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Friday, 16 September 2011

CURRENT AFFAIRS WEEK: 05 Sep 2011 to 11 Sep 2011

CURRENT AFFAIRS WEEK: 05 Sep 2011 to 11 Sep 2011

1.ESPN-Star Sports Announced Shah Rukh Khan as the Face of the Nokia Champions League Twenty20
Sports Current Affairs 2011. ESPN-STAR Sports, the official broadcaster and commercial partner of Nokia Champions League (NCL) Twenty20, announced Shah Rukh Khan as the face of the tournament
2.The Indian Navy undertook a Passage Exercise with the Turkish Navy
The Indian Navy undertook a Passage Exercise (PASSEX) with the Turkish Navy on 10th and 11th July 2011 during the routine visit of Turkish Navy ship to Mumbai. The scope of this exercise included over the horizon targeting exercise, visual signaling exercise, manoeuvres by officers of the watch etc. The exercise was part of routine schedule of the participating naval units and no additional expenditure was incurred specifically for the exercise with Turkish navy.
3.India Signed Double Taxation Avoidance Agreement with Uruguay
The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Oriental Republic of Uruguay for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital on 8th September, 2011. The Agreement was signed in New Delhi by MC Joshi, Chairman, Central Board of Direct Taxes on behalf of the Government of India and by Cesar Ferrer, Ambassador of Uruguay to India, on behalf of the Oriental Republic of Uruguay.
The DTAA provides that business profits will be taxable in the source state if the activities of an enterprise constitute a permanent establishment in that state. Such permanent establishment includes a branch, factory, etc. Profits of a construction, assembly or installation projects will be taxed in the state of source if the project continues in that state for more than six months.
Profits derived by an enterprise from the operation of ships or aircraft in international traffic shall be taxable in the country of residence of the enterprise. Dividends, interest and royalty income will be taxed both in the country of residence and in the country of source. However, the maximum rate of tax to be charged in the country of source will not exceed 5% in the case of dividends and 10% in the case of interest and royalties. Capital gains from the sale of shares will be taxable in the country of source and tax credit will be given in the country of residence.
The Agreement further incorporates provisions for effective exchange of information including banking information and assistance in collection of taxes between tax authorities of the two countries in line with internationally accepted standards including anti-abuse provisions to ensure that the benefits of the Agreement are availed of by the genuine residents of the two countries.
The Agreement will provide tax stability to the residents of India and Uruguay and facilitate mutual economic cooperation as well as stimulate the flow of investment, technology and services between India and Uruguay. 4.Haryana Government Introduced a Policy to Provide Security to Whistleblowers
The Haryana government introduced a policy on 6 September 2011to provide security to whistleblowers and RTI activists in the state. The notification issued by the government stated that a whistleblower or a RTI activist could submit an application to superintendent of police or local police commissioner, in case there is any threat to his (whistleblower) life. An enquiry will be conducted, and the officer would ask for a threat analysis report from officers concerned and CID. If it is found that the applicant is facing genuine threat, he will be given security cover immediately.
Haryana will also set up a special cell for processing the requests for security and for supervising the investigation of the cases registered against whistleblowers or RTI activists due to malice and without any reasonable cause 5.The Total Volume of Arctic Sea Ice Fell to a Record Low in 2010
The total volume of Arctic sea ice fell to a record low in 2010, according to a new study. Scientists at the Polar Science Center of the University of Washington estimated that last year broke the previous 2007 record for the minimum volume of ice, which is calculated from a combination of sea ice area and thickness.
Axel Schweiger of University of Washington, led the study. According to the scientists, ice volume is now plunging faster than it did at the same time last year when the record was set. The Arctic sea ice area fell below 4.6 million sq km recently, compared with the record low of 4.13 million sq km in 2007, whereas the minimum ice extent in the early 1970s was 7 million square km. 6.United Nations' (UN) International Literacy Day obseved anually on 8 September 7.Manmohan Singh Visited Bangladesh to Sign the Historic Protocol on Land Boundary Agreement 8.American Stand-up Comedian Eddie Murphy chosen to host the 84th Oscars in February 2012 9.Herbal Product for Cure of Leucoderma, Lukoskin developed by DRDO launched 10.Eminent sculptor , Ganapati Sthapati who sculpted the famous Tiruvalluvar statue died 11.Brazilian Scientists Located an Underground River below the Amazon River 12.Madhya Pradesh became the First State in the Country to Offer Air Taxi Services
Madhya Pradesh has become the first state in the country to offer air taxi services. In Madhya Pradesh, Chief Minister Shivraj Singh Chouhan inaugurated the air taxi service at Bhopal's Raja Bhoj Airport on 7 September 2011. The first flight of this service took off from Bhopal to Gwalior.
In the first phase, this air service will be between Bhopal-Indore, Bhopal-Gwalior, Bhopal-Jabalpur, Indore-Gwalior and Indore-Jabalpur. Air taxis will fly between these cities in the morning and evening.
