National Updates 28 June

National Updates 28.6.09 Posted: 28 Jun 2009 02:36 AM PDT June 18, 2009 Committee to review Coastal Security June 19, 2009: Navy seals 45,000-cr deal: seven warships June 20, 2009 : Sarod maestro Ali Akbar Khan passes away June 20, 2009: 797th Urs of Khawaja Moinuddin Chisty begins in Ajmer June 20, 2009 Andhra Pradesh 'e-parishakaram for speedy redressal of grievances June 21, 2009 : A committee headed by by K.V.L. Rao to suggest powerful engine for Jaguar June 22, 2009 Govt's approves Armed Forces Tribunal members' appointment June 22, 2009 Ashok Gehlot wants special status for Rajasthan June 22, 2009 : Indian Bans CPI (maoist) June 23, 2009 : Punjab Finalises 31 Biomass projects June 25, 2009 Class 10 board exams to be optional June 26, 2009 : 3rd East Asia Gender Equality Ministerial, Seoul June 18, 2009 Committee to review Coastal Security The Government has decided to set up a high-level committee headed by the Cabinet Secretary to regularly review the measures taken for coastal security. The decision to set up the committee was taken at a meeting chaired by the Defence Minister, Mr A. K. Antony on June 18, 2009. Issues Discussed: 1. Fixing transponders on certain categories of vessels, having a network of radars and other sensors along the coast for providing fool-proof surveillance. 2. By the end of next year 38 stations will get the cover of fool-proof surveillance in the first phase of the project, while rest of the stations will be covered in the second phase. 3. Navy and Coast Guards to optimally use their assets and forces to enhance coastal surveillance. June 19, 2009: Navy seals 45,000-cr deal: seven warships India has cleared its largest ever indigenous defence contract worth Rs 45,000 crore to manufacture seven advanced stealth frigates for the Navy at shipyards in Kolkata and Mumbai. The P17A warship project, which will be India’s most advanced and stealthy frigates, has been cleared by the Defence Acquisition Council (DAC). DAC has decided that all seven warships will be manufactured in India by the Mazagon Dock Limited, Mumbai (MDL) and the Garden Reach Shipbuilders and Engineers (GRSE), Kolkata. The

Defence Ministry has allocated a budget of Rs 45,000 crore for the project and the work will be divided between the two shipyards. The P17A frigates will be even more advanced than the P17 Shivalik class warships that are currently being inducted by the Navy. June 20, 2009 : Sarod maestro Ali Akbar Khan passes away Sarod maestro Ustad Ali Akbar Khan passed away in San Francisco in USA. He was 88. He was born on April 14, 1922 in Shibpur village of Comilla district, now in Bangladesh. Some Facts About Ali Akbar Khan: He was a recepient of Padma Bhushan and Padma Vibhushan (1989) Ustad Ali Akbar Khan has been designated a 'Living National Treasure' in India. He received the MacArthur Foundation Fellowship in 1991 He was nominated for Grammy Awards five times between 1970 to 1998. June 20, 2009 797th Urs of Khawaja Moinuddin Chisty begins in Ajmer Ajmer's famous annual Urs festival, dedicated to Sufi saint Hazrat Khawaja Moinuddin Hasan Chisty started on June 20, 2009. This is an annual ceremony which commences with the hoisting of the historical flag and a 21-gun salute at the Sufi saint's mausoleum. Flag is hoisted, on the Buland Darwaza (it is not the Buland Darwaja of Fatehpur Sikri, It is Buland Darwaja of the Majar in Ajmer) . The flag comes from Bhilwara and it denotes the faith of the devotees in the Dargah. Urs is observed to mark the death anniversary of the departed saint. Although it is an Islamic tradition, people of all faiths participate with equal reverence. About Moin-ud-din Chisti This Sufi saint Moin-ud-din Chisti, popularly known as 'Garib Nawaz' (Messiah of the poor), is believed to have born in 1142 AD and died in 1230 AD. Since his ancestors belonged to a town named Chisti, the devotees referred to him by that name. He is considered a descendent of Muhammad and is also known as Sultan -i Hind, Shaikh & Khalifa. He preached tolerance and unity of all religions, died in Ajmer where his tomb has become a shrine for millions of people from around the world. It was during the reign of Emperor Akbar (1556-1605) that Ajmer emerged as one of the most important centers of pilgrimage in India. Akbar undertook an unceremonial journey on foot to accomplish his wish to reach Ajmer. The Akbarnamah records that the Emperor’s interest first sparked when he heard some minstrels singing songs about the virtues of the Wali (Friend of God) who lay asleep in Ajmer.

