Karki became the first woman Chief Justice of Nepal
  • India, Tanzania sign five agreements
    • MOU on Establishment of Vocational Training Centre at Zanzibar (Locate on Map)
    • Visa waiver agreement for Diplomatic/Official passport holders
    • Cooperation in the field of water resource management and development
    • Line of Credit (LoC) of US 92 million dollars- water supply -Zanzibar
  • Joint Action Plan (JAP) between- National Small Industries Corporation of India (NSIC) and Small Industries Development Organization Tanzania (SIDO).
  • Portugal has won the 2016 UEFA European football championship (Euro Cup 2016) by defeating host France.
    • Golden Boot (maximum goals): Antoine Griezmann (France)
    • Note: Golden boot is a prize associated with football. 
  • The National Bureau of Animal Genetic Resources (NBAGR) has conferred rare and singular species genetic recognition tag to the threatened breed of Kendrapara sheep found in Odisha.
  • Second unit of Kudankulam Nuclear Power Plant (KNPP), in Tamil Nadu became operational.
    Reactor Supply: Russia

    • Reactor: VVER (Water-Water Energetic Reactor)
    • Capacity: 2000 MW.
  • Remember:
    • Jaitpur, Maharashtra : with French cooperation
    • Mithi Virdi, Gujarat: with USA
    • Kovvada, Andhra Pradesh: with USA
    • Haripur, WB: again same reactor with Russia
  • 300 Indians stranded in Juba as civil war reignites
    Juba: Capita South Sudan

    • History:
    • Civil War in Sudan – South Sudan declares independence.
    • UN/Countries – recognize as independent country – Capital Juba
    • Now Conflict with Sudan for Abyei region & Nuba mountains.
    • December 2013, internal conflict started in South Sudan between President Kiir (Dinka Tribe) and his former deputy Riek Machar (Neur Tribe)
    • There are 2,500 Indian soldiers in the U.N. Mission in South Sudan (UNMISS)
  • Noting that “an issue like this has arisen never before”, the Supreme Court on Monday decided to hear arguments for referring to a Constitution Bench a plea challenging the restriction on women aged between 10 and 50 years to enter the famed Sabarimala temple in Kerala.
  • In 1991, the Kerala High Court banned entry of women between ages above the age of 10 and below the age of 50 from offering worship at Sabarimala Shrine during any period of the year.
  • Note:
    • Sabarimala: Location inside Periyar Tiger Reserve, Kerala
      Presiding deity, a ‘Nastik Brahmachari’.
  • Climate Change: 7,000 hectares (17,300 acres), or 9% of the mangroves in the Gulf of Carpentaria, Australia, perished in just one month. (locate gulf of Carpentaria on map)
  • Impulse 2: Solar Plane left from Spain for Egypt.
  • After Gujarat University, IIT-Bombay has placed an order for 3,500 convocation robes made of khadi cotton.

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