International Current Affairs
International Current Affairs March 3rd Week
Category : International Current Affairs
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1) India Emerged As The Second Biggest Investor In London.
  • India has emerged as the second biggest investor in London after the US with country`s tech firms investing in the British capital at an unprecedented rate.
  • Since 2005 there has been a 117 per cent increase in Indian companies across all business sectors investing in London, with a 133 per cent increase in tech companies investing in the city.
  • The figures showed that Indian companies are the second biggest investor in London, ahead of China and Japan, but behind the US.
  • Major tech investments in London from India in recent years include software testing service Cigniti Technologies, customer support company Kayako and many others.
  • The worldwide expansion of Indian technology companies is also reflected in new figures released today that show venture capital raised by Indian technology firms has risen to record levels.
2) Bangkok slaps curfew on world`s biggest water fight amid drought.
  • Songkran festival, often referred to as the world`s biggest water fight festival at Thailand.
  • The Thai capital will impose a curfew during Thailand`s annual water festival to show solidarity with farmers hit by drought.
  • Thailand is facing its worst water shortage in two decades, with 14 out of 76 provinces hit and large swathes of agricultural land at risk.
  • Thailand has entered its annual dry season, which typically runs from March to May, meaning the drought is likely to get worse.
  • The Songkran festival, which marks Thai New Year, is often referred to as the world`s biggest water fight - a time when revellers splashing water on each other and everyone, young and old, is fair game.
  • A major tourist attraction, Bangkok`s water parties typically run late into the night.
3) India Inks Social Security Agreement Pact with Australia.
  • India has entered into a social security agreement with Australia under which employees of India deputed to Australia and vice versa will not have to make double social security contribution.
  • The agreement, marking another big step to enhance ease of doing business, was notified by the Employees` Provident Fund Organization.
  • Under this agreement Australia has become the 14th country with which India has a social security agreement in force.
  • The others in the list include Korea, Finland, Sweden, Czech Republic, Hungry, Germany, France, Belgium, Netherlands, Luxembourg, Denmark, Norway and Switzerland.
  • As per the order, the employees of one country deputed by their employers to the other country on short-term assignment for a pre-determined period of up to 60 months need not remit social security contribution in that country. 
4) Vladimir Putin Starts His Own Ratings Firm.
  • Vladimir Putin’s homegrown credit-ratings firm is up and running and foreign competitors are already feeling the heat.
  • Its joint venture in Moscow of 12 years and it will probably stop issuing local ratings on Russian companies,the ACRA, which stands for Analytical Credit Rating Agency, applied for a license to operate in Russia.
  • Investors Service Inc. and Fitch Ratings Ltd plan to stop issuing local ratings rather than agree to having their Moscow branches regulated by the Russian government at the cost of breaking international sanctions.
  • ACRA’s board is headed by an American, Karl Johansson, who advised the Russian government while at Ernst & Young LLP in Moscow.
  • Ekaterina Trofimova, a former banking analyst for Russia and former Soviet states at S&P, will run the new venture.
5) Agreement between EU and Turkey to tackle migrant crisis comes into effect.
  • An EU-Turkey deal to tackle the migrant crisis has formally come into effect.
  • Under this agreement, migrants arriving in Greece will be sent back to Turkey if their asylum claim is rejected.
  • All irregular migrants into Greece crossing from Turkey will be sent back.
  • The EU will resettle Syrian migrant for each Syrian returned to Turkey. In this case priority will be given to those who have not tried to illegally enter the EU.
  • It will be mandatory for Turkish nationals to have access to the Schengen passport-free zone. It will not be applicable to non-Schengen countries like Britain.
  • The EU is to speed up the allocation of €3 billion ($3.3 billion) in aid to Turkey to help migrants’ crisis.
  • Both signatory sides have agreed to re-energise Turkey’s bid to join the European Union (EU) bloc. 
6) Nepal signed agreement with China to extend the strategic Tibet rail link to Nepal.
  • Nepal signed 10 agreements with China in Beijing. These include a landmark transit treaty to end its total dependence on India and extension of the strategic Tibet rail link to Nepal.
  • The agreements were signed during the Nepalese Prime Minister K.P. Sharma Oli’s maiden visit to China and held wide-ranging talks with Chinese Premier Li Keqiang and called on President Xi Jinping.
  • China firmly supported efforts of Nepal to safeguard sovereignty, independence and territorial integrity as well as the Nepali people`s choice of development path. China also promised that it will not interfere in internal affairs of Nepal.
  • The two countries have also started working on the first draft of a free trade agreement.
  • Oli also discussed with China to establish a rail network connecting different cities in the country. This is besides the plan to extent the Tibetan railway to the Nepal border.
  • Beijing also offered concessional loan for a new airport in Nepal`s Pokhara and a feasibility study for oil and gas survey projects.
7) Brussels came under terrorist attack.
  • Brussels was in news as the city came under terrorist attack. A series of explosions, claimed by the Islamic State, took place at the Zaventem Airport and Maalbeek metro station killing at least 34 people and injuring more than 200.
  • With this attack, Belgium became the second European capital that came under terrorist attack in a span of less than 5 months.
  • Earlier, on 13 November 2015, Terrorists attacked six locations around Paris killing around 130 civilians and injuring another 200 people and security personnel.
  • However, the attack on Belgium is of more strategic concern as the headquarters of both the North Atlantic Treaty Organization (NATO) and the European Union (EU) are located in this city.
8) 9th International Abilympics started in France.
  • 9th International Abilympics started at Bordeaux in France. Abilympics is coined from Olympics of abilities of persons with disabilities.
  • It is a global work skills competition held every four years. The event aims to promote social awareness in the field of skills development and employment both locally and internationally, and foster friendship among the competing nations.
About Abilympics :
  • The name Abilympics comes from the idea of organizing a competition to promote the skills of persons with disabilities. It combines Abilities with the idea of the Olympics.
  • The concept was developed in Japan in 1972 based on the model of the skills competition named WorldSkills and on the Paralympic Games.
  • That year, the first national final of the Abilympics was held in Tokyo under the banner Acquiring professional skills leads to a bright future.
  • The International Abilympics Federation (IAF) was officially created during the 3rd International Abilympics in Hong-Kong in 1991.