note: A bomb had went off inside the complex on Thursday 11 October 2007 evening killing three people and injuring 17 others June 20, 2009 'e-parishakaram for speedy redressal of grievances East Godavari District in Andhra Pradesh is launching a new on line system e-parishakaram aimed at speedy redressel of the peoples' grievances. The first of its kind in the state, works as a single window at district, division and mandal levels for receiving and speedy redressel of grievances. June 21, 2009 : A committee headed by by K.V.L. Rao to suggest powerful engine for Jaguar The Indian Air Force has set up a committee to indicate which new engine will be suited to power India’s frontline but overweight and underpowered Jaguar tactical light strike fighter. This committe will be headed by K.V.L. Rao, an aero engine expert and former project director (propulsion systems) with the Aeronautical Development Agency Task of the committee: The task is to choose between proposals from Honeywell and Rolls Royce, both of which have replied to the request for proposal that was sent out as part of the Indian Air Force programme for new engines for Jaguar. This programme is related to acquisition of 280 engines, including spare engines for around 120 aircraft. Honeywell is offering its F125N, a 43.8 kilo Newton (kN) thrust engine, Rolls Royce, whose Adour Mk811 (32.5 kN) presently powers the IAF’s Jaguars, proposes its Adour Mk821 turbofan. Of 1970s vintage, the Anglo-French designed Jaguar has been with the IAF since 1979, when the first of the two twin-engine fighter aircraft landed in India. But from the beginning, the IAF, which has over 100 Jaguars — acquired either directly from BAE Systems or built under licence by Hindustan Aeronautics Limited — has persistently complained of a lack of thrust from the aircraft’s Rolls Royce / Turbomeca manufactured Mk804E or Rolls Royce Mk811 engines, especially during critical hot weather and high altitude missions. June 22, 2009 Govt's approves Armed Forces Tribunal members' appointment The Government has approved the appointment of eight judicial and 15 administrative members in the Armed Forces Tribunal for a period of four years to dispense cost effective and speedy justice to the armed forces personnel.

The appointed members will serve for a period of four years or till the age of 65 years, whichever is earlier and will be in the pay bracket of Rs 26,000 as per the Fifth Pay Commission. The judicial members of the tribunal include serving Justices Janardan Sahai, Manak Lall Mohta and Bhanwaroo Khan. About 9,000 cases, currently pending in various High courts across the country, will be transferred to the tribunal.This tribunal will be inaugurated by President Pratibha Patil by this year end. June 22, 2009 Ashok Gehlot wants special status for Rajasthan Rajasthan Chief Minister Ashok Gehlot has emphasized on his demand for special state status to the desert state in view of the peculiar geographical, social and economic circumstances and chronic drinking water crisis. This issue was raised by Chief Minister at Finance Ministers' meet in New Delhi. He was demanding special status to the state for drinking water. Mr Gehlot was leading the state officials team at the meeting, Finance Commission team was led by Chairman Dr Vijay Kelkar. About Drinking Water problem of Rajasthan: Rajasthan ccupies 10.4 per cent Geographical area of the country, of which more than 60 per cent area was desert and the availability of water was only 1.04 per cent of the total water of the country. Rajasthan is facing severe drinking water problem as only 32 blocks out of 232 blocks were considered safe. Rajasthan largely depends upon ground water & water mining in the state was 137 per cent, whereas it was only 47 per cent in Gujarat, 70 per cent in Uttar Pradesh, 45 per cent in Andhra Pradesh, 85 per cent in Tamilnadu and 48 per cent in Maharashtra. Rajasthan Govt. on June 19, 2009 has launched a "Harit Rajasthan" programme. This is a Chief Ministers flagship scheme envisages planting of over 30 lakh saplings on vacant land in schools, colleges, hospitals and government offices as well as in public parks and along the roadside and highways. What is watermining ? In hydrology, water mining is the extraction of water from non-replenishing groundwater or glacial reserves.The more is the figure in percentage , the more that particular place is exhausted of the water reserves. June 22, 2009 : Indian Bans CPI (maoist) The Union Government has decided to ban the Communist Party of India (Maoist), calling it as a terrorist organisation under the Unlawful Activity (Prevention) Act 1967. The Maoist organisation is banned by many states

