Current Affairs for BANK, IBPS Exams 03 July 2016

Current Affairs for BANK, IBPS Exams

03 July 2016

:: National ::

Terrorists attack in Bangladesh

A group of hostage-takers killed 20 people, hacking many of them to death, in an upmarket café in Dhaka before Bangladesh commandos stormed the restaurant, killing six gunmen and capturing one alive.
Thirteen hostages, including one Japanese and two Sri Lankans, were rescued, army officials said.
The Islamic State has claimed responsibility for the carnage at Holey Artisan Bakery in Dhaka’s high security diplomatic zone.
The siege of the café lasted nearly 10 hours. AFP reported that all 20 victims were foreigners, including Japanese and Italians. An Indian was also among the dead.
The IS claimed responsibility through its Amaq news agency. Five hours into the crisis, the agency said 24 people were killed in the attack and 40 others injured.
Reuters reported that Amaq posted photos supposedly provided by the IS, which showed bodies of the victims soaked in blood. Some reports said al-Qaeda in the Indian Sub-continent had also claimed responsibility.

Loss-making PSU's to be considered for closure and strategic disinvestment

An inter-ministerial meeting of secretaries will shortlist loss-making and sick government companies to be considered for closure and strategic disinvestment from a list the NITI Aayog submitted to PMO.
The meeting will recommend strategic disinvestment only in non-contentious government companies.
Air-India, which is now reporting operating profits, and BSNL, among the top three loss-making public sector units, will not be considered.
The plan is to start with the low-hanging fruit, where least resistance is expected from the Opposition and the employees, and gradually build momentum.
Candidates are likely to be picked from among the state-owned companies in the cement, salt, textiles, paper and antibiotics sectors, since there was no reason for government presence in these businesses.

India revived proposal for Comprehensive Convention on International Terrorism

India has revived its two decade old proposal for the adoption of the Comprehensive Convention on International Terrorism at the UN General Assembly, given the recent spate of terror attacks across the globe.
India has been trying to build convergence around the CCIT, pending since 1996, so that we can plug an important legal lacuna in the fight against terror.
India has been able to complete a draft which effectively counters the opposition from the three main blocs that have raised objections: the U.S., the Organisation of Islamic Countries and the Latin American countries.
The original draft that was tabled in 1996 and discussed until April 2013 includes amongst key objectives: to have a universal definition of terrorism that all 193-members of the UNGA will adopt into their own criminal law, to ban all terror groups and shut down terror camps regardless of their stated objectives, to prosecute all terrorists under special laws, and to make cross-border terrorism an extraditable offence worldwide.
The most powerful objector, the U.S. has been worried about the application of the CCIT to its own military forces especially with regard to interventions in Afghanistan and Iraq.
Significantly, despite the current impasse over the NSG, China, that recently blocked India’s moves for a UN ban on Jaish-e-Mohammad chief Masood Azhar, is not expected to pose hurdles for the CCIT.
Officials however, warned that Pakistan and a few other countries would most probably oppose India’s move to the hilt.

:: International ::

Bangladesh says it will remove the terrorists

Bangladesh Prime Minister Sheikh Hasina said on Saturday that her government was determined to “root out terrorism and militancy” from the country.
The Prime Minister also thanked all security personnel involved in the “successful” raid at the Holey Artisan Bakery in Dhaka’s high-security diplomatic enclave.
The siege began on Friday when seven gunmen stormed into the Holey Artisan Bakery. They shouted ‘Allahu Akbar’ on their way in and started firing blanks, according to the police and the restaurant’s supervisor.
Meanwhile, the U.S. State Department said it “cannot yet confirm” whether the IS was behind the siege.
The Department, however, confirmed that one American citizen was among those killed.
Italian Foreign Minister Paolo Gentiloni released a statement saying that nine Italians were killed in the attack and a 10th was missing, while the Japanese government confirmed seven of its citizens had died.
The attack follows a series of killings targeting religious minorities, foreigners, secularists and liberal activists.
The café attack is by far the deadliest of the recent wave of killings claimed by the IS or a local Al-Qaeda offshoot.
But the government of Ms. Hasina has always rejected IS or Qaeda presence in the country and has blamed local groups for jihadist violence.
Last month authorities launched a nationwide crackdown on local jihadist groups, arresting more than 11,000 people, under pressure to act on the spate of killings.