In the second phase, there will be daily flights between Gwalior-Jabalpur through which some more tourist destinations will be linked. These include Satna, Khajuraho, Pachmarhi, Vallabhgarh and Kanha. 13.UNCTAD projected an Economic Growth of 8.1 per cent for India in 2011 14.NASA Researchers: DNA Building Blocks Can Be Made in Space 15.India and Bangladesh Signed a Historic Protocol on Land Boundary Agreement
India and Bangladesh on 6 September 2011 signed a historic protocol on land boundary agreement following the talks between Prime Minister Mahmohan Singh and Bangladesh Prime Minister Sheikh Hasina in Dhaka. During the visit of Manmohan Singh to Bangladesh, India and Bangladesh signed the following agreements:
(i)Framework Agreement on Cooperation for Development (ii) Protocol to the Agreement concerning the demarcation of the Land Boundary between India and Bangladesh and related matters (iii) Addendum to the MOU between India and Bangladesh to facilitate Overland Transit Traffic between Bangladesh and Nepal (iv) Memorandum of Understanding for Cooperation in Renewable Energy (v) Memorandum of Understanding on Conservation of the Sunderban (vi) Protocol on Conservation of the Royal Bengal Tiger of the Sunderban (vii) Memorandum of Understanding on Cooperation in Fisheries (viii) Memorandum of Understanding on Cooperation between Doordarshan and Bangladesh Television (ix) Memorandum of Understanding on Cooperation between Jawaharlal Nehru University and Dhaka University (x) Agreement of Cooperation between National Institute of Fashion Design (NIFT), India and BGMEA Institute of Fashion Technology (BIFT), Bangladesh
India and Bangladesh also agreed to remove all barriers and improve infrastructure like road, port and rail links for enhancing bilateral trade. This was agreed after a two-day successful visit by Prime Minister Manmohan Singh. During his visit, Manmohan Singh announced to remove 46 textiles lines, of interest to Bangladesh, from India's negative list for the least developed countries under the South Asia Free Trade Area Agreement (SAFTA). Import duties on these items from Bangladesh will be eliminated with immediate effect.
Indira Gandhi and Sheikh Mujibur Rahman, President of Bangladesh, agreed in 1974 to demarcate the border between the two countries. Later, the two governments arrived at shared maps of 4,096 km — but disputed enclaves left 6.5 km unresolved. Bangladesh Prime Minister Sheikh Hasina described the land boundary agreement as a historic moment in bilateral relations and added that the framework agreement on cooperation and development is a visionary document that looks not just on the reality today but also the potentials of tomorrow.
The agreement in itself is historic, because for the first time India will have a fully demarcated boundary with one of its neighbours. In a joint statement, after signing two agreements, Indian Prime Minister said that signing of the protocol on land boundary will resolve all issues relating to un-demarcated boundary areas, enclaves and land under adverse possession. 16.India and Israel Decided to Enhance Tourism Cooperation 17.71st International Congress of FIP (International Pharmaceutical Federation) organised 18.Sai Praneeth won Men’s Single in IFCI all-India Ranking Senior Badminton Championship 19.Union Cabinet of India Approved Land Acquisition Bill The Land Acquistion, Relief and Rehabilitation Bill, 2011, was approved by the Union Cabinet on 5 September 2011. It aims to put in place a transparent and legal framework for land acquisition. According to the proposed Bill, consent of at least 80 per cent of people will be mandatory to acquire land except where it is acquired for a public purpose. The Bill defines public purpose as land use for strategic purposes, infrastructure and industry. The Bill calls for different land acquisition norms for rural and urban areas. Under the new Bill, the states will be free to have their own land acquisition laws. The proposed law seeks to replace the 117-year-old Land Acquisition Bill, 1894 and for the first time integrates both land acquisition and R&R package.
Main features of land draft bill
• For land acquired in rural areas, the compensation will be four times the market value. The compensation package for urban area however remains two times the market value.
• Linear projects like Railways and Power lines will not be covered under the Bill.
Irrigated multi crop land can be acquired upto five percent. However, an equal area of waste land within the district will have to be developed.
• In case the acquired land is not used for the stated purpose the land will not be returned to the original owner but will go to state.
• States are free to have their own land acquisition law.
• Public purpose has been defined as land use for strategic purpose, infrastructure and industry.
• Consent of 80 percent people would be mandatory in case the land is acquired for private project. Consent not mandatory when land is acquired by the government for its own use.
• Urgency clause to be used in rarest of rarest case, such as emergencies or national calamity.
• Compensation should be completed within three months of acquisition. Re settlement and rehab monetary part should be completed within 6 months.
• Persons who have been dependent on the said land for at least three years will be eligible for compensation. 20.First Integrated Tea Park of the North East Region to be Set Up at Chaygaon 21.European Union Announced a Ban on Oil Imports from Syria 22.Star Indian Boxer Vijender Singh won gold at the World Police and Fire Games in New York 23.India’s First National Tennis Champion Sumant Mishra expired 24.Jamaica's Usain Bolt won the Men's 4x100 Relay Final at the World Athletics Championships

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