{Current Affairs} Daily News Notes: 29th Jan to 2nd Feb, 2013

• The government, on Thursday, announced a downward revision in GDP (gross domestic product) growth to 6.2 per cent for fiscal year 2011-12 from the earlier provisional estimate of 6.5 per cent. Alongside, however, the GDP growth for 2010-11 fiscal stands revised upwards to 9.3 per cent from 8.4 per cent, as per the first revised estimates of ‘National income, consumption expenditure, saving and capital formation’, released here by the Central Statistics Office (CSO) for 2011-12 along with second revised estimates for 2010-11 and the third revised estimates for 2009-10. Other Highlights: [1.] GDP at factor cost at constant (2004-05) prices in 2011-12 is estimated at ` 52,43,582 crore as against ` 49,37,006 crore in 2010-11 registering a growth of 6.2 per cent during the year as against a growth of 9.3 per cent in the year 2010-11. At current prices, GDP in 2011-12 is estimated at `83,53,495 crore as against ` 72,66,967 crore in 2010-11, showing an increase of 15.0 per cent during the year, as against an increase of 19.0 per cent in the previous year. GDP at market prices at constant (2004-05) prices in 2011-12 is estimated at ` 56,31,379crore as against ` 52,96,108 crore in 2010-11 registering a growth of 6.3 per cent during the year as against a growth of 10.5 per cent in the year 2010-11.; [2.] At constant (2004-05) prices, the Gross National Income at factor cost in 2011-12 is estimated at ` 51,96,848 crore as against` 48,82,249 crore in 2010-11 showing a rise of 6.4 per cent during the year, as against an increase of 8.8 per cent in the previous year. At current prices, the Gross National Income in 2011-12 is estimated at` 82,76,665 crore as compared to `71,85,160 crore in 2010-11, showing a rise of 15.2 per cent during the year, as against an increase of 18.4 per cent in the previous year;[3.] The growth rate of 6.2 per cent in the GDP during 2011-12 has been achieved due to growth in financing, insurance, real estate & business services (11.7%), transport, storage and communication (8.4%), electricity, gas & water supply (6.5%) and trade, hotels & restaurants (6.2%); [4.] At constant prices, the primary sector, i.e. agriculture, forestry & fishing has shown a growth of 3.6 per cent during 2011-12 as against 7.9 per cent during the year 2010-11. The growth of secondary sector is 3.5 per cent and that of service sector is 8.2 per cent during 2011-12, as against a growth of 9.2 per cent and 9.8 per cent, respectively, in the previous year; [5.] Gross Domestic Capital Formation has increased from ` 28,71,649 crore in 2010-11 to ` 31,41,465 crore in 2011-12 at current prices and it increased from `21,20,377 crore in 2010-11 to `21,31,839 crore in 2011-12 at constant (2004-05) prices. The rate of Gross Capital Formation at current prices is 35.0 per cent in 2011-12 as against 36.8 per cent in 2010-11; [6.] The per capita income (per capita Net National Income at factor cost) in real terms, i.e. at 2004-05 prices, is estimated at ` 38,037 for 2011-12 as against `36,342 in 2010-11, registering an increase of 4.7 per cent during the year, as against an increase of 7.2% during the previous year. The per capita income at current prices is estimated at ` 61,564 in 2011-12 as against ` 54,151 for the previous year depicting a growth of 13.7 per cent, as against an increase of 17.1% during the previous year. [InfoGraphic]
• Section 126 of the Representation of the People, 1951, prohibits displaying any election matter by means, inter alia, of television or similar apparatus, during the period of 48 hours before the hour fixed for conclusion of poll in a constituency. Violation of the aforesaid provisions of Section 126 is punishable with imprisonment upto a period of two years, or with fine or both. Concerned TV/Radio/Cable/FM channels are free to approach the state/district/local authorities for necessary permission for conducting any broadcast related events which must also conform to the provisions of the model code of conduct and the programme code laid down by the Ministry of Information and Broadcasting under the Cable Network (Regulation) Act with regard to decency, maintenance of communal harmony, etc.
• Union Minister of Culture Smt. Chandresh Kumari Katoch launched the digital version of the catalogue of publications (till June 2012) of National Archives of India (NAI) on the website under section “List of Publications”. In the first phase of the digitalization of publications of this department, only non-priced publications which are in single volume have been made available for download. In the second phase Annual Reports of National Archives of India (1891 onward) and Report of the Director General of Archives and other non-priced publications in various volumes would be made available on the website. The last phase of digitalization will deal with all priced publications of the department. Out of total 101 titles, 40 are priced publications, 49 are non-priced, 8 are reprints and 4 are facsimile copies of the manuscripts preserved in the National Archives of India.