Democrats will continue to invest in a long-term strategic partnership with India

Reiterating America’s leadership role in the world, and rebuking Republican presidential candidate Donald Trump’s statements, the Democratic Party said it would be “a dangerous mistake for America to abandon our responsibilities.”
We cannot, as Donald Trump suggests, cede the mantle of leadership for global peace and security to others who will not have our best interests in mind.
Senator Bernie Sanders, who is pushing for radical changes on issues such as trade and universal health care, has said he is only partially satisfied with the draft.
Discussing India in the context of Asia-Pacific, the document acknowledged India as the “the world’s largest democracy, a nation of great diversity, and an important Pacific power.”
“We will work with our allies and partners to fortify regional institutions and norms as well as protect freedom of the seas in the South China Sea. We will push back against North Korean aggression and press China to play by the rules.
Among other things, the platform also reiterates its support for Israel and Jerusalem as its capital, and calls for a two-state solution.
Haibatullah Akhundzada called on the USA to end its “occupation” of Afghanistan
New Taliban leader Haibatullah Akhundzada called on the Untied States on Saturday to end its “occupation” of Afghanistan in his first message since being appointed the militant group’s chief.
The message was released to mark the upcoming festival of Eid and comes two days after Taliban-claimed suicide blasts, targeting a convoy of buses transporting Afghan police cadets in Kabul, killed over 30 people and wounded more than 70.
“Admit the realities instead of useless use of force and muscle... and put an end to the occupation,” Akhundzada said.

Haibatullah Akhundzada called on the USA to end its “occupation” of Afghanistan

New Taliban leader Haibatullah Akhundzada called on the Untied States on Saturday to end its “occupation” of Afghanistan in his first message since being appointed the militant group’s chief.
The message was released to mark the upcoming festival of Eid and comes two days after Taliban-claimed suicide blasts, targeting a convoy of buses transporting Afghan police cadets in Kabul, killed over 30 people and wounded more than 70.
“Admit the realities instead of useless use of force and muscle... and put an end to the occupation,” Akhundzada said.

:: Business and Economy ::

Brexit likely to keep gold price high

Gold prices likely to move up further in the current calendar year owing to uncertainties in the global markets as U.K. voted to exit from the European Union.
Gold prices shot up to its highest level in three years, in the aftermath of the Brexit referendum, as investors rushed to grab safer assets, leaving equities and other risk assets, which were already facing selling pressure.
The prices of gold hit a three-year peak at around $1,355 per ounce on June 23, and hovering between $1310 and 1,320 per ounce in the international market currently.
The risk to reward ratio currently is not favourable for long trades. However in the short term there is possibility for higher levels but soon the gold price will try to catch up with the lower end of the trading band.
In a statement issued last Friday, the World Gold Council (WGC) said that it expects to see strong and sustained inflows into the gold market driven by the staggering level of protracted uncertainty that investors are facing.
WGC predicted that purchases of gold coins by small retail investors, which were already up sharply in the months running up to the vote (Brexit), should accelerate further.

571 budding entrepreneurs wants tax breaks for start-ups

As many as 571 budding entrepreneurs have filed applications as on June 24 with the Department of Industrial Policy and Promotion (DIPP) for recognition as innovative startups to avail tax breaks and other benefits.
Out of these, only 12 are eligible for consideration by the inter-ministerial board for tax benefits. Startup India is an initiative of the DIPP.
Seven have submitted all documents and are eligible for Startup India benefits and tax exemption and 106 have submitted all documents but are not eligible for tax exemptions, it said.
The inter-ministerial board validates the innovative nature of the business for granting tax related benefits.
In January, PM unveiled a slew of incentives to boost start-up businesses, offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs.10,000 crore corpus to fund them.
India has the third-largest number of start-ups globally.
To boost financing, a 20 per cent tax on capital gains made on investments by entrepreneurs after selling own assets as well as government-recognised venture capitalists is also exempted.

:: Sports ::

Sam Querrey beats Djokovic

Novak Djokovic was sent crashing out of Wimbledon by big-serving Sam Querrey on Saturday, shattering the World No.1’s hopes of securing the first calendar Grand Slam in 47 years.
The 7-6(6), 6-1, 3-6, 7-6(5) defeat ended Djokovic’s Open era record run of 30 successive wins at the Majors, and his streak of having reached 28 consecutive Grand Slam quarterfinals.
It was his first loss before the quarterfinal of a Grand Slam tournament since 2009 when he bowed out in the third round at Roland Garros.