Current Affairs Current Affairs June 2018

 SKOCH Group has conferred the ‘Best performing Social Sector Ministry’ award on the Ministry of Women and Child Development for the achievements in delivering the promises made and for its significant achievements and initiatives from the last 4 years. Minister for Women and Child Development Smt. Maneka Sanjay Gandhi has received the award on behalf of the Ministry in an event held in New Delhi. The Minister further shared the details on the achievements of the Ministry including 6 months maternity leave, Sexual Harassment at Work Place Act, SHe-box, One-stop centres, Universal Women helpline (181), 33% reservation in the police.
Source- DD News

  International Widows' Day is a global awareness day that takes place annually on 23rd June. The United Nations General Assembly decided to observe International Widows’ Day on 23 June each year to give special recognition to the situation of widows of all ages and across regions and cultures.
Source- The United Nations

 Nepali Prime Minister Khadga Prasad Sharma Oli is on his first visit to China after assuming the charge as Prime Minister. China will build a railway connecting the western region of Tibet with Nepal, one of several bilateral deals signed during Oli’s visit to Beijing. The link will connect the Tibetan city of Xigaze with Nepal’s capital Kathmandu. The two sides signed more than 10 agreements involving technology, transportation, infrastructure and political cooperation. Nepal has already scrapped a $2.5 billion deal with China's state-owned Gezhouba Group to build a hydropower facility in the west of the country.
Source- The Hindu

 Mongolia has launched construction of its first strategically important oil refinery funded by India in southern Dornogovi province. The ground-breaking ceremony of long-awaited project was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister of Home Affairs Rajnath Singh. 
  • Key Facts
The refinery will be capable of processing 1.5 million tonnes of crude oil per year. That is about 30,000 barrels per day (bpd). It planned for completion in late 2022. On completion, it will meet all of the nation’s demand for gasoline, diesel, aviation fuel and liquefied petroleum gas (LPG). The cost of the refinery is estimated at $1.35 billion, and it will include a pipeline and its own power plant. Its financing is part of $1 billion soft credit line agreement between Mongolia and Export-Import Bank of India, made during 2015 official visit by Indian Prime Minister Narendra Modi. The refinery will process Mongolia’s own crude oil, which is now sold to China. The large landlocked country wedged between giants China and Russia had produced 7.6 million barrels of oil in 2017, about 21,000 bpd, amounting to 6% of its total export earnings.
  • Significance
The strategically important oil refinery will make Mongolia independent from energy imports and stabilise fuel and commodity prices in its domestic markets. It is expected to boost Mongolia’s gross domestic product (GDP) by 10%. It will end country’s dependence on Russian fuel as it imported almost 1.5 million tonnes of oil products in 2017, virtually all from Russia, thus diversifying its sources of oil products from the current single source. The refinery is expected to increase Magnolia’s crude oil output, helping it to increase its export earnings. The refinery project is also considered as important milestone in bilateral ties between India and Mongolia.

 Mongolia broke ground for the construction of country’s first oil refinery with the help of a USD 1 billion loan from India. Home Minister Rajnath Singh attended the groundbreaking ceremony for the construction of the refinery at ‘Stantsiin Hooloi’ and described it as an important milestone in the bilateral ties. The Prime Minister of Mongolia, Ukhnaagin Khurelsukh and other dignitaries were present during the event. The home minister is on a three-day visit to Mongolia to further strengthen India’s relations with Mongolia and security cooperation.
Source- DD News

 India has notified higher tariffs on 29 items imported from United States (US). This is was in retaliation against US announcement imposing tariffs on steel and aluminium items — 25% and 10% respectively — imported from all countries except Canada and Mexico in March 2018 to compensate from loss of revenue.
  • Key Facts
The 29 items includes agricultural products such as almonds, apples, chickpeas, lentils, and walnuts, and industrial inputs such as some grades of iron and steel products. These higher tariffs amounting to $240 million will come into effect from August 2018, leaving room for further discussions between US and India before new rates are implemented. It follows India’s notification to World Trade Organization (WTO) that it was imposing additional tariffs on 30 items in retaliation for US duty on steel and aluminium. These additional duties were aimed at helping government earn an additional $241 million, equivalent to amount of iron and steel trade affected by US measures. The latest notification does not mention tariff hike on 800 cc (or more) motorcycles as it was earlier notified in 30 items list to WTO.

 Australian golfing legend Peter Thomson has passed away aged 88 following a battle with Parkinson's disease. Thomson won five British Open titles in the 1950s and 1960s and is the only player since the turn of the 20th century to win golf's oldest major championship three times in a row.
Source- The Guardian

 The Gujarat government announced wind-solar hybrid power policy - 2018, aiming to make optimum utilisation of the land and grid. The policy, which will have a coverage period of five years, provides encouragement to renewable power producers supplying to the grid as well as to those having captive use. The electricity generated from wind-solar hybrid projects will be exempted from energy charges. The policy provides 50% concession for cross-subsidy surcharge and additional surcharge when the generated energy is sold to a third party. Gujarat currently generates over 5,500 MW of wind power and 1,600 MW of solar power. 
Source- The Hindu Business Line

 The Centre of Excellence in Maritime & Shipbuilding (CEMS), a well-funded start-up in skill development for maritime and shipbuilding sector, has announced setting up of 24 labs -6 in Mumbai and 18 in Vizag campus. The announcement was made in the first seminar on Competencies, Employability, Methodology and Skills organized by CEMS in Mumbai. CEMS has established one of the first of its kind of infrastructure in Asia Pacific region with 24 labs. CEMS aims to build competency in the field of maritime & shipbuilding sector through skill development in the latest manufacturing technologies for shipbuilding/ repair and ancillary sectors.
Source- Press Information Bureau (PIB)

 Prime Minister Narendra Modi laid the foundation stone of Paperless Vanijya Bhawan in New Delhi. Once ready, the new building will house Department of Commerce. The building will accommodate about 1000 officers and staff. It will be a completely paperless office with state of the art facilities such as smart access control, central air-conditioning, video conferencing, and completely networked systems. The Department of Commerce is currently housed in Udyog Bhawan.
Source- DD News 


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