• The Prime Minister has decided to constitute an Executive Committee on Climate Change to assist the Prime Minister’s Council on Climate Change. The Committee will regularly monitor the implementation of the eight national missions and other initiatives on Climate Change. It will also advise the PM’s Council on Climate Change on modifications in the objectives, strategies and structure of the missions, as may be necessary. Principal Secretary to the Prime Minister will be the Chairman of the Committee. Background: The Prime Minister’s Council on Climate Change was constituted in 2007, in order to co-ordinate National Action for Assessment, Adaptation and Mitigation of Climate Change. The National Action Plan of Climate Change (NAPCC) was released by the Prime Minister in June 2008. Under the NAPCC, with the approval of PM’s Council on Climate Change, eight national missions are being implemented.
• The Union Cabinet has approved the proposals submitted by the Department of Personnel & Training for moving official amendments to the Lokpal and Lokayuktas Bill, 2011 as reported by the Select Committee of Rajya Sabha. The Lokpal and Lokayuktas Bill, 2011 was passed by the Lok Sabha on 27th December, 2011. However, the Rajya Sabha adopted a motion on 21.05.2012 to refer the Bill to a Select Committee of the Rajya Sabha for examination and report. Some Highlights of the Bill: [1.] The Committee has recommended to do away with Part-III of the Bill which deals with setting up of the Lokayukta in the States. However, it adds for the replacement of Part-Ill of the Bill with a new Section 63 which provides for setting up of the institution of Lokayukta through enactment of a law by the State Legislature within a period of 365 days from the date of commencement of the Act; [2.] Fifth member of the Selection Committee (i.e., eminent jurist) to be nominated by the President on recommendation of the other four members of the Selection Committee, viz. Prime Minister, Speaker (Lok Sabha), Leader of Opposition (Lok Sabha) and Chief Justice of India; [3.] Government has decided to exempt only such bodies or authorities established, constituted or appointed by or under any Central or State or Provincial Act providing for administration of public religious or charitable trusts or endowments or societies for religious or charitable purposes registered under the Societies Registration Act; [4.] Lokpal can order investigation against a public servant, in case a prima facie case exists, after calling for explanation from the public servant. Thus, Lokpal to have power to grant sanction for prosecution of public servants; [5.] The Committee has recommended that in the Bill, the seeking of comments from the public servant during the preliminary inquiry should not be mandatory and has accordingly suggested the addition of the word "may" in the said clause. Government has decided to oppose this recommendation of the Select Committee and move an official amendment for the purpose; [6.] Political parties exempt from the purview of the Lokpall Bill 2011, as they are already covered under the Representation of People’s Act
• Lok Sabha has passed Whistle Blowers Protection Bill 2011 to protect identity of whistleblowers and safeguard against their victimization. Further, Benami Transaction (Prohibition) Bill 2011 has been introduced in Parliament. The Bill elaborately covers definition of ‘benami’ property and transaction, and prohibits benami transactions. The bill has called for the stringent punishment for ‘benami’ transactions.
• The Union Cabinet gave its approval to the proposed amendments in the Regional Rural Banks (RRBs) Act, 1976 to enhance authorized and issued capital to strengthen their capital base. The proposed amendments will ensure financial stability of RRBs which will enable them to play a greater role in financial inclusion and meet the credit requirements of rural areas and the Boards of RRBs will be strengthened. Background: Regional Rural Banks (RRBs) were established under Regional Rural Banks Act, 1976 (the RRB Act) to create an alternative channel to the 'cooperative credit structure and to ensure sufficient institutional credit for the rural and agriculture sector. RRBs are jointly owned by the Government of India, the concerned State government and sponsor banks, with the issued capital shared in the proportion of 50 percent, 15 percent and 35 percent, respectively. As per provisions of the Regional Rural Banks Act, 1976 the authorized capital of each RRB is Rs. 5 crore and the issued capital is a maximum Rs. 1 crore.  
• The Government has notified the policy for providing 50% preference to domestically manufactured electronic products in the Government procurement to all Ministries/Departments (except Defence) due to security considerations. This is one of the strategies contained in the National Policy on Electronics (NPE 2012) approved by the Government for promoting the domestic Electronics System Design and Manufacturing (ESDM) Industry in the country.
• The Eight core industries (Coal, Crude Oil, Natural Gas, Petroleum Refinery, Fertilizer, Steel, Cement and Electricity) have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP). The combined Index was 154.6 in December 2012 with a growth rate of 2.6% compared to their 4.9% growth in December 2011.  The decline in growth in December, 2012 was on account of negative growth witnessed in the production of Coal, Natural Gas and Fertilizers.