including Andhra Pradesh and Chattisgarh and now the centre overrides the West Bengal government's decision not to ban the CPI-Maoist. Origin of CPI (Maoist) It was founded on September 21, 2004, through the merger of the Communist Party of India (Marxist-Leninist) People's War and the Maoist Communist Centre of India under the leadership of M Lakshman Rao alias Ganapati. Why they are called maoist? They belive that they are conducting 'people's war', a strategical line developed by Mao Zedong during the phase of guerrilla warfare of the Communist Party of China. They are reffred as Naxalites in reference to the Naxalbari insurrection by radical Maoists in West Bengal in 1967. They made their presence felt in strategic locations like Dandakaranya, parts of Vindhyas and Western Ghats from West Bengal to Karnataka calling it as a "Red Corridor" There are nearly 20,000-armed guerillas present in this 92,000 sq Kilometre stretch. In India , CPI (M) is now listed with thirty four other organisations including Lashker-e -Toiba,(LeT) and Students Islamic Movement of India (SIMI) as the terrorist organisation. June 23, 2009 : Punjab Finalises 31 Biomass projects: he Punjab Energy Development Agency (PEDA) has finalised the allocation of 31 biomass based-projects with aggregate capacity of 338 MW to private developers. These biomass-based power projects having capacity ranging from 5 MW to 20 MW each will be set up in 31 tehsils of the State on the basis of competitive bidding in line with the States, new and renewable sources of energy policy. June 25, 2009: Class 10 board exams to be optional The Minister of Human Resource Development, Mr Kapil Sibal has said that the Class 10 Board examinations should be made optional along with putting a grading system in place for Standard Nine and 10 in schools affiliated to the Central Board of Secondary Education. This is to de-traumatise education. He also proposed the formation of an autonomous overarching regulatory and assessment authority for higher education which would subsume the University Grants Commission, the All-India Council of Technical

Education and the Medical Council of India. This is in line with the recommendations of the Professor Yashpal Committee and the National Knowledge Commission. Also, there will be a review of the functioning of existing ‘deemed universities’. June 26, 2009 : 3rd East Asia Gender Equality Ministerial, Seoul Plenary Session of 3rd East Asia Gender Equality Ministerial meeting was held at Seoul. Union Minister for Women and Child Development Krishna Tirath has said that the Indian Government is making efforts to protect women from economic slow down and also enable them to uplift themselves. The Self help group movement is being strengthened further to mobilize more and more women for income generating activities with linkage to micro credit.

Current affairs : Awards Updates : 28.6.09 Posted: 28 Jun 2009 02:24 AM PDT June 24, 2009 : Sajjan Jindal Gets Willy Korf/Ken Iverson Steel Vision Award June 23, 2009 Pramod Joshua is winner of the MAK Rally of Coimbatore June 24, 2009 : Sajjan Jindal Gets Willy Korf/Ken Iverson Steel Vision Award Mr Sajjan Jindal, was awarded the 19th Willy Korf/Ken Iverson Steel Vision Award at the Steel Survival Strategies XXIV conference in New York for elevating JSW Steel to the select set of global producers. The award is named after Willy Korf and Ken Iverson who demonstrated vision, innovation and will power to alter the course of world steel. June 23, 2009 Pramod Joshua is winner of the MAK Rally of Coimbatore Pramod Joshua of TVS Racing, astride TVS Apache RTR, was declared the overall winner of the MAK Rally of Coimbatore, the first round of the Indian National Rally Championship for two-wheelers.Joshua led a TVS sweep as he clocked the fastest timings in all the six stages and won the 115 Kms rally with a total penalty of 01:22:49.

Current Affairs : International Updates 27.6.09 Posted: 26 Jun 2009 10:07 PM PDT June 20, 2009 : World hunger reaches 1 billion mark: United Nations 24 Jun 2009,World Bank approves $24 million loan to Sri Lanka June 24, 2009 : 150 years of the Red Cross

25 Jun 2009, China to build world's largest amphibious aircraft 25 Jun 2009, Taiwan legalizes prostitution 25 Jun 2009, Russia & Nigeria sign nuclear, gas pacts 27 Jun 2009,US announces shift in Afghanistan drug policy in presummit G8 conference on Afganistan in Italy 27 Jun 2009, UNESCO adds more sites to heritage list, two endangered June 27, 2009 : Lebanon's president names Hariri as premier June 27, 2009 : Under Nineteen World Cup shifted from Kenya to New Zealand June 26, 2009 Pop icon Michael Jackson dies at 50 25 Jun 2009, TV actress Farrah Fawcett dead at 62 June 20, 2009 : World hunger reaches 1 billion mark: United Nations Because of war, drought, political instability, high food prices and poverty, hunger compounded by financial meltdown the numbers of world's hungry is now record 1 billion, which means that every 1 in 6 people is affected as per Food and Agriculture Organization of the United Nations. The world's most populous region, Asia and the Pacific, has the largest number of hungry people - 642 million, up 10.5 percent from last year. SubSaharan Africa registers 265 million undernourished, an 11.8 percent increase. June 21, 2009 New York couple floats into zero-gravity nuptials New York City couple Erin Finnegan and Noah Fulmor floated into matrimony on June 21, 2009 thousands of feet (metres) above the Gulf of Mexico in what organizers said was the world's first weightless wedding held in zero gravity conditions. 24 Jun 2009,World Bank approves $24 million loan to Sri Lanka The World Bank has approved a $24 million IDA credit to Sri Lanka to help it provide health service delivery program, with particular emphasis on the special health needs in north and east arising out of the recent conflict with LTTE. Out of this, 12 million dollars will go to the Northern and Eastern Provinces to help the Sri Lankan government meet their special health needs arising from the conflict in the region. About 280,000 internally displaced persons (IDPs) currently reside in temporary camps in Sri Lanka. June 24, 2009 : 150 years of the Red Cross Tens of thousands of soldiers were wounded and killed during the fighting June 24, 1859, between Franco-Sardinian forces and Austrian troops, named as Battle of Solferino in northern Italy. This year marks the 150 years of Red Cross. Henri Dunant, a Swiss businessman who witnessed the battle and the

