Current Affairs for IAS Exams - 19 December 2014

National

Housing Ministry allowing FDI without survey

• The Standing Committee on Urban Development has rapped the Union Ministry of Housing and Poverty Alleviation for allowing foreign direct investment (FDI) through the automatic route in the construction and development sector without studying its impact on the urban poor.

• In its latest report tabled in Parliament, the committee said that though the construction and development sector secured cumulative investments of Rs. 10,74,92 crore from April 2000 to February 2014, which is 11 per cent of the net FDI flow of equity, it was “dismayed” to learn that no survey was undertaken by the Ministry to assess the impact of allowing FDI in the sector.

• Pointing out that a majority of urban housing needs were in the economically weaker section and the lower income group segment, the committee said there was an “urgent need” to conduct such a survey so that the real impact of allowing FDI in the housing sector with reference to the urban poor could be assessed.

• Allowing FDI through the automatic route was a welcome step, but must be closely monitored, the panel said. “... It needs very vigorous follow-up in the sense that unless the various loopholes in the laws relating to construction and housing sectors are adequately plugged and a conducive environment for investment in this sector is promoted, this FDI proposal would remain an initiative only on paper and would not benefit the common masses,” the committee said in its report.

International

Sony hacking a ‘serious security issue’ says U.S.

• The United States said that it is treating the Sony cyber-security breach as a “serious national security matter” and is considering appropriate response to this intrusion into the network of the major American movie studio.

• Senior members of Obama’s national security team are meeting at the White House to overview the investigation and consider appropriate response, the White House Press Secretary, Josh Earnest, said.

• “Consistent with the (US) President’s previous statements about how we will protect against, monitor and respond to cyber incidents, this is something that’s being treated as a serious national security matter,” he said.

• “There is evidence to indicate that we have seen destructive activity with malicious intent that was initiated by a sophisticated actor,” said Earnest.

• On November 24, emails between employees of Sony Pictures Entertainment, information about executive salaries at the company, copies of unreleased Sony films, and other information were obtained and released by hackers.

India conveys ‘strong concerns’ to Pakistan on Lakhvi bail

• India has conveyed to Pakistan its “strong concern” on grant of bail to key Mumbai attack handler Zakiur Rehman Lakhvi, saying the release will make a mockery of Pakistan’s commitment to fight terror groups without hesitation and without making distinctions.

• “Despite repeated assurances that have been received, we have seen both the prosecution of the seven accused in the Anti-Terror Court in Islamabad, as also the investigation by the authorities into the larger conspiracy surrounding the Mumbai attack case, proceeding at a glacial pace.

• “The story of repeated postponements, adjournments and unavailability of concerned law officers or witnesses is well documented and does not require repetition.

• The move to grant bail to Zakiur Rahman Lakhvi has taken this saga to another level,” official spokesman in the External Affairs Ministry Syed Akbaruddin said.

• “We have, therefore, forthwith communicated to Pakistan through diplomatic channels our strong concerns on this matter and the sentiments across the spectrum of Indian society that that this will make a mockery of Pakistan’s commitment to fight terror groups without hesitation and without making distinctions,” the spokesman said.

• Lakhvi is among the seven Pakistani nationals accused of planning and abetting the brazen terror attack in Mumbai on November 26, 2008 that left 166 dead, including foreigners.

Palestinians will submit draft for UN vote

• An Arab—backed draft resolution on ending Israel’s occupation of lands captured in 1967 is to be submitted to the U.N. Security Council for a vote, the Palestinian foreign minister said.

• The current draft, sponsored by Jordan on behalf of the Palestinians, sets November 2016 as a deadline for an Israeli withdrawal from war—won lands the Palestinians seek for a state.

• The U.S. is likely to veto such a resolution. Israel fiercely opposes any suggestions that the Security Council set a framework for Israeli—Palestinian negotiations, which broke down again in the spring after the two sides couldn’t agree on the ground rules.

• U.S. Secretary of State John Kerry said after a three—day Europe trip devoted to Mideast diplomacy that it is important to avoid anything that interferes or “might be perceived as interfering” with Israeli elections planned for March.

• The priorities should be halting growing Israeli—Palestinian violence and creating conditions for an eventual resumption of negotiations.

• In the West Bank, Malki told the Voice of Palestine radio that after Jordan submits the Arab—backed draft, there could be more negotiations on the wording.

• Asked when the vote would be held, he said- “We were informed that France has agreed with the United States, the United Kingdom and Jordan to continue talks about the draft resolution in order to obtain the biggest possible number of votes and to avoid a (US) veto.”

• The Palestinian push at the Security Council is largely symbolic. Palestinian President Mahmoud Abbas is under domestic pressure to take steps toward statehood after U.S.—led negotiations with Israel hit a dead end.