• Union Tourism Minister has welcomed the decision of Reserve Bank of India to allow Indian companies in the hotel sector to avail benefits under the ECB (External Commercial Borrowings) scheme to repay their outstanding rupee loans and or to finance fresh capital expenditure. [InfoGraphic]
• The Joint Parliamentary Committee (JPC) on 2G which called back the former Comptroller and Auditor General (CAG) official, R.P. Singh, for questioning following his recent allegations against PAC chairman Murli Manohar Joshi and CAG Vinod Rai has established his allegations to be false. JPC member Gurudas Dasgupta told that he would move a privilege motion against Mr. Singh for making allegations without any evidence. 
• Congress declared that it favours the creation of Telangana in a definitive statement which can dispel the uncertainty about the party’s stand on the vexed issue just when the region has been roiled by turmoil over the Centre’s failure to keep its pledge to close the issue by January 28. AICC spokesman P C Chacko said, “Congress is for Telangana. It is only an issue of time. A decision has to be taken… it has to have a constitutional basis. That (process) has to be completed now.” Congress is looking at two windows to announce statehood. It could either make public its stance in February or after the budget session of Parliament in April. [InfoGraphic]
• India is looking at “some other” steps to curb gold import which has led to widening of the Current Account Deficit (CAD), Finance Minister has said. Even the Reserve Bank in its policy review has raised concerns over the high gold import and CAD, which is the difference between inflow and outflow of foreign currency. To check imports, the government last week hiked duty on gold to 6 per cent from 4 per cent. It also linked gold ETF (Exchange Traded Fund) schemes offered by mutual funds to gold deposit schemes of banks with a view to increase availability of physical gold in the market. Till December India has imported gold worth USD 38 billion. In the last fiscal, the gold import was at USD 56 billion. Gold import, which was only second to oil, contributed to the CAD, which widened to a record high of 5.4 per cent of GDP in the July—Sept quarter.
• With the probe into incidents involving B-787 Dreamliners likely to take some more time to be wrapped up, Air India has decided to put up for sale and leaseback all six newly-acquired Dreamliners. The national carrier had gone ahead with this plan to cut losses and had the backing of the government as part of its turnaround and financial restructuring plans. The six state-of-the-art Dreamliners have been grounded since January 17 and are likely to remain in that state for another month. In all, 50 Dreamliners have been grounded all over the globe following a directive from the U.S. Federal Aviation Administration (FAA) after a fire risk reportedly caused by a battery problem. Air India plans to sell all its 27 Dreamliner aircraft to a lessor and lease them back to operate by paying monthly rentals, a common fund-raising practice among airlines. Air India has adopted this practice in the past also. Sale-leaseback is an arrangement in which an owner sells an asset to a leasing firm and, at the same time, leases it (as a lessee) on a long-term basis to retain exclusive possession and use. This frees capital tied up in a fixed asset, while the lender obtains a guaranteed lease. Air India can claim tax deductions as the asset is no longer owned but leased, which will help it in streamlining its operations and cut costs.
• States have agreed to the compensation formula suggested by the Centre for their CST (Central Sales Tax) revenue loss for implementing the Goods and Services Tax (GST w.e.f April 1, 2014), said Sushil Kumar Modi, Chairman of the Empowered Committee of State Finance Ministers, and Deputy Chief Minister of Bihar. “States will be given 100 per cent compensation of their claims for 2010-11, 75 per cent for 2011-12 and 50 per cent for 2012-13. The compensation formula has been prepared on the basis of the August 22, 2008, guideline,” Mr. Modi said. According to initial estimates, the total compensation which the States will receive, comes to around Rs.34,000 crore. States having manufacturing base and mineral export are the worst sufferers. States that have lost more than Rs.1000 crore due to gradual cut in CST include Gujarat, Andhra Pradesh, West Bengal, Tamil Nadu, Odisha and Haryana. [InfoGraphic]
• After a record run in two consecutive years, foodgrains production is likely to decline this year owing to the deficient southwest monsoon during the 2012-13 kharif season (June-Oct). This adversely impacted the output of pulses, coarse cereals and oilseeds, with a bearing on their price levels. But what may bring down the overall output is the slightly lower area sown under rabi season (Oct-Apr) wheat, rice, coarse cereals and minor oilseeds. The crops that are under stress include minor oilseeds, jowar and bajra, while pulses remain an area of concern. The States that have suffered the most due to rain deficit are Karnataka, Tamil Nadu, Maharashtra and Andhra Pradesh. Rice output will be hit in Tamil Nadu and Andhra Pradesh because of water deficiency, while rabi sowing is down in Maharashtra and parts of Andhra Pradesh, official sources said. The good news is that the estimate of the highest ever foodgrains production of last year at 257.44 million tonnes may be better by about one per cent in the final estimates that will be released shortly. 