carnage, was moved by the lack of adequate medical care and began to help the soldiers and this was the birth of Red Cross. Dunant's idea from Solferino, to build neutral volunteer medical services to aid during wars, led to the creation of the Red Cross movement, which, 150 years later, boasts millions of workers and volunteers in more than 186 countries and territories, offering assistance in times of peace, conflict and natural disasters. At least 8,000 people took part in a torch-lit march on June 24, 2009 to mark the , the event that led to the creation of the Red Cross.The march was part of a week-long "humanitarian camp" the organisation set up, bringing together 500 youths from 149 national Red Cross and Red Crescent societies to come up with a 10-year global action plan for the world's largest humanitarian movement. 25 Jun 2009, China to build world's largest amphibious aircraft China will build the world's largest amphibious aircraft, as large as an Airbus A320, which could be used for tasks like emergency rescue and sea patrols. The development and production of the 'Dragon 600', intended to be the world's largest amphibious aircraft, has received government approval. 25 Jun 2009, Taiwan legalizes prostitution In response to sex workers’ demands, the government of Taiwan announced that prostitution was to be decriminalized. Taiwan has begun a process of legalising prostitution. Treating prostitution as a matter of human rights, the government concluded that punishing sexual transactions only forced them underground, leaving sex workers open to abuse.This will male island the latest place in the world to decriminalise the world’s oldest profession-prostitution. About 600,000 people are involved in sex-related jobs in Taiwan. Historically, prostitution had been legal and regulated by the government, but in 1974 the government stopped licensing new brothels, and in 1997, prostitution was declared illegal, although usually only the prostitute was prosecuted, not the customer, and prostitution remained widespread. 25 Jun 2009, Russia & Nigeria sign nuclear, gas pacts Russia & Nigeria have signed a raft of agreements to boost cooperation on oil, gas and nuclear energy during a historic visit to Africa's most populous nation Nigeria by the Russian President Dmitry Medvedev. 27 Jun 2009,US announces shift in Afghanistan drug policy in presummit G8 conference on Afganistan in Italy

In a pre-summit conference in Trieste, Italy bringing together the G8 and major states in the region including Pakistan, Saudi Arabia, the United Arab Emirates, Egypt and Turkey. The US envoy for Afghanistan, Richard Holbrooke,has said that US has announced a new drug policy for opium-rich Afghanistan, saying it was phasing out funding for eradication programs while significantly increasing its funding for alternate crop and drug interdiction efforts. Iran had been invited to attend the G-8 meeting on Afghanistan, because anti-drug efforts in Afghanistan have been identified as a key area where the United States and Iran can work together -- part of President Barack Obama's outreach effort. However Italy withdrew the invitation after Iran failed to respond and after its bloody post-election crackdown on protesters, which has sparked international condemnation. Italy's Foreign minister Franco Frattini of Italy is the current G-8 president. About Opium in Afganistan : 1. Afghanistan is the world's leading source of opium, cultivating 93% of the world's heroin-producing crop. 2. The United Nations has estimated the Taliban and other Afghan militants made $50 million to $70 million of last year's opium and heroin trade. 3. According to the UN report, opium poppy eradication reached a high in 2003, after the Taliban were ousted from power, with over 21,000 hectares (51,900 acres) eradicated. 4. In 2008, only 5,480 hectares (13,500 acres) were cut down compared with 19,047 hectares (47,000 acres) in 2007. 5. Afghan opium would kill 100,000 people this year in the parts of world where demand for heroin is highest: Europe, Russia and West Asia. 27 Jun 2009, UNESCO adds more sites to heritage list, two endangered UNESCO has put two natural sites, a coral reef in Belize and Los Katios National Park in Colombia, on its list of endangered world heritage. It was decided in the UN cultural agency's World Heritage Committee meeting in Seville, Spain. The committee removed the walled city of Baku from the endangered list. Problem of Coral reef in Belize: Belize Barrier Reef Reserve System was inscribed on the UNESCO World Heritage List in 1996 as the largest barrier reef in the northern hemisphere. Mangrove cutting and excessive development is the main problem of the Coral Reef. Problem of Los Katios National Park : The park is threatened by deforestation in areas inside and around the property due to the illegal

