hello Aspirants, The Current Affairs Daily Digest for January 14, 2017 with important tid-bits on current affairs includes sbi pact with Oman, india and usa relation.
SBI Signs $ 50 mn Pact with Oman’s SGRF
i. State Bank of India has signed a pact with the State General Reserve Fund of Oman (SGRF), a Sovereign Wealth Fund to infuse $50 million in private equity fund Oman India Joint Investment Fund (OIJIF) while the SGRF would infuse $150 million.
ii. The SBI aims at backing the private equity fund for its second offering (Fund II).
iii .This decision is driven by the performance in the first fund and capital requirement for mid-size companies in the country. The first fund of $100 million, has been fully invested across seven companies and has returned around 50 per cent of the capital invested.
♦ Capital: Muscat
♦ Currency: Omani rial
♦ Sultan: Qaboos bin Said al Said
India signs MoU with US to Aid Third World Countries
i. The Millennium Challenge Corporation (MCC) of US and Development Partnership Administration (DPA) of the Ministry of External Affairs of India on January 13, 2017 have signed an MoU for collaboration in the fields of developmental activities and assist the third world countries.
ii .Under the MoU the two countries would collaborate on exchange of information and experience in issues pertaining to project development or implementation in partner countries.
iii. The agreement also includes providing advisory or technical assistance to third countries regarding sector policy reform, project and sector management, project implementation, and economic growth promotion strategies in relevant sectors.
iv. MCC is a US agency providing eligible countries with grants to fund country-led solutions for reducing poverty through sustainable economic growth.
v. DPA looks after implementation of India’s development cooperation programmes with partner countries.
Unemployment in India to increase marginally in 2017-18:
ILO According to recently released World Employment and Social Outlook for 2017, the number of unemployed people in India is expected to rise by 1 lakh in 2017 and another 2 lakh in 2018. The report was released by the International Labour Organisation (ILO) with projections based on econometric modelling carried out in November 2016.
Ecuador takes chair of UN group of G77 countries :
Ecuador has taken over from Thailand as chair of the Group of 77 (G77) countries of the United Nations for the year 2017. The group promote collective economic interests of the 134 developing countries at the United Nations, including India. The group was founded in June 1964 by the Joint Declaration of the Seventy-Seven Countries at the UNCTAD. There were initially 77 founding members of the organization, but by November 2013 the organization expanded to 134 member countries.
♦ Capital: Quito ♦ Capital: Bangkok
♦ Currency: United States Dollar ♦ Currency: Thai baht
♦ President: Rafael Correa ♦ King: Vajiralongkorn
Australia, Japan boost defense ties amid China’s growing military might
Japanese Prime Minister Shinzo Abe and Australian Prime Minister Malcolm Turnbull signed an upgraded defence agreement to boost cooperation between their militaries on January 14, 2017.
♦ Beside with this they also reaffirmed their support for the Trans-Pacific Partnership agreement the 12-nation trade pact
Benefits of the Agreements :
i. The pact will allow their militaries to provide each other with logistical support during exercises.
ii. It will enhance their coordination on activity in the disputed South China Sea and the nuclear threat posed by North Korea
♦ Capital: Canberra
♦ Currency: Australian dollar