• As widely expected, the Reserve Bank of India (RBI) reduced the indicative policy rate (repo rate) by 25 basis points from 8 per cent to 7.75 per cent. This is likely to help banks reduce their lending rates. Repo rate is the rate at which banks borrow funds from the central bank. The central bank also cut the Cash Reserve Ratio (CRR), the portion of the deposits that the banks are required to maintain with the RBI, by 25 basis points from 4.25 per cent to 4 per cent, pumping in a liquidity of Rs.18,000 crore into the system from February 9. However, the rate cut does not mean that the RBI is comfortable with the macro-economic indicators which would allow it to cut rates. The RBI front-loaded the cut with a reduction of 50 basis points from its peak of 8.50 per cent to 8 per cent in April 2012. Since then, ballooning inflation prevented the RBI from cutting rates. Meanwhile, slowing growth made RBI’s job much more difficult. “The widening current account deficit (CAD) to historically high levels, especially in the context of a large fiscal deficit and slowing growth, exposes the economy to the twin deficit risk…..Large scale deficits will accentuate the CAD risk, further crowd out private investment and stunt growth impulses,’’ RBI warned. [InfoGraphic#1]; [InfoGraphic#2]; [InfoGraphic#3]
• “A modified Direct Taxes Code (DTC) Bill is to be placed in Parliament for approval after incorporating changes as per the suggestions made by the Standing Committee on Finance,” said Advisor to Finance Minister Parthasarathi Shome. In its report on the DTC Bill submitted to Parliament in March last year, the standing panel on finance headed by former Finance Minister and senior BJP leader Yashwant Sinha had suggested a hike in the income tax exemption limit to Rs.3 lakh as against Rs.2 lakh proposed in the original DTC Bill. The Bill, tabled in August, 2010, was referred to the standing panel for scrutiny. Among other things, the committee had also suggested that subsequent tax slabs be accordingly adjusted to provide relief to the taxpayers who were already burdened under the impact of inflation. [InfoGraphic]
• With a view to cleaning the Yamuna, the National Green Tribunal on Thursday restrained any body, person or authority from throwing debris of any kind, including solid wastes, on the banks of the Yamuna or the water body near the grand old river. A Full Bench of the Tribunal, including its Chairperson Justice Swatanter Kumar, passed this order after hearing counsel for various parties.
• On the occasion of the 8th MNREGA Diwas in New Delhi, the Mandi district of Himachal Pradesh was conferred with National award for women participation in Mahatma Gandhi Rural Employment Guarantee Act MNREGA while Dharaich Gram Panchayat of Shimla District remained at the 6th place for best implementation of this National Flagship Programme. Tamil Nadu has got three national awards for excellence in MNREGA implementation.
• Russia has completed repairs on INS Vikramaditya [Admiral Gorshkov], fixing the engine problems that caused a delay in the delivery of the refitted aircraft carrier to India last year. Russian officials said earlier that the aircraft carrier would be delivered to India in November 2013. Russia’s United Shipbuilding Corporation has confirmed the report, adding that sea trials of the aircraft carrier would resume in summer. During the sea trials last year the ship developed propulsion problems when insulation firebricks on the boilers started to fall out when the engines were run at full power. The repairs involved replacing the insulation lining between the boiler steel casing and ceramic firebricks.
• In classified protests to a United Nations watchdog that have never been disclosed till now, Pakistan has accused Indian soldiers of involvement in the torture and decapitation of at least 12 Pakistani soldiers in cross-Line of Control raids since 1998, as well as the massacre of 29 civilians. The allegations, laid out in confidential Pakistani complaints to the United Nations Military Observer Group in India and Pakistan (UNMOGIP), suggest that Indian and Pakistani troops stationed on the Line of Control remain locked in a pattern of murderous violence, despite the ceasefire both armies entered into in November 2003. UNMOGIP, set up after the India-Pakistan war of 1947-1948 to monitor ceasefire violations, does not conduct criminal investigations, or assign responsibility for incidents. The reports of its ceasefire monitors are sent to the organisation’s headquarters in New York, and forwarded to the Ministry of Defence in New Delhi. [InfoGraphic]
• Under a new energy development plan for 2015, China has given the go-ahead for the construction of three new hydropower dams on the middle reaches of the Brahmaputra River, ending a two-year halt in approving new projects on the river amid concerns from India and environmental groups. China has, so far, only begun construction on one major hydropower dam on the main stream of the middle reaches of the Brahmaputra or Yarlung Zangbo as it is known in China – a 510 MW project in Zangmu in the Tibet Autonomous Region (TAR), which began to be built in 2010.
