World Affairs

Indian Technical and Economic Cooperation (ITEC) ...................................................... 1

World Conference on Tourism and Culture .................................................................. 2

International Year of Sustainable Tourism for Development ......................................... 2

Asian Infrastructure Investment Bank ........................................................................... 2

2+2 dialogue process .................................................................................................... 3

Economy

National Highway Authority of India ............................................................................. 3

Blue Chip Companies .................................................................................................... 4

Science and Technology

Juno Mission ................................................................................................................. 4

Also in news

Hezabollah .................................................................................................................... 5

Tuberculosis .................................................................................................................. 5

1. WORLD AFFAIRS 1.1. INDIAN TECHNICAL AND ECONOMIC COOPERATION (ITEC)

Why in news?

India had increased training slots under Indian Technical and Economic Cooperation (ITEC)

Programme from 200 to 310 annually to Nigeria, which also include short-term training

programmes in agriculture and allied sectors.

More about ITEC

The ITEC Programme, fully funded by the Government of India and its sister

programme SCAAP (Special Commonwealth African Assistance

Programme), facilitate the development of 161 countries in Asia, Africa, East

Europe, Latin America, the Caribbean as well as Pacific and Small Island

countries.

These countries are invited to share in the Indian developmental experience through

different initiatives.

The ITEC/SCAAP Programme has the following components :

o Training (civilian and defence) in India of nominees from ITEC partner

countries

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TPS 18 DAILY CURRENT AFFAIRS Date: 13-12-2017

o Projects and project related activities such as feasibility studies and

consultancy services

o Deputation of Indian experts abroad

o Study Tours

o Gifts/Donations of equipment at the request of ITEC partner countries

o Aid for Disaster Relief.

The ITEC Programme is essentially bilateral in nature. However, in recent years,

ITEC resources have also been used for cooperation programmes conceived in

regional and inter-regional context.

Ministry of External Affairs oversee the program.

1.2. WORLD CONFERENCE ON TOURISM AND CULTURE

Why in news?

UN World Tourism Organization/UNESCO organized the World Conference on Tourism and

Culture in Muscat (Capital City of Oman), with focus on sustainable development.

More about the Conference

The conference aims to bring together Ministers of Tourism and Ministers of Culture as

well as private sector stakeholders and experts with the objective of building and

strengthening partnerships between the Tourism and Culture sectors and enhance their

role in the UN’s 2030 Agenda for Sustainable Development.

This Conference is a sequel to the First UNWTO/UNESCO World Conference on

Tourism and Culture, held in Siem Reap, Cambodia in February 2015

In this context, the second UNWTO/UNESCO World

Conference on Tourism and Culture features prominently

as one of the official events on the calendar of activities of

the International Year of Sustainable Tourism for

Development.

1.3. INTERNATIONAL YEAR OF SUSTAINABLE TOURISM FOR DEVELOPMENT

2017 was declared as the International Year of Sustainable Tourism for Development

by the United Nations General Assembly in 2015 relating to sustainable tourism

toward Sustainable Development Goals.

The World Tourism Organization (UNWTO), the United Nations Specialized

Agency for Tourism, has been mandated to facilitate the organization and

implementation of the International Year.

1.4. ASIAN INFRASTRUCTURE INVESTMENT BANK

Why in news?

India to host 3rd Annual Meeting of Board of Governors of Asian Infrastructure

Investment Bank. 2018 Annual Meeting theme is - Mobilizing Finance for Infrastructure:

Innovation and Collaboration.

More about AIIB

AIIB is a multilateral development bank (MDB) designed to provide financial

support for infrastructure development and regional connectivity in the Asia-Pacific

region.

The bank was proposed by China in 2013 and the initiative was launched at a

ceremony in Beijing in October 2014.

Nature of the Loan

AIIB offers sovereign and non-sovereign finance for sound and sustainable

projects in energy and power, transportation and telecommunications, rural

infrastructure and agriculture development, water supply and sanitation,

environmental protection, urban development and logistics.

Governance

All powers of the Bank are vested in our Board of Governors, which is the highest

decision-making body under the Bank’s Articles of Agreement.

The authorised capital of AIIB is $100 billion. It is equivalent to  2⁄3 of the capital of

the Asian Development Bank and about half that of the World Bank.

AIIB’s headquarters is in Beijing.

India is the second largest shareholder in the Bank after China.

Members' voting power is the sum of their Basic Votes, Share Votes and

where applicable, Founding Member Votes.

Membership

AIIB welcomes all regional and non-regional countries, developing and

developed countries, to become its members and to contribute to Asian

infrastructure development and regional connectivity.

The bank currently has 56 member states.

Major economies that are not members include Japan and the United States.