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Business & Economy

New age technologies can add to India’s GDP: MGI

• McKinsey Global Institute (MGI) has identified 12 new age technologies that could have a bigger impact on India’s economic growth and efforts to reduce poverty.

• According to the firm, the new technologies (ranging from mobile Internet to cloud computing to advanced genomics) can add $550 billion to $1 trillion a year of economic value by 2025.

• In a report titled India’s technology opportunity: transforming work, empowering people, MGI said these technologies could account for 20-30 per cent of India’s GDP growth between 2012 and 2025, and help millions achieve a better quality of life.

• “For all India’s prowess in IT, large parts of its economy have yet to benefit from new technologies. That could be about to change,” McKinsey said in a statement.

• MGI evaluated over 100 technologies that are growing fast across the world, and has highlighted 12 of them that are likely to have the most impact on addressing India’s challenges.

• “The combined economic impact of the 12 technologies in 2025 could be up to six times the current economic value of the Indian IT industry.

• They can contribute as high a share of the national economy as the entire manufacturing sector does today,” Anu Madgavkar, senior fellow at the McKinsey Global Institute based in Mumbai, said in a statement.

Sundaram Mutual Fund aims to double asset size in 3 years

• Announcing the launch of two new schemes, Sundaram Mutual Fund spelt out its plans to grow its AUM (asset under management) size, ramp up of branches and leveraging the network of the Sundaram Finance group.

• “We have been recording rapid growth. Our present AUM is about Rs.22,000 crore. We hope we can achieve this year’s target of Rs.25,000 crore. We also hope that we are on track to grow the AUM size to about Rs.40,000 crore in the next three years,” said Sundaram Asset Management Company Managing Director Harsha Viji.

• It will increase the number of branches to 100 soon, while the company has already started leveraging the 600-odd branch network of Sundaram Finance and its group firms.

• Earlier, elaborating on two new schemes, Sunil Subramaniam, Deputy CEO, Sundaram Mutul Fund, said Sundaram Top 100 (Series IV) would be a three-year closed-end equity scheme, while Sundaram Long Term Tax Advantage Fund (Series-1) is a 10-year closed end ELSS (Equity Linked Savings Scheme).

• The former scheme is a large and mid-cap fund, while the latter is a multi-cap fund. Both funds will open on December end. However, Sundaram Top 100 fund will close on January 16, 2015, while Sundaram Long Term Tax Advantage scheme will close on March 20, 2015.

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Sports

FIFA disciplinary panel dismissed World Cup whistleblowers' complaints

• The FIFA disciplinary panel has dismissed complaints by two whistleblowers who were interviewed during the 2018-2022 World Cup bid investigation.

• FIFA said panel chairman Claudio Sulser ruled that the whistleblowers’ “breach of confidentiality claim had no substance.”

• The FIFA statement did not identify Phaedra Almajid, a former Qatar bid staffer, and Bonita Mersiades, who worked for the Australia campaign.

• Both worked in communications for their countries’ 2022 bids and left before the December 2010 vote.

• Mr. Sulser ruled that both women “had gone public with their own media activities long before” FIFA ethics judge Joachim Eckert’s investigation summary was published last month. Mr. Eckert’s report also did not name them.

• FIFA said ethics prosecutor Michael Garcia advised Mr. Sulser that the complaints “were without merit.”

Saina & Srikanth keep winning at WSS Finals

• India’s top badminton players Saina Nehwal and Kidambi Srikanth took a big step on way to reaching the semifinals at the World Super Series Finals by securing their second straight wins in their respective groups.
• Srikanth, who has reached a career-high world No. 6 in the rankings, celebrated his rise by beating eighth-ranked Tommy Sugiarto of Indonesia 21-18, 21-13 at the Hamdan Sports Complex.
• It was Srikanth’s first win over the Indonesian. World No. 4 Saina extended her domination over South Korea’s Sung Ji Hyun with an emphatic 21-12, 21-18 victory.
• It was Saina’s fifth win against Sung in six career meetings though the Indian had lost the last time they played each other (2013 Denmark Open).
• Srikanth was convincing against Sugiarto, wrapping up the match in 38 minutes. The Indian, who had beaten Kento Momota of Japan 15-21, 21-16, 21-10 in his first match, plays his final Group B match against Jan O Jorgensen.

Olympic wrestling champion suspended for 1 year

• Former Olympic wrestling champion Steeve Guenot was suspended for one year by the French anti-doping agency for missing doping tests.

• The French wrestling federation said Guenot, who won gold in the 66-kilogram category at the 2008 Beijing Olympics and bronze in London four year later, failed to give details about his whereabouts and was twice absent from his house for out-of-competition tests between February and July this year.