• India, on Monday, told South Korea that it would review the delays that had kept hanging the implementation of the $12 billion POSCO India project, the biggest foreign direct investment (FDI) into India in the Jagatsinghpur district of Odisha. POSCO signed a Memorandum of Understanding (MoU) in June 2005, to incorporate an Indian subsidiary and build a steel plant in Orissa. The project, with an annual capacity of 12 million tonnes per annum, was proposed in 2007, and has been faced with controversies, unending delays and opposition at the local level from fishermen and tribals. However, a year after the 2005 MoU was signed, India's parliament passed a new law, which directly affected Posco-India. This law, The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, is also commonly called as the Forests Rights Act. The law granted certain rights to forest-dwelling communities in India, including the use of forest land and other resources. Presently, the National Green Tribunal had asked the Ministry of Environment and Forests to make a fresh review of the clearance accorded to the project with specific reference to the observations/apprehensions raised by the Review Committee. POSCO is also in discussion with Steel Authority of India Limited (SAIL) for a three million-tonne capacity steel plant in Jharkhand (near SAIL’s Bokaro Steel Plant) on a 50:50 joint venture (JV) basis.
• Deeply concerned about the hardships and sufferings of the people of Syria as a result of unabated violence there, India will be pledging about Rs 14 crore towards humanitarian assistance in a UN conference which will be held in Kuwait on Wednesday. This assistance will be in the form of life saving drugs, food and other essential items required by the people of Syria.
• United States said the proposed U.S.-India Bilateral Investment Treaty (BIT) should ensure openness to investment across the economy, have strong provisions for investor protection and transparency and offers effective mechanisms to resolve investment disputes. US Under Secretary, Mr. Hormats said US sees ASEAN and India as two of the strongest pillars of the global economies in the 21st century. ``When people ask why the US is so interested in expanding its ties with India, my response is three-fold – One, our ties make geo-strategic sense; two, they make geo-economic sense; and three and most importantly, our citizens will benefit from it.’’ 
• India has asked Canada to liberalise its visa regime to achieve the goal of increasing bilateral trade to 15 billion dollars annually (from $5 B at present) in the next three years (by 2015). Visa laws are among some issues which are substantially discouraging influx of genuine Indian investors, professionals, and businesses to Canada. However, civil nuclear cooperation agreement between the two countries as a “landmark achievement. Canada is several steps ahead from US, France and Australia in the field of civil nuclear cooperation. India intends to increase the nuclear power generation capacity from the current 3 per cent to about 25 per cent by 2050 and this provides a great opportunity for Canadian nuclear industry.
• India has dropped nine places to 140 in the list of 179 countries in the 2013 World Press Freedom Index. In Asia, India (140th, — 9) is at its lowest since 2002 because of increasing impunity for violence against journalists and because Internet censorship continues to grow. China (173, +1), it said, had shown no sign of improving. “Its prisons still hold many journalists and netizens, while increasingly unpopular Internet censorship continues to be a major obstacle to access to information.” As last year, the list is topped by three European countries — Finland, Netherlands and Norway. Turkmenistan, North Korea and Eritrea continue to be at the bottom of the list as has been in the last three years.
• The Cabinet Committee on Economic Affairs(headed by Prime Minister) gave its approval to authorize ONGC Videsh Limited (OVL) acquisition of stake in an Azerbaijan oilfield for $1.001 billion. The acquisition shall provide OVL, oil production of about 1 Million Ton per year for about a decade. The CCEA approved OVL acquiring US energy major Hess Corp's 2.7213 per cent stake in the Azeri, Chirag and the deep water portion of Guneshli fields in the Azerbaijan sector of the Caspian Sea and 2.36 per cent interest in the Baku-Tbilisi-Ceyhan (BTC) pipeline. Other partners include Chevron (10.2 per cent), State Oil Company of Azerbaijan Republic (SOCAR 10 per cent), Inpex (10 per cent), Norway's Statoil (8.6 per cent), ExxonMobil (8 per cent), Turkish national oil company TPAO (6.8 per cent), Chevron (5.6 per cent) and Japanese Itochu (3.9 per cent). About OVL: ONGC Videsh Limited (OVL) is the international arm of ONGC. It was rechristened on 15 June 1989. OVL is present in 15 nations including Brazil, Colombia, Cuba, Iran, Iraq, Kazakhstan, Libya, Myanmar, Nigeria, Russia, South Sudan, Sudan, Syria, Venezuela and Vietnam.
• Indian Minister for New & Renewable Energy and Span Minister of State for Research, Development and Innovation have agreed to enhance research, cooperation and technologies in the field of Renewable Energy. Besides, research projects in the area of forecasting of wind power and fabrication of cost effective solar cells will be considered for financing by the Indian and Spanish governments. India is the fifth largest country in the world in terms of wind power installed capacity. In addition, India’s National Solar Mission aims to facilitate the installation of 20000 MW of grid connected power capacity by 2020. Spain is the 4th largest producer of wind generated power and is top-ranked worldwide in terms of photovoltaic solar power capacity. The Solar Platform of Almeria (PSA), run under the Spanish Ministry of Economy and Competitiveness is considered one of the largest and best R&D facilitates for Concentrating Solar Power Technologies.
