Russia plans to build bases in Syria to fight ISIS
- Russia is building a military base in Syria in the heartland of President Basher al Assad controlled territory to fight against the Islamic State of Iraq and the Levant (ISIL)
- Russia has already set up Air Traffic Control towers and has transported pre fabricated housing units for 1000 troops.
- Until now Russia ‘s help has been restricted to financial , military supplies and training of Syrian soldiers.
- With NATO trying to depose of President Basher al Assad , the Russian involvement has changed the equation and surrounding NATO allies Iraq and Saudi have voiced concerns regarding Russian intrusion in what they view as a Syrian internal problem.
- Russia currently maintains a naval base in the Syrian city of Tartus.
- They have also asked neighbouring countries to allow Russian combat aircraft into their airspace.
Chinese Economy crash impacts Indian diamond industry.
- More than 5000 Surat polishers have lost their jobs as Chinese consumers pull back from luxury purchases , leaving jewellers with stocks of unsold diamonds and jewellery.
- While China accounts only for a fifth of the world diamond market but its growth has fuelled the diamond industry in recent years as companies expanded at break neck pace to cater for luxury hungry consumers.
- Between 2008 and 2013 , Chinese Diamond purchases grew by over 18% but has now reduced to single digit figures.
- India’s diamond industry accounts for over 70-75% of the diamond exports in the world and employs over 1 million people.Surat , Ahmedabad are the major cities involved in the diamond trade.
Australia puts tough norms for Uranium sale to India.
- A multi party committee recommended that Australia should not sell Uranium to India unless it sets up an independent nuclear regulator and separate its civilian and military installations.
- Overall the report recommended the sale of Uranium to India despite not being a member of the Non Proliferation Treaty or the Comprehensive Test Ban Treaty.(CTBT)
- The report states that Australia must encourage India to ratify the CTBT.
- India ‘s views on NPT and CTBT are that , they are a flawed agreement that gives one party rights to nuclear weapons and denies another and has proposed for a treaty that includes all countries .
- Indian import of Australian Uranium is expected to increase the size of Australian Uranium industry to double its present size.
PM Modi tells India Inc. to invest more
- Prime Minister Modi encouraged Indian industry leaders to take more risks and step up investments in the domestic market.
- The meeting chaired by the PM was attended by industry leaders , central bankers , economic advisers and analysts.
- The business heads , requested the PM to remove red tape with regards to starting up a business which could fuel a lot of development.
Centre bans import of Ammonium Nitrate in loose form.
- The Ministry of Home Affairs has asked the Department of Industrial policy and promotion , not to allow import of Ammonium Nitrate which is a highly explosive substance in loose form.
- The MHA has directed that Ammonium Nitrate can be imported only in bagged form irrespective of the quantity.
- This comes as a relief as domestic manufacturers had made investments in bar coding of Ammonium Nitrate bags , IT infrastructure and tracking devices as till now imported Ammonium Nitrate was allowed in loose form without any guidelines thus making it cheaper
- Currently around 15 % of Ammonium Nitrate in India is imported. This ratio has come down from 60 % in 2010.
GK Questions of the day
1) It is one of the most strategic straits in the world . Along with Dardenelles and the sea of Marmara , It links the Black sea with the Mediterranean. The City of Constantinople was founded on this strait.Which Strait is this??
2. Which of the following is not a reason for inflation??
a)Availability of goods in the market
b) Excessive printing of currency
c) Decrease in government subsidy schemes
d) rise in bank rates as set by SEBI
Answer: Bank rates are not set by SEBI. Reserve Bank of India(RBI) sets different rates which impact the Bank rates.
3) Consider the following statements and answer the following
Statement 1 : The Right to Education Act enacted by the govt ensures free education to children of 6-14 years .
Statement 2 : The Act makes it a criminal offence on the part of the parents if they don’t send their wards to schools.
Which of the following is true?
c)both 1 & 2
Answer: Only Statement 1 is true.
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