extraction of timber. It was inscribed in 1994 for its exceptional biological diversity It is also also suffering from illegal fishing and hunting June 27, 2009 : Lebanon's president names Hariri as premier Saad ed Deen Rafiq al-Hariri is a Lebanese-Saudi businessman and politician, and the second son of Rafiq Hariri, the assassinated former Prime Minister of Lebanon. After his father's death, he inherited the helm of the Movement of the Future, an essentially Sunni movement that was created and led by his father. Saad Hariri was designated on June 27, 2009 as Lebanon's new prime minister after his anti-Syrian coalition won the majority in parliament earlier this month. Hariri is to succeed outgoing Prime Minister Fouad Seniora, a member of Hariri's Future Current movement. June 27, 2009 : Under Nineteen World Cup shifted from Kenya to New Zealand The International Cricket Council (ICC) has decided to shift the 2010 Under-19 World Cup from Kenya to New Zealand due to the underpreparedness of the African nation. About U-19 World Cup : The ICC Under 19 Cricket World Cup is an international cricket tournament contested by national under-19 teams. The event was initially staged as a one-off event in Australia in 1988, and has been held every two years since 1998. India and U-19 World Cup: Indian won the world cup in 2000 & 2008. June 26, 2009 Pop icon Michael Jackson dies at 50 Michael Jackson, the king of pop died at UCLA Medical Centre in Los Angeles after suffering a cardiac arrest. He was preparing for his muchhyped 50-date comeback in London which were due to start on July 13. The singer, who was the seventh of nine children from a well-known musical family, debuted on the professional music scene at the age of 11 as a member of 'The Jackson 5', and began a solo career in 1971. Jackson was one of the few artists to have been inducted into the Rock and Roll Hall of Fame twice. His other achievements include multiple Guinness World Records, 13 Grammy awards and the sales of his over 750 million albums worldwide. Some of his albums: Off the Wall (1979), Thriller (1982), Bad (1987) Dangerous (1991)

In 1993, he was accused of child sexual abuse but could not be charged due to lack of evidence. In 2005, Jackson was tried and acquitted of further sexual abuse allegations and several other charges. 25 Jun 2009, TV actress Farrah Fawcett dead at 62 Actress Farrah Fawcett,who was best known for her role in television series "Charlie's Angels," has died. She was 62.

Current Affairs: Science, Technology & Environment: 27.6.09 Posted: 26 Jun 2009 10:07 PM PDT June 19, 2009 : Current carbon dioxide levels highest in past 2.1 mn years June 21, 2009: Duty cuts sought on cancer, AIDS medicines June 23, 2009 NASA's Cassini spacecraft captures never-before-seen images of Saturn June 23, 2009 : Ashoka education foundation world's first international environment Olympiad June 27, 2009 : Dutch firm launches pain-free cancer treatment in India June 19, 2009 : Current carbon dioxide levels highest in past 2.1 mn years Present day carbon dioxide levels in the atmosphere have touched the highest mark in the past 2.1 million years which may result in large scale climatic changes from the greenhouse effect, says a study published in the June 19 edition of the journal Science says the present levels of carbon dioxide are 38 per cent higher than the levels that hovered around 280 parts per million during last 2.1 million years. June 21, 2009: Duty cuts sought on cancer, AIDS medicines; The Department of Pharmaceuticals which was created in 2008 under the Ministry of Chemicals and Fertilizers, has sought an across-the-board cut in these critical segments cancer and AIDS medicines in the budget. Excise and customs duties on select drugs in these segments are already reduced or down to zero. It also requested the Ministry of Finance that weighted deduction on research be extended from 2010 to 2017. At present drug companies get 125 per cent weighted deduction on research outsourced to a third party and 150 per cent on in-house research. June 23, 2009 NASA's Cassini spacecraft captures never-before-seen images of Saturn The imaging science team on NASA's Cassini spacecraft has released neverbefore-seen images and movies from the planet Saturn. Thease images

