1. India to MGC nations: Expand areas of cooperation.
India at 8th Mekong Ganga Cooperation Ministerial Meeting held in Manila, Philippines has called for expanding the areas of cooperation among the member countries of the Mekong Ganga Cooperation (MGC) bloc.
MGC countries have proposed to add newer areas of cooperation to the traditional areas on tourism, culture, education, transport and communication to further deepen mutually beneficial partnership and cooperation.
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India and member states agreed to look forward to sustain this progress in the years to come and in further deepening our mutually beneficial partnership and cooperation. They also have shared the concept notes on formation of task forces on maritime connectivity and extension of (India-Myanmar-Thailand) trilateral highway into Cambodia, Laos and Vietnam.Mekong Ganga Cooperation (MGC) blocThe MGC is an initiative by India and five ASEAN countries, Cambodia, Laos, Myanmar, Thailand and Vietnam for cooperation in tourism, culture, education, as well as transport and communications. It was launched in 2000 at Vientiane, Laos. It is named after Ganga and the Mekong which both are civilisational rivers. MGC initiative aims to facilitate closer contacts among the people inhabiting these two major river basins.
2. India, Iran call for early operationalisation of Chabahar Port.
India and Iran have expressed commitment for early completion and operationalisation of Chabahar Port besides strengthening bilateral ties.
Both countries in a series of meetings held during the Union Road Transport, Highways and Shipping Minister Nitin Gadkari two-day visit to Iran to attend the inauguration of Hassan Rouhani second tenure as President.
Both countries reviewed and assessed the progress in implementation of the decisions taken during Prime Minister Narendra Modi’s visit to Iran in 2016, including the progress in the development of Chabahar Port. India also has conveyed its readiness to aid Iran in taking up operations in Chabahar Port during the interim period between the actual activation of contract.
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India had requested Iran for an early submission of loan application for Chabahar Port Development to Exim Bank of India so that the contract agreement can be activated. The Iranian side earlier had requested India to provide up to $150 million credit and had made it a condition for activation of the Chabahar Port contract. The application for loan to Exim Bank of India is still awaited.
Chabahar Port.
Chabahar port is strategically located in the southeastern Sistan-Balochistan province, on the Gulf of Oman, near Iran’s border with Pakistan. In May 2016, India and Iran had signed a bilateral agreement, under which India agreed to refurbish one of the berths at Shahid Beheshti port, and reconstruct a 600-metre long container handling facility at the port.
3. Mastercard, PayPal expand partnership into Asia Pacific.
Mastercard and PayPal have extended their partnership into Asia Pacific to enhance the consumer experience and make Mastercard a clear payment option with PayPal.
The deal will expand PayPal`s presence at the point of sale and enable Masterpass for Braintree merchants in the region.Additionally, both companies will collaborate to create opportunities to leverage Mastercard`s new payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers.
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PayPal will also have the opportunity to give consumers and small businesses across Asia Pacific the ability to cash out funds held in their PayPal accounts to a Mastercard debit card.
4. World’s Shortest Woman Unveils 51-Feet High Book.
The world`s shortest woman Jyoti Amge today unveiled a 51-feet high book at a programme here.
The book `Kadve Vachan` written by Jain saint Acharya Tarun Sagar Maharaj was unveiled by her in the presence of BJP state president Ashok Parnami.
Amge is considered to be the world`s shortest woman alive by the Guinness World Records at 62.8 cm. It is the ninth volume of the book written in Hindi.
The book contains various "bitter" discourses about life and guides people for better living, Sagar said.
5. Dawn of cruise tourism in India’ inaugurated in Mumbai.
India will become part of a major international cruise in just about a year when a cruise themed on cricket and entertainment, with several cricket and Bollywood stars, including Sachin Tendulkar on board, sets sail for Mumbai from Singapore.
Operated by Monarch Cruise, the ship will set sail in March 2017. Besides cricketers such as Shane Warne, Kumar Sangakkara and Brett Lee, there would be several Bollywood stars and Michelin star chefs on board.
"There is a lot of excitement, not only among the Monarch team, but also for the cricketers and the stars," Tendulkar told ET. "With sportsman, Bollywood stars, chefs, DJs and comedians coming together, it`s going to be formidable experience on board," he said.
