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Daily News Analysis 13-03-2016

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Port project gears up for early re-launch (Page 14)

a)     International

a)     Decks are being cleared for the early re-launch of the controversial $1.4-billion Colombo Port City Project, with the Sri Lankan and Chinese governments inching closer to a resolution of outstanding issues.

2.

Pyongyang warns of pre-emptive strike to liberate South Korea (Page 14)

a)     International

a)     North Korea said its military is ready to pre-emptively attack and liberate the South in its latest outburst against the annual joint military drills by the United States and South Korea.

3.

No concessions on rights, visas to Turkey (Page 14)

a)     International

a)     French President Francois Hollande said that the EU must not grant Turkey any concessions on human rights or visas in exchange for guarantees to stem the flow of migrants to Europe.

4.

Assad ouster not on talks agenda (Page 14)

a)     International

a)     Saying the Opposition was deluded if it thought it could take power in Geneva, the Syrian govt ruled out discussion of presidential elections or the position of the presidency at peace talks due to begin on March 14.

5.

India wont exploit exchange rate as trade tool, says Modi (Pages 1 and 12)

a)     Economy

a)     Taking a swipe at China, Prime Minister Narendra Modi said that Indias growth rate of over seven percent was being achieved in a country that is also a vibrant democracy.

6.

Lagarde backs fiscal, monetary policies for growth (Page 15)

a)     Economy

a)     International Monetary Fund Managing Director Christine Lagarde urged Asian nations to employ growth-friendly monetary and fiscal policies to counter challenges posed by a fragile global economy.

7.

Stolen Indian antiques seized in US (Page 20)

a)     History

b)     Culture

a)     Two stolen Indian statues that are more than 1000 years old dating back to as early as the 8th Century and valued at over $4,50,000 were seized in the US from premier auction house Christies just days before an auction next week.

 

 

 

 

 

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Port project gears up for early re-launch (Page 14)

a)     International

a)     Sri Lanka – China relations

b)     Colombo Port City Project

a)     Decks are being cleared for the early re-launch of the controversial $1.4-billion Colombo Port City Project, with the Sri Lankan and Chinese governments inching closer to a resolution of outstanding issues.

b)     The proposed visit of Sri Lankan PM Wickremesinghe to China during April 6-8 is expected to throw greater clarity on the project.

c)     Conceived during the previous Rajapaksa regime, the project was launched when Chinese President Xi Jinping visited Colombo in Sept 2014.

d)     A month after Sirisena defeated Rajapaksa, the project was suspended in February and the new govt decided to have a comprehensive environmental impact assessment.

e)     Though there had been reports of concerns expressed by India about the project from the beginning, Sri Lankas Foreign Affairs Ministry in mid-2015 categorically denied such reports.

f)     A few days back, the Sri Lankan Cabinet gave a formal approval for recommencement of the project and extension of the validity of the current agreement between the govt and the project company CHEC Port City Colombo Pvt Ltd to another six months.

2.

Pyongyang warns of pre-emptive strike to liberate South Korea (Page 14)

a)     International

a)     North Koreas nuclear arsenal

b)     South Korea – US joint military drills

a)  North Korea said its military is ready to pre-emptively attack and liberate the South in its latest outburst against the annual joint military drills by the US and South Korea.

b)    The Norths Korean Peoples Army said it will counter the drills by US and South Korea it says are aimed at advancing into Pyongyang with plans to liberate the whole of South Korea including Seoul and also that it is capable of executing ultra-precision blitzkrieg strikes against enemy targets.

c)     The allies say the drills (which this year are described as the biggest ever and follow the Norths recent nuclear test and long-range rocket launch) are defensive and routine.

3.