• Election Commission of India, as the current Chair of the Forum of Heads of Election Management Bodies of SAARC Countries (AFG, BD, BU, IND, NPL, MLD, PAK, SL), has hosted a meeting of all Forum members, to strengthen mutual cooperation in the field of electoral management. The Forum decided to formulate an action-oriented Work Plan for 2013-14, and to initiate action to link the web-sites of the member-Commissions, as a precursor to a Forum web-site to facilitate faster connectivity, coordination, exchange of information and experiences.  The Forum also decided to rename itself as the Forum of Election Management Bodies of South Asia.  The next meeting of the Forum will be hosted by Bhutan later this year. Delegates from Pakistan informed the meet that they have adopted from India the concept of the National Voters Day to enhance people’s participation in elections.
• Israel became the first country to boycott a U.N. review of its human rights practices on Tuesday, shunning efforts by the U.S. and others to encourage its participation in a process in which all countries have hitherto taken part. Israel’s decision reflects its longstanding frustration with the Council’s perceived anti-Israeli bias, said diplomats. Over half the resolutions passed by the Council since it started work in 2006 have targeted Israel, which is also the only country to feature as a standing item on the Council’s agenda. Despite these tensions, Israel, until last year, had preferred to work with the Council and in December 2008 participated in the review of its human rights record. 
• Myanmar on Monday announced a deal with international lenders to cancel nearly $6 billion of its debt, another milestone in the rapid transformation of the former junta-ruled nation. The former pariah state also cleared its arrears to the World Bank and the Asian Development Bank (ADB) with the help of a bridge loan from Japan, removing another key hurdle for the resumption of international aid. According to Myanmar, Japan has committed to cancel arrears worth more than $3 billion while Norway is writing off $534 million. The moves follow a string of dramatic political reforms in Myanmar, which is seeking development assistance and foreign investment to boost its ailing economy as it emerges from decades of military rule. President Thein Sein has overseen a series of dramatic reforms since taking office in 2011, including the release of political prisoners and the election of Nobel Peace Prize winner Aung San Suu Kyi to parliament.
• South Korea succeeded on Wednesday in its third attempt to put a satellite into orbit by Korea Space Launch Vehicle (KSLV-I) , in a high-stakes test of national pride after arch-rival North Korea got there first with a rocket launch last month. A positive outcome after successive failures in 2009 and 2010 was critical to ensuring the future of South Korea's launch programme and realising its ambition of joining an elite global space club. But South and North Korea remain way behind Asian powers with a proven track record of multiple launches -- China, Japan and India. Seoul's space ambitions were restricted for many years by its main military ally the United States, which feared that a robust missile or rocket programme would accelerate a regional arms race, especially with North Korea. After joining the Missile Technology Control Regime in 2001, South Korea made Russia its go-to space partner, but the relationship has not been an easy one. In 2009 faulty release mechanisms on the rocket's second stage prevented proper deployment of the satellite. The second effort in 2010 saw the rocket explode two minutes into its flight, with both Russia and South Korea blaming each other.
• A suspected suicide bomber has attacked the American embassy in the Turkish capital Ankara, killing a security guard. The strike did not seem to cause much structural damage. The American embassy is in the heart of Ankara’s diplomatic neighbourhood, with the German and the French embassies close by. No one has so far taken responsibility for the strike, but Kurdish separatists and a local branch of al-Qaeda are the initial suspects. In 2003, suicide bombers of a local branch of al-Qaeda were suspected of bombing the British consulate, a British bank and two synagogues. That attacks had killed at least 58 people.
• Israeli warplanes carried out a strike deep inside Syrian territory on Wednesday, U.S. officials reported, saying they believed the target was a convoy carrying sophisticated anti-aircraft weaponry on the outskirts of Damascus that was intended for the Hezbollah in Lebanon. The Syrian government condemned as an act of “arrogance and aggression”. Israel’s move demonstrated its determination to ensure that Hezbollah — its arch foe in the north — is unable to take advantage of the chaos in Syria to bolster its arsenal. [InfoGraphic]
• Russian President Vladimir Putin will lead tributes to mark the 70th anniversary of the end of the Battle of Stalingrad. The city of Stalingrad, which was renamed Volgograd in 1961, will regain its wartime name for the event, following a Council decision. Around one million people are said to have died in the battle, as Soviet troops defeated the Germans. It is considered one of the major turning points of World War II. Reports say, the vast death toll is not the only reason why the battle has huge significance in Russia, it is also seen as the moment when the tide was turned against the Nazis. From Stalingrad some Soviet soldiers fought all the way to Berlin. The defeat threw Hitler's offensive in the Soviet Union into disarray.