include time-lapse sequences in which Saturnian moons eclipse each other and cast long shadows onto the planet's famous rings, represents. About the Mission: This is named as Equinox Mission,of Cassini a robotic explorer that has been orbiting Saturn since July 1, 2004. June 23, 2009 : Ashoka education foundation announces world's first international environment Olympiad With a view to enhance the awareness of the schools and students of the world, Dr. Jawahar Surisetti, director of Ashoka Education Foundation, in association with the American Center (the cultural wing of the US Consulate) have come together to devise an Olympiad which will reach the schools and students from classes 1 to 12. The Olympiad tests the awareness of the children about the environment and rewards them with the title of Earth Genius. The International Environment Olympiad is designed to involve the student, nudge their thought processes and force them to think about the world that they are going to inherit. Reliance Webworld is the Communications Partner for this event. The American Center provides expertise and resources to facilitate conduction of the Olympiad. The Olympiad is held for 3 levels, the primary level for classes 1to 4, the middle level for classes 5 to 8 and the secondary level for classes 9 to 12. The first round kicks of on the world ozone day, ie. 16th September 2009. June 27, 2009 Dutch firm launches pain-free cancer treatment in India Dutch pharmaceutical major Brema Pharma International has launched photodynamic therapy, a pain-free technique for treating cancer with lasers and light sensitive drugs, saying it will invest 1 million euros ($1.4 million) in its Indian operations. Presently this technique is used in every leading hospital of Europe and is recognised by all medical institutions. Brema Pharma has started its operations in a private skin hospital in Panchkula in Haryana. It will first treat skin cancer patients and will cover all cancer patients in the coming months. The Photodynamic therapy requires no cuts. It is pain-free and the recovery period is also very short.

India & World Updates: 27.6.09 Posted: 26 Jun 2009 10:06 PM PDT June 20, 2009: The safest country in the world - New Zealand , India on Bottom June 22, 2009 : India to sign labour agreement with Denmark June 22, 2009 : ISSA sets up office in Delhi

June 25, 2009 : India has 25% of world's highest paid expats June 26, 2009 : Gandhi statue unveiled in Leicester amid tight security June 27, 2009 : Pakistan SC rejects Indian prisoner Sarabjit's mercy petition. June 20, 2009 The safest countries in the world - New Zealand , India on Bottom The 2009 Global Peace Index ranks New Zealand as the safest country to live in. The survey gives New Zealand a very low score on the likelihood of violence and violent crimes. Its also scores very low on hostility to foreigners.Scandivanian countries top the list. The list has ranked 144 countries. Our nations is on number 122. Rank 1 : Newzealand Rank 2: Denmark & Norway Rank 4: Iceland Rank 5: Austria Rank 6 : Sweden Rank 7 : Japan (Highest ranked Asian Country) Rank 8 : Cananda (only north american country to hold a rank in top 10) Rank 9 : Finland Rank 10: Slovenia Rank 16 : Qatar Rank 21 : Oman (Oman & Qatar are highest ranked Arab Countries) Rank 19 : Australia Rank 18 : Switzwrland Rank 20 : Chilie Some Other Ranking Asian Countries: Bhutan Rank 40: Bhutan is the highest ranking South Asian country. Bhutan coined the concept of gross national happiness does well on human rights and boasts of low levels of violent crimes. China : Rank 74: The world's most populous nation, China is ranked at 74th by the index. While the Communist nation scores low on political rights and human rights, its does well on the development indicators and material well being. Nepal : Rank 77 Nepal went through political turmoil last year with the monarchy being abolished and an elected Communist government taking over. The political instability in the country continued following the hung Parliament.

However, Nepal's human development indicators have improved vastly in the last three years. India : 122 While the survey gave an encouraging 9.58 out of 10 to India for its electoral process, which provided many options and freedom to voters to exercise their franchise, it ranked the country at a disappointing 3.4 out of 10 in terms of the level of corruption prevalent. June 21, 2009 : India begins poverty alleviation project in China India has stepped into actual funding of a poverty alleviation project in China,the first-ever India funded project. It is a farmers’ training and information centre established in the relatively backward province of Ningxia. It was inaugurated by Nirupama Rao, Indian ambassador in China, and Wang Zhengwei, chairman of the Ningxia Hui Autonomous Region, in Liangtian township on Saturday. The NHAR is jointly funding the project with the Indian government. There is another project in China funded by India, which is an Indian style Buddhist temple close to the historic While Horse temple in Luoyang in Henan province. But this is the first opportunity for both Chinese and Indian officials to share experiences on poverty eradication. June 22, 2009: Developing countries' GDP to slow to 1.2%: World Bank The World Bank has estimated economic growth in developing countries of 1.2% this year (without China and India, output would shrink 1.6%. ) China's economy was forecast to expand 7.2% in 2009 and 7.7% in 2010, while India's forecast was for 5.1% followed by 8.0%. The latest World Bank forecasts on gross domestic product (GDP) -- a measure of goods and services output in a country -- came in a report, "Global Development Finance 2009: Charting a Global Recovery. This report was published in co incidence with a three-day Annual Bank Conference on Development Economics June 22, 2009 India to sign labour agreement with Denmark India will sign a labour agreement with Denmark as part of the Governments effort to explore employment opportunities in European countries for skilled and semi-skilled Indian workers. Union Minister of Overseas Indian Affairs Vayalar Ravi has said that the Indian Government was planning to sign such agreements with other European countries to boost the employment opportunities for skilled and semi-skilled workers in the country. June 22, 2009 ISSA sets up office in Delhi