No concessions on rights, visas to Turkey (Page 14)

a)     International

a)     Europe refugee crisis

 

a)     French President Francois Hollande said that the EU must not grant Turkey any concessions on human rights or visas in exchange for guarantees to stem the flow of migrants to Europe.

b)     Under a controversial draft deal reached this week, Turkey would take back all migrants landing in Greece in a bid to reduce their incentive to pay people smugglers for dangerous crossings to the Greek islands in rickety boats.

c)     In return for every Syrian sent back from Greece, the EU would resettle one Syrian refugee from camps in Turkey - which is hosting about 2.7 million people who have fled the conflict across the border.

d) Turkey is also demanding €6 billion in aid, visa-free access for its nationals within Europes passport-free Schengen zone and for swifter action to process its bid to join the EU.

e)     The plan to expel migrants en masse from Greece has sparked international criticism, with the United Nations top officials on refugees and human rights questioning whether the deal would be legal.

4.

Assad ouster not on talks agenda (Page 14)

a)     International

a)     Syria crisis

a)     Saying the Opposition was deluded if it thought it could take power in Geneva, the Syrian government ruled out discussion of presidential elections or the position of the presidency at peace talks due to begin on March 14.

b)     Foreign Minister Walid al-Moualem confirmed his governments participation in UN-led talks but said they would fail if the Opposition had delusions that they will take power in Geneva that they failed to take in battle.

c)    He said the government delegation would reject any attempt to include presidential elections on the agenda.

d)     The Syrian Opposition wants the talks to focus on the establishment of a transitional governing body with full executive powers.

5.

India wont exploit exchange rate as trade tool, says Modi (Pages 1 and 12)

a)     Economy

a)     Global economic situation

b)     Indias economic growth

c)     IMF

d)     South Asia Regional Training and Technical Assistance Centre 

 

a) Taking a swipe at China, PM Modi said that Indias growth rate of over 7 percent was being achieved in a country that is also a vibrant democracy.

b)     Speaking at the Advancing Asia conference, he said that Indias rapid economic growth was also very distinct in Asia, as the country had never tried to gain in trade at the expense of partners, never undervalued its exchange rate; it rather added to the world and Asian demand by running current account deficits.

c)     India and the IMF also announced the signing of a MoU for establishing the South Asia Regional Training and Technical Assistance Centre. It is expected to become the focal point for planning, coordinating, and implementing the IMFs capacity-development activities in the region.

d)     This will include macroeconomic and fiscal management, monetary operations, financial sector regulation and supervision, and macroeconomic statistics. 

e)     The centre will help to address the existing training needs and respond to the demand for IMF training in India, Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka, while bringing the regions training volume on a par with those of other regions.

6.

Lagarde backs fiscal, monetary policies for growth (Page 15)

a)     Economy

a)     Global economic situation

b)     Fiscal and monetary policies

c)     Inflation

d)     Currency devaluation

e)     IMF

a)     IMF Managing Director Christine Lagarde urged Asian nations to employ growth-friendly monetary and fiscal policies to counter challenges posed by a fragile global economy.

b)     The call comes as policymakers the world over are struggling to revive their economies, which have been buffeted by slowing productivity and high debt.

c)   Central banks in Europe and Japan have resorted to negative interest rates to stimulate consumer demand and perk up worryingly low inflation.

d)     But the strategy has added to the volatility in the financial markets and raised the specter of competitive currency devaluation.

e)     The multilateral lender earlier this week warned of a further downgrade to the global growth outlook on increasing risks of economic derailment.

f)     In January, the IMF projected global growth of 3.4 percent and 3.6 percent in 2016 and 2017 (respectively), having revised down its October forecast for both years by 0.2 of a percentage point.

7.

Stolen Indian antiques seized in US (Page 20)

a)     History

b)     Culture

a)     Artifacts

b)     Rishabhanata

c)     Revanta

a)     Two stolen Indian statues that are more than 1000 years old dating back to as early as the 8th Century and valued at over $4,50,000 were seized in the US.

b)     The statues are believed to be dating back to 8th Century A.D. and 10th Century A.D.

c)     One of the artefacts is a sandstone statue of Rishabhanata, believed to be from Rajasthan or Madhya Pradesh belonging to the 10th Century A.D. It depicts the first Jain Tirthankara and is valued at approximately $1,50,000.

d)     The second artefact is a buff sandstone panel depicting Revanta, a rare representation of an equestrian deity. It dates back to the 8th Century A.D. and is valued at approximately $300,000.

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