• The UN Special envoy on Syria, Lakhdar Brahimi has called for a Security Council resolution to end the 22 month long conflict in Syria.
• A hole in the Antarctic ozone layer has changed the way waters in the southern oceans mix, which scientists say could impact global climate change. The situation has the potential to alter the amount of CO2 in the atmosphere, scientists say. "This matters because the southern oceans play an important role in the uptake of heat and carbon dioxide, so any changes in southern ocean circulation have the potential to change the global climate," they said in a statement. Researchers used measurements taken from the early 1990s to the mid-to-late 2000s of the amount of a chemical compound known as "chlorofluorocarbon-12," or CFC-12, in the southern oceans. CFC-12 was first produced commercially in the 1930s and its concentration in the atmosphere increased rapidly until the 1990s when it was phased out by the Montreal Protocol on substances that deplete the ozone layer.
• Scientists have developed a new technique of measuring the mass of Supermassive black holes which they say could revolutionise our understanding of how they form and help to shape galaxies. The method can spot the tell-tale tracer of carbon monoxide within the cloud of gas (mostly hydrogen) circling a supermassive black hole at the centre of a distant galaxy. By detecting the velocity of the spinning gas they are able to ‘weigh’ (determine the mass) the black hole. The new method, when combined with new telescopes such as ALMA (Attacama Large Millimetre/submillimetre Array), promises to extend this black hole ‘weigh-in’ to thousands of distant galaxies.
• NASA on Thursday launched a new communication satellite (by an unmanned Atlas V rocket) to stay in touch with its space station astronauts and relay more Hubble telescope images. This is the 11th TDRS satellite to be launched by NASA. The space agency uses the orbiting network to communicate with astronauts living on the International Space Station. This newest third-generation TDRS carries the letter K designation.  Another TDRS spacecraft, L in the series, will be launched next year.
• A Russian rocket carrying a U.S.-made Intelsat-27 communications satellite reportedly plunged into the Pacific Ocean shortly after its launch Friday. The Sea Launch consortium, led by Russian space corporation, launched the rocket.  The Zenit-3SL rocket, jointly produced by Ukrainian and Russian companies, suffered an engine failure shortly after liftoff. The satellite, constructed by The Boeing Company (NYSE:BA) of Seattle, with a working lifespan of 15 years, was supposed to serve government and media clients in the U.S. and Europe. Sea Launch was formed in 1995 as a consortium of four companies from Norway, Russia, Ukraine and the U.S. This is the third time a rocket has completely failed in a sea launch of 34 launches conducted since 1999. The first failure was in March, 2000, when a software error resulted in premature cut-off of the second stage, leaving the satellite unable to reach the orbit. In January 2007, a Zenit-3SL rocket carrying a Dutch satellite NSS-8 and 500 tons of fuel exploded on launch.
• Researchers at the University of Cambridge have discovered how an antibiotic-resistant superbug exploits oxygen-limited conditions in the lungs of patients with severe respiratory disease to thrive. It is hoped the discovery could lead to new ways to target the Pseudomonas aeruginosa bacterium, which is responsible for six per cent of healthcare associated infections in NHS patients and has a widespread resistance to many a ntibiotics. Infection by P. aeruginosa is a major cause of death in patients with Cystic Fibrosis. The research shows that an infection pathway in P. aeruginosa is activated when the bug encounters low-oxygen conditions.
• The US Food and Drug Administration approved Kynamro (mipomersen sodium) injection as an addition to lipid-lowering medications and diet to treat patients with a rare type of high cholesterol called homozygous familial hypercholesterolemia (HoFH). The addition of Kynamro helps to reduce low-density lipoprotein-cholesterol (LDL-C), apolipoprotein B, total cholesterol, and non-high density lipoprotein-cholesterol (non HDL-C). HoFH, an inherited condition that affects about one out of every one million people in US, occurs when the body is unable to remove LDL-C, often called "bad" cholesterol, from the blood causing abnormally high levels of circulating LDL-C. For those with HoFH, heart attacks and death often occur before age 30.
• Globally 29% of workers are sleeping less than they wish to fit all their commitments and in India 31% of workers are sacrificing sleep to fit in work and personal commitments, while over a fifth (22%) feel they have to overcompensate for time taken off for personal matters, either by waking up too early or by burning the midnight oil. Although flexible working is highlighted as a way to reduce commuting, creating more hours in the day for sleep or family life and improving productivity and staff retention, only 60% of firms are rewarding management for encouraging the creation of a flexible workforce. Workers also highlight that a shorter commute (41%) and greater flexibility of location (36%) would give them more time to spend with their families as well as to catch some extra shut-eye, but businesses can also benefit from introducing greater flexibility which is reported to improve productivity (69%) and help retain staff (84%). These are some of the key findings of a global survey by Regus, the world's largest provider of flexible workplaces, based on interviews with more than 24,000 business-people from over 90 countries.