• The French federation said he never tested positive despite being regularly targeted since he won Olympic gold six years ago.

• “He is paying the high price for a mistake he made when giving details of his whereabouts on the information platform and missing two out-of-competition tests scheduled between six and seven in the morning,” the French federation said.

• Guenot, who has been suspended until July 30, 2015, will not appeal the decision, meaning that he won’t be able to compete at the European Games in Baku next June.

• The 29-year-old Guenot is currently sidelined following surgery on his right hip and hopes to return at the world championships in Las Vegas in September and then to qualify for the 2016 Olympics in Rio de Janeiro.

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Science & Technology

Internet addiction affects 6% of world population: study

• A study has revealed that 6 per cent of people are suffering from internet addiction worldwide, hampering their health and interpersonal relationships.

• Researchers from University of Hong Kong presented 164 internet addiction prevalence figures, with an overall global prevalence estimate of 6 per cent.

• Data was taken from more than 89,000 individuals in 31 countries. Prevalence ranged from a low of 2.6 per cent in Northern and Western Europe to a high of 10.9 per cent in the Middle East.

• The authors described factors associated with higher Internet addiction prevalence and how it relates to individuals’ quality of life.

• “These findings provide initial support for the inverse relationship between quality of life and internet addiction.

• It, however, finds no support for the hypothesis that high Internet accessibility (such as the high penetration rates in northern and western Europe), promote such addiction,” said Brenda K. Wiederhold, from Interactive Media Institute, San Diego, California and Virtual Reality Medical Institute, Brussels, Belgium.

• Internet addiction is an impulse-control problem marked by an inability to inhibit internet use which can adversely affect a person’s life.

Global Carbon emissions at all-time high in 2013

• Global carbon-dioxide emissions from burning of fossil fuels and production of cement reached a high of 35.3 billion tonnes in 2013, mainly due to the continuing steady increase in energy use in emerging economies such as India, a new report says.

• Brazil (6.2 per cent), India (4.4 per cent), China (4.2 per cent) and Indonesia (2.3 per cent) reported a sharp rise in emissions of the greenhouse gas that year. The global emissions, however, increased at a notably slower rate of 2 per cent than the average yearly 3.8 per cent since 2003.

• The slowdown, which began in 2012, signals a further decoupling of global emissions and economic growth, mainly reflecting the lower emissions growth rate of China, says the annual “Trends in global CO{-2}emissions” released by the Netherlands Environmental Assessment Agency and the European Commission’s Joint Research Centre.

• China, the United States and the European Union remain the top three emitters of carbon dioxide, accounting for 29 per cent, 15 per cent and 11 per cent, respectively, of the world’s total.

• After years of a steady decline, the emissions of the gas by the U.S. grew by 2.5 per cent in 2013, mainly due to a shift in power production from gas back to coal and an increase in gas consumption for space heating, the report says.

Study found Increase in life expectancy more in women

• A Global Burden of Disease Study 2013 published on December 18 in the journal The Lancet points out that in the case of India, the life expectancy at birth during the period 1990 to 2013 had increased for both men and women.

• In the case of men, the increase in life expectancy was from 57.3 to 64.2 years and in the case of women, it was from 58.2 to 68.5 years between 1990 and 2013. The reduction in death rate was seen both in adults and children.

• Though the death rate per year witnessed a drop both in adults and children, it was more in the case of children than adults. At 3.7 per cent, the death rate reduction per year in children was much more than that of adults, which was at 1.3 per cent.

• According to the report, ischemic heart disease was the number one cause of death in India in 2013. The other leading causes (in descending order) were lower respiratory track infections, tuberculosis, neonatal encephalitis, preterm birth complications, diarrhoea, stroke, chronic obstructive pulmonary disease (COPD), suicide, and finally road injuries.

• “COPD is caused due to lung damage. Smoking is one of the causes of COPD. But in the case of women in India, COPD is more due to indoor pollution than smoking. Even TB could be an important cause,” Dr. Soumya Swaminathan, Director of the Chennai-based National Institute for Research in Tuberculosis (NIRT) told this Correspondent.

• While TB is the number three cause, diarrhoea is way down at the sixth position. Referring to this, Dr. Swaminathan said: “That shows that interventions for diarrhoea have really worked and reduced the number of deaths, while in the case of TB the interventions have been less effective in reducing deaths.

• This is despite RNTCP being effective and bringing about 20 per cent reduction in TB deaths in India.”Across the world, deaths from diarrhoeal diseases between 2000 and 2013 fell by about 31 per cent.

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Sources: Various News Papers & PIB

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