Please don’t get confused with the New Development Bank BRICS (NDB BRICS).

1.5. 2+2 DIALOGUE PROCESS

Why in news?

Continuing with the strategic bilateral discussion, Australia and India underlined the need

to maintain the Asia­Pacifc region as a “free” and “open” zone under the “2+2” dialogue

model. The discussion was the first 2+2 dialogue between India and Australia.

More about 2+2 dialogue

“2+2” dialogue model includes the foreign and defence secretaries of both sides.

India employs the 2 + 2 format only with Japan other than Australia.

The ‘2+2 dialogue’ format was first proposed by then Australian Prime Minister Tony

Abbott during his 2014 India visit.

2. ECONOMY 2.1. NATIONAL HIGHWAY AUTHORITY OF INDIA

Why in news?

NHAI making all out efforts to speed up award and construction of highways.

More about NHAI

The National Highways Authority of India was constituted by an act of

Parliament, the National Highways Authority of India Act, 1988.

It is responsible for the development, maintenance and management of

National Highways.

The total length of NH (including expressways) in the country at present is

1,00,087.08 kms. While Highways/Expressways constitute only about 1.7% of the

length of all roads, they carry about 40% of the road traffic.

National Highways Authority of India (NHAI) is mandated to implement National

Highways Development Project (NHDP) which is India’s Largest ever highways

project.

2.2. BLUE CHIP COMPANIES

Why in news?

The Securities and Exchange Board of India (SEBI) is probing whether some individuals

were allegedly leaking price­sensitive information, related to blue chip companies to a

select group through social media.

What are blue chip companies?

A blue chip is a nationally recognized, well-established, and financially sound

company.

Blue chips generally sell high-quality, widely accepted products and services.

A blue chip company can be a multinational firm that has been in operation for a

number of years. Examples can be Tata Consultancy Services, Bharti Airtel Limited,

ITC, Coal India, HDFC Bank etc.

Blue chip stocks are seen as a less volatile investments than owning shares in

companies without blue chip status because blue chips have an institutional status in

the economy.

Blue chip companies are also characterized as having little to no debt, large market

capitalization, stable debt-to-equity ratio, and high return on equity (ROE).

3. SCIENCE AND TECHNOLOGY 3.1. JUNO MISSION

Why in news?

According to data collected by NASA’s Juno spacecraft, Scientists have found that the

Jupiter’s Great Red Spot, the solar system’s most famous storm, is almost one­and­a half

times wider than the earth and penetrates about 300 km into the gas giant’s atmosphere.

More about the findings

Juno found that the Great Red Spot’s roots go 50 to 100 times deeper than the earth’s

oceans and are warmer at the base than they are at the top.

Other revelations from the mission include that Jupiter has two previously uncharted

radiation zones.

What is Great Red Spot?

Jupiter’s Great Red Spot is a giant oval of crimson­coloured clouds in Jupiter’s

southern hemisphere that race counter­clockwise around the oval’s perimeter with

wind speeds greater than any storm on the earth.

More about the Juno Mission

Juno is a NASA space probe orbiting the planet Jupiter.

It is launched in August 2011 and arrived at Jupiter orbit in October 2016.

Juno is the second spacecraft to orbit Jupiter, after the nuclear powered Galileo

orbiter, which orbited from 1995 to 2003.

The Juno mission is also the second spacecraft designed under NASA's New Frontiers

Program. The first is the Pluto New Horizons mission, which flew by the dwarf planet

in July 2015 after a nine-and-a-half-year flight.

Unlike all earlier spacecraft sent to the outer planets, Juno is powered only by solar

arrays, commonly used by satellites orbiting Earth and working in the inner Solar

System, whereas radioisotope thermoelectric generators are commonly used for

missions to the outer Solar System and beyond.

The purpose of Juno Mission

Determine how much water is in Jupiter's atmosphere, which helps determine which

planet formation theory is correct (or if new theories are needed).

Look deep into Jupiter's atmosphere to measure composition, temperature, cloud

motions and other properties.

Map Jupiter's magnetic and gravity fields, revealing the planet's deep structure

Explore and study Jupiter's magnetosphere near the planet's poles, especially the

auroras – Jupiter's northern and southern lights – providing new insights about how

the planet's enormous magnetic force field affects its atmosphere.

4. ALSO IN NEWS 4.1. HEZABOLLAH

The leader of the Lebanese militant group Hezbollah vowed to return the group’s focus to

fighting Israel after years of battling rebels in neighbouring Syria.

Read more in Neo IAS November 12th Current Affairs.

4.2. TUBERCULOSIS

About 35 lakh identified Tuberculosis patients across the country will soon get Rs.500

every month from the Centre as social support.

Read more in Neo IAS 1st November Current Affairs about TB government schemes.