Sub-Regional Liaison Office for the International Social Security Association (ISSA) South Asia opened in New Delhi. About ISSA : Founded in 1927, the International Social Security Association is a global organisation whose members are from national social security administrations and agencies of different countries throughout the world. ISSAs main office is located at the International Labour Organisation (ILO) headquarters in Geneva, Switzerland. The office in Delhi will cover member organisations from Bhutan, Iran, Nepal, Pakistan and Sri Lanka, apart from India. The ESI Corporation (ESIC) has been a member of the ISSA since the early 60s. ISSA has active members in 144 countries and is at present running nearly 344 social security schemes. June 25, 2009 : India has 25% of world's highest paid expats Asian countries are home to some of the wealthiest expatriates in the world and about 25 per cent of the highest paid foreign assignees' prefer to live in India, as per a report named 2009 Expat Explorer Survey by HSBC Bank International. The highest proportion of expats earning more than $250,000 are in Hong Kong (27 per cent), Japan (26 per cent) and India (25 per cent) compared with a global average of 16 per cent. June 26, 2009 : Gandhi statue unveiled in Leicester amid tight security A large statue of Mahatma Gandhi was unveiled in Leicester by the British home minister amid tight security after internet protesters warned it could be defaced. June 26, 2009 : World Bank approves credit of $100 million for Madhya Pradesh The World Bank has approved a 100 million dollar International Development Association(IDA) credit to India, designed to address rural poverty in Madhya Pradesh. Madhya Pradesh had launched Madhya Pradesh District Poverty Initiatives Project (MPDPIP) which was approved by the World Bank in 2000, which covered over 2,900 villages spread across 14 districts. It has helped organise some 325,000 poor rural households into over 52,000 Common Interest Groups (CIGs), providing them with financial and technical assistance. As per World Bank, this project has achieved some very impressive results. The amount of $ 100 million is for the Second Madhya Pradesh District Poverty Initiatives Project (MPDPIP-II). The credit from the IDA, the World Banks concessionary lending arm, carries a 0.75 per cent service fee, a 10year grace period and a maturity of 35 years.

This project MDPPIP-II is designed to empower the poor by organising them into Self Help Groups (SHGs) and facilitate their federation into cluster level organisations, to enable them to access higher value markets, formal financial intermediaries, among other things. It will develop the capacity of SHGs to start or enhance their livelihoods activities and strengthen their business operations through producer based federations, companies and cooperatives. June 27, 2009 : Pakistan SC rejects Indian prisoner Sarabjit's mercy petition. The fate of Indian prisoner Sarabjit Singh hung by a slender thread as Pakistan's Supreme Court on Wednesday dismissed his review petition challenging the death sentence handed out to him in 1991, leaving him at the mercy of a presidential pardon by Asif Ali Zardari. Sarabjit is being convicted for alleged involvement in four bomb blasts in Lahore in 1990 that killed 14 people in Pakistan by an anti-terrorism court in 1991.

Finance & Economy Current Affairs Update: 28.6.09 Posted: 26 Jun 2009 10:06 PM PDT June 19, 2009:Govt looking at proposal to divest 10% in BHEL June 19, 2009 :TCS opens new center in Mexico June 20, 2009 :India-Britain trade could reach $40 bn by 2015 21 Jun 2009: Apparel exports fell by 10 per cent in April June 21, 2009: PSEB ranked third among 33 power utilities June 24 , 2009 : GAIL to invest Rs 7,600-crore for 2 pipeline projects for karnataka June 25, 2009 : Amul ranked amongst top 21 dairy businesses of the world June 26, 2009 : Cane support price raised to Rs 107.76 a quintal June 27, 2009 : Indra Nooyi, Shantanu Narayen named among America's "25 Top Gun CEOs" June 28, 2009 : LIC will invest Rs. 50000 crore in equities in Fy'10 June 19: Govt looking at proposal to divest 10% in BHEL Minister for Heavy Industries and Public Enterprises, Mr Vilasrao Deshmukh has said that the Government is considering the proposal to divest 10 per cent stake in Bharat Heavy Electricals Ltd. The Government at present holds a 67.72 per cent equity stake in the state owned enterprise. The stake sale could bring into the company’s kitty about Rs 9,600 crore based on the company’s current market price. He also said that the Government was also considering stake sale in other public enterprises such as the lossmaking Tide Water Oil (India) Ltd, Tyre Corp. of India, Andrew Yule & Co Ltd.