• A gray-tufted monkey strapped in a pod resembling an infant's car seat rode an Iranian rocket into space and returned safely, officials said Monday in what was described as a step toward Iran’s goal of a manned space flight. Launching a live animal into space — as the US and the Soviet Union did more than a half-century ago in the infancy of their programs — may boost a country's stature. With its ambitious aerospace program, Iran has said it wants to become a technological leader for the Islamic world. However, the mission also touched on concerns that advances in Iran's rocket expertise could be channeled into military use for long-range weapons that might one day carry nuclear warheads. Also, in June 2010, the Security Council banned Iran from pursuing "any activity related to ballistic missiles capable of delivering nuclear weapons."
• While India celebrates its near victory over polio, another dreaded disease, leprosy, that was overpowered in 2005 continues to haunt the government. Those affected by the disease continue to face social stigma and discrimination. Though in 2005 leprosy was eliminated (having less than 1 patient per 10,000 population), now it has the world’s highest burden of disease, accounting for close to 58 per cent of the cases in the world. Of the total of 1.26 lakh new cases deleted from record, a total of 1.16 lakh completed their treatment within the specified period. However, only 69.5 per cent people were able to complete their treatment in Delhi, 66.7 per cent in Tripura, 67.7 in Meghalaya and 32.4 per cent in Himachal Pradesh. The burden of the disease is highest among the Scheduled Castes (18.40 per cent) and Scheduled Tribes (15.83 per cent). Leprosy is a chronic infectious disease caused by Mycobacterium leprae. It usually affects the skin and peripheral nerves, but has a wide range of clinical manifestations. The disease is characterised by long incubation period generally 5-7 years and is classified as paucibacillary or multibacillary, depending on the bacillary load. Leprosy is a leading cause of permanent physical disability. Timely diagnosis and treatment of cases, before nerve damage occurred, is the most effective way of preventing disability due to leprosy. Under the 11th Five Year Plan, leprosy services were being provided through the PHC with general health staff. [InfoGraphic]
• The hiding place of dormant tuberculosis bacteria in humans has been finally found. The bacteria are present in a nonreplicating, dormant but viable state, and can get reactivated to cause active TB in people who have been successively treated earlier. Recurrence of TB after successful drug treatment remains a big challenge in controlling the disease. Several studies have shown that more than reinfection, it is the reactivation that causes disease recurrence. Hence management to prevent reactivation is essential. But the precise location where the bacteria hides was not known. But, no longer. [Read more]
• The ICC Women’s World Cup 2013 brings an array of top stars who have dominated the 50-over format by their sheer consistency. This is the third time India has been awarded the eight-team event and a number of new players have come into the spotlight after India last played host in 1997. India finished runner-up to Australia in the 2005 event held in South Africa and that has been its best in 40 years. Some Facts: [1.] The 20-year-old Singapore-born Lanning created an Australian record recently in the Rose Bowl LOI series played at Sydney against New Zealand. She scored the fastest 50 (23 balls) and 100 (45 balls) before being dismissed for a 50-ball 103 with 18 fours and three sixes; [2.] The 21-year-old Jamaican Stafanie was declared ICC women’s ODI cricketer last year. She scored 325 runs with a century and three half-centuries in the World Cup qualifier at Dhaka in November 2011. More recently Stafanie was the top scorer (178 runs) in the five-match, drawn 2-2 one-day series against South Africa. She also took eight wickets; [3.] The home team will lean heavily on captain Mithali (141 matches, 4490 runs at 48.27) and medium-pacer Jhulan Goswami (126 matches, 145 wkts at 21.87); [4.] Previous winners: [1.] 1973: England; [2.] 1978: Australia; [3.] 1982: Australia; [4.] 1988: Australia; [5.] 1993: England; [6.] 1997: Australia; [7.] 2000: New Zealand; [8.] 2005: Australia; [9.] 2009: England.
• Saurashtra’s inept display against the moving and lifting ball saw it capitulate in the post-tea session on the third day of the Ranji Trophy final as Mumbai won its 40th National title here on Monday. 
• World No. 2 Tiger Woods captured his 75th career golf title on Monday, winning the US PGA Farmers Insurance Open by four strokes for his record-setting eighth career triumph at Torrey Pines.
• Guinness Book of records holder Abhijit Baruah has the knack for breaking records and this time he went one up by breaking his own record of throwing 329 punches on a boxing pad in a minute. A martial arts expert, Abhijit has won numerous accolades in more than 10 different sporting categories, including boxing.