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Current Affairs for IAS Exams - 30 April 2014

Claim on stolen idol

The National Gallery of Australia has surrendered to the Indian claim that a Chola-era Nataraja that it acquired for (A) $5.6 million had indeed been stolen from a village temple in Tamil Nadu, paving the way for an early return of the idol to India.
The NGA, Australia’s foremost art institution located in the national capital of Canberra, had 30 days to claim its ownership of the imposing bronze Nataraja after receiving a notice from the Australian Attorney General’s Department under the Protection of Movable Cultural Heritage Act 1986. That deadline expired on April 26.
The 1,000-year-old Dancing Shiva is central to the investigations against antiquities dealer Subhash Kapoor who was arrested in 2012 and is being tried in Tamil Nadu for conspiring to smuggle the idol and several others out of India. The return of the idol is expected to strengthen the case against him.
The NGA initially defended its purchase of the idol from Kapoor, but with its reputation scorched by the international controversy that erupted over the provenance of the Nataraja, the Gallery seems to have decided not to pursue any claim over the idol. Similarly, Sydney’s Art Gallery of New South Wales has not contested the notice it received at the same time as the NGA on an Ardhanareeshwara it bought from Kapoor, who was operating principally out of the United States.
This idol too is a subject of Tamil Nadu police investigations against the dealer, and the Indian government had demanded its return along with the Nataraja.
The Idol Wing unravelled the role of an international network in the theft of 18 ancient bronze sculptures from two temples in Suthamali and Sripuranthan.

Anti-Qaeda offensive

Yemeni forces have launched an operation to drive Al-Qaeda fighters out of southern towns, where blistering air strikes killed nearly 60 militants recently. military officials.
Al-Qaeda in the Arabian Peninsula jihadists established strongholds in towns and rugged zones in Abyan and Shabwa provinces after security forces chased them from major cities in Abyan in 2012.
Yemeni and US drone strikes targeted bases of AQAP, considered by Washington as the most dangerous affiliate of the global jihadist network with links to several failed terror plots against the United States.
AQAP took advantage of the weakening of the central government in Sanaa after the nationwide uprising, establishing strongholds in the southern and eastern regions.
In June 2012, government forces backed by the Popular Committees drove militants out of major cities in Abyan after they had been in control for around a year.
US drones frequently strike suspected militants in the country despite mounting criticism from rights groups concerned about civilian casualties.
The United States has defended its use of drones against Al-Qaeda, saying they allow it to target jihadists without sending soldiers into lawless areas where local authorities have little or no control.

Black money case

After resisting for more than three years, the Centre has revealed names of 18 persons in the Supreme Court who allegedly stashed black money with LST bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.
The names, listed in Centre's affidavit, include Mohan Manoj Dhupelia, Ambrish Manoj Dhupelia, Bhavya Manoj Dhupelia, Manoj Dhupelia and Rupal Dhupelia from Ambrunova Trust and Marline Management.
Centre said that IT department also found evidence against against four members of Manichi Trust — Hasmuk Ishwarlal Gandhi, Chintan Hasmukh Gandhi, Madhu Hasmukh Gandhi and Late Mirav Hasmukh Gandhi. It said that prosecution has been initiated against Chandrakant Ishwarlal Gandhi, Rajest Chandrakant Gandhi, Viraj Chandrakant Gandhi and Dhanalaxmi Chandrakant Gandhi from Ruvisha Trust.
Notwithstanding the Supreme Court order in 2011 to make public the names of account holders in LGT bank received by it in 2009 from German tax authorities, Centre has not done so, drawing the ire of the apex court.

Export of Gems & jewellery

India's gems and jewellery exports dropped 11% in the last fiscal from a year before to $34.74 billion, mainly because outbound shipments of gold jewellery and medallions tumbled due to curbs on raw material supplies.
Importantly, the annual exports of gems and jewellery dropped at an even faster pace in March, by 28.1% to $4.37 billion, the data revealed. Gold jewellery and medallion exports crashed 39.5% in the last fiscal to $11,045.92 million from a year earlier.
Jewellers and industry executives said high premiums, 10% customs duty and restrictions on gold supplies have raised raw material costs for domestic jewellers, driving down exports. While a 40% plunge in gold and silver imports helped reduce the CAD last fiscal, a drop in gems and jewellery exports can be counter-productive, especially for the jewellery manufacturing sector.
To control the CAD, the government raised the import duty on the precious metal three times last year to 10% from 4% and the RBI mandated that at least one-fifth of the imported gold be kept aside for re-exports. The RBI also directed that no fresh tranche of imports by a trader would be allowed until 20% of the previous imported volume is exported after value addition, also aimed at promoting exports.

Orbit of the International Space Station (ISS)

The orbit of the International Space Station (ISS) will be corrected by raising it by 2.15 kilometres.
The maneouver were carried out using the thrusters of the Progress M-21M cargo spacecraft.
The station was raised to the altitude of 415.2 kilometres and the adjustment is made to ensure better docking conditions of the Soyuz TMA-13M spacecraft, which is scheduled to blast off from the Baikonur space centre in Kazakhstan on May 28 to bring a new crew to the ISS.
The Progress M-21M docked with the orbital station on November 30. The docking operation was being carried out by means of the new approach system in an automatic mode.

Real Madrid reach their first Champions League final

Real Madrid reached their first Champions League final for 12 years with an historic 4-0 win at Bayern Munich in semifinal, second leg to knock the holders out.
Having won last week's first leg 1-0 in Madrid, Real won the semifinal 5-0 on aggregate as Pep Guardiola's Bayern suffered their heaviest home defeat in European competition.
Bayern had previously never lost at home by more than two goals in Europe as the Bavarian giants saw their dreams of reaching a fourth Champions League final in five years crushed.