Current Affairs International

 The world’s first digital art museum opened its doors to the public in Tokyo, Japan allowing patrons to step all the way into the artworks. Attendees are able to move freely through the 9,000-square meter interactive gallery. The exhibition itself is linked in real-time to the real-world seasons, which means that no two trips to the museum will be the same.
Source- The Tribune

 Asia's first arbitration centre specialised in intellectual property is slated to open in Tokyo in September 2018 to resolve the growing number of disputes in the region. The International Arbitration Centre in Tokyo (IACT) is set to have around a dozen arbitrators from around the world, who would try to resolve disputes within a period of one year.
Source- Business-Standard

 On the second day of his visit to Israel, Gujarat Chief Minister Vijay Rupani met Israel's Agriculture and Rural Development Minister Uri Ariel and announced a joint working group  (JWG) between Gujarat and Israel in the fields of agriculture, horticulture and allied sectors.  The objective of the meeting was strengthening the Indo-Israeli agricultural cooperation and extension of theIndo-Israel Agriculture Plan (IIAP) and also to explore the opportunities of using the hi-tech protective cultivation and precision farming methods of Israel.
Source- ANI News

 The world’s foremost chemical weapons watchdog, Organisation for the Prohibition of Chemical Weapons (OPCW) as granted itself new powers to help identify those responsible for chemical attacks in Syria. 82 members (exceeding required two-thirds majority) of the OPCW voted in favour of this proposal tabled by United Kingdom at special session of Conference of States Parties in The Hague. 24 countries including Russia, Iran and Syria voted against it. With enhanced powers, OPCW now can put in place arrangements to identify the perpetrators of use of chemical weapons in Syria. It is considered as important step forward for arms control. It strengthens unravelling consensus against use of chemical weapons.
  • Background
Until now, OPCW was only able to say whether chemical weapons were used – but not who had used them. It had limited power to only send teams to alleged chemical weapons attack, collect samples and draw their conclusions. They were having only limited power of determining whether attack is chemical weapons or not. But whatever evidence they turned up, they were not having powers to point finger at particular country or non-state actor as the perpetrator for the attack.
  • Organisation for the Prohibition of Chemical Weapons (OPCW)
OPCW is an intergovernmental organization that promotes, administers and verifies the adherence to the Convention on Prohibition of Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction (CWC). This convention outlaws production, stockpiling, and use of chemical weapons and their precursors. 190 member-states have signed and ratified this convention including India. Six states- Angola, Egypt, Israel, Myanmar, North Korea and South Sudan are still outside the CWC. OPCW was established April 1997 and it is headquartered in Hague, Netherlands. It was awarded Nobel Peace Prize in 2013 for overseeing global endeavour for permanent and verifiable elimination of chemical weapons.

 Pakistan has been placed on the grey list by the Financial Action Task Force (FATF) for failing to curb anti-terror financing despite its diplomatic efforts to avert the decision. The decision was taken at the global financial watchdog Financial Action Task Force’s (FATF) plenary session in Paris where Finance Minister Shamshad Akhtar represented Pakistan. The placement on to grey list will hurt Pakistan’s economy as well as its international standing. Pakistan remained on the FATF grey list from 2012 to 2015. The process began in February 2018 when FATF approved the nomination of Pakistan for monitoring under its International Cooperation Review Group (ICRG) commonly known as Grey List.
Source- DD News

 The International Micro, Small and Medium-sized Enterprises (MSME) Day is observed every year across the world on June 27. This year is second edition after the day was instituted in April 2017. The day highlights strong contribution of MSME businesses worldwide to livelihoods, communities and economies, and need to support MSMEs towards their success. Objectives of this day are to advocate importance of MSMEs in youth employment, raise awareness around the skills needed by youth to acquire decent jobs and raise awareness around youth entrepreneurship. The campaign slogan of MSME Day 2018 is ‘The Youth Dimension’.
  • Importance of MSMEs
They are major job providers and catalysts for growth. They are critical force in realizing Sustainable Development Goals (SDGs). They promote innovation, creativity and decent work for all. Four in five new formal jobs created in emerging markets are among MSMEs. The private sector led by MSMEs drives jobs growth, accounting for 87% of total employment in 2016. MSMEs tend to employ larger share of vulnerable sectors of workforce, such as women, youth, and people from poorer households. They can even sometimes be only source of employment in rural areas. MSMEs as group are main income provider for income distribution at “base of the pyramid”.
  • Background
The Micro-, Small and Medium-sized Enterprises Day was instituted by United Nations General Assembly (UNGA) through resolution A/RES/71/279 to recognize need to improve small business access to microfinance and credit. The resolution was introduced by delegation of Argentina and was co-sponsored by 54 member states and adopted without vote by 193-member UNGA in April 2017. The goal is to encourage member states to facilitate observance of the day by increasing awareness and actions to support small business.

 Britain’s Queen Elizabeth granted royal assent to Prime Minister Theresa May’s flagship Brexit legislation, ending months of debate over the legislation that will formally end the country’s European Union membership. The EU withdrawal bill, passed by both houses of parliament, has been signed into law by the monarch, to cheers from Conservative lawmakers The EU (Withdrawal) Bill repeals the 1972 European Communities Actthrough which Britain became a member, and transfers decades of European law onto British statute books in a bid to avoid any legal disruption.
Source- AIR World Service

 Turkey's long-standing leader Recep Tayyip Erdogan has won a new five-year term after securing outright victory in the first round of a presidential poll. Mr Erdogan got nearly 53% with almost all votes counted. His closest rival Muharrem Ince was on 31%. He will now assume sweeping new powers, won in a controversial referendum in 2017. The post of PM will be abolished.
Source- DD News

 The Day of the Seafarer is being observed every year on 25 June across the globe as an expression of thanks to the seafarers for their contribution to the economy and civil society of the world. It also acknowledges the risks and personal costs endured by seafarers while being in their jobs. The theme for year 2018 is ‘Seafarers wellbeing’. It highlights issues of seafarers wellbeing, particularly mental health. It deals with specific strategies to tackle stress and other issues affecting seafarers mental conditions and make tools available more widely known.
  • Background
The Day of the Seafarer was designated by International Maritime Organisation (IMO) in 2010. It was established in resolution adopted by 2010 Diplomatic Conference in Manila to adopt revised Standards of Training, Certification and Watchkeeping for Seafarers (STCW)Convention,  1978. For the first time it was observed in 2011 and since then it is observed annually. It has also been included in the list of observances by United Nations. The day acknowledges that almost everything that we use in our daily lives has been directly or indirectly linked with sea transport. A per IMO, around 90% of the world’s goods trade is carried out through ships.

 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.


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