June 21, 2018

WORD OF THE DAY

DIVIDEND STRIPPING

This is a tax saving strategy wherein investors buy a stock just before dividend payment and sell it thereafter. Share prices generally fall after dividend payment, when a stock starts trading ‘ex-dividend’. This lets investors book a short term ‘loss’ and reduce their tax burden.

Courtesy: Mint

 

NATIONAL NEWS

  1. India and Australia held the 10th Meeting of the Joint Working Group on Counter-Terrorism at New Delhi.
    • They discussed terrorist threats in their respective regions including the problem of cross-border terrorism in the Af-Pak region.
  1. The world’s first International Centre for Humanitarian Forensics was launched in Gandhinagar, Gujarat.
    • It will work on proper management of dead bodies in times of emergencies and their identification.
  1. 7th India Minerals and Metals forum was inaugurated in New Delhi.
    • The forum seeks to come up with solutions to consolidate small players for strengthening of overall health of the industry.
  1. The Ministry of New and Renewable Energy (MNRE) has declared medium- and long-term targets 5 GW by 2022 and 30 GW by 2030 for offshore wind power capacity addition.
    • India has an onshore wind target of 60 GW and its achievement of 34 GW and solar target of 100 GW by 2022.

 

  1. The Gujarat government announced ‘Wind-Solar Hybrid Power Policy-2018’ to encourage setting up of wind and solar power projects at one location.
    • The Policy will act in for 5 years.
    • As per the policy, developers can establish wind energy units on the land currently used for solar power units.
    • 50% exemption from electricity duty is entitled for selling the power to a third party.
  1. The Union Commerce Ministry to set up a special cell for turmeric in Nizamabad, Telangana.
    • This would help improve the content of ‘curcumin’, the naturally occurring chemical compound found in turmeric, which will provide better price for the crop and also enhance the export potential.
  1. Union Minister of State for Home Affairs, Shri Hansraj Gangaram Ahir inaugurated the 19th All India Conference of Directors of Finger Prints Bureau in Hyderabad.
    • It will be a 2day conference on Automatic Fingerprint Identification Systems (AFIS), usage experience of AFIS in Maharashtra and Telangana, integration of Finger Prints with CCTNS/ICJS.
    • Two books entitled ‘Compendium of Fingerprint equipment 2018”‘Award of excellence in FP identification / science competition – compilation of cases’ were released during the Conference.
  1. The Kerala Government launched an ambitious micro-finance programme in the co-operative sector.
    • To help ordinary people who are being exploited by private financiers charging exorbitant interest rates for loans.
    • They have launched the proposed scheme, titled ‘Muttathe Mulla’.
  1. Under the India Smart Cities Awards, nine awards in three categories, e., Project Award, Innovative Idea Award and City Award had been announced.
    • The city award is being given to Surat for showing great momentum in implementation of projects especially in the categories of urban environment, transport and mobility and sustainable integrated development.
    • Joint winners in this category are Bhopal for their Integrated Command and Control Centre (ICCC) and Ahmedabad for Safe and Secure Ahmedabad (SASA) Project (Innovative Award).

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INTERNATIONAL NEWS

  1. The annual nuclear forces data has been released by Stockholm International Peace Research Institute (SIPRI).
    • As per the report, Pakistan remains ahead of India in possessing nuclear warheads.
    • China has double the quantity.
    • Pakistan is said to possess 140-150 nuclear warheads this year.
    • India is said to have 130-140 nuclear warheads.
  2. Nikki Haley, the US envoy to the UNannounced that United States has resigned UN Human Rights Council.
    • The US cited the UNHRC’s admission of nations with questionable human rights records as the reason to quit.
  1. The finance ministry announced that India has hiked customs duty on several goods, including Bengal gram, lentils and artemia, imported from the US.
    • The move was against the duty hike by the US on certain steel and aluminium products which had tariff implication of $241 million on India.

Products

Increased rate

Chickpeas and Bengal gram

60%

Lentils

30%

Boric Acid and binders

7.5%

Domestic reagents

10%

Artemia ( a kind of shrimp)

15%

  • India has excluded motorbikes above 800 cc.
  1. The PepsiCo Foundation announced a USD 4.26 million grant to an international non-profit organisation WaterAid to provide safe water access to communities in Karnataka, Andhra Pradesh and Kerala by December 2020.
    • This adds to the USD 17 million that the Foundation has made in India to date.

 

APPOINTMENTS

  1. Armstrong Changsan was appointed as the next Ambassador of India to the Republic of Iceland.

 


IMPORTANT DAYS

  1. On 21st June 2018, World Music Day was celebrated all over the world.
    • World Music Day is also known as Fête de la Musiqueor Make Music Day.
  2. On 21st June 2018, 4th International Yoga Day was celebrated all over the world.
    • Theme – Yoga for Peace

 

SPORTS

  1. Indian cricketer Shikhar Dhawan has improved 10 places and reached his career-best 24th spot.

 

MISCELLANEOUS

  1. Australian golfer Peter Thomson, passed away.
    • The World Golf Hall of Fame named him “the thinking man’s golfer.

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