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Current Affairs Capsule – February 13, 2020

February 13, 2020
Posted by: Team CP
Category: Current Affairs Capsule

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The United States Trade Representative (USTR) has updated its list of developing and least-developed countries, removing India, Thailand, Vietnam, Brazil, Indonesia and Malaysia from the list. With this, these countries are exempted from getting special preferences under the methodology for countervailing duty (CVD) investigations that was released in 1998. The US removed India from the list on account of it being a G-20 member and having a share of 0.5% or more of world trade. India’s share in global exports was 1.67% in 2018. In global imports, it was 2.57%.
Union Minister of Women & Child Development (WCD) Smriti Zubin Irani on 14th February, 2020 inaugurated the National Conference on Policy Framework for Skilling of Women and Children in New Delhi on 14th February, 2020. The Ministries of Women & Child Development (WCD) and Skill Development & Entrepreneurship are partnering to enable and empower the women and youth of India with skilling in every segment where India is competent to make a mark. According to the sixth economic census (2013-14), 14% or 8.05 million establishments were owned by women in India.
Portuguese President Marcelo Rebelo de Sousa arrived in New Delhi on 13th February for a four-day state visit to India. He held high-level talks with the Indian Prime Minister Narendra Modi. India and Portugal signed seven agreements to boost cooperation in areas including maritime transport, port development, audio-visual co-production and industrial and intellectual property rights on 14th February, 2020 during his first visit to India. Prime Minister Narendra Modi had visited Portugal in June 2017 during which 11 MoUs were signed.
Scientists in Antarctica recorded a new record temperature of 20.75 degrees Celsius (69.35 Fahrenheit), breaking its own previous record of 20 degrees for the first time on the continent. According to the World Meteorological Department (WMO), the Antarctic Peninsula is amongst the fastest-warming regions of the planet. The reading was taken at Seymour Island, which is a part of a chain off the peninsula that curves out from the northern tip of Antarctica.
Union Cabinet, chaired by Prime Minister Narendra Modi, on 12th February, 2020, has given its in-principle approval for capital infusion for three Public Sector General Insurance Companies (PSGIC) namely Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL). The Cabinet has allowed immediate release of Rs. 2500 crores in the light of the critical financial position and breach of regulatory solvency requirements of three PSGICs.
Union Cabinet approved the protocol to amend the Double Taxation Avoidance Agreement (DTAA) with Sri Lanka on 12th February, 2020. The existing Double Taxation Avoidance Agreement (DTAA) between India and Sri Lanka was signed in January 2013 and entered into force in 22nd October, 2013. The amendments also include a general anti-abuse provision in the Double Taxation Avoidance Agreement (DTAA) and will result in curbing of tax planning strategies, which exploit gaps and mismatches in tax rules.
The 43rd session of the governing council of the International Fund for Agricultural Development (IFAD) was held in Rome from 11th February to 12th February, 2020. It was announced at the event that with the current progress, the UN’s Sustainable Development Goals 2030 cannot be achieved. The theme of the session is “Investing in sustainable food systems to end hunger by 2030”. The IFAD was established in 1974 to address hunger and poverty in developing countries.

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Today’s Quiz:

Q1. What was India’s share in global exports in 2018?

1.27%
1.67%
2.57%
2.67%

Q2. India and ________ signed seven agreements to boost cooperation in areas including maritime transport, port development, audio-visual co-production and industrial and intellectual property rights recently