June 19, 2009 TCS opens new center in Mexico Tata Consultancy Services, India's largest outsourcing firm, has opened a new center in Queretaro, Mexico. TCS would hire 500 people to work at the new center, its third in Mexico since entering the country in 2003. The company has seven centers across Latin America, in Brazil, Argentina, Uruguay, and Chile, as well as Mexico, and employs information technology consultants in 42 countries around the world. June 20, 2009 : CII India Business Forum-UK As per a report by the Confederation of Indian Industry (CII) "Bilateral trade between India and Britain, which crossed $12 billion during last fiscal year , has the potential to touch $40 bn by 2015. CII president Venu Srinivasan was leading the CII India Business Forum-UK to britain June 21-23. The 16member delegation focussed on taking India-Britain ties into a strategic direction, uncovering new avenues of collaboration, and addressing issues of global concern such as regulation of the financial system, climate change and security. 21 Jun 2009: Apparel exports fell by 10 per cent in April Garment exports from the country dropped to USD 800 million in April this fiscal from USD 886 million in the same month of 2007-08 as per the data of Apparel Export Promotion Council. June 21, 2009: PSEB ranked third among 33 power utilities Punjab State Electricity Board (PSEB) has been ranked third among 33 power utilities in 14 States, according to the Quarterly Performance Report of the State Power Utilities (SPUs) framed by the Power Finance Corporation for the quarter ended December 2008. Union Bank of India cuts BPLR by 25 bps to 11.75% Union Bank of India has decided to cut its benchmark prime lending rate (BPLR) by 25 basis points to 11.75 per cent, with effect from July 1. This is the fifth successive reduction since November 2008. Till now, the Bank has reduced a total of 225 bps in BPLR. June 24 , 2009 : GAIL approved a Rs 7,600-crore investment for two pipeline projects for karnataka The board of the public sector GAIL (India) Ltd has approved a Rs 7,600crore investment for two pipeline projects linking Karnataka to the National Gas Grid. The projects include linking both Kochi and Dabhol to Bangalore. GAIL has a pipeline infrastructure of 7,000 km in the country.

June 25, 2009 : Amul ranked amongst top 21 dairy businesses of the world Amul has been ranked amongst the top 21 largest dairy businesses in the world as per the findings published by International Farm Comparison Network (IFCN) at the 10th IFCN Dairy Conference 2009 at Stockholm. Amul is on Rank 21 World based on the milk intake during the year 2007. However due to growth in last two years Amul rank could have been 16 in the current year . About IFCN: The IFCN is a network of dairy researchers responsible for analysing global dairy trends and creating knowledge to guide the various stakeholders in the dairy sector covering about 80 countries, over 60 dairy related companies, a number of dairy related institutions and dairy farmers. It publishes "IFCN Dairy Report" every year. About India's Milk Production: India with its milk production touching 114.4 Million MTs during the year (under review) is the largest milk producer in the World. The second and third ranks are of USA and Germany with 79.3 Million MTs and 39.4 Million MTs respectively This is because of the White Revolution pioneered by Amul. About White Revolution & Operation Flood: Operation Flood was a rural development programme started by India's National Dairy Development Board (NDDB) in 1970. Amul was the engine behind the success of Operation Flood and in turn became a mega company based on the cooperative approach. Verghese Kurien who was chairman of NDDB at that time gave the professional management skills and necessary thrust to the cooperative, and is considered the architect of India's 'White Revolution' (Operation Flood). His work has been recognised by the award of a Padma Bhushan, the Ramon Magsaysay Award for Community Leadership, the Carnegie-Wateler World Peace Prize, and the World Food Prize. One of the largest of its kind, the programme objective was to create a nationwide milk grid. June 26, 2009 Cane support price raised to Rs 107.76 a quintal The govt. has approved an almost one-third increase in the statutory minimum price (SMP) of sugarcane from Rs 81.18 to Rs 107.76 a quintal to be payable by mills in the forthcoming 2009-10 crushing season (OctoberSeptember). read about minimum support prices June 27, 2009 Indra Nooyi, Shantanu Narayen named among America's "25 Top Gun CEOs" Indra Nooyi of PepsiCo and Shantanu Narayen of Adobe Systems, have been named among America's "25 Top Gun CEOs" who put their companies

on the path to success in the midst of a recession.Nooyi ranked no. 17 and Narayen ranked no. 16 in the list picked up by advisory agency Brendan Wood International. June 28, 2009 : LIC will invest Rs. 50000 crore in equities in Fy'10 LIC has announced that it would invest about 50,000 crore rupees in the equity market during this financial year 2010. LIC had invested 40800 crore last year. Thomas Mathew who is MD of Life Insurance Corporation of India made this announcement.