This would be the first major attempt to kick-start international cruise tourism in India, which has not been tested due to lack of well-equipped ports, and long customs and emigration processes. However, with the Centre initiating coastal circuit policy that has identified Goa (Mormugao), Mumbai and Kochi as possible ports of call for global cruise lines, the industry is expected to take off in the country soon.
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"India has a huge untapped potential when it comes to the cruising industry and with the government being proactive to support the industry, it helps players like us," said Josh Hill, vice-chairman at Monarch Cruise.The Monarch Cruise journey, which offers seven different itineraries, will include trips to destinations in Sri Lanka, Malaysia, Thailand and Singapore, apart from India.
Hill said "injecting cricket and Bollywood" will give the cruise an altogether different experience from the usual "lifestyle experience" that cruises generally offer. He said the company will invest close to $15 million in this cruise project and plans to come up with newer themed cruises in future.
6. India ranks 43rd in 2017 Global Retirement Index.
India was ranked last at 43rd position in 2017 Global Retirement Index (GRI) published by French asset management company Natixis Global.
The index ranks 43 countries on the basis of four factors viz. the material means to live comfortably in retirement (Material Well-being); access to to quality financial services to help preserve savings value and maximize income (Finances) and a clean and safe environment (Quality of Life ).
The 43 countries include members of the Organization for Economic Co-operation and Development (OECD), International Monetary Fund (IMF) advanced economies and the BRIC countries (Brazil, Russia, India and China).
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Key Highlights of 2017 GRI
Top three countries in 2017 GRI are Norway, Switzerland and Iceland. India ranks 43rd and has the same score compared to 2016 GRI. India also ranks the lowest among the BRIC economies.
India’s rank in all sub-indices is also in the bottom five. India position in all sub-indices is Material Well-being (41st), Health (43rd), Finances (39th) and Quality of Life (43rd).
India has the lowest income per capita of all countries in the GRI. Additionally, its score for the income equality indicator has declined compared to 2016 GRI. It has the lowest scores for all indicators within the sub-index including in insured health expenditure compared to 2016 GRI.
India ranks first in old-age dependency, second in tax pressure and sixth in interest rates. Interms of governance indicator India ranks as the fifth worst among all countries in the GRI. It also has the tenth-lowest score for the bank non-performing loans indicator. India ranked last in the Quality of Life sub-index.
India’s environmental factors indicator has improved due to progress in CO2 emissions per GDP. But it still ranks in bottom for happiness, water and sanitation, and air quality as well as scores second-worst for biodiversity and habitat among all GRI countries.
7. India ratifies 2nd commitment period of Kyoto Protocol.
India has ratified the second commitment period of the Kyoto Protocol (or Doha Amendment) that commits countries to contain the emission of greenhouse gases (GHGs). In this regard, India deposited its Instrument of Acceptance of the Doha Amendment to the Kyoto Protocol.
The Kyoto Protocol is an international GHGs emissions reduction treaty linked to the United Nations Framework Convention on Climate Change (UNFCCC). It commits its Parties by setting internationally binding GHGs emission reduction targets. It was adopted in Kyoto, Japan, in December 1997 and entered into force in February 2005.
The protocol is based on principle of equity and Common but differentiated responsibilities and respective capabilities(CBDR). It places obligations on developed nations to undertake mitigation targets to reduce emissions and provide financial resources and technology to developing nations. Developing countries like India have no mandatory mitigation obligations or targets under the Kyoto Protocol.
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The first commitment period under the Kyoto Protocol was from 2008-2012. The second commitment period of the Kyoto Protocol or Doha Amendment for 20132020 period was adopted in 2012. The amendment includes new commitments for parties to the Protocol who agreed to take on commitments in a second commitment period and a revised list of GHGs to be reported on by Parties.
The ratification of second protocol reaffirms India’s stand on climate action. It also further underlines India’s leadership in the comity of nations committed to global cause of environmental protection and climate justice. It will encourage other developing countries also to undertake this exercise. Under the second commitment period, implementation of clean development mechanism (CDM) projects will help Indian attract some investments.