India sixth most vulnerable country facing extreme weather events – Report
India has ranked as sixth most vulnerable country in the world on Global Climate Risk Index (CRI) 2018 released by Germanwatch (an independent Berlin-based development and environmental organisation)…
Global Climate Risk Index (CRI) 2018 – Top 10 Countries:
Asia-Pacific Economic Co-operation (APEC) summit held in Vietnam
Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting was held on 10th and 11th November, 2017 in Da Nang, Vietnam.
i. Theme of this meeting was ‘Creating New Dynamism, Fostering a Shared Future’.
ii. Leaders of 21 Pacific Rim countries attended this meeting.
iii. A join statement issued after the meeting laid emphasis on collaborative activity, such as the provision of support for small businesses, promoting sustainable growth and deepening economic integration.
iv. However two economic power houses, the US and China held opposing views on deepening economic integration. While Chinese President Jinping expressed support to further globalisation, US President Donald Trump was of the view to support ‘fair trade’. Strategic experts have inferred Donald Trump’s stance as a favour towards isolationism.
v. This was the first APEC meeting for several leaders including United States President Donald Trump, South Korean President Moon Jae-in and New Zealand Prime Minister Jacinda Ardern.
vi. Next year’s APEC summit will be held in Papua New Guinea.
Quick Facts about Asia-Pacific Economic Co-operation (APEC):
♦ Established in – 1989
♦ Headquarters – Singapore
♦ Current Chairperson – Tran Dai Quang
Banking & Finance
Air India gets Rs 1,500 crore loan from Bank of India
Air India has received a loan worth of Rs 1,500 crore from Bank of India to meet urgent working capital needs.
Air India – Rs 1,500 crore loan from Bank of India:
i. Air India has received Rs 1,500 crore loan from Bank of India after the tender for the amount was floated in October 2017, in order to meet urgent working capital needs.
ii. Earlier, Air India had borrowed around Rs 3,250 crore as short tenure loans from two lenders – IndusInd Bank and Punjab National Bank. This loan was also for meeting urgent working capital needs and the tender was floated in September 2017.
iii. Air India has a debt burden of more than Rs 50,000 crore. In the last three months, two public sector banks – Bank of India and Punjab National Bank have provided loans to Air India.
About Bank of India:
♦ Headquarters – Mumbai
♦ MD & CEO – Dinbandhu Mohapatra
Karnataka inks pacts with Chinese firms
Sixth China-India Forum meet was held in Bengaluru on November 10, 2017.
Highlights of Sixth China-India Forum:
i. This event was jointly hosted by the Government of China, Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), China-India Friendship Association (CIFA), and Podar Enterprise.
ii. During the course of this forum, several pacts were signed between Chinese firms, Chinese Government bodies, Karnataka Government and Podar Group of Companies.
iii. Semiconductor Alliance of China and Beijing Construction & Highway Development Group presented expression of interest (EoI) letters to the Karnataka government.
iv. Other important pacts: MoU between Podar Enterprise and Hebei Provincial Government for strategic cooperation. Tri-party MoU of cooperation between Podar Advisory and Consulting Enterprise signed, Baoding City Government and Hebei Information Investment Group.
Quick Facts about Karnataka:
♦ Capital – Bengaluru
♦ Current Chief Minister – Siddaramaiah
♦ Current Governor – Vajubhai Vala
♦ Important National Parks – Bandipur National Park, Bannerghatta National Park